Turkey
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Bob Turner, Turner Investment Partners, explains why he is bullish on Turkey, Indonesia, Mexico and the Philippines.
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ATHENS, Oct 5- Two of Greece's biggest banks, National and Eurobank, are in merger talks to create the country's biggest lender, banking sources said on Friday.
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LONDON, Oct 5- South Africa's rand plunged 2 percent on Friday to just shy of a three-year low against the dollar as labour unrest swept the country, while Turkish assets stabilised after the previous day's sell-off caused by political concerns.
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*FinMin signals higher taxes on the wealthy. ANKARA, Oct 5- Turkey plans to impose higher taxes on the rich to try to narrow its budget deficit, Finance Minister Mehmet Simsek said on Friday after officials announced Ankara would miss its budget deficit target this year by one percentage point.
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ISTANBUL, Oct 5- Major Turkish lender Isbank. said on Friday it had signed two loan deals with the Japan Bank for International Cooperation worth a total $300 million.
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*Turkey- Syria conflict stokes supply concern. LONDON, Oct 5- Oil slid below $112 per barrel on Friday as investors awaited data that is expected to show U.S. unemployment is on the rise, reinforcing concern that a fragile global economic recovery is still under threat. Brent futures fell more than $1 a barrel and by 0947 GMT were trading at $111.93- down 65 cents.
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LONDON, Oct 5- South Africa's rand plunged 2 percent on Friday to just shy of a three-year low against the dollar as labour unrest swept the country, while Turkish assets stabilised after the previous day's sell-off caused by political concerns.
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In Europe, the FTSE 100 index of leading British shares was up 0.3 percent at 5,846 while Germany's DAX rose 0.5 percent to 7,342. The CAC-40 in France was 0.7 percent higher at 3,427.. The price of oil was steady after advancing in the wake of concerns of rising tensions between Turkey and Syria _ the benchmark New York rate was 74 cents lower at $90.95 a barrel.
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ANKARA, Oct 5- Turkey's Finance Minister Mehmet Simsek said on Friday that the government has launched an initiative to impose higher taxes on wealthy people.
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ANKARA, Oct 5- Turkish Finance Minister Mehmet Simsek said on Friday that Turkey aimed to complete a secondary public offering of state owned lender Halkbank this year or in 2013..
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*Turkish assets flat after sell-off on Syria tensions. ISTANBUL, Oct 5- Turkish shares and currency steadied on Friday, a day after hitting their lowest levels in recent weeks due to tensions with Syria, while state lender Halkbank shares edged up on news a public offering would be completed within a year.
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PARIS, Oct 5- French automaker Renault plans to build more than 70 percent of its Clio subcompacts in Turkey, union sources said, in a shift abroad that could inflame tensions with workers and the government, its biggest shareholder.
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ISTANBUL, Oct 5- Turkey's central bank injected 2 billion lira in a one-month repo auction on Friday. Total bids amounted to 6.2 billion lira for the repo, which will mature on Nov. 2, and the average simple rate was 5.87 percent. The bank also injected 6.5 billion lira into the market in a one-week repo auction at a fixed simple rate of 5.75 percent.
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PARIS, Oct 5- French automaker Renault plans to build more than 70 percent of its Clio subcompacts in Turkey, union sources said, in a shift abroad that could inflame tensions with workers and the government, its biggest shareholder.
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ISTANBUL, Oct 5- The Turkish Central Bank will hold a one-month repo auction on Friday maturing on Nov. 2 with a volume of 2 billion lira bank data showed. The bank also said it will hold a one-week repo auction with a volume of 6.5 billion lira, maturing on Oct. 12.
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*Turkey- Syria conflict stokes supply fears. SINGAPORE, Oct 5- Brent futures slipped towards $112 per barrel on Friday, but were on course to end a choppy week nearly flat as rising tensions in the Middle East battle with perennial worries about the global economy and oil demand.
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By early afternoon in Europe, benchmark oil for November delivery was down 70 cents to $91.01 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, tensions between Syria and Turkey gave oil prices their biggest jump in two months. Oil settled at $91.71 per barrel, up by $3.57, or 4 percent, in New York.
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ISTANBUL, Oct 5- Here are news, reports and events that may affect Turkish financial markets on Friday. The lira was at 1.7979 against the dollar at 0533 GMT, little changed from 1.7985 late on Thursday when it recovered from early losses after Turkey said Syria had apologised for artillery shelling which killed five Turkish civilians.
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*Turkey- Syria conflict stokes supply fears. SINGAPORE, Oct 5- Brent futures slipped below $112 per barrel on Friday, but they are on course to end a choppy week nearly flat as rising tensions in the Middle East battle with perennial worries about the global economy and oil demand.
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*Supportive U.S. data offset by weak China, Europe reports. NEW YORK, Oct 5- Oil prices fell on Friday and headed for a weekly loss as a fragile global economy and uncertainty about Europe's debt crisis countered any support from a better-than-expected U.S. employment report.
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*Turkey- Syria conflict stokes supply fears. SINGAPORE, Oct 5- Brent futures slipped towards $112 per barrel on Friday, but is on course to end a choppy week nearly flat as rising tensions in the Middle East battled with perennial worries about the global economy and oil demand.