Word: banking
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...been a subscriber to TIME for about 50 years, but I don't think I have ever been as disappointed in a story as I was with "A Mother's Story." It's clear whom you will endorse for the White House. Stephen Bank, MORRISVILLE...
...mutual funds have so far embraced terror-free investing. But as it expands, this device will let anyone evaluate his own mutual funds. Parametric, another big asset manager, last month produced a terror-free screen of stocks that is available through intermediaries including Smith Barney, Merrill Lynch and Bank of America. Credit Suisse has also released a new terror-free product...
...when the Justice and Development Party (AKP) was elected in 2002. The AKP is moderately Islamist, but its economics have turned out to be decidedly liberal. The party has nurtured economic reforms that have tamed inflation, stabilized a jittery currency and entrenched the independence of the country's central bank. Privatization of state-owned properties continues to attract outside investors. Turkey's application to join the E.U. is stalled on objections by France and Germany, among others. But the process of meeting reform benchmarks for membership eligibility has already paid off nicely. Whether or not Turkey joins...
...Turkey's credit rating to negative from stable, citing a fraught political and global environment. "The Turkish economy is in a major transformation with high efficiency gains, whose impact will be even more evident in the next decade," asserts Suzan Sabanci, chairwoman of Akbank, Turkey's largest privately owned bank, and a scion of one of Turkey's wealthiest families. "Global events will have an influence on the Turkish economy," she notes. "But I do not expect them to be dramatic...
That shock proved to be a wake-up call. Turkey was compelled, as a result, to accept World Bank and International Monetary Fund prescriptions, including fiscal discipline and regulatory changes, that have since paid off handsomely, triggering five years of more than 6% annual growth, single-digit inflation and rising incomes...