Turkish police on Friday detained 21 people in Istanbul in an operation against the Islamic militant group al Qaeda, state Anatolian news agency said.
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At his second plea hearing before his trial for charges of war crimes and crimes against humanity in the 1992-95 Bosnian war, Karadzic refused to enter pleas for all of the charges against him.
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Russia's energy minister and a top oil company denied on Friday they were preparing to cut oil flows to Europe in response to threatened sanctions, a step Moscow never took even at the height of the Cold War.
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A gunpowder factory in the central Turkish province of Kırıkkale was rocked by an explosion that triggered a fire on Friday, a private television reported.
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In the face of a global economic recession initiated by a crisis in the US subprime mortgage market, Turkey, an increasingly profitable market for foreign banks, has become one of the fastest growing countries in the banking industry.
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Defaulting on credit card payments in Turkey is on the rise due to high interest rates and the lack of awareness among card holders on how to properly manage their card spending.
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Parallel to the growth in the Islamic finance industry worldwide, Turkish participation banks, formerly called special finance houses, have also been expanding and attracting new customers, with Bank Asya having emerged as a leader in the sector.
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How is it possible for Turkish banks to be posting profits while many foreign banks, including US financial institutions, are busy writing off bad loans and credits? The success of Turkish banks in the midst of the worldwide credit crunch certainly calls for further analysis. Today's Business recently spoke with veteran banker Zafer Kurtul, who has been entrusted with the helm of Akbank, the second-largest private bank in Turkey.
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Türkiye Finans, one of the leading participation banks in Turkey, has signed an agreement with Western Union, the international money transfer company, in which Türkiye Finans will be tapping into Western Union's network infrastructure while the latter expands into the Turkish market and strengthens its foothold in the wire transfer market.
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Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported. The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said.
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