Page 6 - Nevzat Devranoglu News Today

The World Bank has approved $450 million in financing for small and medium-sized enterprises in the region of Turkey that was devastated by massive earthquakes in February, Industry Minister Mehmet Fatih Kacir said on Thursday.

ANKARA (Reuters) - The World Bank has approved $450 million in financing for small and medium-sized enterprises in the region of Turkey that was devas...

ANKARA, July 5 - Turkey will raise corporate taxes to fund the recovery from major earthquakes that struck the country in February, according to a draft...

ANKARA (Reuters) - Turkey will continue its monetary policy U-turn, which began with a sharp post-election rate hike last month, until the inflation outlook improves significantly, the central bank said on Monday.

The Turkish central bank's net international reserves rose by some $8.5 billion last week to about $9 billion, the biggest weekly rise on record, four bankers said on Tuesday, as it stopped intervening in the forex market and the lira declined.

ISTANBUL, June 27 (Reuters) - Turkeys lira was mostly flat on Tuesday, after touching a new record low overnight, while bankers said the central banks net reserves had marked their largest rise on record last week as it sto...

Turkey's central bank took fresh steps on Sunday in line with its goals to increase functionality of market mechanisms, after it hiked rates to 15% from 8.5% this week.

ISTANBUL (Reuters) -Turkeys lira weakened as much as 3.3% to a record low on Friday, extending losses a day after the central banks large rate hike failed to assure markets that President Tayyip Erdogan was abandoning his long-held unorthodox policies.

Any inflows of foreign funds to Turkey should be used to replenish central bank reserves, not to strengthen the lira, a top member of leading business association TUSIAD said on Friday.

The Turkish central bank's net forex reserves rose some $2.5 billion from a historic low to stand at $-3.17 billion as of June 9, data showed on Thursday, as Ankara loosened its grip on the forex market and the lira weakened sharply last week.