Business News Turkey

  • JACKSON HOLE, Wyo., Aug 23- It's a maxim for private investors: Don't fight the Fed. "Domestic monetary policy transmission is imperfect and as a consequence, emerging markets' monetary policy actions designed to limit exchange rate volatility can be counterproductive," Sebnem Kalemli-Ozcan, a University of Maryland economics professor, wrote in a paper...

  • MOSCOW, Aug 23- Russian state-controlled bank VTB has asked President Vladimir Putin to help it create a Russian grain champion to curb the role of foreign traders and give the state greater control over exports, a letter seen by Reuters shows. Russia has become increasingly concerned about food security and reducing its reliance on imports since Western...

  • WASHINGTON, Aug 22- The U.S. offer to sell Raytheon Co's Patriot missile defense system to Turkey is "off the table," having expired following Ankara's decision to accept Russian S-400 defensive systems, a State Department official said on Thursday. Ankara and Washington have been at odds for years over Turkey's interest in the S-400 systems, which the United...

  • WASHINGTON, Aug 22- The U.S. offer to sell Raytheon Co's Patriot missile defense system to Turkey has expired, following Ankara's decision to accept Russian S-400 systems, a State Department official said on Thursday. The official said the United States had told Turkey repeatedly that the proposed sale would be off the table if it took delivery of the Russian...

  • JACKSON HOLE, Wyo., Aug 22- Federal Reserve Chair Jerome Powell comes to this year's meeting of central bankers in Jackson Hole, Wyoming, caught between discord within the U.S. central bank over appropriate monetary policy and mounting outside pressure for more interest rate cuts. "We cannot rule out this year's Jackson Hole being another fundamental shift in...

  • *China vows retaliation if U.S. imposes tariffs. A near 1% fall in Hong Kong- listed shares amid worries over escalating political protests and 0.8% drop in Indian shares weighed on MSCI's widely-tracked 26- country EM index, which eased 0.4%. All eyes will turn to Fed chief Jerome Powell, who is set to speak at the global central bankers' annual policy retreat in...

  • *South Korea's Kospi up 1% as tech stocks rise. *Philippines to boost infrastructure spending in 2020 budget. Seoul- listed shares jumped more than 1%, helped by technology companies following reports of Japan approving shipments of a high-tech material to South Korea for the second time since imposing export curbs last month.

  • *Argentina's small economy soothes contagion worries. LONDON, Aug 16- Argentina's latest financial market shock has failed to swamp other emerging markets in the way its previous plunges have done- in part due to the increasing isolation of the country's credit and investments from the rest of the pool. This week's jolt initially sparked some debt and equity...

  • ANKARA, Aug 16- Turkish industrial production fell for the tenth consecutive month in June, data showed on Friday, offering few signs of a pick-up in economic growth as domestic demand remains weak after last year's currency crisis. Industrial production on a calendar-adjusted basis contracted 3.9% year-on-year in June, the Turkish Statistical Institute...

  • ISTANBUL, Aug 15- Turkey's seasonally adjusted unemployment rate climbed to its highest level on record, statistical data showed on Thursday, despite a slight fall in the April-June headline figures. The seasonally adjusted rate hit 14.0%, according to Turkish Statistical Institute figures, reflecting Turkey's slide into recession after a currency crisis...

  • *Analysts split on rate cut by Mexico's central bank. The rand rose about 1% after reaching an 11- month low, weakened by the risk aversion that has hit global markets as the U.S.- China trade war continued. All I can say is people are trying to picking a bottom here, "said Paul Fage, senior emerging markets strategist at TD Securities, London.

  • ISTANBUL, Aug 15- Turkey's unemployment rate declined to 12.8% in the April-June period, data from the Turkish Statistical Institute showed on Thursday, but the seasonally adjusted rate climbed to its highest on record. Unemployment surged to a decade high of 14.7% in the December-February period as economic activity slowed after a currency crisis saw the...

  • ISTANBUL, Aug 13- Turkey's lira made up most of its early losses on Tuesday on news that the United States will delay imposing some tariffs on China, but investors remained wary of emerging markets after the Argentinian peso hit a record low against the dollar. Argentina was the main point of focus in the currency market earlier in the day after center-left...

  • *Hong Kong protests, Argentine peso collapse unsettle markets. LONDON, Aug 13- Share markets fell for a third straight day on Tuesday as fears about a drawnout global trade war, protests in Hong Kong and a crash in Argentina's peso currency kept investors huddled in bonds, gold, and the Japanese yen for safety. If that wasn't enough, Europe's bourses and the euro were...

  • *Hong Kong protests, Argentine peso collapse unsettle markets. LONDON, Aug 13- Share markets fell for a third straight day on Tuesday as fears about a drawn out global trade war, protests in Hong Kong and a crash in Argentina's peso currency kept investors huddled in bonds, gold, and the Japanese yen for safety. Early 0.3%-0.6% drops from Europe's main indexes after...

  • ANKARA, Aug 9- Turkey's central bank has dismissed its chief economist, Hakan Kara, and some department managers, according to a document seen by Reuters, re-igniting concern about political interference in the institution one month after the sacking of its governor. Also dismissed were the bank's research and monetary policy general manager, Pinar Ozlu;...

  • Graduation, grad, student debt, education, student loans

    A new report picks the top universities for developers, based on the four skills most desired by employers.

  • LAS VEGAS, Aug 8- Apple Inc is offering cyber security researchers up to $1 million to detect flaws in iPhones, the largest reward offered by a company to defend against hackers, at a time of rising concern about governments breaking into the mobile devices of dissidents, journalists and human rights advocates. A number of private companies, such as Israel's NSO...

  • *Banks puts Aramco value at $1.3- $1.7 trillion- sources. LONDON/ RIYADH/ DUBAI, Aug 7- Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking sources said. Prince Mohammed put a $2 trillion...

  • ATHENS, Aug 7- Greece, Israel, Cyprus and the United States agreed to enhance cooperation in energy, cyber and infrastructure security, Greek Energy Minister Kostis Hatzidakis said on Wednesday after ministers of the four countries met in Athens. Regional tripartite meetings between Israel and Cyprus, which have made discoveries, and Greece, keen to be a hub, have...