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Turkish trade gap narrows less than expected on Iraqi tumult

Friday, July 25, 2014 Stock Markets
Turkey’s foreign trade deficit continued to contract in June, albeit at a slower-than-expected pace, due to a massive blow to Iraqi exports after an Islamic militant offensive. According to figures announced by the Turkish Statistical Institute (TÜİK), the country’s trade deficit narrowed by 8.8 percent to $7.85…

Turkey's foreign trade deficit shrinks 6 times in a row

Friday, July 25, 2014 Stock Markets
For the sixth consecutive month, the Turkish foreign trade deficit fell, official data shows. Turkey's foreign trade deficit fell for the sixth month in a row, figures from Turkish Statistical Institute released Friday show. June's deficit dropped to $7.8 billion in June of this year from $8.6 billion in the same…

Housing sector waits for interest cut

Friday, July 25, 2014 Real Estate
Turkish housing sector that is thought to have 1-million housing stock, waits for new interest rate cuts by Central Bank. House sales with mortgage, which had reduced due to interest hike of Central Bank in January, has started to increase. However, after interest cuts of Central Bank housing market has been boosted.…

Turkish Central Bank: Inflation at 7.6% for 2014

Friday, July 25, 2014 Finance
Turkey's Central Bank estimates inflation in 2014 will be between 6.7 and 8.5 percent. Turkey's Central Bank on Thursday has kept its inflation forecast in 2014 to a mid-point of 7.6 percent, and the 2015 inflation forecast at the mid-point of 5 percent. At a news conference announcing the bank's quarterly inflation…

Turkey's sectoral confidence indexes send mixed signals

Friday, July 25, 2014 Finance
Confidence Index for retail trade sector rose while service and construction sectors fell In July. Retail trade sector confidence index in July rose suggesting optimism among retail trade investors while the service and construction sectors fell, Turkey's statistical authority said on Thursday. Sectoral confidence…

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July 25, 2014

Turkish trade gap narrows less than expected on Iraqi tumult

Turkey’s foreign trade deficit continued to contract in June, albeit at a slower-than-expected pace, due to a massive blow to Iraqi exports after an Islamic…
July 25, 2014

Turkey's foreign trade deficit shrinks 6 times in a row

For the sixth consecutive month, the Turkish foreign trade deficit fell, official data shows. Turkey's foreign trade deficit fell for the sixth month in a row,…
July 25, 2014

Housing sector waits for interest cut

Turkish housing sector that is thought to have 1-million housing stock, waits for new interest rate cuts by Central Bank. House sales with mortgage, which had…
July 25, 2014

Turkish Central Bank: Inflation at 7.6% for 2014

Turkey's Central Bank estimates inflation in 2014 will be between 6.7 and 8.5 percent. Turkey's Central Bank on Thursday has kept its inflation forecast in…
July 25, 2014

Turkey's sectoral confidence indexes send mixed signals

Confidence Index for retail trade sector rose while service and construction sectors fell In July. Retail trade sector confidence index in July rose suggesting…

172 houses were sold per day in Turkey East Marmara region

July 24, 2014 in Real Estate
In the first half of the year, 172 houses were sold per day in East Marmara region, which comprises Kocaeli, Sakarya, Düzce, Bolu and Yalova provinces.…

‘Transfer Best’ offers affordable luxury chauffeur transportation services for everyone

July 24, 2014 in Automotive
Engin Beyazgül, General Manager of luxury chauffeur transportation services company Transfer Best that has developed very rapidly, even though it is a newly…

Small firms can battle Turkey's 'vicious' deficit

July 24, 2014 in Stock Markets
Small size enterprises should be improved to tackle current account deficit, says new report. A prominent Turkish investment body has called for improving…

Turkey confident of four percent growth

July 24, 2014 in Finance
The European recovery has boosted Turkish exports and helped keep growth on target. Turkey's growth is estimated to be four percent by the end of the year, in…

World Bank launches Islam-compatible finance

July 24, 2014 in Finance
World Bank will provide finance for small and medium sized companies in Turkey through its Innovative Access to Finance Project. The World Bank is to provide a…

Saudi to open $530bn bourse to foreigners

July 23, 2014 in Stock Markets
Saudi Arabia plans to open its stock market, the Arab world's biggest, to direct investment by foreign financial institutions in the first half of next year,…

House sales increases 3 percent in June, in Turkey

July 23, 2014 in Real Estate
In June 2014, the number of house sales increased by 3 percent, and total 92 thousand 936 houses were sold in Turkey. For the house sales of June 2014,…

Turkish exports to Iraq fall 35 percent, but minister preserves optimism

July 23, 2014 in Middle East
Turkey’s exports to Iraq have plummeted by 35 percent since the Islamic State of Iraq and the Levant (ISIL) seized control of Mosul, Economy Minister Nihat…

Turkey's wind energy capacity soars in first half

July 23, 2014 in Energy
87 wind plants have become operational in the country; 39 more are under construction. Turkey's wind energy capacity has posted a 466 megawatt (MW) increase…

‘Second Top 500’ Turkish companies’ profits plunge due rising debt

July 23, 2014 in Finance
Turkey’s second top 500 industrial companies, which rank among the country’s largest 501 to 1,000 firms, have suffered from growing debt and low profitability…

Kuveyt Türk has been the sector leader in housing finance

July 22, 2014 in Real Estate
According to the official data of June, Kuveyt Türk is ranked as the first in the sector with its housing finance growth rate. Kuveyt Türk is also ranked as…

SOCAR and Goldman Sachs reach preliminary agreement on share sale

July 22, 2014 in Enterprise
U.S. multinational investment banking company Goldman Sachs has become a partner in Turkey’s largest integrated port, operated by petrochemicals maker Petkim,…

Türk Telekom profit second quarter profit jumps 186 percent on strengthening lira

July 22, 2014 in Enterprise
Turkey’s largest telecom company Türk Telekom has almost doubled its net profit in the second quarter with a remarkable rise in financing income, stemmed from…

Zeugma: Ancient city in Turkey bridging east and west

July 22, 2014 in Culture & Art
Officials trying to gain return of looted artifacts now on display in the U.S. The Zeugma excavation site in the southern Turkish city of Gaziantep should be…

Chinese Yuan to be world's third currency by 2020

July 22, 2014 in Finance
The Yuan will be the world's third largest currency after the U.S. dollar and euro, a Chinese report predicts. The Chinese yuan will become the world's third…

Turkish trade gap narrows less than expected on Iraqi tumult

Turkish trade gap narrows less than expected on Iraqi tumultTurkey’s foreign trade deficit continued to contract in June, albeit at a slower-than-expected pace, due to a massive blow to Iraqi exports after an Islamic militant offensive.

According to figures announced by the Turkish Statistical Institute (TÜİK), the country’s trade deficit narrowed by 8.8 percent to $7.85 billion, but failed to meet market expectations that were hovering around... Add a comment

Read more...

Turkey's foreign trade deficit shrinks 6 times in a row

Turkey's foreign trade deficit shrinks 6 times in a rowFor the sixth consecutive month, the Turkish foreign trade deficit fell, official data shows.

Turkey's foreign trade deficit fell for the sixth month in a row, figures from Turkish Statistical Institute released Friday show.

June's deficit dropped to $7.8 billion in June of this year from $8.6 billion in the same month last year, a fall of 8.8 percent, the Turkish Statistical Institute... Add a comment

Read more...

Housing sector waits for interest cut

Housing sector waits for interest cutTurkish housing sector that is thought to have 1-million housing stock, waits for new interest rate cuts by Central Bank. 

House sales with mortgage, which had reduced due to interest hike of Central Bank in January, has started to increase. However, after interest cuts of Central Bank housing market has been boosted. Sector waits for new interest cuts from Central Bank. 

Central Bank cut... Add a comment

Read more...

Turkish Central Bank: Inflation at 7.6% for 2014

Turkish Central Bank: Inflation at 7.6% for 2014Turkey's Central Bank estimates inflation in 2014 will be between 6.7 and 8.5 percent.

Turkey's Central Bank on Thursday has kept its inflation forecast in 2014 to a mid-point of 7.6 percent, and the 2015 inflation forecast at the mid-point of 5 percent.

At a news conference announcing the bank's quarterly inflation report in the capital Ankara, the bank governer Erdem Basci said "Inflation... Add a comment

Read more...

Turkey's sectoral confidence indexes send mixed signals

Turkey's sectoral confidence indexes send mixed signalsConfidence Index for retail trade sector rose while service and construction sectors fell In July.

Retail trade sector confidence index in July rose suggesting optimism among retail trade investors while the service and construction sectors fell, Turkey's statistical authority said on Thursday.

Sectoral confidence indexes show managers' perception on the economic climate to determine if... Add a comment

Read more...

172 houses were sold per day in Turkey East Marmara region

172 houses were sold per day in Turkey East Marmara region In the first half of the year, 172 houses were sold per day in East Marmara region, which comprises Kocaeli, Sakarya, Düzce, Bolu and Yalova provinces. 

According to the information that was given by Kocaeli Regional Directorate of Turkish Statistical Institute (TurkStat), the number of sold houses reached to 30 thousand 939, in the region. Accordingly, 172 houses were sold per day, and 7... Add a comment

Read more...

‘Transfer Best’ offers affordable luxury chauffeur transportation services for everyone

‘Transfer Best’ offers affordable luxury chauffeur transportation services for everyoneEngin Beyazgül, General Manager of luxury chauffeur transportation services company Transfer Best that has developed very rapidly, even though it is a newly established company, said that they are going to increase the number of vehicles in their fleets by 300 percent.

Transfer Best, established in Istanbul, that offers VIP transfer, chauffeur-driven car rental, day city tour, airport... Add a comment

Read more...

Small firms can battle Turkey's 'vicious' deficit

Small firms can battle Turkey's 'vicious' deficitSmall size enterprises should be improved to tackle current account deficit, says new report.

A prominent Turkish investment body has called for improving small and medium size enterprises to battle against the "vicious circle" of Turkey's long-standing current account deficit.

A new report from the Independent Industrialists and Businessmen Association, MUSIAD, released in Istanbul on... Add a comment

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Turkey confident of four percent growth

Turkey confident of four percent growthThe European recovery has boosted Turkish exports and helped keep growth on target.

Turkey's growth is estimated to be four percent by the end of the year, in line with medium-term targets, Deputy Prime Minister Ali Babacan has said.

During a TV interview on Wednesday, Babacan said foreign demand was the most important element affecting growth.

"The measures we took gave results earlier... Add a comment

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World Bank launches Islam-compatible finance

World Bank launches Islam-compatible financeWorld Bank will provide finance for small and medium sized companies in Turkey through its Innovative Access to Finance Project.

The World Bank is to provide a loan of $250 million specifically for Turkish businesses that choose to be funded through loans compatible with Islamic values.

The Innovative Access to Finance Project will also apply to Muslim businesses in Egypt, according to a... Add a comment

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