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Tuesday, September 13 2011 , Your time is 15:58:00
Turkish President Recep Tayyip Erdoğan is set to hold a meeting late on Jan. 16 with top economy officials, including ministers, senior civil servants and Central Bank Gov. Murat Çetinkaya, to discuss the recent volatility in the Turkish Lira and other economic developments, according to sources
ALMATY/ISTANBUL - Reuters
Dramatic losses in Kazakhstan’s currency, the tenge, after the country’s transition to a free floating rate may negatively affect a number of Turkish companies that are very active in the country, according to analysts
Sevil Erkuş - ANKARA
The weakness of the Turkish Lira against the U.S. dollar has placed an extra 11 billion lira ($3.82 billion) burden on Turkey’s natural gas bill since the beginning of the year, Energy Minister Taner Yıldız said on Aug. 19
Eurogroup President Jeroen Dijsselbloem urged Greece on Aug. 21 to hold elections as soon as possible to avoid delays in implementing the country’s third bailout package after Prime Minister Alexis Tsipras to call early elections next month
ISTANBUL - Reuters
Turkey’s Lira plumbed a new record low against the U.S. dollar on Aug. 19 after the Central Bank failed to assuage investor concerns about its ability to defy political pressure and lift rates.
Turkish consumer confidence fell to its lowest in more than six years in August, official data showed on Aug. 21, bruised by political uncertainty, mounting militant violence in the southeast and the Turkish Lira’s tumble to a record low.
ISTANBUL - Anadolu Agency
The precipitous fall in the value of the Turkish Lira does not portend a crisis in Turkey, a key advisor to President Recep Tayyip Erdoğan said on Aug. 19.
Güneş Kömürcüler - ISTANBUL
Food prices will increase in the coming months, as it is not possible for agricultural producers to endure such a huge loss in the Turkish Lira, said a sector representative, adding his company’s maximum lira-U.S. dollar parity projection for this year was 2.7 before the election
ANKARA - Anadolu Agency
Transport Minister Feridun Bilgin has said preparation works are ongoing for a new metro line between the Kaynarca district on Istanbul’s Asian side and Sabiha Gökçen Airport.
Deniz Zeyrek - ANKARA
Turkish Prime Minister Ahmet Davutoğlu said the rise in the U.S. dollar’s value is reflexive, and not a signal of any structural or permanent economic crisis in Turkey, during a meeting with a group of Ankara correspondents on Aug. 19.
ATHENS - Doğan News Agency
International ratings company Fitch has upgraded Greece’s credit rate by one notch, right after the declaration of first privatization project turning over 14 major airports to a German company, following a new credit agreement having been reached with the tripartite committee of Troika consisting of European Union
ATHENS - Agence France-Presse
Greece has repaid 3.4 billion euros ($3.79 billion) due to the European Central Bank on Aug. 20, a source close to the Greek government said after the launch of a massive new reforms-for-bailout deal
TOKYO - Reuters
Japan and Iran will start negotiations on an investment accord once sanctions are lifted following last month’s landmark international deal on Tehran’s nuclear program, the Nikkei reported on Aug. 19, citing Japanese government sources.