Belarus is in the top three spots popular with Russian holidaymakers, according to Yandex.Money, which analyzed the countries the Russians headed to for their breaks this summer.
Turkey’s unemployment rate eased to 10.2% in May from 10.5% in April.
Turkey’s central government budget produced a surplus of TRY926mn (€223mn)in July, up from the TRY129mn surplus recorded a year earlier.
Turkey’s current account deficit declined by 24% y/y to $3.76mn in June, beating expectations as exports moved up 3% and imports declined 2%.
Simultaneous parliamentary and presidential polls will not be brought forward from end of 2019 says party, described by Erdogan as “fatigued”.
Turkey’s leading brewer Anadolu Efes announces initial agreement with world’s largest brewer AB InBev for 50:50 merger of Russia and Ukraine businesses, new enterprise to take on beer markets suffering longstanding decline.
Demanding cheaper loans to stimulate the economy, president asks how lenders' profits can rise 40% when GDP only expands 2.9%.
Figures obtained by local daily Zeri show Turkish consortium Calik-Limak recovered its investment just one year after buying majority stake in KEDS, in revelations likely to embarrass PDK as it tries to form new government.
Turkey’s calendar-adjusted industrial production index moved up 3.4% y/y in June to very slightly trail May's 3.5% y/y.
Ankara’s pledges to Beijing come as Turkey looks to position itself to gain from the massive One Belt, One Road initiative, but may disappoint EU leaders wary of slide to authoritarian rule.
Turkey's annual inflation softens to 9.79% in July from 10.9% in June, but core inflation strengthened by 0.4pp to 9.6%.
Strong sales to Russia and good automotive figures help drive up Turkey’s exports by a sharp 31.2% y/y to $11.5bn in July.
Huge influx of Russians drive improvement in Turkey's tourism industry following Ankara and Moscow's rapprochement, but rate for visiting Europeans is flat.
The region's steepest gap - of $727bn - is in Russia where inadequate infrastructure spending in recent decades has hindered economic growth.
Turkish banks’ combined net income rose by a substantial 33% y/y to reach TRY25.35bn (€6.1bn) in H1 as the lenders proved resilient amid a less than sure economy.
Turkey’s tourism revenues increased by 8.7% y/y to $5.41bn in the second quarter of the year as foreign tourists, especially Russian visitors, have started to return to the country to spend their holiday.
Driven by soft imports, Turkey’s foreign trade deficit declined by 9.1% y/y to $6.01bn in June.
July’s figure of 103.4 is the best figure seen since November 2013 and comes after the index fell back into negative territory in June.
As anticipated, Turkey’s central bank, amid its battle against double-digit inflation, on July 27 kept its one-week repo (8%), overnight lending (9.25%) and borrowing (7.25%) rates on hold.
Poland and Turkey’s stock markets are soaring, up 38% and 35% respectively, making them the best performing markets in the MSCI EM universe. But Russia is in its traditional place of worst performing market YTD, down 15%.