Company Insights Central Bank of the Republic of Turkey Banking & Finance Central Bank of the Republic of Turkey News Analysis Economy IMF says Turkey is making progress on inflation Turkey is on the right track to curb inflation and realign the economy for growth, the International Monetary Fund says in a report issued late last week. However, the IMF says even more stringent measures are needed. The IMF acknowledges the Turkish government’s tightening of fiscal policy, but says it should do more to meet disinflation […] September 2, 2024 Finance Turkey’s largest privately owned bank to expand to UK and EU Işbank, the largest private bank by assets in Turkey, is exploring potential acquisitions and partnerships in digital banking and payment systems in the United Kingdom and European Union, a news report said. The move is part of the bank’s aims to become a regional fintech hub, backed by the recent merger of its subsidiary Moka […] August 28, 2024 Economy UAE Central Bank hedges against uncertainty with gold The Central Bank of the UAE has increased its gold reserves by 19.7 percent year on year, reaching AED20.6 billion ($5.6 billion) by the end of May 2024, and up from just AED1.1 billion in 2018. The CBUAE’s decision to boost its gold reserves aligns with similar actions by other nations. According to the World […] August 6, 2024 Trade Turkey slashes current account gap by 84% Turkey has cut its current account gap by more than 80 percent in a year, with improved trade data and strong portfolio inflows. However, a slowing of foreign direct investment points to underlying caution by outsiders. The current account deficit for May was $1.2 billion, a report issued by the Turkish Central Bank on July […] July 16, 2024 Economy Turkey to impose minimum corporate and income taxes Turkey has finished work on a proposed new economic reform plan, which includes a minimum corporate and income tax to increase the take from direct taxes. The package, which will be submitted to the parliament soon, proposes a minimum 15 percent corporate tax on multi-national companies with more than €750 million ($804 million) in annual […] June 21, 2024 Economy Turkey’s inflation rises to 68.5% on education costs Turkey’s annual inflation rate increased to 68.5 percent in March, beating the 67.07 percent recorded a month earlier, official data showed. The biggest monthly rise was in education, which rose by more than 13 percent, followed by communication, up almost 6 percent, The Turkish Statistical Institute said. Food and non-alcoholic beverages, housing, and hotels, cafes […] April 4, 2024 Economy Turkey’s central bank aims for disinflation in H2 2024 Turkey will see disinflation in the second half of the year, the Turkish central bank governor Fatih Karahan has reiterated. Ankara will maintain tight monetary conditions that will significantly lower the monthly inflation trend, he said at a meeting with the Turkish Banks Association management. “Our determined stance on monetary policy will enable us to […] April 3, 2024 Opinion Economy Egypt and Turkey turn a corner but Lebanon flounders The phrase 'two out of three ain't bad' offers no solace for a struggling nation March 22, 2024 Manufacturing Turkish manufacturers buoyed by rise in PMI Turkish producers are cautiously optimistic after the Turkey Production Managers Index (PMI), which measures the outlook of the country’s manufacturing sector, returned to positive territory in February. According to the latest report issued by the Istanbul Chamber of Commerce and Standard and Poor’s, this is the first increase after seven straight months of contraction. The […] March 1, 2024 Banking & Finance Turkey plans credit card restrictions after 160% surge Restrictive measures are likely to be imposed on credit cards, which saw surging growth last year, the chairman of Turkey’s banks association said. Credit card sales rose 159 percent in 2023, while overall loan growth increased 54 percent, the Daily Sabah newspaper reported, citing Alpaslan Çakar. “It is evident that there is a need for […] January 25, 2024 Posts navigation Previous 1 2 3 4 5 Next
Analysis Economy IMF says Turkey is making progress on inflation Turkey is on the right track to curb inflation and realign the economy for growth, the International Monetary Fund says in a report issued late last week. However, the IMF says even more stringent measures are needed. The IMF acknowledges the Turkish government’s tightening of fiscal policy, but says it should do more to meet disinflation […] September 2, 2024
Finance Turkey’s largest privately owned bank to expand to UK and EU Işbank, the largest private bank by assets in Turkey, is exploring potential acquisitions and partnerships in digital banking and payment systems in the United Kingdom and European Union, a news report said. The move is part of the bank’s aims to become a regional fintech hub, backed by the recent merger of its subsidiary Moka […] August 28, 2024
Economy UAE Central Bank hedges against uncertainty with gold The Central Bank of the UAE has increased its gold reserves by 19.7 percent year on year, reaching AED20.6 billion ($5.6 billion) by the end of May 2024, and up from just AED1.1 billion in 2018. The CBUAE’s decision to boost its gold reserves aligns with similar actions by other nations. According to the World […] August 6, 2024
Trade Turkey slashes current account gap by 84% Turkey has cut its current account gap by more than 80 percent in a year, with improved trade data and strong portfolio inflows. However, a slowing of foreign direct investment points to underlying caution by outsiders. The current account deficit for May was $1.2 billion, a report issued by the Turkish Central Bank on July […] July 16, 2024
Economy Turkey to impose minimum corporate and income taxes Turkey has finished work on a proposed new economic reform plan, which includes a minimum corporate and income tax to increase the take from direct taxes. The package, which will be submitted to the parliament soon, proposes a minimum 15 percent corporate tax on multi-national companies with more than €750 million ($804 million) in annual […] June 21, 2024
Economy Turkey’s inflation rises to 68.5% on education costs Turkey’s annual inflation rate increased to 68.5 percent in March, beating the 67.07 percent recorded a month earlier, official data showed. The biggest monthly rise was in education, which rose by more than 13 percent, followed by communication, up almost 6 percent, The Turkish Statistical Institute said. Food and non-alcoholic beverages, housing, and hotels, cafes […] April 4, 2024
Economy Turkey’s central bank aims for disinflation in H2 2024 Turkey will see disinflation in the second half of the year, the Turkish central bank governor Fatih Karahan has reiterated. Ankara will maintain tight monetary conditions that will significantly lower the monthly inflation trend, he said at a meeting with the Turkish Banks Association management. “Our determined stance on monetary policy will enable us to […] April 3, 2024
Opinion Economy Egypt and Turkey turn a corner but Lebanon flounders The phrase 'two out of three ain't bad' offers no solace for a struggling nation March 22, 2024
Manufacturing Turkish manufacturers buoyed by rise in PMI Turkish producers are cautiously optimistic after the Turkey Production Managers Index (PMI), which measures the outlook of the country’s manufacturing sector, returned to positive territory in February. According to the latest report issued by the Istanbul Chamber of Commerce and Standard and Poor’s, this is the first increase after seven straight months of contraction. The […] March 1, 2024
Banking & Finance Turkey plans credit card restrictions after 160% surge Restrictive measures are likely to be imposed on credit cards, which saw surging growth last year, the chairman of Turkey’s banks association said. Credit card sales rose 159 percent in 2023, while overall loan growth increased 54 percent, the Daily Sabah newspaper reported, citing Alpaslan Çakar. “It is evident that there is a need for […] January 25, 2024
