According to data announced during the Turkish Startup Ecosystem Q3 2021 last month, Turkish startups have raised $150 million (TL 1.38 billion) through 69 investment deals in the 3rd quarter of the year. With this, the total investment amount in the first nine months was brought to $1.4 billion, raised through a total of 206 […]
The Turkish Central Bank cut its benchmark one-week repo rate by 100 basis points from 16% to 15%. Acting accordingly to market expectations, the committee “evaluated the analyses to decompose the impact of demand factors that monetary policy can have an effect, core inflation developments and supply shocks.” The bank says recent increases in inflation […]
IMF (The International Monetary Fund) has revised its GDP forecasts for countries in its latest World Economic Outlook October 2021 report. According to the new report, growth forecast for the Turkish economy has been revised up to %9 in 2021, up from %5,8 previously reported. With this, Turkey is the second top economy in terms […]
According to the statement released by the Central Bank of the Republic of Turkey (CBRT), the bank signed an agreement with defense and technology firms Aselsan and Havelsan, and the Scientific and Technological Research Council of Turkey (TUBITAK) for the research, development and testing processes of potential digital Turkish lira. In the statement, it is […]
According to Turkey’s Medium-Term Program (MTP) for 2022-2024 released by the government, Turkish economy is projected to expand 9% this year and grow a further 5% in 2022. The government is also aiming for growth of 5.5% in 2023 and 2024, according to the three-year program, while the average gross domestic product (GDP) growth rate […]
According to the data of the Turkish Statistical Institute (TurkStat), Turkey’s economy has shown a growth rate of 21.7% in the second quarter of 2021. With this growth, the country established its highest-ever expansion since 1999 and ranked 2nd in the world after the UK. GDP at current prices reached USD 188,566 million in the […]
In June 2021, 9 thousand 560 companies were established, and this number increased by 113.4% compared to the previous month in Turkey. According to the data published by the Turkish Union of Chambers and Commodity Exchanges (TOBB), the number of companies established increased by 113.4% compared to the previous month, and thus a total of […]
One of Turkey’s leading e-commerce platforms, HepsiBurada became the first Turkish company to be listed on the NASDAQ stock market in the US. With this IPO, HepsiBurada reached a valuation of $3.9 billion. The company, which was offered to the public with a pricing of $12 per share, increased its share prices by 12% from […]
Dream Games, Turkey’s leading mobile gaming company, becomes Turkey’s new unicorn by reaching a $1 billion valuation. Founded in 2019, Dream Games became Turkey’s fourth unicorn company after Peak Games, Trendyol, and Getir. The company received a $155 million investment in the Series B investment round. The investment round was co-led by Index Ventures and […]
According to the exports report published by the Turkish Ministry of Trade, Turkey’s export has been reached an all-time high $105 billion with the 40% of the rise in the first half of 2021. Also, exports in June increased by 47% compared to the same month of the previous year and reached $19.8 billion. It […]
