Business Turkey


  • 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.

  • 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.

  • 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.

  • *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.

  • 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:.

  • 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.

  • 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.

  • 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.

  • *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.