Author: Beste Kara (Beste Kara)

Turkey’s tourism revenues soared 32.3% to USD 8.69bn in the first quarter of the year, compared to the same period of the previous year, according to the Turkish Statistical Institute (TurkStat). The number of foreign tourists hosted by the country surged by 26.8% to 8.18 million in the same period. Turkish citizens residing abroad accounted...

The May 14 elections, which are considered “the election that will determine the fate of Turkey” by foreign banks, are approaching. Looking especially at the signs of a return to orthodox policies in the Turkish economy, the number of reports from famous banks containing consensus on interest rate policy is increasing. >> Interest rate cut,...

Levent Kafkasli, who has over 33 years of professional experience in the construction industry, has been appointed the General Manager of Calik Holding’s construction subsidiary GAP Insaat, according to a statement from Calik Holding. Kafkasli received his bachelor’s degree from Istanbul Technical University’s (ITU) Department of Civil Engineering in 1997 and his master’s degree from...

The United Nations Development Programme (UNDP) has delivered 20 containers to archeology museums in Hatay and Kahramanmaras to protect the cultural heritage of the quake-hit region in Turkey. 18 containers were delivered to the Hatay Archeology Museum while the remainder were sent to the Kahramanmaras Archeology Museum on April 6. The containers will be used...

The Central Bank, which held the Ordinary General Assembly meeting yesterday, didn’t include the information about the cost of the FX-protected TRY deposit accounts (KKM) borne by the bank in its activity report. The bank also didn’t distribute the profit and loss and profit appropriation statements at the meeting, which paved the way for criticism....

The size of the damage determined in the agriculture, manufacturing, and tourism industries in 11 provinces affected by twin quakes on February 6 is calculated at TRY 181.1bn, according to the latest report by the Presidency of Strategy and Budget. The biggest damage is in the manufacturing industry at TRY 154.7bn. The size of the...

The European Union (EU) members, which have approved Germany’s ‘e-fuel’ proposal, agreed on the ban of non-carbon vehicle sales by 2035. Vehicles with internal combustion engines can only be registered as new if they can be filled with carbon-neutral fuels, according to the decision. “If we don’t manufacture vehicles complying with this decision, we’ll lose...

The Central Bank’s Monetary Policy Committee (PPK) has decided to keep the policy rate (one-week repo auction rate) constant at 8.5% in line with market expectations. Here is the PPK statement: “Although recently released data point to a stronger economic activity than anticipated, recession concerns in developed economies as a result of geopolitical risks and...

Compensation receivables of eligible workers who started their retirement procedures after the regulation regarding the victims of delayed pension age (EYT) entered into force, led to a cash and payment rush in many enterprises. Some companies don’t put into process the resignations of their employees as the banks haven’t allocated loans yet, while others choose...