Drought costs Turkey YTL 3 billion
Drought has cost Turkey between YTL 2.5 billion and YTL 3 billion this year, acutely affecting nearly 435,000 farmers Mehdi Eker, minister of Agriculture and Rural Affairs, announced in his more »

Turkey lining up local buyer for Tekel
Turkey is lining up a local buyer for state-owned Tekel Cigarette, valued at over $1 billion, but is first checking if BAT or Japan Tobacco may pay more, sources close to the situation said on more »

IMF team to begin talks in Turkey on Oct 4
An International Monetary Fund (IMF) team will begin talks in Turkey on October 4 on the latest review of its loan programme, the office of Turkish Economy Minister Mehmet Şimşek said in a more »

Strong Canadian dollar may impact Inmet mining
Recent depreciation of the U.S. dollar threatens to have significant implications on mining companies operating in Canadian currency, UBS Securities Canada Inc. warned in a report released on Sept. more »

Kemer Group builds luxury residences in Kalkan and Göcek
Kemer Group has begun construction in Gökcek Hills, its latest development of luxury villas in the spectacular seaside town of Göcek, nestled on northern tip of the Gulf of Fethiye.The villas of more »

Swedish investment bank fined $7.7 mln
Swedish investment bank Carnegie was Friday fined 50 million kronor ($7.7 million , 5.4 million euros) and its chief executive and board sacked after a trading scandal, Sweden's Financial more »

U.S. Congress agrees to raise U.S. credit limit
With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing more »

Home loan rates will fall but those looking to buy should hurry
Finansbank's general manager, Sinan Şahinbaş, says that despite interest rates taking a 1-2 point drop by the end of the year, prices are expected to rise. Therefore, those looking to buy a home more »

Ireland fears fallout of house price collapse
Ireland is bracing for possible fallout on the wider economy from a slump in property prices, after a decade-long housing boom which has seen prices soar by up to 250 percent.For the moment there is more »

ECB's Papademos: `Turbulence' hasn't taken toll on growth
European Central Bank Vice President Lucas Papademos said increasing credit costs haven't taken much toll on the region's economic growth. ``So far, the effects of the market turbulence on more »

Texas convict wins reprieve
A man condemned for killing his parents avoided the death chamber when he won a reprieve from the U.S. Supreme more »

Deutsche Telekom buys Orange Netherlands
German telecommunications group Deutsche Telekom pursued its international offensive on more »

BSH appoints new director
BSH Home Appliances, Turkey's largest household appliance manufacturer, has appointed a new administrative more »

Türk Telekom sale postponed to next year
The Turkish government is slated to sell a minority stake in telephone company Türk Telekom next more »