Thursday 16 August 2018 \

 

Economy

Qatar to make direct investment of $15B in Turkey

Qatar will make $15 billion of direct investment in Turkey, Qatar’s leader said on a visit to Ankara on Wednesday, said Turkey’s presidential spokesman. 

 

Turkey to trade in local currencies with China, Russia, EU

President Recep Tayyip Erdoğan on Saturday said that Turkey was preparing to trade with its top trade partners like China, Russia, Iran and Ukraine in local currencies instead of the U.S. dollar, adding that it was also ready to do the same with European countries.

Addressing the ruling Justice and Development Party (AK Party) members i,n the Black Sea province of Rize, President Erdoğan also branded interest rates a "tool of exploitation" which should be kept as low as possible.

 

Turkey: A leading destination for Palestinian tourists

Turkey, with its numerous beach resorts and historical affinity with the Arab world, remains a leading destination for Palestinian tourists.

 

Iraq to Stop Trading With Iran in US Dollars Due to Sanctions

Iraq will have to stop using the US dollar in its financial transactions with Iran over Washington's sanctions against Tehran, Iraqi government spokesman Saad al-Hadithi told Sputnik on Thursday.

"The sanctions will influence, first of all, money transfers and banking operations in the US dollar. The sides will not use the US dollar," al-Hadithi said, adding that the move would result in a decline in trade between the two countries and thus affect the consumers.

 

KazanSummit main platform for cooperation with OIC countries

The 10th International economic summit "Russia - Islamic World: KazanSummit" held in Kazan from 10-12 May was attended by about three thousand delegates and guests from all over the world.
 
Among them are the Secretary General of the Organization of Islamic Cooperation, Youssef bin Ahmad Al-Osemin, the Minister of Economy of the United Arab Emirates Sultan Bin Saeed Al-Mansouri, the Minister of Investment and Trade of the Kingdom of Saudi Arabia Majed Al-Kassabi.
 
 

9th Sarajevo Business Forum begins in Bosnia

The ninth Sarajevo Business Forum (SBF) began Wednesday in the Bosnian capital with Turkey playing a prominent role.
 
Dubbed the "Balkan Davos", the event will focus on expanding regional economic cooperation and attracting international investment to Southeast Europe.
 
Turkish Deputy Prime Minister Mehmet Simsek features among this year's speakers.
 
 

Ironically, US sanctions are helping the Russian budget

The latest round of US penalties targeting Russian businesses paradoxically helps the country's budget instead of harming it, said Konstantin Korischenko, former deputy chairman of the Central Bank of Russia (CBR).
 
 

Indonesia wins Moody’s rating upgrade

Indonesia won a credit rating upgrade from Moody’s on Friday, with the agency lauding central bank and government policies for boosting confidence in Southeast Asia’s biggest economy.
 
The upgrade — after similar moves by other ratings agencies — comes at a good time for Indonesia’s president Joko Widodo. Boosting growth is at the center of what could be a tough re-election bid in next year’s presidential ballot.
 
 

China slaps retaliatory tariffs on 128 US products

China has increased tariffs by up to 25 percent on 128 US products including frozen pork, wine and certain fruits and nuts, escalating a spat between the world’s biggest economies in response to US duties on imports of aluminum and steel.
 
The tariffs, to take effect on Monday, were announced late on Sunday by China’s finance ministry and matched a list of potential tariffs on up to $3 billion in US goods published by China on March 23
 
 

Pakistani expats have contributed to Saudi Arabia’s development, growth and prosperity

Pakistan and Saudi Arabia have strong brotherly relations, deeply ingrained in the hearts of the people of the two countries.
 
The presence of more than 2.7 million Pakistanis in Saudi Arabia is a reflection of the strong bonds between the two nations. These expatriates have contributed to Saudi Arabia’s development, growth and prosperity.
 
 
 

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