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July 29 (Reuters) – Turkey’s Central Bank, which on Thursday raised its foreign currency reserve requirement to 10 percent from a previous 9.5 percent, said the measure would drain $719.6 million liquidity from the market.
The move is part of the central bank’s unwinding of financial-crisis induced measures intended to ease liquidity pressures. Turkey’s forex reserve requirements stood at 11 percent in December 2008.
(Reporting by Alexandra Hudson)
(Reuters) – General Electric (GE.N) is looking at selling its 20.85 percent stake in Turkish lender Garanti Bank (GARAN.IS) in parts, after an unsuccessful attempt at a block sale, Sabah newspaper said on Friday.
A representative of GE Turkey, Kursat Ozkan, said the sale method to be used was still unclear and work was continuing.
Few banks came forward to publicly declare their interest in the stake after GE said it was up for sale earlier this year.
Analysts speculated that the size of the stake, valued at around $3.8 billion but not giving control of the bank, had limited interest in the sale.
“The block sale of the 20.85 percent stake didn’t look very possible. Therefore, GE gave a message that it might sell the stake in parts. So that method is also being talked about now,” said the unnamed source.
The bank is just under 50 percent publicly traded, while Turkish conglomerate Dogus Group owns 30.5 percent and has first refusal on the stake. It has declined to clarify its intentions.
(Additional reporting by Aali Kandemir; Editing by Simon Jessop)
ISTANBUL, July 9 (Reuters) – General Electric (GE.N) is looking at selling its 20.85 percent stake in Turkish lender Garanti Bank (GARAN.IS) in parts, after an unsuccessful attempt at a block sale, Sabah newspaper said on Friday.
A representative of GE Turkey, Kursat Ozkan, said the sale method to be used was still unclear and work was continuing.
Few banks came forward to publicly declare their interest in the stake after GE said it was up for sale earlier this year.
Analysts speculated that the size of the stake, valued at around $3.8 billion but not giving control of the bank, had limited interest in the sale.
“The block sale of the 20.85 percent stake didn’t look very possible. Therefore, GE gave a message that it might sell the stake in parts. So that method is also being talked about now,” said the unnamed source.
The bank is just under 50 percent publicly traded, while Turkish conglomerate Dogus Group owns 30.5 percent and has first refusal on the stake. It has declined to clarify its intentions. (Additional reporting by Aali Kandemir; Editing by Simon Jessop)
July 5 (Reuters) – Turkey’s central bank injected one billion lira ($640 million) into the market in a one-week repo auction on Monday at a fixed simple rate of 7 percent.
Total bids were 2.8 billion lira and the repo will mature on July 12, central bank data showed CBTG. ($1=1.5660 lira)
June 25 (Reuters) – Turkey’s central bank injected two billion lira ($1.27 billion) into the market in a one-week repo auction on Friday at a fixed average simple rate of 7 percent.
Total bids were 8.145 billion lira and the repo will mature on July 2, central bank data showed CBTG. ($1=1.5810 lira)
June 25 (Reuters) – Turkey’s Central Bank will hold a one-week repo auction on Friday with a volume of two billion lira ($1.27 billion), bank data showed CBTF.
The repo will mature on July 2. ($1=1.5790 lira)
June 24 (Reuters) – Turkey’s central bank said on Thursday it would buy government bonds worth 3 billion lira ($1.91 billion) in the rest of 2010, after buying 5 billion lira-worth bonds in auctions that started late last year.
The central bank will continue to hold auctions in which the bank buys 100 million lira-worth of bonds on Wednesday and Friday every week to buy government bonds until July 30 and then weekly auctions until Dec 22, the statement said.
June 22 (Reuters) – Riza Kutlu Isik, chief executive of Turkey’s Isiklar Holding — which has interests in construction, energy, foundry and shopping malls — tells Reuters on Tuesday: * Isiklar Holding plans to hold an initial public offering in April-May next year. (Reporting by Evrim Ballim)
June 17 (Reuters) – State-run Ziraat Bank, Turkey’s biggest bank, is expected to hold talks with Commercial Bank of Syria on setting up a joint venture, Adnan Youssif, chairman of Union of Arab Banks, said on Thursday.
Asked with which Syrian bank Ziraat is considering forming a partnership, Youssif said: “I think it will be Ziraat and Commercial Bank of Syria.”
Youssif was speaking to Reuters on the sidelines of a Turkish-Arab banking conference in Istanbul.
Syrian Finance Minister Mohammad al-Hussein said last week that Ziraat would own up to 60 percent of the venture, while the Syrian stake would be 40 percent. See [ID:nLDE65A0Z8]. (Reporting by Ebru Tuncay)
June 16 (Reuters) – Ayse Botan Berker, Fitch Ratings’ general manager in Turkey, said on Wednesday an “upward trend” in the country’s ratings may continue if the government maintains its current fiscal policies.
Berker was speaking in an interview with Bloomberg television’s local affiliate in comments that were broadcast live.
In December, Fitch was the first of the three main ratings agencies to raise Turkey’s sovereign ratings, to BB+ from BB- on what it said was the country’s fiscal resilience.
(editing by John Stonestreet)
June 11 (Reuters) – U.S. Defense Secretary Robert Gates said on Friday he was disappointed by Turkey’s decision to vote against a U.N. Security Council resolution on sanctions against Iran but said it would not affect U.S.-Turkish military cooperation.
“I was disappointed by the Turkey vote in the Iranian sanctions. That said, Turkey is a decades-long ally of the United States and other members of NATO,” Gates said after a meeting of NATO defence ministers in Brussels.
“Turkey continues to play a critical part in the alliance,” he said.
Turkey, a key NATO member, joined Brazil in voting against the U.N. resolution on Wednesday, but the resolution still passed and the world powers are moving ahead with tighter sanctions on Tehran.
June 9 (Reuters) – Turkey voted against U.N. sanctions on Iran for its nuclear programme on Wednesday because it wants to continue diplomatic efforts, a source in Prime Minister Tayyip Erdogan’s office said.
Erdogan travelled to Tehran last month to broker a nuclear fuel swap deal with Iran. Voting for sanctions would have meant Turkey no longer stood behind that deal, the source said. (Reporting by Pinar Aydinli, writing by Ayla Jean Yackley, editing by Tim Pearce)
June 8 (Reuters) – A bomb exploded next to a Turkish police bus in Istanbul on Tuesday in an attack which left two people wounded, the state-run Anatolian news agency reported.
It said the attack on the vehicle occurred in the Kucukcekmece suburb of Turkey’s largest city as the bus passed by a hospital. The two injured were taken to hospital.
No further details were immediately available. (Writing by Daren Butler; Editing by Mark Heinrich)
A Turkish man was charged on Friday with murder in the stabbing death of a Roman Catholic bishop, the Vatican’s apostolic vicar in Anatolia, for whom he worked as a driver, a court said.
Monsignor Luigi Padovese was killed a day before he was due to leave for Cyprus to meet Pope Benedict XVI. The killing in the Mediterranean port of Iskenderun on Thursday was the latest in a string of attacks in recent years on Christians in predominantly Muslim Turkey.
The 26-year-old driver, Murat Altun, confessed to the killing, his lawyer Cihan Onal said.
“The murder is not politically motivated,” Onal told the state-run Anatolia news agency. “My client is suffering from mental problems. He confessed to all the details of the killing.”
Turkish authorities also said the murder did not appear to be politically motivated. The court ordered Altun jailed pending trial. No trial date has been set.
“In his statement, at one point he said he killed him after receiving a message from God,” Onal said. “He can’t explain why he committed the murder. In fact, he is giving conflicting accounts.”
Nicosia, June 6 (IANS/AKI) Pope Benedict XVI, who is on a landmark visit to Cyprus, has called for a dialogue between Christians and people of other faiths.
‘Much still needs to be done throughout the world. Only by patient work can mutual trust be built,’ the 83-year-old pontiff said with regard to inter-religious dialogue Saturday.
The Mediterranean island is divided between Greek orthodox Christians and Muslim communities from Turkey.
It is the first visit to Cyprus by a pope and Benedict’s first to an orthodox country. The pope also emphasised the need for cooperation between different Christian faiths.
New Delhi, Jun 6 (PTI) Union Commerce Minister Anand Sharma will be filing his nomination for the Rajya Sabha elections in Jaipur tomorrow. Sharma, who has been made the Congress nominee for the elections to the RS from Rajasthan, would be reaching Jaipur today for early filing of his nomination tomorrow.
Later, he will be proceeding to Turkey to attend an international conference on security. The Congress High Command yesterday ended suspense over his nomination by fielding him in the Rajya Sabha polls from Rajasthan, two months after the expiry of his term in the House.
57-year old Sharma, who hails from Himachal Pradesh, shifts to Rajasthan as his party was not in a position to get him re-elected from his home state, where BJP runs the government. His term expired on April 2 and since then there was speculation over fielding him from Haryana, Madhya Pradesh and Maharashtra.
Sharma”s shifting to Rajasthan resulted in dashing the hopes of former Union Minister Santosh Bagrodia who failed to get renomination. This will be Sharma”s third term in the Upper House.
June 2 (Reuters) – Turkey said on Wednesday it was ready to normalise ties with Israel if the Jewish state lifts a blockade on Gaza and said “it was time calm replaces anger” in the wake of Israel’s deadly raid on a Turkish-backed flotilla.
Foreign Minister Ahmet Davutogu, in Ankara after a visit to the United States to discuss the diplomatic crisis, also told a news conference that the future of Turkish-Israeli ties depended on Israel’s attitude. Turkey recalled its ambassador to Israel following Monday’s storming of Gaza bound aid ships. (Writing by Ibon Villelabeitia; Editing by Jon Hemming)
June 1 (Reuters) – Turkey’s Prime Minister Tayyip Erdogan urged Israel on Tuesday to lift its “inhumane embargo” on Gaza as soon as possible, in a speech to parliament in which he criticised an Israeli raid on a Turkey-backed aid convoy.
Erdogan said the international community should carry out an investigation into the operation by Israeli commandos to stop a Turkish vessel carrying aid to Gaza. At least nine people were killed during the storming of the vessel.
June 1 (Reuters) – Turkey’s Defence Minister Vecdi Gonul said on Tuesday a diplomatic crisis with Israel after the Jewish state stormed a Turkish-backed aid convoy will not affect the planned delivery of Israel-made Heron drones to Turkey.
Israel’s long-time Muslim ally Turkey has recalled its envoy to Israel and cancelled joint military exercises after Israeli marines raided an aid flotilla bound for Gaza on Monday.
Earlier this year, the two countries, which have a close military alliance, wrapped up the purchase of 10 Heron drones in a deal worth $180 million. (Reportingby Tulay Karadeniz; Writing by Ibon Villelabeitia; Editing by David Stamp)
June 1 (Reuters) – The Turkish Central Bank on Tuesday injected 1 billion lira ($631 million) in a one-week repo auction at a fixed rate of 7 percent, central bank data showed CBTGCBTF.
Bids were 3.195 billion lira. The repo will mature on June 8.
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