ISTANBUL: Turkey's exports reached a record $15.1 billion in March, economy minister Nihat Zeybekci said on Sunday during a televised interview on private broadcaster CNNTurk.
"We reached the highest number in our history in exports, $15.1 billion," Zeybekci said.
The Turkish Exporters' Assembly (TIM) also said in a statement on Sunday that the country's exports rose 11.5 percent year-on-year in March to exceed $15 billion for the first time.
It said exports in the last 12 months had risen 10.5 percent to around $160 billion.
Data from Turkey's official statistics institute on Friday showed exports stood at $13.18 billion in February. They also showed Turkey's trade deficit had widened 54.2 percent year-on-year to $5.76 billion.
TIM President Mehmet Buyukeksi said the assembly was aiming for exports to exceed $170 billion at the end of the year.
Zeybekci also said he expected tourism revenues to reach $51-52 billion in 2018 from around $26 billion in 2017.
Tourism, a major source of funding to plug Turkey's persistent current account deficit, is recovering from a sharp downturn caused by bomb attacks, diplomatic disputes and a failed coup.
Foreign arrivals surged over 27 percent in 2017 to 32.4 million, largely boosted by Russian tourists after Turkey patched up a rift with Moscow, concerns over security eased and the sector offered discounts to attract customers.
Turkey’s exports hit record $15.1 bln in March: Economy minister
Turkey’s exports hit record $15.1 bln in March: Economy minister
Closing Bell: Saudi equities continue 4-day upward trend
RIYADH: Saudi equities closed higher on Wednesday, with the Tadawul All Share Index rising 51.52 points, or 0.47 percent, to finish at 10,945.15.
Trading activity was robust, with 373.9 million shares exchanged and total turnover reaching SR6.81 billion.
The MT30 Index also ended the session in positive territory, advancing 11.93 points, or 0.82 percent, to 1,472.82, while the Nomu Parallel Market Index declined 116.82 points, or 0.49 percent, to 23,551.47, reflecting continued volatility in the parallel market.
The main market saw 90 gainers against 171 decliners, indicating selective buying.
On the upside, Al Kathiri Holding Co. led gainers, closing at SR2.18, up SR0.12, or 5.83 percent. Wafrah for Industry and Development Co. advanced to SR23, gaining SR0.99, or 4.5 percent, while Al Ramz Real Estate Co. rose 4.35 percent to close at SR60.
SABIC Agri-Nutrients Co. added 4.21 percent to SR118.70, and Al Jouf Agricultural Development Co. climbed 4.12 percent to SR45.
Meanwhile, losses were led by Saudi Industrial Export Co., which fell 9.73 percent to SR2.69. United Cooperative Assurance Co. declined 5.08 percent to SR3.74, while Thimar Development Holding Co. dropped 4.54 percent to SR35.30.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. retreated 4.15 percent to SR48.50, and Gulf Union Alahlia Cooperative Insurance Co. slipped 3.96 percent to SR10.44.
On the announcement front, Saudi National Bank announced its intention to issue US dollar-denominated Additional Tier 1 capital notes under its existing international capital programe, with the final size and terms to be determined subject to market conditions and regulatory approvals.
The planned issuance aims to strengthen Tier 1 capital and support the bank’s broader financial and strategic objectives.
The stock closed at SR42.70, gaining SR0.70, or 1.67 percent, reflecting positive investor reaction to the capital management move.
Separately, Almasane Alkobra Mining Co. said its board approved the establishment of a wholly owned simplified joint stock company to provide drilling, exploration and related support services, with a share capital of SR100 million and headquarters in Najran, subject to regulatory approvals.
The new subsidiary aligns with the company’s strategy to enhance operational efficiency and expand its role in the Kingdom’s mining sector.
Shares of Almasane Alkobra Mining closed at SR98.70, up SR0.30, or 0.3 percent, by the end of the session.
