Gov't hires HSBC JPMorgan to sell dollar bonds

The government hired HSBC Holdings and JPMorgan Chase & Co. to sell dollar-denominated bonds maturing in 2015 the Treasury said. The Ankara-based Treasury made the announcement in an e-mailed statement yesterday. The government has sold $2 billion of global bonds this year and plans to sell an additional $3.5 billion according to the Treasury's annual borrowing plan.

ANK - Bloomberg



Stock market suffers another fall



Istanbul Stock Exchange's IMKB-100 index lost 129 points yesterday falling to 38006 from Wednesday's close of 38136. Pimaş gained most rising 13 percent to YTL 2.78 while Taç Yatırım Ortaklığı was the most depreciating stock shedding 4.69 percent and falling down to YTL 2.44. The U.S. dollar traded at YTL 1.2278 at 5:11 p.m. while the euro traded at YTL 1.9012.

ISTANBUL - Turkish Daily News

ITHIB head remains unchanged

The Istanbul Textile and Raw Materials Exporters' Union or ITHIB re-elected Ismail Gülle as its head in a general meeting Tuesday. Oguz Satici chairman of the Turkish Exporters' Assembly was re-elected as a board member of ITHIB affiliated to the General Secretariat of Istanbul Textile & Apparel Exporter Associations or ITKIB which will elect its new president on June 24.

ISTANBUL - Referans

Parsan advances most in two months

Parsan Makina a Turkish manufacturer of vehicle parts jumped the most in two months in Istanbul trading after the stock was upgraded to "strong buy" from "hold" at Raymond James Securities. Parsan rose 8.3 percent to YTL 2.34 yesterday. That's the biggest gain since April 28. The Istanbul-based brokerage more than doubled its price estimate for Parsan stock to YTL 5.30 per share citing rising steel prices.

ISTANBUL - Bloomberg

Association awards export leaders

The Istanbul Mineral and aaaals Exporters' Association or IMMIB which features six exporter unions covering 33 percent of Turaaa's exports awarded its top-exporting members. Tüpraş Turaaa's biggest energy company Vestel Foreign Trading and Arçelik Turaaa's biggest maker of household appliances grabbed the top spots. Out of Turaaa's exports totaling $105.9 billion in 2007 IMMIB's members provided a slice of $34 billion.

ISTANBUL - Turkish Daily News

Olive oil partnership comes to an end

The chairman of the Zeytindostu Association Metin Ölken and the Italian owner of the world's biggest olive oil firm Giuseppe Gasparini ended their partnership in Rast an Aegean-based international trade firm. The separation after nine years stems from the bad season in olive oil and financial disagreement between the partners. Gasparini also announced his departure from Turaaa's olive oil market.

İZMIR - Referans