Trkiye’s BIST 100 index surges 5.05% at Monday’s close

Trkiye’s benchmark stock index ended Monday at 5,372.66 points, jumping 5.04% from the previous close.

Starting the week at 5,233.23 points, Borsa Istanbul’s BIST 100 index gained 257.69 points.

Investors’ sentiment was boosted by new appointed economy management in Trkiye on Saturday following the May elections.

A rule-based, predictable Turkish economy will be the key to achieving the desired prosperity, Trkiye’s new finance minister pledged on Sunday as he assumed his duty in a handover ceremony.

“Trkiye has no choice but to return to a rational ground,” Mehmet Simsek, who was named the finance and treasury minister on Saturday by President Recep Tayyip Erdogan in a renewed Cabinet lineup, said.

The index’s lowest value on Monday was 5,204.48, while its daily high was 5,374.58.

The total market value of BIST 100 was around 3.97 trillion Turkish liras ($199 billion) by market close, with a daily trading volume of 102 billion Turkish liras ($4.82 billion).

The price of an ounce of gold was $1,973.45, while Brent crude oil sold for around $77.14 per barrel as of 6.51 p.m. local time (1551GMT).

The US dollar/Turkish lira exchange rate was 21.2548, the euro/lira exchange rate was 22.7689, and the British pound traded at 26.4243 Turkish liras.

Source: Anadolu Agency

US stocks start week on soft note, ending lower

Major US stock exchanges closed lower Monday to start the new week on a soft note.

The Dow Jones Industrial Average fell almost 200 points, or 0.59%, to finish at 33,562. The S and P 500 lost eight points, or 0.2%, to 4,273.

The Nasdaq declined 11 points, or 0.09%, to end the session at 13,229.

The VIX volatility index, also known as the fear index, rose 0.9% to 14.73. The 10-year US Treasury yield, meanwhile, shed 0.14% to 3.690%.

The dollar index was flat at 104.03, while the euro was almost unchanged at $1.0713 against the greenback.

Precious metals were mixed, with gold rising 0.7% to $1,962 per ounce but silver trimming 0.2% to $23.57.

Oil prices increased around 0.3%, with global benchmark Brent crude at $76.44 per barrel and US benchmark West Texas Intermediate crude at $71.88.

Source: Anadolu Agency

European stocks close in red as exchanges begin new week with losses

European stocks closed Monday in the red as major exchanges started the new week with losses.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 2.22 points, or 0.48%, to finish at 459.93.

The UK’s FTSE 100 lost 7.29 points, or 0.1%, to end the session at around 7,600. Germany’s DAX 30 shed 87 points, or 0.54%, to 15,963.

France’s CAC 40 was the worst performer of the day, falling 69 points, or 0.96%, to close at 7,200.

Italy’s FTSE MIB, meanwhile, plummeted 211 points, or 0.78%, to 26,856.

Spain’s IBEX 35 trimmed 28 points, or 0.3%, to end at 9,289.

Source: Anadolu Agency

European Parliament committee discusses latest report on Trkiye

GENEVA (AA) – Members of the European Parliament on Monday discussed the EP’s 2022 report on Trkiye, an official candidate for EU membership.

Foreign Affairs Committee discussion in Brussels on the draft report prepared by Trkiye Rapporteur Nacho Sanchez Amor was held under the chairmanship of David McAllister.

The report was expected to be released in April but it was delayed due to Trkiye’s May parliamentary and presidential elections to include evaluations in line with the election process and outcome.

After being finalized, the draft report is expected to be voted on and then approved by the committee. Then it will be brought to the European Parliament General Assembly this summer for another vote.

Trkiye applied for EU membership in 1987 and its accession talks began in 2005. But negotiations stalled in 2007 due to political objections by the Greek Cypriot administration, as well as opposition from Germany and France.

In recent years, Turkish officials have slammed the annual EP reports on Trkiye as being one-sided and applying double standards, and declared the reports null and void.

Source: Anadolu Agency

Cypriot FM begins working visit to Abu Dhabi, Jeddah, Riyadh

Cypriot Minister of Foreign Affairs, Constantinos Kombos, will travel to Abu Dhabi on Monday, on a working visit during which he will discuss bilateral relations, the Cyprus issue, as well as regional and international developments.

According to a press release issued by the Ministry of Foreign Affairs, the Minister on Monday will have a tete-a-tete meeting and extended consultations with the Minister of Foreign Affairs of the United Arab Emirates, Sheikh Abdullah Bin Zayed Al Nahyan.

The Foreign Minister will then travel to Jeddah, Saudi Arabia, where on Tuesday he will meet with his Saudi counterpart, Prince Faisal bin Farhan Al Saud, and expanded consultations will follow.

Kombos will then travel to Riyadh, where on Thursday, will participate in the works of the Ministerial Meeting of the International Coalition against Daesh/ISIS, co-organized by the Minister of Foreign Affairs of the Kingdom of Saudi Arabia and the Secretary of State of the United States.

The main objective is coordinating international efforts to combat terrorism.

On the sidelines of the meeting of the International Coalition against Daesh/ISIS, Kombos is expected to have contacts with his counterparts, during which he will have the opportunity to exchange views in relation to the prospects for cooperation in the wider Gulf region.

The FM’s visit takes place at a time when Saudi Arabia is at the centre of important changes in the region, upgrading its status and geopolitical and economic role after the restoration of its diplomatic relations with Iran, which led to a series of opportunities for de-escalation of regional tensions, particularly in Yemen, Syria and Iraq.

Arabian Gulf an immediate priority for our foreign policy, FM spokesperson says

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The Arabian Gulf region is an immediate priority for our foreign policy, Spokesperson of the Cyprus Foreign Affairs, Theodoros Gotsis, has told the Cyprus News Agency.

He also mentioned that the bilateral relations between Cyprus and Saudi Arabia during the last five years have been developing at the highest level of political dialogue, giving new impetus and perspective for further deepening and expanding the cooperation of the two countries, in areas of mutual interest.

Gotsis recalled that last March the Minister of Investments of Saudi Arabia paid a visit to Cyprus, during which a Cooperation Program Framework in the field of Investments was signed.

The Saudi Minister of Investments was the first foreign official with whom the President of the Republic, Nikos Christodoulides, met after assuming his duties. Crown Prince’s wish to pay Cyprus an official visit was also conveyed.

Gotsis furthermore said that MFA’s visit to the Arabian Gulf comes a few weeks after the visit of the UAE Minister of Foreign Affairs, Sheikh Abdullah bin Zayed Al Nahyan to Cyprus, to congratulate the President of the Republic, after assuming his duties.

He also recalled that during the visit last year of the former President of the Republic, Nicos Anastasiades, to the United Arab Emirates, to participate in the Dubai Expo, the Joint Declaration on the Establishment of Integrated Strategic Cooperation was signed, which includes seven areas of the expanding bilateral relationship, among them energy.

Source: Cyprus News Agency

Pedagogical Academy Park to become model in water management, Commissioner says

The Commissioner for the Environment, Maria Panayiotou, said that the Pedagogical Academy National Forest Park in Nicosia is set to become a model in terms of water management.

In a press release issued on the occasion of the World Environment Day, which is celebrated on June 5th every year, the Commissioner notes that this day ”is an opportunity to highlight our commitment to addressing the environmental challenges facing our planet and to recognise the urgent need for action and cooperation to protect our planet for future generations.”

Furthermore, the Office of the Commissioner for the Environment announces together with the Department of Forests the launch of a project aimed at establishing the Pedagogical Academy National Forest Park in Nicosia as a model park in water management.

”Through this project we are proving in practice that we are moving from words to actions and highlighting the park as a model for optimal water management, encouraging the efficient use and protection of water resources,” the press release adds.

”With these initiatives, the Office of the Commissioner for the Environment seeks to promote sustainable development, sustainable management of natural resources and protection of the environment for future generations,” the press release concludes.

Source: Cyprus News Agency

?oat ran aground in Ayia Napa, passengers rescued

Ten people aboard a vessel flying the British flag that ran aground in the Ayia Napa area were rescued on Sunday afternoon, in an operation of the Joint Rescue Coordination Center (JRRC).

The JRCC said in a statement that it had received information at around 16:25 about the grounding in shallow waters of the United Kingdom-flagged vessel REBECCA, with 10 people aboard, in the sea area of Ayia Napa.

Vessels of the Port and Maritime Police and the Ayia Napa Marina were mobilised, it adds, as well as volunteers on Jet Skis who managed to bring everyone on board safely to shore.

The vessel remains at the beaching point, the JRCC said, adding that the Deputy Ministry of Shipping, the Department of Fisheries, as well as the Marine Accidents and Incidents Investigation Committee have been notified for further actions of their competence.

Source: Cyprus News Agency