Industry

Turkey hands 1,181 incentive certificates in December

January 28, 2021

Turkey’s Industry and Technology Ministry gave incentive certificates to 1,181 projects in December 2020, investing over 28.1 billion Turkish liras ($3.8 billion).Over 29,300 people are expected to be employed in these projects when completed, accordin…

‘Turkey-UK trade ties success story of modern times’

January 28, 2021

The commercial relationship between Turkey and the UK is a real modern-day success story, with bilateral trade up almost 70% in the last decade, seeing an all-time high of almost £19 billion ($26 billion) in 2019, according to Robin Janvrin, the UK’s t…

Oil prices down over rising value of US dollar

January 28, 2021

Oil prices were down on Thursday as the rising value of the dollar countered a massive draw in US oil inventories.International benchmark Brent crude was trading at $55.16 per barrel at 0658 GMT for a 0.66% fall after closing Wednesday at $55.53 a barr…

Turkey: Central Bank reserves hit 93.3$B in December

January 28, 2021

The Turkish Central Bank’s reserves amounted to $93.3 billion at the end of December 2020, the bank announced on Thursday.Total reserve assets rose 12.8% in December from the end of November, according to the bank’s international reserves and foreign c…

Turkey: Economic confidence up 1.6% in January

January 28, 2021

The confidence in the Turkish economy rose month-on-month in January, said the country’s statistical authority on Thursday.The economic confidence index reached 96.2 this month, up 1.6% from 94.7 in December, TurkStat said.The monthly rise was driven b…

Borsa Istanbul down at Thursday open

January 28, 2021

Turkey’s benchmark stock index opened at 1,450.54 points on Thursday, down 1.12% or 16.46 points from the previous close.Borsa Istanbul’s BIST 100 index dropped 4.50% to close at 1,467.00 on Wednesday, with a daily trading volume of 34.3 billion Turkis…

Tesla posts record quarterly revenue of over $10B

January 28, 2021

Tesla Inc posted record quarterly revenue of more than $10 billion for the first time in history in the October-December period last year, according to its financial results statement released Wednesday.The US electric vehicle maker saw its revenue soa…

US economy sees greatest contraction since 1946

January 28, 2021

The American economy contracted 3.5% in 2020, according to the Commerce Department on Thursday, marking the worst decline in gross domestic product (GDP) since 1946.The economy grew at a 4% annualized rate in the fourth quarter but that was not enough …