AI-generated summary
Minister of Treasury and Finance Mehmet Şimşek announced Türkiye's economic reforms, defense investments and the potential in technological fields such as artificial intelligence.
Highlights from the speech of Minister of Treasury and Finance Mehmet Şimşek are as follows:
Türkiye continues to implement reforms.
We have invested heavily in defence.
We will increase defense expenditures almost 9 times.
Defense expenditures and R&D side are worth over 100 billion dollars.
We aim to increase service trade because we are more competitive in this field.
We are at a relatively good point in terms of developing country indebtedness.
Our debt is low and we have fiscal space.
Artificial intelligence has a serious question mark and potential.
AI outlook — possibilities, not facts
Türkiye's defense expenditure budget will continue to increase as long as opportunities are provided.
Likely · Within months
Research and development investments in artificial intelligence will increase in the coming years.
Possible · Within years
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Istanbul 1st Commercial Court of First Instance rejected the request for a definite deadline in the concordat process carried out against Taban Gıda Dış Ticaret AŞ and Aras Demir, lifted the temporary deadline and measures, and ruled for the bankruptcy of the company. Bankruptcy was filed as of 1 October 2026 at 13.27 and was declared by the Istanbul 2nd Bankruptcy Directorate on 7 October 2026. Liquidation procedures will be carried out through file number 2026/17.

Gold prices rose to $4,132.66 per ounce due to the depreciation of the dollar and lower yields. Pepperstone research head Chris Weston stated that the short-term outlook is challenging and said that it needs to break above the $ 4,275 level. IMF President Kristalina Georgieva warned that there are risks in the global economy due to high energy prices, public debt and the rapid increase in artificial intelligence investments.

The EU aims to increase its revenues to avoid a new trade conflict with US President Donald Trump. The European Commission is considering imposing a more comprehensive corporate tax that would apply to all companies operating in the EU, rather than targeting large technology companies, the Financial Times reported, citing officials. Some capitals oppose a fully digital tax, and expanding the tax to cover almost all large companies could be the solution, an EU official said.
Copper prices rose up to 1.2 percent on the London Metal Exchange as markets reopened after China's one-week holiday. The strike at the Centinela mine in Chile and the US Federal Reserve's interest rate policy expectations also supported prices.