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Business Turkey

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • BAKU/ LONDON, Oct 11- Azerbaijan accused BP on Wednesday of making "false promises" on oil output and said the state had missed out on $8 billion of potential revenues from what is one of the company's biggest projects in the world.

  • Crude futures were up ahead of the data on heightened tensions between Turkey and Syria and the potential threat to oil supply in the region. Brent crude was up $1.10 at $115.43 a barrel at 8:45 a.m. EDT, having traded from $114.42 to $115.59. U.S. crude was up $1.24 at $92.49 a barrel, having traded from $91.09 to $92.70.

  • ISTANBUL, Oct 11- Turkey's current account deficit fell in August to its lowest level since October 2009, central bank data showed on Thursday, due mainly to a rise in gold exports and a slowing economy.

  • KAYSERI, Turkey, Oct 11- Turkey said on Thursday it had stopped supplying Syria with electricity, but officials said the decision was due to problems with its neighbour's network and not a political decision to cut it off.

  • DAMASCUS, Oct 11- Syria said on Thursday a Damascus- bound plane forced to land in Ankara by Turkish fighter jets while en route from Moscow had been carrying legitimate cargo. The Foreign Ministry said the Turkish action violated international law and showed Ankara's "hostile policy" towards Syria.

  • *Middle East allocated much more of sukuk than expected. DUBAI, Oct 11- Turkey's first sovereign sukuk issue was a public relations triumph but it's been a financial disappointment so far in the secondary market, showing the risks of over-allocating debt deals to a single region.

  • *Turkey, Syria fighting stokes concern over Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • Turkish shares were trading at their highest in 16- months, buoyed by hopes that ratings agency Fitch, due to conduct an annual review of Turkey soon, will upgrade its credit rating.

  • LONDON, Oct 11- U.S. crude futures rose more than $1 a barrel on Thursday, as rising tension between Syria and Turkey and a supply crunch in oil products pushed prices higher. November crude was up 99 cents at $92.24 a barrel by 1120 GMT, after rising to $92.31. Brent crude was up 89 cents at $115.22.

  • *Turkey, Syria fighting stokes worries about Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • DAMASCUS, Oct 11- Syria said on Thursday a Damascus- bound plane forced to land in Ankara by Turkish fighter jets while en route from Moscow had been carrying legitimate cargo. "The plane was not carrying any illegal material," Ghaida Abdulatif, head of Syrian Arab Airlines, told reporters in Damascus. "

  • DAMASCUS, Oct 11- Syria said on Thursday a Damascus- bound plane forced to land in Ankara by Turkish fighter jets while en route from Moscow had been carrying legitimate cargo. "The plane was not carrying any illegal material," Ghaida Abdulatif, head of Syrian Arab Airlines, told reporters in Damascus. "

  • OSLO, Oct 11- Nordic spot power prices were expected to fall on higher wind output and lower export capacity to Germany, analysts at Point Carbon said on Thursday.

  • ISTANBUL, Oct 11- Turkey's August current account deficit fell to its lowest level since October 2009, central bank data showed, as the trade deficit fell due to an economic slowdown and in line with the central bank's targets.

  • MOSCOW, Oct 11- The following are some of the leading stories in Russia's newspapers on Thursday. -The paper runs an interview with Ivan Tavrin, chief executive officer of Russia's second-largest mobile phone operator MegaFon who says the company earned more than its competitors on data transfer services in the first half of 2012..

  • *Turkey, Syria fighting stokes worries about Mideast supply. LONDON, Oct 11- Brent crude oil headed for its highest close in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.

  • Oct 11- Fitch Ratings has assigned Turkiye Is Bankasi A.S.' s upcoming USD issue of subordinated notes an expected' BB+' rating. Isbank Group is a financial conglomerate, where Isbank is the main financial body. The bank is 40.73% owned by the Isbank Pension Fund and 31.18% is broadly held at end-H112.

  • LONDON, Oct 11- Brent crude oil rose by $1 on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products. By 0818 GMT Brent crude oil was at $115.20 per barrel after reaching $115.33. It was on track for its highest close in a month.

  • ANKARA, Oct 11- Syria decided to stop buying electricity from Turkey last week but there is no disruption to supplies and Turkey stands ready to resume them if Syria wants to start buying again, Energy Minister Taner Yildiz said on Thursday.