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Turkey's foreign trade volume up in June

Friday, July 29, 2016 Finance
ANKARA Turkey’s exports in June rose 8.1 percent, and its trade deficit widened by 5 percent, following rising imports, according to data from the Turkish Statistical Institute (TurkStat) on Friday.Rising imports saw the year-on-year increase push the deficit to $6.55 billion in June, up from $6.24 billion a year…

Leading Turkish businessman held in coup bid probe

Friday, July 29, 2016 Finance
By Tevfik IsikKAYSERI, Turkey The chairman of Boydak Holding, one of Turkey’s largest conglomerates, was arrested early Friday as part of the investigation into the July 15 coup attempt.Mustafa Boydak, 53, and two other senior executives were arrested in Kayseri province, central Anatolia, a security source said on…

Facebook now 5th most valuable company

Friday, July 29, 2016 Finance
Facebook became one of the top-5 most valuable companies in the world Thursday, topping $360 billion in value. After beating expectations with strong second quarter earnings the day before, the stock value of the social media giant climbed to its all-time level reaching as high as $128.33. That placed the company’s…

Emerging markets guru sees promise in Turkey

Friday, July 29, 2016 Finance
ANKARA A leading emerging markets expert has voiced optimism about Turkey’s prospects following the July 15 failed coup.In an interview with Bloomberg television Thursday, Mark Mobius, executive chairman of the Templeton Emerging Markets Group, said: "I personally think that we have to look [at] Turkey more closely.…

Waning investor appetite in Turkey unlikely: economists

Thursday, July 28, 2016 Finance
By Sibel AkbayAsset prices in Turkish markets, which were not reflective of the country’s annual 4.8 percent Gross Domestic Product growth in the week following the July 15 failed coup, have begun to harmonize as investor appetite picks up, an economist said Thursday.According to Bora Tamer Yilmaz, an economist for…

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July 29, 2016

Turkey's foreign trade volume up in June

ANKARA Turkey’s exports in June rose 8.1 percent, and its trade deficit widened by 5 percent, following rising imports, according to data from the Turkish…
July 29, 2016

Leading Turkish businessman held in coup bid probe

By Tevfik IsikKAYSERI, Turkey The chairman of Boydak Holding, one of Turkey’s largest conglomerates, was arrested early Friday as part of the investigation…
July 29, 2016

Facebook now 5th most valuable company

Facebook became one of the top-5 most valuable companies in the world Thursday, topping $360 billion in value. After beating expectations with strong second…
July 29, 2016

Emerging markets guru sees promise in Turkey

ANKARA A leading emerging markets expert has voiced optimism about Turkey’s prospects following the July 15 failed coup.In an interview with Bloomberg…
July 28, 2016

Waning investor appetite in Turkey unlikely: economists

By Sibel AkbayAsset prices in Turkish markets, which were not reflective of the country’s annual 4.8 percent Gross Domestic Product growth in the week…

Pakistan-Turkey free trade deal talks make progress

July 28, 2016 in Finance
ANKARA The third round of the Pakistan-Turkey free trade agreement negotiations has been concluded in Ankara, with both sides expressing satisfaction with the…

International bosses confident of Turkish economy

July 28, 2016 in Finance
By Fatih Erkan DoganANKARA Several senior figures from Turkish business on Thursday endorsed the country’s economic outlook following the July 15 coup…

European Commission to give financial aid to TANAP

July 28, 2016 in Finance
The European Commission will provide financial assistance to the Trans Anatolian Pipeline project (TANAP) company for its study and design of commercial…

Full-page ad to reassure financial world about Turkey

July 28, 2016 in Finance
By Tuba Sahin and Bahattin GonultasANKARA One of Turkey’s biggest companies is to place an advert celebrating the country’s commitment to democracy in several…

Deutsche Bank in headlines after share, profit plunges

July 28, 2016 in Finance
ANKARA Germany’s Deutsche Bank made headlines Wednesday after it announced its profits had plunged in the second quarter of the year following a record loss…

Malaysian firm secures deal for TANAP's sub-sea works

July 28, 2016 in Finance
ANKARAMalaysian energy company SapuraKencana has been awarded the engineering works for the construction and procurement of the sub-sea section of the Trans…

Fed keeps interest rates unchanged

July 28, 2016 in Finance
NEW YORK The Federal Reserve kept its benchmark interest rate unchanged Wednesday after concluding its two-day July meeting, the Federal Open Market Committee…

Muslim scholars slam western stance on Turkey coup bid

July 28, 2016 in Finance
By Tasneem al-NekheliThe secretary-general of the Qatar-based International Union of Muslim Scholars (IUMS) has decried western policy vis-à-vis the situation…

Twitter stock nosedives after mediocre earnings report

July 28, 2016 in Finance
By Barry EitelShares of Twitter plummeted 13 percent Wednesday after the company released a lackluster quarterly earnings report the day before, which exposed…

Turkey: Foreign investment in May reaches $831M

July 27, 2016 in Finance
ANKARA Turkey received $831 million in foreign direct investment (FDI) in May, the Turkish Economy Ministry said in a statement Tuesday.Foreign investment in…

Ties with Russia, Israel key in region: Energy minister

July 27, 2016 in Finance
ANKARA Economic and energy bilateral cooperation between Turkey and Russia will be reviewed for the normalization of relations, along with the incident of the…

Consultancies critical of 'rushed' S&P Turkey downgrade

July 27, 2016 in Finance
By Muhammed Ali GurtasANKARAHeads of the Turkish operations of Deloitte and KPMG have criticized Standard&Poor's (S&P) recent rating cut, claiming the decision…

Siemens, Statkraft confirm support in Turkey's economy

July 26, 2016 in Finance
By Gulsen CagatayANKARASiemens will continue operations in its various operational sectors in Turkey including energy, Siemens Turkey's chairman said Tuesday…

Azerbaijan voices support for Turkey after failed coup

July 26, 2016 in Finance
By Gokhan YildizISTANBUL Azerbaijan on Tuesday voiced support for its "solid" business partner Turkey in the aftermath of the deadly July 15 coup attempt. "The…

Turkish CB: Economy to continue moderate, stable growth

July 26, 2016 in Finance
By Bahattin GonultasANKARA Turkey’s Central Bank governor said Tuesday that the nation’s economic activity continues to display a moderate, stable course of…

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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