Finance

Finance

Syrian businessmen boost investments in TurkeySyrian entrepreneurs have been ranked first in foreign investments made in Turkey, according to official numbers.

Syria has emerged as the primary foreign investor group in Turkey through the establishment of limited liability companies, according to new official numbers.

Syrians lead foreign investment in 2014 with 585 companies out of 2,331 according to data from the Union of Chambers and... Add a comment

Finance

Hisarciklioglu named as Turkey's G20 business leaderThe president of the Union of Chambers and Commodity Exchanges of Turkey has been named the business leader for the G20 summit in Turkey next year.

Rifat Hisarciklioglu will head Turkey B20, which brings together business people to work with the government on th G20 policy agenda for 2015, according to a statement from the Turkish Treasury.

The B20 is a key business advisory body that... Add a comment

Finance

Turkey gets first place on IMF boardA senior official from the Treasury has been appointed as an executive director.

Turkey has won a place on the executive board of the International Monetary Fund for the first time.

Ibrahim Canakci, undersecretary at the Turkish Treasury, was named an executive director, a statement from Turkey's Deputy Prime Minister's office said on Thursday.

The decision follows recent reforms to the... Add a comment

Finance

Turkey's external liabilities up in 2014Turkey's liabilities abroad increased by 5.7 percent compared to the end of 2013 at the end of May, reaching $650.7 billion.

A statement released by the Central Bank of Turkey on Friday said the country's assets did not change in the month, staying at $225.5 billion, according to International Investment Position figures. 

The net international investment position -- the gap between... Add a comment

Finance

Turkey's Cb reduces interest rate againTurkish central bank on Thursday cut its benchmark interest rate for the third straight month to boost economic growth.

The Turkish central bank cut its benchmark interest rate from 8.75 to 8.25 percent for the third straight month on Thursday to boost economic growth amid mounting political pressure for a looser monetary policy.

The Monetary Policy Committee, which decides on interest... Add a comment

Finance

Turkey's central budget deficit better than forecastsGoverment budget deficit stands at 10 percent of year end estimations in the first half of 2014.

Turkey's central government budget has run a $1.6 billion deficit in the first half of 2014, a favorable figure in the light of the year-end estimations, a cabinet minister said on Tuesday.

Finance Minister Mehmet Simsek told a press conference in Ankara that the government budget deficit of... Add a comment

Finance

Deloitte upgrades Turkey’s 2014 growth outlookDeloitte increases its growth outlook for Turkey above previous estimates

Deloitte, one of the "Big Four" professional services firms, has upgraded Turkey’s growth estimates following a robust first quarter and a shrinking deficit.

It upgraded the estimate for year-end growth from between 2 and 2.5 percent to 3.5 percent.

Deloitte Turkey economist Murat Ucer said Turkey’s 4.3 percent... Add a comment

Finance

Turkey's unemployment rate at 9 percent in AprilThe number of people out of work in Turkey by 168,000 in April to 2.57 million, same level as end of last year.

The number of people out of work in Turkey has fallen by 168,000 in April to 2.57 million, the same level as at the end of last year, official figures show.

The unemployment rate now stands at 9 percent of the adult working population, the country's statistics agency, TurkStat... Add a comment

Finance

Turkey's treasury auctions bonds to reduce debtsA total of 4.7 billion Turkish liras ($2.2 billion) released in auctions to cut domestic debt.

Turkey's Treasury has held two bond auctions worth 4.7 billion Turkish liras ($2.2 billion).

The auction on Monday came as the Treasury continued with plans to pay back 44.2 billion Turkish liras ($21 billion) of domestic debt for the period from July to September 2014.

The Treasury said in a... Add a comment

Finance

Turkey: Trade survey foresees fall in exportsAccording to the Foreign Trade Expectations Survey by Ministry of Economy, export expectation index decreased by 3 points to 113.7 from 116.7 for the third quarter of 2014, while import expectation index increased by 6.2 point to 11.3 compared to the previous quarter.  

Import expectation index sees a 6.2 point increase, according to a survey conducted by Economy Ministry.

Turkey's export... Add a comment

Finance

Turkey's privatization revenue $1.6 billion this yearTurkey has earned $1.6 billion from 116 privatization tenders so far this year.

The total amount of completed privatization processes in first half of 2014 exceeded $1.6 billion, official data shows.

According to data collected from Privatization Administration, Turkey earned more than $1.2 billion from 116 privatization tenders so far this year.

The largest privatization of this year was... Add a comment
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