Following Trade Minister Ruhsar Pekcan's remarks regarding government support for all areas of exports, a new regulation was published in the Official Gazette, stipulating granting green passports, which ease visa requirements for plenty of countries, to exporters with an annual volume higher than 500,000 dollars.
Main opposition Republican People's Party (CHP) Deputy Faik Öztrak has blasted the latest official inflation figures provided by the Turkish Statistical Institute (TÜİK), claiming that the actual figures are much higher. Öztrak urged TÜİK to reveal the details of their research.
Halkbank's lawyer Andrew Hruska has said that they will seek dismissal of the U.S. indictment, while also calling on Judge Berman to recuse himself over the court's impartiality.
Fitch has revised Turkey's outlook from "negative" to "stable" and affirmed its “BB-“ rating. “Turkey has continued to make progress in rebalancing and stabilizing its economy," Fitch analysts said.
According to Russia's agricultural watchdog, Mediterranean fruit flies were found in the tangerines sent from Turkey, which was followed by the Russian authorities banning their entrance to the country.
Food inflation has increased by 36.9 percent in October in comparison to the same month last year, according to a study by the Birleşik Kamu İş labor union confederation. The largest year-on-year prices increases were fruits and vegetables, which surged 78.7 and 68.2 percent respectively.
The official reserves of the Central Bank of the Republic of Turkey totaled $101.1 billion in September. The data showed that total reserve of Bank's assets in Sept. fell 0.4% from previous month.
A number of Turkish companies were targeted in cyber attacks, including the country's telecom giant Türk Telekom and Garanti BBVA bank, which caused disruptions in their website accesses.
The number of Turkish billionaires featured on the 'world's billionaires' list announced every March by the American business magazine Forbes, went down from 36 to 25. The total wealth of Turkish billionaires also fell by 33.3 percent and dropped from 64.7 billion to 43.1 billion dollars.
The former jailed executive at Turkey's state-owned Halkbank, Hakan Atilla, was named general manager at the Istanbul stock exchange. U.S. prosecutors last week charged Halkbank with partaking in a multibillion-dollar scheme to circumvent U.S. sanctions against Iran. The charges disclosed by the prosecutors against Halkbank mirror those against Hakan Atilla.
The revenue target for income taxes in the 2020 budget has been raised to a record 785 billion lira. Experts say that the government has decided to increase the tax burden on society after the economic crisis and increased public spending put the administration in a difficult financial position.
As relations between Ankara and Washington undergo tough times, a new indictment regarding Halkbank adds yet more strain on ties between the two countries, with the bank being accused of circumventing Iranian sanctions.
German carmaker Volkswagen will delay investment of a factory it was planning to build in the Turkish province of Manisa due to the political uncertainty surrounding Turkey's ongoing operation in northeastern Syria, according to a report in the German newspaper Handelsblaat.
Amid a serious period of economic difficulties in Turkey, the automotive industry, one of the most important in the country, has taken a hit. The production of automobiles in Turkey decreased by 9 percent between January and September of this year in comparison to same period during 2018, according to recent figures from the Automotive Industry Association.
Turkey's lira hit its weakest in a month , as investors worried about Ankara's planned incursion in northern Syria and President Donald Trump warned he could destroy the Turkish economy if it takes the operation too far.