finances in the East

Another Turkish bank begins accepting Mir cards

Another Turkish bank begins accepting Mir cards

The fourth largest bank in Turkey has joined the acceptance of cards of the Russian payment system "Mir", ATOR reports. At the end of May, DenizBank was added to the credit organizations Ziraat Bankası, Vakıfbank and Iş …

Reebok sells its business in Russia to Turkish retailer

Reebok sells its business in Russia to Turkish retailer

Turkey's online shoe store FLO and an American fitness footwear and clothing manufacturer Reebok have signed a cooperation deal: the new owner now has 100 Reebok stores in Russia. The Russian-Turkish deal's three …

Russian Mir card may be recognized in Iran

Russian Mir card may be recognized in Iran

Iranian Ambassador to Russia Kazem Jalali said that Tehran is discussing with Moscow the Mir payment system recognition. "This issue is on the agenda, which we are discussing with our Russian colleagues," RIA Novosti quoted …

New banknotes to be issued in Uzbekistan

New banknotes to be issued in Uzbekistan

The Central Bank of Uzbekistan in 2024 will put into circulation a 200 thousand soums banknote. "A lot of people say the issue of new bills is an indication of inflation. No, it is not. We simply exchange old bills for …

Erdoğan:  Turkey's minimum wage to grow by 50% next year

Erdoğan: Turkey's minimum wage to grow by 50% next year

Turkish President Recep Tayyip Erdogan today announced the new minimum wage in the country for 2022, which will be 4250 liras. "The national minimum wage for the coming year is 50% higher than the current rate. We …

Erdogan promises to stabilize prices in six months

Erdogan promises to stabilize prices in six months

Turkish President Recep Tayyip Erdogan addressed the nation today at the opening of industrial facilities in Siirt province. The Turkish leader urged citizens to trust the authorities since Ankara's goal is to improve the life of the …

Uzbekistan-Turkey military-financial cooperation approved

Uzbekistan-Turkey military-financial cooperation approved

According to Uzbek media, today, the President of Uzbekistan, Shavkat Mirziyoyev approved an intergovernmental agreement with Turkey on military-financial cooperation. The relevant data are contained in the decree signed by Mirziyoyev …

Iran decided to attract global investments

Iran decided to attract global investments

Iranian President Hassan Rouhani addressed citizens of Iran saying that the republic needs to maintain constructive contact with the outer world. The President expressed confidence that Iran has an opportunity to become a centre of attraction for …

Sberbank hopes to close sale of Denizbank in July

Sberbank hopes to close sale of Denizbank in July

Russia’s national top lender Sberbank has no plans to expand its international presence, Sberbank CEO German Gref said. "We have no international expansion plans," he said. The CEO of …

Islamic Economy Forum opens in Astana

Islamic Economy Forum opens in Astana

The Islamic Economy Forum opened in the capital of Kazakhstan, Astana, today within the Astana Finance Days. The main goal of the forum is to conduct a comprehensive and representative discussion on the economic and geopolitical growth …

Kazakh National Bank suspends Bank of Astana’s license

Kazakh National Bank suspends Bank of Astana’s license

Kazakhstan's National Bank suspended the license of Bank of Astana JSC for accepting individual deposits and opening individual bank accounts, the National Bank says in a press release. The restrictions will continue being …

 Kazakh National bank reduces base rate

Kazakh National bank reduces base rate

The National Bank of Kazakhstan decided to reduce the base rate from 9.75% to 9.5% with a +/- 1% corridor, the press-service of the financial controller said in a message .  The report says that annual inflation continues to …

Saudi Arabia to establish $8bn export bank

Saudi Arabia to establish $8bn export bank

Saudi Arabia will establish an export bank with capital of $8 billion to support overseas sales by its industrial and mining projects, the country's energy, industry and mineral resources minister Khalid Al Falih said. …

Islamic Development Bank plans to acquire Turkish Adabank

Islamic Development Bank plans to acquire Turkish Adabank

The Islamic Development Bank (IDB) intends to acquire the Turkish Adabank, the head of the Banking Supervision Authority of Turkey (BDDK), Ali Akben said. He also noted, if the deal is signed, Adabank will be issued a license to operate on an …