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Erdogan Says Turkey Bank Will be Treasury Property

Turkish President Recep Tayyip Erdogan on Tuesday said the country's largest private lender Isbank, partly owned by the main opposition party, would become a property of the Treasury, causing  the bank's shares to plunge.

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Renault-Nissan to Work with Google's Waymo on Driverless Cars

The three-way alliance of Renault, Nissan and Mitsubishi Motors is planning a deal to work with Google's Waymo to jointly develop self-driving taxis, Japan's Nikkei said Tuesday.

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Russian Oil Giant Rosneft Doubled Net Income in 2018

Russia's biggest oil company Rosneft said Tuesday it more than doubled its net income last year, taking advantage of the climbing price of crude despite an unstable market.

The state-controlled company reported a net income of 549 billion rubles ($8.4 billion, 7.3 billion euros) in 2018, up from 222 billion rubles the previous year. Revenues increased by 37 percent year on year to 8.2 trillion rubles.

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World Bank Leading the Charge on Development Finance

The World Bank, whose new president is due to be appointed by mid-April, is a global financial organization whose mission is to end extreme poverty by supporting development projects.

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Pound Falls as May Plans Fresh Brexit Assault

The pound dropped Monday following weak UK construction data and as Prime Minister Theresa May seeks to try and finally unlock the Brexit stalemate.

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UK Seeks to Reassure Foreign Investors over Brexit

Britain on Monday will seek to reassure foreign investors worried about Britain leaving the EU after Japanese automaker Nissan said it was scrapping a major planned investment less than two months before Brexit.

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Turkish Inflation Resumes Rise in January

Turkish inflation slightly surged 1.06 percent in January from December after two months of slowdown, reaching an annual rate of 20.35 percent, driven by higher food prices, official statistics showed Monday.

The highest monthly increase was recorded in food, at 6.43 percent, according to the Turkish statistics office (TUIK).

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Nissan Poised to Propose Ghosn Replacement on Board

The board of Japanese car giant Nissan is poised to suggest a replacement for jailed former chairman Carlos Ghosn at a meeting in Tokyo on Tuesday, according to local media.

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Once Red-Hot Smartphone Market Sees Cooler Trend

The smartphone market is down but not out, with high prices and other factors combining to chill what had previously been a red-hot sector.

Fresh surveys show global sales had their worst contraction ever in 2018, and the outlook for 2019 isn't much better.

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Nissan Cancels Investment Plan for UK Plant

Japanese car manufacturer Nissan announced Sunday it was cancelling plans to build its X-Trail SUV at its plant in northeast England despite Brexit assurances from the government.

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