Finance

Finance

Turkey: stock market investors make most profit in JuneStocks were the most profitable investment in Turkey in both June and the second quarter, according to the country's statistical authority.

People who invested their money in stocks and shares in Borsa Istanbul, Turkey's main stock exchange, earned the most profit in June, Turkey's official statistics agency announced Tuesday.

June's stock exchange profit rates based on the Domestic... Add a comment

Finance

Turkey’s industrial production increases by 3.3 percent in MayTurkish Statistical Institute announced the Industrial Production Index for May 2014. According to that, Calendar adjusted industrial production increased by 3.3 percent compared to the same month of the last year. 

Index showed that, seasonally and calendar adjusted industrial production decreased by 1.0 percent compared with the previous month. 

In the sub sectors of the industry (based... Add a comment

Finance

Turkish banking assets up, profits down in MayTurkish banking sector's assets increased by 3.6 percent in May compared to the end of 2013 despite posting a drop of 11.5 percent in profit from May 2013, Turkey's official banking regulation agency announced Monday.

According to the temporary figures released by the Banking Regulation and Supervision Agency, BDDK, the size of assets reached 1.794 trillion Turkish liras ($840 billion) as of... Add a comment

Finance

IDB's infrastructure fund looks to build regional linksA new infrastructure fund from the Islamic Development Bank aims to help Gulf-based companies expand in Asia and Africa, developing stronger economic ties among these regions.

Jeddah-based IDB is keen to grow trade among its 56 member countries and fill a void left by other multilateral and private-sector financial institutions that have been slow to support such regional strategies.

The... Add a comment

Finance

Istanbul boosts national exports: Turkish Exporters' AssemblyTurkey's western province of Istanbul, the largest city in the country, is boosting national exports by providing nearly half of the country's foreign trade, according to the Turkish Exporters' Assembly.

Turkey's total exports stood at $80 billion in the first half of the year, with Istanbul - the country's economic, cultural, and historical heart - exporting $33.6 billion worth of goods to... Add a comment

Finance

Turkey progressing in battle against informal employmentProportion of unregistered workers in Turkey's economy has fallen by almost 20 percent in the last decade.

Turkey appears to be tackling its problem with informal employment, with significant reductions in the number of unregistered workers, the President of Turkey Social Security Institution said Wednesday. 

At a ceremony for new computer systems to be used for encouraging worker... Add a comment

Finance

Turkey chases EU standards on employment ratesEastern most province of Ardahan has reached EU standards with highest rate of labour force participation with 62.8 percent as well as some others in Turkey.

Turkey is striving to close the gap with EU standards in employment rates.

Employment and labor force participation rates have risen in some Turkish provinces. And some eastern provinces such as Kars and Igdir lead others, and achieve... Add a comment

Finance

Turkey delays missile defense decision until august 31Turkey’s procurement of a multi billion dollar long range air and missile defense system tender was extended for bids until August 31.

The procurement of a multi-billion dollar long-range air and missile defense system tender has been extended for bids until August 31, Turkey's Undersecretariat for the Defense Industry said on Thursday.

In a statement by the Undersecretariat, it stated if... Add a comment

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
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