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United States

Jonathan Spicer

Turkey's tumbling lira tests Erdogan's rate resolve

Aug 06 2020

ISTANBUL/LONDON Turkish central bank head Murat Uysal has stuck to the rate-cutting script since President Tayyip Erdogan hired him to lift Turkey out of a recession and currency crisis.

Turkey clamps down again after 'severe' jump in virus

Aug 04 2020

ISTANBUL Turkey rolled out new inspection and enforcement rules on Tuesday after coronavirus cases jumped above 1,000 for the first time in three weeks, in what the government called a grave rise during peak holiday season.

UPDATE 4-Turkish lira strain shows as London overnight rates soar

Aug 04 2020

ISTANBUL, Aug 4 Interest rates on overnight swaps for Turkey's lira hit 1,050% Tuesday, the highest in more than a year, in an offshore market that Turkish authorities have starved of liquidity as part of a costly effort to boost the currency.

Turkish bad loan plan raises concerns among some banks: sources

Jul 02 2020

ISTANBUL Some Turkish banks are concerned that a "bad bank" plan to house billions of dollars of non-performing loans could require them to book large losses, and they want foreign stakeholders involved, seven industry sources told Reuters.

Turkey's lonely tourist attractions face make-or-break week

Jun 22 2020

ISTANBUL/ANTALYA Turkey's Mediterranean coasts and historic attractions face a critical week as the government presses to open borders and salvage at least part of a tourist season already battered by the coronavirus pandemic. | Video

Erdogan says Turkey lost ground in coronavirus fight

Jun 20 2020

ISTANBUL President Tayyip Erdogan said on Saturday Turkey had lost some ground in its battle with the coronavirus but a focus on hygiene, masks and social distancing will protect people and help the economy rebound in the second half of the year.

Erdogan says Turkey lost ground in coronavirus fight

Jun 20 2020

ISTANBUL President Tayyip Erdogan said on Saturday Turkey had lost some ground in its battle with the coronavirus but a focus on hygiene, masks and social distancing will protect people and help the economy rebound in the second half of the year.

Turkish coronavirus slump could prompt private bank retreat

May 28 2020

ISTANBUL/LONDON Financial fallout from the coronavirus crisis could hasten mergers or retreats by some of Turkey's private and foreign-owned banks, ceding more ground to state-owned lenders, bankers and analysts say.

Turkish coronavirus slump could prompt private bank retreat

May 27 2020

ISTANBUL/LONDON Financial fallout from the coronavirus crisis could hasten mergers or retreats by some of Turkey's private and foreign-owned banks, ceding more ground to state-owned lenders, bankers and analysts say.

Exclusive: Turkey seeks global funding help to gird against lira shock

May 14 2020

ANKARA Turkey's government has appealed to foreign allies in an urgent search for funding, three senior Turkish officials said, as it prepares defences against what analysts fear could be a second currency crisis in as many years.

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