Finance

Finance

Turkey eases Syrian refugees entry into formal economySyrian refugee: “Syrians brought dynamism to trade here in Gaziantep”

Gaziantep, a southeastern city that is hosting one of the largest Syrian refugee populations in Turkey, is taking measures to facilitate the refugees' entry into the formal economy, the mayor of the city said.

The city, which is accommodating more than 200,000 refugees, has prepared a program to draw Syrians living... Add a comment

Finance

Turkey sets to become a global hub center for angel investingThe number of people who obtain the angel investor license from Treasury Department of Turkey at the end of the June has become 259, increasing at a rate of 56 percent compared with the last year.

The recent global economic crises have led to significant changes in financial lending patterns, with banks now showing a reluctance to issue loans for new business start-ups. This pattern has been... Add a comment

Finance

Turkish business world backs boycott of Israeli goodsA worldwide boycott could alter the Israeli economy, enterpreneurs told Anadolu Agency.

Turkish enterpreneurs are backing a boycott of Israeli goods in response to Israel's recent military attack on Gaza which killed 815 Palestinians on Friday's count.

A worldwide boycott can affect the Israeli economy, entrepreneurs from the Anatolian Businesspersons' Association and Istanbul Commodity... Add a comment

Finance

Turkish Central Bank: Inflation at 7.6% for 2014Turkey's Central Bank estimates inflation in 2014 will be between 6.7 and 8.5 percent.

Turkey's Central Bank on Thursday has kept its inflation forecast in 2014 to a mid-point of 7.6 percent, and the 2015 inflation forecast at the mid-point of 5 percent.

At a news conference announcing the bank's quarterly inflation report in the capital Ankara, the bank governer Erdem Basci said "Inflation... Add a comment

Finance

Turkey's sectoral confidence indexes send mixed signalsConfidence Index for retail trade sector rose while service and construction sectors fell In July.

Retail trade sector confidence index in July rose suggesting optimism among retail trade investors while the service and construction sectors fell, Turkey's statistical authority said on Thursday.

Sectoral confidence indexes show managers' perception on the economic climate to determine if... Add a comment

Finance

Turkey confident of four percent growthThe European recovery has boosted Turkish exports and helped keep growth on target.

Turkey's growth is estimated to be four percent by the end of the year, in line with medium-term targets, Deputy Prime Minister Ali Babacan has said.

During a TV interview on Wednesday, Babacan said foreign demand was the most important element affecting growth.

"The measures we took gave results earlier... Add a comment

Finance

World Bank launches Islam-compatible financeWorld Bank will provide finance for small and medium sized companies in Turkey through its Innovative Access to Finance Project.

The World Bank is to provide a loan of $250 million specifically for Turkish businesses that choose to be funded through loans compatible with Islamic values.

The Innovative Access to Finance Project will also apply to Muslim businesses in Egypt, according to a... Add a comment

Finance

‘Second Top 500’ Turkish companies’ profits plunge due rising debtTurkey’s second top 500 industrial companies, which rank among the country’s largest 501 to 1,000 firms, have suffered from growing debt and low profitability in 2013, as shown July 22 by an Istanbul Chamber of Industry (İSO) study. 

The drop has affected the second-tier companies to a more severe extent than their larger counterparts the İSO report also showed.

Despite a 13.4... Add a comment

Finance

Chinese Yuan to be world's third currency by 2020'The Yuan will be the world's third largest currency after the U.S. dollar and euro, a Chinese report predicts.

The Chinese yuan will become the world's third largest currency, after the dollar and the euro, within six years, it is predicted.

The claim came in report from the International Monetary Institute of Renmin University in China and China's Bank of Communications released on... Add a comment

Finance

Turkiye Finans raises $252 mln from first sukuk issuance in Malaysia 

Turkish lender Turkiye Finans Katilim Bankasi has raised 800 million ringgit ($252.21 million) from an Islamic bond in Malaysia, its first issuance from a 3 billion ringgit programme announced last month.

The issuance by Turkiye Finans, in which Saudi Arabia's National Commercial Bank is the largest shareholder, is the first ringgit-sukuk done in Malaysia by a Turkish issuer.

Proceeds... Add a comment

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
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