Wednesday , March 29 2017
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Turkey bans almost entire list of Russian agricultural imports


ANKARA: Turkey has officially sent the information on duties on Russian goods to the Russian Agriculture Ministry, Vesti.ru reported referring to local media. Thus, Russia was removed from a duty-free import program for agricultural products. Turkish importers and processors could carry out duty-free import of Russian products to Turkey on the basis of issued licenses for import of agricultural products ... Read More »

Turkish exporters to visit Azerbaijan in May


ANKARA: A delegation of the Turkish Eastern Black Sea Exporters Association will visit Azerbaijan and Georgia on May 2-6, said head of the association Ahmet Hamdi Gurdogan. He noted that this visit, supported by Turkey’s Ministry of Economy, is aimed at strengthening of trade ties between the countries, according to the association’s website. “Although, Turkey’s trade ties with Azerbaijan and ... Read More »

Turkish banking sector loans seen rising by almost half in Q1


ANKARA: Loans by the Turkish banking sector were seen rising to some 175 billion lira ($48.80 billion) in the first quarter from 120 billion lira in the same period a year earlier, the banking association chairman said. Huseyin Aydin, head of the Turkish Banks Association, said the rise was thanks to a set of measures taken by the government to ... Read More »

Turkey’s grain board TMO, Gap Insaat to sell debut Islamic bonds


ANKARA: Turkey’s state grain board TMO and construction firm Gap Insaat have received regulatory approval for debut sales of Islamic bonds, or sukuk, as the funding format gains favour to tap local and Gulf investors. Turkey has seen steady issuance of sukuk from the government and the country’s Islamic banks, known domestically as participation banks, but an increase in corporate ... Read More »

Turkish minister visits Switzerland as Europe row simmers


ANKARA: Turkish Foreign Minister Mevlut Cavusoglu met with his Swiss counterpart Thursday after having to call off a campaign appearance amongst diaspora voters, in a bitter row between Ankara and Europe. Relations between Turkey and Europe have been severely strained since several Turkish ministers were blocked from campaigning on the continent for a ‘yes’ vote in next month’s referendum on ... Read More »

Turkey freezes plan to sell $10 bln in seized firms


ANKARA: Turkey put on hold a plan to sell almost 600 companies worth about $10 billion that were seized in the aftermath of a failed military coup, according to two people with knowledge of the matter. It’s not clear whether the Istanbul-based Savings Deposit Insurance Fund, known as the TMSF, will ever go ahead with the sales because of concern ... Read More »

Turkey’s total oil imports rise 24.26% in Jan


ANKARA: Turkey raised its oil imports by 24.26 percent in January compared to the same month in 2016, Turkish Energy Market Regulatory Authority (EMRA) data showed Wednesday. The country’s oil imports reached 2.3 million tons in January. Iran held the biggest share of oil exports among exporting countries with 23.89 percent in January. Iraq and Russia followed with 23.88 percent ... Read More »

Turkey’s Borsa Istanbul up at opening


ANKARA: Turkey’s benchmark index Borsa Istanbul started Thursday with a 312-point advance to open at 90,121.09. The BIST 100 was up 0.35 percent during opening transactions after having closed the previous day with a 0.88-percent decline in line with the risk-off mood in global markets. The best performer among the BIST 100 sub-indices was the textile and leather index with ... Read More »

Romania-Turkey trade stood at EUR 4.3 bln in 2016


ANKARA: The trade between Romania and Turkey stood at EUR 4.3 billion in 2016, while the total Turkisk investment stock in Romania reached EUR 4 billion according to the Ministry for Business Environment. Romania proved that it can offer advantageous businesses, as it has a stable and competitive economy, with a predictable investments environment where the business Turkish community developed ... Read More »

Turkey sees 2017 growth exceeding target, as March exports rise

high growth rates

ANKARA: Turkey’s economic growth in 2017 will be higher than its target of 4.4 percent, Turkish Economy Minister Nihat Zeybekci said on Tuesday, adding that exports in March were heading for a record-breaking monthly level. Zeybekci, speaking at an interview with broadcaster A Haber, said exports in March would rise 15 to 16 percent to surpass the month’s record of ... Read More »

Turkish Central Bank takes step to boost lira’s value


ANKARA: Turkey’s Central Bank has taken a step to boost the value of Turkish lira by increasing the bank’s U.S. dollar denominated reserves. The bank raised interests paid to local lenders’ U.S. dollar reserves by 25 basis points on Tuesday, the Central Bank said in a statement. Interest rates paid to lenders as part of a local bank’s required reserve ... Read More »

Over 100 kilograms of heroin seized from truck in Turkey


ANKARA: More than 100 kilograms (220 pounds) of heroin have been seized from a truck in Kocaeli province near Istanbul, according to a police official Tuesday. A police source who spoke on condition of anonymity said a team from the Kocaeli police’s anti-drug unit stopped a truck with a foreign license plate on a highway headed to Izmit district. With ... Read More »

Phoenix Solar wins 11.2-MWp solar job from Akfen in Turkey

phoenix solar

ANKARA: Phoenix Solar AG (ETR:PS4) has been awarded another utility-scale solar project by Akfen Renewable Energies in Turkey, of 11.2 MWp this time, the German developer said today, and also announced the establishment of a local subsidiary. A consortium led by the energy arm of Akfen Holding has selected Phoenix Solar to take charge of all engineering, procurement and project ... Read More »

Turkish ministry denies report on Russian goods ban


ANKARA: Turkey has been implementing a liberal foreign trade policy in full accordance with rules of the World Trade Organization (WTO) as opposed to some reports in the media about Russian goods, according to Ministry of Economy Friday. “As of March 17, there are some inaccurate reports in both domestic and international press about restrictions on import of some Russian ... Read More »

Turkey signs deal for longest ever suspension bridge


ANKARA: Turkey has set the ball rolling for the longest suspension bridge in the world following a formal signing ceremony in Ankara, which will see Turkish and South Korean firms work together in the multi-billion-dollar project, Turkey’s Anadolu Agency (AA) reported. The over 2-kilometer (1.2-mile) long Canakkale 1915 Bridge is expected to be built within five-and-half years at a cost ... Read More »

Turkey invests $2.45B in electronic communications


ANKARA: Private telecommunications companies and Internet service providers invested 7.4 billion Turkish liras (some $2.45 billion) in infrastructure including research and development in 2016, Turkey’s communications minister said Tuesday. “Our goal is to further increase this amount,” Ahmet Arslan said in releasing the latest quarterly market data report for the electronic communications sector in the country. The minister said that ... Read More »

Turkey posts worst budget, jobless numbers since 2009 crisis

budget proposals

ANKARA: Turkey posted some of its worst budget and unemployment data since 2009, when the impact of the global financial crisis was at its peak. The central government ran a budget deficit of 6.8 billion liras ($1.8 billion) in February, the biggest shortfall for the month in eight years, the Finance Ministry said on Wednesday. Youth joblessness surged to 24 ... Read More »

Turkish-Egyptian business councils meet for first time in years

business council

ANKARA: The Turkish-Egyptian Business Council has met in Cairo for the first time since the military coup in Egypt in 2013, calling for a revival of bilateral economic and trade ties. A Turkish delegation, headed by Mesut Toprak of the Turkish-Egyptian Business Council of the Foreign Economic Relations Board (DEİK), visited the Egyptian capital on March 12, according to a ... Read More »

QNB Finansbank first in Turkey to launch digital signatures in branches


ANKARA: Turkey-based QNB Finansbank, a subsidiary of QNB Group and one of the top five privately owned banks in the country, has enabled its customers to use digital signatures for account opening and loans in the bank’s branches. Customers can sign digitally in the branches on the “smart screen” – a small tablet application that is customer-facing and integrates wirelessly ... Read More »

Turkey seeks full restoration of agri. exports to Russia

agri exports

ANKARA: Turkish authorities ask Russia to lift all restrictions on supplies of Turkish food products. In particular, it goes about the supplies of Turkish tomatoes to Russia. Earlier this month, Russia lifted restrictions for imports of Turkish carnations, onions, shallots, cauliflower, broccoli and salt. Yet, imports of pears, cucumbers, tomatoes, apples and poultry are still banned. Should the restrictions be ... Read More »