Business

Türkiye Proposes $551 Billion 2027 Budget, Focuses on Inflation Reduction and Growth

Türkiye has announced a proposed budget of approximately 27.28 trillion Turkish lira ($550.8 billion) for the year 2027, focusing on fostering economic growth and improving housing infrastructure. Vice President Cevdet Yılmaz highlighted the budget's aim to bolster the country's economic resilience, enhance investment, and uplift living standards amid ongoing global economic challenges. The proposal is set to be presented to Parliament for approval. The government...

IMF Forecasts 3.1% Global Growth for 2026, Highlights AI and Debt Risks

The International Monetary Fund (IMF) has adjusted its global economic growth forecast for 2026 to 3.1%, a slight increase from its previous prediction of 3.0%. However, this remains below the 3.5% growth experienced in 2025. Looking ahead, the global economy is projected to expand by 3.4% in 2027. The IMF attributes part of the economic resilience to investment in artificial intelligence (AI), which helps counterbalance...

Erdoğan and Prabowo Discuss Strengthening Türkiye-Indonesia Trade and Defense Ties

Turkish President Recep Tayyip Erdoğan and Indonesian President Prabowo Subianto recently discussed ways to enhance cooperation between Türkiye and Indonesia during a phone conversation....

Erdoğan Asserts Türkiye’s Capital Markets Stable Despite Fund Sector Issues

Turkish President Recep Tayyip Erdoğan affirmed the resilience of Türkiye’s capital markets, emphasizing that recent issues in the investment fund sector are contained and...

Arctic Security Pact Signed by US, Denmark, Greenland

The United States, Denmark, and Greenland have reached an agreement to bolster security cooperation in the Arctic, allowing a significant expansion of the U.S....

Türkiye Launches Challenging Oil Exploration in Western Black Sea

Türkiye is set to embark on a technically challenging oil drilling venture in the western Black Sea as part of its ongoing initiative to...

Investors Brace for US Inflation Data with Gold Steady at $4,400

Gold prices are hovering near $4,400 an ounce as investors await new U.S. inflation data that could impact the Federal Reserve's upcoming interest-rate decisions....

Investors Rally as Anticipation of Rate Hikes Diminishes

Equity markets worldwide experienced an upswing on Friday as the likelihood of an imminent interest rate hike by the US Federal Reserve appeared to...

Google Successfully Defends Against US Antitrust Division Proposal

A U.S. judge has ruled against the Department of Justice's effort to compel Google to divest its advertising exchange, AdX, enabling the tech giant...

Turkey Finalizes Withdrawal from Foreign Exchange-Protected Deposit Program

Türkiye has successfully concluded its withdrawal from the FX-protected deposit scheme known as KKM, as official banking figures confirm the account volumes have dwindled...

Central Bank Boosts Türkiye’s Reserves by $40 Billion Since June

The central bank reserves of Türkiye have seen a significant increase, climbing by nearly $40 billion since the end of June. This surge has...

Anthropic Poised to Rival SpaceX with 2026’s Largest IPO Attempt

Anthropic is positioning itself as a formidable contender against SpaceX in the race for the largest initial public offering (IPO) slated for 2026. As...

Apollo Global Management to Acquire EasyJet in £5.7 Billion Deal

EasyJet has confirmed its acceptance of a £5.7 billion acquisition offer from Apollo Global Management, a US-based private equity firm, following the withdrawal of...

Erdoğan and Senegal President Enhance Trade, Defense Ties in Talks

In a recent phone conversation, Turkish President Recep Tayyip Erdoğan and Senegalese President Bassirou Diomaye Faye discussed ways to enhance bilateral relations, focusing on...