Turkish lira

Turkey’s gold imports sink by 94 percent over previous month

Turkey’s 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 weaken after manufacturing index drops to 5-year low

Turkish assets has sunk after a survey showed a contraction in the country’s 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.

Low growth, low foreign trade deficit in Turkey

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.

Turkish PM's son Bilal Erdoğan sells his stakes in cosmetic firm

The son of Prime Minister Recep Tayyip Erdoğan, Bilal Erdoğan, has terminated his partnership with a local cosmetics trade company.

Erdoğan reportedly sold his 25 percent stake in Maye Dış Ticaret to an investor outside the firm on June 3, six years after becoming a partner of the company, which was founded in 2007.