Day: November 25, 2021

Posted on

Turkish stocks on high note at Thursday’s open

Turkey’s benchmark stock index opened at 1,819.69 points on Thursday, increasing by 0.41%, or 7.39 points, from the previous close.

 

At midweek’s close, Borsa Istanbul’s BIST 100 index hit an all-time high of 1,812.30 points with a rise of 1.55% and a trading volume of 47.6 billion Turkish liras ($3.7 billion).

 

The US dollar/Turkish lira exchange rate reached 12.1820 as of 9.30 a.m. local time (0630GMT), up from 12.0320 on Wednesday’s close.

 

The euro/Turkish lira exchange rate was at 13.6560, rising from 13.4670, while one British pound traded for 16.2750 Turkish liras, versus 16.0920 at the previous close.

 

One barrel of Brent crude oil was sold for around $82.10 as of 10 a.m. local time (0700GMT).

 

Source: Anadolu Agency

 

Posted on

Stakeholders in $7T global halal market meet in Istanbul

Stakeholders in the market for products meeting Muslim halal guidelines, whose global size has reached around $7 trillion, began a major gathering Thursday in the Turkish metropolis Istanbul.

 

The three-day 7th World Halal Summit and 8th Organization of Islamic Cooperation Halal Expo will discuss hot topics in the halal market with experts, top officials, and market representatives from Turkey and other countries.

 

Anadolu Agency is the global communications partner for the summit and expo, organized in cooperation with the Islamic Centre for Development of Trade (ICDT) and the Standards and Metrology Institute for Islamic Countries (SMIIC).

 

The expo includes a variety of sectors boating halal offerings, from tourism to finance, to cosmetics.

 

Fuat Oktay, Turkey’s vice president, said at the summit’s opening ceremony that the world halal economy’s size has leaped from $4 trillion in 2017 to $7 trillion now.

 

“Since people are not only halal but also clean and healthy, halal products have become sought after not only by Muslims, but by everyone,” he underlined.

 

The largest producers of halal products today are countries where Muslims are not in the majority, such as Brazil, Australia, France, Germany, and New Zealand, he stressed.

 

He added that to meet on common ground and act together to contribute to the halal economy, divisions, differences, conflicts, and distrust in the field of halal certification must be eliminated.

 

Adem Sahin, chair of the standards institute, said bodies active in halal certification have not yet found a common ground and that this situation is causing trust issues.

 

“In this context, it is our country’s greatest wish that Islamic countries gather together under a single roof and accept the standards in order to act in the interests of humanity,” he said at the opening ceremony.

 

Source: Anadolu Agency

 

 

 

Posted on

European stock markets close higher except Italy

European markets closed higher on Thursday, except Borsa Italiana ending in negative territory.

 

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, rose 2.03, or 0.42%, to close at 481.72.

 

London’s FTSE 100 added 24 points, or 0.33%, to end the day at 7,310, while Germany’s DAX 30 gained 39 points, or 0.25%, to finish at 15,917.

 

France’s CAC 40 increased 33 points, or 0.48%, to 7,075.

 

Spain’s IBEX 35 was the best performer of the day by adding 48 points, or 0.56%, to close at 8,840.

 

Italy’s FTSE MIB 30 was the only index finishing in negative territory by falling 10 points, or 0.04%, to end the day at 27,098.

 

Source: Anadolu Agency

 

Posted on

Turkey’s 4th drill ship to start operations in summer 2022

Turkey’s fourth drill ship will begin drilling activities next summer, Energy and Natural Resources Minister Fatih Donmez said on Thursday.

 

The new ship, which is capable of operating in harsh sea conditions and even in high-pressure reservoirs, will join the fleet in the spring of 2022.

 

This is part of exploratory work that will accelerate in the first quarter of 2022 with the Fatih drill ship scheduled to drill one more natural gas exploration well.

 

“We plan to finalize the pre-production completion operations in all wells in 2022,” Donmez said.

 

Turkey currently has two seismic research ships, Oruc Reis and Barbaros Hayrettin Pasa and three drill ships, Fatih, Kanuni and Yavuz operating in the Black Sea and the Mediterranean Sea.

 

With a production start last year in the Black Sea, a total of 540 billion cubic meters of output was achieved.

 

Last year, natural gas production overall totaled 457.82 million cubic meters, and by October this year it had reached 347.3 million cubic meters, Donmez said.

 

Work on placing the distribution pipeline on the seabed in the Black Sea will also begin in the first half of 2022, Donmez said, adding that the first phase of production would begin in 2023.

 

Source: Anadolu Agency

 

 

 

Posted on

US Fed may raise interest rates sooner amid high inflation, minutes show

The US Federal Reserve may raise interest rates sooner than anticipated and cut back on its monthly asset purchases faster if inflation continues to run high, the minutes of a recent bank meeting showed on Thursday.

 

Some participants at the Federal Open Market Committee (FOMC) said they “should be prepared to adjust the pace of asset purchases and raise the target range for the federal funds rate sooner than participants currently anticipated if inflation continued to run higher,” according to the minutes of the meeting on Nov. 2-3.

 

The Fed kept interest rates near zero at its last meeting, but said the process of tapering would start this month, reducing its $120 billion monthly asset purchases.

 

Though the bank indicated on Sept. 22 that its first interest rate hike was projected to come by late 2022 at the earliest, the move may instead come in mid-2022 as last month US consumer prices hit their highest level in 31 years.

 

“Participants noted that the Committee would not hesitate to take appropriate actions to address inflation pressures that posed risks to its longer-run price stability and employment objectives,” the minutes said.

 

The Fed, however, added that it would remain patient and monitor macroeconomic data given the risks in the global economy, such as supply bottlenecks and the course of the coronavirus.

 

“Because of the continuing considerable uncertainty about developments in supply chains, production logistics, and the course of the virus, a number of participants stressed that a patient attitude toward incoming data remained appropriate to allow for careful evaluation of evolving supply chain developments and their implications for the labor market and inflation,” it said.

 

Source: Anadolu Agency

 

Posted on

European commercial vehicle market narrows in October

The EU commercial vehicle market narrowed by 16.4% year-on-year in October, according to data revealed by a sector group on Thursday.

 

In the 27-member bloc, commercial vehicle sales amounted to 144,409 units last month, the European Automobile Manufacturers’ Association (ACEA) report showed.

 

“The region’s overall performance was not helped by its largest markets, as all four suffered double-digit losses last month: Spain (-32.7%), Germany (-24.3%), France (-23.3%), and Italy (-22.9%),” it said.

 

All vehicle segments saw declines, but van and bus sales fell most significantly.

 

The EU’s demand for vans – light commercial vehicles – decreased for the fourth consecutive month, down by 17.8% to 119,006 in October.

 

Demand for new heavy trucks decreased by 4.5% to 19,922 during the same period.

 

In January-October, commercial vehicle registrations in EU markets reached 1.6 million units, a 14.7% rise from the same period last year.

 

All four big EU markets remained in positive territory in the first ten months of this year, as Italy saw a 22.2% increase, France 11.8%, Spain 4.5%, and Germany 4.3%.

 

Source: Anadolu Agency

 

 

 

Posted on

Turkey to face Belarus in 2023 Basketball World Cup qualifiers

The Turkish national basketball team will play against Belarus on Thursday in their first group match in the 2023 FIBA Basketball World Cup qualifying stage.

 

Turkey are in the Group B with Belarus, Great Britain, and bitter rivals Greece.

 

The game between Turkey and Belarus in Minsk’s Sports Palace will begin at 1630GMT.

 

Turkey later will face Great Britain on Sunday in Istanbul’s Sinan Erdem Arena.

 

Turkey will be led by Anadolu Efes playmaker guard Shane Larkin, Fenerbahce Beko shooting guard Melih Mahmutoglu and Barcelona center Sertac Sanli.

 

Turkish players in the NBA, Cedi Osman (Cleveland Cavaliers), Furkan Korkmaz (Philadelphia 76ers), Alperen Sengun (Houston Rockets), and Omer Faruk Yurtseven (Miami Heat) could not join the roster for this week’s qualifiers due to busy NBA schedule.

 

Road to World Cup

 

In the first round, 32 teams will compete in eight groups (A-H), playing home and away games. The best three nations in each group will qualify for the second round.

 

The qualifiers will be held between November 2021 and February 2023.

 

Twenty-four teams will reach the second round to compete in four groups (I-L) but only 12 European countries will go to the 2023 FIBA World Cup, which will be hosted by the Philippines, Japan and Indonesia.

 

Source: Anadolu Agency

 

 

 

Posted on

Maradona commemorated on his first death anniversary

Football players, coaches, and fans on Thursday commemorated Argentine legend Diego Armando Maradona on the first anniversary of his untimely passing last year.

 

His former clubs Boca Juniors, Barcelona, and Napoli paid tribute to Maradona on social media, as the 1986 FIFA World Cup winner died of heart failure on Nov. 25, 2020.

 

He was 60.

 

“You never left. You are in the heart of every fan,” Boca Juniors said on Twitter, putting a popular #DiegoEterno hashtag and a video of his tiems with the Boca Juniors team.

 

“Eterno,” means forever.

 

“One year without you. The world of football misses you, Diego,” Barcelona said on Twitter and shared a photo of Maradona in the club jersey.

 

The Spanish top-tier division La Liga also posted a video on social media showcasing Maradona’s goals and football skills in the league.

 

Napoli, an Italian Serie A club, also tweeted to commemorate their ex-star.

 

Napoli said they love Diego, hailing him as “The God of Football.” The club also shared several wallpapers for Napoli fans.

 

Separately, Serie A said on Twitter that a full year has passed without Maradona.

 

Iconic figure

 

The South American Football Confederation (CONMEBOL) thanked Maradona for his contributions to the game.

 

“Thanks Diego for everything you left us! One year after your departure, we remember all your extraordinary talent, magic, and leadership.

 

Football thanks you for your enormous legacy and all that you have accomplished,” the federation said on social media.

 

Maradona was a versatile player on the pitch who could play in various positions for the offense.

 

Like his compatriot Lionel Messi, Maradona was known for his pace, highly skilled technique, and dribbling skills.

 

One of the iconic football figures of all time, Maradona, then just 25, was the Argentina captain when he helped his nation win the 1986 World Cup.

 

Maradona played for Boca Juniors, Barcelona, and Napoli to lift nine club trophies.

 

The Argentine national was a beloved Napoli player, as he helped them win the 1987 and 1990 Italian Serie A titles as well as the 1989 UEFA Cup.

 

Following his death, Napoli’s San Paolo Stadium was renamed the Diego Armando Maradona Stadium.

 

At some Serie A matches in November, Napoli players wore a special kit dedicated to Maradona featuring a massive fingerprint design over a Maradona silhouette.

 

An artist created the pattern to refer to the eternal imprint the Argentine great made on Naples’ culture and the game as a player.

 

Maradona was a remarkable player, but as a manager, things did not go as well.

 

He was a head coach for the Argentine national team for the 2010 World Cup held in South Africa.

 

Argentina hired Maradona in 2008 to manage the national team for the 2010 World Cup finals, but his effort fell short.

 

Maradona’s men were eliminated in the quarterfinals in a shocking 4-0 loss to Germany in Cape Town, South Africa.

 

Source: Anadolu Agency

 

Posted on

Man City defeat PSG 2-1 to advance to UEFA Champions League last 16 as Group A winners

Manchester City defeated Paris Saint-Germain 2-1 on Wednesday to advance to the UEFA Champions League last 16 as Group A winners.

 

Neither team was able to break the deadlock in the first half of play at the City of Manchester Stadium.

 

PSG’s French star Kylian Mbappe, who played in his 50th Champions League match, broke the deadlock in minute 50.

 

Raheem Sterling leveled in the 63rd minute. But it was Gabriel Jesus who scored the winning goal in the 76th minute.

 

Manchester City are atop of the Group with 12 points while PSG are in second, collecting eight points.

 

Both sides qualified for the Round of 16 for the Champions League.

 

Wednesday results:

 

Group A:

 

Manchester City – Paris Saint-Germain: 2-1

 

Club Brugge – RB Leipzig: 0-5

 

Group B:

 

Atletico Madrid – AC Milan: 0-1

 

Liverpool – Porto: 2-0

 

Group C:

 

Beşiktaş – Ajax: 1-2

 

Sporting CP – Borussia Dortmund: 3-1

 

Group D:

 

Inter Milan – Shakhtar Donetsk: 2-0

 

FC Sheriff – Real Madrid: 0-3

 

Source: Anadolu Agency

 

 

 

Turkish Central Bank head: ‘Our banking sector is very strong’

 

The Turkish banking sector is “very strong,” said the Central Bank governor on Thursday after meeting with public and private banking officials and bank CEOs.

 

The Turkish banking sector is also one of the most successful ones in the world, Sahap Kavcioglu told a group journalists after the meeting in Istanbul, Turkey’s commercial capital.

 

Along with a number of bank CEOs, Kavcioglu met with Banking Regulation and Supervision Agency (BDDK) Chairman Mehmet Ali Akben and Banks Association of Turkey (TBB) head Alpaslan Cakar.

 

He said they discussed a range of issues, including inflation, monetary policy, and global developments.

 

On Wednesday Recep Tayyip Erdogan, Turkey’s president, spoke with Kavcioglu in a closed-door meeting.

 

Kavcioglu’s remarks came amid fluctuating foreign exchange rates in the wake of interest rate cuts by the Central Bank.

 

In a Tuesday statement, the bank decried “unhealthy” and “unrealistic” price formations in foreign exchange markets, saying they are completely detached from economic fundamentals.

 

Source: Anadolu Agency