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US: Another extension on Iran nuclear talks ‘possible’

Tuesday, July 07, 2015 Finance
 Talks with Iran over its nuclear program could be prolonged beyond a nearly concluded seven-day extension, the State Department said Monday. “Is it possible? Sure, but I can't tell you it's a certainty,” spokesman John Kirby told reporters. “A deal could be had quickly or a deal could be had in a few days, or we…

Greece: British gov't assures UK's financial stability

Tuesday, July 07, 2015 Finance
The British government will do whatever is necessary to ensure the U.K.’s financial stability, British Chancellor of the Exchequer said one day after Greeks rejected the international creditors' bailout terms in a referendum. George Osborne told British MPs that the Greek crisis “has been one of the biggest external…

Asian shares rise as Tsipras meets Eurogroup

Tuesday, July 07, 2015 Finance
Asian shares rose on Tuesday and the euro held firm amid the hope that the Greek government would finally reach a compromise bailout agreement at its meeting with the Eurogroup in Brussels. Japan's Nikkei rose 1.2 percent while MSCI's Asia-Pacific index, which fell to six-month low on Monday, was up 0.3 percent. Greek…

Europe's leaders ponder next move for Greece

Monday, July 06, 2015 Finance
The German government has voiced its skepticism over fresh bailout negotiations following Greece’s rejection of its creditors’ economic reform proposals. Chancellor Angela Merkel’s spokesman Steffen Seibert said Germany was open to talks with Greece but indicated little enthusiasm for discussing a new aid program.…

Europe's Left rejoices in Greek 'No' vote

Monday, July 06, 2015 Finance
Leftist politicians from across Europe on Monday hailed Greece’s “courageous” vote to reject the austerity measures proposed by the country’s creditors. Reaction to Sunday’s “No” vote from opposition groups around the continent was at odds with the warnings issued by government leaders about Greece’s future in the…

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July 07, 2015

US: Another extension on Iran nuclear talks ‘possible’

 Talks with Iran over its nuclear program could be prolonged beyond a nearly concluded seven-day extension, the State Department said Monday. “Is it possible?…
July 07, 2015

Greece: British gov't assures UK's financial stability

The British government will do whatever is necessary to ensure the U.K.’s financial stability, British Chancellor of the Exchequer said one day after Greeks…
July 07, 2015

Asian shares rise as Tsipras meets Eurogroup

Asian shares rose on Tuesday and the euro held firm amid the hope that the Greek government would finally reach a compromise bailout agreement at its meeting…
July 06, 2015

Europe's leaders ponder next move for Greece

The German government has voiced its skepticism over fresh bailout negotiations following Greece’s rejection of its creditors’ economic reform proposals.…
July 06, 2015

Europe's Left rejoices in Greek 'No' vote

Leftist politicians from across Europe on Monday hailed Greece’s “courageous” vote to reject the austerity measures proposed by the country’s creditors.…

Romania to prioritize ‘connectivity’ as Black Sea chair

July 06, 2015 in Finance
Romania will concentrate on “connectivity” among members of Organization of the Black Sea Economic Cooperation as Bucharest takes the reins of the regional…

Brent oil below $60 a barrel following Greek vote

July 06, 2015 in Finance
The price of Brent oil fell below $60 a barrel on Monday after Greece rejected its creditors' bailout terms. The price of the global benchmark closed last…

France: no 'automatic exit' of Greece from euro

July 06, 2015 in Finance
French Finance Minister Michel Sapin said Monday the ‘no’ vote in the Greek referendum does not mean an automatic exit from the eurozone, and urged Athens to…

Stocks fall, euro holds after 'No' vote in Greek referendum

July 06, 2015 in Finance
Stocks fell, but the euro held up after the "No" vote in the Greek bailout referendum on Sunday. Asian stocks were lower: Japan's Nikkei stock index was down…

Watchdog to report Iran's military nuclear capacity

July 04, 2015 in Finance
 The International Atomic Energy Agency (IAEA) may report on the potential military uses of Iran’s nuclear program by the end of the year, the watchdog said on…

Greece 'not the only eurozone country facing debt'

July 04, 2015 in Finance
Six eurozone nations are among 10 countries with the highest percentage of debts compared to their Gross Domestic Product (GDP), data from the International…

Turkish firms exposed to foreign exchange risks: Fitch

July 03, 2015 in Finance
Companies in Turkey are the most vulnerable among EMEA countries to foreign exchange volatility, Fitch Ratings said, in a statement on Friday. “Over 85 percent…

Dr. Doom: 'Kick Greece out and never take them in'

July 03, 2015 in Finance
Swiss guru investor Marc Faber, in an interview with Anadolu Agency on Friday, said he wanted Greece to leave the euro. "What I think should happen is to kick…

Danger of 'Grexit' contagion for Europe's periphery

July 03, 2015 in Finance
Europe’s peripheral economies are facing the dangerous effects of economic fallout from the Greek crisis, economists said on Friday. Portugal, Spain and…

Turkey: Inflation drops sharply in June

July 03, 2015 in Finance
Inflation in Turkey dropped sharply in June, the Turkish Statistical Institute reported on Friday. The Consumer Price Index lost 0.51 percent in June from May,…

ING ‘to acquire HSBC Turkey’

July 03, 2015 in Finance
Dutch ING group is set to acquire HSBC Turkey, banking sources said on Friday. HSBC Turkey is selling off its corporate, investment banking operations and…

SOCAR Turkey CEO: TANAP to create 15,000 jobs

July 03, 2015 in Finance
Kenan Yavuz, Turkey CEO of the State Oil Company of Azerbaijan, runs the Trans Anatolian Natural Gas Pipeline (TANAP) project. He told Anadolu Agency about how…

Capital controls cost Greek exporters €60M per week

July 02, 2015 in Finance
Greek exporters have been hit by the imposition of capital controls in banks since last Monday, the Pan-Hellenic Exporters Association said in a press release…

US: Weak employment report could delay Fed rate hike

July 02, 2015 in Finance
A weak report on U.S. employment Thursday could delay Federal Reserve plans for an interest rate hike this year. Employment growth slowed in the U.S. in June.…

Key issues remain for ministers in nuclear talks: Iran

July 02, 2015 in Finance
Some key issues remain for ministers to discuss in nuclear talks between Iran and P5+1 countries, Iranian Deputy Foreign Minister Majid Takht Ravanchi said…

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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