Total reserves of the Central Bank (TCMB) fell by about $3.4 billion to $171 billion in the week ending 25 September, marking a fifth straight weekly decline.
More news in Economy
Central Bank expands foreign exchange conversion support
The Central Bank (TCMB) introduced a 10% foreign exchange position requirement for the foreign exchange conversion support starting on 1 October. Treasury and Finance Minister Mehmet Şimşek said firms contributing to exports through production and supply will have easier access to the support.…
Economy
HSBC says Central Bank may cut rates 200 bps by year-end
HSBC strategists said the Central Bank (TCMB) is likely to cut interest rates by 200 basis points by year-end, describing the easing cycle as having two stages.…
Economy
Assets of 42 people frozen in fund probe
Justice Minister Akın Gürlek announced that the assets of 42 individuals, 46 legal entities and 18 funds were frozen in the fund investigation. Thirty-seven suspects not previously under restrictions were barred from leaving the country.…
Economy
Secure payment system postponed for property sales
The Trade Ministry postponed the Secure Payment System, planned to become mandatory for property sales on 1 October, to 1 December 2026.…
Economy
Hedef Holding fails to pay about 1.1 billion lira debt
Hedef Holding told the Public Disclosure Platform (KAP) it could not pay about 1.1 billion lira in matured Stock Exchange Money Market debt. The company said financing conditions and problems accessing funds prevented payment and applied to change the debt's maturity and terms.…
Economy
Iranian Caspian Airlines plane seized at Istanbul Airport
An aircraft belonging to Iranian airline Caspian Airlines was seized at Istanbul Airport over a debt of 3 million euros. Passengers were removed from the plane.…
Economy
Minister Işıkhan: 2.1 million extra jobs targeted in 3 years
Labour and Social Security Minister Vedat Işıkhan announced that they aim to create 2.1 million additional jobs in three years.…
Economy
Fuel equalisation ends 1 October, petrol hike may reach 12.48 lira
The fuel equalisation system applied to petrol will be lifted on 1 October. Calculations including SCT and VAT indicate the rise to be reflected in a litre of petrol may reach 12.48 lira.…
Economy
Road crash on Gaziantep-Nurdağı road kills 7, including 2 children
A passenger bus and a car collided on the Gaziantep-Nurdağı road, killing 7 people in the car, including 2 children, and injuring 16 people.…
National
Deniz Göktaş sentenced to prison and released
Comedian Deniz Göktaş was sentenced to 1 year and 7 months in prison at the first hearing of his trial over remarks in his show, and his release was ordered.…
National
Turgay Tamer named in Kozinoğlu probe found dead
Doctor Turgay Tamer, detained in the investigation into Kaşif Kozinoğlu's death and released under judicial control, was found dead in his home in Büyükçekmece. The Silivri Chief Public Prosecutor's Office said Tamer had not provided medical treatment to Kozinoğlu.…
National
3 suspects arrested in MASAK espionage probe
Three suspects, including a former deputy head of department at the Financial Crimes Investigation Board (MASAK), were arrested in the Istanbul Chief Public Prosecutor's Office espionage investigation into MASAK's Integrated Financial Intelligence System. Three other suspects were released under judicial control.…
National