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The Latest Breaking News from Nureddin Nebati

Saudi Deposit Boosts Foreign Reserves of Türkiye's Central Bank

The Turkish Central Bank's net international reserves rose by $6 billion last week to $25 billion after a $5 billion deposit from Saudi Arabia entered its accounts. The central Bank's gross reserves rose $6.5 billion to $126.5 billion in the same period, Reuters quoted three bankers as saying. The Bank…

Asharq Al-Awsat

Turkey’s Turning Point

What will Erdogan do to stay in power?

Foreign Affairs

Saudi Arabia, Türkiye to Boost Investment, Trade Exchange

Saudi Arabia and Türkiye affirmed that a current opportunity is present for improving and accelerating joint activities, increasing investments, and raising the volume of trade exchange. The Kingdom has an incentive to improve and accelerate its joint activities with Türkiye in the post-pandemic period, said Saudi Investment Minister Khalid Al-Falih.…

Asharq Al-Awsat

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Saudi Crown Prince, Turkish Officials Discuss Means to Develop Relations

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, received in Jeddah on Saturday Turkish presidential spokesman Ibrahim Kalin and Turkish Treasury and Finance Minister Nureddin Nebati. Talks focused on bilateral relations between Saudi Arabia and Türkiye and ways to bolster them in various fields. They…

Asharq Al-Awsat

Saudi crown prince meets with Turkish officials - SPA

Saudi Arabia's Crown Prince Mohammed bin Salman met with Turkey's Finance Minister Nureddin Nebati and Ibrahim Kalin, Turkish President Tayyip Erdogan's spokesman and chief foreign policy adviser, in Jeddah on Saturday, Saudi state news agency SPA reported.

Reuters

Türkiye’s Economy Grows 7.6% in Q2 2022

Türkiye’s economy grew 7.6% year-on-year in Q2 2022 as expected, extending a hot streak on strong domestic demand and exports, according to new data on Wednesday. Gross domestic product (GDP) expanded 2.1% compared with the previous quarter on a seasonally and calendar-adjusted basis, Turkish Statistical Institute (TurkStat) data showed. A…

Asharq Al-Awsat

Türkiye Downplays US Sanctions Threat over Russia Ties

Türkiye’s Treasury and Finance Minister Nureddin Nebati told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns will follow if they do business with sanctioned Russians. Nebati’s Twitter comments represent Ankara’s first official response to a letter the US Treasury sent to Turkish…

Asharq Al-Awsat

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Turkey dismisses 'meaningless' concerns over U.S. sanctions warning

Turkey's Finance Minister on Friday dismissed as "meaningless" concerns among Turkish businesses over a U.S. Treasury warning that they risked being penalised if they maintained commercial ties with Russians under sanctions.

Reuters

Turkey Projects 7% Growth for Q1 2022

The Turkish economy's solid and balanced growth trend and the pioneering data point out that annual growth will be around seven percent in the first quarter of 2022, Treasury and Finance Minister Nureddin Nebati said Monday. Speaking at the General Assembly of the Banks Association of Turkey (TBB), Nebati said…

Asharq Al-Awsat

Turkish Finance Minister Says Rise in Energy Prices Accelerating Inflation

Turkish Finance Minister Nureddin Nebati said on Saturday the global rise in energy prices was accelerating inflation in the country, but Ankara would continue working to lower it, adding that the lira's recent decline was within "acceptable" levels. Inflation hit 54 percent in February and economists expect it to continue…

Asharq Al-Awsat

Optimistic Ankara Says Inflation Will Fall to 24% this Year

Turkish inflation will fall to around 24% by year-end and hit single digits by May of 2023, the finance minister said on Friday, painting a far rosier picture than that of economists who see it 10 percentage points higher. Nureddin Nebati said authorities were no longer intervening in markets to…

Asharq Al-Awsat

Turkey to See Inflation Rate Peaking at About 40% in 2022, Says Finance Minister

TFinance Minister Nureddin Nebati told economists he expects the inflation rate to peak at about 40 percent in the months ahead and not to surpass 50 percent this year, according to people who attended. According to Bloomberg, Nebati provided his most detailed outlook yet for consumer prices in 2022 during…

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