Business Turkey


  • TABLE-Turkish 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.

  • Oil up slightly after positive US economic reports Thursday, 4 Oct 2012 | 1:34 AM ET

    Rising tensions between Syria and Turkey also contributed to higher prices, the geopolitical risk highlighting concerns about Middle East oil supplies. By early afternoon in Europe, benchmark oil for November delivery was up 62 cents to $88.76 a barrel in electronic trading on the New York Mercantile Exchange.

  • RLPC-Sberbank launches $1.5 bln syndicated loan-bankers Thursday, 4 Oct 2012 | 12:57 AM ET

    LONDON, Oct 4- Russia's largest bank Sberbank. Barclays is coordinating Sberbank's three-year loan, which is the largest such deal in the central and eastern European pipeline, the bankers added. Bank of Tokyo-Mitsubishi UFJ, Barclays, Citi, HSBC, ING, JP Morgan, WestLB, Goldman Sachs, Bank of America Merrill Lynch and SMBC participated in the 2011 deal.

  • Bosnia 450 MW coal-fired project draws 12 bids Thursday, 4 Oct 2012 | 12:47 AM ET

    *One of largest energy projects in Bosnia. Five bidders came from China: China Machinery Engineering Corporation, Harbin Electric International, Sepco Electric Power Construction Corp., and two consortia led by China Gezhouba Group Corp and Sepco III Electric Power Construction Corporation.

  • *Jittery investors await U.S. job data, watch Europe. *Social unrest in Iran, Turkey- Syria clashes in focus. SINGAPORE, Oct 4- Brent futures steadied above $108 a barrel on Thursday after a sharp drop in the previous session, with investors waiting for a European Central Bank policy meeting and critical jobs data out of the United States this week for more trading cues.

  • The explosion area is pictured after several Syrian shells crashed inside Akcakale town in Turkey, killing at least five people on October 3, 2012.

    The Turkish prime minister announced on Wednesday night that Turkey had fired artillery at targets in Syria, in retaliation for Syrian mortar fire that fell in a Turkish border town and killed five Turkish civilians, the New York Times reports.

  • *China, Europe services PMI disappoint. NEW YORK, Oct 3- Oil prices fell sharply on Wednesday as disappointing economic data from China and Europe reinforced concerns about slowing growth and a weakening demand for petroleum, even as supportive U.S. data strengthened the dollar.

  • By Yeganeh Torbati and Marcus George. DUBAI, Oct 3- Riot police clashed with demonstrators and arrested money changers in Tehran on Wednesday in disturbances over the collapse of the Iranian currency, which has lost 40 percent of its value against the dollar in a week, witnesses said.

  • By Yeganeh Torbati and Marcus George. DUBAI, Oct 3- Riot police clashed with demonstrators and arrested money changers in Tehran on Wednesday in disturbances over the collapse of the Iranian currency, which has lost 40 percent of its value against the dollar in a week, witnesses said.

  • Among the 12 applicants were Enerjisa Elektrik, co-owned by Sabanci Holding and Austria's Verbund, as well as Park Holding, Aksa Elektrik, Calik Enerji and Zorlu Holding.

  • Dubai's Emaar to develop housing projects in Iraq Wednesday, 3 Oct 2012 | 9:53 AM ET

    DUBAI, Oct 3- Dubai's Emaar Properties will set up a new joint venture with the Iraqi government to develop housing in the war-torn country, Iraq's construction and housing minister said on Wednesday. Nine years after the United States invaded Iraq to topple Saddam Hussein, there are signs that foreign investment in the country is finally building momentum.

  • Turkey's Vakifbank eyes possible privatisation Wednesday, 3 Oct 2012 | 8:34 AM ET

    ISTANBUL, Oct 3- Turkey's Treasury is taking a controlling stake in the country's seventh largest bank by assets, Vakifbank, which is expected to lead to a possible secondary offering at a later stage, its CEO said on Wednesday. Russia's Sberbank bought Turkey's DenizBank.

  • Greece looks out to sea for gas wealth salvation Wednesday, 3 Oct 2012 | 8:13 AM ET

    LONDON/ MILAN, Oct 3- Offshore natural gas could dramatically change Greece's fortunes, should early estimates of $600 billion worth of reserves be confirmed, according to a study presented to Prime Minister Antonis Samaras in June and seen by Reuters.

  • Turkish September auto sales up 15.8 pct-assn Wednesday, 3 Oct 2012 | 8:06 AM ET

    ISTANBUL, Oct 3- Turkish car and light commercial vehicle sales rose 15.8 percent year-on-year to 69,629 units in September, the Automotive Distributors' Association said on Wednesday. In the three quarters of 2012, sales dipped 12.05 percent from a year earlier to 530,713 units, the association said in a statement.

  • Turkey's Ziraat applies to issue 500 mln lira bill Wednesday, 3 Oct 2012 | 7:46 AM ET

    ISTANBUL, Oct 3- Turkey's largest state lender Ziraat Bank said on Wednesday it had applied to the Capital Markets Board and Istanbul Stock Exchange to issue a 500 million lira 179- day bill with an additional option of 300 million lira.

  • Turkish lira eases, bonds flat after inflation data Wednesday, 3 Oct 2012 | 5:01 AM ET

    ISTANBUL, Oct 3- Turkish bond yields were steady on Wednesday and the lira weakened after a food price-fuelled rise in September inflation failed to dent expectations of more easing of monetary policy.

  • UPDATE 2-Turkish inflation rises on food, tax shocks Wednesday, 3 Oct 2012 | 4:49 AM ET

    ANKARA, Oct 3- Food prices drove Turkish inflation higher in line with forecasts in September, a supply side shock to prices that the central bank has so far put aside in easing monetary policy.

  • ANKARA, Oct 3- Turkish inflation rose broadly in line with forecasts in September, data showed on Wednesday, and was not seen affecting expectations that the central bank will continue to ease monetary policy.

  • TABLE-Turkish Sept CPI +1.03 pct m/m, +9.19 pct y/y Wednesday, 3 Oct 2012 | 3:09 AM ET

    ANKARA, Oct 3- The Turkish Statistics Institute published the following data on September inflation on Wednesday: TURKISH PRICES SEPT 12 AUG 12 SEPT 11 Consumer m/m 1.03 0.56 0.75 Consumer y/y 9.19 8.88 6.15 Consumer index 207.55 205.43 190.09 Producer m/m 1.03 0.26 1.55 Producer y/y 4.03 4.56 12.15 Producer index 205.75 203.65 197.77.