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FDI in Turkey Declines by 8 Percent

The first Turkish high-speed train arrives at Pendik railway station, in Istanbul, during the high-speed train opening ceremony on July 25, 2014 (AFP Photo/Ozan Kose)
The first Turkish high-speed train arrives at Pendik railway station, in Istanbul, during the high-speed train opening ceremony on July 25, 2014 (AFP Photo/Ozan Kose)
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FDI in Turkey Declines by 8 Percent

The first Turkish high-speed train arrives at Pendik railway station, in Istanbul, during the high-speed train opening ceremony on July 25, 2014 (AFP Photo/Ozan Kose)
The first Turkish high-speed train arrives at Pendik railway station, in Istanbul, during the high-speed train opening ceremony on July 25, 2014 (AFP Photo/Ozan Kose)

Foreign investment in Turkey decreased by 8 percent in the first half of 2017 compared with the same period of 2016, Economy Ministry data showed.

According to the ministry, Turkey received over $4.9 billion in net foreign direct investment (FDI) during the January-June period this year.

In the first half of the year, 2,429 new companies funded by international capital were established in Turkey while 93 domestic firms received capital from foreign participants from the wholesale, retail trade, property renting and construction sectors.

As of June, some 40 percent of the nearly 55,639 companies that benefited from foreign funds or participation were linked to European Union states.

According to the same data, direct investment from EU countries to Turkey rose by 61 percent year-on-year in the first half of 2017.

Investment from the 28 EU states reached $2.72 billion between January and June, up from $1.69 billion over the same period last year, making up two-thirds of all foreign investment over the first six months of 2017.

The Netherlands topped EU countries in the rate of investments carried out in Turkey.

While investment inflow from the Netherlands increased 104 percent from $403 million to $821 million during this period, investment from Germany decreased by 6 percent from $181 million to $170 million.

In the first half of this year, investment inflow from Asian countries also increased significantly. In the January-June period, investment inflow from Asian countries rose by 138 percent to $1.1 billion from $481 million in the same period last year. Investment inflow from Gulf countries, on the other hand, amounted to $561 million, an increase of 322 percent in the same period.

Meanwhile, The Turkish Statistical Institute (TÜİK) has said that Iraqis topped the list of property sales to foreigners in Turkey with 293 properties, followed by Saudis with 248 units and Kuwaitis with 142.

Russian nationals came fourth in the list with 118 units and Britons with 76.

Property sales to foreigners in Turkey soared 65.3 percent in July compared to the same period in 2016, TÜİK said.

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Hormuz LNG Traffic Hits Highest in October since Iran War Began

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, November 9, 2026. REUTERS/Stringer
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, November 9, 2026. REUTERS/Stringer
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Hormuz LNG Traffic Hits Highest in October since Iran War Began

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, November 9, 2026. REUTERS/Stringer
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, November 9, 2026. REUTERS/Stringer

The monthly ‌tally of laden liquefied natural gas (LNG) tankers exiting the Strait of Hormuz reached its highest in October since the US-Iran conflict disrupted shipping this year, vessel tracking data showed.

-Last month, 31 LNG tankers went through the key waterway, according to data from S&P Global Energy, of which 23 were loaded at Ras Laffan in Qatar and eight at Das Island in ‌the United Arab Emirates.

-October exports were the highest ‌since ⁠February when the war ⁠started and were up from September's corresponding tally of 23 vessels exiting the strait, the data showed.

-"We are looking at UAE back to pre-war transit levels and Qatar at over 30% of pre-war Hormuz transits," said Eric ⁠Yep, a senior principal analyst at S&P ‌Global Energy.

-Kpler's ‌shiptracking data showed 42 LNG cargoes were loaded in ‌October, up from 27 in September.

-The ‌changes come as Ras Laffan's October loadings reached 35 cargoes, surpassing 2.7 million tons, the highest since the war started, according to Kpler data. Qatar exported ‌nearly 6.2 million tons in February.

-Two of the vessels carrying LNG ⁠from ⁠Ras Laffan that exited the strait subsequently conducted ship-to-ship (STS) transfers off the coast of Oman's Sohar anchorage, Kpler data showed. The SC Prestige transferred LNG to the BW ENN Crystal Sky, which is now bound for South Korea.

-The Al Mafyar moved its LNG to Shandong Redwood and Ejnan, both of which delivered the cargoes to Pakistan.

-Das Island exports held steady at seven loadings in October, flat with September, Kpler data showed.

Business

Gold Prices Ease as Focus Shifts to US Inflation Data

The People's Bank of China's gold holdings increased by 830,000 ounces in October (Reuters)
The People's Bank of China's gold holdings increased by 830,000 ounces in October (Reuters)
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Gold Prices Ease as Focus Shifts to US Inflation Data

The People's Bank of China's gold holdings increased by 830,000 ounces in October (Reuters)
The People's Bank of China's gold holdings increased by 830,000 ounces in October (Reuters)

Gold prices eased on Tuesday as investors locked in profits after bullion's more than 1% rally in the previous session and awaited US inflation data for clues on the Federal Reserve's policy path.

Spot gold was down 0.4% at $4,124.42 per ounce, as of 0618 GMT. US gold futures for December delivery rose 0.5% to $4,133.00.

"It's just ‌a bit of ‌churn in the market. Prices are ‌easing back ⁠from the highs ⁠reached during the US session, which could be attributed to profit-taking," said Kyle Rodda, senior financial market analyst at Capital.com.

"If we continue to see a situation where the US does not want to escalate the conflict in the Middle East and oil prices are reversing as a result, that'd be very ⁠beneficial for gold because of its impact on ‌the dollar, inflation and interest ‌rate expectations," Rodda said.

US President Donald Trump said on Monday he plans ‌to hold off on new military strikes against Iran for ‌the time being after appeals from countries in the region, including from Qatar's prime minister in White House talks. Oil prices fell on Tuesday, extending losses from the previous day, Reuters said.

Meanwhile, the US central bank ‌should move its monetary policy "with care" as it maps a response to inflation that remains its ⁠greatest risk, ⁠Richmond Federal Reserve President Tom Barkin said on Monday, adding he had no base case for what should be done at the December meeting.

Traders currently see an 84% chance that the US Fed will raise rates in December, according to CME's FedWatch tool.

Higher interest rates increase the opportunity cost of holding non-yielding bullion, reducing its appeal.

Investors now await the consumer price index report, due later in the day, followed by the producer price index data on Friday.

Among other metals, spot silver slid 0.3% to $53.22 per ounce, platinum steadied at $1,577.57 and palladium dropped 0.2% to $1,039.16.

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Oil Falls as Trump Downplays Prospect of Escalation with Iran

Oil prices are set for a sharp weekly decline amid expectations of a de-escalation in the Iran war following election losses suffered by Trump's party (Reuters).
Oil prices are set for a sharp weekly decline amid expectations of a de-escalation in the Iran war following election losses suffered by Trump's party (Reuters).
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Oil Falls as Trump Downplays Prospect of Escalation with Iran

Oil prices are set for a sharp weekly decline amid expectations of a de-escalation in the Iran war following election losses suffered by Trump's party (Reuters).
Oil prices are set for a sharp weekly decline amid expectations of a de-escalation in the Iran war following election losses suffered by Trump's party (Reuters).

Oil prices fell on Tuesday, adding to the previous day's losses after US President Donald Trump downplayed the need for military action against Iran "at this point", easing fears of sustained supply disruptions in the Middle East.

Brent crude futures declined 70 cents, or 0.75%, to $91.88 a barrel by 0246 GMT, while US West Texas Intermediate (WTI) futures fell 78 cents, or 0.90%, to $86.07 a barrel. Both benchmarks had fallen 1% earlier in the session.

Brent settled down 5.85% in the previous session after sliding to its lowest since ‌August 31.

Trump said ‌on Monday he plans to hold off ‌on ⁠new military strikes against ⁠Iran for the time being after appeals from countries in the region, including from Qatar's prime minister in White House talks.

Trump, in a Reuters interview and a later appearance in the White House press briefing room, said he plans to keep up a naval blockade in the Strait of Hormuz for now.

"The market continues to prioritize President Trump's ⁠more conciliatory tone toward Iran since the midterms," ‌said Tim Waterer, chief market analyst at ‌KCM Trade.

"While attacks on shipping around the Strait of Hormuz are still occurring, ‌they have not escalated in a way that has forced a ‌fresh risk premium into the market," he said.

On the supply side, OPEC oil output rose in October, a Reuters survey found, led by gains in Saudi Arabia, Kuwait and Iraq despite continued constraints on exports.

Brent has retreated ‌about 22% from the six-month high of $118 it touched on October 30 as fears that ⁠Trump might step ⁠up attacks on Iran following the US midterms have eased, however there is still concern shipping could be disrupted.

"Despite the recent selloff, prices are unlikely to fall below $90 per barrel for Brent without more durable signs of de-escalation and a US-Iran deal," Gregory Brew, a senior analyst with Eurasia Group said in a note.

"At the same time, risks to shipping remain high, as Iran continues to attack vessels transiting the Strait of Hormuz," Brew said.

Elsewhere, Russian and Ukrainian officials planned to meet on Tuesday for two days of US-brokered talks — their first since February — after Trump suggested last week that a broad peace deal was possible in their 4-1/2-year-old war and could incorporate Europe's security.