Turkey

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Turkish tourism sector may shrink 70% due to pandemic: Minister

Turkey's tourism sector will likely shrink 70% this year due to the coronavirus pandemic, the country's culture and tourism minister said on Nov. 26. 

"It looks like we will end 2020 with slightly over $11 billion in tourism revenues and over 15 million travelers," Mehmet Nuri Ersoy said in an online session of the 10th International Resort Tourism Congress.

Turkish Central Bank raises swap auction limit

The Turkish Central Bank on Nov. 26 increased its lira swap sale limits from 50% to 60%.

The bank raised the swap auctions limit in the Turkish Lira Swap Market for Foreign Exchange, according to information received by Anadolu Agency.

Previously, the bank had increased the limit from 40% to 50% in May.

The limit has been increasing gradually since last April from 20%.

Turkey's dollar-denominated bonds see high demand

The Turkish Treasury and Finance Ministry on Nov. 25 said its issuance of a dollar-denominated bond due in 2031 finalized with a nominal amount of $2.25 billion, seeing high demand from international capital markets.

As part of the 2020 external financing program, Goldman Sachs, HSBC and Morgan Stanley were authorized on Nov. 24 to issue the bonds.

Serbia, Turkey eye stronger defense industry ties

Serbia and Turkey are looking to improve defense industry ties, defense and diplomatic officials from both countries said on Nov. 25. 

A meeting in the capital Belgrade between Serbian Defense Minister Nebojsa Stefanovic and Turkish Ambassador Tanju Bilgiç stressed the need for more cooperation in the field of equipment and modernization, said a Serbian Defense Ministry statement.

Craftsman forges unique silver, gold facemasks

With facemasks part of our standard attire in the age of coronavirus, a Turkish metalsmith has stepped up to serve the niche market with something a bit more glam than your basic two-ply: masks made of precious silver and gold.

Sabri Demirci, 43, has been working as a skilled metalsmith for over three decades in the Turkish metropolis of Istanbul.

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