Finance

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

Finance

Soaring funding costs mar Turkish industryEscalating financing costs stemmed from high interest rates and weak lira hit Turkey’s largest industrialists, according an annual top 500 industrial company list, which unveiled pressure on the firms.

Turkey’s largest industrialists’ falling profitability and mounting financing pressure on companies last year marked the top 500 industrial company study released by the Istanbul Chamber... Add a comment

Finance

Turkey attracts $12.9 bln foreign investment in 2013Turkey ranked 22nd on foreign direct investment inflow in 2013, says World Investment Report.

Turkey ranked 22nd in the world on foreign direct investment inflow in 2013, attracting around US$12.9 billion, revealed the World Investment Report on Tuesday.

The country also ranked 11th in developing countries, according to the report announced by United Nations Conference on Trade and... Add a comment

Finance

World Bank upgrades Turkish growth estimate to 3.5%The bank revised its June outlook after high exports and sustained government demand produced 4.3% growth in the first quarter of 2014.

The World Bank on Monday pointed to Turkey's high exports and sustained government demand when upgrading the country's growth rate forecast to 3.5 percent.

The up-to-date revision dismissed the World Bank's previous trimming of Turkey's growth expectation... Add a comment

Finance

Turkey cuts main interest rate, resists pressure for sharp moveTurkey's central bank cut its main interest rate on Tuesday, citing an improvement in global liquidity conditions, but stopped short of the sharp cuts sought by Prime Minister Tayyip Erdogan ahead of an election in August.

The bank cut its one-week repo rate by 75 basis points to 8.75 percent and said it expected inflation to begin falling significantly this month, partly due to base... Add a comment

Finance

Turkey’s biggest companies announcedIstanbul Chamber of Industry has announced the ‘Turkey’s Top 500 Industrial Enterprises’. According to that, Turkey’s largest company is Tüpraş like last year. 

While Tupras ranked as first with 39.7 billion TL, Ford Otomotiv has been second with 9.7 billion TL, Elektirik Üretim A.Ş. has been third with 9.2 billion TL. 

Oyak Renault has been fourth in the list with 8.6 billion... Add a comment

Finance

Number of Turkish businesses increasesTurkey had 2.6 million active enterprises in 2012, an increase of more than two percent on previous year.

More than 2.6 million businesses were active in Turkey in 2012, a rise of 2.11 percent on the preceding year, according to the country's statistics authority.

TurkStat said Monday in a report on "the Annual Industry and Service Statistics 2012" that 2,646,153 enterprises were running in... Add a comment

Finance

Faizler hızlı düşerse tüketim de artarTurkey's Minister of Finance Mehmet Şimşek said on the interest debates that desiring an interest rate cut is right for more investment and employment. However, since the country has many problems there is a search for balancing all the other factors, he said.

Şimşek said rapid growth comes with excessive consumption however, "our prime minister does not favor that, either. He sometimes... Add a comment

Finance

Turkey’s steel exports to Iraq may shrinkThe security problem in northern Iraq that escalated with the terrorist Islamic State of Iraq and al-Sham's (ISIS) takeover of Mosul is worrying Turkish steel producers exporting goods to Iraq, and the current crisis is likely to strike a major blow to the Turkish steel industry. The percentage of exports to Iraq within total Turkish steel exports doubled during the period 2009 to 2013... Add a comment

Finance

Turkey exports almost $1 billion worth carpetTurkish carpet sector exported $945,3 million worth carpet in the first 5 months of the year. 

According to the data of Istanbul Textile and Apparel Exporter Associations, Turkey’s carpet export was $880 million 381 thousand between January-May period of last year, sector exported $945 million 349 thousand worth carpet at the same period of this year. Carpet export increased by 7.4... Add a comment
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