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May 17, 2013

Turkey hails new investment grading but worries about money flows

ISTANBUL, May 17 (Reuters) – Turkey hailed its second
investment grade rating on Friday, seeing it as a seal of
approval from international markets for a decade of economic
reform.

Investors joined in, driving sovereign bond yields to record
lows.

Government enthusiasm was tempered, however, by some concern
that the move, coinciding with a visit by Prime Minister Tayyip
Erdogan to Washington, might trigger over-large capital inflows
into the lira currency.

May 17, 2013

Turkey welcomes Moody’s upgrade, bond yields tumble

ISTANBUL, May 17 (Reuters) – Turkey hailed its second
investment grade rating on Friday, seeing it as a seal of
approval from international markets for a decade of economic
reform.

Investors joined in, driving sovereign bond yields to record
lows.

Government enthusiasm was tempered, however, by some concern
that the move, coinciding with a visit by Prime Minister Tayyip
Erdogan to Washington, might trigger over-large capital inflows
into the lira currency.

May 16, 2013

Turkish central bank cuts rates to boost growth, curb lira

ISTANBUL, May 16 (Reuters) – Turkey’s central bank cut its
main interest rates by 50 basis points each on Thursday in a bid
to stimulate the faltering economy and keep the lira from rising
due to aggressive monetary easing elsewhere.

It also tweaked its bank reserve rules to help limit the
impact of foreign exchange inflows to Turkey on the strong lira,
which makes exports more expensive and imports cheaper, widening
the country’s already yawning current account deficit.

May 16, 2013

Turkish central bank seen cutting rates to spur growth, tame lira

ISTANBUL, May 16 (Reuters) – The Turkish central bank is set
to cut key interest rates on Thursday to boost the faltering
economy and stop cash from stimulus measures in Japan and other
rich economies fuelling a further rise in the lira.

Other central banks, including those of South Korea,
Australia and Israel, have also lowered rates in recent weeks to
weaken their currencies and keep exports competitive to protect
growth in the face of aggressive monetary easing elsewhere.

May 5, 2013

Galatasaray seal 19th Turkish title

ISTANBUL (Reuters) – Galatasaray clinched their 19th Turkish league title with a 4-2 win over Sivasspor on Sunday, crowning a successful season in which they reached the quarter-finals of the Champions League.

Fans of the club filled the streets of Istanbul, sounding car horns, setting off flares and waving flags in the club’s red-and-yellow colours as they sang in the city’s squares.

May 5, 2013

Soccer-Galatasaray seal 19th Turkish title

ISTANBUL, May 5 (Reuters) – Galatasaray clinched their 19th Turkish league title with a 4-2 win over Sivasspor on Sunday, crowning a successful season in which they reached the quarter-finals of the Champions League.

Fans of the club filled the streets of Istanbul, sounding car horns, setting off flares and waving flags in the club’s red-and-yellow colours as they sang in the city’s squares.

Apr 26, 2013

Turkey warns opposition against sabotaging Kurdish peace moves

ISTANBUL (Reuters) – The Turkish government welcomed a planned withdrawal by Kurdish militants as significant progress towards ending three decades of conflict on Friday, and it warned its nationalist opponents not to sabotage the peace process.

The main nationalist party, however, was quick to reiterate its opposition to any dealings with the militants.

Apr 17, 2013

Russian foreign minister tells West “don’t isolate Assad”

ISTANBUL (Reuters) – In an implicit warning to international supporters of Syrian opposition forces, Russia’s foreign minister said on Wednesday that efforts to isolate one side in the conflict would wreck the chances of a negotiated solution and help militant Islamists.

Sergei Lavrov said the Friends of Syria group, which is meeting in Istanbul this weekend, had so far had a negative influence on implementing a 2012 accord among world powers aimed at resolving the war through talks among all sides.

Apr 10, 2013

Terim’s fighting spirit takes Galatasaray close

ISTANBUL (Reuters) – Galatasaray flirted briefly with the notion they could achieve the impossible and overturn a 4-0 deficit against Real Madrid on Tuesday, their comeback a tribute to the attacking spirit of the Turkish champions under coach Fatih Terim.

In a stunning 15-minute second half spell, goals from Emmanuel Eboue, Wesley Sneijder and Didier Drogba had shattered the assurance of the nine-time champions and fired up the home side with the belief they could reach the semi-finals.

Apr 10, 2013

Soccer-Terim’s fighting spirit takes Galatasaray close

ISTANBUL, April 10 (Reuters) – Galatasaray flirted briefly with the notion they could achieve the impossible and overturn a 4-0 deficit against Real Madrid on Tuesday, their comeback a tribute to the attacking spirit of the Turkish champions under coach Fatih Terim.

In a stunning 15-minute second half spell, goals from Emmanuel Eboue, Wesley Sneijder and Didier Drogba had shattered the assurance of the nine-time champions and fired up the home side with the belief they could reach the semi-finals.

    • About Daren

      "I am based in Istanbul where I cover a broad range of financial and general news. I joined Reuters in Ankara in 1996 and left Turkey to work in London in 2000. I returned to Istanbul in 2003."
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