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QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme
  • Iran targets $30bn in annual trade with Turkey: Amirabdollahian

    Tehran, Iran -- Iran and Turkey target $30 billion in annual trade in their endeavor to broaden political and economic relations, Iran's Foreign Minister Hossein Amirabdollahian said Sunday. Speaking at a joint press conference with his Turkish counterpart Hakan Fidan, held in Tehran on Sunday, Amirabdollahian said they have held...
  • Istanbul dams run low after scorching, dry summer

    The bank of screens in Ismail Aydin's Istanbul water management system control room flashes a worrying number: 29.7 percent. That is the capacity level to which Istanbul's water reservoirs have dropped after another steamy summer put Turkey's largest city on the edge of a potential catastrophe.
  • Turkey asks Russia to renew grain deal for global food security

    Moscow, Russia - Turkey's foreign minister said on a visit to Moscow on Thursday that reviving a deal to ship Ukrainian grain across the Black Sea was "critical" for food security. "We underlined its critical role for global food security and stability in the Black Sea," Turkish Foreign Minister Hakan Fidan...
  • Bitay to expand in UAE’s burgeoning crypto market

    DUBAI, UAE –   Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market. The UAE, which has an impressive 99% internet penetration rate according to a McKinsey study, welcomes Bitay. This move aligns with the UAE’s growing stature as a global digital hub and its...
  • Turkey to ask Russia to resume grain deal in original form

    According to TASS, quoting a diplomatic source, Turkey's Foreign Minister Hakan Fidan will propose to Russia at the upcoming talks in Moscow to resume the grain deal in its original format. The source said that Turkey is all for restarting the grain corridor in its original "format involving parties to...
  • DP World, Evyap Group ink pact

    The partnership aims at enhancing trade infrastructure.
  • Erdogan may meet Putin before UNGA kicks off: TASS

    Ankara, Turkey - Turkish President Recep Tayyip Erdogan is expected to talk to Russian President Vladimir Putin in September, ahead of the 78th session of the UN General Assembly, which begins on September 19, s political source based in Ankara disclosed this information to TASS, a Russian news agency. The...
  • Saudi Arabia and Turkey to boost ties in industrial, mining sectors

    The two countries signed a memorandum of understanding (MoU to boost mining cooperation in critical minerals needed in new technologies like electric vehicles and solar panels. The Turkish and Saudi ministers also discussed deepening partnership in areas such as hydrogen, solar and wind energy, besides seeking to widen trade between...
  • Turkey’s Erdogan to visit Russia for talks with Putin

    Turkish President Recep Tayyip Erdogan is to visit Russia "soon" for talks with Vladimir Putin on reviving a deal to ship grain across the Black Sea, his party spokesman said. The meeting will take place in Russia's Sochi city, Erdogan's ruling party spokesman Omer Celik said, adding Turkey hoped to...
  • Members of US Congress make rare visit to Syria’s rebel area

    The Republican delegation comprising French Hill, Ben Cline and Scott Fitzgerald entered Syria from Turkey through the Bab al-Salama border crossing, where they were welcomed by a banner reading "Welcome to Free Syria" and revolutionary flags. The delegation visited a hospital in Aleppo province and met orphans of the Syrian...
  • Years of coal plant expansion torment Turkey’s villagers

    Villagers and environmental activists have been locked in clashes with the police in the southwestern Mugla province since their plant began cutting down trees and olive groves in search for more coal last month.
  • No alternative to first Ukraine-Russia grain deal: Turkey FM

    The foreign minister said that his country does not see any alternative to the original initiative because in his words they carry risks. He completely dismissed an alternate route reportedly being considered by the US. Last month, Russia pulled out of a landmark deal that enabled Ukraine to export more...
  • Erdogan and Putin likely to discuss Africa flour supply deal: Report

    Istanbul, Turkey - Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin are likely to discuss a deal on supplying Russia's flour to African countries, according to TASS. "Both leaders spoke earlier about plans to process Russian grain into flour in Turkey and sending it to the poor nations...
  • Wildfire briefly halts marine traffic on Turkish strait

    The fire forced the evacuation of a local university and closure of a highway running through the blaze. The Turkish coast guard reopened southbound traffic along the strait after more than two dozen aircraft managed to largely contain the blaze by Tuesday night.
  • Iraq and Turkey foreign ministers hold talks on water supply, oil

    The foreign minister's visit is also intended to pave way for Turkish President's trip to Baghdad for which a date is yet to be finalized. The issue of water and dams on the Tigris and Euphrates rivers, both of which have their sources in Turkey before entering Iraq, is a...
  • Turkey’s leader Erdogan in Hungary for NATO, energy talks

    Hungary has still not voted to approve the Nordic country's entry into the North Atlantic Treaty Organization, having aligned itself with Turkey which had long blocked Sweden's membership before lifting its veto last month. Both countries' parliaments are currently on holiday. "We can come back to the issue at the...
  • Syria’s economic challenges persist despite Arab League return: MEI

    Damascus, Syria - Syria's reentry into the Arab League in May was anticipated to herald positive changes for the country's fortunes. Diplomatic relations warmed, with a normalization agreement signed with Saudi Arabia and a tense, Russia-brokered meeting between Turkish and Syrian foreign ministers. However, despite these diplomatic strides, Syria's economic...
  • Turkey slams ‘unacceptable’ UN approach to Cyprus row

    ISTANBUL, TURKEY - Turkey's ruling party spokesman on Saturday criticized UN peacekeepers for blocking the construction of a controversial road in the buffer zone dividing Cyprus, calling their attitude "unacceptable" and "extremely wrong". A confrontation occurred on Friday between Turkish Cypriot forces and UN peacekeepers in Pyla, an ethnically mixed village...
  • Turkish Cypriot forces assault Cyprus peacekeepers: UN

    The confrontation occurred in Pyla, an ethnically mixed village in the UN-patrolled area between the internationally recognised Republic of Cyprus in the south and a breakaway Turkish Cypriot statelet in the north. Video widely shared on social media showed bulldozers pushing away UN-marked SUVs, cement barriers and razor wire as...
  • Turkish officials discuss scenarios around stalled Russia grain deal

    Turkey’s top diplomat Hakan Fidan is planning to discuss the results of these discussions with Russian Foreign Minister Sergey Lavrov and his Ukrainian counterpart Dmitry Kuleba, Turkish media reported. Officials say a stalemate could lead to an escalation of food crisis and possible military tensions.
  • APIC H1 net profit down 39%

    Total revenues grew by 7.2% YoY to $590 million.
  • Turkey broadens grain deal talks ahead of Putin-Erdogan meet

    Ankara, Turkey -- Turkey intensified talks with Ukraine, the United States, and the European Union on the grain deal in preparation for a possible meeting between Turkish and Russian Presidents Tayyip Erdogan and Vladimir Putin, TASS reported. "The Ministry of Foreign Affairs, the Ministry of Defense, and the Ministry of...
  • Water flows from Turkey improve after pact: Iraq minister

    Baghdad, Iraq - The water flows from Turkey to Iraq have improved at a rate of 500 m3 per second following the agreement between the two countries, the Minister of Water Resources, Aoun Diab, said on Sunday.  “I met with the Turkish ambassador for an hour and a half, and...
  • Gulf’s green transition: How Turkiye can lead the way

    As these countries -- including Saudi Arabia, UAE and Qatar -- progress to the next phase of their economic diversification, focusing on renewable energy technologies and cutting-edge manufacturing, Turkiye can emerge as a dependable partner, offering opportunities for technology transfer and joint development, he adds.
  • Turkey, Saudi Arabia exports vault 630% after normalization in ties

    Istanbul, Turkey - Turkey's exports to Saudi Arabia have skyrocketed by an astonishing 630 percent in the first seven months of this year compared to the same period in 2022, the dailysabah reported on Thursday. Data compiled by the Turkish Exporters Assembly (TIM) revealed that exports to the kingdom reached...
  • UK strikes deal with Turkey to tackle illegal migration

    London announced the plan late Tuesday as part of its attempts to reduce illegal migration to the UK, a key political issue. The new UK-backed centre will "enrich existing expertise in both countries with respect to activities aimed at disrupting criminal networks organising illegal journeys", according to a statement from...
  • West must keep ‘promises’ on Ukraine grain deal: Erdogan

    Ankara, Turkey--Turkish President Recep Tayyip Erdogan said Tuesday that the revival of a deal with Russia to allow Ukrainian grain exports, brokered by Ankara and the UN, "depends on Western countries which must keep their promises". "I think a solution can be found," Erdogan added, referring to a recent telephone...
  • Medical charity assails UN failure to renew Syria aid route

    Through an arrangement that began in 2014, the UN delivered relief to the areas directly through the Bab al-Hawa crossing from Turkey. But last month, the UN Security Council failed to reach consensus on extending the key aid route. The Syrian government has said it will allow humanitarian aid to pass...
  • Erdogan defends expansion of controversial coal mine

    Dramatic scenes have emerged since July 24 when Akbelen forest in the Milas district of the Aegean province of Mugla was occupied by villagers and activists trying to stop the trees from being felled by the mine's owner, an energy company close to the government. Mugla is home to three...
  • Fish farms reel from climate change in water-stressed Iraq

    Drastic government measures have restricted water use for some purposes, including crop irrigation, and authorities have cracked down on illegal practices they long ignored.
  • Turkish inflation surges in July at 47.83 percent

    The new figure comes as Turkey radically shifts its policies since the May election that includes an end to more than a two-year era of ultra-low interest rates. Last week, the central bank revised its year-end inflation forecast to 58 percent from 22.3 percent after years of doubts from independent...
  • Black Cobra signs MoU with OSTIM

    The Abu Dhabi firm will push for growth in the defense sector.
  • Turkey, Italy seek joint hosting of Euro cup 2032, says UEFA

    Paris, France - Italy and Turkey have asked to jointly host the 2032 European Championship, UEFA announced on Friday. European football's governing body said it had "received a request" from the Italian (FIGC) and Turkish (TFF) football federations "to merge their individual bids into one joint bid". In 2021, UEFA initiated...
  • Water loss, river pollution threaten Syrian fishermen’s livelihood

    The battered country, where half a million died in the conflict, has also suffered the impacts of climate change, from searing summer heat to prolonged drought. The flow of the Euphrates -- one of the region's mighty streams, where the world's earliest civilizations flourished -- has been further impacted by...
  • Thousands of Kurds demonstrate on Lausanne treaty centenary

    The demonstrators marched through the Swiss city in opposition to the 1923 treaty, while organisers urged the international community to reconsider the agreement and its consequences for the Kurdish people. The demonstrators, who came from across Europe, gathered by Lake Geneva before marching uphill to the Palais de Rumine where...
  • Israel’s Netanyahu to visit Turkey days after Palestinian leader

    Netanyahu's office confirmed the visit, the first by an Israeli prime minister since Ehud Olmert in 2008. Turkey's diplomatic drive comes at a time when the Israeli-Palestinian peace process is at a standstill, against a backdrop of the worst violence in years in the occupied West Bank.
  • Turkey, UAE sign agreements worth over $50bn

    Earlier this year, the two countries signed a Comprehensive Economic Partnership Agreement with the aim of boosting trade to $40 billion over the next five years.
  • Turkish President Erdogan concludes economy-driven Gulf tour in UAE

    The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage for increased non-oil intra-trade, job creation, and a significant boost in UAE exports to Turkey.
  • Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership

    Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates through a comprehensive monetary policy. Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region.
  • Iraqis rally in heat against water, electricity crisis

    Designated by the UN as one of the five countries in the world most touched by some effects of climate change, Iraq is experiencing its fourth consecutive summer of drought.
  • Saudi Arabia’s exports to Turkey hit $13.93 billion in three years

    Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion), and the Kingdom’s imports from Turkey totaled SAR 16.787 billion. Saudi exports largely comprised plastics, metal products, organic chemical products, steel, precious metals and stones and its imports from Turkey were...
  • Turkey’s ‘biggest ever’ defense deal inked during Erdogan’s Saudi visit

    Haluk Bayraktar, CEO of the drone manufacturer which is co-run by one of Erdogan's sons-in-laws, in a tweet called the deal "the biggest defence and aviation export contract in the history of the Turkish Republic". The value of the deal has not been made public.
  • Qatari small and medium-sized companies sign deals worth US$201m in H1

    Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting from the various services of the Qatar's Export Development & Promotion Agency (Tasdeer). In a report, Tasdeer highlighted the momentum witnessed by the participation of small and medium-sized companies in...
  • Ukraine to continue grain exports despite Russia’s exit from deal

    Putin has been threatening to pull out of the arrangement, arguing that elements of the deal allowing the export of Russian food and fertilizers have not been honored. Russia also accuses rich countries of profiting from the bulk of Ukrainian exports. But Zelensky says that "60% of the volumes" were...
  • Millions will ‘pay the price’ of Russia’s grain deal exit: UN chief

    The move by Moscow will "strike a blow to people in need everywhere", Guterres said. "Hundreds of millions of people face hunger and consumers are confronting a global cost-of-living crisis. They will pay the price," the UN chief said.
  • Fears over Syria’s proposed control on aid to rebel-held areas

    They worry over the fate of residents in Syria's last remaining rebel strongholds, in the north and northwest, after the Security Council failed on Wednesday to extend the mechanism. Under a 2014 deal, aid had largely passed through the Bab al-Hawa crossing with Turkey without the authorization of Damascus.
  • Damascus conditions for cross-border aid ‘unacceptable’: UN

    A letter this week from Syrian authorities allowing use of the border crossing between Turkey and Syria "contains two unacceptable conditions," according to a document sent to the UN Security Council from the Office for the Coordination of Humanitarian Affairs (OCHA). The 15 UN Security Council members had been trying...
  • Deals worth $613m signed Saudi-Turkish Business Forum launch

    Dubai, UAE -- Deals worth SAR 2.3 billion ($613 million) were signed between Saudi Arabian and Turkish companies on the sidelines of the Saudi-Turkish Business Forum that kicked off in Istanbul on Wednesday. The deals have been signed for real estate development, construction, engineering consultancy and a number of other...
  • United Nations fails to agree on extending vital Syria aid lifeline

    Russia vetoed a nine-month extension of the agreement allowing for the conduit during a vote at the UN headquarters in New York, and then failed to muster enough votes to adopt just a six-month extension. The UN-brokered agreement that allows for the delivery of aid overland from Turkey into rebel-held...
  • NATO to discuss Ukraine bid to join at summit

    German Patriot missile systems and French fighter jets were guarding the skies as NATO leaders gathered in Lithuania, on NATO's eastern flank and a land once occupied by Moscow. The Western military alliance is set to offer its full-throated backing for Kyiv's quest for victory, but its 31 nations are...