Turkey News
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Updated 2 hours, 36 minutes ago
The leader of Lebanon’s militant Hezbollah movement warned of instability in the country if “foreign extremist” groups control areas in Syria along its border.
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Most emerging stocks fell, capping a second weekly drop, as a slump in commodities sank producers from OAO Gazprom to Vale SA. Hungary’s benchmark index jumped to a three-month high as the nation published its budget plans.
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A dispute over whether to include Iran in proposed negotiations to end the fighting in Syria is complicating the effort by the U.S. and allies to present a unified front against President Bashar al-Assad’s regime.
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Otokar Otomotiv ve Savunma Sanayi AS, a Turkish producer of civilian and military vehicles, rose to a record after Hurriyet Daily News reported the company could sell tanks to Saudi Arabia.
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Turkish opposition lawmakers said the government was advancing an Islamist agenda after a law was passed banning all alcohol advertising together with night-time alcohol sales at stores. Local businesses and foreign investors expressed concern.
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Turkey’s parliament approved a law banning retail alcohol sales at night and promotion of alcoholic drinks as opposition lawmakers accused Prime Minister Recep Tayyip Erdogan of pushing an Islamist agenda.
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Japanese Prime Minister Shinzo Abe’s ruling Liberal Democratic Party is changing its strategy for rewriting the country’s pacifist constitution ahead of parliamentary elections in July, a party executive said.
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Emerging-market stocks tumbled the most in 10 months, led by Russian and South African shares, as exporters slumped after weaker China manufacturing data bolstered concern the global economy is faltering.
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It’s been a challenging year for emerging markets. The hugely popular Vanguard FTSE Emerging Markets ETF (VWO) is down about 1 percent so far in 2013; the iShares MSCI Emerging Markets Index (EEM) has fallen 2.1 percent. Bucking the trend is the PowerShares DWA Emerging Markets Technical Leaders Portfolio (PIE). That ETF is up 14.6 percent during the same period. How is that possible?
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The rand’s drop in the past two weeks, the world’s steepest after Syria’s pound, is foiling prospects for an interest-rate cut by South Africa’s central bank amid mounting concern inflation will accelerate.
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