Foreign interest in Turkish banking market to continue - UniCredit chief More foreign lenders are expected to enter Turkey’s lucrative banking market, according to Italian banking giant UniCredit’s CEO, Federico Ghizzoni.

In an interview given to CNBC-e, Ghizzoni said that Turkey was among the 3-4 markets in which UniCredit would grow. “More foreign banks will come knocking on Turkey’s door. Intesa Sanpaolo’s entry to the Turkish market is a welcome... Add a comment


Turkey's average per capita income 'exceeds $19k'Deputy PM Ali Babacan says average per capita income in Turkey has reached 60 percent of the EU and Japanese average level of prosperity.

Turkey's chief economist said on Tuesday that the country's average per capita income now exceeded $19,000 based on purchasing power parity, meaning the country had reached 60 percent of EU and Japanese average level of prosperity.

Turkey's Deputy Prime... Add a comment


Turkey’s Finance Minister: compliant taxpayers to be rewarded Compliant taxpayers in Turkey will be rewarded for regularly informing the state about their income and assets, while non-compliant citizens will face new sanctions as the Finance Ministry has completed a long-anticipated taxpayer evaluation scheme.

According to the draft scheme announced by Finance Minister Mehmet Şimşek, taxpayers who pay their taxes on a regular basis and on time –... Add a comment


Turkey, Japan set to open trade negotiations in earnestTwo countries complete technical phase of talks as they pursue drive to boost bilateral trade.

The technical stage of negotiations towards an economic partnership agreement between Turkey and Japan has been completed, Turkey's economy minister has said.

Nihat Zeybekci's comments Tuesday came after he participated in the Turkish-Japanese Business Forum in Istanbul with Japanese Trade... Add a comment


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


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


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


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


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


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


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
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