Business Turkey

  • NEW YORK— The New York Times reported that one of its correspondents was briefly detained by border officials in Turkey as he arrived Tuesday at Istanbul's Ataturk Airport, then was forced to take a flight back to London with no explanation for why he had been refused entry into the country. There was no immediate explanation from Turkish officials about the...

  • *Erdogan traditionally backs lower interest rates to spur growth. ANKARA/ ISTANBUL, Jan 17- President Tayyip Erdogan called on the financial services industry on Tuesday to lend more to stimulate a flagging Turkish economy but stopped short of criticising the central bank. "If those who are in the position of owning the finance sector do not open the necessary...

  • Apple App Store

    Prices in the UK's App Store are set to rise 25 percent as the pound continues to lose value after Brexit. The Verge reports.

  • *Erdogan traditionally backs lower interest rates to spur growth. ANKARA/ ISTANBUL, Jan 17- President Tayyip Erdogan called on the financial services industry on Tuesday to lend more to stimulate a flagging Turkish economy, but stopped short of singling out the central bank in an attack on borrowing costs. Erdogan, an economic populist who advocates lower...

  • ANKARA, Turkey— Turkey's premier confirms Istanbul nightclub attacker's arrest, hopes interrogation will reveal' forces' behind attack.

  • Police officers take security measures as Abdulgadir Masharipov the main suspect behind the deadly attack on an Istanbul nightclub during new year's celebrations was captured during a police operation on a residence in Istanbul's Esenyurt district on January 17, 2017 in Turkey.

    The gunman suspected of killing 39 people in an Istanbul nightclub on New Year's Day has been caught in the city's Esenyurt district.

  • BISHKEK, Kyrgyzstan— A Turkish cargo plane crashed Monday in a residential area just outside the main airport in Kyrgyzstan, destroying half of a village and killing at least 37 people in the plane and on the ground, the Emergency Situations Ministry said. The Boeing 747 crashed at 7:40 a.m. local time while approaching Manas airport, south of the capital,...

  • New Istanbul airport will be world's busiest

    The New Istanbul Airport will overtake Atlanta to become the world's busiest when it opens next year.

  • Turkey is building what it claims will be the world’s largest airport by passenger numbers.

  • Cellebrite, a digital forensics firm known for helping law enforcement crack into locked smartphones, has itself fallen victim to hackers.

  • ANKARA/ ISTANBUL, Jan 12- President Tayyip Erdogan accused Turkey's enemies on Thursday of using currency speculation to try to topple the state and urged the central bank to "thwart these games," saying it had all the tools it needed after the lira plunged to record lows. "There is no difference in terms of goals between the terrorist with a gun in his hand and a...

  • ANKARA/ ISTANBUL, Jan 12- President Tayyip Erdogan accused Turkey's enemies on Thursday of using currency speculation to try to topple the state and urged the central bank to "thwart these games", saying it had all the tools it needed after the lira plunged to record lows. "There is no difference in terms of goals between the terrorist with a gun in his hand and a...

  • ANKARA, Turkey— Turkish President Recep Tayyip Erdogan says the country's economy is under a "terror" attack similar to the wave of violent attacks that have targeted Turkey in recent months. Speaking to village administrators Thursday, Erdogan asked citizens to continue selling dollars and euros to counter the threat. Turkey's currency hit an all-time low...

  • ISTANBUL/ ANKARA, Jan 10- For some of Turkish President Tayyip Erdogan's aides, the mere suggestion that the central bank should raise interest rates as the lira slides through new record lows amounts to a plot against the state. "It is clear the goal is to bottleneck the country's economy," Erdogan's adviser Bulent Gedikli said on Twitter on Tuesday in response to a...

  • LONDON, Jan 10- As the peso plunged last week, Mexico's central bank dug deep to sell more than $1 billion on Asian, European and U.S. markets. But Turkey, facing a similar currency selloff, lacks the luxury of a war-chest it could raid to stabilise the lira. On the face of it, Turkey's hard currency reserves look healthy- central bank data showed total reserves of around...

  • ISTANBUL/ ANKARA, Jan 10- For some of Turkish President Tayyip Erdogan's aides, the mere suggestion that the central bank should raise interest rates as the lira slides through new record lows amounts to a plot against the state. "It is clear the goal is to bottleneck the country's economy," Erdogan's adviser Bulent Gedikli said on Twitter on Tuesday in response to a...

  • ISTANBUL, Jan 10- The Turkish lira slumped to new lows on Tuesday, passing 4.0 to the euro for the first time and extending a slide since the start of the year, as a deputy prime minister repeated a warning that the economy was under attack. The bank responded to the lira slide by cutting forex required reserves, in a move adding $1.5 billion liquidity to the financial...

  • ISTANBUL— Turkey's central bank has moved to support the currency after it hit another record low amid investor concerns that the country might concentrate political power under its president. The central bank effectively freed up $1.5 billion in foreign cash liquidity for the banks by allowing them to reduce the amount of foreign currency they have to hold...

  • Turkish lira weakens to fresh record low against USD

    Thanos Vamvakidis, head of European G10 FX strategy at BofA Merrill Lynch, takes a look at the U.S. dollar/Turkish lira trade.

  • Sentiment turned against EM after election: Strategist

    JPMorgan Global Market Strategist, Nandini Ramakrishnan, talks about emerging market currencies, with specific comment on the Turkish lira’s moves.