Mehmet

Türkiye, UAE may sign deals: Şimşek

President Recep Tayyip Erdoğan will travel to the United Arab Emirates (UAE) later this month, Treasury and Finance Minister Mehmet Şimşek said, adding that some agreements could be signed during the president's visit.

Erdoğan's visit to the UAE will probably take place after a NATO summit on July 11-12, Şimşek told reporters after the cabinet meeting on July 3.

Türkiye ramping up efforts to boost reserves, says Şimşek

Türkiye is accelerating efforts aimed at obtaining additional foreign resources for the country in order to further strengthen its reserves, Treasury and Finance Minister Mehmet Şimşek said.

The Central Bank's net international reserves surged by $8.5 billion last week, Şimşek added in a post on Twitter, noting that this was the largest weekly increase ever on record.

Hotel occupancy rate at nearly 100 pct in some resort towns

Occupancy rates at resort towns on the Aegean coast have climbed to nearly 100 percent thanks to the long Eid al-Adha holiday, according to hoteliers in the region.

For instance, some 100,000 cars entered the popular destination of Bodrum in the province of Muğla within a space of four and a half days.

Central Bank moves to increase market mechanisms’ functionality

Türkiye's Central Bank has announced a measure aimed at simplifying its micro and macroprudential framework.

In a statement released on June 25, the bank recalled that the Monetary Policy Committee (MPC) said following the rate-setting meeting on June 22 that the existing micro and macroprudential framework would be gradually simplified, guided by impact analyses.

Business circles welcome rate hike decision

Leaders of business associations have welcomed the Central Bank's move to hike its policy rate sharply by 650 basis points, calling it a step taken toward ensuring price and financial stability.

The Central Bank on June 22 increased its one-week repo auction rate from 8.5 percent to 15 percent. This has been the first rake hike since March 2021.

VP Yılmaz, Finance Minister Şimşek visit UAE

Vice President Cevdet Yılmaz, Treasury and Finance Minister Mehmet Şimşek have traveled to the United Arab Emirates for a one-day working visit.

The duo will hold a series of meetings and will meet with President Sheikh Mohammed bin Zayed Al Nahyan to discuss cooperation opportunities between the two countries, said the Turkish Presidency's Communications Directorate.

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