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Erdogan wants Turkey in ASEAN

Friday, July 31, 2015 Finance
President Recep Tayyip Erdogan told media during a three-day trip to Indonesia on Friday that he wanted Turkey to join his host country as a member of the Association of Southeast Asian Nations (ASEAN). Speaking at a joint press conference in the capital with Indonesian counterpart Joko Widodo, Erdogan said that as…

Erdogan: Daesh actions bear no relation to Turkey

Friday, July 31, 2015 Finance
Turkish President Recep Tayyip Erdogan said on Friday that Daesh’s actions bear no relation to Turkey's "religion, morality, conscience or culture". Erdogan, addressing Indonesian students at a Jakarta conference on Turkish foreign policy, said that both Turkey's and the international community's security is under…

Germany seeks splitting powers of EU commission

Friday, July 31, 2015 Finance
Germany has not denied on Friday reports that it is seeking reform on the competences of the European Commission, but claimed that its ideas do not intend the disempowerment of the institution. German Finance Minister Wolfgang Schauble is said to have floated the idea of limiting the powers of EU’s executive arm…

Erdogan: Turkey wants to become ASEAN member

Friday, July 31, 2015 Finance
President Recep Tayyip Erdogan told media during a three-day trip to Indonesia on Friday that Turkey was ready to become a member of the Association of Southeast Asian Nations (ASEAN) alongside his host nation. Speaking at a joint press conference in the capital with Indonesian counterpart Joko Widodo, Erdogan…

Chaos as Rome airport affected by forest fire

Friday, July 31, 2015 Finance
A woodland fire caused hours of delays for hundreds of passengers at Rome’s Leonardo da Vinci Airport on Friday, coinciding with the peak holiday rush and the city’s hottest July in 150 years. Passengers chanted "shame" and exchanged angry words with airport officials as flights were delayed and cancelled after a…

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July 31, 2015

Erdogan wants Turkey in ASEAN

President Recep Tayyip Erdogan told media during a three-day trip to Indonesia on Friday that he wanted Turkey to join his host country as a member of the…
July 31, 2015

Erdogan: Daesh actions bear no relation to Turkey

Turkish President Recep Tayyip Erdogan said on Friday that Daesh’s actions bear no relation to Turkey's "religion, morality, conscience or culture". Erdogan,…
July 31, 2015

Germany seeks splitting powers of EU commission

Germany has not denied on Friday reports that it is seeking reform on the competences of the European Commission, but claimed that its ideas do not intend the…
July 31, 2015

Erdogan: Turkey wants to become ASEAN member

President Recep Tayyip Erdogan told media during a three-day trip to Indonesia on Friday that Turkey was ready to become a member of the Association of…
July 31, 2015

Chaos as Rome airport affected by forest fire

A woodland fire caused hours of delays for hundreds of passengers at Rome’s Leonardo da Vinci Airport on Friday, coinciding with the peak holiday rush and the…

Probe into Malaysia state fund frozen till October

July 31, 2015 in Finance
A Public Accounts Committee (PAC) probe into debt-ridden 1Malaysia Development Bhd (1MDB) is to be halted until October when the ruling coalition nominates…

Russian Min.: Turkey, Russia agree on discount for gas

July 31, 2015 in Finance
Russian energy giant Gazprom and Turkey's state-owned pipeline corporation BOTAS agreed on a 10.25 percent discount on gas deliveries, Russian Energy Minister…

Erdogan: Daesh actions bear no relation to Turkey in any way

July 31, 2015 in Finance
Turkish President Recep Tayyip Erdogan said Friday that Daesh’s actions bear no relation to Turkey's "religion, morality, conscience or culture". Erdogan,…

Major obstacles stand in way of 'Turkish Stream'

July 31, 2015 in Finance
Major obstacles stand in the way of an intergovernmental agreement between Turkey and Russia for the so called ‘Turkish Stream’ natural gas pipeline project.…

Tsipras wins political victory in support for bailout deal

July 31, 2015 in Finance
Greek Prime Minister Alexis Tsipras won an important political victory on Thursday, one that indicated SYRIZA party support for the bailout deal his government…

Brazil records worst deficit in nearly 2 decades

July 31, 2015 in Finance
The government registered a primary deficit of $470 million (1.6 billion real) in the first half of 2015, according to figures from the National Treasury on…

Erdogan wants Turkey/China trade imbalance tackled

July 30, 2015 in Finance
President Tayyip Erdogan has underlined during a visit to Beijing that even though China is Turkey's third biggest trade partner, Ankara has a long way to go…

Turkey seeks more local components for 4G tender

July 30, 2015 in Finance
The specifications for the tender on August 26 for Turkey's 4G mobile network services and infrastructure have been changed to include a greater amount of…

Air Madagascar strike wreaks havoc on economy

July 30, 2015 in Finance
Tourist season in Madagascar is reeling from the impact of a strike by Air Madagascar workers that lasted for nearly one month. The strike, which ended on July…

US energy chief admits to not seeing Iran-IAEA deal

July 30, 2015 in Finance
A U.S. Cabinet member unwittingly admitted Wednesday that he has not yet seen side agreements between Iran and the UN's nuclear watchdog, regarding Tehran’s…

Trade focus of Erdogan China trip, but Uighur discussed

July 29, 2015 in Finance
Bilateral trade was the focus of discussion Wednesday during President Recep Tayyip Erdogan's first visit to China as president, but both countries’ leaders…

Federal Reserve holds interest rates

July 29, 2015 in Finance
The Federal Reserve held interest rates at their current levels on Wednesday but hinted the U.S. economy had improved sufficiently for a rate rise soon. Rates…

Russia-Turkey gas pipeline may be delayed

July 29, 2015 in Finance
Work on the proposed gas pipeline running under the Black Sea from Russia to Turkey will not begin until the two countries sign an agreement on the project,…

IMF's Lagarde says global recovery fraught with risk

July 29, 2015 in Finance
Global economic recovery remains “fragile” and fraught with risks, International Monetary Fund (IMF) chief Christine Lagarde said on Wednesday. In a televised…

Turkey, China talk trade importance during Erdogan trip

July 29, 2015 in Finance
China and Turkey's leaders highlighted the importance of bilateral trade Wednesday during Recep Tayyip Erdogan's first visit to the world's second-biggest…

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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