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Tuesday, September 13 2011 , Your time is 15:58:00
Ankara is a “crucial” trade partner for Moscow, Russian Energy Minister Alexander Novak said on Aug. 18.
Turkey ranked in second place after China for the number of contracting companies building the largest volume of projects across the world outside their home countries for the 10th year in a row, according to the latest list of the world’s “top 250 contractors” by the magazine Engineering News Record (ENR).
Turkish conglomerate Koç Holding’s second-quarter net profit rose to 1.42 billion Turkish Liras ($402.8 million) from 918.1 million liras in the same period a year earlier, it said in a statement to the Istanbul stock exchange on Aug. 18.
Sabancı Holding, a prominent Turkish conglomerate, saw its consolidated sales increase 11 percent to 19.2 billion Turkish Liras (around $5.45 billion) year-on-year in the first half of 2017, the business said on Aug. 18.
The chairman of Taiwan gas supplier CPC Corp resigned on Aug. 18, three days after a power blackout hit businesses and homes across the island, affecting nearly seven million households.
Auto industry groups from Canada, Mexico and the United States are pushing back against the Trump administration’s demand for higher U.S. automotive content in a modernized North American Free Trade Agreement.
As the United States, Canada and Mexico kick off negotiations on Aug. 16 to modernize the North American Free Trade Agreement, the biggest uncertainty is whether a deal can pass President Donald Trump’s “America First” test.
Air Berlin, Germany’s second-largest airline, filed for bankruptcy protection on Aug. 15 after key shareholder Etihad Airways withdrew funding following years of losses, leaving valuable runway slots up for grabs.
Ankara and Berlin remain split on many subjects and an expansion of the customs union deal between the European Union and Turkey will not be on the agenda in the near future, German Chancellor Angela Merkel has stated.
Turkey’s Akbank announced on Aug. 15 that it had secured another $1.15 billion equivalent multi-currency syndicated loan for 2017.
Turkey is set to remove obstacles before companies that cannot trade on Borsa Istanbul due to their inability to generate period profits because of their investment financing expenses
State-owned Ziraat Bank, one of Turkey’s largest lenders, announced late on Aug. 15 its second quarter net profits rose 21.7 percent on the year to 2.2 billion Turkish Liras ($622.37 million), mainly thanks to a strong growth in loans and net interest income.
Turkey’s unemployment rate declined to 10.5 percent in the April period, which covered data from March to May
U.S. job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate increase this year despite benign inflation.
Discussions between labor unions and the government over wage rises for millions of civil servants and retired civil servants in Turkey for 2018 and 2019 began on Aug. 1
Saudi Arabia and Iraq are to launch a joint trade commission, the Saudi cabinet announced on Aug. 14, in a sign of a thaw in ties between the two neighbors.
A Turkish-Korean consortium is set to establish Turkey’s first solar panel production facility in the capital Ankara in line with a giant energy project.
Gazprom said on Aug. 14 that new U.S. sanctions against Moscow would not result in the Russian gas exporter having to make changes to key projects, although they could cause delays.
Hotel investments across Turkey accelerated in the first half of the year after a tough period for the tourism industry, with the country’s Black Sea region seeing a number of new hotels amid a flock of tourists from Middle Eastern markets.
Turkey’s struggling tourism sector may lose up to $30 billion over the three-year period covering 2016, 2017 and 2018 if a number of key measures are not taken
Turkey’s embattled tourism sector is pleased with the extension of a public holiday for the upcoming Eid al-Adha (Feast of Sacrifice) to 10 days, during which around 1 million people travel and create 1 billion Turkish Liras in additional revenue for the sector.