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Anadolu Agency: News in English, 01-02-28

Anadolu Agency: News in English Directory - Previous Article - Next Article

From: The Anadolu Agency Home Page at <http://www.anadoluajansi.com.tr/>

Anadolu Agency

ANADOLU AGENCY

NEWS

28 FEBRUARY

2001 Wednesday


CONTENTS

  • [01] TURKEY-PRESS SCAN

  • [01] TURKEY-PRESS SCAN

    These are some of the major headlines and their brief stories in Turkey's press on February 28, 2000. The Anadolu Agency does not verify these stories and does not vouch for their accuracy.

    HURRIYET (LIBERAL)

    VERHEUGEN, EU COMMISSIONER FOR ENLARGEMENT, SAYS RECENT
    ECONOMIC CRISIS WON'T AFFECT MEMBERSHIP OF TURKEY
    Guenther Verheugen, the European Union (EU) Commissioner for enlargement, said the recent economic crisis would not effect the full membership process of Turkey, adding that this would not negatively affect the relations between Turkey and the EU. In his meeting with Ismail Cem, the Foreign Minister, Verheugen said there could be fluctuations in the liberal economy, adding that the candidacy of Turkey to the EU would be a guarantee for the foreigners who wanted to make investments in Turkey.

    TURKISH PEOPLE TRUST ARMED FORCES THE MOST
    A survey carried out by a foundation showed that the Armed Forces ranked the first among the institutions that the Turkish people trusted the most. AKUT, the rescue team which saved many people's lives in the devastating earthquakes in 1999, ranked the second in this category. The survey showed that the Turkish people don't trust in the politicians and the political parties. Political parties ranked last among the institutions that Turkish people trust. According to the survey, inflation is the biggest problem of Turkey and unemployment is the other issue that needed to be solved.

    MILLIYET (LIBERAL)

    POVERTY EXPERT TO COME TO TURKEY
    Kemal Dervis, the man who developed the programs of the World Bank on poverty, was invited to Turkey by the government. Dervis who is expected to come to Turkey tomorrow told Milliyet reporter that the inflation rate should be under ten percent for a fair income distribution in Turkey. Noting that he closely followed the recent economic developments in Turkey, Dervis said the new economic program should bring a relief to those who have lower incomes. Sources said Dervis could become either the governor of the Central Bank or the minister of state responsible for economic affairs.

    INTERNATIONAL SUPPORT FOR TURKEY
    The International Monetary Fund (IMF) will seek international support for Turkey to conduct the new economic program. The IMF is planning to set up an international consortium which will include 25 international banks. Such a consortium was previously set up during the crisis in South Korea and South Korea was granted 35 billion U.S. dollars of loan within the framework of the support. Sources say loan which will be provided from this consortium will decrease internal debts and balance the deficit in the banking system.

    SABAH (LIBERAL)

    KEMAL DERVIS COMING
    Kemal Dervis, the Deputy Central Bank Governor, will probably become the new Central Bank Governor. Dervis, who was called from the U.S., is expected to arrive in Ankara on Thursday.

    COTTARELLI GIVES IN
    Carlo Cottarelli, the International Monetary Fund's (IMF) Turkey Desk Chief, is the third person affected by the economic crisis following Central Bank Governor Gazi Ercel and Treasury Undersecretary Selcuk Demiralp. Sources said that Cottarelli will notify the IMF adminstration that he has decided to quit the mission. If the IMF approves this, Cottarelli will pay his last visit to Ankara after March 15 and will leave after he prepares the new program.

    CUMHURIYET (LEFT)

    TURKS PUFF 1.6 QUADRILLION TL INTO AIR LAST YEAR
    Association Against Alcoholic Drinks (Yesilay) Chairman Selahaddin Kaptanagasi said that Turks consumed 129 million 128,000 kilos of tobacco worth of 1.6 quadrillion TL last year. ''In 1930s one person consumed only ten packs of cigarettes and one liter of alcoholic drink in Turkey in one year,'' he said. ''Today the cigarette consumption is ten times higher while consumption of alcoholic drinks rose 17 times. The reasons for the increase is the bear and wine companies which were set up in Turkey after 1960s with foreign capital and their advertising campaigns. TEKEL also started a competition with them which encouraged the consumption of these products.''

    YILMAZ GIVES SIGNS OF CABINET RESHUFFLE
    Deputy Prime Minister Mesut Yilmaz has said that Turkey became a country suffering from ''chronic crises'' adding that the last crisis caused people to lose their confidence in the state. He indicated that the stability program was still valid although they, as the government, had to make certain changes in the economic targets. Yilmaz implied a cabinet reshuffle by saying ''we should continue to walk on our way with a different team and different methods.''

    RADIKAL (LEFT)

    CEM-POWELL MEETING
    Foreign Minister Ismail Cem met with U.S. State Secretary Colin Powell. Cem referred to the embargo imposed on Iraq during the meeting. Powell, who thought that the issue was worth discussing, said that they are beside Turkey against the economic crisis.

    LIVES OF 389 PATIENTS IN SSK HOSPITAL WERE UNDER THREAT
    Lives of 389 patients who were under treatment in the Social Security Agency (SSK) Hospital in northern Samsun province were under threat when a fire broke out in the hospital due to a cigarette butt. The fire which started at the hospital on Tuesday afternoon, caused panic among the patients. The patients were transfered to other hospitals.

    TURKIYE (RIGHT)

    25 BILLION U.S. DOLLAR DUE IN TURKEY
    If the guarantee of the International Monetary Fund (IMF), the World Bank and Treasury Undersecretariat is ensured, Turkey will be extended long-term 25 billion U.S. dollar loan for the banking sector by the support of the G- 7 countries, particullarly by the U.S. and Japanese treasuries.

    NO RESIGNATION
    Devlet Bahceli, the Deputy Prime Minister and the leader of the Nationalist Movement Party (MHP), said that resignation or early elections are not solution for Turkey. Bahceli said, ''economy is strong enough to heal its wounds.''

    SYRIA EXPECTS RAPPROACHMENT FROM TURKEY
    Syrian Vice President Abdel-Halim Khaddam said that his country attributes special importance to relations with Turkey. The Turkish delegation including the members of Anadolu Agency (A.A), and Turkish Radio and Television corporation (TRT) headed by Aydın Sezgin, the Director General of Press and Information, was received by Syrian Vice President Khaddam. Khaddam said he hoped the visit of the Turkish delegation would create an opportunity for them to know Syria better and to see that Syrian government and people are ready to improve relations with Turkey.

    ZAMAN (CONSERVATIVE)

    CEM MEETS POWELL IN BRUSSELS
    Foreign Minister Ismail Cem had a meeting with U.S. Secretary of State Colin Powell during a NATO meeting in Brussels. During the meeting, Cem conveyed Turkey's views on Iraq, Cyprus and European Security and Defense Initiative (ESDI). Cem said the United States should not discriminate among its allies regarding the ESDI.

    TANTAN SAYS MEDIA IS NOT INNOCENT
    Interior Minister Saadettin Tantan has claimed that the media grew from corruption economy. ''As long as we have people's support, noone could block our efforts to fight against corruption,'' Tantan asserted. ''When we look at the world, we see that the media becomes strong and dominant on all sectors when corruption economy increases. Today's lay-offs in the media is also a result of this corruption.''

    -ULUSAL BANK INC. RANKS 31ST IN LIST OF ASSETS
    ISTANBUL - The Ulusal Bank Inc. which was transfered to the Savings Deposit Insurance Fund early on Wednesday, ranked the 31st in the list of assets of the banks dated September 30, 2000 with 527 trillion 758 billion Turkish liras (TL).

    The Ulusal Bank was operating as a foreign bank established in Turkey.

    In accordance with the data of the Turkish Banks Union, the Ephesus Ltd., Halit Cingillioglu, Huseyin Arif Bilgen, Saban Yem and Zuhal Sari are among the main partners of the bank which was established in 1985.

    The total credits of the banks were 25 trillion 281 billion TL, its total deposit was 187 trillion 342 billion TL, its total capital resources were 54 trillion 44 billion TL while its net loss was 11 trillion 277 billion TL.

    The bank had five branches and 231 personnel by the end of 1999.

    The Demirbank, the former executive director of which was Halit Cingillioglu, was transfered to the Savings Deposit Insurance Fund on December 6, 2000.

    Thus, Cingillioglu lost his second bank as the Ulusal Bank was transfered to the Fund.

    -TRANSFER OF ULUSAL BANK TO SAVINGS DEPOSIT INSURANCE FUND
    -BBDK SAYS ACCOUNT HOLDERS HAVE NOTHING TO WORRY ABOUT
    ANKARA - Banking Regulatory and Supervision Board (BRSB) said on Wednesday that the account holders of the Ulusal Bank, had nothing to worry about.

    Releasing a written statement, the BRSB said Ulusal Bank was transferred to the Savings Deposit Insurance Fund as its losses exceeded its own funds, and couldn't manage to fulfil its financial obligations.

    The statement added that the financial system would be endangered if the bank continued its transactions.

    Every liability of Ulusal Bank would be carried out under the ownership of the Fund, said the statement and added that the local and foreign account holders and the creditors who made transactions through this bank had nothing to worry about.

    -ULUSAL BANK HAS ITS ROOTS IN SAUDI AMERICAN BANK
    ISTANBUL- The Ulusal Bank Inc. which was transfered to the Savings Deposit Insurance Fund early on Wednesday, had its roots in the Saudi American Bank.

    Halit Cingillioglu, the former owner of the Demirbank which had also been transfered to the Fund, bought the Saudi American Bank Inc. in February 1997 and thus, the bank started to operate as the Ulusal Bank Inc.

    The Ulusal Bank, which targets at leadership in individual banking, has three partnerships, including Ulusal Yatirim (investment), Ulusal Leasing, and Ulusal Factoring.

    The Ulusal Leasing and Ulusal Factoring provide finance opportunities to their clients for investments while the Ulusal Yatirim offers investment possibilities to individual and institutional clients which cover the stocks, A and B type funds.

    The Ulusal Bank have a central branch and branches in Ankara, Izmir, Tuzla Free Zone and Gunesli and Harbiye districts of Istanbul.

    Meannwhile, the number of banks transferred to the Savings Deposit Insurance Fund reached 12.

    Bank Ekspres, Interbank, Turkbank, Egebank, Egebank, Sumerbank, Yasarbank, Yurtbank, Demirbank, Eskisehir Bankasi, Etibank and Bank Kapital had earlier been transferred to the Fund.

    Egebank, Yasarbank, Yurtbank and Bank Kapital were united under the title of Sumerbank.

    -EXCHANGE RATES IN COVERED BAZAAR IN ISTANBUL
    ISTANBUL- One U.S. dollar was sold at 960 thousand Turkish liras (TL) among the citizens in the Covered Bazaar in Istanbul on Wednesday morning.

    One German mark was sold at 460 thousand TL.

    The purchase price of one U.S. dollar is 900 thousand TL, while the purchase price of one German mark is 400 thousand TL.

    -ECONOMIST UCER SAYS TURKEY SHOULD TAKE BRAZIL AS EXAMPLE
    WASHINGTON- Economist Murat Ucer has said that Turkey should take Brazil as example which experienced similar economic troubles, at a meeting organized recently by Business Forum institution in Washington, D.C.

    Ucer, manager of Istanbul Analytics, an international financial counseling company, said that the cause of last week's financial crisis was not the row between the president and the prime minister as many people believed. He said lack of confidence for the system among people was the real cause of the crisis. He added that the fluctuations in the markets last November made it difficult for people to have faith in the IMF-backed disinflation program.

    Brazil managed to pull itself out of a similar crisis by IMF support in January, 1999, he pointed out. ''Brazil's money unit was also floated, so there was a big increase first. But this didn't cause high price increases so the inflation was kept under control. After the Asian crisis, the IMF is also more experienced on this matter. Turkey should continue working with IMF.''

    Ucer indicated that the IMF-backed disinflation program should be revised and a new Letter of Intent should be prepared in the nine-day long Feast of Sacrifice.

    The government must form a powerful team which will only work on the economic program in order to regain people's confidence, he concluded.

    -TEN PERCENT RISE IN PETROL PRICES
    ANKARA- The petrol prices were increased ten percent on Wednesday.

    Officials said that one liter of unleaded petrol will be sold at 671 thousand 100 Turkish liras (TL) in Ankara, at 671 thousand 500 TL in the Anatolian side of Istanbul and 671 thousand 700 TL in the European side of Istanbul.

    Below listed the former and new petrol prices in Ankara and Istanbul:

    . Unleaded Super Normal

    . Former New Former New Former New

    --------------- ------- ------ ------ ------- ------ --------
    ISTANBUL
    -Anatolian side 609,100 671,500 610,200 671,500 499,661 644,100

    -European side 610,300 672,700 611,300 672,600 585,700 645,200

    ANKARA 608,700 671,100 609,800 671,200 584,200 643,700
    . Kerosene Diesel oil Fuel oil

    . Former New Former New Former New

    ----------- ------ ----- ----- ----- ------ ----
    ISTANBUL
    -Anatolian side 471,000 518,600 452,100 497,800 230,900 254,000

    -European side 472,000 519,800 453,300 499,100 229,000 252,100

    ANKARA 478,300 528,400 458,400 506,400 236,600 262,900
    . Fuel Oil 6

    . Former New

    --------------- ------- -----
    ISTANBUL
    -Anatolian side 150,700 165,800

    -European side 148,800 164,000

    ANKARA 146,800 161,900
    -TOTAL OF 1.3 MILLION BARRELS OF CRUDE OIL PRODUCED IN SOUTHEAST
    GAZIANTEP- One million 389 thousand 863 barrels of crude oil were produced from the wells in and around southeastern Adiyaman province in the first two months of 2001.

    The Turkish Petroleum Corp. (TPAO) struck 90 percent of the crude oil while the rest of the oil was struck by private companies.

    Officials told A.A correspondent that 47.5 percent of Turkey's crude oil was produced from 163 wells in 18 regions in Adiyaman, Sanliurfa and Kilis by striking 23,557 barrels of high-gravity oil a day.

    -EXCHANGE RATES
    ISTANBUL/ANKARA - Below listed the buying and selling prices of U.S. dollar, German mark and British sterling in Istanbul and Ankara as of 10.00 a.m. on Wednesday:

    ISTANBUL FREE MARKET BUYING SELLING
    ----------------------- ------- ------
    U.S. dollar 900,000 950,000

    German mark 410,000 460,000

    British sterling 1,155,000 1,395,000

    ANKARA FREE MARKET

    U.S. dollar 860,000 940,000

    German mark 400,000 450,000

    British sterling 1,195,000 1,450.000

    -TEN PERCENT RISE IN PETROL PRICES (2)
    ANKARA - One liter of unleaded petrol will be sold at 607 thousand 500 Turkish liras (TL) in Aegean Izmir province as of Wednesday.

    Below listed the former and new petrol prices in Izmir:


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