Turkey economy growth “more than questionable” says Commerzbank
Businessam Staff
September 12, 2017
Turkey’s official growth figures are “more than questionable” and may have been “politically influenced”, Germany’s second-largest bank has said, according to Financial Times (FT), after figures released earlier this week suggested the country has bounced back from last year’s political instability to become one of the fastest-growing economies in the world. Official data released Monday […]
Turkish ministers hail economic growth as country focuses on production, investment, exports
Businessam StaffSeptember 11, 2017
Turkey’s economic growth continued in the second quarter with positive contributions from domestic and foreign demand, Deputy Prime Minister Mehmet Simsek said on Monday. Simsek’s statement came shortly after the Turkish Statistical Institute reported 5.1 percent y-o-y economic growth for the second quarter of 2017. Domestic demand contributed 3.2 percentage points while net foreign demand […]
Merkel moves to pressure EU leaders on ending accession talks with Turkey
Businessam StaffSeptember 5, 2017
German Chancellor Angela Merkel said she’ll bring up the future of Turkey’s bid to join the European Union with fellow EU leaders when they next meet, raising the prospect of a formal end to Turkish accession to the bloc. Merkel made the comments to Germany’s lower house of parliament in Berlin Tuesday, as the Turkish […]
Offshore wind giant waves oil industry goodbye, fueling Denmark’s green transition
Businessam StaffAugust 29, 2017
In another sign that the petroleum era is drawing to a close, Denmark is selling off its last oil company with barely a peep. Once considered a strategic asset, on a par with national carriers or shipyards, the oil and gas division of A.P. Moller-Maersk A/S is being bought by French giant Total SA. The $7.45 billion deal is expected to […]
Economic issues are a priority, say UK, German firms
Businessam StaffAugust 28, 2017
The British Chambers of Commerce (BCC) and the Association of German Chambers of Commerce (DIHK) said uncertainty over “business critical” issues such as workers’ rights, tax and customs arrangements needed to be tackled. DIHK said the uncertainty was affecting German firms which traded with the UK. Most BCC members say they want “at least” a […]
ECB needs fresh powers to intervene in bank failures, says supervisor
Businessam StaffAugust 25, 2017
The European Central Bank needs fresh powers to freeze payments temporarily at banks heading towards failure, halting a potentially fatal outflow of liquidity, Daniele Nouy, the ECB’s top supervisor said Friday. The ECB, which supervises the euro zone’s biggest banks, was tested in recent months when several top lenders failed in quick succession, including Spain’s […]
Trade body wants English courts to rule on European swaps after Brexit
Businessam StaffAugust 21, 2017
English courts should continue to rule on disputes over cross-border derivatives contracts after Brexit to avoid clogging up a $483 trillion global market, a trade body said Monday. The International Swaps and Derivatives Association (ISDA), which helps to run the market by setting out basic contract terms, said the vast majority of cross-border trades in […]
Europe spends billions to convince Africans to stay home, and it’s not working
Businessam StaffAugust 18, 2017
Standing in front of a packed classroom at a school in Iruekpen, a remote farming village in southern Nigeria, Precious Owens warns teenage students about the dangers of migrating to Europe. Recruiters trick people into thinking they can get a good job overseas, she explains. “They will come and tell you they have a salon […]
Russia’s Settlement Depository and Waves building blockchain platform
Businessam StaffAugust 13, 2017
The National Settlement Depository (NSD), Russia’s central securities depository, and Waves Platform, have started to develop a blockchain platform to support digital assets. The new platform architecture will securely host and store tokenised and crypto assets, settling transactions and providing identification for owners of cryptocurrency wallets. Development of the platform is already under way and the first prototype will be presented […]
Apple, Ireland nearing loss protection deal over EU tax palaver
Businessam StaffAugust 13, 2017
Ireland and Apple Inc. are close to a deal to protect the Irish government from any losses that could occur while it holds as much as $17.7 billion of the IPhone maker’s money during a tax fight with European Union regulators, according to two people familiar with the matter who spoke to Bloomberg. In an […]