Brent oil soars above $60 after OPEC prediction

The cost of Brent crude oil increased more than 2.5 percent Monday after OPEC projected a rise in petroleum demand for 2015. Brent crude oil price rose above the $60 per barrel mark after the Organization of the Petroleum Exporting Countries, OPEC, predict a rise in international petroleum demand for 2015.A The cost of international standard reached $60.28 per barrel …

Turkey, Mali agree to foster economic relationships

Malian President Ibrahim Boubacar Keita starts embassy in Ankara Malian and Turkish officials vowed to foster economic ties between the nations as direct flights from Istanbul to the Malian capital are anticipated to begin in May. Malian President Ibrahim Boubacar Keita, on the second of a two-day official visit, joined the Turkey-Mali Company newsgroup alongside Turkish Development Minister Cevdet Yilmaz, …

European Central Bank puts pressure on banks that are Greek

ECB credit crunches accessibility to cash for Greek banks after Greek finance minister meets with central bank governor Draghi The European Central Bank took measures on Wednesday to restrict Greek banks’ access to cash. After a meeting on Wednesday between Greek Finance Minister Yanis Varoufakis and central bank governor Mario Draghi, the ECB announced that Greek bonds, which have a …

Middleman would be to blame for Turkish food costs that are high

A High food costs are among the greatest drivers in Turkish inflation. The middleman is largely to blame, as well as Turkish food costs are quite high, experts told The Anadolu Agency on Wednesday. Are food costs so high? A The middleman would be to attribute, as the companies that join consumer and manufacturer add significant price to the retail …

Turkish Minister criticizes central bank's rates policy

Economy Minister Zeybekci said central bank’s sense is flawed. Turkish Economy Minister Nihat Zeybekci on Friday took issue firmly with the comments of the ex-governor of the Central Bank on rates of interest. The minister responded forcefully to the ex-governor of the Central Bank of Turkey, Durmus Yilmaz, who’d told BBC Turkey on Tuesday that high interest rates aren’t the …

Takeover of Bank Asya Minister

Market minister says takeover is technical process predicated on banking regulations. Bank Asya by the Turkish Savings Deposit Insurance Fund’s takeover is the execution of banking regulations as well as a technical process, Economy Minister Nihat Zeybekci said on Wednesday. Zeybekci stated the determination of the Banking Regulation and Supervision Agency in Turkey was based on conjecture, not on facts. …

Jakarta tops list of world' s congested cities

Motorists in Indonesian capital stop-start more than 33,000 times a year Indonesian capital Jakarta is the world’s most vehicle-congested city, based on a survey released Wednesday. Using data from vehicle sat navs, 78 countries’ study found motorists stop-start 33,240 times on average over the duration of a year. Istanbul, Turkey’s biggest city, came second in the research by engine oil …

Turkey, Finland sign Joint Economic and Trade Committee deal

Turkish minister encourages Finnish investors to capture chances in Turkey, and projected $300 billion in Turkish investment abroad during the following decade Turkish Economy Minister Nihat Zeybekci and Finland’s Foreign Trade Minister Lenita Toivakka signed a Joint Economic and Trade Committee deal on Wednesday. The deal is designed to foster investment and bilateral trade. Zeybekci encouraged Finnish firms to improve …

Turkey: Important investment in alternative energy planned

Turkey will invest $16 billion in hydroelectric power generation during the following four years, the energy commission formed as part of 10th Development Strategy said on Wednesday. Turkey has the most technically viable hydropower potential in Europe — meaning that for developing electricity generation from water sources, the potential is not inconsiderable greater than that of Sweden and Norway Turkey …

Tsipras 'positive' #039;s & over Greece debt discussions with EU

Anti-austerity prime minister undertakes European tour in play to renegotiate terms of Greece’s debt burden The EU as well as Greece are heading in a” great direction” towards finding an arrangement over the EUR 240 billion bailout in the country’s, Greek Prime Minister Alexis Tsipras has said. Tsipras’s opinion came on Wednesday as he attended discussions on its debt burden …