Turkeyâs gold imports plummeted by 94 percent on a monthly basis to 1.45 tons due to Ramadan and geopolitical tensions in the Middle East that steeply curbed demand, according to new figures.
The country bought 24 tons of gold in June 2013 and 37 tons of gold in July last year, according to figures announced by the Borsa Istanbul Precious Metals and Diamond Market on Aug. 6
Turkish assets has sunk after a survey showed a contraction in the countryâs manufacturing sector in July, with the index at its lowest in more than five years.
The dolar/lira ratio surpassed 2.15 level in the afternoon trading, touching its highest level in one-and-a-half-month, as the lira continued to slip against the U.S. currency.
A weak lira and high interest rates made the Turkish economy grew on the heels of exports in the first half of the year, but rising political risks to foreign trade raise uncertainties for the second half With the first half of the year behind us, the climate for the Turkish economy is totally different from the first half of last year.
The son of Prime Minister Recep Tayyip ErdoÄan, Bilal ErdoÄan, has terminated his partnership with a local cosmetics trade company.
ErdoÄan reportedly sold his 25 percent stake in Maye DÄ±Å Ticaret to an investor outside the firm on June 3, six years after becoming a partner of the company, which was founded in 2007.