Foreign investors are flocking to Turkey's local debt markets, saying they are impressed by interest rate cuts and easing inflation and are hoping that a regional transformation could further boost their bets on the economy.

Turkey's central bank has made a noteworthy move by cutting its interest rate for the second time in a row. This decision comes in the wake of a more significant than anticipated slowdown in headline inflation in December.

Turkey has detained 11 people as part of an investigation into a fire that killed 79 people and injured dozens at a ski resort in the Bolu mountains, Justice Minister Yilmaz Tunc said on Wednesday. A deputy mayor of the northwestern Bolu province,

Officials in Turkey say that a fire has raged through a 12-story hotel at a popular ski resort in the northwestern part of the country during a school holiday, killing at least 76 people.

The fire, which broke out early on Tuesday, trapped many of the registered 238 guests inside, leaving 78 people dead and dozens of others injured.