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    GOOD MORNING--TURKEY PRESS SCAN ON OCT 4

    Anatolian Agency
    04.10.2008 - 11:16 | Son Güncelleme: 04.10.2008 - 13:17

    These are some of the major headlines and their summaries in the Turkish press on October 4, 2008. Hurriyet English does not verify these stories and does not vouch for their accuracy. (UPDATED)

    HURRIYET
    --PRESIDENT GUL TO TRAVEL TO CERN
    Turkish President Abdullah Gul will pay a visit to European Organization for Nuclear Research, CERN, where the experiment of Large Hadron Collider (LHC) was made. Gul will also address at a meeting of the International Relations Institute organized in Evian city of France on Sunday before visiting CERN.

    --SMILING ATATURK IN TURKISH LIRA
    Turkish banknotes, which be in use as of Jan. 1, 2009 will have Ataturk portraits on one side. The Turkish banknotes, which are currently in use, can be used till January 2010.

    --GREAT EXCITEMENT OF KOKSAL TOPTAN
    Parliament Speaker Koksal Toptan closely follows an important project in the past one year.  Toptan is getting ready to host parliament speakers of the world in 2010 in Turkey on the ruins of the first elected parliament of the world in Patara.

    MILLIYET
    --FINALLY, ECONOMIC CRISIS ON AGENDA
    PM Tayyip Erdogan said they did not want to see a weakness due to ATM cards, checks, credit cards, or consumer loans and noted they were planning to take the necessary precautions. Erdogan said they were in constant contact with the Banks Union, Bank Regulation and Supervision Agency (BDDK) and international markets. Erdogan pointed out that all foreign banks in Turkey were monitored by BBDK, including Dexia and Fortis and urged all depositors to be calm.

    Erdogan said unlike the present crisis there were credit risks in Turkey during the 2001 economic crisis amounting to 30-35 percent noting that at present the banks were determined and cautious. He said "of course we will not be overcome by languor, but we didn't have any problems so far."

    --TURKISH LIRA TO BE REINTRODUCED AFTER FOUR YEARS
    Turkey's official currency will be "Turkish Lira" once again on Jan. 1 2009, after a four year break. Three different portraits of Ataturk will be printed on the front side of the banknotes, while the backsides will have portraits of different figures.

    SABAH
    --HERE IS THE NEW TURKSH BANKNOTE
    There are the pictures of historical people like Yunus Emre and Itri on the Turkish banknotes that would be in use as of Jan.1. Motives like the Kardelen flower and Bosporus Strait were used on the coins. There is a smiling photograph of Mustafa Kemal Ataturk, the founder of the modern Turkish Republic, on the banknotes. The YTL will be removed from use at the end of 2009.

    --WE ARE RESISTANT TO GLOBAL CRISIS
    Prime Minister Tayyip Erdogan, while commenting on the global crisis, said all Turkish institutions were closely monitoring the developments. Erdogan said, "The necessary measures are taken without any hesitation and we will be the country that is affected the least from the crisis."

    VATAN
    --CRISIS DESK TO BE ESTABLISHED
    The government has decided to establish a "follow-up commission", including three ministers, to overcome the gradually deepening global crisis with the least damage. State Minister for Economy Nazim Ekren will chair the commission which will also include State Minister for Treasury Mehmet Simsel and Finance Minister Kemal Unakitan.

    --IZNIK TILE AT PUBLIC SALE
    Christie's Auction House will put up a collection, comprising of Indian and Islam works of art, to auction on Oct. 7. An Iznik tile of the Ottoman Period is the most striking piece of the collection. The tile, delineating the Kaaba and surroundings, is expected to sell for 250,000 pounds.

    CUMHURIYET
    --ERDOGAN PUTS A BRAVE FACE ON THINGS
    The Justice and Development Party (AKP) Administration maintains its relaxed attitude against the economic crisis that troubles the U.S. and Europe. PM Tayyip Erdogan said the banking system and the economic structure were firm. "We are closely watching the developments. For now, there is no danger for our country," said Erdogan. Commenting on the issue, Prof. Korkut Boratav said the AKP had no measures to take in the face of the growing financial crisis, with its current financial approach. "It is too late to take any measures," said Boratav.

    --NATIONAL STOCK EXCHANGE INDEX DROPS
    Stocks lost 4.16 percent in value at the Istanbul Stock Exchange(IMKB) which was focused on the voting on U.S. govenrment's 700 billion USD bail out plan at the U.S. house of representatives. IMKB National 100 Index rose by 732.1 points in the afternoon session and closed at 34,533 points.

    RADIKAL
    --NATIONAL STOCK EXHANGE CRASHES, U.S. DOLLAR ON THE RISE
    Due to concerns about the bail out plan of the U.S. treasury, and American economy, Istanbul Stock Exchange (IMKB) National 100 Index dropped by 4.16 percent and closed at 34,553 points. The U.S. dollar rose to 1,3035 YTL and the benchmark interest rate to 20 percent.

    The trading volume was very low at IMKB where the index was down by 1498 points. Analysts said foreign investors sold the stocks they held. Bankers said foreign investors bought large sums of U.S. dollars, while local investors mostly sold the dollar reserves they held. The dollar closed the day at a value of 1.305 YTL.

    --PM ERDOGAN: WARNS AGAINST CREDIT CARDS
    PM Tayyip Erdogan said Turkey would emerge from the global financial turbulence with the least negative effects, noting that they were working on precautions regarding credit cards, checks, and consumer loans.

    YENI SAFAK
    --ERDOGAN: GOVERNMENT CLOSELY MONITORS BANKS
    Prime Minister Tayyip Erdogan said Banking Regulatory and Supervision Agency (BDDK) was closely following the banks, "Both Fortis and Deixa are under serious inspection of the BDDK. I don't think there will be any problem."

    --INFLATION FIGURES FOR SEPTEMBER GIVES HOPE
    Turkish Board of Statistics (TUIK) announced on Friday that consumer prices index (TUFE) increased 0.45 percent in September, 2008. Also producer prices index (UFE) dropped 0.90 percent in the same month, added TUIK. The annual inflation rate as of September was 11.13 percent in TUFE, and 12.49 percent in UFE. Experts said the figures were positive, and noted that it could be possible to achieve single digit inflation figures by the end of the year.

     

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