Economy
Finance, markets and economy news
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Automotive Brands Launch Holiday Discounts Ahead of Festivities
As the holiday season approaches, automotive manufacturers have unveiled a range of discounts and promotional campaigns to attract customers. These initiatives are designed to boost sales during this critical time of year.
Turkey Identifies Four Key Areas for Offshore Wind Energy Development
Turkey's Ministry of Energy and Natural Resources has announced four designated areas for its inaugural offshore wind renewable energy resource zones. This initiative marks a significant step towards expanding the country's renewable energy capabilities.
Turkey and Kazakhstan Set Trade Target at $15 Billion
During an official visit to Kazakhstan, President Erdoğan highlighted the importance of trade relations between the two nations, announcing a new target of $15 billion in trade volume.
Fatih Erbakan Criticizes Central Bank's Inflation Target Revision: 'The Public's Patience Has Run Out'
Fatih Erbakan, leader of the New Welfare Party, has expressed strong disapproval of the Central Bank of Turkey's decision to raise its inflation target for 2026, asserting that the public's tolerance is exhausted and calling for immediate elections.
The American Dream of Home Ownership: A Diminishing Reality
As the American Dream of home ownership becomes increasingly elusive, a recent White House report highlights the urgent need for 10 million new homes. The surge in home prices and rental costs poses significant challenges for workers across the country.
Exploring the Shadows of Nigeria's Cryptocurrency Boom: Opportunities and Risks
As inflation and naira devaluation drive Nigerians towards cryptocurrency, the allure of financial success is overshadowed by rampant scams and fraud. Authorities are now stepping in to regulate the burgeoning market and protect victims.
Urgent Alert for Automatic Bill Pay Users: Your Account Could Go Overdrawn
Users of automatic bill payment services are being warned about the potential risks of having their accounts unexpectedly overdrawn. Financial experts advise regular monitoring of account balances.
Understanding Why ATMs Retain Cards: Insights Revealed
Recent investigations have uncovered the reasons behind ATM machines retaining bank cards, shedding light on a common frustration among users. This article explores the mechanisms and precautions involved in card retention.
Bert Flossbach Discusses the MSCI World Index Amid Record Stock Prices
In an exclusive interview, fund manager Bert Flossbach shares insights on the recent surge in stock prices despite geopolitical tensions, highlighting concerns regarding the MSCI World Index's reliance on artificial intelligence growth.
Retirement Salary Increase: Clarity on SSK and Bağ-Kur Pension Rates Following April Inflation Data
The rate of increase for pensions in Turkey has become clearer with the release of April's inflation figures. Attention now shifts to the upcoming inflation data for May and June, which will finalize the pension salary adjustments for July.
Honda Faces First Financial Loss in Over Six Decades Amid Shift in EV Strategy, Yet Shares Surge on 2026 Outlook
Honda has reported its first financial loss since 1957, as the company reassesses its aggressive transition to electric vehicles. However, shares experienced an uptick following optimistic forecasts for 2026.
Turkey's Central Bank Inflation Report Released: Key Projections for 2026-2028
The Central Bank of the Republic of Turkey (CBRT) has unveiled its latest inflation report, drawing significant attention from markets and investors. The report includes crucial year-end expectations and medium-term inflation forecasts that are expected to influence currency, interest rates, and gold prices.
Germany's Proposal for Automotive Reform: Implications for Climate and Transportation
The Union and SPD are advocating for further exceptions to the ban on combustion engines in Brussels. A recent study highlights potential repercussions, suggesting that the adoption of electric vehicles may slow down, leading to an increase in oil imports and CO₂ emissions.
CHP's Cevdet Akay Critiques Central Bank's Inflation Target Adjustment
Cevdet Akay, a member of Turkey's CHP, has responded to the Central Bank of Turkey's revised inflation target of 24%, stating it merely reflects the reality faced by citizens for months.
Retirement Bank Bonus Campaigns for May 2026: Key Offers from Major Banks
As May 2026 approaches, retired individuals are exploring bank bonuses ahead of the Eid al-Adha holiday. Various banks are offering competitive promotions, with some bonuses reaching up to 100,000 TL depending on the institution.
Live Gold Prices on May 14: Current Rates for Gram, Quarter, and Republic Gold
As of May 14, 2026, gold prices continue to fluctuate, attracting significant attention from both investors and the public. The latest updates on the prices of gram, quarter, half, and Republic gold reflect the ongoing market dynamics influenced by global events.
Japanese Automotive Giant Reports Loss for the First Time in 70 Years
In a significant turn of events, a prominent Japanese automotive manufacturer has announced a financial loss for the first time in seven decades, marking a historic moment in the company's history.
Rare Plant Worth Its Weight in Gold Thrives in Turkey's Five Provinces
A unique plant, valued like gold, has gained remarkable popularity in Turkey, flourishing in only five provinces. This botanical treasure is attracting attention for its potential benefits and market value.
Judge Questions Settlement in Elon Musk's Twitter Acquisition Case
A judge has expressed concerns over a proposed $1.5 million penalty for Elon Musk's investment firm regarding alleged misconduct in the 2022 Twitter acquisition. The judge has identified 'irregularities' and is hesitant to approve the deal.
Nvidia's CEO Jensen Huang Joins Trump-Xi Summit to Discuss Chip Sales to China
Jensen Huang, the CEO of Nvidia, participated in a high-profile summit between US President Donald Trump and Chinese President Xi Jinping, aiming to negotiate the easing of chip sales restrictions to China. The meeting reflects ongoing efforts to strengthen economic ties between the two nations.
Calbee Adopts Monochrome Packaging Amid Rising Ink Costs Linked to Iran Conflict
In response to a shortage of printing ink, Japanese snack manufacturer Calbee has announced that it will temporarily switch to black-and-white packaging for 14 of its products. This decision is attributed to the ongoing geopolitical tensions affecting global supply chains.
Green Party Lawmaker Advocates for Increased Tax Rates on High Earners
Andreas Audretsch, a budget policy spokesperson for the Green Party, has proposed specific tax rate increases for high-income individuals amid ongoing discussions within the coalition regarding income tax reforms.
Meat Prices Soar to 150 Lira per Kilogram: Diners Forget the Taste
Meat lovers are flocking to purchase high-quality cuts as prices hit 150 lira per kilogram. Many consumers report that the exceptional flavor of the meat overshadows its increasing cost.
Global Markets Continue Tech Rally: Anticipation Builds for Trump-Xi Meeting
The technology sector is experiencing a sustained rally across global markets, with investors closely monitoring the upcoming meeting between Donald Trump and Xi Jinping. This meeting is expected to have significant implications for market dynamics and international relations.
Consumers Warned About Fake Online Livestock Ads for Sacrificial Animals
Neşet Gündüz, the President of the Antalya Branch of the Consumers Union, has issued a warning to citizens looking to purchase sacrificial animals online. He cautioned against fraudulent advertisements featuring misleading images of animals.
Mansur Yavaş Commemorates World Farmers' Day: 'We Stand by Our Producers'
Mansur Yavaş, the President of Ankara Metropolitan Municipality, celebrated World Farmers' Day on May 14, emphasizing the critical role of farmers in ensuring food security. He reaffirmed ongoing support for local producers with substantial rural development funding.
Turkey's Central Bank to Unveil Key Inflation Report Amid Economic Uncertainty
The Central Bank of the Republic of Turkey (CBRT) is set to release its second Inflation Report of the year today, offering crucial insights into the nation's economic outlook and inflation forecasts. This report comes at a time when both global and domestic economic challenges persist.
Vegetable Prices Surge Over 100% Annually, Leading Agricultural Inflation
Vegetables have emerged as the leading contributor to agricultural price inflation, with annual increases surpassing 100%. This sharp rise reflects broader trends affecting the agricultural sector.
Caution Advised: New Online Real Estate Scam Emerges
Experts warn consumers to be vigilant as a new wave of real estate scams takes to social media, evading electronic verification systems designed to combat fraud.
Immediate Action Required: Salary Garnishment for Inaction within 90 Days
Individuals who fail to take action within a 90-day window may face salary garnishment, highlighting the urgent need for compliance with new regulations.
Stock Market Opens on a Positive Note - May 14, 2026
The stock market commenced trading today with an upward trend, reflecting a positive investor sentiment. Analysts attribute this rise to various economic indicators signaling growth.
Heating Law Proposal Faces Strong Backlash from Regulatory Council
The Regulatory Council has voiced significant criticism of the proposed heating law, describing it as weak and impractical for property owners. The council's comments highlight concerns over the law's clarity and feasibility.
Major Company Exits Turkey, Offers Employees 12 Months' Gross Salary as Bonus
A prominent firm withdrawing from Turkey has announced a substantial severance package for its employees, amounting to 12 months' gross salary. This decision comes amid the company's strategic restructuring efforts.
Automaker Giant Reveals New Location for Factory in Turkey
A leading automaker has announced its decision to establish a new manufacturing facility in Turkey, marking a significant investment in the region's automotive sector.
Legendary Automotive Brand Bids Farewell as 79-Year-Old Factory Shuts Down
The automotive industry is mourning the closure of a storied brand as its 79-year-old factory ceases operations, marking the end of an era in automotive manufacturing.
Government Fails to Support Miners Once Again
In a concerning trend, miners find themselves abandoned by authorities, raising alarms about the industry's future. This ongoing neglect highlights the urgent need for government intervention and support for the mining sector.