World Bulletin / News Desk
In an exclusive interview, Himmet Karadag said the new facility – with the capacity to hold up to 1,600 tons precious metals – will be near Goldencity, the largest such integrated production and trade center in the Middle East region.
Saying that the Central Bank of Turkey currently has 479 tons of gold in its reserves, Karadag added they are in close contact with the central bank about how much of these reserves may be stored at the new facility.
“After increasing physical capacity we will be able to work with Central Bank and other members of the market more comfortably and be able to hold more gold reserves in Turkey,” he said.
Regarding the deepening of capital markets and Borsa Istanbul, Karadag said diversification of financial products is vital. He also said the establishment of standards for issuance of Islamic finance products from all traditional banks beside participation banks is required to attract foreign investors, especially from the Gulf.
However, Karadag added the absence of opportunities to take shares from Turkey’s mega projects through financial instruments is a deficiency which needed to be addressed:
“We absolutely need to meet with undertakers of those projects and have them come into stock exchange and capital markets. There is a huge potential.”
Turkey is 5th biggest start-up market in the world, says head of World Business Angels Investment Forum
Gas pipeline will also link Turkmenistan, Afghanistan, Pakistan, and India via roads, railways, and fiber optics
Inflation among EU19 countries down 0.1 percentage point from Dec. 2017, says Eurostat
BIST 100 rises 0.51 pct; USD/TRY exchange rate stays at 3.79 while EUR/TRY exchange rate drops to 4.66
Deal does not mean much unless countries resolve arbitration case, define pipeline route and get licenses: OME hydrocarbons Dir.
Bank's net profit rose to €1.3B last year, up around 7 pct from 2016
Over last decade, Turkey earned over $200M from hazelnut exports to China
BIST 100 index drops 0.15 pct, US dollar slightly up to 3.7970 Turkish liras, euro-lira rate down to 4.6640
BIST 100 index rises 1.40 pct, U.S. dollar up to 3.7910 liras, euro-lira rate climbs to 4.6740
10 Turkish agricultural machinery producers and exporters explore Ethiopian market during visit to Addis Ababa
Turkish firms' know-how' in construction sector is an advantage to have in joint projects in Africa: Japanese bank manager
BIST 100 index gains 0.48 percent at opening; USD/TRY stands at around 3.75
Office workers, farmers and radio hosts are taking on new nationalities, relocating their businesses or looking forward to lucrative alternative trade deals, as politicians struggle to come up with a plan.
The International Monetary Fund was going to be "attentive" to the consequences of the reform, which notably includes a sharply lower corporate tax rate, she told French radio station France Inter.
More than 9,000 new companies established in January, according to major business body