Business group ‘running out of patience for economic reforms’
The head of the Turkish Industry and Business Association (TÜSİAD), the country’s leading business group, has said delicate domestic and global conditions mean that there is no time to waste in passing...
View ArticleIran preparing for ‘tsunami’ of tourists
Iran’s vice president told The Associated Press on Oct. 18 his country is preparing for a “tsunami” of foreign tourists as Iran and world powers are set to begin implementing a landmark nuclear deal...
View ArticleChina economic growth hits lowest since financial crisis
China’s economy logged its worst performance since the global financial crisis on Oct. 19 with analysts warning it is likely to worsen and the government needs to do more to avert a sharp slowdown....
View ArticleFitch: Risks increase for Turkey’s banks but metrics hold up
Risks for Turkish banks are rising but financial metrics have so far held up well and investment grade ratings are assigned to most of the country’s large lenders, said Fitch Ratings in a written...
View ArticleTurkey completes electoral cycle, political risks persist
The outcome of Turkey’s general election on Nov. 1, which saw the Justice and Development Party (AKP) regain its parliamentary majority, follows a period of heightened political uncertainty that will...
View ArticleEyes turn to AKP’s 22.3 billion-lira economic pledges
After the Justice and Development Party (AKP) secured an unexpected victory in Turkey’s Nov. 1 snap election, receiving enough parliamentary seats to form a single-party government for four years, eyes...
View ArticleEconomy minister promises reform package to boost economy
A number of economic reforms are in the pipeline to boost the Turkish economy following the Nov. 1 elections, Turkish Finance Minister Mehmet Şimşek has said in an interview with the Financial Times....
View ArticleMinister suggests offering Turkish citizenship to property buyers
Turkish Economy Minister Nihat Zeybekci has revived an idea to grant citizenship to foreigners who buy a certain amount of property in the country. “The amount of property bought [by foreigners] in...
View ArticleDespite tail-winds, eurozone economy loses momentum
The eurozone economic recovery lost momentum in the third quarter of the year, official figures showed on Nov. 13 – a development that’s set to pile further pressure on the European Central Bank to...
View ArticleTOBB launches communication desk for Turkish businesses in Russia
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has said a communication and coordination desk has been established to hear and resolve any problems faced by Turkish businesspeople in...
View ArticleTurkey to take measures to avert negative effects of Russian tourism...
Turkey will take measures to soften any negative effects of Russian sanctions on the tourism sector amid the ongoing diplomatic crisis between Ankara and Moscow, Tourism Minister Mahir Ünal has said....
View ArticleRussia violates international law by punishing Turkish businesses: Turkish PM
Russia punishing Turkish businesses through economic sanctions is not in line with international law, Turkish Prime Minister Ahmet Davutoğlu has said, while stressing Ankara is ready to take measures...
View ArticleTurkish PM calls for ‘economic cooperation’ with Russia instead of embargoes
Prime Minister Ahmet Davutoğlu has made a call to Russia for “economic cooperation” instead of imposing “economic embargoes,” in the latest move to ease tensions over the downing of a Russian warplane...
View ArticleTurkish economy risks losing $9 billion over Russia crisis: Deputy PM
Tensions with Russia could cost Turkey’s economy nine billion dollars in the worst case scenario of “zero relations”, Turkish Deputy Prime Minister Mehmet Şimşek said Dec. 7. Moscow has imposed a...
View ArticleTurkey’s micro small and medium enterprises benefit from World Bank financing
The World Bank’s Board of Executive Directors has said it approved a micro, small and medium enterprises (MSMEs) and large enterprises (LEs) supply chain finance project for Turkey in the amount of...
View ArticleTurkey to cover losses in Russian market with Europe in football tourism:...
Turkey is trying to lure more European football clubs this year, though it has lost around 50 million euros in football tourism income amid the diplomatic crisis with Russia, said a senior sector...
View ArticleWorld Bank praises Turkey’s 2015 growth performance, cuts 2016, 2017 forecasts
The World Bank has praised Turkey’s economic growth performance in 2015, but slashed its forecasts for 2016 and 2017, in line with the general declining trend in global economies due to “disappointing”...
View ArticleTurkish gov’t revises growth forecast, pledges reforms to cut inflation rate
Turkey’s government has revised its economic growth forecast upward and vowed reforms to cut stubbornly high inflation, which has been defined as “one of the most challenging problems in the economy...
View ArticleTurkey worst in OECD for unregistered economy: Study
The share of the unregistered economy in Turkey is bigger than any other Organization for Economic Co-operation and Development (OECD) member state, according to a new study. The shadow economy’s ratio...
View ArticleTurkish economic confidence index slides in January
Turkey’s economic confidence index tumbled 16.8 percent in January, the Turkish Statistics Institute (TÜİK) said on Jan. 28, reversing a sharp rise from last November after the ruling Justice and...
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