Economy

Turkey’s largest defence manufacturer hits record growth amid pandemic

Turkish defence giant ASELSAN’s revenue increased last year by 24 percent, reaching $2.23 billion, as the company signed export contracts worth over $450 million.

Erdogan: Turkish economy well-positioned to compete on world stage

Turkey's foreign exchange reserves stand at $95 billion and are poised to grow larger in the coming days, says Turkey's President Recep Tayyip Erdogan while speaking to a Provincial Congress of his governing Justice and Development Party in Izmir.

What can you buy with Bitcoin?

From purchasing goods via online retailers, bill payments to donations, there are several ways that Bitcoin holders can spend the cryptocurrency.

Fitch: Turkey's outlook stable, credit rating 'BB-'

Rating agency Fitch keeps Turkey’s credit status at “BB-” and revises outlook from “negative” to “stable”.

Why are gold prices falling?

After a rapid rise in 2020, the price of gold has plunged in recent months due to a weakening demand by central banks, a lacklustre jewellery market and weak investor interest.

Bitcoin nears $50,000 as wider adoption fuels growth

After long being shunned by traditional financial firms, bitcoin and other virtual currencies appear to be increasingly entering the mainstream as an asset and routine payment vehicle.

EU lawmakers approve $815B recovery programme

To receive their share of the money, EU members must submit their plans for the funds by the end of April, with at least 37 percent of planned budgets dedicated to fighting climate change.

Syrian student gets 800 job rejections as German economy sees sharp decline

Abdul Kader Tizini, who has a master’s in engineering from a top university, finds it’s even harder to find work as a foreigner as virus-driven hiring freezes and layoffs pit him against native graduates and unemployed professionals.

Elvan: Turkey will never compromise on measures to fight inflation

Turkish Finance Minister Lutfi Elvan says January inflation figures far from targets as country posts 14.97 percent annual rise in consumer prices for the past month.

IMF: Pandemic to slash $22T off global GDP in 2020-25

Global economy will grow 5.5% this year, but it will continue to face "exceptional uncertainty" due to new waves of infections, IMF says.

China's Xi calls for economic cooperation, warns against 'new Cold War'

World leaders hold a virtual G20 event headlined “A Crucial Year to Rebuild Trust”, instead of the traditional January event in Davos, Switzerland.

Biden to sign order to address growing hunger crisis

US President Joe Biden is signing two executive orders that will increase food aid, protect job seekers on unemployment and clear a path for federal workers and contractors to get a $15 hourly minimum wage.