Turkey to back tax imports national high tech production,

Minister intends to pump $3.5 billion into support for generation of smartphones, computers, electronic devices Market Minister Nihat Zeybekci on Friday announced measures to support national generation of high technology products. “We will take the initiative to decrease the import of goods which may be produced in Turkey. We’ll make regulations for smartphones, tablet PCs, and household electric appliances,” Zeybekci …

Ruble has got its balance: Russian finance minister

  Russia’s ruble did good Friday, but Russian finance minister says it’s not on course of 30 rubles to the dollar. The ruble again revealed its newfound equilibrium Friday at 53.70 and 65.46 to the dollar and euro respectively. Russia’s Finance Minister Anton Siluanov’s view was given by he about where he believed the ruble would be in 2015 and …

Istanbul's volatile increase presents challenges: pros

This week news broke that Turkey’s biggest city would have a record funding of $13.7 billion for 2015. AA analyzes Istanbul will make do with its uncontrolled increase and what’s fuelling this spending As the greatest city in Turkey – an important industrial, commercial and cultural centre in the area and a shoo in for being among the greatest 10 …

Turkey: Getting out gold from under mattresses that are Turkish

Turks keep almost $200 billion in gold concealed at home; government attempts to place that gold to work in investments A classic investment strategy is still favored by Turks: Purchase gold, and conceal it someplace safe, generally under the mattress or under the pillow. “I do not comprehend modern investments like stocks and forex. Gold is my family’s conventional investment …

Brent oil price dips below $58, lowest since May 2009

Brent crude oil price has dropped to $57.16, while American standard WTI dropped almost three percent, reaching nearly $53 per barrel Brent crude oil price dropped below $58 per barrel Monday. The worldwide standard went down nearly five percent, reaching $57.16 from the $60 per barrel mark, according to official figures. WTI, the American standard for petroleum costs, also dropped …

Russian minister: Interest rate decrease potential shortly

Russia’s economy could contract by 3 percent if oil cost goes below $60 per barrel, minister warns. An interest rate decrease might be potential in the following quarter. “The minister believe the vital rate is very high, also it should be reduced during the first quarter of 2015. From my perspective, there’s such a chance,” the minister said. The minister …

Balkan area motorists alleviated by low gasoline costs

Petroleum costs reach lowest amounts lately and that’s making motorists in Balkan area happy Petroleum costs on the planet marketplace reached their lowest levels lately and that’s making motorists in the Balkan area happy. The states which have gained the most in the area are Bosnia and Herzegovina and Serbia, where it costs $18 less to fill up a tank …

Istanbul bids for direction in international arbitration

  New arbitration centre attempts to direct area in trillion-dollar company Istanbul is making a bid to be a regional leader in the trillion-dollar business of arbitration that is legal – for disputes between sovereign states or important corporate litigation. Arbitration provides a shortcut from years of expensive litigation in courts. “There’s undoubtedly an extraordinary opportunity for an international arbitration …

Christmas spending is marred by austerity in Europe

Only like every other Christmas, Tatevik Aramaisian purchases presents for her family and close friends in time for this particular year’s vacation. But the 23-year old brand manager at a department store in Brussels must be cautious with how much she spends on presents this year. ”I am picking something that’s in my budget,” she said. ”I am constantly paying …

Russian government will pay Transaero airline's debts

The Russian government on Wednesday has passed a resolution ensuring the debts of distressed Transaero airlines. The government has organized for Bank VTB to make a three-year loan of nine billion-ruble ($164.8 million) for the nation’s second-biggest insurance company with a 100 percent guarantee of the business’s debts for a span of three to seven years. The Ministry of Transportation …