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Online brokers crippled by Brexit woes

Monday, June 27, 2016 Finance
By Barry EitelAngry investors on Friday flooded the social media feeds of TD Ameritrade and Fidelity Investments with complaints after the financial websites were overwhelmed and crashed following Britain’s decision to leave the European Union. Hundreds of users reported they were unable to log in to their accounts or…

Fed ready to help central banks after Brexit

Saturday, June 25, 2016 Finance
By Ovunc KutluNEW YORK The Federal Reserve said Friday that it is ready to help other central banks after the U.K. voted to leave the EU and plunged financial markets and economies around the world into a tailspin. "The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with…

IMF head urges 'smooth transition' of Brexit

Saturday, June 25, 2016 Finance
The head of the International Monetary Fund (IMF) Friday urged British and European leaders to work towards a smooth transition in implementing the U.K.'s vote to leave the European Union.In a statement issued after the Brexit referendum, Christine Lagarde said her organization had taken note of the decision by the…

Housing sales on the rise in Turkey

Friday, June 24, 2016 Finance
Property sales in Turkey rose by 6.4 percent on an annual basis during May, Turkish Statistical Institute reported Friday.According to the institute, 114,800 houses changed hands in Turkey during the month.Of those sales, 1,612 were sold to foreigners, with approximately 30 percent (or 511 units) of them in Istanbul,…

Brexit vote shakes world economy, markets

Friday, June 24, 2016 Finance
Britain’s currency fell to its lowest value in decades and stock indices were shaken as markets reacted to the U.K. voters' decision to leave the European Union.“We are well prepared for this,” Bank of England Governor Mark Carney said early Friday. “The Bank of England will not hesitate to take additional measures as…

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June 27, 2016

Online brokers crippled by Brexit woes

By Barry EitelAngry investors on Friday flooded the social media feeds of TD Ameritrade and Fidelity Investments with complaints after the financial websites…
June 25, 2016

Fed ready to help central banks after Brexit

By Ovunc KutluNEW YORK The Federal Reserve said Friday that it is ready to help other central banks after the U.K. voted to leave the EU and plunged financial…
June 25, 2016

IMF head urges 'smooth transition' of Brexit

The head of the International Monetary Fund (IMF) Friday urged British and European leaders to work towards a smooth transition in implementing the U.K.'s vote…
June 24, 2016

Housing sales on the rise in Turkey

Property sales in Turkey rose by 6.4 percent on an annual basis during May, Turkish Statistical Institute reported Friday.According to the institute, 114,800…
June 24, 2016

Brexit vote shakes world economy, markets

Britain’s currency fell to its lowest value in decades and stock indices were shaken as markets reacted to the U.K. voters' decision to leave the European…

US Fed will remain cautious about rate hike

June 24, 2016 in Finance
NEW YORK The Federal Reserve will take a careful approach to raising interest rates amid risks to the U.S. economy and a global slowdown, Fed Chair Janet…

Greece 'on right track' as it receives $8.4B bailout

June 23, 2016 in Finance
By Magda PanaotsopoulouEuropean Commission President Jean-Claude Juncker on Tuesday declared Greece “on the right path” as the country received 7.5 billion…

Ex-UN General Assembly chief dies amid bribery charges

June 23, 2016 in Finance
Former UN General Assembly President John William Ashe has died after suffering a heart attack Wednesday, according to media reports. He was 61.Ashe served as…

Turkey's Central Bank cuts overnight lending rate

June 21, 2016 in Finance
Turkey’s Central Bank on Tuesday cut its overnight lending rate by 50 basis points following recent cuts in the last three months.The overnight lending rate,…

Most Europeans want UK to remain in EU, says survey

June 21, 2016 in Finance
By Ayhan SimsekBERLIN More than half of Europeans (54 percent) want the United Kingdom to remain in the EU, while 21 percent support the Brexit, a German…

9 years since crisis hit, Greek brain drain continues

June 21, 2016 in Finance
By Vasiliki MitsiniotouATHENS The economic crisis in Greece has led to an ongoing wave of emigration and a seemingly endless brain drain from the…

Turkey's TurkTraktor rolls off 400,000th engine

June 20, 2016 in Finance
Turkish tractor manufacturer TurkTraktor, a joint venture between CNHI and Turkish conglomerate Koc Holding, celebrated a major milestone Friday when its…

Natural gas could help reunify Cyprus

June 19, 2016 in Finance
By Murat DemirciLEFKOSA, Turkish Republic of Northern Cyprus Gas reserves in the waters around Cyprus could play a part in helping to reunite the island, the…

Turkish Airlines adds Slovakian city to destinations

June 18, 2016 in Finance
Turkish Airlines started a direct flight to the Slovakian city of Kosice from Istanbul on Thursday, the airline announced.Turkey's flagship air carrier said in…

US Federal Reserve keeps interest rate unchanged

June 18, 2016 in Finance
NEW YORK The Federal Reserve left its benchmark interest rate unchanged Wednesday during its much anticipated June meeting. The Federal Open Market Committee…

Crimean Tatar leader calls for human rights support

June 17, 2016 in Finance
By Betul YurukGENEVAThe leader of Crimea’s Tatars on Friday criticized Muslim nations for failing to support the peninsula’s Muslims against human rights…

Turkey runs budget surplus of $1.26B in May

June 17, 2016 in Finance
Turkey’s government ran a budget surplus of 3.7 billion liras ($1.26 billion) in May this year, Finance Minister Naci Agbal said Wednesday.The government's…

UN making progress in Syria's besieged towns: UN envoy

June 17, 2016 in Finance
By Betul YurukGENEVAThe United Nations’ Syria envoy said Thursday they have made progress, saying a psychological barrier was broken by reaching Syria's…

Tax hikes will follow Brexit, warns UK finance minister

June 16, 2016 in Finance
Britain’s finance minister Tuesday unveiled a “Brexit budget” of tax increases and deep spending cuts that he says would be needed if the U.K. votes to leave…

Weekly flights link Bremen to Turkish capital

June 15, 2016 in Finance
Turkey’s leading airport operator TAV announced Wednesday that Esenboga Airport in the Turkish capital Ankara received its first flight from Bremen, a city in…

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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