Saudi schools ‘doing better at maths but still lagging behind’
OECD unveils education report Reading, maths, science tested Students in 81 countries took part Saudi Arabia’s schools have improved in the past few years, but are still below the international...
View ArticleTurkey’s total reserves reach record high of $140bn
The Turkish central bank’s total reserves have jumped to a record level exceeding $140 billion, five bankers’ calculations showed on Tuesday, sustaining an uptrend after it adopted more orthodox...
View ArticleTurkey and Qatar aim to double trade to $5bn
Turkey and Qatar have set a $5 billion bilateral trade target, more than double the level reported last year, a Turkish minister has confirmed. The figure is expected to be reached once the trade and...
View ArticleRenault to invest $431m to make new models in Turkey
Renault Group will invest $430.92 million by 2027 to produce four new models in Turkey, including a new low-cost SUV, according to a local media report. The new models will be made in collaboration...
View ArticleTurkey’s unemployment rate at lowest level in 11 years
The unemployment rate in Turkey fell to 8.5 percent in October, down 0.5 percentage points month on month, its lowest level since November 2012. The number of unemployed persons (15 years old and...
View ArticleTurkey to power first unit of Akkuyu nuclear plant
Turkey’s nuclear regulator has approved a commissioning permit for the country’s first nuclear power-generating unit. The Akkuyu nuclear power plant is being constructed by Russia’s state-owned...
View ArticleTurkey sets bold targets for trade with the Gulf
Trendyol plan reflects national ambitions Turkey is UAE’s fastest-growing partner 8 deals with Saudi Arabia in December Turkish e-commerce marketplace Trendyol has announced a plan to lift sales...
View ArticleTurkey sets up green fund with $155m World Bank loan
Turkey has set up its first green venture capital fund to support its target of net zero by 2053. The Industrial Development Bank of Turkey (TSKB) has secured a $155 million loan from the World Bank...
View ArticleTurkish Airlines places order for 220 Airbus aircraft
Turkish national carrier Turkish Airlines is expanding its fleet size by purchasing more than 200 Airbus aircraft. The order comprises 150 Airbus’ A321s and 70 A350 widebody aircraft (50 A350-900s, 15...
View ArticleUAE’s AD Ports plans to buy stake in Turkish port
The UAE’s state-owned AD Ports Group intends to invest in a new company proposed by Turkey’s sovereign wealth fund to run the Aegean coast port of Izmir. Although the stake size is unclear, the deal...
View ArticleTurkish lira expected to weaken further in 2024
Predicted to lose one-third against dollar Inflation 62% in November Central bank governor’s tenure may end Turkey’s currency will weaken by about one-third versus the dollar next year to hit new...
View ArticleTurkey secures $100m for post-quake reconstruction
The Industrial Development Bank of Turkey (TSKB) has secured a $100 million loan from the Jeddah-based Islamic Development Bank (IsDB) Group to reconstruct earthquake-affected regions. The financing...
View ArticleTurkey continues to hike policy rates to tame inflation
Turkey’s central bank increased its key policy rate by 250 basis points to 42.5 percent to combat inflation. Headline inflation edged up in November, but remains in line with the outlook presented in...
View ArticleTurkey aims for single-digit inflation by 2026
Turkey is expecting annual inflation to drop to single digits by the end of 2026, according to treasury and finance minister Mehmet Simsek. Inflation is currently at 65 percent and is expected to drop...
View ArticleTurkey invites China’s Chery to develop electric vehicles
Turkey has invited Chinese carmaker Chery to invest in developing electric vehicles (EV) in the country, according to industry and technology minister Fatih Kacır. “I invited the brand, which produced...
View ArticleTurkey to invest $10bn for electricity grid expansion
Turkey intends to invest $10 billion in the electricity grid by 2030 as part of its 2024-2030 energy efficiency plans, according to energy and natural resources minister Alparslan Bayraktar. Ankara...
View ArticleTurkey aims to be among top rare earth producers
Turkey plans to boost its production of rare earth elements and be among the top five producers in the world, its energy and natural resources minister, Alparslan Bayraktar, has announced. The country...
View ArticleTurkey hikes monthly minimum wage by 49%
Turkey is increasing its monthly minimum wage by just under half, to TL17,002 ($578) from January 1 2024. The increase is likely to boost purchasing power among workers, more than a third of whom earn...
View ArticleTurkey’s minimum wage hike may elevate inflation further
Turkey’s larger-than-expected minimum wage hike, which impacts some seven million workers, is expected to push already elevated inflation even higher in the coming months, economists and sector...
View ArticleTurkey’s EV production finally gets into gear
Togg plans 1m units by 2030 EVs 4% of Turkish car sales Ambitious manufacturing plans Turkey has long been a manufacturing base for the global auto industry, producing vehicles for more than a dozen...
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