Turkish exporters break records albeit global threats

ANKARA Turkey breaks export records despite global trade wars and rising protectionism, the country’s trade minister said on Tuesday.  “Turkish exports go through the hardest period but we continue to hit records thanks to steps taken by the government and our exporters’ efforts,” Ruhsar Pekcan told Turkish ambassadors at a dinner hosted by Foreign Economic […]

Turkish stocks end Monday 0.52% up

BIST 100 index rises 535 points from last week’s close, USD/TRY exchange rate stands at around 5.61 ANKARA Turkey’s benchmark stock index ended the day up 0.52% to close at 103,373.07 points on Monday. Starting the week at 103,146.74 points, Borsa Istanbul’s BIST 100 index increased 535.88 points from 102,837.19 points at Friday’s close. During […]

UAE buys fifth largest bank in Turkey

Turkey’s Banking Regulation and Supervision Agency (BDDK) on June 28 approved the purchase of private lender Denizbank by the Emirates NBD Bank PJSC (ENBD) of United Arab Emirates.  In April, the ENBD signed an agreement with Russian lender Sberbank, owner of Denizbank, to buy 99.85% of Denizbank‘s shares for 15.48 billion Turkish liras ($2.7 billion). The acquisition period is […]

Business confidence improves in June

Business confidence in Turkey gained momentum in June from the previous month, a regular survey by the Central Bank showed on June 24. The business confidence index increased by a strong 3.6 percent on a monthly basis to touch 102.5 in June, the Central Bank said. That followed a 6.3-percent decline month-on-month in business sentiment in May. The confidence index increased every single month from January to April this year. The 100-point […]

Turkey’s foreign trade deficit falls 55.6% in April

Turkey’s foreign trade deficit in April fell 55.6% year-on-year, the country’s statistical authority announced on May 31. Turkish Statistical Institute (TÜİK) said the foreign trade deficit in April totaled $2.98 billion, improving from a $6.71-billion deficit a year ago. Last month, Turkey’s exports hit $14.48 billion — up 4.6% on a yearly basis — and imports dropped to $17.46 billion with an annual decline of […]

Turkey lifts limit for university admission for foreigners

Turkey’s top university authority announced yesterday that the limitations on the number of foreign students seeking to study in Turkish universities has been abolished. Thus, universities will be able to expand their 50 percent quota for foreign students, a positive move in the government’s drive to make Turkey an education hub in the Middle East […]

Cargo giants applied for spots at new Istanbul airport: Minister

The largest cargo companies in the world are in a rush to secure spots at Istanbul’s new airport in-making, according to Turkish Transport Minister Ahmet Arslan. The new Istanbul airport, which will open on Oct. 29, will become a center for transportation along with passenger traffic, the minister told state-run Anadolu Agency in a recent interview.  The first phase of the airport on the northern part […]

Cycling: Tour of Turkey to start on Tuesday

The 55th edition of the Presidential Cycling Tour of Turkey will start on Tuesday as a part of the “UCI World Tour” calendar for the third time. The Tour of Turkey will be held between April 16-21, competing 119 cyclists from 17 teams. Four World Tour teams are also among 17 teams which will cycle […]

Over 3.2 million foreigners visited Turkey this year

Turkey hosted more than 3.2 million foreigners during the first two months of this year, the Culture and Tourism Ministry announced Friday. The number of foreigners visiting Turkey rose 7.4 percent year-on-year in the period, official figures showed. Istanbul, Turkey’s largest city by population and a top tourist destination, attracted nearly 59 percent of all […]

Turkey creates some 550,000 new jobs in 2018

In Turkey, 549,000 new jobs were created last year, Turkey’s statistical authority announced on Monday. “The number of employed persons aged 15 years old and over realized as 28.74 million persons with a 549,000-person increase,” TurkStat said. It announced that the employment rate was 47.4 percent — 65.7 percent for male, and 29.4 percent for female — […]