Turkey space race gains pace with Somalia launch facility
Turkey is building a rocket-launching facility in Somalia, boosting its ambition to join the global space race. The project is expected to generate jobs and revenue, Bloomberg reported, citing Somalia...
View ArticleTurkey’s Pegasus places firm order for 100 Boeing jets
Turkish low-cost carrier Pegasus Airlines has placed a firm order for 100 Boeing 737 Max-10 aircraft with the option for an additional 100 jets. The Max-10, the largest model in the 737 Max family,...
View ArticleUS gives Turkey sanctions waiver for gas payments to Russia
US permits use of Gazprombank Russia top supplier of gas The US has given Turkey an exemption from sanctions on Gazprombank for its gas payments to Russia, the Turkish energy minister Alparslan...
View ArticleTurkey’s central bank forecast to slash policy rate
Turkey’s central bank is expected to reduce its key policy rate by 150 basis points (bps) from the existing 50 percent, according to a survey by state-run Anadolu Agency. Among the 14 economists...
View ArticleTurkey closing in on nuclear energy aspirations
First power plant next year Due to have started in 2023 Three more planned Turkey’s first nuclear power plant reactor will come online in 2025, two years behind schedule, the country’s energy minister...
View ArticleTurkey to end FX-protected lira deposits next year
The Turkish central bank plans to end the forex-protected lira deposits (KKM) scheme in 2025 after its balance fell to $34.2 billion as of December 20 2024. The share of Turkish lira deposits within...
View ArticleTurkish central bank surprises with large rate cut
Reduction of 250 basis points Lending rate just above inflation Analysts predicted smaller cut Turkey’s central bank has cut its key lending rate by a higher than expected 250 basis points. The bank...
View ArticleTurkey plans ‘landmark’ rate cuts in 2025 says Erdoğan
Lowering inflation a priority Inflation at 47% from 75% 2024 economic goals achieved Turkey is planning additional interest rate cuts in 2025 after the central bank cut its key rate to 47.5 percent to...
View ArticleTurkey minimum wage hike sparks inflation and strike threats
30% rise to fuel inflation 9m workers to benefit Unions threaten strikes Turkish workers on the minimum wage will receive a 30 percent pay increase from January 1, fuelling inflation but still well...
View ArticlePoorest parts of Turkey to get $14bn investment
Funding for 200 projects in southeast Irrigation and farming support Area borders Syria and Iraq The Turkish government has revealed plans to invest more than $14 billion into the country’s...
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