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  • ISTANBUL, March 5- Citigroup has sold its nearly 10 percent stake in Turkey's Akbank for $1.2 billion, the U.S. lender said on Thursday, its latest disposal of overseas assets to cut costs and boost profits. New York- based Citi has been paring back in international markets in recent years, pulling out of retail banking in Turkey as well as long-established...

  • ANKARA/ ISTANBUL/ NEW YORK, March 4- Turkey's prime minister and his economic team sought on Wednesday to calm the nerves of top investors in New York who hold more than 20 percent of the main Istanbul stock index, after President Tayyip Erdogan's tirades against the central bank helped send the lira to record lows. Erdogan has repeatedly attacked the bank over its...

  • UPDATE 2-Turkey's watchdog seizes Bank Asya stake Wednesday, 4 Mar 2015 | 12:43 PM ET

    ISTANBUL, March 4- Turkish banking regulators on Wednesday seized a small stake in the Islamic lender Bank Asya over an alleged illegal share sale, the latest round in a battle between Ankara and a U.S.-based Muslim cleric. The campaign has added to investor fears that political interventions are damaging Turkey's financial system. The banking watchdog said...

  • ANKARA/ ISTANBUL, March 4- Turkey's prime minister and his economic team will seek to calm nerves among top investors in New York who hold more than 20 percent of the main Istanbul stock index, after President Tayyip Erdogan's tirades against the central bank helped send the lira to record lows. Erdogan has repeatedly attacked the bank over its failure to cut...

  • ANKARA/ ISTANBUL, March 4- Turkey's prime minister and his economic team will seek to calm nerves among top investors in New York on Wednesday and Thursday after President Tayyip Erdogan's tirades against the central bank helped send the lira to record lows. Babacan, Prime Minister Ahmet Davutoglu, and Finance Minister Mehmet Simsek are due to meet Goldman...

  • MSCI's overall emerging share index lost 0.55 percent to hit a 10- day low, with stocks markets in Turkey, South Africa and Greece also trading down. In South Africa, the rand traded within sight of a three-week low against the dollar as Deputy Central Bank Governor Francois Groepe said economic growth continued to disappoint. In Turkey, the lira hit a record low of...

  • ANKARA, Turkey— Turkey says a recent notice seeking to reserve a large swath of airspace over the Aegean Sea for military maneuvers was issued by mistake and then canceled. Bilgic said Turkey would not declare a new NOTAM for "a certain period of time" and said Turkey was willing to resolve the dispute through talks. The two NATO allies have been at odds for decades...

  • ANKARA, Turkey— A Turkish court on Monday ordered a journalist arrested pending trial as part of an investigation into an alleged conspiracy against hundreds of military officers who were convicted in 2012 of plotting to overthrow the government, the state-run Anadolu Agency reported. Mehmet Baransu was detained for questioning in the probe into...

  • ISTANBUL, March 2- Defending high interest rates is tantamount to treason, Turkish President Tayyip Erdogan warned at the weekend, and said the governor of the central bank and deputy prime minister in charge of the economy needed to "shape up." Deepening a standoff which has rattled investor nerves, Erdogan was quoted on Monday as saying he would hold talks with...

  • KAYSERI, Turkey, Feb 27- President Tayyip Erdogan's tirades against the central bank may be stoking turmoil in Turkish financial markets, but they are winning praise from a class of industrialists who have thrived over the past decade and see him as a pillar of their success. "Without the economic policies of last ten years, without the political stability, and the...

  • LONDON, Feb 27- Emerging market stocks dipped on Friday but were heading for their third weekly gain in the last four as investors positioned for an extended era of cheap money ahead of the European Central Bank's looming bond-buying scheme. "There a bit of market pressure on Turkey," said Aberdeen Asset Management portfolio manager Viktor Szabo.

  • BRUSSELS— The European Union, Japan and other nations hunting for the eastern Atlantic Bluefin tuna are fearful that Turkey's unilateral decision to exceed catch limits agreed last year is threatening the stock recovery and the organization regulating its conservation. Documents seen by The Associated Press and EU comments on Friday show that during an...

  • Demir also said Turkey was in contact with Russia regarding the project but there have been no formal talks. NATO member Turkey chose China Precision Machinery Import and Export Corp in 2013 as the preferred bidder, prompting U.S. and Western concern about security and the compatibility of the weaponry with NATO systems. Turkey's defence minister said last...

  • Call them Islamic extremists Thursday, 26 Feb 2015 | 2:34 PM ET
    In this image made from video posted on a social media account affiliated with the Islamic State group on Thursday, Feb. 26, 2015, which has been verified and is consistent with other AP reporting, militants attack ancient artifacts with sledgehammers in the Ninevah Museum in Mosul, Iraq.

    The US needs to stop tiptoeing around religious sensitivity when it comes to terrorist acts in the name of Islam, says David Phillips.

  • ISTANBUL/ ANKARA, Feb 26- President Tayyip Erdogan's broadside against the central bank has raised concern about the future of its governor and of respected Deputy Prime Minister Ali Babacan, an anchor of investor confidence in Turkey for more than a decade. Traders took this as a thinly veiled reference to U.S.-based cleric Fethullah Gulen, a former ally whom...

  • ISTANBUL/ ANKARA, Feb 26- President Tayyip Erdogan's broadside against the central bank has raised concern about the future of its governor and of respected Deputy Prime Minister Ali Babacan, an anchor of investor confidence in Turkey for more than a decade. Traders took his comments as a thinly-veiled reference to U.S.-based cleric Fethullah Gulen, a former...

  • ANKARA, Turkey— Turkey's state-run news agency says a former police intelligence chief has been detained as part of an investigation into negligence by officials in the 2007 murder of an ethnic Armenian journalist. Anadolu Agency says Ramazan Akyurek was detained Thursday in Ankara for the death of Hrant Dink. Dink was gunned down outside his Agos newspaper...

  • DIARY-Emerging Markets Economic Events to March 4 Wednesday, 18 Feb 2015 | 7:02 PM ET

    ROME- OECD Secretary General Angel Gurria will present the Economic Survey of Italy at a news conference with Economy Minister and Finance Minister Pier Carlo Padoan. SINGAPORE- Singapore Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam will deliver the 2015 Budget statement in the Parliament- 0500 GMT. JERUSALEM- Bank of Israel announces...

  • PARIS, Feb 13- The International Energy Agency elected Turkish economist Fatih Birol as executive director, the Paris- based agency confirmed on Friday, a day after it was announced by Turkey. "With Fatih the IEA is likely to be more outspoken," said Olivier Jakob, an analyst at Petromatrix in Zug, Switzerland. Mark Lewis, a senior analyst at Kepler Cheuvreux in Paris...

  • PARIS, Feb 13- The International Energy Agency elected Turkish economist Fatih Birol as executive director, the Paris- based agency confirmed on Friday, a day after it was announced by Turkey. The current executive director, Maria van der Hoeven, a former Dutch economy minister, took over in September 2011 and will complete her stint at the end of August.