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Turkish markets rally, airlines surge, on oil price slide ISTANBUL: Turkish shares and bonds hit their highest levels since mid-2013 on Friday, with airlines surging in particular, after a slump in oil prices raised hopes of lower inflation and interest rate cuts. The two-year benchmark bond yield dropped to 7.49 percent, its lowest since July 2013, while the 10-year benchmark yield fell to 7.71 Istanbul's main share index ended the morning session up 0.93 percent at 85,479.04 points, having hit its highest level since May 31 last year when nationwide anti-government protests began to dent investor confidence in Turkey. "We expect the positive impact of the more than 7 percent fall in oil prices on BIST (Istanbul stock exchange) to continue," Oyak Securities said in a note. "The index will maintain its target position of 86,500-87,000 resistance levels, will support at 83,000 points technically," Oyak said.The Turkish lira firmed to 2.2113 against the dollar by 1056 GMT from 2.2160 ...

Oil steadies near 4-year low as glut looms after OPEC LONDON: Brent crude oil steadied below $73 a barrel on Friday after hitting a fresh four-year low in the wake of OPEC's decision not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls on Thursday from poorer members of the Organization of the Petroleum Exporting Countries for output reductions, triggering a rout in oil markets."We are seeing continued oversupply," said Bill Hubard, chief economist at Markets.com. "I ...
Oil falls $3 to 4-year low after OPEC leaves output unchanged LONDON: Brent crude oil fell more than $3 to a fresh four-year low under $75 a barrel on Thursday after OPEC decided not to cut production, despite a huge oversupply in world markets.Asked whether the oil producer group had decided not to reduce production, Saudi Arabian Oil Minister Ali al-Naimi told reporters: "That is right."Oil prices have fallen by more than a third since June as increasing production in North America from shale oil has ...
Oil falls $2 to 4-year low as OPEC production cut seen unlikely LONDON: Brent crude oil fell $2 to a four-year low under $76 a barrel as traders speculated that OPEC was unlikely to cut output to support prices at its Thursday meeting.Gulf producers Saudi Arabia, Kuwait, Qatar and the United Arab Emirates said they had reached a consensus on oil output policies. Sources said those countries agreed not to press ahead with output cuts."The consensus is increasing that they will not provide any significant cut in ...
Oil falls $2 to 4-year low on OPEC output cut doubts LONDON: Brent crude oil fell $2 to a 50-month low under $76 a barrel on Thursday as oil producers in OPEC looked set to keep output unchanged despite a huge oversupply in world markets.Oil prices have fallen by a third since June as increasing production in North America from shale oil has overwhelmed demand at a time of sluggish global economic growth.Ministers from the Organization of the Petroleum Exporting Countries were unlikely to agree a ...
UK gas prices ease as temperatures revert to above normal LONDON: Prompt natural gas prices in Britain slipped on Thursday, trimming recent gains, as milder weather meant demand for gas for heating was lower.Prices for next-day delivery eased to 58.15 pence per therm at 0931 GMT, down 0.85 pence from the previous settlement, breaking their recent uptrend. The contract had risen by over 3 percent in the first three days of the week.Earlier this week temperatures briefly dipped below normal levels for this time of ...
Low expectations for oil output cut as OPEC meets VIENNA: Gulf oil producers led by Saudi Arabia are expected to press the case on Thursday for not yet cutting OPEC output, despite calls from several members of the group to bolster sagging prices by removing surplus crude from the market.Saudi Oil Minister Ali al-Naimi and his United Arab Emirates counterpart, Suhail bin Mohammed al-Mazroui, said on Wednesday they expected the oil market to stabilise itself. A Gulf OPEC delegate told Reuters the Gulf producers ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln