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Turkey to explore for oil in northern Iraq

Wednesday, March 04, 2015 Expert Advice
Agreements with Baghdad and Northern Iraq authorize Turkish oil exploration in the country, Energy Minister Yildiz says Turkey will explore foroil in the Hindirin and Coman fields near Mount Qandil in northern Iraq, said Turkey’s Energy Minister Taner Yildiz on Monday. "We have agreements with Baghdad and Northern…

India increases defense budget by over 10 percent

Wednesday, March 04, 2015 Middle East
The hike in defense budget will help in pursuing the Indian government’s ‘Make-in-India’ initiative, Indian Finance Minister Arun Jaitley says India has increased its annual defense budget by over 10 percent to $40 billion, Indian Finance Minister Arun Jaitley said Saturday. Jaitley made the announcement in his budget…

Eurozone inflation stays in negative territory

Wednesday, March 04, 2015 Finance
Consumer price index slide shows lack of growth, poor consumer sentiment across the euro area as deflation threat looms European inflation has remained in negative territory, the European statistics authority said in a statement on Monday. Eurozone annual inflation is expected to be -0.3 percent in February 2015, a…

Fighting at Hong Kong protest over mainlander shoppers

Wednesday, March 04, 2015 Asia
Locals accuse mainland Chinese of inflating prices Scuffles broke out Sunday as Hong Kongers protesting against an influx of shoppers from mainland China clashed with villagers from the border area, local media reported. Police used pepper spray as fighting broke out in Yuen Long as around 200 marchers protested…

Turkish Central Bank 'cautious' on further rate cuts

Wednesday, March 04, 2015 Enterprise
Minutes of monetary policy committee warn 'heightened price volatility' mean caution in cutting interest rates The Central Bank of Turkey said in a statement released on Tuesday that it would cut interest rates "on a measured scale." The bank's Monetary Policy Committee published the minutes of its last meeting, and…

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March 04, 2015

Turkey to explore for oil in northern Iraq

Agreements with Baghdad and Northern Iraq authorize Turkish oil exploration in the country, Energy Minister Yildiz says Turkey will explore foroil in the…
March 04, 2015

India increases defense budget by over 10 percent

The hike in defense budget will help in pursuing the Indian government’s ‘Make-in-India’ initiative, Indian Finance Minister Arun Jaitley says India has…
March 04, 2015

Eurozone inflation stays in negative territory

Consumer price index slide shows lack of growth, poor consumer sentiment across the euro area as deflation threat looms European inflation has remained in…
March 04, 2015

Fighting at Hong Kong protest over mainlander shoppers

Locals accuse mainland Chinese of inflating prices Scuffles broke out Sunday as Hong Kongers protesting against an influx of shoppers from mainland China…
March 04, 2015

Turkish Central Bank 'cautious' on further rate cuts

Minutes of monetary policy committee warn 'heightened price volatility' mean caution in cutting interest rates The Central Bank of Turkey said in a statement…

Turkish Central Bank to fix forex auction sale amounts daily

March 03, 2015 in Enterprise
The central bank will set the amount of foreign exchange to be sold at auction every day  The Turkish Central Bank on Friday said that the amount of foreign…

Turkey obtains 10.25 percent gas price discount from Russia

March 03, 2015 in Energy
'The discount will not affect the natural gas prices that households and industry use due to the lira-dollar exchange rate,' says energy minister Russia has…

German parliament approves Greek bailout extension

March 03, 2015 in Europe
Bundestag backs extension of Greek rescue program by four months as government urges SYRIZA to stick to reforms The German parliament has approved extending…

Turkey's Vakifbank to launch Islamic unit

March 03, 2015 in Enterprise
Vakifbank, third-largest state bank, receives regulatory approval to start an Islamic banking division Turkey's third-largest state bank Vakıfbank has received…

Net profit in Turkey’s banking sector increases

March 03, 2015 in Finance
Turkish banking sector's assets increased by 1.9 percent in January from the end of 2014, while its net profit increased by 52 percent compared to January…

Turkish lira slips further against strong dollar

March 02, 2015 in Finance
Increasing dollar strength against all emerging market currencies is pressuring the lira, analysts say The Turkish lira approached a record low against the…

Athens: 'Unbinding reforms' give Greece an advantage

March 02, 2015 in Europe
Athens says new reforms agreed with creditors leave 'space' to assist pensioners, taxpayers and workers. The "vagueness" of a list of reforms sent by Athens to…

New Greek government sees trouble on bailout deal: Expert

March 02, 2015 in Finance
 Political analyst: 'Once real impact of terms agreed between Greek government and Eurozone is felt, popularity will be severely diminished.' Greek political…

South Korea, Turkey broaden scope of FTA

March 02, 2015 in Finance
Both nations set to start negotiations on full free-trade agreement, Turkish economy minister says. Turkey and South Korea have signed an agreement aimed at…

Experts: SYRIZA failure to fulfill pledges poses risks

March 02, 2015 in Finance
SYRIZA’s failure to keep its key election promises poses a risk for political stability in Greece in the short term, experts warn Even though the Greek…

Turkish-Serbian trade doubles in four years

March 01, 2015 in Finance
Bilateral trade reaches more than $800 million, Turkish assistant minister of economy says Trade between Turkey and Serbia has more than doubled in four years…

Petrobras stocks, bonds slump after Moody's junk rating

March 01, 2015 in Enterprise
Moody's rating agency stripped the Brazilian oil company of its investment grade rating, citing concerns about corruption investigations and liquidity…

UK: Top HSBC chiefs apologize for Swiss leaks scandal

March 01, 2015 in Enterprise
 "It clearly was unacceptable,” Stuart Gulliver, the Group Chief Executive of HSBC Holdings plc., has told British parliamentarians in London Stuart Gulliver,…

Turkish and French companies in joint missile development

March 01, 2015 in Innovation
France's Thales will put its Lightweight Multi-role Missiles on Turkish Aselsan's launchpad. Turkish defense contractor Aselsan and French defense contractor…

Merkel says Greece has more work to do

March 01, 2015 in Europe
 German Chancellor says Athens' reform list is a "starting point." German Chancellor Angela Merkel cautiously welcomed on Wednesday the agreement on extending…

Turkey to explore for oil in northern Iraq

Turkey to explore for oil in northern IraqAgreements with Baghdad and Northern Iraq authorize Turkish oil exploration in the country, Energy Minister Yildiz says

Turkey will explore foroil in the Hindirin and Coman fields near Mount Qandil in northern Iraq, said Turkey’s Energy Minister Taner Yildiz on Monday.

"We have agreements with Baghdad and Northern Iraq. In the frame of these agreements we will explore for oil there," he... Add a comment

Read more...

India increases defense budget by over 10 percent

India increases defense budget by over 10 percentThe hike in defense budget will help in pursuing the Indian government’s ‘Make-in-India’ initiative, Indian Finance Minister Arun Jaitley says

India has increased its annual defense budget by over 10 percent to $40 billion, Indian Finance Minister Arun Jaitley said Saturday.

Jaitley made the announcement in his budget for the financial year 2015-2016 at the Indian parliament in the... Add a comment

Read more...

Eurozone inflation stays in negative territory

Eurozone inflation stays in negative territoryConsumer price index slide shows lack of growth, poor consumer sentiment across the euro area as deflation threat looms

European inflation has remained in negative territory, the European statistics authority said in a statement on Monday.

Eurozone annual inflation is expected to be -0.3 percent in February 2015, a slight increase from -0.6 percent in January, according to a flash estimate... Add a comment

Read more...

Fighting at Hong Kong protest over mainlander shoppers

Fighting at Hong Kong protest over mainlander shoppersLocals accuse mainland Chinese of inflating prices

Scuffles broke out Sunday as Hong Kongers protesting against an influx of shoppers from mainland China clashed with villagers from the border area, local media reported.

Police used pepper spray as fighting broke out in Yuen Long as around 200 marchers protested against mainland Chinese who many accuse of distorting the local economy with... Add a comment

Read more...

Turkish Central Bank 'cautious' on further rate cuts

Turkish Central Bank 'cautious' on further rate cutsMinutes of monetary policy committee warn 'heightened price volatility' mean caution in cutting interest rates

The Central Bank of Turkey said in a statement released on Tuesday that it would cut interest rates "on a measured scale."

The bank's Monetary Policy Committee published the minutes of its last meeting, and stressed that it would apply caution in cutting interest rates in the... Add a comment

Read more...

Turkish Central Bank to fix forex auction sale amounts daily

Turkish Central Bank to fix forex auction sale amounts dailyThe central bank will set the amount of foreign exchange to be sold at auction every day

 The Turkish Central Bank on Friday said that the amount of foreign exchange sold at auctions will be set on a daily basis depending on the conditions in the foreign exchange market.

In a statement, the central bank said that the policy will initiate as of Feb. 27. The decision was made due to... Add a comment

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Turkey obtains 10.25 percent gas price discount from Russia

Turkey obtains 10.25 percent gas price discount from Russia'The discount will not affect the natural gas prices that households and industry use due to the lira-dollar exchange rate,' says energy minister

Russia has agreed to give Turkey a 10.25 percent discount on natural gas supplied from March onwards, Turkish Energy Minister Taner Yildiz said Friday.

In Dec. 2014, Russian President Vladimir Putin offered a 6 percent discount on natural gas, but... Add a comment

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German parliament approves Greek bailout extension

German parliament approves Greek bailout extensionBundestag backs extension of Greek rescue program by four months as government urges SYRIZA to stick to reforms

The German parliament has approved extending Greece's bailout program by four months, following a deal between Athens and the Eurozone on the continuation of reforms in the Greek economy.

A total of 542 German lawmakers voted Friday in favor of the extension of Greece’s €240... Add a comment

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Turkey's Vakifbank to launch Islamic unit

Turkey's Vakifbank to launch Islamic unitVakifbank, third-largest state bank, receives regulatory approval to start an Islamic banking division

Turkey's third-largest state bank Vakıfbank has received regulatory approval Tuesday from the Banking Regulation and Supervision Agency to establish an Islamic banking division.

Vakıfbank will be allowed to set up a stand-alone Islamic unit capitalized at $300 million, the bank said in a... Add a comment

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Net profit in Turkey’s banking sector increases

Net profit in Turkey’s banking sector increasesTurkish banking sector's assets increased by 1.9 percent in January from the end of 2014, while its net profit increased by 52 percent compared to January 2014.

The net profit in Turkey’s banking sector increased by 52 percent to 2.15 billion Turkish lira ($857 million) in January compared with 1.42 billion lira in January 2014.

According to figures released by the Banking Regulation and... Add a comment

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