Frontpage Slideshow | Copyright © 2006-2011 JoomlaWorks Ltd.

Brazil economy in recession after shrinking 1.9 percent

Friday, August 28, 2015 Finance
Brazil is back in recession after official figures announced Friday showed Latin America's largest economy contracted 1.9 percent in the second quarter of 2015. Official figures from the Brazilian Institute of Geography and Statistics, the IBGE, said the economy had shrunk by 1.9 percent between April and June, after…

Ukraine debt deal is key to economic development

Friday, August 28, 2015 Finance
 A debt restructuring deal struck late on Thursday between Ukraine and its creditors is key to the country's economic development as fighting in the country’s east continues to drain resources. The agreement will allow the Ukrainian government to write off 20 percent of its $18 billion debt to private lenders, of…

UK: GDP grows 2.6 percent in 2nd quarter year-on-year

Friday, August 28, 2015 Finance
 The U.K.’s GDP increased by 0.7 percent from the first quarter to the second quarter of 2015, and 2.6 percent from the second quarter in 2014, the Office of National Statistics reported on Friday. GDP was estimated to have increased by 3.0 percent in 2014, compared with 2013, the report said. The British economy has…

Oil prices see biggest daily gain since 2009

Friday, August 28, 2015 Finance
Oil prices jumped in early Friday morning trading, gaining more than 10 percent on higher U.S. GDP growth and Chinese stock market recovery. The price of the global benchmark Brent crude oil reached as high as $48.43 per barrel Friday morning, gaining 10.9 percent after having hit $43.65 a barrel the day before. The…

Turkey’s innovation champions compete in global markets

Friday, August 28, 2015 Finance
 There is a growing number of Turkish companies that can boast unique know-how, enabling them to compete in global markets. This shouldn’t surprise us, experts say. “Turkish culture has long been characterized by an inherent entrepreneurial nature, where necessity is undoubtedly the mother of invention and where…

RECENT STORIES

August 28, 2015

Brazil economy in recession after shrinking 1.9 percent

Brazil is back in recession after official figures announced Friday showed Latin America's largest economy contracted 1.9 percent in the second quarter of…
August 28, 2015

Ukraine debt deal is key to economic development

 A debt restructuring deal struck late on Thursday between Ukraine and its creditors is key to the country's economic development as fighting in the country’s…
August 28, 2015

UK: GDP grows 2.6 percent in 2nd quarter year-on-year

 The U.K.’s GDP increased by 0.7 percent from the first quarter to the second quarter of 2015, and 2.6 percent from the second quarter in 2014, the Office of…
August 28, 2015

Oil prices see biggest daily gain since 2009

Oil prices jumped in early Friday morning trading, gaining more than 10 percent on higher U.S. GDP growth and Chinese stock market recovery. The price of the…
August 28, 2015

Turkey’s innovation champions compete in global markets

 There is a growing number of Turkish companies that can boast unique know-how, enabling them to compete in global markets. This shouldn’t surprise us, experts…

Google fights back against EU antitrust charges

August 28, 2015 in Finance
 Google launched its fight back against European Commission antitrust charges late on Thursday, calling them "wrong as a matter of fact, law and economics.”…

Turkey: Turkcell to establish consumer finance arm

August 28, 2015 in Finance
Turkish mobile phone operator Turkcell said in a statement late on Thursday that it will establish a consumer finance arm. The new company will have a capital…

Investors target Turkey despite political uncertainty

August 28, 2015 in Finance
 Investors continue to target Turkey, despite political uncertainty, economists told Anadolu Agency on Thursday. "Turkey remains an attractive investment…

US economy sees robust growth in 2nd quarter

August 27, 2015 in Finance
The U.S. economy saw robust expansion in the second quarter, a report from the U.S. Commerce Department said Thursday. U.S. GDP expanded 3.7 percent from April…

September rate hike less likely in US, says NY Fed chief

August 27, 2015 in Finance
 A U.S. central bank rate hike in September appears less likely than before, the head of the the New York Federal Reserve said Wednesday. "From my perspective,…

Turkey: Three mobile operators win rights to '4.5G network'

August 26, 2015 in Finance
Turkey's existing three mobile operators, Turkcell, Vodafone and Avea have won rights to the "4.5G network", in the tender by the Information and Communication…

Turkey: Three mobile operators win rights to 4.5G network

August 26, 2015 in Finance
 Turkey's existing three mobile operators, Turkcell, Vodafone and Avea have won rights to the 4.5G network, in the tender by the Information and Communication…

Russia: Transaero faces challenges to stay airborn

August 26, 2015 in Finance
Russia’s second-largest airline "Transaero" is struggling with financial difficulties, as ruble depreciation makes payment for leasing arrangements…

Turkey: Manufacturing activity fell slightly in August

August 25, 2015 in Finance
Manufacturing confidence slipped to 103.7 in August from 105.4 in July. Manufacturing activity declined slightly in Turkey in August, as industry was less…

Stocks fall, but no danger of crisis, economists say

August 25, 2015 in Finance
Fears of global crisis that sparked a selloff on stock markets around the world are "misplaced”, economists said on Tuesday. "Although global equity indexes…

East Asia poised to lead global economic growth: banker

August 24, 2015 in Finance
East Asian nations are expected to lead in world economic expansion by maintaining relatively high growth rates in coming years compared to developed…

Greece: Opposition party abandons attempt to form gov't

August 24, 2015 in Finance
The conservative opposition party New Democracy leader, Evangelos Meimarakis, has abandoned attempts to form a new government. Meimarakis returned the mandate…

Turkey: House sales up 13.5 percent in July

August 24, 2015 in Finance
Homes sales in July were up 13.5 percent year-on-year, the Turkish Statistical Institute said in a statement on Monday. Housing sales have increased for seven…

Global stocks in rout on Asian crisis fears

August 24, 2015 in Finance
Stock markets around the globe are hitting record lows on Monday, as fears about a slowdown in China have investors pulling their money out of equities.…

Analyst: ASEAN currencies to further depreciate

August 23, 2015 in Finance
 The Malaysian ringgit and most other ASEAN currencies are expected to continue weakening against the dollar until year-end, thanks to the United…

Euro zone sets emergency summit on Greece as money flees

Euro zone sets emergency summit on Greece as money fleesEuro zone leaders will hold an emergency summit on June 22 to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.

Finance ministers of the 19-nation currency bloc failed to make any breakthrough on a cash-for-reforms agreement at talks in Luxembourg on June 18, just 12... Add a comment

Read more...

Greece, Russia sign memorandum on gas pipe to Greece

Greece, Russia sign memorandum on gas pipe to GreeceRussia and Greece on June 19 signed a preliminary agreement to set up a joint venture to build a pipeline through Greece, Moscow said.

“This is the start of a large investment project in Greece that is beneficial to the country’s economy,” Russian energy minister Alexander Novak said at the signing ceremony on the sidelines of the Saint Petersburg International Economic Forum, quoted... Add a comment

Read more...

Nearly 1M people became millionaires in 2014

Nearly 1M people became millionaires in 2014The number of people worth $1 million or more rose by 920,000 last year, hitting a record 14.6 million. It was the sixth straight year-on-year increase as rising stock prices lifted the value of personal wealth in a few key countries, according to a report from consultant Capgemini and RBC Wealth Management.

The wealth held by millionaires globally also rose to a record $56 trillion... Add a comment

Read more...

Saudi Tadawul's inclusion in MSCI won't affect Turkey

Saudi Tadawul's inclusion in MSCI won't affect TurkeyExperts agree that the entry of Saudi stock market Tadawul to MSCI EM index would have little effect on Turkish stocks.

The Turkish stock market will not be hurt if Saudi Arabia's stock exchange is included in Morgan Stanley Capital International's (MSCI) Emerging Market (EM) index, experts said Thursday.

MSCI is a stock market index used by many funds and investment vehicles... Add a comment

Read more...

Russian bank to lend $570 million for new Turkish airport

Russian bank to lend $570 million for new Turkish airportSberbank agrees to lend funds for Istanbul's new international airport.

The Turkish company building Istanbul's new international airport said on Thursday that it had signed a Memorandum of intention with Russia's largest bank Sberbank for its financing.

A fund of 500 million euros ($570 million) will be available to construction company IGA Havalimani Isletmesi A.S., via Turkey’s... Add a comment

Read more...

Greek default would hurt emerging markets, analysts say

Greek default would hurt emerging markets, analysts sayFailure to reach a bailout agreement for Greece on Thursday could create headwinds for developing economies, experts say.

Should Greece default, emerging market economies are expected to face severe headwinds, experts told Anadolu Agency on Thursday.

The Greek government and the Eurogroup meet on Thursday in what is expected to be a last chance to avoid Athens’ default on its loan... Add a comment

Read more...

Turkey spends $2 billion on R&D in 2014

Turkey spends $2 billion on R&D in 2014Total R&D spend, including private sector, increased 13.4 percent to 14.8 billion Turkish liras in 2013 year on year.

The Turkish government spent slightly less on research and development last year compared with the previous year, according to a report from the Turkish Statistical Institute on Thursday.

Allocation to R&D fell 3.73 percent to $2 billion, the report said.

The amount was... Add a comment

Read more...

Turkey debuts pommegranate-themed pavilion in Expo Milano

Expo MilanoProject represents 'diversity within unity' and fertility as response to world's future needs for safe and sufficient nutrition.

Turkey is promoting a pavilion that marries traditional values with modern design elements as the country’s showcase in Expo Milano 2015, where participators seek environmentally respectful answers to the question of how to guarantee healthy food for everyone in... Add a comment

Read more...

Room rental service Airbnb valued at $24 billion

Room rental service Airbnb valued at $24 billionNew round of funding shows tech company worth more than Marriott, Expedia.

Home-rental platform Airbnb is raising $1 billion in funding off an exorbitant valuation of $24 billion, according to investors speaking to The Wall Street Journal in a report published Wednesday.

This valuation would hurtle the San Francisco-based service to the top of the hospitality industry. The hotel chain... Add a comment

Read more...

US: Fed holds rates, hints at end-of-year hike

US: Fed holds rates, hints at end-of-year hikeFed says it will assess progress toward maximum employment and 2 percent inflation.

The U.S. Federal Reserve said in a statement on Wednesday that it would not raise interest rates at this time.

"The current 0 to 1/4 percent target range for the federal funds rate remains appropriate," the central bank said.

"In determining how long to maintain this target range, the Committee will assess... Add a comment

Read more...

Contact Us iPad Mobile Twitter Youtube Facebook RSS

Pikselsoft | İnteraktif İçerik Yönetimi, Portal, Mobil ve Yazılım Çözümleri