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Turkey to draw lessons from Moody's cuts, says reforms underway


ANKARA Turkey will draw lessons from its credit downgrade to "junk" by Moody's but is already tackling some of the challenges highlighted by the agency, including structural reform and improving the quality of its institutions, Finance Minister Naci Agbal told Reuters.

Still robust, Turkey looks set to weather downgrade to 'junk'

ISTANBUL/ANKARA On the first trading day after Moody's downgraded Turkey's sovereign rating to "junk", the reaction in Istanbul and Ankara was swift and predictable -- stocks and the lira took a beating and policymakers accused the agency of playing politics.

Business, Middle East, 26 Sep 2016

We need migrant deals with African states like EU-Turkey pact - Merkel

BERLIN German Chancellor Angela Merkel on Monday said the European Union needed to establish migrant deals with African countries such as Egypt and Tunisia along the lines of the agreement it already has with Turkey.

World, Egypt, Middle East, Africa 26 Sep 2016

Global economy, taxes to dominate Washington's G20 agenda - Russia

MOSCOW International tax cooperation will be in focus alongside the global economy a meeting of finance ministers from the Group of 20 developed and developing nations in Washington next month, Russia's top financial diplomat said on Friday.

Business, 23 Sep 2016

Bank of England's Carney calls for progress on green bonds

BERLIN Bank of England Governor Mark Carney called for faster development of green bond markets to reduce climate change risks for the world economy and urged Germany to use its presidency of the Group of 20 economies in 2017 to make progress.

UK, Business, 22 Sep 2016

BoE paper says system-wide stress-testing would bring benefits

LONDON Extending bank stress testing to the wider financial system could be the next step by regulators to root out weaknesses that undermine stability, a Bank of England paper said on Wednesday.

Business, UK, 21 Sep 2016

Developers pay high prices for land in China's Hangzhou despite curbs

BEIJING Property developers bid aggressively at a land auction in China's eastern city of Hangzhou on Tuesday, undeterred by the city's move just two days earlier to restrict home purchases to cool price rises, the National Business Daily reported.

Business, 21 Sep 2016

Between reckless ally and old rival, China in a bind over North Korea

BEIJING/UNITED NATIONS China is in a bind over what to do about North Korea's stepped-up nuclear and missile tests, even though it is annoyed with its ally and has started talks with other U.N. Security Council members on a new sanctions resolution against Pyongyang.

16 Sep 2016

China's economy perks up in August, thanks to housing boom, government spending

BEIJING China's factory output and retail sales grew faster than expected in August as a strong housing market and a government infrastructure spending spree underpinned growth in the world's second-largest economy. | Video

Business, 13 Sep 2016

Turkey formally requests U.S. arrest of cleric Gulen over coup plot - NTV

ISTANBUL Turkey has made a formal request to the United States for the arrest of U.S.-based Turkish cleric Fethullah Gulen on charges of orchestrating an attempted military coup on July 15, Turkish broadcaster NTV said on Tuesday. | Video

World, 13 Sep 2016



Global GDP comparison

A graphical look at the world's top economies by size and per-capita production.  Interactive