Finance

Finance

Turkey CB governor cautious on interest rate cutGovernor of Turkey's central bank dismisses calls for emergency meeting on possible interest rate cut.

The governor of the Central Bank of Turkey on Monday dismissed calls for an emergency meeting to cut interest rates.

On Friday, Prime Minister Recep Tayyip Erdogan called on the central bank to cut interest rates, saying they must be decreased to stimulate the economy now that the... Add a comment

Finance

Turkey's economy minister optimistic about financesSunday's elections results show a more stable economic and political atmosphere in Turkey, Zeybekci says.

Turkey's financial condition is optimistic following the March 30 local elections, in which the ruling AK Party led in the polls, the country's Economy Minister. 

"We expect a stronger and less vulnerable monetary period ahead as the election results signaled stability both politically... Add a comment

Finance

Turkey Retains Bbb Fitch Credit RatingTurkey's economic management has improved, but economy remains volatile, says global credit rating agency.

Global ratings agency Fitch has affirmed Turkey's credit rating at BBB- and BBB respectively for any potential default on its long-term foreign and local currency debts.

Fitch said in a statement on Friday that Turkey's macroeconomic policy management had improved over time as the... Add a comment

Finance

KRG, Turkey insist on oil exportIraq's Kurdish Regional Government (KRG) will begin exporting its oil independently to Turkey, unless the KRG gets its share of revenues from the Baghdad government, a legal adviser has said.

Iraq's Kurdish Regional Government (KRG) will begin exporting its oil independently to Turkey, unless the KRG gets its share of revenues and sees its public officials' salaries paid within two months, a... Add a comment

Finance

Inflation in Turkey set to continue risingConsumer prices reached highest level for eight months in March with increase set to continue until summer, financial reports indicate.

Inflation in Turkey increased in March to its highest level over the past eight months and is expected to continue rising until June, according to reports from Turkey's statistical authority and central bank.

The Consumer Price Index rose by 1.13 percent in... Add a comment

Finance

Gul hopes to reinforce Turkey-Kuwait relationsTurkey's President Abdullah Gul says a company project between Kuwait and Turkey will firm ties between the two countries.

Turkey’s President Abdullah Gul visited Kuwait on Wednesday to celebrate the construction of a Turkish company’s project called ‘’Small Boat Harbor’’.

“Small Boat Harbor” is a project to build harbors in Kuwait by Turkish company STFA with Kuwait Oil... Add a comment

Finance

Turkey's defense industry exports up this yearTurkish defense industry exports increased by 20 percent in January March period reaching US$322 million, according to a national association of exporters.

Turkey's defense exports for the first quarter of this year are valued at US$322 million, a 20 percent increase on the same period last year, according to figures from the Turkish Exporters' Assembly (TIM).

The U.S. was the largest... Add a comment

Finance

Slight drop in Turkey's crude steel output in Jan-Feb 2014Crude steel production in Turkey totalled 5.5 million tonnes for January-February period of this year.

Crude steel production in Turkey declined 0.1 percent in the January-February period this year with a total of 5.5 million tonnes.

According to data from the Turkish Steel Producers' Association, Turkey’s crude steel production for February 2014 was 2.7 million tonnes, up by 0.7 percent... Add a comment

Finance

Turkey's exports increased 4.3 percent in March 2014Turkish Exporters' Assembly says exports increased 4.3 percent hitting $13.14 billion.

Turkey's exports increased by 4.3 percent in March compared to the previous year, to $13.14 billion, the Turkish Exporters' Assembly (TIM) announced Tuesday.

The automobile industry contributed the most to Turkey's exports with $2.12 billion. 

The country's exports were $12.1 billion in February and $12... Add a comment

Finance

Turkey’s foreign trade deficit decreases by 27% in FebruaryAccording to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in February 2014; exports were $13 billion 150 Million with a 6.2 percent increase and imports were $18 billion 250 million with a 5.9 percent decrease compared with February 2013.

 Foreign trade deficit decreased by 27.2 percent

In the same month... Add a comment

Finance

S&P: Turkish banks can withstand moderate volatilityStandard & Poor's says Turkish banks are now better placed overall to withstand expected asset quality pressures given their adequate provision and capital buffers.

Turkish banks are now better placed overall to withstand expected asset quality pressures given their adequate provision and capital buffers, according to U.S.-based credit rating agency Standard & Poor's (S&P) on... Add a comment
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