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Turkey: Mixed picture for economic confidence

Tuesday, August 30, 2016 Finance
Confidence in the Turkish economy was lower month-on-month in August according to official data released on Monday.The economic confidence index was down 24.1 percent to 95.73 compared to last month, the Turkish Statistical Institute (TURKSTAT) said in a report.However, consumer confidence soared by 11 percent to…

OPEC export revenues lowest in more than a decade

Monday, August 29, 2016 Finance
NEW YORK Net oil export revenues of OPEC countries last year dropped to their lowest level in over a decade, the U.S. Energy Information Administration (EIA) said Friday. Due to low oil prices, OPEC members earned a total of $404 billion in net oil export revenues in 2015, the EIA estimates. It is the lowest level…

Case for US rate hike stronger, Fed chief says

Monday, August 29, 2016 Finance
By Ovunc KutluNEW YORK The Federal Reserve on Friday looked one step closer to raising its benchmark interest rate after encouraging remarks by chair Janet Yellen."In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in…

Bulldozers move in as Pakistan squeezes MQM party

Sunday, August 28, 2016 Finance
By Aamir LatifSecurity forces have demolished or shut over 200 offices belonging to a controversial Pakistani opposition party, detaining dozens of leaders and activists, officials and local media report.The crackdown began earlier this week after members of the Karachi-based Muttahida Qaumi Movement (MQM) stormed…

Canada to beef up UN peacekeeping missions

Saturday, August 27, 2016 Finance
By Barry EllsworthTRENTON, Ont.Canada said Friday it would dramatically increase its commitment to global peacekeeping missions with money and troops, Canadian media reported.At a press conference at a federal air base in Quebec, four senior government ministers said $450 million and up to 600 personnel will be…

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August 30, 2016

Turkey: Mixed picture for economic confidence

Confidence in the Turkish economy was lower month-on-month in August according to official data released on Monday.The economic confidence index was down 24.1…
August 29, 2016

OPEC export revenues lowest in more than a decade

NEW YORK Net oil export revenues of OPEC countries last year dropped to their lowest level in over a decade, the U.S. Energy Information Administration (EIA)…
August 29, 2016

Case for US rate hike stronger, Fed chief says

By Ovunc KutluNEW YORK The Federal Reserve on Friday looked one step closer to raising its benchmark interest rate after encouraging remarks by chair Janet…
August 28, 2016

Bulldozers move in as Pakistan squeezes MQM party

By Aamir LatifSecurity forces have demolished or shut over 200 offices belonging to a controversial Pakistani opposition party, detaining dozens of leaders and…
August 27, 2016

Canada to beef up UN peacekeeping missions

By Barry EllsworthTRENTON, Ont.Canada said Friday it would dramatically increase its commitment to global peacekeeping missions with money and troops, Canadian…

Turkey unveils 3rd Bosphorus bridge

August 26, 2016 in Finance
By Bahattin Gonultas and Muhammed Ali GurtasA third bridge spanning Istanbul’s Bosphorus waterway opened Friday with a ceremony attended by President Recep…

Turkish shares open flat ahead of Fed chief's speech

August 26, 2016 in Finance
By Bahattin GonultasANKARATurkish shares opened flat on Friday ahead of a speech by the head of the U.S. Federal Reserve Janet Yellen, with the Borsa…

New Istanbul bridge linking Europe, Asia opening Friday

August 26, 2016 in Finance
A third bridge linking the European and Asian sides of Istanbul will be opened Friday with a ceremony to be attended by President Recep Tayyip Erdogan and…

Turkish shares close higher, lira stays steady

August 26, 2016 in Finance
ANKARA Turkish shares closed higher Thursday, with gains in the financial and industry sectors driving prices higher. Borsa Istanbul's BIST-100, the country’s…

OECD growth slows to 0.3 percent in Q2

August 25, 2016 in Finance
NEW YORK Total GDP growth in the Organization for Economic Co-operation and Development (OECD) area slowed to 0.3 percent during the second quarter, compared…

Greece slams EU 'interference' in falsified data case

August 25, 2016 in Finance
By Vasiliki Mitsiniotou ATHENS Greece’s deputy justice minister Thursday slammed the European Commission for supporting the former head of Athens’ statistics…

Turkish lira recovers after Syria military operation

August 25, 2016 in Finance
By Bahattin GonultasANKARATurkish stocks opened higher on Thursday as global markets wait for clues from the U.S. Federal Reserve’s annual Jackson Hole meeting…

Turkish shares, lira close lower amid military operation

August 25, 2016 in Finance
ANKARATurkish shares closed lower on Wednesday amid a military operation by Turkish military against Daesh militants around the northern Syrian city of…

UK: Scottish oil-revenue fall dints independence calls

August 25, 2016 in Finance
LONDONScotland’s offshore oil revenues collapsed by 97 percent in 2015/16, prompting opposition lawmakers to question the devolved government’s recent calls…

Wall Street closes lower with weak data, oil decline

August 24, 2016 in Finance
NEW YORKWall Street closed lower Wednesday with weak macroeconomic data and oil prices extending their losses. The Dow Jones fell 65 points to end the day at…

US stock market opens lower

August 24, 2016 in Finance
NEW YORK The stock market opened lower Wednesday as oil prices started to decline once again. The Dow Jones decreased 27 points to begin the day at 18,519. The…

Turkish stocks, lira open lower amid military operation

August 24, 2016 in Finance
By Bahattin GonultasANKARATurkish stocks opened sharply lower Wednesday after the Turkish Armed Forces hit targets in northern Syria as part of anti-Daesh…

Locals hail govt incentives for investing in SE Turkey

August 24, 2016 in Finance
ANKARA Businesspeople from southeastern Turkey are lauding a package of economic subsidies designed to spur investments and exports recently announced by the…

OPEC freeze will not push up crude prices, Goldman says

August 24, 2016 in Finance
NEW YORK An OPEC production freeze and weak dollar would not be able to keep oil prices higher, according to Goldman Sachs. The global investment bank said…

Turkish shares close lower, lira stays steady

August 23, 2016 in Finance
ANKARATurkish shares closed lower Tuesday, with losses in the banking and food sectors driving shares down.Borsa Istanbul's BIST-100, the country’s benchmark…

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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