Day: April 6, 2024

Oil prices saw sizable rises during the week ending April 5 as geopolitical tensions in the Middle East and Europe triggered supply fears. International benchmark Brent crude traded at $90.86 per barrel at 1.30 p.m. local time (1030 GMT) on Friday, 3.9% higher than the closing price of $87.48 on the last trading day of the week on Thursday, as markets were closed for Good Friday and Easter Monday. West Texas Intermediate (WTI), the American benchmark, traded at $86.69 a barrel at the same time on Friday, for a rise of about 4.2% from last Thursday's session that closed at $83.17 per barrel. Oil prices spiked as the conflict between Israel and Palestine and the Russia-Ukraine war continued to put global energy supply routes at risk. Israel is continuing its relentless onslaught despite a UN Security Council resolution demanding an immediate cease-fire in the besieged enclave. Rising hostilities in the Red Sea, one of the world's busiest maritime routes for oil and fuel shipments, due to Iran-backed Houthi attacks on commercial ships suspected of ties to Israel in solidarity with Gaza, continue fueling supply fears. Abdulmelik al-Houthi, the leader of Yemen's Houthi group, said Thursday that over the past three months, his group had recorded 424 raids and naval shelling by the US and UK on Yemen. Al-Houthi noted that his group has so far targeted 90 Israeli, American and British ships and vowed to continue its military operations in the Red Sea and Arabian Sea. The US and the UK have yet to comment on Al-Houthi's statement. These developments supported higher oil prices by raising concerns about further supply disruptions in the Middle East, where the majority of global oil reserves are located. Furthermore, the OPEC+ group's stance at its meeting on Wednesday to leave its oil output policy unchanged ensured a tight supply outlook in the short term in favor of higher pricing. Meanwhile, the ability of Russian oil refineries to process oil at full capacity in the short term following the wave of Ukrainian drone attacks since March has flagged concerns of a decline in the country's oil export capacity, also driving up prices. Given that 65% of market players anticipate a rate decrease from the US Federal Reserve in June, a decline in the value of the US dollar against foreign currencies is to be expected. If this bears out, oil purchases are likely to be cheaper for other currency holders, and the ensuing surge in trading is set to bolster prices. Source: Anadolu Agency

President of the House of Representatives of the Republic of Cyprus and President of DISY Annita Demetriou highlighted the unbreakable historical and national bonds between Greece and Cyprus, as well as the priority that both countries give to the solution of the Cyprus problem, during her speech at the 15th Conference of the New Democracy party, in Athens. Speaking about the "historical continuity of Hellenism in Cyprus", Demetriou stressed that "we have a supreme duty, despite the difficulties and the intransigence of Ankara, to be ready with determination on the front line, to achieve the best possible result based on the agreed framework - the Bizonal Bicommunal Federation, with political equality". "A solution based on the United Nations resolutions and international law, on the principles and values of the European Union. A viable and workable solution, which will lead to the creation of an independent and sovereign state, free from guarantor and interventionist rights, free from the presence of forei gn troops", added the President of the Parliament and President of DISY. In this context, she noted that Greece remains a constant supporter of Cyprus in the struggle for a solution. She thanked the Greek side for assuring Cyprus 'that the normalization of Greek-Turkish relations always goes through the Cyprus problem". Demetriou also stressed the importance of coordination between Greece and Cyprus within the EU, at a critical moment when the collective progress of Europe up to 2050 is at stake. As she said, at this moment, when a series of crises and challenges are raging, the answer "is even more Europe, even deeper integration, even more democracy". Speaking on the 50th anniversary of the founding of the Greek ruling party, Demetriou referred to the historical ties between New Democracy and DISY and their common values. As she pointed out "New Democracy and the Democratic Rally live parallel lives" as two parties that "were born out of the ashes of our national difficulties, with the survival of the n ation and the rebirth of Greece and Cyprus as their main goal". "New Democracy and the Democratic Rally will always put the good of the country before and above all else', Demetriou concluded. Source: Cyprus News Agency

RAMALLAH: Palestine relies heavily on Turkish products specialized in fertilizers and agricultural pesticides, according to a Palestinian official. Trkiye ranks third after China and Israel in terms of importing products to Palestine, a member of the Palestine Industrial Federation Board of Directors, Mohammed Abidin, told Anadolu. Abidin said that among the products his country imports from the rest of the world via Israel, food and clothing are at the top of the list. "Due to the occupation and the lack of control by the Palestinian Authority over ports and airports, all goods imported to Palestine reach through Israeli ports,' he explained. 'These ports levy a customs duty on goods imported on behalf of the Palestinian Authority," Abidin noted. There has been a nearly 15% rise in products imported from Trkiye to Palestine since the attacks by Israel on Gaza started on Oct. 7. Abidin said that one of the reasons for this increase is the Houthi attacks and violations targeting cargo ships passing throu gh the Red Sea. "Amid the instability in the Red Sea, Trkiye has become a quick solution for Palestine as well as a significant alternative for many materials and products imported from China," he added. Palestinian farmer Mohammad Ebu Sabit also praised Turkish fertilizers and agricultural pesticides, stating that he uses Turkish products on his farm located in the Jordan Valley region in the eastern part of the West Bank. Ebu Sabit, 49, has a five-acre agricultural land where he grows tomatoes, cucumbers, and zucchinis. "In the past 10 years, myself and a large portion of Palestinian farmers have become dependent on Turkish fertilizers and pesticide varieties," he said. Israel has waged a deadly military offensive on the Gaza Strip since a cross-border attack in early October by the Palestinian group, Hamas, killed less than 1,200 people. More than 33,100 Palestinians have since been killed and over 75,800 injured amid mass destruction and shortages of necessities. Israel has also imposed a crippling blockade on the Gaza Strip, leaving its population, particularly residents of northern Gaza, on the verge of starvation. The Israeli war has pushed 85% of Gaza's population into internal displacement amid acute shortages of food, clean water, and medicine, while 60% of the enclave's infrastructure has been damaged or destroyed, according to the UN. Israel is accused of genocide at the International Court of Justice, which last week asked it to do more to prevent famine in Gaza. Source: Anadolu Agency

ANKARA: Trkiye's new tourist Mesopotamia Express train has completed its promotional tour. A promotional tour was held before the first voyage of the tourist train, which will offer travel enthusiasts an opportunity to discover natural views along the 1,051-kilometer (653-mile) route extending from capital Ankara to southeastern province of Diyarbakir. The train will make its first regular run on April 19.? During the promotional tour, the train started from Ankara and reached Diyarbakir in about a day, stopping at the cities of Kayseri, Malatya and Elazig.? Passengers enjoyed the natural scenery along the route and also had the opportunity to get to know about the cities where they stopped.? The participants visited historical places in the region, tasted local delicacies, and had the chance to buy local products. The tourist train was welcomed in Diyarbakir by Mehmet Kaya, the president of the Diyarbakir Chamber of Commerce and Industry. Kaya told Anadolu that tourism is one of the strongest aspects of the city and that the Mesopotamia Express will be a great advantage for the promotion of Diyarbakir. "More than 1 million tourists a year make significant contributions to both our shopkeepers and our city, but with this train, the beauties of our country will be seen from Ankara to Diyarbakir and it will also contribute to the cities where it stops," Kaya said. ? lkim Kutval, who traveled with her daughter Melina, said that the tour was an event they really wanted to participate in and that it offered them a different experience. Mehmet Coban, another traveler who came from western province of Izmir, said that he loves traveling and discovering new things in different cities. He also emphasized that the journey was 'very comfortable.' Didem Haziray, another traveler, also said that she felt like "traveling in time" on the tour and enjoyed it very much. Helin Gozde Yilmaz, who came from Istanbul to Ankara to join the promotional tour, said that it was a 'great feeling' to be on the tour, adding that everyone should experience it at least once in their life. The train has a total capacity of 180 passengers with nine sleeping cars and one dining car. Source: Anadolu Agency

The Deputy Minister for European Affairs, Marilena Raouna, concluded her working visit to Ljubljana, Slovenia, on Friday, during which she had separate meetings with the State Secretary for European Affairs at the Prime Minister's Office, Igor Mally, and with the State Secretary for European Affairs at the Ministry of Foreign Affairs, Marko Štucin. According to an official statement, during the meeting with Igor Mally, the Slovenian side briefed Raouna on best practices in relation to the Presidency of the Council, in view of the upcoming assumption of the Presidency of the Council of the EU by the Republic of Cyprus in 2026, while the discussion with Marko Štucin focused on issues on the European agenda with emphasis on the Enlargement process, the Future of Europe, as well as the issue of the reform of the Union. It is added that views were also exchanged on EU-Turkey relations in view of the discussions at the European Council in April 2024. In this context, and given Slovenia's participation as a non-pe rmanent member of the UN Security Council, Raouna also informed about the efforts made by President Nikos Christodoulides to resume negotiations for a settlement of the Cyprus problem on the basis of the agreed framework. The Deputy Minister for European Affairs also informed her interlocutors about the sharp increase in illegal migration flows to Cyprus by sea and the need for the EU to contribute effectively to finding immediate solutions to address the problem, the statement concludes. Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively. UN Secretary General Antonio Guterres appointed in January María Ángela Holguín Cuéllar of Columbia as his personal envoy for Cyprus, to assume a Good Offices role on his behalf and search for common ground on the way forward in the Cyprus issue. Source: C yprus News Agency

ANKARA: Turkish security forces have arrested 48 terrorists as part of anti-terror operations targeting the Deash/ISIS terror group and attackers of Istanbul's Santa Maria Church, the country's interior minister said on Saturday. "In the operations carried out against the Deash/ISIS terrorist organization, 48 suspects were captured, especially those connected to the perpetrators of the Jan. 28 attack on Istanbul's Santa Maria Church, in which one person was killed and those in contact with the conflict zones," Ali Yerlikaya wrote on X. The operations, Bozdogan-21, were carried out by the Istanbul and Ankara police departments in coordination with the General Directorate of Security Intelligence and Counterterrorism Department. During the operations, 30 suspects believed to be involved in the Santa Maria Church attack were apprehended by the counterterrorism team from the Istanbul Police Department, while 18 others connected to Deash/ISIS were arrested by the Ankara Police Department. The Jan. 28 armed ass ault on the Santa Maria Church in Istanbul's Sariyer district was claimed by the Daesh/ISIS terror group. The attack resulted in the loss of 52-year-old Tuncer Cihan. Source: Anadolu Agency

Cyprus' Foreign Minister, who attended the iftar dinner hosted by the the Ambassador of the Kingdom of Saudi Arabia to Cyprus, to mark the holy month of Ramadan, extends his wishes for the upcoming holiday of Eid al-Fitr. In a post on 'X', Kombos said it was 'an honour' to attend the iftar dinner hosted by the Ambassador of the Kingdom of Saudi Arabia to Cyprus, Khaled Al-Sharif, to mark the holy month of Ramadan. Kombos thanked the Ambassador for his hospitality and extends 'warm wishes' for the upcoming holiday. Source: Cyprus News Agency

The trade volume on Trkiye's spot natural gas market showed an decrease of about 49.17% to 12.56 million Turkish liras on Friday, Trkiye's Energy Exchange Istanbul (EXIST) data showed on Saturday. Total trade on Thursday amounted to around 24.71 million liras. On Friday's spot market, 1,000 cubic meters of natural gas cost 8,705.22 liras, while the cumulative natural gas trade volume amounted to around 1.45 million cubic meters. Trkiye received 100.31 million cubic meters of pipeline gas on Friday. US$1 equals 32.03 liras at 2.30 p.m. local time (1130 GMT) on Saturday. Source: Anadolu Agency

Daily electricity consumption in Trkiye decreased by 1.07% on Friday compared to the previous day, totaling 847,436 megawatt-hours, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Saturday. Hourly power consumption peaked at 38,560 megawatt-hours at 9 p.m. local time (1800 GMT), data from TEIAS showed. The country's electricity usage dropped to the lowest level of 29,793 megawatt-hours at 7 a.m. local time (0400 GMT). Electricity production amounted to 842,221 megawatt-hours on Friday, marking a decrease of 1.02% compared to Thursday. Electricity production from hydroelectricity plants constituted 22.5% of total generation, while imported coal and run-of-river hydroelectric plants contributed 19.5% and 11.8%, respectively. On Friday, the country's electricity exports amounted to 2,996 megawatt-hours and imports totaled 8,239 megawatt-hours. Source: Anadolu Agency