Economy

Economy

Permanent decline in inflation coming: Şimşek

Exports surge 11.4 percent to $20 billion in May

Japan automakers including Toyota hit by testing scandal

Toyota said Monday it had suspended domestic shipments of three car models after falling foul of government certification rules along with its Japanese rivals Honda, Mazda, Suzuki and Yamaha.

Used car market shrinks 15 percent in January-April

Second-hand vehicles sales declined by 15 percent in the first four months of 2024 compared to the same period of last year.

Turkish startup ecosystem sees fewer deals in first quarter

Turkish startup ecosystem displayed a decline in deal volume in the first quarter of 2024 compared to the same quarter of last year, following the downtrend in global startup activity, according to a report by KPMG.

Greek islands in high demand for upcoming Eid holiday

The Mediterranean resort of Antalya and Greek Islands will be in high demand during the Eid al-Adha holiday in mid-June, with some 50,000 Turks expected to visit those islands, according to representative of the tourism industry.

Oil producers extend supply cuts amid slack prices

ECB set to start cutting interest rates at this week’s meeting

AMD unveils new AI chips to challenge Nvidia

Airlines eye 'new frontier' of AI ahead of global summit

Geneva auto show closes shop after 119 years

Germany pushes jobs for refugees from Ukraine

Giant lithium partnership created in Chile

Chile's state-owned copper giant Codelco has signed a deal with SQM to nearly double the private mining firm's current extraction of lithium, a key mineral for the global switch to cleaner energy.

Talks on sale of Yapı Kredi Bankası shares terminated

Koç Holding has announced that discussions for the sale of shares in its banking unit Yapı Kredi Bankası have been terminated.

TAV opens new airport terminal in Kazakhstan’s Almaty

TAV Airports, a member of Groupe ADP, has completed a $200 million investment in Kazakhstan’s economic and cultural capital Almaty.

Retail prices in Istanbul rise 3.6 percent in May

Retail prices in Istanbul increased by 3.59 percent month-on-month in May, slowing from 4.5 percent in April, data from the Istanbul Chamber of Commerce (İTO) have shown.

Association seeks to expand tourism to all 81 provinces

The Association of Turkish Travel Agencies (TÜRSAB) has launched its campaign with the aim of expanding tourism activities year-round to the country's 81 provinces.

Türkiye, EU should work together for gas security: Minister

Türkiye and the European Union should work together on natural gas supply security, Energy Minister Alparslan Bayraktar has said.

French economy minister says speinding cuts needed

French Economy Minister Bruno Le Maire has said he was determined to seek billions of dollars in new government spending cuts after ratings agency Standard and Poor's downgraded France's credit score.

OPEC+ meeting set to maintain current output: analysts

Members of the OPEC+ cartel of oil-producing nations are likely to maintain current output cuts at their biannual meeting on June 2, analysts told AFP, opting for caution in the face of geopolitical uncertainties.

Foxconn eyes 40 percent global AI server market share

Taiwanese tech giant Foxconn said on May 31 that its global market for artificial intelligence servers is expected to increase to 40 percent this year, with AI products being the main driver for growth.

Parliamentary commission passes bill on crypto assets

The Turkish parliament’s planning and budget commission has approved a bill aimed at regulating the crypto assets sector in the country.

Some 550 billion liras withdrawn with reserve requirements

Some 550 billion Turkish Liras were withdrawn from the system after reserve requirement ratios for Turkish lira deposits and FX-protected deposits (KKM accounts) were raised, the Central Bank has said.

Banks' profit rises 32 percent in January-April, show data

The combined net income of Turkish banks increased by 32 percent in the first four months of 2024 from a year ago to 190.7 billion Turkish Liras ($5.94 billion), show data from the Banking Regulation and Supervision Agency (BDDK).