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Tuesday, September 13 2011 , Your time is 15:58:00
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.
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.
Turkey’s Unit International has signed a $7 billion agreement with Russia’s state-owned Zarubezhneft and Iran’s Ghadir Investment Holding to drill for oil and natural gas in Iran, the company said on Aug. 15.
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 - Anadolu Agency
Turkey ran a budget deficit of 24.3 billion Turkish liras (nearly $6.7 billion) in the first seven months of 2017, Finance Minister Naci Ağbal said on Aug. 15.
Britain’s unemployment rate has struck a new 44-year low, official data showed on Aug. 16, as the uncertainty of Brexit boosts temporary hirings.The rate dipped to 4.4 percent in the three months to June to record the lowest level since 1975, the Office for National Statistics (ONS) said in a statement. It had stood at 4.5 percent in the quarter to May.
Britain has said it wants an interim customs agreement with the European Union after Brexit to allow the freest possible trade of goods, but that it will also seek the right to negotiate other trade deals -- a possible sticking point in the talks.
China’s massive debt is on a “dangerous” path, raising the risk of a sharp slowdown in growth, the International Monetary Fund warned on Aug. 15, urging Beijing to speed up structural reforms.
Strong household spending, rising state expenditure and higher company investments consolidated Germany’s role as the eurozone growth engine in the second quarter, although accelerating imports meant growth came in just below expectations.
Rolls-Royce and Sanmar Shipyards in Turkey have signed a contract for the delivery of eight MTU Series 4000 engines for four new terminal tugs, including an option for a further four engines, Rolls-Royce said in a statement on Aug. 15.
Trade tensions between the United States and China heated up on Aug. 15 as Beijing warned that it “will not sit idle” if a U.S. probe into its intellectual property practices leads to sanctions.
The short-term foreign debt held by Turkey’s private sector increased by $2 billion at the end of June from the end of 2016, the country’s central bank announced on Aug. 16.
LONDON - Reuters
One of the most vocal pro-Brexit campaign groups launched a campaign on Aug. 14 to oust finance minister Philip Hammond from parliament, saying he is part of a plot to stop Britain leaving the European Union.