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Wednesday, June 16, 2021

Turkish Central Bank cuts inflation forecast for 2020

ANKARA  The Turkish Central Bank on Thursday revised its year-end inflation forecast to 7.4% for 2020, down from 8.2%. The 0.8 percentage point fall was driven by the downward revision in...

Turkey postpones farmers' loans for 6 months amid virus

ISTANBUL Turkey provided interest-free six-month postponement for farmers' loans amid the coronavirus pandemic, the treasury and finance minister announced on Tuesday. "Thus, we offer our farmers the opportunity to postpone approximately...

Turkey's Central Bank cuts interest rates 100 bps

ANKARA The Central Bank of Turkey on Wednesday reduced its one-week repo rate 100 basis points. The bank's policy rate -- also known as the one-week repo rate -- fell to...

Turkey shuts power plants for not installing filters

ANKARA Turkey shut down five thermal power plants completely and one other partially for failure to comply with the law to install filters, authorities said Wednesday. Four out of seven plants...

Turkey's Borsa Istanbul starts year looking up

ISTANBUL  Turkey's benchmark stock index started the first trading day of the New Year with a rise of 0.42% or 477.55 points to open Thursday at 114,902.51 points. The BIST 100...

Turkey to unveil 1st homegrown car prototype next week

KUALA LUMPUR/ANKARA Turkey will unveil the prototype of its first indigenous car on Dec. 27, the nation’s president said on Friday.  Erdogan’s remarks came in Malaysia where he attended Kuala Lumpur...

Turkey: Crude steel production at 31M tons in Jan-Nov

ISTANBUL Turkey's crude steel output was 30.9 million tons in January-November, a trade association said Tuesday. Crude steel production in the country dropped 10.4% the first 11 months of 2019 on...

'Turkey's growth continues to pick up steam'

ANKARA Leading indicators for the fourth quarter indicate that Turkey’s growth is picking up steam, the country's treasury and finance minister said Monday. "To achieve the 5% growth target, we will...

Turkey: Export-import coverage in 11 months nearly 87%

ANKARA  Turkey's export-import coverage ratio rose to 86.8% this January-November, up from 75.6% in the same period last year, said Turkey's trade minister on Monday. "Our exports in November totaled $16.2...

Turkey could achieve greater stability in 2020: Fitch

ANKARA Turkey could experience greater stability in 2020, said the credit ratings agency Fitch on Friday. "Fitch expects the recovery and rebalancing of the economy to continue, with growth strengthening, inflation...

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'Emerging markets won't suffer from current account deficits post-COVID'

ANKARA Imports have already surpassed pre-crisis levels in all major emerging markets but most trade deficits have not expanded due to booming exports, according to...

Thousands protest in Madrid against pardoning jailed Catalan leaders

OVIEDO, Spain Around 25,000 people poured into the streets of Madrid on Sunday to protest the Spanish government’s impending move to pardon several jailed Catalan...

Accused terrorist nabbed while trying to enter Turkey

ANKARA  A terrorist wanted with a red notice was among a dozen people arrested while trying to enter Turkey, said the National Defense Ministry on...

Mortar kills 5 civilians in Afghanistan

KABUL, Afghanistan A mortar shell fired by Taliban hit a residence in Afghanistan’s Lagman province killed five civilians, according to Afghan Army.The 201st Selab Corps...

UAE, Rwanda ban flights from Uganda due to rise in COVID-19 cases

KAMPALA, Uganda The United Arab Emirates (UAE) and Rwanda have banned with immediate effect all flights from Uganda due to reports of rising COVID-19 cases...