Page 32 - Turkey

Largest-ever power cuts hit Turkey's industrial production: Report

The government has imposed three days of power outages a week in the country's hundreds of organised industrial zones

Key Iraq oil pipeline resumes operation following explosion in Turkey

A pipeline that carries oil from Iraq to world markets resumed operating Wednesday after an explosion in southeastern Turkey forced it to shut down for several hours.

Explosion in Turkey shuts down key pipeline carrying oil from Iraq

An explosion has shut down a pipeline in southeastern Turkey that carries oil from Iraq to world markets, officials and news reports said.

Oil rises to 7-year high as Turkey outage adds to tight supply outlook

Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook

Turkey's Erdogan pledges to reduce inflation to single-digit level

Erdogan said they will increase salaries for civil servants by 30.5 per cent and they will ensure an inflation level-based increase in the pensions of the retired citizens

Inflation in Turkey surges 36% in December amid Lira crisis

Annual CPI rose to a 19-year high in December due to President Erdogan's push for cheaper borrowing

Turkey's inflation hits a 19-year high of 36% as purchasing power erodes

The yearly inflation rate was the highest since September 2002

Turkey rolls out local Covid-19 vaccine amid surge in Omicron cases

Turkey has started to roll out its first locally developed Covid-19 vaccine Turkovac, while the Omicron variant becomes widespread across the country.

Turkey, Qatar enters into deal with Taliban on running airport of Kabul

Turkey and Qatar have entered into an agreement with the Taliban on the management over the international airport of Kabul and four other airports in Afghanistan

Turkey, Qatar to discuss Kabul airport plans with Taliban

Turkey has long expressed willingness to continue to run the airport, which is a main gateway for landlocked Afghanistan

Lira mounts historic 25% rally as Erdogan moves to protect savings

Erdogan introduced a series of steps late on Monday that he said will ease the burden of a weakened currency on Turks

Turkey's hidden rate hike buys Erdogan time but raises risks

The Turkish currency had lost more than 50% of its value against the dollar since September as President Recep Tayyip Erdogan leaned on the central bank to slash borrowing costs

Islam seeks lower rates, says Recep Tayyip Erdogan; lira slumps

For a second time in a month, Erdogan invoked religion to justify the current monetary stance

Turkey's lira sinks to fresh low, prompting bank to intervene

It was the bank's fifth intervention in recent weeks to attempt to prop up the lira

Turkey cuts benchmark interest rate again, lira dips to historic low

Turkey's central bank cut the benchmark interest rate by another 100 basis points despite soaring inflation, sending the weakening national currency lira to a new historic low against the US dollar.

Turkey increases minimum wage by 50% amid soaring inflation

Turkey's minimum wage will be 4,250 Turkish liras ($272) in 2022, President Recep Tayyip Erdogan has said, announcing a nearly 50-per cent increase

Turkey slashes key rate by whopping 100 bps; lira sinks to new record low

The bank signalled it would pause the easing cycle to monitor its effects in the next three months

How low can you go? Here are five questions for Turkey's central bank

The bank has slashed its key rate by 400 basis points to 15% since September as part of Erdogan's plan to prioritise exports and lending

Turkish Lira hits new low, dragging central bank to the rescue

The central bank announced its fourth market intervention in two weeks

Turkey's new Finance minister meets businesspersons amid currency crisis

Nebati briefed the business people about the steps to be taken to increase investment, production, and employment