Moody’s on Nov. 17 upgraded India’s credit rating for the first time in more than a decade, citing economic reforms introduced under Prime Minister Narendra Modi.
Tesla Inc upstaged its own debut of an electric heavy duty truck on Nov. 16 when a red Roadster pulled out of the big rig’s trailer and Chief Executive Elon Musk said the new $200,000 sports car would be the fastest production car ever.
Turkey’s Culture and Tourism Minister said on Nov. 16 that Turkey ranks second in television series exports after the U.S.
Turkey’s banking regulator has assured creditors of Oger Telecom, which is the main shareholder in Türk Telekom, that a $4.75 billion syndicated loan will not go to default and they don’t have to re-classify it as “non-performing,” its head told Reuters on Nov. 16. The move will likely help Oger Telecom avoid costly write-downs.
Sales and bookings in shops and hotels in one of Barcelona’s most popular neighbourhoods dipped by up to 30 percent last month amid the region’s independence crisis, an industry representative said on Nov. 16.
An official competition investigation committee has demanded that seven out of 13 global banks probed in Turkey for violating competition rules be fined up to 4 percent of their sales revenue, on the grounds that their actions “amounted to the acts as a cartel.”
Turkish Development Minister Lütfi Elvan met Singaporean Trade and Industry Minister S. Iswaran on Nov. 15, and agreed to boost economic ties between the two countries further, according to a Turkish ministry source.
Japan reports its economy expanded at a 1.4 percent annualized rate in July-September, slowing from the previous quarter.
Turkey ran a budget deficit of 35 billion Turkish Liras ($9 billion) in the first 10 months of this year and a budget deficit of 3.3 billion liras (around $848.8 million) in October, the Finance Ministry revealed on Nov. 15.
More than nine million foreign tourists visited Istanbul in the first 10 months of the current year, according to the Culture and Tourism and Ministry.
Defense giant Aselsan, 85 percent of which is owned by the Turkish Armed Forces Foundation, became the most valuable company listed on the Istanbul main stock exchange (BIST) on Nov. 14, surpassing Garanti Bank and Koç Holding early.