World Bulletin / News Desk
Turkish Cypriot prime minister has said his government planned increased investments in a two-year economic program for 2013-2015, adding that improvement in Turkey's economy had positive impacts on the economy of the Turkish Republic of Northern Cyprus (TRNC).
Irsen Kucuk told The Anadolu Agency on Wednesday that the new investment program would be given its final shape after consultations with Turkey, which he said carried out 90 percent of overall investments in the TRNC.
Kucuk said the Turkish Cypriot economy has been growing since 2010, and that the Turkish Cypriot state planning board estimated a 3 percent growth rate for 2012.
The TRNC prime minister said the government's austerity program had begun yielding results with an increase of 3-4 percent in budgetary revenues which reached over 2 billion Turkish liras.
Kucuk said the economic program also included more investments in infrastructure, adding that the prospective Turkish supply of water and electricity in March 2014 promised to make major contributions to the Turkish Cypriot economy.
Number of properties sold to foreigners soars by 11.4 percent y-o-y in the month, TurkStat reveals
BIST 100 index decreases 0.43 pct while US dollar/Turkish lira rate rose to 3.50
BIST 100 index rises 0.44 pct while US dollar/Turkish lira rate falls to 3.49
The day before, the dollar had rallied against both main rivals and the Dow reached a fresh record high after the US central bank kept alive the chance of a December increase in American borrowing costs.
Monthly index sees decline of 3.4 pct, according to Turkish Statistical Institute
BIST 100 index decreases 0.31 pct while US dollar/Turkish lira rate rose to 3.51
Frankfurt equities sagged despite a rally for shares in German heavy industry giant ThyssenKrupp, which announced a deal with Indian group Tata to merge their steel operations in Europe.
BIST 100 index drops 0.02 pct while US dollar/Turkish lira rate stands over 3.48
The move was seen as a bid to weather US-imposed sanctions on the embattled country.
Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release.
BIST 100 index rises slightly 0.09 pct while US dollar/Turkish lira rate falls to 3.43
BIST 100 index rises 0.10 pct while US dollar/Turkish lira rate stands around 3.46