Finance

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

Finance

Moody’s & Fitch analyses superficial: Turkey's Fin. MinTop Turkish finance official defines analyses of international credit rating agencies 'superficial'.

Despite acknowledging warnings of Moody’s and Fitch's partially correct, Turkey's Finance Minister, Mehmet Simsek criticized international credit rating agencies for being superficial in their analyses.

The remarks came after Fitch defined Turkish corporates as the most exposed among EMEA... Add a comment

Finance

AA Finans A group of 13 economists interviewed by Anadolu Agency surveyed Turkey's foreign trade deficit for February 2014 producing an estimated figure of $6.63 billion.

The results of the survey, published four days before Turkey's statistics authority reveal that February's maximum foreign trade deficit is estimated at $7.40 billion, while the lowest estimate stands at $5.70 billion.

The... Add a comment

Finance

Moody’s expects economic resilience from TurkeyMoody's expects Turkey's fiscal policy to "absorb some of the shocks to the economy”.

International credit rating agency Moody's expects Turkey's fiscal policy to protect it from potential economic shocks, according to a report it released Tuesday. 

The report on the vulnerability of sovereign countries in Europe, Middle East and Africa, said that despite political turbulence and market... Add a comment

Finance

Turkish vote result may affect growth outlook -finance ministerTurkey could see risks to its growth forecasts this year if local election results on Sunday fail to produce a decisive win for the ruling party, Finance Minister Mehmet Simsek said in an interview.

The government could lower its 4 percent growth target for 2014 if the AK Party failed to get 40 percent of the vote in the nationwide local elections on Sunday, he said, roughly the level it saw... Add a comment

Finance

Iraq 'should make full use of Turkish oil pipeline'Turkish energy minister says Baghdad should use Kirkuk-Yumurtalik pipeline to its full capacity amid Kurdish oil dispute.

Iraq should make full use of the oil pipeline between the country and Turkey, said Turkish energy minister Taner Yildiz, as attempts to resolve a dispute between Baghdad and Irbil over the sale of Kurdish oil continue.

Yildiz's comments on Monday came as he visited the... Add a comment

Finance

Turkey ‘to re-negotiate’ Customs Union with EUTurkey will bring up the Customs Union deal for negotiation with the European Union by June, Economy Minister Nihat Zeybekçi has announced.

The move comes amid Ankara’s mounting frustration with the accord, particularly after Brussels recently kicked off the free trade deal process with Washington. 

“By June, we’re going to re-open for negotiation the Customs Union Agreement, to... Add a comment
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