ILEA001721567: Türkiye's central bank doubles daily limits for rediscount credits to boost exports

Türkiye imposes export embargo on Israel pending Gaza ceasefire

STORY: Türkiye imposes export embargo on Israel pending Gaza ceasefire SHOOTING TIME: March 23, 2024 DATELINE: April 10, 2024 LENGTH: 00:01:14 LOCATION: Ankara CATEGORY: POLITICS SHOTLIST: 1. various of shipping trade in Türkiye (courtesy of ihlas news agency) STORYLINE: Türkiye enacted Tuesday new export restrictions on an array of products to Israel to push for a ceasefire in the Gaza Strip. The measures apply to 54 categories of products, including iron, paint, marble, steel, cement, aluminum, brick, fertilizer, construction equipment and products, as well as aviation fuel, according to a statement by the Turkish Trade Ministry. "This decision will remain in effect until Israel, within the framework of its obligations under international law, declares an immediate ceasefire in Gaza and allows a sufficient and uninterrupted flow of humanitarian aid into the strip," the ministry said. Israel must be "in full cooperation with the United Nations to allow the uninterrupted provision of all ba

Turkish central bank raises policy interest rate to 50 pct

STORY: Turkish central bank raises policy interest rate to 50 pct SHOOTING TIME: November 2023 and March 2024 DATELINE: March 22, 2024 LENGTH: 00:01:25 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the Turkish Central Bank (Nov. 30, 2023) 2. various of the Turkish lira (Nov. 30, 2023) 3. various of people at a shopping mall in Türkiye (March 19 2024) (courtesy of ihlas news agency) 4. various of people at a supermarket in Türkiye (March 14, 2024) (courtesy of Ankara Metropolitan Municipality) 5. various of the Turkish lira (Nov. 30, 2023) 6. various of Fatih Karahan, governor of Turkish Central Bank (March 12, 2024) (courtesy of ihlas news agency) 7. various of the Turkish Central Bank (Nov. 30, 2023) STORYLINE: Türkiye's central bank has resumed its interest rate hikes, increasing the policy rate by 500 basis points to a substantial 50 percent, the bank said in a statement on Thursday. The move came as the bank aimed to tackle the persistent inflation that has been higher than anticipated

China's Xinjiang posts robust foreign trade growth in Jan-Feb

STORY: China's Xinjiang posts robust foreign trade growth in Jan-Feb SHOOTING TIME: Archives DATELINE: March 21, 2024 LENGTH: 00:00:33 LOCATION: URUMQI, China CATEGORY: ECONOMY SHOTLIST: 1. various of land ports and freight trains in Xinjiang STORYLINE: The foreign trade of northwest China's Xinjiang Uygur Autonomous Region surged by 51.4 percent year on year in the first two months of this year, local authorities said. The region's total imports and exports reached 63.69 billion yuan (about 8.97 billion U.S. dollars) during this period, according to the Urumqi Customs. In the January-February period, the region engaged in trade with 186 countries and regions worldwide. Its trade with five Central Asian countries amounted to 43.74 billion yuan, accounting for 68.7 percent of the total. Private enterprises in Xinjiang showed a strong performance in foreign trade during the period. Their trade value soared 48.1 percent year on year to reach 59.81 billion yuan, accounting for 93.9 percent of the r

Türkiye to introduce anti-dumping measures on solar panel imports from 5 countries

STORY: Türkiye to introduce anti-dumping measures on solar panel imports from 5 countries SHOOTING TIME: March 19, 2024 DATELINE: March 20, 2024 LENGTH: 00:01:20 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of solar power plants in Türkiye (courtesy of ihlas news agency) STORYLINE: Türkiye announced Tuesday that it will introduce anti-dumping measures for importing solar panels from Vietnam, Malaysia, Thailand, Croatia, and Jordan. A guarantee fee of 25 U.S. dollars per square meter will be applied to products imported from these countries as of March 26, according to a communique published by the country's Trade Ministry on Tuesday. The anti-dumping measures will be imposed on the import of "photovoltaic cells assembled in modules or arranged in (solar) panels" from these countries, it said. The principles regarding the application of a guarantee fee for importing the product were determined within the scope of an investigation initiated on Nov. 25, 2023, said the communique. Xinhu

Turks rush for USD as lira continues to depreciate amid high inflation

STORY: Turks rush for USD as lira continues to depreciate amid high inflation SHOOTING DATE: earlier footage DATELINE: March 8, 2024 LENGTH: 00:01:27 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city 2. various of exchange office, clerk in exchange office 3. various of Turkish Central Bank, Turkish lira 4. various of Grand Bazaar, exchange office in Istanbul, Türkiye STORYLINE: The U.S. dollar's ascent against the Turkish lira continued on Thursday, leading to increased demand for the U.S. currency among Turkish citizens. The dollar was trading at 31.85 liras at 2 p.m. local time (1100 GMT), showing a slight increase from Wednesday's closing rate of 31.79 liras. In Istanbul's Grand Bazaar, an area teeming with currency exchange offices, the dollar briefly surpassed the 32-lira mark on Wednesday, prompting a surge in demand for the greenback. Long lines have formed outside these exchange offices since Wednesday as people rush to acquire dollars in anticipation of further

Turkish central bank keeps interest rate unchanged at 45 pct

STORY: Turkish central bank keeps interest rate unchanged at 45 pct SHOOTING TIME: Feb. 22, 2024 DATELINE: Feb. 23, 2024 LENGTH: 00:00:29 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping 2. various of Turkish Treasury and Finance Minister Mehmet Simsek 3. various of Fatih Karahan, the new Governor of Turkish Central Bank STORYLINE: Türkiye's central bank kept its interest rate unchanged at 45 percent on Thursday, completing a monetary tightening cycle to set the course for disinflation. "The current level of the policy rate will be maintained until there is a significant and sustained decline in the underlying trend of monthly inflation and until inflation expectations converge to the projected forecast range," said the bank in a statement. It added that the monetary policy stance will be tightened if a significant and persistent deterioration in the inflation outlook is anticipated. "Monetary transmission mechanism will be supported in case of unanticipated developmen

Turkish currency plunges to new low against USD amid high inflation

STORY: Turkish currency plunges to new low against USD amid high inflation SHOOTING TIME: Feb. 16, 2024 DATELINE: Feb. 17, 2024 LENGTH: 00:01:10 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city in Türkiye 2. Murat Tufan, an analyst with Turkish broadcaster Ekoturk speaking in an interview 3. various of Turkish Minister of Treasury and Finance Mehmet Simsek speaking at the Türkiye-Saudi Arabia Investment and Business Forum in Istanbul, Türkiye 4. various of Turkish Central Bank 5. various of Fatih Karahan, Turkish Central Bank chief STORYLINE: The Turkish currency plunged to a new low on Friday against the U.S. dollar, losing 0.3 percent of its value in 24 hours while the country has been trying to curb high inflation. The lira stood at 30.83 against the dollar at 4:00 p.m. local time (1300 GMT) after hitting 30.87. Murat Tufan, an analyst with Turkish broadcaster Ekoturk, told Xinhua that for the lira to appreciate, inflation needs to be seriously curbed in Türkiy

Expert remains cautious about inflation forecast in Türkiye

STORY: Expert remains cautious about inflation forecast in Türkiye SHOOTING TIME: Feb. 8, 2024, File DATELINE: Feb. 10, 2024 LENGTH: 00:05:01 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference of Fatih Karahan, the new Governor of Turkish Central Bank (Feb. 8, 2024) (courtesy of ihlas news agency) 2. various of Turkish Central Bank 3. various of Turkish lira 4. various of some apartments in Ankara, Türkiye 5. various of fields in Türkiye (01:03-02:12) (Aug. 5, 2022) (courtesy of ihlas news agency) 6. various of Turkish lira 7. SOUNDBITE (Turkish): MUSTAFA SONMEZ, Istanbul-based economist STORYLINE The new head of Türkiye's central bank said the bank will maintain its tight policy stance until high inflation drops to target, as it held its year-end consumer price forecast at 36 percent. In a press conference in the capital city of Ankara, Fatih Karahan said that monetary tightness will be maintained so long as a disinflation process yields results. Karahan recently replaced H

Turkish police detain 147 IS suspects across country

STORY: Turkish police detain 147 IS suspects across country SHOOTING TIME: Feb. 8, 2024 DATELINE: Feb. 9, 2024 LENGTH: 00:01:02 LOCATION: Ankara CATEGORY: POLITICS SHOTLIST: 1. various of Turkish police detaining 147 suspects affiliated with the Islamic State (IS) across 33 provinces of Türkiye (courtesy of Turkish Interior Ministry) 2. various of 16 IS suspects being detained in southern Mersin province of Türkiye (courtesy of ihlas news agency) STORYLINE: Turkish police detained 147 suspects affiliated with the Islamic State (IS), a cabinet minister said on Thursday. The suspects were captured as part of "Operation Heroes-49" across 33 provinces in the country, Interior Minister Ali Yerlikaya wrote in a post on X, formerly Twitter. A video posted on Yerlikaya's X account showed police entering apartments and buildings and dragging suspects into cars. In a separate operation carried out by the police teams in southern Mersin province, along with national intelligence forces on Thursday, 16 IS

S. Korea logs current account surplus for 8th month in December

STORY: S. Korea logs current account surplus for 8th month in December SHOOTING TIME: file DATELINE: Feb. 8, 2024 LENGTH: 00:01:03 LOCATION: Seoul CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Korea (BOK) (July 18, 2019) 2. various of Busan container terminal (March 7, 2023) 3. various of semiconductor production line (courtesy of Samsung Electronics, July 9, 2019) 4. various of automobile export site (courtesy of Hyundai Motor Company, Oct. 24, 2019) 5. various of Seoul streets (courtesy of Yonhap TV, Feb. 7, 2024) STORYLINE: South Korea logged current account surplus for the eighth straight month in December last year due to export recovery, central bank data showed Wednesday. Current account balance, the broadest measure of cross-border trade, posted a surplus of 7.41 billion U.S. dollars in December 2023, staying in black since May, according to the Bank of Korea (BOK). Trade surplus for goods stood at 8.04 billion dollars in December, hovering in black since April. Export grew 5.8 percent f

Türkiye's central bank doubles daily limits for rediscount credits to boost exports

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