An additional reduction of 1 lira and 36 kurus has been applied to the price per liter of gasoline. This reduction decision will be reflected on signs tonight. As a result, the price of gasoline will have dropped by 3 lira and 60 kurus in two days. The decline in oil prices has been reflected […]
Last week witnessed a withdrawal of 14 billion liras from exchange-rate protected deposit accounts, causing the total balance to drop below 750 billion liras. The decline in exchange-rate protected deposit accounts continues. According to data from the Banking Regulation and Supervision Agency (BDDK), the balance decreased from 758 billion 446 million liras to 744 billion […]
The total reserves of the Central Bank decreased by $2.25 billion in the week of April 4th. The Central Bank of the Republic of Turkey (CBRT) announced its weekly monetary and banking statistics. As of April 4th, the Central Bank’s gross foreign exchange reserves decreased by $2.771 billion to $77.838 billion. Gross foreign exchange reserves […]
The Organization for Economic Co-operation and Development (OECD) predicted that the Turkish economy will grow by 3.1% this year. The organization also forecasted inflation to be at 31.4% in 2025. In order for Turkey to fully benefit from the improved perception in international markets, OECD recommended the continuation of cautious macroeconomic policies until inflation aligns […]
Turkey Petroleum will commence oil and gas exploration activities in three onshore areas in Somalia in the coming months. A signing ceremony for a hydrocarbon exploration and production agreement in Somali land areas between Turkey and Somalia took place. The ceremony was attended by Energy and Natural Resources Minister Alparslan Bayraktar and Somali Petroleum and […]
Switzerland, one of the countries whose tariffs President Trump suspended for 90 days, is moving closer to the EU amid economic uncertainty and instability. While Trump’s decision to temporarily suspend customs duty tariffs affected Switzerland along with other countries, the unexpected imposition of higher taxes on Switzerland, historically known as a “neutral country,” compared to […]
Elon Musk’s political stance has dealt a heavy blow to the brand value of Tesla. While the company’s shares lost 35 percent of their value, its market capitalization nearly halved. The high tariffs implemented by US President Donald Trump have shaken the global automotive industry, with Tesla, owned by Elon Musk, bearing the negative effects […]
Minister of Treasury and Finance Mehmet Şimşek stated their determination to lower inflation, emphasizing the importance of implementing certain reforms. Minister Şimşek made these remarks at the OECD Emerging Markets Forum in Istanbul. During his speech, he emphasized their commitment to reducing inflation. He highlighted the significance of implementing reforms to enhance productivity, stating, “It […]
The BIST 100 index in Borsa Istanbul started the day with a rise of 3.27% at 9,579 points. The easing of tension in global trade started the markets positively. At the opening, the BIST 100 index rose to 9,579 points, an increase of 303.61 points and 3.27% compared to the previous close. The banking index […]
The industrial production index shrank in the month of February. Production declined by 1.6 percent on a monthly basis. The Turkish Statistical Institute (TÜİK) has released data on the industrial production index for February. Accordingly, the seasonally adjusted industrial production in that month showed a decrease of 1.9 percent compared to the same month last […]
