Economy

Economy Banks’ profits rise 39 percent in January-August

Banks’ profits rise 39 percent in January-August
Economy Türkiye back in the game, says Goldman Sachs

Türkiye back in the game, says Goldman Sachs
Card payments rise 130 percent in August

Card payments rise 130 percent in August

Payments made with credit cards, debit cards and prepaid cards stood at 799 billion Turkish Liras ($29 billion) in August, rising 131 percent from a year ago, according to the data from the Interbank Card Center (BKM).
ECONOMY Foreign trade deficit shrinks 23 percent in August

Foreign trade deficit shrinks 23 percent in August
ECONOMY UK economy grows more than expected

UK economy grows more than expected

Britain's economy grew more than expected in the first quarter, revised official data showed on Sept. 29, but remains at risk of recession as high inflation weighs on the country.

ECONOMY Türkiye signs another natural gas export deal

Türkiye signs another natural gas export deal

The Turkish Petroleum Pipeline Corporation (BOTAŞ) has signed a second natural gas export agreement this week, this time with a Moldovan company.
ECONOMY Italy court condemns Uber Eats over 4,000 layoffs

Italy court condemns Uber Eats over 4,000 layoffs

A Milan tribunal has ordered Uber Eats Italy reverse this summer's lay-off of 4,000 riders, condemning the platform for failing to properly consult trade unions, the unions said.

Eurozone inflation falls to nearly two-year low ECONOMY

Eurozone inflation falls to nearly two-year low
Türkiye among world’s top tourism earners: Report ECONOMY

Türkiye among world’s top tourism earners: Report
Meta putting AI in smart glasses, assistants and more ECONOMY

Meta putting AI in smart glasses, assistants and more
Measures ease supply problems in car market: Minister ECONOMY

Measures ease supply problems in car market: Minister
Blue Origin to remain grounded following crash probe ECONOMY

Blue Origin to remain grounded following crash probe
Economy board discusses policies to support financial stability ECONOMY

Economy board discusses policies to support financial stability
Decarbonising shipping to cost over $100 bn per year: UN ECONOMY

Decarbonising shipping to cost over $100 bn per year: UN

The UN called for rapid decarbonisation of the shipping industry on Wednesday, warning that the price tag could top $100 billion a year as the sector's emissions continue to swell.
Confidence in economy improves in September ECONOMY

Confidence in economy improves in September

The economic confidence index rose for the first time in September after plunging the previous three months, the Turkish Statistical Institute (TÜİK) has said.
Turkish salmon tops aquatic export chart ECONOMY

Turkish salmon tops aquatic export chart

Turkish salmon emerged as the leading aquatic export of the country last year, raking in $312.2 million in revenue.
EBRD upgrades growth forecast for Türkiye ECONOMY

EBRD upgrades growth forecast for Türkiye

The European Bank for Reconstruction and Development (EBRD) has revised its Türkiye GDP growth forecast to 3.5 percent for 2023 from a forecast in May of 2.5 percent.
‘We’re on right track, but need to be patient’: Şimşek ECONOMY

‘We’re on right track, but need to be patient’: Şimşek

Treasury and Finance Minister Mehmet Şimşek has called for patience as he seeks to “rebalance the economy and soften domestic demand.”
ChatGPT maker value rockets in funding talks: Report ECONOMY

ChatGPT maker value rockets in funding talks: Report

The value placed on startup OpenAI has rocketed to between $80 billion and $90 billion in talks with potential investors, the Wall Street Journal has reported.
UK grants controversial North Sea oil and gas output ECONOMY

UK grants controversial North Sea oil and gas output

Britain yesterday authorised new production of gas and oil in the North Sea off the coast of Scotland, one week after the government diluted its net zero targets.
Need for critical metals poses dilemmas for investors ECONOMY

Need for critical metals poses dilemmas for investors

Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors weighing the economic, environmental and human rights risks of such projects.
Türkiye signs deal to export natural gas to Romania ECONOMY

Türkiye signs deal to export natural gas to Romania

The Turkish Petroleum Pipeline Corporation (BOTAŞ) has announced that it signed an agreement with Romania’s OMV Petrom to export natural gas.
Russian demand for homes shifting away from Türkiye ECONOMY

Russian demand for homes shifting away from Türkiye

Russians’ demand for residential properties in Türkiye declined by 50 percent in January-August as they are increasingly turning to the United Arab Emirates and other countries to buy homes, daily Milliyet has reported, citing Russian publication RBC.
World Bank has confidence in economic team’s policies: Lopez ECONOMY

World Bank has confidence in economic team’s policies: Lopez

The World Bank has confidence in the policies of Türkiye’s new economic team, says Humberto Lopez, the bank's country director, adding that the economic outlook for the Turkish economy will improve in mid-2024.
Türkiye to be greatly affected by EU’s carbon tax: Association ECONOMY

Türkiye to be greatly affected by EU’s carbon tax: Association

Türkiye will be among the countries that are likely to be affected most by the European Union’s carbon border adjustment mechanism (CBAM), said Seyit Ardıç, the president of the Ankara Chamber of Commerce (ASO).