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Turkey FinMin: Iran deal 'great news' for Turkish economy ISTANBUL: Iran's nuclear deal is "great news" for the Turkish economy as it is likely to boost bilateral trade, Turkish Finance Minister Mehmet Simsek said on Tuesday. "Iran nuclear deal is a great news for the Turkish economy," he wrote in English on his official Twitter account. "It's likely to boost trade and investments between the two countries."Copyright Reuters, 2015 ...

Britain to force companies to publish gender pay gap LONDON: British Prime Minister David Cameron announced plans on Tuesday to force large companies to publish the difference in earnings between male and female staff in a bid to ensure equal pay.Currently, woman on average are paid roughly 20 percent less than men in Britain, a discrepancy that Cameron vowed to end "in a generation"."Today I'm announcing a really big move: we will make every single company with 250 employees or more publish the gap ...
Britain to resist contributing to Greek bailout LONDON: British Finance Minister George Osborne is to seek to block any move by the European Union to include British money in a new bailout programme for Greece, according to reports on Tuesday.Osborne held a series of telephone conversations with his counterparts ahead of a meeting in Brussels in Tuesday to underline Britain's opposition to participating in a bailout, the Financial Times and other media reported."Our eurozone colleagues have received the message loud and clear ...
Germany says 'did not stand alone' in Greece talks BERLIN: Chancellor Angela Merkel's government stressed Monday that "Germany did not stand alone" in hammering out a tough deal to prevent a Grexit with other eurozone members."This is an agreement that was reached through hard work over 17 hours by 19 member countries of the eurozone," said Merkel's spokesman Steffen Seibert.Answering reporters' questions, he rejected the notion that an overbearing "ugly Germany" had pushed through a painful reform package which news site Spiegel Online labelled ...
Turkey PM launches coalition talks ANKARA: Turkish Prime Minister Ahmet Davutoglu began coalition talks on Monday with the second-placed CHP party after last month's election which saw his ruling party lose its overall majority. Davutoglu's Justice and Development Party (AKP) failed to secure enough votes in the June 7 election to form a government alone, for the first time since it came to power in 2002.The AKP has 258 seats in the new parliament, the Republican People's Party (CHP) 132, ...
'Grexit has gone': EU's Juncker tells AFP BRUSSELS: European Commission President Jean-Claude Juncker said there was no longer any risk of Greece crashing out of the euro after Athens agreed a bailout deal with eurozone partners. "Grexit has gone," Juncker said when asked by AFP if Greece's position in the single currency was still in danger.Copyright AFP (Agence France-Presse), 2015 ...
French PM warns 'Grexit' would be 'disaster' for Greece, eurozone PARIS: Greece leaving the eurozone would be a disaster both for the debt-laden country and the single currency, France's prime minister warned on Monday as European leaders continued to try and thrash out a deal on a new bailout for Athens.Asked about the so-called "Grexit," Manuel Valls told French radio that he hoped the option was no longer under discussion at the marathon talks in Brussels. "Because that would be a disaster. A disaster first ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln