Turkey hikes interest rate to 46% amid turmoil over Imamoglu’s arrest The rate hike marks the first since March 2024, amid growing economic turmoil following the arrest of Istanbul Mayor Ekrem Imamoglu. Turkey
Turkey's budget deficit narrows to $6.8B in March as lira fluctuates The data was released as Turkey has been facing economic turmoil and currency volatility. Turkey
Turkey's Simsek says economy will ride out Trump tariffs without lasting scars Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop. Turkey
Top US senator: No F-35 jets for Turkey until Russia's S-400 missiles 'gone' Republican Sen. Jim Risch made the statement during the nomination hearing for Tom Barrack to be the next US ambassador to Turkey. Barrack emphasized Ankara's strategic role in countering Iran in the region and promoting stability in Syria. Turkey
Turkish Airlines posts $635m Q2 profit, capacity exceeds pre-COVID levels While global airlines lost nearly $170 billion to the 2020 pandemic and the industry as a whole still is not making a net profit, Turkish Airlines managed to make $2.7 billion in profit in 2022. Turkey
In first foreign policy speech, Turkey's FM asks NATO to be 'considerate,' slams PKK Laying out Turkey's foreign policy priorities, Hakan Fidan set forth a national security-oriented agenda, striking a more hawkish tone on the Kurdistan Workers Party while softening his language on regional ties. Turkey
Turkey’s new economy team wins over foreign investors Turkey’s economy czar and central bank chief have met with foreign investors amid a fresh push to draw foreign funds. Turkey
Turkey appoints first female admiral as part of military overhaul The overhaul in the Turkish army's top brass seems to be in line with Erdogan's long-term foreign policy and security agenda, a prominent analyst says. Turkey
Foreign investors buy $179m in Turkey's stocks amid Erdogan's economic reset Foreign investors bought $179 million in local equities last week, an eighth straight week of inflows, according to the latest data from the Turkish Central Bank. Turkey
Turkey’s annual inflation hits nearly 50% in July The spike marks the end of an eight-month downtrend in annual consumer prices as Turkey grapples with one of its worst cost-of-living crises. Turkey
Turkey, Egypt seek to boost mutual trade by 50% in 5 years In the first visit of its kind in a decade, Egypt's trade and industry minister traveled to Turkey on Tuesday. Turkey
Analysis Expanded UK-Turkey trade deal seen as win-win, could include services The current deal does not account for services, which form integral parts of the British and Turkish economies. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Erdogan taps ex-NY Fed official as Turkey's deputy Central Bank head In a major reshuffle, the Turkish president has dismissed all three deputy Central Bank governors as his government ramps up efforts to regain the confidence of Western investors. Turkey
Turkey’s Central Bank raises year-end inflation forecast to 58% Turkey’s new Central Bank Governor Gaye Erkan reiterated the bank’s commitment to tighter monetary policy, but maintained that the shift would be gradual. Turkey
Turkey's Erdogan, Fidan talk economic ties with China's foreign minister Despite the growing rapprochement between Ankara and Beijing, conflicts, long mistrust and economic rivalry will likely limit the extent of cooperation between Turkey and China, analysts believe. Turkey
Turkey’s tax hikes squeeze consumers amid growing deficit The Central Bank’s high-profile governor Hafize Gaye Erkan makes her first appearance before the press and economists as Turkish consumers feel the burden of price and tax hikes that continued throughout July. Turkey
