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Bush issues veiled warning to Turkey

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BusinessPresident George W. Bush said the United States had contingency plans in place if Turkish Parliament insists on not allowing in U.S. combat troops to open a northern front against Iraq, in a veiled warning to Turkey that it might end up with missing its chance to have a say in the future of Iraq and lose a multi-billion dollar aid package to protect its economy from negative impacts of a war.
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Turkey May Again Decide on U.S. Troops

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ISTANBUL, Turkey (AP)--Turkey\'s top politician signaled Tuesday the government may again ask parliament in the coming days to allow 62,000 American troops in Turkey, hoping to reverse a weekend denial that upset U.S. war plans.
Parliament on Saturday rejected a government motion authorizing the troop deployment, unsettling Washington\'s plans to open a northern front against Iraq. The ruling Justice and Development Party currently is debating whether to resubmit the resolution for a second vote.
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Turkey\'s Stock Market Plunges After Its Parliament Rejects U.S. Troop Deployment

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BusinessFears that Turkey could lose out on a multibillion dollar aid package after its parliament refused to allow in some 60,000 U.S. troops caused its markets to plunge in early trading Monday.
Turkey\'s stock exchange dropped by 11.3 percent within the first minutes of opening and its currency, the lira, dipped by about 5 percent to 1,670,000 to the dollar, traders said.
The government on Saturday failed to gather enough support among its ruling party lawmakers for parliament to authorize the deployment of more than 60,000 U.S. troops ahead of a possible Iraqi war. Parliament\'s decision stunned Washington and seriously jeopardizes U.S. planning for a northern front against Iraq, a crucial part of the American war strategy.
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Market Insight: War jitters weigh on Turkey

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BusinessTurkey\'s stock market dipped on Thursday amid uncertainty over whether the country would secure a big US war compensation package seen as vital for investor confidence.


After parliament on Thursday postponed a vote allowing the deployment of 62,000 US troops for the opening of a second front against Iraq until Saturday, the Istanbul stock exchange ISE National-100 index ended 1.7 per cent higher at 11,486.83. Amid lower bond yields and a stronger currency, the stock market had earlier risen almost 2 per cent on expectations that a vote would be held on Thursday.
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US textile firms fear Bush aid package for Turkey

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BusinessWASHINGTON (Reuters) - A proposed U.S. aid package for Turkey has reignited the domestic textile industry\'s fear that it could become a casualty of U.S. war on terrorism, an industry official said on Monday.
Robert DuPree, vice president for government relations at the American Textile Manufacturers Institute, said the Bush administration appears to be looking at textile trade benefits as part of its economic aid package for the potential war ally.
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Turkish family accused of $4.7bn fraud by telecoms

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BusinessAfter more than a year of pre-trial manoeuvring, an effort by two of the world\'s largest phone equipment companies, Motorola and Nokia, to paint themselves as victims of a huge fraud by a secretive Turkish family is scheduled to go to trial this week in a federal court in New York. The two phone giants are trying to recover as much as possible of the $US2.8 billion ($4.7 billion) they lent Telsim, a Turkish cellular start-up controlled by the Uzan family, to buy equipment and enter the fast-growing Turkish market. The battle is being waged on multiple fronts, including courts in Britain and Turkey, and in Washington, where Motorola has sought the support of the Bush administration. On Thursday, armed with a British court order, Motorola seized one of the Uzans\' private jets when it landed in Germany.
Meanwhile, Motorola and several of its top executives are facing a growing number of shareholder lawsuits complaining that the company inflated its stock price in 2000 and 2001 by announcing the sale of more than $US1.5 billion in equipment to Telsim without disclosing that it had provided even more than that in loans to finance the sales.
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Deutsche Post acquires firms in Chile, Turkey

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BusinessFRANKFURT, Feb 16 (Reuters) - Deutsche Post AG DPWGn.DE said on Sunday it had strengthened its logistics business in Chile and Turkey through two acquisitions.
The German postal, logistics, express and banking group said in a statement it had acquired the Santiago-based Commercial Safeway SA and Berben Express Nakliyat, a leading Turkish logistics firm.
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Turkey budget surplus target achievable-IMF

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BusinessWASHINGTON, Feb 13 (Reuters) - The International Monetary Fund said on Thursday it was confident Turkey would meet its primary budget surplus target in 2003.
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Annan To Pay Visits To Turkey, Greece And Cyprus

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BusinessNEW YORK - United Nations Secretary General Kofi Annan will pay visits to Cyprus, Turkey and Greece in the last week of February.

Annan\'s Spokesman Fred Eckhard said on Thursday that Annan would pay a visit to the region in the last week of February to make a contribution to efforts of the sides to reach an agreement till the end of the month.
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Deusche Post\'s Swiss Unit Buys Turkey\'s Berben Ekspress

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BusinessBASEL (Dow Jones)--Switzerland-based Danzas, the logistics unit of Germany\'s Deutsche Post AG (G.DPW), said Thursday that it has bought Turkey\'s logistics provider Berben Ekspress Nakliyat for an undisclosed sum.
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