Factor seeks partnership with bank giant

Turkey Economy Bank (TEB) Financial Investments Inc., the private banking, factoring, leasing and investment group, announced yesterday that it is starting discussions with the French finance group, BNP Paribas, regarding a possible joint venture.

Slovenia sign deal to boost trade cooperation

Following the Joint Economic Commission (KEK) meeting in Ankara, Deputy Prime Minister Abdullatif Sener and Slovenian Economy Minister Tea Tapetrin signed the KEK Protocol, an agreement to boost economic cooperation.

Eximbank cuts export loan rates

State Minister Kursad Tuzmen has announced that Eximbank has cut its short-term lira export loan rates by two per cent and its forex export loan rates by 0.25 per cent.

Official export-credit programmes

Teximbank operates programmes designed to insure exports against commercial and political risks. The majority of the companies accessing the service are small, first-time entrants to what are deemed high-risk export markets.

Banks' long-term credit rating improving

Things are looking up in Turkey. The Fitch Agency, which issues international credit ratings, has upgraded both Turkey's credit rating and the credit rating of 18 of its banks in long-term local and foreign currency.

Exports rise 37% in January

Turkey's exports rose 36.9 per cent year-on-year to US$4.73bn in January, the Turkish Exporters Assembly (TIM) said.

Toprak Factoring joins Altэnbaю group

Toprak Factoring A.Ю., which was taken over by the Banking Regulation and Supervisory Agency (BRSA) in 2001, has announced that an 83% stake in the company has been sold to Altэnbaю Holding A.Ю., a group of companies operating in the jewellery, en