Company Insights Central Bank of the Republic of Turkey Banking and Finance Central Bank of the Republic of Turkey News 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 and 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 Banking and Finance Turkey bank reserves hit highest level since 2014 at $135bn The Turkish central bank’s total reserves rose $6 billion last week to $134.5 billion, the highest since September 2014, Reuters reported, citing calculations from four bankers. President Tayyip Erdoğan appointed a former Wall Street banker, Hafize Gaye Erkan, as governor of the country’s central bank in June. Since then, the bank has embarked on a […] November 21, 2023 Finance Turkey looking at eurobond issuance by year-end Finance minister Mehmet Simsek said that Turkey is “looking closely at market conditions” for issuing eurobonds and that it was likely to happen before year-end. Simsek was speaking to reporters after an Institute of International Finance event on the sidelines of the IMF and World Bank meetings in Morocco. Investors have said they expect Turkey […] October 13, 2023 Finance DIB acquires 20% stake in Turkey’s TOM Group Dubai Islamic Bank has ventured into Turkey’s digital banking and financial technology arena by acquiring a 20 percent stake in Istanbul-based TOM Group. The Shariah-compliant bank has the option to increase shareholding to 25 percent within 12 months, it said in a statement. TOM Group, established by Aydın Group, includes TOM Katılım Bankası A.Ş. (Turkey’s first licensed digital retail […] October 2, 2023 Transport Erdoğan lauds $17bn link between Turkey and Iraq Turkish president Recep Tayyip Erdoğan has lauded plans for a $17 billion infrastructure and transportation project linking southern Iraq to Turkey as an opportunity to “build a new world”. The Development Road project will link Grand Faw Port, a commodities port in Iraq, by rail and road to the border with Turkey. It will transform […] September 20, 2023 Finance Pakistan reveals Saudi investment of $25 billion Saudi Arabia will invest up to $25 billion over two years in Pakistan, according to a statement from Pakistan’s caretaker prime minister Anwaar-ul-Haq Kakar. The announcement was made to journalists at Mr Kakar’s residence in Islamabad, citing mining, agriculture and information technology as the main sectors to benefit. There was no Saudi statement about the […] September 5, 2023 Trade Saudi and Turkey strengthen energy and defence ties Saudi Arabia and Turkey have signed energy and defence agreements with plans to boost direct investments and build on bilateral trade worth over $6 billion last year. Turkey’s President Tayyip Erdoğan and Saudi Crown Prince Mohammed bin Salman were present as the agreements were signed, state-run Saudi Press Agency reported. The deals included two contracts […] July 18, 2023 Trade Saudi Arabia and Turkey sign trade deals worth $610m Saudi Arabia and Turkey have signed trade deals worth SR2.3 billion ($610 million) as the two countries continue to forge stronger diplomatic and economic ties. The agreements, finalised at the Saudi-Turkish Business Forum in Istanbul, will see investment in real estate, construction, engineering consultancy and other sectors, according to a report by the state-run Saudi […] July 13, 2023 Economy Turkey’s exports to Gulf rise 29% to $1.69bn in May Turkey’s exports to Gulf countries grew by 29 percent year-on-year to $1.69 billion in May 2023. The total exports rose 14.4 percent annually to $21.7 billion last month, Daily Sabah newspaper reported, citing data from the Turkish Exporters Assembly (TIM). Exports to Iraq reached $817.9 million, followed by the UAE at $360 million and Saudi […] June 12, 2023 Posts navigation Previous 1 … 3 4 5 Next
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 and 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
Banking and Finance Turkey bank reserves hit highest level since 2014 at $135bn The Turkish central bank’s total reserves rose $6 billion last week to $134.5 billion, the highest since September 2014, Reuters reported, citing calculations from four bankers. President Tayyip Erdoğan appointed a former Wall Street banker, Hafize Gaye Erkan, as governor of the country’s central bank in June. Since then, the bank has embarked on a […] November 21, 2023
Finance Turkey looking at eurobond issuance by year-end Finance minister Mehmet Simsek said that Turkey is “looking closely at market conditions” for issuing eurobonds and that it was likely to happen before year-end. Simsek was speaking to reporters after an Institute of International Finance event on the sidelines of the IMF and World Bank meetings in Morocco. Investors have said they expect Turkey […] October 13, 2023
Finance DIB acquires 20% stake in Turkey’s TOM Group Dubai Islamic Bank has ventured into Turkey’s digital banking and financial technology arena by acquiring a 20 percent stake in Istanbul-based TOM Group. The Shariah-compliant bank has the option to increase shareholding to 25 percent within 12 months, it said in a statement. TOM Group, established by Aydın Group, includes TOM Katılım Bankası A.Ş. (Turkey’s first licensed digital retail […] October 2, 2023
Transport Erdoğan lauds $17bn link between Turkey and Iraq Turkish president Recep Tayyip Erdoğan has lauded plans for a $17 billion infrastructure and transportation project linking southern Iraq to Turkey as an opportunity to “build a new world”. The Development Road project will link Grand Faw Port, a commodities port in Iraq, by rail and road to the border with Turkey. It will transform […] September 20, 2023
Finance Pakistan reveals Saudi investment of $25 billion Saudi Arabia will invest up to $25 billion over two years in Pakistan, according to a statement from Pakistan’s caretaker prime minister Anwaar-ul-Haq Kakar. The announcement was made to journalists at Mr Kakar’s residence in Islamabad, citing mining, agriculture and information technology as the main sectors to benefit. There was no Saudi statement about the […] September 5, 2023
Trade Saudi and Turkey strengthen energy and defence ties Saudi Arabia and Turkey have signed energy and defence agreements with plans to boost direct investments and build on bilateral trade worth over $6 billion last year. Turkey’s President Tayyip Erdoğan and Saudi Crown Prince Mohammed bin Salman were present as the agreements were signed, state-run Saudi Press Agency reported. The deals included two contracts […] July 18, 2023
Trade Saudi Arabia and Turkey sign trade deals worth $610m Saudi Arabia and Turkey have signed trade deals worth SR2.3 billion ($610 million) as the two countries continue to forge stronger diplomatic and economic ties. The agreements, finalised at the Saudi-Turkish Business Forum in Istanbul, will see investment in real estate, construction, engineering consultancy and other sectors, according to a report by the state-run Saudi […] July 13, 2023
Economy Turkey’s exports to Gulf rise 29% to $1.69bn in May Turkey’s exports to Gulf countries grew by 29 percent year-on-year to $1.69 billion in May 2023. The total exports rose 14.4 percent annually to $21.7 billion last month, Daily Sabah newspaper reported, citing data from the Turkish Exporters Assembly (TIM). Exports to Iraq reached $817.9 million, followed by the UAE at $360 million and Saudi […] June 12, 2023
