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Venezuela president visits Qatar to try to boost oil prices

Friday, September 04, 2015 Finance
Venezuelan President Nicolás Maduro arrived in Qatar on Friday to find consensus on measures to boost low oil prices that have left the Latin American country's economy in tatters. As he touched down in the capital Doha on the last leg of a tour of Asian oil producers, Maduro tweeted that he was in Qatar "completing…

Turkish PM: Inclusiveness is key element to beat crisis

Friday, September 04, 2015 Finance
For Turkish Prime Minister Ahmet Davutoglu, inclusiveness is a key factor in confronting the global economıc crisis. "Political leaders in all countries must work together to find solutions," said Davutoglu speaking at the G20 conference in Ankara on Friday. "We are coming into a new world. Consultation and…

Lagarde: Finance is major obstacle in emerging markets

Friday, September 04, 2015 Finance
Access to finance remains a major obstacle to companies in emerging markets, International Monetary Fund Managing Director Christine Lagarde told the G20 on Friday. "These companies do not have necessarily access to collateral, to finance with banks," Lagarde said in the Turkish capital Ankara. "This makes bank…

Concerns in Istanbul over rise in housing prices

Friday, September 04, 2015 Finance
Real estate experts in Istanbul are concerned following an approximately 28 percent rise in housing prices across the city in the last year. Housing prices in the city -- the country's financial and cultural capital -- have increased 27.57 percent as of June 2015 year-on-year, above the country average of 18.96…

Experts say 'Turkey has risen to G20 challenge'

Friday, September 04, 2015 Finance
The Turkish G20 has led to significant steps forward, experts at the G20 meeting in capital Ankara told Anadolu Agency on Thursday. "Turkey has risen to the G20 challenge with creativity and real application," International Chamber of Commerce Secretary-General John Danilovich said. "The work done under the Turkish…

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September 04, 2015

Venezuela president visits Qatar to try to boost oil prices

Venezuelan President Nicolás Maduro arrived in Qatar on Friday to find consensus on measures to boost low oil prices that have left the Latin American…
September 04, 2015

Turkish PM: Inclusiveness is key element to beat crisis

For Turkish Prime Minister Ahmet Davutoglu, inclusiveness is a key factor in confronting the global economıc crisis. "Political leaders in all countries must…
September 04, 2015

Lagarde: Finance is major obstacle in emerging markets

Access to finance remains a major obstacle to companies in emerging markets, International Monetary Fund Managing Director Christine Lagarde told the G20 on…
September 04, 2015

Concerns in Istanbul over rise in housing prices

Real estate experts in Istanbul are concerned following an approximately 28 percent rise in housing prices across the city in the last year. Housing prices in…
September 04, 2015

Experts say 'Turkey has risen to G20 challenge'

The Turkish G20 has led to significant steps forward, experts at the G20 meeting in capital Ankara told Anadolu Agency on Thursday. "Turkey has risen to the…

Brazil finance minister cancels G20 trip to Turkey

September 04, 2015 in Finance
The country’s finance minister will no longer attend a G20 meeting in Turkey, ministry officials told Anadolu Agency on Thursday. The Ministry of Finance told…

Turkey says G20 in 2015 to focus on inclusive growth

September 03, 2015 in Finance
G20 in 2015 will focus its efforts on ensuring inclusive and robust growth through collective action, Turkish Deputy Prime Minister Cevdet Yilmaz…

Afghanistan seeks to realize dream of 'New Silk Road'

September 03, 2015 in Finance
Afghanistan's government reiterated its call to regional neighbors to help it become a trading hub for Asia at a regional meeting held in Kabul on Thursday.…

Can banking solve Africa's poverty problem?

September 03, 2015 in Finance
 Despite being difficult to access, financial services in Africa are a tool in the fight against poverty and increasing development, Stefan Nalletamby,…

Turkey: Annual inflation rate rises to 7.14 pct in Aug.

September 03, 2015 in Finance
 Inflation in Turkey increased in August after falling for two consecutive months, official statistics shows on Thursday. The annual inflation rate rose to…

Brazil ends interest rate hikes as real falls to new low

September 03, 2015 in Finance
 Brazil ended a cycle of aggressive interest rate hikes Wednesday, in a bid to shore up Latin America's biggest economy as it faces its worst recession in 25…

4.5G network opens new era, Turk Telekom CEO says

September 02, 2015 in Finance
The Turk Telekom CEO praised the introduction of the 4.5G in Turkey on Wednesday, calling it a revolution as well as an important milestone for the Turkish…

US economy adds 190,000 jobs in August

September 02, 2015 in Finance
The U.S. economy added fewer jobs than the economist consensus forecast in August, the ADP Employment report showed. The private sector saw employment increase…

Russian flag carrier Aeroflot takes over Transaero

September 02, 2015 in Finance
Russian flag carrier Aeroflot will acquire control of troubled airline Transaero. Transaero said in a statement late Tuesday that it "would be integrated" into…

Moody's: Turkey's rating supported by economic strengths

September 02, 2015 in Finance
Economic strengths support Turkey's 'Baa3' credit rating, Moody's analyst Alpona Banerji told Anadolu Agency on Wednesday. "Turkey’s 'Baa3' rating incorporates…

Global markets eye US employment data

September 02, 2015 in Finance
Global markets on Wednesday were focused on the ADP employment report to be released at 1230GMT. Analysts expect U.S. payrolls to have added 200,000 jobs, up…

IMF warns of challenges for emerging markets

September 02, 2015 in Finance
International Monetary Fund Managing Director Christine Lagarde warned in a speech Wednesday that emerging markets were to face increasing economic challenges…

Eurozone unemployment hits lowest level since Feb. 2012

September 01, 2015 in Finance
Unemployment in the eurozone has fallen to the lowest level seen since February 2012, the Statistical Office of the European Union said in a report on Tuesday.…

Turkish exports down 4.9 percent in August

September 01, 2015 in Finance
Turkey’s exports declined 4.9 percent in August from the same month in the previous year, the Turkish Exporters Assembly reported on Tuesday. Exports fell to…

Turkey signs 20 cooperation deals with Sudan

September 01, 2015 in Finance
Turkey has signed 20 economic cooperation agreements with Sudan, a Sudanese official told the Anadolu Agency on Monday. Speaking after the visit of the deputy…

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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