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Turkey, UAE sign 13 agreements worth $50.7 bn Turkey and the UAE have signed 13 bilateral agreements worth $50.7 billion during the visit of Turkish President Recep Tayyip Erdogan to Abu Dhabi, the President's office said. The agreements, which cover energy, transportation, infrastructure, logistics, e-commerce, finance, health, food, tourism, real estate, construction, defence industry, artificial intelligence and advanced technologies, were signed in the presence of Erdogan and UAE President Sheikh Mohamed bin Zayed Al Nahyan. ...
Turkey, UAE sign 13 agreements worth $50.7 bn
Turkey, UAE sign 13 agreements worth $50.7 bn
Source: IANS
20/07/2023 11:15:12 AM
Russia's VTB to launch cross-border transfers with India, Turkey  Russia's No. 2 lender VTB on Thursday said it would increase the number of countries to which retail clients can send money to 25 from 11, with India and Turkey the key, new destinations. VTB was particularly hard hit by sweeping Western sanctions, cut off from transactions in major global currencies and blocked from the international SWIFT payments system soon after Moscow sent tens of thousands of troops into Ukraine on Feb. 24, 2022. "The key destinations in the outloo...
Russia's VTB to launch cross-border transfers with India, Turkey
Russia's VTB to launch cross-border transfers with India, Turkey
Source: ANI
15/06/2023 11:04:12 AM
Turkey joins nuclear power club with Akkuyu plant: Recep Tayyip Erdogan Turkey has joined the club of nuclear power countries with the nuclear fuel delivery into the first power unit of the Akkuyu power plant, President Recep Tayyip Erdogan said. "With the delivery of nuclear fuel by sea and air to our plant, Akkuyu has now acquired the nuclear power plant status. Therefore, our country has risen to the league of countries with nuclear power, albeit after 60 years of delay," Erdogan said at a ceremony via video link, joined by his Russian counterpart...
Turkey joins nuclear power club with Akkuyu plant: Recep Tayyip Erdogan
Turkey joins nuclear power club with Akkuyu plant: Recep Tayyip Erdogan
Source: IANS
28/04/2023 5:46:27 PM
Turkey commissions its largest warship, world's 1st UAV carrier: Erdogan Turkey has commissioned its largest ship, TCG Anadolu, an amphibious assault vessel of the Turkish Navy that can be configured as a landing helicopter dock (LHD) and a drone carrier. Thanks to the multi-purpose ship, Turkey will become the "leader" of game-changing technologies in defence industries, Turkish President Recep Tayyip Erdogan said at the delivery ceremony of the vessel in Istanbul on Monday, Xinhua news agency reported. With a length of 231 meters and a width of 3...
Turkey commissions its largest warship, world's 1st UAV carrier: Erdogan
Turkey commissions its largest warship, world's 1st UAV carrier: Erdogan
Source: IANS
11/04/2023 9:33:40 AM
Land sales in greater Istanbul area on rise after February quake Turkey has seen a booming real estate market since the massive February 6 earthquakes, which was pushed by a souring demand for so-called earthquake-resistant new homes in major cities in western regions, including Istanbul. Real estate agents said Istanbul's land sales increased by 200 per cent in March than the previous month, fuelling a price hike. "A wave of fear has grabbed Istanbulites especially after the disaster," Erdinc Sahin, a real estate consultant, told Xinhu...
Land sales in greater Istanbul area on rise after February quake
Land sales in greater Istanbul area on rise after February quake
Source: IANS
8/04/2023 10:15:20 AM
Turkey to continue talks for extending Black Sea grain deal by 120 days Turkey will continue its contacts with relevant parties for extending the Black Sea Grain Initiative for 120 days, Defence Minister Hulusi Akar said. "We started negotiations in line with the initial version of the agreement, with the idea of extending it for another 120 days ... we will continue our contacts over extending the grain corridor deal for 120 days, instead of two months," he told reporters in Ankara following a parliamentary group meeting of the ruling Justice and De...
Turkey to continue talks for extending Black Sea grain deal by 120 days
Turkey to continue talks for extending Black Sea grain deal by 120 days
Source: IANS
17/03/2023 11:59:52 AM
Turkish currency breaks record low threshold against USD The Turkish currency sank to a record low against the US dollar amid local and global uncertainties. After surpassing the resistance level of 19, $1 stood at 19.01 liras at 2 p.m. on Thursday, reports Xinhua news agency. The currency has lost about 70 per cent of its value against the greenback since the beginning of 2022. Turkish people have long been struggling against rising living costs triggered by a high inflation rate, which hit a 24-year high of 85.51 per cent in October 2022...
Turkish currency breaks record low threshold against USD
Turkish currency breaks record low threshold against USD
Source: IANS
17/03/2023 11:39:30 AM
Turkey`s current account deficit hits nearly $9.85 Billion in January Turkey's central bank has said the country's current account deficit reached nearly $9.85 billion in January, following a rapid increase in gold imports and soaring energy import bills. The central bank's statistics on Monday showed that excluding gold and energy, the current account has a net surplus of $2.6 billion in January. Among items constituting the current account balance, foreign trade in goods recorded a deficit of $12.43 billion, while the services registered a n...
Turkey`s current account deficit hits nearly $9.85 Billion in January
Turkey`s current account deficit hits nearly $9.85 Billion in January
Source: IANS
14/03/2023 10:46:15 AM
Turkey making efforts to extend Black Sea Grain Initiative: Minister Turkey is making efforts to extend the Black Sea Grain Initiative which is set to expire on March 18, Defence Minister Hulusi Akar said in a statement. "We continue our discussions (on the deal) with the UN, Ukraine and Russia, which are the parties to the grain initiative," Xinhua news agency quoted Akar as saying in the statement on Thursday. "Ukraine expressed a positive opinion for a second extension of the initiative. Russia also displays a positive attitude toward i...
Turkey making efforts to extend Black Sea Grain Initiative: Minister
Turkey making efforts to extend Black Sea Grain Initiative: Minister
Source: IANS
10/03/2023 10:54:10 AM
Turkey`s inflation eases for 4th month to 55.18% in Feb Turkey's annual inflation eased for the fourth month in a row to 55.18 per cent in February, the lowest level in the past 12 months, showed official data. Consumer prices registered a month-on-month growth of 3.15 per cent, while the producer price index eased to its lowest level in 15 months by rising 76.61 per cent annually, according to the Turkish Statistical Institute on Friday. Inflation in Turkey hit almost 85.5 per cent, a 24-year high, in October last year after rising for ...
Turkey`s inflation eases for 4th month to 55.18% in Feb
Turkey`s inflation eases for 4th month to 55.18% in Feb
Source: IANS
5/03/2023 9:43:27 AM
Turkey`s inflation eases for 4th month to 55.18% in February Turkey's annual inflation eased for the fourth month in a row to 55.18 per cent in February, the lowest level in the past 12 months, showed official data. Consumer prices registered a month-on-month growth of 3.15 per cent, while the producer price index eased to its lowest level in 15 months by rising 76.61 per cent annually, according to the Turkish Statistical Institute on Friday. Inflation in Turkey hit almost 85.5 per cent, a 24-year high, in October last year after rising for ...
Turkey`s inflation eases for 4th month to 55.18% in February
Turkey`s inflation eases for 4th month to 55.18% in February
Source: IANS
4/03/2023 10:40:57 AM
Finance Minister Nirmala Sitharaman holds virtual meeting with IMF chief During a virtual meeting with IMF chief Kristalina Georgieva, Union Finance Minister Nirmala Sitharaman on Thursday said that debt discussions will be at the forefront during the forthcoming meeting of the G20 Finance Ministers Central Bank Governors (FMCBGs) slated to be held in Bengaluru later this month. India will continue to support the ongoing efforts for orderly and timely implementation of the common framework, the Minister said during the meeting. Along with addressing debt vul...
Finance Minister Nirmala Sitharaman holds virtual meeting with IMF chief
Finance Minister Nirmala Sitharaman holds virtual meeting with IMF chief
Source: Accord Fintech
9/02/2023 12:16:01 PM
Turkey`s annual inflation fell to 64.27% in December  Turkey's annual inflation fell sharply to 64.27 per cent in December 2022 due to a base effect, official data has revealed. The decline was in line with expectations and owed largely to the statistical effect of the high base in the same month of 2021, reports Xinhua news agency citing the the Turkish Statistical Institute as saying. Consumer prices increased by 1.18 percent in December from the previous month, according to the Institute. In the last report of the Turkish c...
Turkey`s annual inflation fell to 64.27% in December
Turkey`s annual inflation fell to 64.27% in December
Source: IANS
4/01/2023 10:26:09 AM
Turkish exports reach record high in 2022: Recep Tayyip Erdogan Turkish President Recep Tayyip Erdogan announced that the country's exports in 2022 reached a record high of $254.2 billion, registering a year-on-year growth of 12.9 per cent. "Our goal now is to make Turkey one of the top 10 exporting countries," Erdogan told the Turkey Exporters Assembly in Istanbul on Monday. He added that exports were only $36 billion when the ruling Justice and Development Party came to power 20 years ago, reports Xinhua news agency. According to ...
Turkish exports reach record high in 2022: Recep Tayyip Erdogan
Turkish exports reach record high in 2022: Recep Tayyip Erdogan
Source: IANS
3/01/2023 11:24:10 AM
Turkey revises up reserves in offshore gas fields: Minister Fatih Donmez Turkey has revised up its natural gas recoverable reserves in the Sakarya gas field off the Black Sea coast after a re-evaluation work in the existing wells and a new discovery in the field, Energy and Natural Resources Minister Fatih Donmez said. The total amount of recoverable reserves in this field is now calculated to be 710 billion cubic meters (bcm), Donmez said at a media briefing. The country announced its first discovery in the Black Sea with 405 bcm reserves in the Tuna-1 well...
Turkey revises up reserves in offshore gas fields: Minister Fatih Donmez
Turkey revises up reserves in offshore gas fields: Minister Fatih Donmez
Source: IANS
28/12/2022 10:58:27 AM
Turkish President vows to sharply ease inflation in 2023 Turkish President Recep Tayyip Erdogan has pledged to sharply slow the inflation in the coming months and relieve Turkish citizens of the burden of a high cost of living. "Hopefully, we will witness that inflation will go downhill in the coming months. Let's make 2023 the turning point of our liberation from the trouble of living cost," Erdogan told his party members at the parliament on Wednesday. The world has been struggling with waves of economic crisis, but Turkey has...
Turkish President vows to sharply ease inflation in 2023
Turkish President vows to sharply ease inflation in 2023
Source: IANS
22/12/2022 12:17:55 PM
Gold eases in narrow range as traders eye economic data Gold prices eased in a tight range on Wednesday as the U.S. dollar firmed, although bullion was not far from a one-week high scaled in the previous session as traders looked ahead to impending economic data later this week. Spot gold fell 0.2% to $1,813.23 per ounce by 0957 GMT, after rising more than 1% on Tuesday on the back of a dip in the dollar. U.S. gold futures eased 0.2% to $1,822.70. "After yesterday's sharp rally, traders are waiting for fresh cues, especially from to...
Gold eases in narrow range as traders eye economic data
Gold eases in narrow range as traders eye economic data
Source: Reuters
21/12/2022 9:58:29 AM
How Governments are trying to ease impact of inflation Pandemic-related disruptions to global supply chains and the knock-on effects of Russia's war in Ukraine have driven up prices of energy, commodities and necessities. Here's how governments are trying to help hard-hit consumers and companies: AMERICAS: * Brazil's Senate approved raising the government spending cap, allowing the president-elect's incoming administration to fund an extension of social welfare payments for poor families. Oil giant Petrobras has cut fuel ...
How Governments are trying to ease impact of inflation
How Governments are trying to ease impact of inflation
Source: Reuters
17/12/2022 9:51:28 AM
TVS Motor Company rises on planning to launch Euro-5 two-wheelers in Turkey TVS Motor Company is currently trading at Rs. 1044.90, up by 7.45 points or 0.72% from its previous closing of Rs. 1037.45 on the BSE. The scrip opened at Rs. 1045.00 and has touched a high and low of Rs. 1048.00 and Rs. 1041.30 respectively. So far 10903 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1177.00 on 19-Oct-2022 and a 52 week low of Rs. 513.00 on 07-Mar-2022. Last one week high and low of the scrip ...
TVS Motor Company rises on planning to launch Euro-5 two-wheelers in Turkey
TVS Motor Company rises on planning to launch Euro-5 two-wheelers in Turkey
Source: Accord Fintech
14/12/2022 11:17:44 AM
Recep Tayyip Erdogan, Vladimir Putin discuss grain deal, Syrian security Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin discussed Turkey-Russia relations, including the exports through the Black Sea grain corridor and the fight against terrorism along the Turkish-Syrian border, Turkey's presidency said in a statement. Erdogan told Putin in a phone call that the grain deal ensured over 13 million ton of grain reaching those in need, noting that they could start "working on the export of different food products and grad...
Recep Tayyip Erdogan, Vladimir Putin discuss grain deal, Syrian security
Recep Tayyip Erdogan, Vladimir Putin discuss grain deal, Syrian security
Source: IANS
12/12/2022 12:09:22 PM
Instant grocery delivery app Getir acquires rival Gorillas for $1.2 bn Quick grocery delivery platform Getir has announced that it is acquiring its German rival platform Gorillas in a deal that has been reported to be around $1.2 billion. The Financial Times first reported that Getir has closed the acquisition of its competitor. "Markets go up and down, but consumers love our service and convenience is here to stay. The super fast grocery delivery industry will steadily grow for many years to come and Getir will lead this category it created 7 years a...
Instant grocery delivery app Getir acquires rival Gorillas for $1.2 bn
Instant grocery delivery app Getir acquires rival Gorillas for $1.2 bn
Source: IANS
10/12/2022 11:23:36 AM
IndiGo surges on launching connecting flights to Austria, France via Turkey Interglobe Aviation is currently trading at Rs. 1913.90, up by 2.15 points or 0.11% from its previous closing of Rs. 1911.75 on the BSE. The scrip opened at Rs. 1904.90 and has touched a high and low of Rs. 1921.95 and Rs. 1888.45 respectively. So far 10567 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2282.25 on 10-Feb-2022 and a 52 week low of Rs. 1513.30 on 20-Jun-2022. Last one week high and low of the sc...
IndiGo surges on launching connecting flights to Austria, France via Turkey
IndiGo surges on launching connecting flights to Austria, France via Turkey
Source: Accord Fintech
30/11/2022 2:09:19 PM
Demand for Russian crude rises in India, China Vessel tracking data suggest that the demand for Russian crude oil seems to be picking up, especially among India, China, and Turkey, according to media reports. The three countries have been Russia's most reliable buyers of its crude during its ongoing conflict with Ukraine amid sanctions threat, reports said. Shipments of crude oil leaving Russian ports marked for ambiguous locations, seem to be ending up either in India or even to China, reports quoting vessel tracking data said....
Demand for Russian crude rises in India, China
Demand for Russian crude rises in India, China
Source: IANS
19/10/2022 9:39:10 AM
Adani Skill Development wins Gold Stevie Award 2022 The Adani Skill Development Centre (ASDC), a not-for-profit initiative of the Adani Foundation and the Adani Group, has been conferred with the Gold Stevie Award in the 'Organization of the Year - Non-Profit or Government Organizations - Medium-size category at an event held in London on October 15. The ASDC is the first Indian organisation to secure the Gold award in this category. It contended for the first place against Jeunesse Global, the US; TM Forum, London; Cement Industry Empl...
Adani Skill Development wins Gold Stevie Award 2022
Adani Skill Development wins Gold Stevie Award 2022
Source: IANS
18/10/2022 3:41:25 PM
India sees Russia as longstanding, time-tested friend: Indian envoy to Russia  India sees Russia as a longstanding and time-tested friend that has played a significant role in its economic development and security, Indian Ambassador to Russia, Pavan Kapoor, said here on Monday. The members of CII Punjab State on Monday interacted with heads of Indian Missions in the US, the Netherlands, Russia, Turkey, Mongolia and Togo. Taranjit Singh Sandhu, Ambassador of India to the US, Reenat Sandhu, Indian Ambassador to the Netherlands, Pavan Kapoor, Virander Kumar Pau...
India sees Russia as longstanding, time-tested friend: Indian envoy to Russia
India sees Russia as longstanding, time-tested friend: Indian envoy to Russia
Source: IANS
18/10/2022 11:18:56 AM
Interglobe Aviation trades higher on the BSE Interglobe Aviation is currently trading at Rs. 1750.00, up by 2.65 points or 0.15 % from its previous closing of Rs. 1747.35 on the BSE. The scrip opened at Rs. 1747.35 and has touched a high and low of Rs. 1764.55 and Rs. 1737.00 respectively. So far 7751 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2379.00 on 16-Nov-2021 and a 52 week low of Rs. 1513.30 on 20-Jun-2022. Last one week high and low of the sc...
Interglobe Aviation trades higher on the BSE
Interglobe Aviation trades higher on the BSE
Source: Accord Fintech
13/10/2022 11:37:00 AM
Indian rice shipments stuck at ports, traders seek government help At least 20 ships are waiting to load around 600,000 tonnes of rice at Indian ports as New Delhi's surprise export restrictions have trapped cargoes for nearly a fortnight, forcing sellers to pay demurrage charges, industry officials told Reuters. India banned exports of broken rice and imposed a 20% duty on exports of various other types on Sept. 8, as the world's biggest exporter of the grain tries to boost local supplies and calm prices after below-average monsoon rainfall ...
Indian rice shipments stuck at ports, traders seek government help
Indian rice shipments stuck at ports, traders seek government help
Source: Reuters
20/09/2022 2:24:11 PM
Amid inflation, Turkey launches massive housing project for low-income families  Low-income families in Turkey started submitting applications for a massive social housing project that President Recep Tayyip Erdogan described as the largest such initiative in the history of the country currently in the grip of rising inflation. The five-year project was announced by Erdogan on Tuesday, as the government battles rising housing and rental costs as well as a 24-year-high inflation rate of more than 80 per cent in August, reports Xinhua news agency. Under the proj...
Amid inflation, Turkey launches massive housing project for low-income families
Amid inflation, Turkey launches massive housing project for low-income families
Source: IANS
15/09/2022 10:59:24 AM
Over half a million tonnes of grain exported from Ukraine: United Nations More than half a million tonnes of grain have been exported from Ukraine across the Black Sea since the beginning of August, the UN said. Since Ukraine, Russia, Turkey and the UN agreed to open the Black Sea route at the end of July, 36 passages have been approved, the UN said on Tuesday, adding that 21 ships left Ukraine for the Bosporus and 15 moved through the strait in the direction of the war-torn country. A total of 27 freighters were searched in Turkey as stipulated by the agreem...
Over half a million tonnes of grain exported from Ukraine: United Nations
Over half a million tonnes of grain exported from Ukraine: United Nations
Source: IANS
17/08/2022 12:29:26 PM
Deal on Ukraine`s grain exports to be signed today in Turkiye An agreement to resume grain shipment from Ukrainian ports through the Black Sea will be signed in Turkiye on Friday in a bid to resolve a global food crisis, Turkish Foreign Minister Mevlut Cavusoglu has confirmed. "Tomorrow, we will take the first step in Istanbul towards the solution of the food crisis affecting the whole world, together with the UN secretary-general, the delegations of Russia and Ukraine," Cavusoglu tweeted on Thursday. "We will continue our efforts t...
Deal on Ukraine`s grain exports to be signed today in Turkiye
Deal on Ukraine`s grain exports to be signed today in Turkiye
Source: IANS
22/07/2022 9:35:56 AM
Yellen: U.S. talks with India on price cap on Russian oil `encouraging` U.S. Treasury Secretary Janet Yellen described as "encouraging" talks with India about a proposed price cap on Russian oil that Washington is pushing to drive down oil prices and make it harder for Moscow to fund its war in Ukraine. Yellen, who arrived in Seoul on Monday evening, told Reuters in an interview en route to the South Korean capital that she was feeling generally positive about the initiative. “We’ll see where they come out. The conversations I’ve...
Yellen: U.S. talks with India on price cap on Russian oil `encouraging`
Yellen: U.S. talks with India on price cap on Russian oil `encouraging`
Source: IANS
18/07/2022 3:17:48 PM
Turkeys inflation hits two-decade high Turkey's annual inflation surged to 78.62 per cent in June, the highest since 1998, according to official figures. The Turkish Statistical Institute announced on Monday that the consumer prices increased by 4.95 per cent month-on-month in June, reports Xinhua news agency. The highest annual price surge was in the transportation sector with 123.37 per cent, while the cost of food and non-alcoholic drinks increased 93.93 per cent, while furnishings and household equipment prices were ...
Turkeys inflation hits two-decade high
Turkeys inflation hits two-decade high
Source: IANS
5/07/2022 11:15:22 AM
Ukraine negotiating with Turkey, United Nations over grain export through ports: Volodymyr Zelensky Ukrainian President Volodymyr Zelensky has said that his country is presently negotiating with Turkey and the UN regarding the export of grain through ports. During a briefing in Kiev on Monday alongside visiting Swedish Prime Minister Magdalena Anderson, Zelensky said that implementing this project "will be difficult in some places, but definitely possible", because both Ukraine, as a grain exporting country, and farmers, who need exports to prepare for next year's sowing, a...
Ukraine negotiating with Turkey, United Nations over grain export through ports: Volodymyr Zelensky
Ukraine negotiating with Turkey, United Nations over grain export through ports: Volodymyr Zelensky
Source: IANS
5/07/2022 10:17:33 AM
Turkey plans to have 10 satellites in space by 2023 Turkey plans to have a total of 10 satellites in space by 2023 as part of its national space programme, Turkish President Recep Tayyip Erdogan has said. "This satellite marks another turning point in our space adventure. With the national space programme, it is our duty of honor to defend our country's rights in space just like on land, at sea and in air," Erdogan said at a ceremony to mark the TURKSAT 5B satellite's entry into service. The TURKSAT 5B satellite, launch...
Turkey plans to have 10 satellites in space by 2023
Turkey plans to have 10 satellites in space by 2023
Source: IANS
15/06/2022 12:29:45 PM
Erdogan vows more interest cuts despite 24-yr-high inflation Turkey will continue to lower interest rates rather than increasing them, President Recep Tayyip Erdogan said, amid growing concerns about a surge in the country's inflation to a 24-year high. Defending his government's easing monetary policy, Erdogan told reporters on Monday that the government is implementing its own "genuine" economic programme, reports Xinhua news agency. Turkey is an "independent" country that can determine and implement its own politica...
Erdogan vows more interest cuts despite 24-yr-high inflation
Erdogan vows more interest cuts despite 24-yr-high inflation
Source: IANS
7/06/2022 10:10:52 AM
Turkey, UAE pledge to boost cooperation, sign trade agreement Turkey and the UAE pledged to boost their cooperation in a wide range of fields by increasing mutual investment opportunities. "We are working with all our institutions to improve our relations in a broad spectrum from trade to agriculture, from the defence industry to health and tourism," Turkish Foreign Minister Mevlut Cavusoglu said at a joint press conference with UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan in Istanbul. ...
Turkey, UAE pledge to boost cooperation, sign trade agreement
Turkey, UAE pledge to boost cooperation, sign trade agreement
Source: IANS
28/05/2022 9:54:55 AM
France's Atos moves Russian services to India and Turkey French IT consulting group Atos said on Wednesday that in light of the conflict in Ukraine, it was moving services currently delivered from Russia to other countries, including India and Turkey. The feasibility of exiting Russia has required significant planning in terms of implications for business operations and employees based there, the company added in an earnings statement.
France's Atos moves Russian services to India and Turkey
France's Atos moves Russian services to India and Turkey
Source: Reuters
27/04/2022 10:55:31 AM
Turkey's annual inflation hits record high Turkey's annual inflation hit a new record high at 61.14 per cent in March, featuring rising energy and food prices, the country's Statistical Institute announced on Monday. The country's consumer prices rose by 5.46 per cent month on month in March, according to the data released by the institute. The highest annual price increase was in transport with 99.12 per cent, followed by foods and non-alcoholic beverages with 70.33 per cent, and furnishings and household equipment ...
Turkey's annual inflation hits record high
Turkey's annual inflation hits record high
Source: IANS
4/04/2022 4:16:56 PM
Turkey's inflation hits 54.44%, highest in 20 yrs Turkey's annual inflation rose by 54.44 per cent in February, the highest since 2002, the country's Statistical Institute announced. The country's consumer prices soared 4.81 per cent month on month in February, according to the Institute's data. Meanwhile, the producer price index increased by 7.22 per cent on a monthly basis, with an annual rise of 105.01 per cent, Xinhua news agency reported citing the data. In February, the highest annual price increase was in tra...
Turkey's inflation hits 54.44%, highest in 20 yrs
Turkey's inflation hits 54.44%, highest in 20 yrs
Source: IANS
4/03/2022 2:55:07 PM
Oil highest since 2014 as Turkey outage adds to tight supply outlook LONDON   -Oil prices rose for a fourth day on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about an already tight short term supply outlook. Brent crude futures rose 48 cents, or 0.6%, to $87.99 a barrel at 1245 GMT, adding to a 1.2% jump in the previous session. The benchmark contract touched $89.05, its highest since Oct. 13, 2014. U.S. West Texas Intermediate (WTI) crude futures climbed 66 cents, or 0.8%, to $86.09 a ba...
Oil highest since 2014 as Turkey outage adds to tight supply outlook
Oil highest since 2014 as Turkey outage adds to tight supply outlook
Source: Reuters
19/01/2022 8:08:37 PM
Oil highest since 2014 as Turkey outage adds to tight supply outlook SINGAPORE -Oil prices rose for a fourth day on Wednesday as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates. Brent crude futures rose 87 cents, or 1%, to $88.38 a barrel at 0543 GMT, adding to a 1.2% jump in the previous session. The benchmark contract climbed to as much as $89.05, its highest since Oct. 13, 2014. U.S. West Texas Intermediate (WTI) crude futur...
Oil highest since 2014 as Turkey outage adds to tight supply outlook
Oil highest since 2014 as Turkey outage adds to tight supply outlook
Source: Reuters
19/01/2022 12:46:00 PM
Hikes in energy prices further strain Turks' livelihood  A series of price hikes in natural gas, electricity, and petrol have further strained the livelihood of Turkish people, who are already mired in soaring inflation and national currency depreciation. At the start of the new year, electricity prices went up by 50 per cent for lower-demand households and 125 per cent for high-demand commercial users, Xinhua news agency reported. Natural gas prices jumped by 25 per cent for residential use and 50 per cent for industrial use, while pet...
Hikes in energy prices further strain Turks' livelihood
Hikes in energy prices further strain Turks' livelihood
Source: IANS
5/01/2022 3:28:54 PM
Dollar finds its footing; Turkish lira holds its gains LONDON  - The dollar rose on Wednesday while the euro and riskier currencies like the Australian dollar dipped as traders prepared for more volatility and the impact of rising cases of the COVID-19 variant Omicron. Turkey's lira steadied and held to its recent gains amid a rollercoaster ride for the currency this week. Foreign exchange moves were largely small, however, with trading volumes thinner ahead of the holiday season. The Australian dollar lost as much as 0.4% to $0...
Dollar finds its footing; Turkish lira holds its gains
Dollar finds its footing; Turkish lira holds its gains
Source: Reuters
22/12/2021 3:17:32 PM
Apple resumes product sales in Turkey, increasing prices by 25% Apple recently closed its business in Turkey due to concerns about the sharp drop in the exchange rate of the Turkish lira and now a new report has claimed that the iPhone maker has resumed sales of products in the country. According to MacRumors, Apple has also significantly increased the price of all of its products in the country as a result of inflation. Customers purchasing the iPhone 13 Pro in Turkey will now be charged 19.999 TL, up from 14.999 TL earlier this week, the Apple Wat...
Apple resumes product sales in Turkey, increasing prices by 25%
Apple resumes product sales in Turkey, increasing prices by 25%
Source: IANS
28/11/2021 2:06:24 PM
Soaring prices prompt concerns amid currency drop in Turkey Turkish citizens are having increasing difficulties coping with the rising prices of almost every item amid high inflation and the national currency depreciation. Turkish currency lira has lost about 40 per cent of its value this year against the US dollar, while the annual inflation hit almost 20 per cent in October. The currency tumbled to a fresh historic low against the greenback on Tuesday, and one dollar was traded at 13.50 liras. Grocery stores, shops and supermarkets in Turke...
Soaring prices prompt concerns amid currency drop in Turkey
Soaring prices prompt concerns amid currency drop in Turkey
Source: IANS
27/11/2021 9:13:59 AM
Turkey further cuts rates, lira dips to new record low The Turkish central bank lowered interest rates for the third successive month despite high inflation, causing the embattled national currency lira to sink to new historic lows against the US dollar. The Monetary Policy Committee (MPC) of the bank decided during a key meeting to lower the benchmark interest rate to 15 per cent with a cut of 100 basis points. The bank has previously lowered rates by 300 basis points since August, in line with Turkey's President Recep Tayyip Erdogan&#...
Turkey further cuts rates, lira dips to new record low
Turkey further cuts rates, lira dips to new record low
Source: IANS
19/11/2021 11:41:04 AM
Turkey allows quarantine free access to fully vaccinated Indian passengers Turkey has declared that fully vaccinated travellers from India will no longer be subjected to mandatory 14-day quarantine rule, with effect from Saturday. According to the announcement, travel restrictions will be eased for fully vaccinated passengers of 12 years of age and older travelling from India or stayed in India in last 14 days. "The vaccines that have been approved by WHO or Turkish Government are covered under this exemption," said the Culture and Tourism Office of ...
Turkey allows quarantine free access to fully vaccinated Indian passengers
Turkey allows quarantine free access to fully vaccinated Indian passengers
Source: IANS
4/09/2021 2:39:45 PM
Turkey rejoins 2021 F1 calendar The Turkish Grand Prix has rejoined the 2021 Formula One calendar and will replace the Singapore Grand Prix on October 3. F1 had originally planned to stage the Istanbul race on June 13 as a replacement for the Canadian Grand Prix, but was forced to shelve those plans owing to travel restrictions between Turkey and Britain, where six of F1's ten teams are based, reports Xinhua. Travel restrictions had also led to the cancellation of the Singapore race, which was announced earlier th...
Turkey rejoins 2021 F1 calendar
Turkey rejoins 2021 F1 calendar
Source: IANS
26/06/2021 12:21:55 PM