Home Daily News

Category: Daily News

Post
What matters this morning

What matters this morning

Today is the eve of Eid al-Adha, which is one of the two religious holidays celebrated within Islam. It honors the willingness of Prophet Ibrahim (Abraham) to sacrifice his son Ismail (Ishmael) as an act of obedience to God’s command. Before Ibrahim could sacrifice his son, however, Allah provided a lamb to sacrifice instead. In commemoration of this intervention, animals are sacrificed ritually....

Post
New company launches jump in June

New company launches jump in June

A total of 9,560 new companies were established in June, up 113.4% on a monthly basis, according to the Union of Chambers and Commodity Exchanges of Turkey (TOBB). Some 1,226 companies went out of business last month, up 120% from the previous month, the TOBB said. It said 85.8% of the new firms were limited...

Post
What matters this morning

What matters this morning

The COVID-19 pandemic shows an upward trend again prior to the 9-day holiday to start midnight. The number of daily coronavirus cases saw 7,304 and the death toll reached 48 in the last 24 hours.  Health Minister Fahrettin Koca said this week after the Cabinet meeting that the increase mainly stemmed from the regions, where...

Post
What matters this morning

What matters this morning

July 15 was made a national holiday in 2016 to mark the coup attempt, which was carried out by a fraction within the Turkish Armed Forces that organized themselves as the Peace at Home Council. They attempted to seize control of several places in Ankara, Istanbul, Marmaris and elsewhere, such as the Asian side entrance of the Bosphorus Bridge but failed to do...

Post
What matters this morning

What matters this morning

As we approach to the weekend after a busy agenda in terms of economic data, the markets are focused on Central Bank’s interest rate decision. The interest rate, which has been set as 19%, is expected to remain unchanged due to the upward risks in inflation, according to surveys. The Monetary Policy Committee (PPK) is...

Post
Industrial production up by 41

Industrial production up by 41

The calendar-adjusted industrial production jumped 40.7% in May compared to the same month last year, according to the Turkish Statistical Institute (TurkStat). The improvement in the base effect was especially backed by the sub-index of the manufacturing sector, data from TurkStat showed. The manufacturing index soared 42.8% year-on-year in May, while the mining and quarrying...

Post
What matters this morning

What matters this morning

Turkey is approaching a nine-day holiday period. Most people have already left big cities for seaside resorts by combining their annual leaves with the coming holiday period of the Muslims’ Eid al-Adha, which President Recep Tayyip Erdogan announced as from midnight on July 16 to midnight on July 25. Travelers on highways and bridges will...

Post
Unemployment rate down to 13.2% in May

Unemployment rate down to 13.2% in May

The unemployment rate was 13.2% in May, decreasing 0.6 percentage points from the previous month, according to the Turkish Statistical Institute (TurkStat). The rate was also down by 0.3 percentage points versus the same month last year, TurkStat said in a statement. The number of unemployed aged 15 and over decreased by 265,000 month-on-month to...

Post
Auto production and exports up in H1

Auto production and exports up in H1

Turkey’s automotive production, including light commercial vehicles, tractors, and automobiles, amounted to 639,661 units during the first half of this year, according to the Automotive Manufacturers Association (OSD). The six-month figure was up by 23.3% versus the first half of 2020, the OSD said. Passenger car production increased by 14.8% to 416,021 units in the...

Post
House sales on the rise

House sales on the rise

The country saw 552,812 houses sold in the first half of 2021, according to the Turkish Statistical Institute (TurkStat). The number of residential properties sold in the country fell 11.5% year-on-year in January-June, the TurkStat data showed. The institute noted that 167,878 new houses were sold across the country, while the rest were second-hand sales....