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Fitch forecasts Turkey to remain on solid growth path

Thursday, May 26, 2016 Finance
International ratings agency Fitch forecasted the Turkish economy to remain on a growth path over 3 percent both this and next year in a report released Thursday.The agency’s 'Global Economic Outlook – May 2016' report predicts the Turkish economy will expand at a rate of 3.5 percent this year and 3.6 percent next…

Putin: Russia needs new resources to avoid slump

Thursday, May 26, 2016 Finance
Russia's President Vladimir Putin said the nation must "find new resources" to avoid an economic slump in the country as well as flat economic growth.During a meeting with an economic council in Moscow late Wednesday, Putin warned that unless "new economic resources" are found, economic growth in the country will stay…

Islamic bank, Turkish Airlines sign cooperation deal

Thursday, May 26, 2016 Finance
ANKARA The Islamic Development Bank (IsDB) and Turkish Airlines (THY) signed an agreement for enhanced cooperation among 56 Islamic countries Wednesday. The agreement, a Memorandum of Understanding (MoU), will enable Turkish Airlines, Turkey's national flag carrier, to provide aviation training to the bank's member…

US tops list of Turkish baklava importers

Thursday, May 26, 2016 Finance
ANKARA Turkish exports of the country’s traditional dessert, the baklava, have reached $20 million of value in the last five years, according to the Turkish Statistics Institute. Baklavas were exported to six continents, 48 countries, according to figures released Wednesday from the Turkish Statistics Institute, with…

City of London lord mayor lauds growing Turkish economy

Thursday, May 26, 2016 Finance
LONDONAlderman Jeffrey Mountevans, the Lord Mayor of the City of London, lauded Turkey’s rapidly growing economy, saying it has created a host of opportunities in the region.“Turkey is a very important regional player. The most rapidly growing economy in that part of the world, indeed, internationally, it has a…

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May 26, 2016

Fitch forecasts Turkey to remain on solid growth path

International ratings agency Fitch forecasted the Turkish economy to remain on a growth path over 3 percent both this and next year in a report released…
May 26, 2016

Putin: Russia needs new resources to avoid slump

Russia's President Vladimir Putin said the nation must "find new resources" to avoid an economic slump in the country as well as flat economic growth.During a…
May 26, 2016

Islamic bank, Turkish Airlines sign cooperation deal

ANKARA The Islamic Development Bank (IsDB) and Turkish Airlines (THY) signed an agreement for enhanced cooperation among 56 Islamic countries Wednesday. The…
May 26, 2016

US tops list of Turkish baklava importers

ANKARA Turkish exports of the country’s traditional dessert, the baklava, have reached $20 million of value in the last five years, according to the Turkish…
May 26, 2016

City of London lord mayor lauds growing Turkish economy

LONDONAlderman Jeffrey Mountevans, the Lord Mayor of the City of London, lauded Turkey’s rapidly growing economy, saying it has created a host of opportunities…

Eurogroup unlocks billions in new Greek loan

May 25, 2016 in Finance
By Magda PanoutsopoulouATHENS A marathon Eurogroup meeting has resulted in the unlocking of a next loan installment to Greece, netting the country a total of…

Wall Street rallies with oil prices rise, positive data

May 25, 2016 in Finance
Wall Street posted massive gains Tuesday with a rise in oil prices and jump in new home sales in April. The Dow Jones soared 213 points to end the day at…

Russians’ average salary down 34 pct in 2015: report

May 25, 2016 in Finance
The average monthly salary in Russia fell by over-one third in 2015, according to a report published Tuesday.A weakened ruble against the U.S. dollar caused…

Turkish central bank continues rate cuts

May 25, 2016 in Finance
The Turkish Central Bank on Wednesday cut its overnight lending rate by 50 basis points on Tuesday following recent cuts in the past two months and left other…

Turkey: House sales down in April

May 25, 2016 in Finance
House sales in Turkey have slipped in April, the Turkish Statistical Institute said in its report Tuesday.House sales went down 10.9 percent year-on-year in…

Simsek to remain in economy team of new Turkish cabinet

May 24, 2016 in Finance
Deputy Prime Minister Mehmet Simsek will continue to be part of the economy team in the 65th government, according to sources from Turkey's Prime Ministry.The…

Support for EU reaches new heights in UK

May 24, 2016 in Finance
Support for Britain’s EU membership is at its highest level since the start of Brexit referendum campaign, a new opinion poll has found. The Remain camp has a…

Turkey: Bank Asya sale tender set for June 24

May 24, 2016 in Finance
Turkey's Deposit Insurance Fund (TMSF) will put Islamic lender Bank Asya out to tender on June 24, a notice in Turkey’s official gazette said Tuesday.The…

European Investment Bank ‘ready to do more’ for refugees

May 24, 2016 in Finance
By Tuncay Kayaoglu ISTANBULThe European Investment Bank (EIB) - the EU bank - said it was ready to do more for the refugee crisis that has engulfed the Middle…

Turkish consumer confidence up in May

May 24, 2016 in Finance
Turkey’s consumer confidence index was up 0.4 percent in May from the previous month, the Turkish Statistics Institute said on Monday.The consumer confidence…

Young jobless Greeks form 'lost generation'

May 23, 2016 in Finance
By Vasiliki MitsiniotouATHENSMore than 4 million young Europeans are jobless and not enough is being done to help what is becoming a lost generation, experts…

Greek parliament adopts reform bill for bailout money

May 23, 2016 in Finance
By Magda Panoutsopoulou ATHENS The Greek parliament has passed Sunday another controversial bill that includes extra tax hikes and reforms demanded by the…

Greece's tax reform vote to pile pressure on government

May 23, 2016 in Finance
By Magda PanoutsopoulouATHENSGreek MPs will vote Sunday on a new bill that will include extra tax hikes and reforms as demanded by Greece’s international…

Turkish envoy calls on businessmen to invest in Ukraine

May 23, 2016 in Finance
Turkey’s ambassador to Kiev called on Turkish businessmen to invest in western Ukraine Tuesday.In remarks made at the opening of the International Turkish…

Aging Europe overlooks economic potential of refugees

May 23, 2016 in Finance
By Gokhan Kurtaran and Tayfun SalcıLONDON Despite reports from international institutions and remarks from top officials predicting that refugees would likely…

Euro zone sets emergency summit on Greece as money flees

Euro zone sets emergency summit on Greece as money fleesEuro zone leaders will hold an emergency summit on June 22 to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.

Finance ministers of the 19-nation currency bloc failed to make any breakthrough on a cash-for-reforms agreement at talks in Luxembourg on June 18, just 12... Add a comment

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Greece, Russia sign memorandum on gas pipe to Greece

Greece, Russia sign memorandum on gas pipe to GreeceRussia and Greece on June 19 signed a preliminary agreement to set up a joint venture to build a pipeline through Greece, Moscow said.

“This is the start of a large investment project in Greece that is beneficial to the country’s economy,” Russian energy minister Alexander Novak said at the signing ceremony on the sidelines of the Saint Petersburg International Economic Forum, quoted... Add a comment

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Nearly 1M people became millionaires in 2014

Nearly 1M people became millionaires in 2014The number of people worth $1 million or more rose by 920,000 last year, hitting a record 14.6 million. It was the sixth straight year-on-year increase as rising stock prices lifted the value of personal wealth in a few key countries, according to a report from consultant Capgemini and RBC Wealth Management.

The wealth held by millionaires globally also rose to a record $56 trillion... Add a comment

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Saudi Tadawul's inclusion in MSCI won't affect Turkey

Saudi Tadawul's inclusion in MSCI won't affect TurkeyExperts agree that the entry of Saudi stock market Tadawul to MSCI EM index would have little effect on Turkish stocks.

The Turkish stock market will not be hurt if Saudi Arabia's stock exchange is included in Morgan Stanley Capital International's (MSCI) Emerging Market (EM) index, experts said Thursday.

MSCI is a stock market index used by many funds and investment vehicles... Add a comment

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Russian bank to lend $570 million for new Turkish airport

Russian bank to lend $570 million for new Turkish airportSberbank agrees to lend funds for Istanbul's new international airport.

The Turkish company building Istanbul's new international airport said on Thursday that it had signed a Memorandum of intention with Russia's largest bank Sberbank for its financing.

A fund of 500 million euros ($570 million) will be available to construction company IGA Havalimani Isletmesi A.S., via Turkey’s... Add a comment

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Greek default would hurt emerging markets, analysts say

Greek default would hurt emerging markets, analysts sayFailure to reach a bailout agreement for Greece on Thursday could create headwinds for developing economies, experts say.

Should Greece default, emerging market economies are expected to face severe headwinds, experts told Anadolu Agency on Thursday.

The Greek government and the Eurogroup meet on Thursday in what is expected to be a last chance to avoid Athens’ default on its loan... Add a comment

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Turkey spends $2 billion on R&D in 2014

Turkey spends $2 billion on R&D in 2014Total R&D spend, including private sector, increased 13.4 percent to 14.8 billion Turkish liras in 2013 year on year.

The Turkish government spent slightly less on research and development last year compared with the previous year, according to a report from the Turkish Statistical Institute on Thursday.

Allocation to R&D fell 3.73 percent to $2 billion, the report said.

The amount was... Add a comment

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Turkey debuts pommegranate-themed pavilion in Expo Milano

Expo MilanoProject represents 'diversity within unity' and fertility as response to world's future needs for safe and sufficient nutrition.

Turkey is promoting a pavilion that marries traditional values with modern design elements as the country’s showcase in Expo Milano 2015, where participators seek environmentally respectful answers to the question of how to guarantee healthy food for everyone in... Add a comment

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Room rental service Airbnb valued at $24 billion

Room rental service Airbnb valued at $24 billionNew round of funding shows tech company worth more than Marriott, Expedia.

Home-rental platform Airbnb is raising $1 billion in funding off an exorbitant valuation of $24 billion, according to investors speaking to The Wall Street Journal in a report published Wednesday.

This valuation would hurtle the San Francisco-based service to the top of the hospitality industry. The hotel chain... Add a comment

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US: Fed holds rates, hints at end-of-year hike

US: Fed holds rates, hints at end-of-year hikeFed says it will assess progress toward maximum employment and 2 percent inflation.

The U.S. Federal Reserve said in a statement on Wednesday that it would not raise interest rates at this time.

"The current 0 to 1/4 percent target range for the federal funds rate remains appropriate," the central bank said.

"In determining how long to maintain this target range, the Committee will assess... Add a comment

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