Turkish June Foreign Trade Gap Widens for Second Month on Material Imports

(Bloomberg) -- Turkey's trade deficit widened 18
percent in June from a year earlier, the second consecutive
increase, as industry drew in raw materials for manufacture of
products to export.

The trade gap grew to $5.5 billion from a revised $4.7
billion in the year-earlier period, the statistics agency in
Ankara said on its Web site today. The deficit was forecast to be
$4.8 billion, according to the median estimate of 13 economists
surveyed by Bloomberg.


Read more at Bloomberg Emerging Markets News

Datatec in Turkish venture with Indeks Bilgisayar

(Reuters) - South African IT firm Datatec has agreed to a joint venture with Turkey's Indeks Bilgisayar to gain a foothold in Turkey as it expands in emerging markets, it said on Tuesday.

Datatec's Westcon unit has agreed to buy 50 percent of Turkish network and security distributor Neteks Iletisim Urunleri (Netex) from Indeks Bilgisayar, which will keep the other 50 percent, Datatec said in a statement.


Read more at Reuters Africa

UPDATE 1-Turkey's ratings depend on political stability-S&P

(Reuters) - The agency ruled out, however, any immediate action on the
country's credit ratings -- currently "BB-" with stable outlook
for its foreign-currency debt.




"The outcome bodes well for a continuation of the prudent
economic policy-making that has underpinned Turkey's improving
credit-worthiness over the past five years," S&P said in a
statement, signed by analyst Farouk Soussa.


Read more at Reuters.com Bonds News

Turkish Stocks Jump After Elections, Led by Banks: World's Biggest Mover

(Bloomberg) -- Turkey's benchmark stock index was
headed for the biggest one-day gain this year after voters re-
elected Prime Minister Recep Tayyip Erdogan, giving him the go-
ahead for European Union membership talks and policies that have
resulted in five years of economic growth.

Akbank TAS and Turkiye Garanti Bankasi AS, among the
nation's biggest banks, paced the advance.


Read more at Bloomberg Stocks News

Turkish Markets May Rally After Erdogan's Justice Party Wins Re-Election

(Bloomberg) -- Turkish stocks, bonds and the lira
may gain after voters re-elected Prime Minister Recep Tayyip
Erdogan, giving him a mandate to extend policies that won Turkey
European Union membership talks and helped bring 21 straight
quarters of economic growth.

Erdogan's Justice and Development Party took 47 percent of
the vote with almost all ballots counted at 1 a.m. in the
capital Ankara, according to the state-run Anatolia News Agency.
That's likely to give the party 342 lawmakers in the 550-seat
parliament, CNN Turk television said.


Read more at Bloomberg Currencies News

Erdogan Gains From Turkey's New Islamic Businesses in Re-Election Bid

(Bloomberg) -- From a factory in central Turkey,
Islamic businessman Celal Hasnalcaci annually churns out $15
million worth of hip-hugging pants and tight T-shirts --clothing
that would horrify many devout Muslims.

Hasnalcaci, 53, exemplifies a growing class that balances
Islamic values with support for market economic forces and
Turkey's bid for membership of the European Union. That's
exactly the mix that is propelling Prime Minister Recep Tayyip
Erdogan toward victory in July 22 national elections.


Read more at Bloomberg Exclusive News