Economy

Economy

Unemployment rate down to 8.5 pct in October

Credit growth aligns with disinflation path: Central Bank

Türkiye enters high-income league for first time: Yılmaz

Vice President Cevdet Yılmaz said on Nov. 27 that Türkiye will join the high-income countries category for the first time this year under World Bank criteria, after rising from lower-middle to upper-middle income over the past quarter-century.

Carney advances new Canada oil pipeline, raising climate concerns

Canadian Prime Minister Mark Carney signed an agreement with the western energy-producing province of Alberta to advance a new oil pipeline, sparking immediate concerns about Ottawa's commitment to battling climate change.

JP Morgan says it will build the biggest office block in London

Global banking giant JP Morgan Chase announced plans on Nov. 27 to construct a massive new tower in London's Canary Wharf, projecting a £10 billion boost to the U.K. economy over six years.

EU approves 30 pct space budget hike amid global race

European Union countries agreed on Nov. 27 to boost space spending by nearly 30 percent over the next three years, raising the budget to €22.1 billion to compete with the United States, China and private firms in the booming sector.

China says humanoid robot buzz carries bubble risk

Turkish firms to take part in $4B Damascus International Airport project

Economic confidence index hits highest level since March

Trade deficit widens 27.6 pct to $7.58 bln in October

Türkiye targets 120,000 MW in wind and solar by 2035: Minister

VC investments focus on fintech, gaming, robotics in third quarter

Single-digit inflation remains our target: Karahan

Central Bank Governor Fatih Karahan reiterated on Nov. 26 that the bank's ultimate goal is to bring inflation down to single digits, describing the fight against high prices as a long but necessary battle.

Thousands rally against 'shady' Bulgarian budget

Several thousand rallied in front of the Bulgarian parliament on Nov. 26 against a draft 2026 budget that protesters say is an attempt to mask widespread corruption.

Mexico central bank halves 2025 growth outlook

Mexico's central bank halved its 2025 growth forecast for Latin America's second-biggest economy to 0.3 percent, after an unexpected contraction in third-quarter activity.

IMF, Ukraine reach staff-level deal on arrangement worth over $8 bln

The IMF announced that it has reached a preliminary deal with Ukraine that could unlock more than $8 billion in new financing, as the country reels from more than three years of war.

EU vows 'flexibility' for embattled auto sector

The European Union's industry chief vowed on Nov. 26 to allow "flexibility" for the region's struggling auto sector, fueling hopes the bloc could soften a planned 2035 ban on combustion-engine vehicle sales.

Competition board fines Coca-Cola 282 mln liras

The Competition Board fined Coca-Cola approximately 282 million Turkish Liras ($6.6 mln) for obstructing and complicating an on-site inspection after detecting data deletion following the start of the probe.

Italian firms' interest in Türkiye set to grow

Italian firms' interest in Türkiye is growing and will continue to do so, according to the presidency's investment office, as bilateral relations advance across politics, trade and defense cooperation.

Istanbul opens doors to 11th World Halal Summit and Halal Expo

The World Halal Summit and Halal Expo opened on Nov. 26 in Istanbul, bringing together global sector participants under the theme “Strengthening Halal Industry via Innovation and Excellence.”

$6.5 bln worth of deals signed to bolster 'Steel Dome' air defense

Turkish defense industry firms signed contracts worth $6.5 billion to strengthen the integrated air defense system known as "Steel Dome," aimed at enhancing layered protection capabilities.

Japan launches DOGE-inspired office to cut budget waste

Japan launched its own version of the U.S. government's infamous cost-cutting Department of Government Efficiency (DOGE) on Nov. 25 in a bid to ease concerns over a $135-billion stimulus package.

3,000 cattle stuck at sea for a month reach dry land in Libya

Nearly 3,000 Uruguayan cattle that were stranded at sea for a month after their vessel was barred from Türkiye have been unloaded in Libya, Uruguay's government said.

HP to cut thousands of jobs due to AI adoption

Computer and printer maker HP announced a sweeping restructuring plan that will eliminate about 10 percent of its workforce globally as the company pivots toward artificial intelligence to boost efficiency.