In 2020, investment demand in Turkey was 25% higher compared to 2019 and it will be much higher this year with the government’s reform agenda, said the technology and industry minister on Friday.Mustafa Varank on Twitter noted that of the investments …
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Turkey to fine vendors selling food at high prices
Turkey’s President Recep Tayyip Erdogan said on Friday that heavy fines will be imposed on vendors selling food at high prices.Those who are responsible for high food prices will face heavy penalties, Erdogan said in a speech after Friday prayer in Is…
UPDATE – US Federal Reserve keeps interest rate unchanged
The US Federal Reserve said Wednesday it kept its benchmark interest rate unchanged between the 0.00% – 0.25% range during its last scheduled meeting in 2020.The Fed said “economic activity and employment have continued to recover but remain well below…
Turkey: Economic confidence up 1.6% in January
The confidence in the Turkish economy rose month-on-month in January, said the country’s statistical authority on Thursday.The economic confidence index reached 96.2 this month, up 1.6% from 94.7 in December, TurkStat said.The monthly rise was driven b…
Turkey’s exports of home textile products fetch $2.49B
Turkey exported home textile products worth over $2.49 billion to 194 countries and autonomous regions last year, according to data released by an industry group.A majority of the exports were made to the Western countries — Germany ($480.6 million), …
Borsa Istanbul down at Thursday open
Turkey’s benchmark stock index opened at 1,450.54 points on Thursday, down 1.12% or 16.46 points from the previous close.Borsa Istanbul’s BIST 100 index dropped 4.50% to close at 1,467.00 on Wednesday, with a daily trading volume of 34.3 billion Turkis…
US economy sees greatest contraction since 1946
The American economy contracted 3.5% in 2020, according to the Commerce Department on Thursday, marking the worst decline in gross domestic product (GDP) since 1946.The economy grew at a 4% annualized rate in the fourth quarter but that was not enough …
Tesla posts record quarterly revenue of over $10B
Tesla Inc posted record quarterly revenue of more than $10 billion for the first time in history in the October-December period last year, according to its financial results statement released Wednesday.The US electric vehicle maker saw its revenue soa…
Taiwan’s investments in Turkey up 10-fold: Official
Taiwan’s direct investment in Turkey has increased 10-fold and the number of Taiwanese tourists visiting the country has surged four times over the past seven years, Taiwan’s head of economic and cultural mission in Ankara said on Thursday.Speaking to …