The number of corporate bankruptcies will likely increase 4 percent in 2017 from the previous year, as losses in the value of the Turkish Lira hit companies that hold debts in foreign exchange currencies, a leading credit insurance company stated on Nov. 15.
A Japanese railway operator has issued a deep apology for the "tremendous nuisance" caused by a train departing 20 seconds early, surprising even a nation renowned for both punctuality and politeness.
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 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.
Twenty countries and two U.S. states have joined an international alliance to phase out coal from power generation before 2030, environment ministers said on Nov. 16.
Dubai-based Abraaj Group will complete at least one acquisition in Turkey in the first half of next year, a senior executive said on Nov. 15, as it looks to deploy the remainder of its $500 million Turkey fund.
A road and rail corridor connecting war-torn Afghanistan with Turkey and Europe was signed off by officials from five countries on Nov. 15 in Turkmenistan’s capital Ashgabat.
The central banks of Turkey and Qatar have signed a memorandum of understanding to develop bilateral cooperation in Qatar’s capital Doha, the Turkish Central Bank announced 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.”