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Amid falling oil prices, Nigeria budgets $23.8bn for 2015

Saturday, December 20, 2014 Africa
Nigerian Finance Minister Ngozi Okonjo-Iweala on Wednesday unveiled before parliament a budget estimate of 4.3 trillion Nigerian naira (roughly $23.8 billion) for 2015 – nearly 400 billion naira short of the previous budget, reflecting the biting effects of the current drop in international crude oil prices. Details…

Turkish Petroleum Corporation to get $1.2 billion loan

Saturday, December 20, 2014 Expert Advice
Petroleum Pipeline Corporation will receive $1.2 billion from Turkey's central bank to meet its payments by the end of the year, Turkish Energy Minister Taner Yildiz said Wednesday. Petroleum Pipeline Corporation will make all payments with the grant, Yildiz said during a press conference in Ankara. "Russia is one of…

European Parliament approves EU 2015 Budget

Saturday, December 20, 2014 Europe
The European Parliament on Wednesday approved the EU Budget for 2015, as presented by the European Commission. The budget was backed by 443 votes, with 250 voting against, and with 7 abstentions. The €315 billion ($392.2 billion) investment plan presented by EU Commission chief Jean-Claude Juncker and his commission…

Low oil prices ease external pressures on Turkey: Fitch

Saturday, December 20, 2014 Enterprise
 The fall in oil prices will reduce external pressures onTurkey and India because it will hold down headline inflation, said International credit ratings agency Fitch on Tuesday. "Lower oil prices will increase the pressure on developing countries’ credit rating. The prices will benefit consumption in developed…

Iran starts to export petrochemicals again

Saturday, December 20, 2014 Middle East
Iran prepares to resume exports of petrochemical products to Europe which were banned by U.S.-led sanctions in recent years, according to Shana, the Iran oil ministry’s news service on Monday. The Middle Eastern country will make a shipment of a consignment of linear low-density polyethylene to Belgium in week…

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December 20, 2014

Amid falling oil prices, Nigeria budgets $23.8bn for 2015

Nigerian Finance Minister Ngozi Okonjo-Iweala on Wednesday unveiled before parliament a budget estimate of 4.3 trillion Nigerian naira (roughly $23.8 billion)…
December 20, 2014

Turkish Petroleum Corporation to get $1.2 billion loan

Petroleum Pipeline Corporation will receive $1.2 billion from Turkey's central bank to meet its payments by the end of the year, Turkish Energy Minister Taner…
December 20, 2014

European Parliament approves EU 2015 Budget

The European Parliament on Wednesday approved the EU Budget for 2015, as presented by the European Commission. The budget was backed by 443 votes, with 250…
December 20, 2014

Low oil prices ease external pressures on Turkey: Fitch

 The fall in oil prices will reduce external pressures onTurkey and India because it will hold down headline inflation, said International credit ratings…
December 20, 2014

Iran starts to export petrochemicals again

Iran prepares to resume exports of petrochemical products to Europe which were banned by U.S.-led sanctions in recent years, according to Shana, the Iran oil…

Turkish Airlines eyes UK expansion

December 19, 2014 in Enterprise
Turkish Airlines is to add four extra flights a week to Istanbul from Manchester Airport in the U.K. as a result of “greater demand for international travel…

Russia passes the buck to Turkey: Energy Charter head

December 19, 2014 in Expert Advice
The proposed 'Turkish Stream' is a way for Russia to sell its gas to Europe without being subject to EU rules asTurkey is not an EU member, according to…

Japan must make 'Abenomics' work

December 19, 2014 in Expert Advice
 Japanese Prime Minister Shinzo Abe led his party to a major, if expected, election victory on Sunday but now the creator of ‘Abenomics’ must put his economic…

Ancient holy road to now serve tourism

December 19, 2014 in Tourism
A 2,600-year-old ancient road located between the ancient city of Milet and the Temple of Apollo that was used to meet oracles during the Hellenistic era has…

Oil prices determined by financial markets

December 19, 2014 in Finance
Oil prices are determined by financial markets rather than the supply and demand equilibrium, experts said Tuesday. “The world’s daily oil production is 94.21…

Skepticism as Zimbabwe introduces local coins

December 18, 2014 in Money
Many Zimbabweans have voiced skepticism over the introduction of locally-minted coins – pegged to the U.S. dollar – raising fears that the southern African…

Drop in oil prices big advantage for Turkey: minister

December 18, 2014 in Expert Advice
Declining oil prices will have significant positive effects on Turkey’s current account deficit and inflation next year, Economy Minister Nihat Zeybekci said…

Turkish lira hits historic low against dollar

December 18, 2014 in Money
The Turkish lira dropped in value against the dollar on Tuesday, hitting a historic low of 2.40 per dollar. The move lower is on expectations that the Fed is…

Brent oil price falls below $60, lowest since July 2009

December 18, 2014 in Energy
 Oil prices took a sudden slump on Tuesday, reaching new record-low points in the last five years. The global benchmark Brent crude oil price dipped below $60…

Turkey’s Emlak Konut REIC aims $3 billion turnover in 2015

December 18, 2014 in Real Estate
Murat Kurum, General Manager of Emlak Konut REIC, the largest real estate investment company in Turkey, said that they expect the reach 10,000 units sales…

Energy Awards distributed in Ankara

December 17, 2014 in Energy
The International Energy and Environment Fair and Conference presented its energy awards at a ceremony which was attended by Turkish Minister of Energy and…

Shell, Turkish Petroleum to explore Black Sea in 2015

December 17, 2014 in Energy
Shell UpstreamTurkey and Turkish Petroleum will conduct oil-and-gas explorations in the Western Black Sea in 2015, a research report has revealed. According to…

Turkish markets stumble as Russian ruble slips

December 17, 2014 in Money
As markets braced for first rate hikes from the U.S. Fed, the negative sentiment from the sharp decline in Russian Ruble pushed the value of Turkish lira…

“Highest increase year-on-year in housing prices was in Istanbul”

December 17, 2014 in Real Estate
According to the Reidin-GYODER New House Price index November 2014, highest increase in housing prices was in Istanbul, compared to the last year. The Turkish…

Turkish energy giant opens $3 bln. refinery facility

December 17, 2014 in Energy
Turkish Petroleum Refineries Corporation, known as TUPRAS, opened its $3 billion fuel-oil recycling facility in Izmit refinery on Monday. The facility, which…

Amid falling oil prices, Nigeria budgets $23.8bn for 2015

Amid falling oil prices, Nigeria budgets $23.8bn for 2015Nigerian Finance Minister Ngozi Okonjo-Iweala on Wednesday unveiled before parliament a budget estimate of 4.3 trillion Nigerian naira (roughly $23.8 billion) for 2015 – nearly 400 billion naira short of the previous budget, reflecting the biting effects of the current drop in international crude oil prices.

Details of the budget, as laid out in a Medium Term Expenditure Framework and... Add a comment

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Turkish Petroleum Corporation to get $1.2 billion loan

Turkish Petroleum Corporation to get $1.2 billion loanPetroleum Pipeline Corporation will receive $1.2 billion from Turkey's central bank to meet its payments by the end of the year, Turkish Energy Minister Taner Yildiz said Wednesday. 

Petroleum Pipeline Corporation will make all payments with the grant, Yildiz said during a press conference in Ankara. 

"Russia is one of the countries that the corporation will make payments to, but it is... Add a comment

Read more...

European Parliament approves EU 2015 Budget

European Parliament approves EU 2015 BudgetThe European Parliament on Wednesday approved the EU Budget for 2015, as presented by the European Commission.

The budget was backed by 443 votes, with 250 voting against, and with 7 abstentions.

The €315 billion ($392.2 billion) investment plan presented by EU Commission chief Jean-Claude Juncker and his commission has been widely criticized, as only €21 billion ($26.1 billion) will... Add a comment

Read more...

Low oil prices ease external pressures on Turkey: Fitch

Low oil prices ease external pressures on Turkey: Fitch The fall in  oil prices will reduce external pressures onTurkey and India because it will hold down headline inflation, said International credit ratings agency Fitch on Tuesday.

"Lower oil prices will increase the pressure on developing countries’ credit rating. The prices will benefit consumption in developed markets, hold down headline inflation and ease external pressures in large... Add a comment

Read more...

Iran starts to export petrochemicals again

Iran starts to export petrochemicals againIran prepares to resume exports of petrochemical products to Europe which were banned by U.S.-led sanctions in recent years, according to Shana, the Iran oil ministry’s news service on Monday.

The Middle Eastern country will make a shipment of a consignment of linear low-density polyethylene to Belgium in week commencing Dec 22. The transfer, which measures 2,000 tons with a value of over... Add a comment

Read more...

Turkish Airlines eyes UK expansion

Turkish Airlines eyes UK expansionTurkish Airlines is to add four extra flights a week to Istanbul from Manchester Airport in the U.K. as a result of “greater demand for international travel and growth in passenger numbers,” the national air carrier has revealed.

The four extra flights, from what is the U.K.’s third-biggest airport in terms of passenger numbers, will be available from 25 May 2015, followed by an extra... Add a comment

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Russia passes the buck to Turkey: Energy Charter head

Russia passes the buck to Turkey: Energy Charter headThe proposed 'Turkish Stream' is a way for Russia to sell its gas to Europe without being subject to  EU rules asTurkey is not an EU member, according to secretary general of the Energy Charter on Tuesday.

Secretary Urban Rusnak speaking to The Anadolu Agency commented on Russia's new gas pipeline project via Turkey into Greece which replaces the point of entry from Bulgaria to Turkey in... Add a comment

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Japan must make 'Abenomics' work

Japan must make 'Abenomics' work Japanese Prime Minister Shinzo Abe led his party to a major, if expected, election victory on Sunday but now the creator of ‘Abenomics’ must put his economic policies into effect.

Sunday’s win, which saw Abe’s Liberal Democratic Party and its Komeito coalition partner secure a two-thirds majority, was perhaps the least of the hurdles that Abe has to overcome if he is to make his... Add a comment

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Ancient holy road to now serve tourism

Ancient holy road to now serve tourismA 2,600-year-old ancient road located between the ancient city of Milet and the Temple of Apollo that was used to meet oracles during the Hellenistic era has been restored and reorganized as a walking trail. 

Aydın Culture and Tourism Director Nuri Aktakka said works had been continuing since 2009 on the 25-kilometer, sixth-century road in Didim and that its route had been identified... Add a comment

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Oil prices determined by financial markets

Oil prices determined by financial marketsOil prices are determined by financial markets rather than the supply and demand equilibrium, experts said Tuesday.

“The world’s daily oil production is 94.21 million barrels. While in October 1.43 billion barrel bonds have been traded daily in the London and New York stock exchange markets,” Sohbet Karbuz, director of Hydrocarbons division in the Mediterranean Observatory for Energy... Add a comment

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