Economy of the United Kingdom
Competition authority approves acquisition of Tesco Kipa by Migros
Turkey's Competition Authority has approved Migros Ticaret A.Ş.'s acquisition of 95.5 percent of the shares of Tesco Kipa, the purchaser said in a statement late on Feb. 9.
Thomas Cook says demand picking up for Egypt holidays
British travel group Thomas Cook said on Feb. 9 that demand for holidays in Egypt is picking up again, after unrest in the North African nation had pushed holidaymakers into choosing rival sun spots.
Repossessed homes hitting the market
The process for the sale of properties in packages - most of them homes - has entered its final stage after those assets were repossessed by banks due to unpaid mortgages.
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Tourism, trade fall blamed for deficit hike in Turkey
Turkey's current account deficit has widened and is standing at $1.68 billion in October, up by almost $1.33 billion year-on-year, the Central Bank stated on Dec. 12.
The Bank cited a fall in income from tourism and foreign trade for the decline.
Turkey's current account deficit widens in September
Turkey's current account deficit stood at $1.7 billion in September, an increase from a $167 million surplus in the same month of 2015.
The Central Bank stated on Nov. 11 that this was due to a decline in income from tourism and an increase in imports.
M&S strips down
Today, the British multinational retailer Marks & Spencer officially announced plans to close 30 of its clothing and homeware shops in the United Kingdom and to convert others into food stores, according to Bloomberg. The announcement came after the company reported sagging sales and profits this year.
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Britain's Vodafone enters Iranian market
Vodafone has agreed a partnership with Iranian internet firm HiWeb to help modernize its network, the companies said on Oct. 18, making the British company the latest Western firm to enter Iran after sanctions were lifted.
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Turkey's current account deficit widens
Turkey's current account deficit has widened, standing at $1.78 billion in August, up almost by $2 billion year-on-year, due to a decline in income from tourism and imports, the Central Bank said in a report on Oct. 12.
The 12-month rolling deficit rose to $31.02 billion, up from $29 billion in July, according to the report.
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Serbia made "biggest contribution" to regional growth trend
Southeast European countries are registering higher growth and a decline of high unemployment rates, the World Bank has said.
Serbia, as the largest economy in the region, has made the biggest contribution to this trend.
RBS starts winding down shipping finance business
Royal Bank of Scotland has begun winding down its global shipping finance business, it said on Tuesday, ending efforts to sell it amid a worsening downturn across the freight industry.
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