Finance

Finance

Turkish defense industry’s exports nearly $800 mlnTurkish defense industry’s exports increased by 14 percent in the first half of 2014 compared to the same period of the last year. Exports reached to $779 million 267 thousand. 

The U.S. was the largest purchaser of Turkish defense hardware, UAE and Italy followed the U.S. 

According to the data of Turkish Exporters’ Assembly, the growth of Turkish defense and aerospace industry... Add a comment

Finance

World Bank approves $400m for Turkey's gas storageThe World Bank announced $400 million of additional financing for the first gas storage facility in Turkey's underground salt formation.

The $400 million will be given to Turkey to be paid back over 16 years. After an eight-year grace period, the loan will finance the running of a gas storage facility at Tuz Golu (Salt Lake) - one of the largest hypersaline lakes in the world, and the second... Add a comment

Finance

Turkey’s June inflation rate surprisedTurkish Statistical Institute (TurkStat) announced the Consumer Price Index (CPI) June 2014. According to that, CPI increased by 0.31 in June 2014 compared to the previous month. Expectation was 0.03 percent decrease. 

A rise in general index was realized in CPI on the previous month by 0.31 percent, on December of the previous year by 5.70 percent, on same month of the previous year by... Add a comment

Finance

Turkey's Central Bank: limiting consumption rebalances economyTurkey's CB says limiting excessive consumption, the current growth composition of loans not only curbed inflation but also supported rebalancing economy.

Turkey's central bank said on Tuesday that limiting excessive consumption in the country not only helps curb inflation, but also supports rebalancing the economy.

Exports have contributed positively to economic growth as a result of the... Add a comment

Finance

Turkey's external debt growth outpaces its GDPTurkey’s overall external debt to gross domestic product kept increasing in first quarter of 2014, suggesting debt is growing faster than GDP.

Turkey's overall external debt to Gross Domestic Product ratio increased slightly to 48 percent in first quarter of 2014, extending the upward trend seen first in 2011, according to official data released Monday.

According to a report released by... Add a comment

Finance

Turkey's foreign trade deficit shrinks fifth time in a rowTurkey’s exports increased by 3.6 percent and reached to $13 billion 750 million compared to the same month of the last year, while imports decreasing by 10.3 percent to $20 billion 859 million. 

Turkish Statistical Institute (TurkStat) announced the ‘Foreign Trade Statistics, May 2014’.  According to that, exports increased by 3.6 percent and reached to $13 billion 750 million. In... Add a comment

Finance

Fortune 500 Turkey announcedTurkey’s largest 500 non-financial companies’ net profit decreased by 13.2 percent due to exchange rate and interests. Six of the largest 10 companies do business in oil and energy sectors. 

According to the Fortune 500 list that is based on net sales of non-financial companies, Turkey’s largest 500 companies net profit in 2013, decreased by 13.2 due to negative effect of exchange... Add a comment

Finance

Premium production of Turkish insurance sector exceeds 10bn TLTurkish insurance sector’s total premium production increased by 5.6 compared to the last year and reached to 11,2 billion TL in the first five months of the year. 

According to the data of Insurance Association of Turkey, total premium production of Turkish insurance sector was 10 billion 626 million 457 thousand liras in the first five months of 2013. It increased by 5.6 percent and... Add a comment

Finance

Fifth Istanbul Finance Summit to begin on Sep 15The Fifth Istanbul Finance Summit will run from September 15 to 16 in Istanbul.

The Fifth Istanbul Finance Summit (IFS14), which has become an international event, will run from September 15 to 16 in Istanbul.

The fifth annual conference of the Istanbul Finance Summit (IFS) will play host to leading representatives of global financial markets and senior executives from financial... Add a comment

Finance

Financing of Istanbul's third airport ‘to be done by September’A consortium of Turkish contractors, who will build Istanbul’s third airport, plan to complete a financing deal by September, said Nihat Özdemir, Chairman of Limak group, three weeks after a groundbreaking ceremony for the giant project. 

Speaking with reporters in Pristina, Kosovo, Özdemir said they expect to finalize financial packages for the airport – which is slated to be one of... Add a comment

Finance

Business group: Turkey is 'safe port' in the regionPresident of Turkish American Business Association Dereli said the latest developments in the region have not influenced negatively any investment, but strengthen transatlantic relations between Turkey and the US.

The head of a Turkish business group attempted Thursday to assure foreign investors that Turkey is a safe port in the region, referring to claims that the lastest developments in... Add a comment
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