Allianz has applied to regulator to remove its Turkish insurer from Istanbul Stock Exchange, Munich- based company says in a statement. * Allianz to offer 18.8 liras per share for Yapi Kredi Sigorta * Shares traded at 24.75 liras before announcement * NOTE: Allianz bought Yapi Kredi Sigorta last year for 1.24b liras from Yapi ve Kredi Bankasi AS, the Turkish lender part- owned by UniCredit
Prime Minister Recep Tayyip Erdogan took a step toward making Turkey’s financial capital a regional hub, relegating the Istanbul Stock Exchange to history as he rang the opening bell at the new Borsa Istanbul.
BlackRock Inc., the world’s biggest money manager, and billionaire Dan Loeb’s Third Point LLC. are among investors hurt by slumping Turkey stocks as a corruption probe into businessmen and politicians prompted declines.
European Union leaders’ calls for banking union lack concrete proposals for funding a new joint financial-sector backstop, as showcased in the debate on whether the euro area’s firewall could provide direct aid to banks.
The owners and managers of Mango Gida Sanayi & Ticaret AS, a Turkish food processor, sold more than a third of the company’s shares in the months before announcing creditor demands that sent the stock tumbling.