The financial crisis in Cyprus is an historic opportunity for Turkey to win peace and bolster its European Union accession bid by offering a bailout, Standard Bank Group’s chief emerging-market economist said.
Turkey is working on a $700 million project for a dam and 107-kilometer (66-mile) pipeline under the Mediterranean Sea to supply fresh water to northern Cyprus, Deputy Prime Minister Besir Atalay said today.
The Turkish Cypriot administration could go bankrupt for not following protocols related to how Turkish aid should be spent, Hurriyet newspaper cited Turkey’s minister in charge of Cypriot affairs, Cemil Cicek , as saying.
Mary Jo White, U.S. President Barack Obama’s choice to run the Securities and Exchange Commission, may be compelled to provide more information about her ties to large banks as senators press her today about how she would operate as Wall Street’s regulator.
The breakaway Turkish Cypriot state in northern Cyprus will soon open bids for the distribution of water through a 480-kilometer (300-mile) network, Turkey’s state-run Anatolia news agency said today, citing officials.