Finance

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

Finance

Turkish Deputy Prime Minister for the Economy, Ali Babacan 40th Anniversary Celebration and the 39th Annual Meeting of the Board of Governors of the Islamic Development Bank Turkish Deputy PM for economy Ali Babacan says difficult situations are the best times to do necessary but difficult reforms.



"Countries are going through big challenges, but the challenges also mean opportunities to do necessary reforms," Turkish Deputy Prime Minister for the Economy, Ali Babacan, has said.

His comments came in a speech on Wednesday at the meeting of the 40th Anniversary... Add a comment

Finance

Turkey demands part in EU, US free trade talksAnkara could pull out of Customs Union Agreement with EU if trade deal with US goes ahead without Turkey, warns Economy Minister Zeybekci.

Turkish Economy Minister Nihat Zeybekci was warned it may pull out of a customs agreement with the European Union if the bloc finalizes Transatlantic Trade and Investment Partnership talks without Ankara.

Zeybekci's comments on Wednesday came as the EU... Add a comment

Finance

Economists predict further interest rate cuts in TurkeySenior economists antcipate further interest rate cuts from Turkey's Central Bank to follow a 0.75 percent cut earlier this week.

Senior economic experts said Wednesday that further interest rate cuts from Turkey's Central Bank should be expected, following a cut earlier this week and government backing for a reduction.

The bank slashed interest rates by 0.75 percent – more than... Add a comment
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