Turkish economy

People walk past a Bitcoin sign at the entrance of a cryptocurrency exchange office on Nov. 8, 2024, in Istanbul, Turkey.

Watchdog urges Turkey to tighten digital asset rules for $144B crypto economy

A review of Turkey’s crypto-asset regulations by the Financial Stability Board acknowledged significant progress made by local authorities but called for further measures to address potential risks.

A steel worker works in front of giant iron melting pot in Kardemir Iron and Steel Factory in Karabuk, northwestern Turkey, Aug. 26 2005. (TARIK TINAZAY/AFP via Getty Images)

Steel factory explosion in western Turkey kills at least 16

Footage from the scene showed a huge plume of thick smoke spreading into the sky as flames engulfed a tall structure within the plant.

Turkish Navy sailors wave their caps from the flight deck

Explainer

After EU rebuff, how Turkey is courting Egypt for maritime deal

Turkey’s renewed push for a maritime deal with Egypt in a bid to ease Cairo’s objections to its maritime agreement with Libya, faces an uphill battle.

Turkish President Recep Tayyip Erdogan welcomes Canadian Prime Minister Mark Carney

Analysis

As US ties fray, Canada turns to Turkey for defense, nuclear cooperation

Canada and Turkey aim to expand bilateral trade from $3 billion to $5 billion within five years, targeting an eventual $10 billion.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Latest News

Turkey: Flash floods kill 3, paralyze Istanbul after record downpour

Abandoned cars piled up among debris and standing water following extremely heavy rainfall, Istanbul, Turkey, Oct. 15, 2026.

Analysis

Pragmatic politics: Why Turkey avoids blaming Russia for Black Sea attacks

A cargo ship at the Port of Trabzon, Turkey

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Erdogan aide named suspect in Turkey financial scandal

Turkey's Family Minister Fatma Betul Sayan Kaya speaks to media after arriving at the Ataturk International airport on March 12, 2017, in Istanbul.

Analysis

Turkey’s $20B fund crisis: Who profited, and who will pay?

Traders work at their desks on the floor of the Borsa Istanbul

In Bristol, reporting on regional business, climate change, AI, tech

A picture taken on May 1, 2019 shows a railroad of Mar Mikhael neighborhood in the Lebanese capital Beirut.

Lebanon seeks Turkey’s help to join Syria-Saudi rail link: What to know

Beirut is seeking Ankara’s support to link its ports to a railway project aiming to link Turkey to the Gulf, through Syria and Jordan.

Traders work at their desks on the floor of the Borsa Istanbul, Istanbul, Turkey, May 22, 2018.

Turkey widens $18B fund probe as fallout hits ruling party, free speech

More than 50 people have been detained in connection with the investigation into the fund scandal, the ruling party’s deputy chair has resigned, and the X accounts of dozens of journalists and economists have been blocked.

Turkish soldiers conduct military exercises near the Habur crossing gate between Turkey and Iraq on Sept. 27, 2017 in the Silopi district, southeast Turkey.

Analysis

Can Turkey’s Bashiqa withdrawal pave the way for deeper Iraq ties?

Ankara hopes the planned handover of its Bashiqa base will deepen security cooperation with Baghdad and unlock broader economic ties, but implementation hinges on restoring Iraqi state authority in Sinjar, where previous efforts to remove armed groups have stalled.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

OZAN KOSE/AFP via Getty Images

Explainer

Turkey’s $18B Ponzi-like scandal likened to Madoff as arrests mount

Turkey detained 14 more people Tuesday as authorities widened a probe into one of the country's largest investment-fund scandals.

TAI Hurjet

Analysis

With Hurjet test, Turkey seeks defense dominance beyond drones

With export revenue from the supersonic crewed aircraft, Ankara plans to fund next-generation projects and gain strategic diplomatic and military leverage across NATO and the region.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Minister of Foreign Affairs Hakan Fidan met with Abdul Hamid Dbeibah, Prime Minister of the Government of National Unity of Libya, in Tripoli on Aug. 11, 2026.

Turkey’s Fidan heads to Libya as US-backed unification push gathers pace

The Turkish foreign minister will hold talks in both Tripoli and Benghazi as Ankara seeks to preserve its military, maritime, energy and commercial interests while Washington pushes Libya’s rival camps toward a power-sharing arrangement.

a worker inspects an oil field in Iraq

Analysis

How Turkey is deepening energy and economic ties with Iraq as Iran weakens

Turkey and Iraq are accelerating energy, infrastructure and trade cooperation as the Hormuz crisis increases the strategic value of northern export routes.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkish President Recep Tayyip Erdogan greets Iraq Prime Minister Ali al-Zaidi upon his arrival in Ankara, July 28, 2026.

Explainer

Erdogan hosts Zaidi, touts ‘historic step’ in Turkey-Iraq energy ties

The Turkish president outlined Ankara’s priorities with the new Iraqi government during the Iraqi leader’s first visit to Turkey: security, energy cooperation and the Development Road.

Vendors sell dry food as people shop by a banner reading " No to Inflation" near the New Mosque area in Istanbul's Eminonu district on Nov. 6, 2018.

Analysis

Iran war puts Turkey’s inflation fight, lira under fresh pressure

A prolonged Iran war is leaving Turkey's economy management caught between maintaining painful monetary tightening and cutting rates before the economy is ready.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Canada's Prime Minister Mark Carney (R) is welcomed by Turkey's Treasury and Finance Minister Mehmet Simsek upon arrival at Esenboga Airport to attend the 36th NATO Heads of State and Government Summit in Ankara on July 7, 2026. (Photo by Muhammed Abdullah Kurtar / POOL / AFP via Getty Images)

Canada, Turkey launch free trade talks on NATO summit sidelines

Trade between the two countries stood at $4.3 billion in 2025, and officials from both countries will meet to lay the groundwork for the first FTA negotiations.

Syrian textile employees work in a textile workshop in Gaziantep, Turkey, on Jan. 30, 2025.

Explainer

Turkey eases job rules for 1M+ Syrians under temporary protection: What to know

The move, part of a broader easing of restrictions on Syrians living in Turkey, could allow roughly 1.1 million working-age Syrians to enter registered employment more easily as Ankara seeks to reduce informal labor and address workforce gaps.

https://www.al-monitor.com/originals/2026/06/will-pashinyans-victory-armenia-be-enough-unlock-peace-turkey-azerbaijan

Explainer

Venezuela’s Delcy Rodriguez meets Erdogan in surprise Turkey visit: What to know

Venezuelan acting President Delcy Rodriguez visited Turkey as part of Caracas' post-Maduro diplomatic outreach, seeking to deepen ties with Ankara in energy, trade and mining despite the continued constraints of remaining US sanctions.