Economy and Finance
168 articles
Economy and Finance
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WAGE HIKES FAIL TO CURB DISCONTENT AT GROWING ECONOMIC STRAIN
With inflation at 30.89% annually and 0.89% month‑on‑month in December, according to the Turkish Statistical Institute (TurkStat), the latest pension adjustments have ignited discontent among retirees. Most retired workers and tradespeople will receive only a 12.19% increase, while public servant retirees are slated for an 18.60% rise.
Economy and Finance
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NO INTEREST RATE CUTS WITHOUT INFLATION UNDER CONTROL
Central Bank Governor Fatih Karahan said interest rate cuts can only be effective when inflation is under control.
Economy and Finance
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SELÇUK BAYRAKTAR AGAIN TURKEY'S TOP TAXPAYER
The Revenue Administration has announced the top income taxpayers in 2024, with most names once again kept confidential. For the fourth year in a row, Baykar Chair of the Board Selçuk Bayraktar, who is also President Recep Tayyip Erdoğan’s son-in-law, ranked first, paying 2.77 billion lira in income tax.
Economy and Finance
SAUDI ARAMCO IN TALKS WITH OYAK TO PARTNER IN FUEL DISTRIBUTION
Saudi oil giant Saudi Aramco is in talks with OYAK Group, the country’s largest private pension fund, over a possible partnership involving one of Turkey’s biggest fuel distribution networks, according to journalist Olcay Aydilek.
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NUMBERS TELL A DIFFERENT STORY ON REAL UNEMPLOYMENT
The unemployment rate remained slightly above 8% in the first quarter of the year, according to TurkStat — yet independent surveys drawing on the same data continue to challenge the official picture.
Economy and Finance
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RISING FORECASTS, OPPORTUNIST PRICING
Turkey's inflation and high cost of living show no sign of easing. A new Central Bank survey points to rising price expectations — coming just days after the bank officially revised its own forecasts upward.
Economy and Finance
TURKEY'S CLIMATE SUMMIT COMES WITH A STEEP BILL
Preparations for the COP31 climate summit, set to be held in Antalya on Nov. 9-20, are fueling controversy over costs, procurement methods and forced land seizures.
Economy and Finance
ILLEGAL GAMBLING CRACKDOWN ENSNARES PRO-GOVERNMENT MEDIA FIGURE, IŞ BANK EXECUTIVES
A sweeping operation targeting illegal online gambling and money laundering networks led to the detention of 128 people across 21 provinces on May 14, including polarizing media figure Rasim Ozan Kütahyalı and two senior executives from İş Bank, one of Turkey's largest private banks.
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FASTER INFLATION AND WIDER CURRENT ACCOUNT DEFICIT THREATEN ŞİMŞEK’S PLAN
Finance Minister Mehmet Şimşek warned investors to expect a worsening in the country’s current account and the central bank said it expects faster inflation as strain grows on the government’s economic plans.
Economy and Finance
TURKEY PASSES TAX BREAKS TO SMOOTH PATH FOR COP31 IN ANTALYA
Parliament has passed sweeping tax exemption measures for goods, services, and imports tied to the country's hosting of the 31st Conference of the Parties (COP31) to the UN Framework Convention on Climate Change, scheduled to take place in Antalya from November 9–20.
Economy and Finance
INFLATION SURGES AS TARGETS SLIP OUT OF REACH
The government program against soaring prices faced a significant setback when new data revealed that inflation is already on the verge of exceeding year-end targets in the first four months of 2026.
Economy and Finance
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NEW TAX AND INVESTMENT BILL SUBMITTED TO PARLIAMENT AMID SKEPTICISM OVER LEGAL SECURITY
The AKP submitted a 15-item proposal to parliament as it pushes ahead with incentives to lure foreign investment and cash repatriation.