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Türk Telekom builds submarine cable station at Marmaris

Türk Telekom has built a high-capacity submarine data network at the Aegean resort town of Marmaris as a part of a $700-million project.

The SEA-ME-WE-5 project will connect 17 countries, including Turkey, to a system that stretches for more than 20,000 kilometers between Asia and Europe, according to company representatives. 

Low oil prices put strains on Gulf currency pegs

Weak oil prices pose a threat to Gulf Arab states' currency pegs against the dollar, but the energy-rich region is unlikely to abandon the policy yet, analysts say.

Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates all keep the values of their currencies fixed against the greenback, while Kuwait has a link to a basket of currencies including the dollar.

Turkey's trade deficit continues to decline in January amid plunge in oil, imports

Turkey's foreign trade deficit declined 13.4 percent year-on-year in January, in line with the oil plunge and the decreasing trend in imports. 

In January, the deficit fell to $3.76 billion, down from $4.34 billion from same month last year, plummeting 13.4 percent, according to data released by the Turkish Statistics Institute (TÜ?K) on Feb. 29. 

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