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Business Turkey


  • Europe Power-Curve price recover from lows on oil gains Thursday, 4 Oct 2012 | 10:17 AM ET

    *Spot prices mixed with Germany's down on more green power. FRANKFURT, Oct 4- Prices along Europe's power forward curve recovered on Thursday, led by oil's rise on Middle East concerns, which spilled over into related fuels, traders said. Germany's annual baseload contract for 2013.

  • DUBAI, Oct 4- Kuwait's unexpected 50 basis-point interest rate cut will help reduce borrowing costs for businesses but is not going to be enough to kick-start bank lending without a lasting solution to the country's political crisis.

  • UPDATE 5-Oil rises near $110 on Mideast concerns Thursday, 4 Oct 2012 | 9:57 AM ET

    *Unrest in Turkey- Syria raises regional security worries. LONDON, Oct 4- Brent crude oil rose almost $2 per barrel on Thursday after skirmishes along the Turkey- Syria border raised fresh concerns over the security of Middle Eastern oil supplies.

  • The ECB's decision was widely expected and the market was more focused on what ECB president Mario Draghi will say in his post-meeting news conference about Spain and the prospect that it will trigger the bank's new bond buying programme. "What is key for euro/dollar going forward is going to be Spain," said Michael Sneyd, FX strategist at BNP Paribas.

  • *Parliament approves military operations outside Turkey. ISTANBUL, Oct 4- Turkish assets weakened on Thursday on investor concerns about increasing tension with Syria, after a mortar bomb hit a residential district in southeast Turkey, killing five people.

  • UPDATE 4-Oil rises above $109 on geopolitical tensions Thursday, 4 Oct 2012 | 8:00 AM ET

    *Unrest in Turkey- Syria raises regional security worries. LONDON, Oct 4- Brent crude oil rose above $109 per barrel on Thursday as escalating tensions between Syria and Turkey raised more concerns over the security of oil supplies from the Middle East.

  • WARSAW, Oct 4- With its growth sliding, employment flat, and inflation slowing, sometimes it seems that the only thing not on a downward path in former EU growth leader Poland is interest rates.

  • EU poised to agree ban on Iranian gas imports-sources Thursday, 4 Oct 2012 | 6:51 AM ET

    BRUSSELS, Oct 4- The European Union is poised to ban imports of Iranian gas into Europe as part of its efforts to ratchet up pressure on the Islamic Republic over its nuclear programme, diplomats said on Thursday.

  • The European Central Bank is not expected to cut rates at the monthly policy making session despite weaker economic data, but was seen likely to be pressed on negotiations with Spain over its financing needs in the news conference which follows.

  • Brent crude oil jumps $1 on geopolitical tensions Thursday, 4 Oct 2012 | 6:07 AM ET

    LONDON, Oct 4- Brent crude oil rose more than $1 per barrel on Thursday as fresh tension between Syria and Turkey raised fears over the security of oil supplies from the Middle East. Turkish artillery hit targets near Syria's Tel Abyad border town for a second day on Thursday after a mortar bomb fired from the area killed Turkish civilians.

  • LONDON, Oct 4- Turkish stocks fell 1.6 percent on Thursday and credit default swaps jumped after a sharp escalation in political risks caused by retaliatory military raids within the Syrian border. "Clearly a short-term risk for Turkey and Turkish assets," said Simon Quijano-Evans, chief EEMEA economist at ING. MSCI emerging stocks rose 0.3 percent.

  • ANKARA, Oct 4- Turkish Energy Minister Taner Yildiz told Reuters the gas flow from Azerbaijan resumed on a pipeline carrying natural gas from the Shah Deniz field to Turkey on Thursday, apart from in the Sarikamis area in eastern Turkey's Kars province.

  • UPDATE 3-Oil rallies to $109 as risk appetite returns Thursday, 4 Oct 2012 | 4:58 AM ET

    *Spain expected to ask for euro zone financial bailout. *Unrest in Iran, Turkey- Syria raise geopolitical worries. LONDON, Oct 4- Brent crude oil rose towards $109 per barrel on Thursday as expectations Spain would seek a bailout and better U.S. data encouraged investors back into riskier assets such as oil and commodities.

  • ISTANBUL, Oct 4- The Turkish lira partially pared its losses on Thursday after an advisor to Prime Minister Tayyip Erdogan said Turkey had no interest in a war in Syria, easing investors' anxiety over increasing tension between two countries.

  • BAKU, Oct 4- BP-Azerbajan said on Thursday the gas flows from Azeri Shah Deniz fields to Turkey were halted last night due to an "an incident" after reports of a pipeline blast. She declined to say whether a blast in Turkey caused the gas flows stoppage. Earlier on Thursday Turkish energy officials said the gas supplies were stopped due to an explosion in Turkey.

  • ISTANBUL, Oct 4- Turkey's central bank said on Thursday it expects inflation to fall significantly in the last quarter of 2012 despite recent price hikes. In its monthly price developments report, the bank also said recent energy price hikes are expected to add 0.5 points to annual inflation while taxes hikes would add 0.66 points.

  • ANKARA, Oct 4- Flows on a pipeline carrying Azeri natural gas from the Shah Deniz fields were halted due to an explosion in Turkey late on Wednesday, Turkish energy officials said on Thursday. An explosion occurred on the pipeline between the eastern Turkish cities of Kars and Erzurum, the officials said on condition of anonymity.

  • *Jittery investors await U.S. job data, watch Europe. *Social unrest in Iran, Turkey- Syria clashes in focus. SINGAPORE, Oct 4- Brent futures edged up towards $109 per barrel on Thursday as a steep drop in the previous session brought in bargain hunters, while investors awaited further cues from a European Central Bank policy meeting and critical U.S. jobs data.

  • TABLE-Turkish c.bank fx reserves rise to $94.8 bln Thursday, 4 Oct 2012 | 2:46 AM ET

    ISTANBUL, Oct 4- The Turkish Central Bank's gross foreign exchange reserves rose to $94.800 billion in the week to Sept. 28 from $93.429 billion a week earlier, according to Reuters calculations based on central bank data. Following is a breakdown of reserves:.

  • Turkey - Factors to Watch on Oct 4 Thursday, 4 Oct 2012 | 1:47 AM ET

    The lira was at 1.8035 against the dollar at 0544 GMT, weakening from 1.7966 late on Wednesday after Turkish artillery hit targets inside Syria in response to a mortar bomb fired from Syria which killed five Turkish civilians.