BY KORAY OZTOPCU Demands for digitalization and sustainable mobility have increased significantly with the pandemic and the production of chips and semiconductors, which are used in most of the devices we use in our daily lives, has recently become one of the most discussed issues in the global power balance. The use of chips is...
Category: Daily News
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The highest monthly CAD in the history of the republic
BY ALAATTIN AKTAS The current account deficit (CAD) broke the record in the republic’s history in January and reached USD 9.84bn. The previous record was broken in March 2011 when the current account balance posted a USD 9.4bn deficit. The annualized CAD, meanwhile, hit USD 51.7bn, according to the Central Bank. Who knows how many...
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What matters on Tuesday, March 21
Banks, which have been tested in terms of the balance sheet by the successive decisions to maintain negative interest rates, have raised the interest rate charged for commercial loans by 3.18 points to 16.1%. The figure, which hits a 4-month high, imposes an obligation to hold the Treasury bond with a record negative interest rate...
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What matters on Monday, March 20
The Nation Alliance’s Presidential candidate and Republican People’s Party (CHP) Chairman Kemal Kilicdaroglu expressed what the alliance does when it comes to the power at the Economic Congress of the Second Century in Izmir. Kilicdaroglu stated that a National Tax Council will be established. He also said the Final Accounts Commission will be established at...
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Dollar lost its savings instrument edge
BY ALAATTIN AKTAS The policy to hold the hike in foreign exchange (FX) rates, therefore curbing inflation, has frustrated those who relied on the dollar as a saving instrument. The dollar completely lost its savings instrument feature in the last six months. USD/TRY, which hit 17.99 in August 2022, averaged 18.82 in February 2023. USD/TRY...
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Quake-hit cities to get investment support
BY HUSEYIN GOKCE The scope of the Attraction Centers Program, which is aimed at making up the development disparities between regions and is implemented in 24 provinces currently, will be enlarged to cover all cities hit by twin quakes. The regulation announced by President Recep Tayyip Erdogan last week will be upgraded with a Presidential...
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15% of earthquake victim voters migrated
BY HUSEYIN GOKCE Elections on May 14 will be organized in a different atmosphere in 11 provinces hit by twin quakes on February 6. There are nearly 9.2 million voters in these cities. However, around 1.4 million were estimated to migrate to other provinces after the earthquake. Around 15% of voters in the quake-hit region...
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What matters on Tuesday, March 14
Industrialists have started to prepare to migrate from Istanbul due to the earthquake risk in the city, according to Muammer Omeroglu, Chairman of the Istanbul Industrialists and Businesspeople Associations Federation (ISIFED). Omeroglu told daily EKONOMI that industrialists focus on the cities which are located 300-400 kilometers from Istanbul, to relocate their manufacturing plants to the...
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A law specific to Istanbul is a must: Mayor of Istanbul
The quake-prone Istanbul is among the hot topics following the twin earthquakes in southeast Turkey. Mayor of Istanbul Ekrem Imamoglu and the Istanbul Metropolitan Municipality (IBB) team launched the ‘Istanbul Earthquake Mobilization Plan’ consisting of solutions, measure proposals, and cooperation. Ekrem Imamoglu said a law specific to Istanbul is obligatory. “Istanbul doesn’t need a new...
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Share of compensation of employees in the GVA hits a 25-year low
BY ALAATTIN AKTAS The share of compensation of employees in the Gross Value Added (GVA) THE was down from 30.1% to 26.5% in 2022, compared to the previous year, according to the Turkish Statistical Institute (TurkStat). The share of compensation of employees in the GVA has never been as low as 2022 over the past...