A street vendor stands next to his stall in Istanbul. Reuters
One in every eight Turkish lira is now generated by the nation’s travel and tourism sector. According to a recent report, the tourism sector contributed TL461.3 billion ($95.6 billion) to the country’s economy in 2018,
The Turkish economy shrank sharply year on year for the second straight quarter in early 2019, laying bare the impact of a punishing currency crisis and soaring inflation and interest rates against a tense political backdrop.
Turkish industrial production fell for the tenth consecutive month in June, data showed, offering few signs of a pick-up in economic growth as domestic demand remains weak after last year’s currency crisis.
Turkish borrowing costs have begun falling after the central bank slashed interest rates last week, but companies say more monetary stimulus and bank lending will be needed to kick-start the recession-hit economy after last year’s currency crisis.
According to a press statement released by the Central Bank on Tuesday, money supply aggregates, M2, increased by 2.2 per cent, from Dhs1,380.5 billion at the end of November 2019 to Dhs1,411.5 billion at the end of December 2019.
This is according to the latest Brand Finance Global 500 report launched at the World Economic Forum in Davos on Wednesday. All eyes will be on Etisalat as it prepares to excite the Expo’s expected 25 million visitors with a seamless 5G connectivity that brings the event’s themes to life
The European Travel Information and Authorisation System will apply to UAE nationals, along with nationals from 61 other countries including Australia, Canada, Japan, Singapore and the United States.