Sub Categories:/» Homepage/» ECONOMY
Tuesday, September 13 2011 , Your time is 15:58:00
U.S. President Donald Trump proposed on Sept. 27 the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit.
An update of the customs unions agreement with the European Union will be beneficial for ties between Turkey and the EU, Economy Minister Nihat Zeybekci said on Sept. 27.
Turkey told Iraq it would deal only with the Iraqi government on crude oil exports, the office of Iraqi Prime Minister Haider al-Abadi said on Sept. 28.
The government has unveiled its new medium-term economic program, including a series of ambitious targets in growth, jobs, inflation, and national income per capita.
The government has introduced significant rises in a number of taxes, including a 40 percent rise in personal cars, in line with the new medium-term economic program unveiled on Sept. 27.
A number of international carriers have announced they would halt flights to the Iraqi Kurdish region this week at the request of Baghdad, including Lebanese and Egyptian national carriers.
Turkey will offer subsidies to A-group tourism operators of cruise ships bringing foreign tourists into the country in a bid to bolster visitor numbers which have fallen sharply due to a series of bomb attacks of 2016.
Turkey’s border with northern Iraq remains open, although that does not mean it will remain so, the Turkish customs minister said on Sept. 27, adding the number of trucks passing through had decreased.
Trade ties between Turkey and Iraqi Kurdistan Regional Government (KRG) should not be affected by the recent independence referendum, Economy Minister Nihat Zeybekci has told the Hürriyet Daily News
The Treasury had a cash balance surplus of 2.97 billion Turkish Liras ($847 million) in August, it stated on Sept. 11.
Turkish natural gas distribution company Başkent Gaz will list a stake of up to 28.75 percent on the Istanbul stock exchange, according to a draft prospectus on the company’s website, as reported by Reuters on Sept. 11.
In a leading index of global financial centers, Istanbul has fallen 12 places to 78th, despite a rise in its rating, among 92 centers across the globe on factors such as infrastructure and access to high quality staff.
Qatar’s ruler has introduced a law giving broad protection to tens of thousands of foreigners working as maids, cooks, cleaners and nannies, addressing some concerns long highlighted by human rights groups.
One million women in Turkey have quit their jobs over the five-year period from 2010-2015 as a result of the duties bound to childcare, in addition to 112,000 others who have quit their jobs to care for the elderly, according to a study by the Turkish Enterprise and Business Confederation (TÜRKONFED)
Britain’s unemployment rate has fallen to a new year 42-year low, official data showed on Sept. 13, but wages growth remains far below overall inflation.
Brent oil prices hovered near 26-month highs, supported by Turkey’s threat to cut crude exports from Iraq’s Kurdistan region as well as signs that market rebalancing is accelerating.
Russian Gazprom’s board of directors has approved the formation of a joint venture with Turkey’s Botaş for the TurkStream natural gas pipeline project, according to a statement released by Gazprom on Sept. 25.
Bulgarian and Turkish gas operators Bulgartransgaz and Botaş will hold meetings as soon as possible to speed up progress for the Turkey-Bulgaria Gas Interconnection Project “ITB,” Nadezhda Neynsky, Bulgaria’s ambassador to Turkey, told state-run Anadolu Agency on Sept. 25.
Turkey’s tourism sector needs many years to fully recover in case any negative development breaks out, a leading tourism research company has said, adding that Spain and Portugal benefited most from Turkey’s plunge.
Nearly 1 million Turkish people went on holiday during a 10-day public holiday, which started late on Aug. 25 and ended on Sept. 3, creating more than 1 billion Turkish Liras ($292 million) of tourism revenue, according to tourism players.
Turkey’s Ağaoğlu Group has said it signed a letter of intent with investors from China and Hong Kong to build a 12 million square meter tourism city in Bodrum