Istanbul Chamber of Commerce

Major business associations have welcomed the Central Bank's move to start the easing cycle by delivering a 250 basis points cut in its policy rate, calling on lenders to follow suit.

The bank slashed the one-week repo auction rate to 47.5 percent only two days after the minimum wage for millions of workers was hiked by 30 percent to a net of 22,104 Turkish Liras ($628) per month.

President-elect Donald Trump's upcoming policies could create a "window of opportunity" for Turkish companies, says Şekib Avdagiç, president of the Istanbul Chamber of Commerce (İTO).

Türkiye could become more competitive in products that are produced by countries that will be subject to high tariffs to be imposed by the second Trump administration, Avdagiç argued.

The anticipated return of millions of Syrians from Türkiye to their home country following the ouster of Bashar al-Assad is expected to influence rental prices across Türkiye, experts say.

The pace of monthly growth in retail prices in Istanbul accelerated from 1.73 percent in August to 3.9 percent in September, according to the Istanbul Chamber of Commerce (İTO) on Oct. 1.

The annual increase in retail prices in Türkiye's largest city was 59.18 percent, slowing from August's 61.57 percent.

Retail prices have risen 42.9 percent compared with the end of 2023.

President Recep Tayyip Erdoğan has voiced his "full confidence and support" for the medium-term program that was unveiled on Sept. 5.

The government will continue to work tirelessly to achieve the goals set out in the program to increase the welfare of citizens and to ensure the sustainability of our economy for our future generations, Erdoğan said.

Developers are waiting to see and analyze the direction loan rates will take in 2025 before launching new projects in the housing market, which has experienced a plunge in sales for months.

Currently, both consumer and construction companies are in the wait-and-see mode in an environment of high inflation and high interest rates.

Some 21,659 businesses have been fined a total of 47 million Turkish Liras ($1.44 million) for failing to comply with the regulation that mandates the visible display of price lists at the entrances and tables of restaurants, cafes and bakeries.

The government introduced the regulation at the start of 2024.

Despite an annual decline in revenues, the automotive industry once again topped the list of Türkiye's largest exporting sectors with shipments to foreign markets amounting to $2.6 billion in June.

The automotive sector's exports, which plunged 12.4 percent last month from a year ago, accounted for 14.1 percent of the country's export revenues.

Retail prices in Istanbul increased by 3.42 percent in June after rising 3.6 percent in the previous month, data from the Istanbul Chamber of Commerce (İTO) has shown.

The annual increase in retail prices also slowed from 82.2 percent in May to 82.1 percent last month.

Retail prices in Istanbul increased by 3.59 percent month-on-month in May, slowing from 4.5 percent in April, data from the Istanbul Chamber of Commerce (İTO) have shown.

The annual increase in retail prices in the country's largest city accelerated from 78.8 percent in April to 70.33 percent last month, while prices have risen 25.4 percent since the end of 2023.