TR Economy & Updates

[Saithan]

Turkey's budget balance posts $3.3 bln surplus in February - Latest News

The Turkish central government's budget balance registered a 23.2 billion Turkish liras ($3.3 billion) surplus this February, after posting a deficit in the last two months, official figures revealed on March 15.

www.hurriyetdailynews.com

 

[Saithan]

Shift toward local production slashes Turkey's arms imports: SIPRI

Over the last five years, the number of international arms transfers has leveled off, but this does not necessarily mean that the world is moving toward...

www.dailysabah.com

 

[Saithan]

Turkey’s new price committee to bolster central bank's hand: Elvan

The newly announced price stability committee will complement and strengthen the hand of the central bank’s monetary policy, Turkey’s treasury and...

www.dailysabah.com

 

[akrepon]

Turkish ministry revokes mining license of Alamos Gold - Latest News

The Agriculture and Forestry Ministry has revoked the mining license of Alamos Gold, a Canadian-based intermediate gold producer, on the grounds that the firm’s license to mine gold in Kaz Mountains was not extended.

www.hurriyetdailynews.com

Let's hope area get's reforested again, though I assume the gold fever might cause more damage, and more attractive... At least keep the minin job in Turkish hands.

Excellent news. This is a good answer to their embargo. This is the language they understand.

 

[Cypro]

Turkey’s new price committee to bolster central bank's hand: Elvan

The newly announced price stability committee will complement and strengthen the hand of the central bank’s monetary policy, Turkey’s treasury and...

www.dailysabah.com

Nobody believes or trusts you after you make fake reforms couple of times and turn back to your agenda.. When Mr. President stop interfering the economic policies with his religious economics and when he stop jailing people for their thoughts, then investments will return back to normal.. If I am investing my money to a country I want to be sure that I would rely on laws and courts when I came across with and unfair situation, and a stable environment (especially the exchange rate). President of Turkey will not remain silent and nobody will believe these fake reforms )

 

[Test7]

Ford Otosan to make $2.4B investment, largest ever for Turkish automotive industry​

Ford Otosan, a joint venture of Turkey's Koç Holding and U.S. automotive giant Ford, will make a 2 billion euro (nearly $2.4 billion) investment, the largest amount for the Turkish automotive industry to date, its chairman of the board announced Tuesday.

With the new investment, the carmakers' factory in the industrial Kocaeli province will become Turkey's first and only electric vehicle integrated production facility, including battery, Ali Koç told a meeting in the capital Ankara.

"Making the largest automotive investment in our history is the greatest proof of our community and our partner Ford Motor Company's faith in our country," he noted.

"We see this investment, which will span across 10 years, as a strategic move forward."

Ford Otosan to invest $2.4B, largest ever for Turkish auto industry

Ford Otosan, a joint venture of Koç Holding, Turkey’s largest conglomerate, and U.S. automotive giant Ford, Tuesday announced it will be making a 2...

www.dailysabah.com

 

[Deliorman]

Now that’s some good news...

 

[Ryder]

Ford Otosan to make $2.4B investment, largest ever for Turkish automotive industry​

Ford Otosan, a joint venture of Turkey's Koç Holding and U.S. automotive giant Ford, will make a 2 billion euro (nearly $2.4 billion) investment, the largest amount for the Turkish automotive industry to date, its chairman of the board announced Tuesday.

With the new investment, the carmakers' factory in the industrial Kocaeli province will become Turkey's first and only electric vehicle integrated production facility, including battery, Ali Koç told a meeting in the capital Ankara.

"Making the largest automotive investment in our history is the greatest proof of our community and our partner Ford Motor Company's faith in our country," he noted.

"We see this investment, which will span across 10 years, as a strategic move forward."

Ford Otosan to invest $2.4B, largest ever for Turkish auto industry

Ford Otosan, a joint venture of Koç Holding, Turkey’s largest conglomerate, and U.S. automotive giant Ford, Tuesday announced it will be making a 2...

www.dailysabah.com

Build a Ford supercar!!

 

[Saithan]

Tripoli invites Turkish firms to build Libya’s new trade port

Turkish companies will help build a commercial port in war-torn Libya if a deal is agreed. The country’s United Nations-recognized Government of National...

www.dailysabah.com

 

[Bogeyman]

https://twitter.com/i/web/status/1371839667474153481

 

[Saithan]

Turkey has quite a resilient economy, EBRD economist says

Turkey has quite a resilient economy that tends to recover rapidly from shocks, a leading economist at the European Bank for Reconstruction and Development...

www.dailysabah.com

 

[Saithan]

More tightening on the way? Interest rate day for Turkish central bank

In what is seen as the biggest test since its new governor was appointed in November, Turkey’s central bank is due Thursday to decide on whether to raise...

www.dailysabah.com

Interest rate hike incoming ppl. Not doing so would jeopardize the attempt to keep it stable. And FDI won't come if it isn't hiked either.

This is partly what I meant/warned about, if government chooses not to actively fight back the inflation, defensive policy won't yield any benefits for the citizens, who are getting meagre earnings.

If government doesn't follow a policy reducing debt/buying TL, then we're going to be enjoying high interest rates which will come rolling, until it's an avalanche.

 

[Saithan]

Turkey's assets abroad total $246.3 bln in January - Latest News

Turkey's external assets reached $246.3 billion as of this January, a decline of 2.3% from the end of last year, the Turkish Central Bank data showed on March 18.

www.hurriyetdailynews.com

Interesting, at least it's good to see the reduction of 0,9%, I would prefer more though.

 

[Saithan]

'Above and beyond': Turkey's central bank sharply hikes key policy rate to 19%

Turkey’s central bank on Thursday hiked its benchmark policy rate by 200 basis points to 19%, twice the market forecast in what it called a...

www.dailysabah.com

Bingo 19%... it'll be increased again in 3-6 months, unless things starts going down even faster.

 

[the]

https://twitter.com/i/web/status/1373048749077958657

BREAKING — Erdogan sacks Turkish Central Bank’s Governor Nagci Agbal This decision comes as Agbal hiked interest rates 200 points earlier this week He got just sacked 5 months after his assignment to this post

 

[the]

Erdogan assigns Şahap Kavcioglu, an academic and a columnist for conservative pro-gov’t Yeni Şafak, as replacement to the Turkish Central Bank Yeni Şafak on Friday attacked Agbal from the front page, accusing him of conducting an operation against the Turkish economy by hikes


Turkey’s new governor of Central Bank in February: • CBRT shouldn’t insist on its high interest rate policy
• Many countries with domestic/foreign problems have negative real interest rates so could Turkey
• Rate hikes indirectly creates inflation

 

[what]

Wow just wow.

 

[Merzifonlu]

Wow just wow.

Alice in Wonderland!

From now on, when will Devlet Bahçeli break this partnership? Obviously political consequences will be severe due bad economy.

 

[Deliorman]

Turkey is being run by absolute imbeciles- and I don’t say it because I love high interest rates but because it is true.

The clique of uneducated corrupt peasants and thieves that occupies and destroys every institution in Turkey with their incompetence manages to create even bigger mess and more problems with every passing day.

Absolute idiots.

 

[Glass🚬]

Uffff, man needs to chill.