Business News Turkey

  • * "Act fast and now," youth in Brussels tells governments. STOCKHOLM/ BRUSSELS, May 24- Swedish teenage activist Greta Thunberg urged European politicians on Friday to focus on a climate crisis instead of "bickering," as children walked out of classes around the world to back her demands for urgent action to curb carbon emissions. Thunberg, 16, said the threat of...

  • President Donald Trump, declaring a national emergency because of tensions with Iran, swept aside objections from Congress on Friday to complete the sale of over $8 billion worth of weapons to Saudi Arabia, the United Arab Emirates and Jordan. Members of Congress had been blocking sales of offensive military equipment to Saudi Arabia and the United Arab...

  • President Donald Trump, saying there is a national emergency because of tensions with Iran, swept aside objections from Congress and cleared the sale of $8 billion worth of weapons to Saudi Arabia, the United Arab Emirates and Jordan. In documents sent to Congress and seen by Reuters, Secretary of State Mike Pompeo listed a wide range of products and services...

  • WASHINGTON, May 23- The Senate Armed Services Committee unveiled a draft bill on Thursday that targets China on several fronts, from stemming the erosion of the U.S. military advantage against Beijing to countering the growing Chinese influence around the world. The committee acknowledged that "our margin of military supremacy has eroded and is undermined by...

  • WASHINGTON, May 23- The U.S. Senate Armed Services Committee on Thursday unveiled a draft $750 billion defense policy bill that would authorize more Lockheed Martin F-35 jets for the United States and effectively end Turkey's partnership in the program if Ankara pursues a plan to buy a Russian missile defense system. In the coming weeks the U.S. House of...

  • BAKU, May 23- Azerbaijan's only oil refinery plans to import 110,000 tonnes of A-92 petrol in October while it halts production for a month for routine maintenance, state energy company SOCAR's vice president told Reuters on Thursday. "It's not ruled out that purchases would be made from Russia and Turkmenistan, although it will depend on prices and some other...

  • President Donald Trump's administration plans to use a loophole and rising tensions with Iran to sell bombs to Saudi Arabia, even though Congress blocked such sales for months over concerns about civilian deaths in the war in Yemen, Senator Chris Murphy said on Wednesday. "I am hearing that Trump may use an obscure loophole in the Arms Control Act and notice a...

  • ISTANBUL, May 22- Turkey's lira slid nearly 1% on Wednesday and shares hit a two-year low on investor concerns about strains with Washington over Ankara's push to purchase a Russian missile system and the central bank's reversal of recent monetary tightening. Defense Minister Hulusi Akar said late on Tuesday that Turkey was preparing for potential U.S....

  • Russia's S-400 surface-to-air missile system is seen during a military parade in Moscow's Red Square.

    The U.S. State Department's current offer is the final one, according to multiple sources.

  • ISTANBUL, May 21- Turkey has marshaled its state lenders and central bank to curb a selloff in the lira since late March that has threatened to trigger a repetition of last year's full-blown currency crisis, which tipped the Turkish economy into recession. In the days before nationwide local elections on March 31, Turkey directed its state banks to withhold lira...

  • *Central bank holds first repo auction since May 9. ANKARA/ ISTANBUL, May 21- The Turkish lira weakened on Tuesday after the central bank lowered the swap market lira interest rate and held a repo auction for the first time in nearly two weeks, reversing a policy tightening step it had taken to support the currency. The central bank injected 17 billion lira in the repo,...

  • ANKARA, May 20- Turkey's BDDK banking watchdog on Monday imposed a settlement delay for FX purchases by individuals of more than $100,000, a move that could raise concerns about capital control in the country as it looks protect the value of its local currency. The settlement date for FX purchases by individuals of more than $100,000- or equivalent in other...

  • ANKARA, May 20- Turkey's BDDK banking watchdog on Monday imposed a settlement delay for FX purchases by individuals of more than $100,000, a move that could raise concerns about capital control in the country as it looks protect the value of its local currency. The settlement date for FX purchases by individuals of more than $100,000- or equivalent in other...

  • *China shares down after Washington blacklists Huawei. Samrat Dasgupta, a fund manager at Esquire Capital Investment Advisors warned that while a rally could be expected for the next few days, further upside- even if the outcome matches the polls- will be limited as people will wait to see what policies will be made by the new government as the economy passes...

  • LONDON, May 16- Iranian crude oil exports have fallen in May to 500,000 barrels per day or lower, tanker data showed and industry sources said, after the United States tightened the screws on Tehran's main source of income, deepening global supply losses. The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between...

  • *Turkey, U.S. at odds over Russian missiles, Syria. ANKARA, May 17- The U.S. decision to end its preferential trade agreement with Turkey contradicts their $75 billion bilateral trade target, Trade Minister Ruhsar Pekcan said on Friday, but welcomed Washington's move to halve tariffs on steel imports. The United States imported $1.66 billion worth of goods in 2017...

  • *But greenback dips vs yen on lingering U.S.- China trade woes. *US terminates Turkey's preferential trade deal, lira edges down. "The euro is weighed down as the zone is saddled with weak economic fundamentals and Italian political concerns, while it's all about Brexit for the pound," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

  • *US terminates Turkey's preferential trade deal, lira edges down. "The euro is weighed down as the zone is saddled with weak economic fundamentals and Italian political concerns, while its all about Brexit for the pound," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. Italy's right-wing League party will "tear apart" European Union rules...

  • WASHINGTON, May 16- The United States on Thursday terminated Turkey's preferential trade treatment that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%. The White House said it was appropriate to terminate Turkey's eligibility to participate in the Generalized System of Preferences...

  • WASHINGTON, May 16- The United States on Thursday terminated Turkey's preferential trade treatment under a program that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%. The White House said it was appropriate to terminate Turkey's eligibility to participate in the Generalized System of...