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OPEC will not reduce oil production

Saturday, November 29, 2014 Enterprise
OPEC has decided not to reduce oil production from now through the first half of 2015. The price of oil hit a four-year low within minutes of the announcement after the OPEC meeting in Vienna on Thursday. The price of Brent crude dropped to $76.48 a barrel – a four-year low – while West Texas Intermediate fell to…

Turkey's foreign trade deficit dips in October

Saturday, November 29, 2014 Stock Markets
Turkey's foreign trade deficit shrank for the second consecutive month in October, the Turkish Statistical Institute said Friday. In October, the country's foreign trade deficit declined from $7.4 billion in same month of last year to $6.2 billion, a drop of 15.8 percent, according to Turkstat figures. The deficit in…

Babacan: Turkey is effectively rebalancing the economy

Saturday, November 29, 2014 Expert Advice
The Turkish government is getting good results in rebalancing the economy, Deputy Prime Minister Ali Babacan said on Thursday. In an interview with the Japanese Nikkei newspaper on Thursday, Babacan, whose particular responsibility is the economy, discussed where policy has been successful, as well as his own future.…

US third-quarter growth higher than expected

Saturday, November 29, 2014 America
The U.S. economy grew faster than expected in the third quarter, according Commerce Department statistics released on Tuesday. The national gross domestic product -- the broadest measure of goods and services -- increased at an annual rate of 3.9 percent in the third quarter of this year. The reading was well above…

Turkish paper marbling included in UNESCO cultural list

Saturday, November 29, 2014 Culture & Art
Turkish paper marbling, known as Ebru in Turkish language, has been added to United Nations' list of the world's cultural heritage. Turkish Culture and Tourism Minister Omer Celik said Turkey applied to UNESCO for this art to be included in the cultural heritage list in March of last year. "With the art of Ebru, the…

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November 29, 2014

OPEC will not reduce oil production

OPEC has decided not to reduce oil production from now through the first half of 2015. The price of oil hit a four-year low within minutes of the announcement…
November 29, 2014

Turkey's foreign trade deficit dips in October

Turkey's foreign trade deficit shrank for the second consecutive month in October, the Turkish Statistical Institute said Friday. In October, the country's…
November 29, 2014

Babacan: Turkey is effectively rebalancing the economy

The Turkish government is getting good results in rebalancing the economy, Deputy Prime Minister Ali Babacan said on Thursday. In an interview with the…
November 29, 2014

US third-quarter growth higher than expected

The U.S. economy grew faster than expected in the third quarter, according Commerce Department statistics released on Tuesday. The national gross domestic…
November 29, 2014

Turkish paper marbling included in UNESCO cultural list

Turkish paper marbling, known as Ebru in Turkish language, has been added to United Nations' list of the world's cultural heritage. Turkish Culture and Tourism…

Turkey: Outlook for construction, retail trade improves

November 28, 2014 in Real Estate
Service sector less confident as index drops slightly. The outlook for construction and the retail trade has improved in November, according to readings of…

Solutions to cyberattacks inadequate: Turkish official

November 28, 2014 in Stock Markets
 The current global technology solutions to deal with cyberattacks remain inadequate, Turkey’s Undersecretary for Defense Industries said Thursday. Ismail…

Brent oil price dips to new low on eve of OPEC meeting

November 28, 2014 in Energy
Brent crude oil price dipped to a new four-year low below $77 per barrel on Thursday morning on the eve of the OPEC meeting to discuss setting of production…

Turkey holds talk for increased gas supply from Russia

November 28, 2014 in Stock Markets
Natural gas talks with Russia to secure price discounts for increased supplies from Gazprom to Turkey are in progress, said Turkey's energy minister on…

Turkish Airlines signs deal with Scottish agency

November 28, 2014 in Enterprise
Turkish Airlines signed on Wednesday a strategic partnership agreement with the Scottish Chamber of Commerce in Edinburgh. Under the agreement, the…

ECB's quantitative easing is short-term fix: Experts

November 27, 2014 in Stock Markets
Experts say that the European Central Bank's decision to undertake a quantitative easing program is a short-term fix that could leave important issues…

Turkcell’s story taught at Harvard Business School

November 27, 2014 in Enterprise
The history of Turkey’s largest mobile phone operator, Turkcell, will be taught in a course at Harvard Business School, the company announced on Wednesday.…

Danger for Turkish growth if US hikes rates: Moody's

November 27, 2014 in Stock Markets
An eventual interest rate hike by the U.S. Federal Reserve could threaten Turkish economic growth, a Moody's analyst said on Wednesday. Turkey’s growth model…

Foreigners bought average monthly 1.500 houses from Turkey in this year

November 27, 2014 in Real Estate
Between the months of January and October of this year, house sales to foreigners exceeded over 15,000 with a 66 percent increase compared to same period of…

Iraq to raise oil production despite low prices

November 27, 2014 in Energy
Iraq is focusing on boosting oil production despite falling oil prices, ahead of OPEC's meeting on Thursday where the cartel will seek to resolve the cost and…

Edirne Palace to gain status of ancient site

November 26, 2014 in Real Estate
Cultural officials are working on a plan to bestow the status of ancient site on Edirne Palace, which was built by Mehmet the Conqueror in the northwestern…

Turkish G20 presidency to focus on structural reforms

November 26, 2014 in Stock Markets
Turkey will pay attention to structural reforms when it takes over the G20 presidency on Dec. 1 this year, Deputy Prime Minister Ali Babacan said Tuesday.…

Global attendance at international energy meeting

November 26, 2014 in Stock Markets
Ankara has hosted the seventh International Energy Congress and Fair, and The Anadolu Agency was global partner for the conference. Representatives of…

Experts: Oil prices likely to fall further

November 26, 2014 in Energy
Oil prices are likely to continue to fall after hitting a four-year low last week, driven by slowing global growth and increased supply. Crude oil prices fell…

Turkey to build nuclear reactor with China, US company

November 26, 2014 in Energy
Turkish and Chinese state-owned companies, and a private U.S.-based company have signed an agreement to build a nuclear power plant in Turkey. Turkey’s state…

Turkish paper marbling included in UNESCO cultural list

Turkish paper marbling included in UNESCO cultural listTurkish paper marbling, known as Ebru in Turkish language, has been added to United Nations' list of the world's cultural heritage. 

Turkish Culture and Tourism Minister Omer Celik said Turkey applied to UNESCO for this art to be included in the cultural heritage list in March of last year. 

"With the art of Ebru, the number of the elements that represent Turkey on the list has reached to... Add a comment

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Turkey's foreign trade deficit dips in October

Turkey's foreign trade deficit dips in OctoberTurkey's foreign trade deficit shrank for the second consecutive month in October, the Turkish Statistical Institute said Friday.

In October, the country's foreign trade deficit declined from $7.4 billion in same month of last year to $6.2 billion, a drop of 15.8 percent, according to Turkstat figures.

The deficit in first ten months of the year also declined, from $82.7 billion to $67.6... Add a comment

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US third-quarter growth higher than expected

US third-quarter growth higher than expectedThe U.S. economy grew faster than expected in the third quarter, according Commerce Department statistics  released on Tuesday.

The national gross domestic product -- the broadest measure of goods and services -- increased at an annual rate of 3.9 percent in the third quarter of this year.

The reading was well above agency estimates from last month of 3.5 percent growth for the... Add a comment

Read more...

OPEC will not reduce oil production

OPEC will not reduce oil productionOPEC has decided not to reduce oil production from now through the first half of 2015. 

The price of oil hit a four-year low within minutes of the announcement after the OPEC meeting in Vienna on Thursday.

 The price of Brent crude dropped to $76.48 a barrel – a four-year low – while West Texas Intermediate fell to $72.69.  

OPEC officials announced the decision after five hours of... Add a comment

Read more...

Babacan: Turkey is effectively rebalancing the economy

Babacan: Turkey is effectively rebalancing the economyThe Turkish government is getting good results in rebalancing the economy, Deputy Prime Minister Ali Babacan said on Thursday.

In an interview with the Japanese Nikkei newspaper on Thursday, Babacan, whose particular responsibility is the economy, discussed where policy has been successful, as well as his own future.

The Deputy Prime Minister, who deserve ample credit for the country’s... Add a comment

Read more...

Turkey: Outlook for construction, retail trade improves

Turkey: Outlook for construction, retail trade improvesService sector less confident as index drops slightly.

The outlook for construction and the retail trade has improved in November, according to readings of indexes from the Turkish Institute for Statistics released.

The confidence index for construction rose to 82.9 in November from 81.7 in the previous month. This indicates that current overall orders in the construction sector in Turkey... Add a comment

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Solutions to cyberattacks inadequate: Turkish official

Solutions to cyberattacks inadequate: Turkish official The current global technology solutions to deal with cyberattacks remain inadequate, Turkey’s Undersecretary for Defense Industries said Thursday.

Ismail Demir also stressed that cyberattacks against a country’s information system were more dangerous than a physical attack.

Demir made the remarks at the International Cyber Warfare and Security Conference in Ankara.

“Cyberattacks... Add a comment

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Brent oil price dips to new low on eve of OPEC meeting

Brent oil price dips to new low on eve of OPEC meetingBrent crude oil price dipped to a new four-year low below $77 per barrel on Thursday morning on the eve of the OPEC meeting to discuss setting of production quotas against falling oil prices since June.

The leading global benchmark for oil trading fell to $76.28 per barrel on Thursday morning, the lowest point since October 2010, according to official figures. 

The Brent crude oil price... Add a comment

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Turkey holds talk for increased gas supply from Russia

Turkey holds talk for increased gas supply from RussiaNatural gas talks with Russia to secure price discounts for increased supplies from Gazprom to Turkey are in progress, said Turkey's  energy minister on Wednesday inMoscow.

After the thirteenth Turkey- Russia Joint Economic Commission held in the Russian capital, Turkish Energy Minister TanerYildiz and his Russian counterpart Alexander Novak approved a final memorandum agreement which will... Add a comment

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Turkish Airlines signs deal with Scottish agency

Turkish Airlines signs deal with Scottish agencyTurkish Airlines signed on Wednesday a strategic partnership agreement with the Scottish Chamber of Commerce in Edinburgh.

Under the agreement, the Turkish-Scottish Chamber of Commerce & Industry is created to raise awareness of Turkish commerce in the U.K. region. 

Ahmet Serhat Sarı, head of the airline’s Edinburgh office, said that there is vast potential to increase trade between... Add a comment

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