Latest New Turkish lira News

Saudi writer's disappearance strains Turkey-Saudi ties

Oct. 13, 2018 10:50 AM EDT

DUBAI, United Arab Emirates (AP) — At first glance, the disappearance of journalist Jamal Khashoggi from the Saudi Consulate in Istanbul is just the latest crisis to strain relations between the kingdom and Turkey in the wake of the Arab Spring in 2011. Yet, like elsewhere in the region, things are more...

Turkish yearly inflation jumps to almost 25 percent

Oct. 3, 2018 3:42 AM EDT

ANKARA, Turkey (AP) — Turkey's statistics agency says the country's inflation rate jumped to almost 25 percent in September amid a sliding currency. The State Statistics Institute figures released on Wednesday showed that the consumer price index was 24.5 percent in September compared with the previous...

Euro 2024 study: Human rights concern in Turkey, not Germany

Sep. 21, 2018 12:27 PM EDT

A week before the 2024 European Championship hosting vote, UEFA expressed concern on Friday about Turkey's human rights record and logistics, while raising no significant issues with Germany's proposals in an evaluation of the two bids. Turkey has taken an increasingly repressive direction under Recep Tayyip...

Turkey expects lower growth amid currency turmoil

Sep. 20, 2018 10:14 AM EDT

ISTANBUL (AP) — Turkey expects lower economic growth in coming years amid concerns over inflation and a sliding currency. Treasury and Finance Minister Berat Albayrak presented the government's economic plan Thursday, which estimates 2.3 percent growth in 2019 and 3.5 percent in 2020. The previous forecast...

5 ways Trump's tariffs on $200B in China goods could be felt

Sep. 18, 2018 8:29 AM EDT

BALTIMORE (AP) — By imposing taxes on an additional $200 billion in Chinese goods, President Donald Trump has intensified a battle of wills between the world's two largest economies — and the outcome is far from certain. No one knows how long the tariffs announced Monday might last. No one knows if...

Asian shares continue rally after Wall Street gains

Sep. 13, 2018 11:32 PM EDT

TOKYO (AP) — Asian shares were mostly higher Friday, continuing their rally after gains on Wall Street and hopes that regional trade tensions may ease. KEEPING SCORE: Japan's benchmark Nikkei 225 gained nearly 1.0 percent to 23,042.83 in the morning session. Australia's S&P/ASX 200 was up 0.6 percent...

Turkish central bank raises rates to stem currency crisis

Sep. 13, 2018 12:03 PM EDT

ANKARA, Turkey (AP) — Turkey's central bank on Thursday raised its key interest rate sharply, from 17.75 percent to 24 percent, to contain inflation and stem the currency crisis that has been destabilizing the country this summer. The bank's move is long overdue, many independent economists say, and...

World stocks rise on report of US-China trade talks

Sep. 13, 2018 8:35 AM EDT

SINGAPORE (AP) — Many global markets climbed Thursday following a report that the U.S. has proposed a new round of trade negotiations with China before going ahead with plans to slap tariffs on $200 billion or more in Chinese goods. Investors also appeared heartened by an interest rate increase by Turkey...

The Latest: Turkish central bank raises rates sharply

Sep. 13, 2018 7:15 AM EDT

ANKARA, Turkey (AP) — The Latest on Turkey's financial turmoil (all times local): 2:15 p.m. Turkey's central bank has raised its key interest rate sharply, from 17.75 percent to 24 percent, to contain inflation and support the currency after steep declines this year. The bank's monetary policy committee on...

Turkey's economy slowed in second quarter as currency slid

Sep. 10, 2018 4:13 AM EDT

ANKARA, Turkey (AP) — Official data show that Turkey's economy slowed in the second quarter of 2018 as its currency was sliding. The figures released Monday by the Turkish Statistics Institute indicated that the economy grew by 5.2 percent in the second quarter compared with a year earlier. That is down...