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Tuesday, September 13 2011 , Your time is 15:58:00
European Central Bank governors expressed concern over the strength of the euro at their last meeting in July, minutes showed on Aug. 17, complicating their attempts to ease away from stimulus without undermining the recovery.
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.
The European Central Bank left its ultra easy monetary policy stance unchanged as expected on July 20, keeping rates at record lows and even leaving the door open to more asset buys if the outlook worsens.
ANKARA - Anadolu Agency
Turkey’s Akbank announced on Aug. 15 that it had secured another $1.15 billion equivalent multi-currency syndicated loan for 2017.
Turkish banking sector is regulated and monitored more favorable than emerging economies, but it is still reliant on short-term external debt, according to global rating agency Standard and Poor’s.
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
ISTANBUL - Anadolu Agency
The combined net profits of Turkey’s banking sector rose by 50 percent year-on-year to 21.2 billion Turkish liras ($6 billion) in the first five months of 2017, according to the Banking Regulation and Supervision Agency (BDDK).
The euro rose to 4.1890 against the Turkish Lira early on Aug. 2, after a 0.6 percent increase compared to previous trading, hitting an all-time high against the lira.
ANKARA/ISTANBUL - Anadolu Agency
Turkey’s benchmark index advanced by 0.25 percent to stand at 100,440.39 points at the close of June 30, marking a 0.80-percent rise compared with last week.
The Central Bank kept its main interest rates steady on July 27, in line with market expectations, noting that it would maintain its tight monetary policy until the inflation outlook improves significantly.
LONDON - Agence France-Presse
The euro led a broad advance in currencies against the greenback on June 29 after a string of central bankers hinted at an end to loose monetary policies that have been in place since the financial crisis.
WASHINGTON - Reuters
The Federal Reserve kept interest rates unchanged on July 26 and said it expected to start winding down its massive holdings of bonds “relatively soon” in a sign of confidence in the U.S. economy.
LONDON - Reuters
Five decades since it heralded a transformation in the way people obtained and used cash, the world’s first ATM was turned into gold for celebrations of its fiftieth anniversary.