The Turkish Statistical Institute has announced that its third-quarter GDP figures depict a growth rate of 11.1 percent year-on-year. This makes it the fastest-growing country in the G20 by a considerable margin, with China trailing behind with 6.8 percent growth. The double-digit figure marks a substantial leap from rates seen over the past year, with year-on-year growth coming in at around five percent for the first two quarters of 2017. Notably, it reflects a recovery from the contraction of 1.8 percent that was announced this time last year.

Turkish-American Prof. Dr. Asu Özdağlar has been named the new head of the Department of Electrical Engineering and Computer Science (EECS) at the Massachusetts Institute of Technology (MIT). Özdağlar has served as the interim head of the department since July 1 after former head Acanthi Chandraksan was named dean of the School of Engineering. Özdağlar is best known for her contributions to the areas of optimization theory, economic and social networked systems, and game theory.

By Brendan Pierson - NEW YORK (Reuters) - A Turkish-Iranian gold trader described in a U.S. court on Wednesday how he ran a sprawling international money laundering scheme aimed at helping Iran get around U.S. sanctions and spend its oil and gas revenues abroad. Reza Zarrab, who has pleaded guilty and is cooperating with U.S. prosecutors in the criminal trial of a Turkish bank executive, told jurors in federal court in Manhattan that he helped Iran use funds deposited in Turkey's state-owned Halkbank to buy gold, which was smuggled to Dubai and sold for cash. The testimony, given through Turkish interpreters, came on the second day of the trial of Halkbank executive Mehmet Hakan Atilla, who has pleaded not guilty.

Chobani, the company that helped kick-start the Greek yogurt craze, is shrinking those words on its label as it may expand beyond that food in an increasingly crowded yogurt market. The new look, which will show up in supermarkets this week, removes "Greek Yogurt" from underneath the Chobani name. The yogurt inside will stay the same. Its packaging will be more muted than the current bright white, use a new font and style, and feature watercolor paintings of fruits rather than photographs of strawberries and peaches.