World Bulletin / News Desk
Russian gas giant Gazprom saw its net profit double in the third quarter as its lucrative exports to Europe hit new records.
The state-controlled firm registered a net profit in July through September of 200 billion rubles (2.8 billion euros, $3.3 billion at current exchange rates), twice the amount it earned in the same period last year, according to an earnings statement released late on Wednesday.
The improved performance of the former Soviet gas monopoly comes as exports to Europe, from which it earns a large part of its profit, hit a new record.
While the firm has lost market share at home and Ukraine is no longer a client, the volume of Gazprom's exports to Europe hit an unprecedented 179 cubic metres last year.
Gazprom's chief executive Alexei Miller said Tuesday that record would be beaten this year and that production of gas by the group, which has slid to historical lows in recent years, would increase by 13 percent in 2017 to 470 million cubic metres.
Despite tensions with the European Union, which would like to reduce its dependence on Russian gas, Gazprom has seen its market share in Europe increase in recent years to around a third of the total.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.
Turkey's assets abroad go up 2.4 percent at end of February 2018, compared to end of 2017: Turkish Central Bank
BIST 100 decreases 0.12 percent; US dollar/Turkish lira exchange rate stands at 4.1020
Hong Kong and China ended down after fluctuating through the morning on data showing the world's number two economy expanded in January-March at the same rate as the previous three months.
For Turkey, Germany is a very important, indispensable partner: Turkish Energy Minister Albayrak says in Berlin
BIST 100 rises 0.69 percent; US dollar/Turkish lira exchange rate stands at 4.0830
The United States, Britain and France carried out attacks at the weekend on alleged chemical weapons facilities, in response to what they say was a toxic gas attack by the Russia-backed Assad regime a week before.
Excluding interest payments, central government budget balance saw surplus of nearly $500M in first quarter of 2018
London's FTSE 100 index fell 0.1 percent to 7,254.83 points, with UK advertising giant WPP diving four percent after chief executive Martin Sorrell resigned over the weekend.
The US, Britain and France carried out attacks at the weekend on alleged chemical weapons facilities, in response to what they say was a toxic gas attack by the Russia-backed Assad regime a week before.