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China holds sway in new 'scramble for Africa': Experts

Monday, August 03, 2015 Finance
In recent years, China has emerged as the largest commercial investor in Africa, taking advantage of its massive economic expansion to impose its political will on the continent, experts say. “China has become very powerful and indirectly influences the policies of its African partners,” Evariste Ngarlem Tolde, a…

Port of Aden to reopen after being damaged in Yemen war

Monday, August 03, 2015 Finance
 The Port of Aden in southern Yemen is back in business just days after the Yemeni government announced the recapture of the city from Houthi militants and forces loyal to former President Ali Abdullah Saleh. War and militant activities in the area forced the port to shut down last April, when the Houthis captured…

Dutch media promotes 'safe, peaceful holidays' in Turkey

Monday, August 03, 2015 Finance
Two Dutch reporters have dispeled the notion that Turkey is not fit for foreign tourists in the aftermath of recent violent incidents in the country. The reporters, who were invited on an all expenses paid visit to Turkey's tourist resort town of Marmaris in southern Mugla province on behalf of a Turkish…

Greek stock exchange reopens, drops one quarter in value

Monday, August 03, 2015 Finance
The Greek stock exchange re-opened with a one-quarter average decline on Monday. The exchange had been closed for five weeks as part of the capital controls imposed by the government's bailout terms with creditors. The benchmark Athex composite index dropped 23 percent at the open. The National Bank of Greece, the…

Turkey: Inflation drops sharply in July

Monday, August 03, 2015 Finance
Inflation in Turkey dropped for the second month in July, the Turkish Statistical Institute reported on Monday. The annualized inflation rate fell to 6.81 percent in July from 7.2 percent in June. The Consumer Price Index saw a 0.39 percentage point decline in July from June. In July, the highest monthly increase was…

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August 03, 2015

China holds sway in new 'scramble for Africa': Experts

In recent years, China has emerged as the largest commercial investor in Africa, taking advantage of its massive economic expansion to impose its political…
August 03, 2015

Port of Aden to reopen after being damaged in Yemen war

 The Port of Aden in southern Yemen is back in business just days after the Yemeni government announced the recapture of the city from Houthi militants and…
August 03, 2015

Dutch media promotes 'safe, peaceful holidays' in Turkey

Two Dutch reporters have dispeled the notion that Turkey is not fit for foreign tourists in the aftermath of recent violent incidents in the country. The…
August 03, 2015

Greek stock exchange reopens, drops one quarter in value

The Greek stock exchange re-opened with a one-quarter average decline on Monday. The exchange had been closed for five weeks as part of the capital controls…
August 03, 2015

Turkey: Inflation drops sharply in July

Inflation in Turkey dropped for the second month in July, the Turkish Statistical Institute reported on Monday. The annualized inflation rate fell to 6.81…

Turkish lira stays course in volatile global economy

August 03, 2015 in Finance
The Turkish lira is set to stay its course despite global economic headwinds, analysts told Anadolu Agency on Friday. “It now seems clear that Turkey will not…

Erdogan wants Turkey in ASEAN

July 31, 2015 in Finance
President Recep Tayyip Erdogan told media during a three-day trip to Indonesia on Friday that he wanted Turkey to join his host country as a member of the…

Erdogan: Daesh actions bear no relation to Turkey

July 31, 2015 in Finance
Turkish President Recep Tayyip Erdogan said on Friday that Daesh’s actions bear no relation to Turkey's "religion, morality, conscience or culture". Erdogan,…

Germany seeks splitting powers of EU commission

July 31, 2015 in Finance
Germany has not denied on Friday reports that it is seeking reform on the competences of the European Commission, but claimed that its ideas do not intend the…

Erdogan: Turkey wants to become ASEAN member

July 31, 2015 in Finance
President Recep Tayyip Erdogan told media during a three-day trip to Indonesia on Friday that Turkey was ready to become a member of the Association of…

Chaos as Rome airport affected by forest fire

July 31, 2015 in Finance
A woodland fire caused hours of delays for hundreds of passengers at Rome’s Leonardo da Vinci Airport on Friday, coinciding with the peak holiday rush and the…

Probe into Malaysia state fund frozen till October

July 31, 2015 in Finance
A Public Accounts Committee (PAC) probe into debt-ridden 1Malaysia Development Bhd (1MDB) is to be halted until October when the ruling coalition nominates…

Russian Min.: Turkey, Russia agree on discount for gas

July 31, 2015 in Finance
Russian energy giant Gazprom and Turkey's state-owned pipeline corporation BOTAS agreed on a 10.25 percent discount on gas deliveries, Russian Energy Minister…

Erdogan: Daesh actions bear no relation to Turkey in any way

July 31, 2015 in Finance
Turkish President Recep Tayyip Erdogan said Friday that Daesh’s actions bear no relation to Turkey's "religion, morality, conscience or culture". Erdogan,…

Major obstacles stand in way of 'Turkish Stream'

July 31, 2015 in Finance
Major obstacles stand in the way of an intergovernmental agreement between Turkey and Russia for the so called ‘Turkish Stream’ natural gas pipeline project.…

Tsipras wins political victory in support for bailout deal

July 31, 2015 in Finance
Greek Prime Minister Alexis Tsipras won an important political victory on Thursday, one that indicated SYRIZA party support for the bailout deal his government…

Brazil records worst deficit in nearly 2 decades

July 31, 2015 in Finance
The government registered a primary deficit of $470 million (1.6 billion real) in the first half of 2015, according to figures from the National Treasury on…

Erdogan wants Turkey/China trade imbalance tackled

July 30, 2015 in Finance
President Tayyip Erdogan has underlined during a visit to Beijing that even though China is Turkey's third biggest trade partner, Ankara has a long way to go…

Turkey seeks more local components for 4G tender

July 30, 2015 in Finance
The specifications for the tender on August 26 for Turkey's 4G mobile network services and infrastructure have been changed to include a greater amount of…

Air Madagascar strike wreaks havoc on economy

July 30, 2015 in Finance
Tourist season in Madagascar is reeling from the impact of a strike by Air Madagascar workers that lasted for nearly one month. The strike, which ended on July…

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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