DIRS.INFO The most relevant business & tech news

Turkey said on Friday that it would suspend all trade with Israel until there was a “permanent cease-fire” in the Gaza Strip, the latest international sanction against Israel and one that underscores the mounting global pressure to end the war in the territory. Turkey’s announcement built on statements the previous day that it had halted all trade with Israel until “uninterrupted and adequate humanitarian aid is allowed into Gaza.” But even as Turkey announced the measures, Israel continued its repeated warnings that it was preparing for an offensive in the southern Gaza city of Rafah that the United Nations said on Friday could result in a “slaughter” in Gaza. In announcing the trade suspension, the Turkish trade minister, Omer Bolat, spoke of Israel’s “uncompromising attitude.” Turkey’s president, Recep Tayyip Erdogan, told a business association on Friday that he anticipated backlash from Western countries but that Turkey had decided to “stand side by side with the persecuted.”

Persons: Israel, Omer Bolat, Israel’s, ”, Recep Tayyip Erdogan Organizations: Israel, United Nations Locations: Turkey, Israel, Gaza, Rafah

☆ Erdogan, Eyeing More Trade With Iran, Says Turkey Weighing Opening New Border Crossings
▼ + stars: | 2024-01-25 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - Turkey is considering opening new border crossings with eastern neighbour Iran, President Tayyip Erdogan said late on Wednesday after talks with his Iranian counterpart, as they seek to revive sagging economic relations. Trade between Turkey and Iran peaked in 2012 at nearly $22 billion but has since fallen. Efforts to establish trade centres in border (areas) to increasing the economic development of our border provinces continue," he said. Turkey, a NATO ally, and Iran currently have four border crossings between them. Turkey, which has also been hit with U.S. sanctions for acquiring Russian defence systems, opposes what it calls unilateral economic sanctions as a policy.

Persons: Tayyip Erdogan, Erdogan, Ebrahim Raisi, Omer Bolat, Daren Butler, Gareth Jones Organizations: Turkish Trade Locations: ANKARA, Turkey, Iran, Tehran, NATO, Ankara

Retail pasta prices rose about 12% this year in Europe and 8% in the United States, according to market research firm Nielsen. CANADA DRYWhen the Prairies turned dry this summer, Canadian farmer Darold Niwa saw hopes of a bumper durum harvest dashed. Durum, the hardest wheat, produces pasta with the prized "al dente" firm texture, unlike soft wheat. In the meantime, Vincenzo Martinelli, president of the durum section of Italian millers association Italmopa, nervously awaits the outcome of the Canadian harvest. "Without Canada, prices will only go up," he said.

Persons: De, Continental Noodles, Vincent Liberatore, Liberatore, Darold Niwa, Jerry Klassen, Philip Werle, There's, Severine, Maisons, Vincenzo Martinelli, Gus Trompiz, Rod Nickel, Emilio Parodi, Ceyda, Julie Ingwersen, Michael Hogan, Caroline Stauffer, David Gregorio Our Organizations: Foods, Nielsen, Grains, CANADA, Prairies, Statistics, Traders, Northstar, European Union, Thomson Locations: Fara San Martino, Italy, PARIS, WINNIPEG , Manitoba, Canada, Turkey, Toronto, Continental, Spain, India, Europe, United States, Oyen , Alberta, durum, Statistics Canada, France, Algeria, TURKEY, Turkish, American, Russia, North Africa, Milan, Ceyda Caglayan, Istanbul, Chicago, Hamburg

We are not bound by the West’s sanctions,” Erdogan told CNN’s Becky Anderson. APBy contrast, Erdogan has doubled down on his relationship with Putin – and he thinks the West should follow suit. “This was possible because of our special relationship with President Putin,” he told CNN, referring to the grain deal. In his interview with CNN, Erdogan tackled another key flashpoint in Turkish tensions with the West: Sweden’s accession to NATO. Turkish President Recep Tayyip Erdogan tells CNN's Becky Anderson, left, he expects voters who value stability and confidence to back him in the May 28 runoff vote.

☆ German exports to Russia's neighbours fuel sanctions evasion fears
▼ + stars: | 2023-05-16 | by ( Rene Wagner | ) www.reuters.com time to read: +4 min

Although they remain relatively modest in value, German exports to Georgia rose by 92%, while those to Kazakhstan rose 136%, to Armenia 172% and to Tajikistan 154%. An 11th package of EU sanctions, currently being negotiated, will also focus on people and countries circumventing existing trade restrictions. "The circumvention of sanctions against Russia is unacceptable," German Finance Minister Christian Lindner said in Brussels on Tuesday. That came after a six-fold rise in German exports to Kyrgyzstan last year following Russia's February 2022 invasion of Ukraine. "But because Turkey does not participate in EU sanctions, EU goods are further exported from there to Russia."

☆ Shipping containers ablaze at Turkey's Iskenderun Port, operations halted
▼ + stars: | 2023-02-07 | by ( Antony Paone | ) www.reuters.com time to read: +3 min

ISKENDERUN, Turkey, Feb 7 (Reuters) - Hundreds of shipping containers were ablaze at Turkey's Iskenderun Port on Tuesday, shutting down operations and forcing freight liners to divert vessels to other ports. Leading global container shipping group AP Moller Maersk said there had been significant damage to logistics and transport infrastructure around the earthquake epicentre, including at the Port of Iskenderun. We are currently planning to divert containers to nearby hubs within operational feasibility or hold at transhipment ports - including Port of Mersin (in Turkey) and Port Said (in Egypt)," it said. [1/3] Smoke rises from burning containers at the port in the earthquake-stricken town of Iskenderun, Turkey, February 7, 2023. German container shipping line Hapag Lloyd said it was taking shipments from Mersin given the closure of Iskenderun.

☆ Turkish 2022 trade deficit leaps 138% to $110.2 billion -ministry
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: 1 min

ISTANBUL, Jan 2 (Reuters) - The Turkish trade deficit widened 138.4% from the previous year to $110.19 billion in 2022, the Trade Ministry said on Monday, with exports rising 12.9% to $254.2 billion and imports jumping 34.3% to $364.4 billion. In December, the trade deficit widened 52% from a year earlier to $10.381 billion, with exports up 3.1% to $22.92 billion and imports rising 14.6% to $33.30 billion. Reporting by Daren Butler and Ebru Tuncay; Editing by Ece ToksabayOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Turkish Trade"

7 mentions found