Finance

Development Bank of Turkey, Deputy General Manager, Metin Pehlivan stated that resources and attractive financing choices in terms of Turkey’s development banking in 2013 and later will increase. Pehlivan also added that the profit of the bank increased 84% in 2012. Development Bank of Turkey announced 2012 results of activity. 

In the written statement that Metin Pehlivan made... Add a comment

Finance

According to the report of Ernst & Young, Islamic banking assets had reached 1.3 trillion dollars; while in 2014, they are expected to reach 2 trillion dollars in 2014. International consultancy agency Ernst & Young prepared Global Islamic Banking Competitiveness Report and according to this, global Islamic banking assets expanded 19%.Islamic banking assets are expected to reach 1.8... Add a comment

Finance

Consumer Price Index (CPI) in February decreased 0.30%; and Producer Price Index (PPI) decreased 0.13% in Turkey, in accordance with the expectations. Inflation in January had already been over the expectations; while it decreased in February in accordance with the expectations. Turkish Statistical Institute announced February data of inflation. 

Monthly inflation on the basis of CPI... Add a comment

Finance

Compliment from IMF to Turkey: Macro economical basis is lasting, at IMF, Turkey’s act will grow. It is explained that Turkish debt to IMF will be ended in May, and after this explanation, all eyes turned on IMF and Turkey’s future. IMF Turkey Director, Lewis told that after Turkey finishes debt to IMF, Turkey’s act and activity will gradually increase in 2 years.

Lewis indicated... Add a comment

Finance

Consumer confidence index of Turkey increased 1.2% in February, compared to the month before, and it reached 76.7. Turkish Statistical Institue published Consumer Confidence Index organized by the cooperation of Turkish Central Bank. According to this, Consumer Confidence Index increased 1.2% in February compared to the month before. While the index was 75.8 in January, it increased to 76.7... Add a comment

Finance

World Bank Turkey Head Economist, Marina Wes stressed regarding “gas or brake” discussions of growth rate of Turkey that structural reforms should be accelerated during the upcoming period. Wes added that Turkey needs to strengthen the wings of the plane in order to fly faster. 

Wes also stated that they view it positively that Turkish economy’s success in re-balancing is... Add a comment

Finance

Real sector confidence index increased 5.4 points in February compared to the month before and reached 107.5. When the diffusion indexes that belong to the survey questions forming the real sector confidence index, it is seen that while the export order amount in the coming 3 months, total employment in the coming 3 months, current total order amount, current production goods amount, and... Add a comment

Finance

Turkish Minister of Development, Cevdet Yilmaz evaluated 3x5 formula of the Central Bank of Turkey. The Minister of Development, Cevdet Yilmaz stated that ready-made formulas are not welcome; and conjuncture should be followed, regarding 3x5 formula of the Turkish Central Bank including 5% growth, inflation and current deficit.

He stated that the Central Bank cannot define the growth... Add a comment

Finance

Wall Street Journal (WSJ) pointed out that the worries of the Central Bank of Turkey regarding Lira has got intense since the rating increase of Fitch; saying that the fast value increase of Turkish Lira might also enlarge current deficit. It is interpreted as a move towards stopping the rise of Lira that The Central Bank of Turkish Republic decreased overnight interest rates.

Wall Street... Add a comment

Finance

Turkish Central Bank decreased overnight interest rates in debt from 4.75% to 4.50%; and in loaning, from 8.75% to 8.50%.

According to the announcement regarding the interest rates; the Monetary Committee got together in the leadership of President of the Bank, Erdem Basci.

The committee also defined the interest rates with repo tender interest rates and interest rates in Repo-Reverse... Add a comment