UPDATE 1-Turkey's Akbank H1 net profit soars 35 pct

(Reuters) - Akbank, part-owned by Citigroup , turned a net profit
of 1.2 billion lira , it said in a statement.




Total loans grew 17.4 percent from the end of last year to
35.6 billion lira, with consumer loan growth of 19 percent.


Read more at Reuters.com Market News

GLOBAL MARKETS-Dollar slides, stocks pressured on credit worries

(Reuters) - Turkish markets were a bright spot, however, after elections
on Sunday in which the pro-business AK Party secured a decisive
victory. The lira and Turkish bonds rallied and Turkey's main
share index rose 2.7 percent.




Concerns about problems in the U.S. subprime -- or risky --
mortgage sector continue to swirl around markets. U.S. Federal
Reserve Chairman Ben Bernanke said last week that losses could
hit $100 billion and hit consumer spending.


Read more at Reuters.com Bonds News

Turkish Lira, Stocks Climb After Erdogan's Justice Party Wins Re-Election

(Bloomberg) -- Turkish stocks, bonds and the lira
gained after voters re-elected Prime Minister Recep Tayyip
Erdogan, giving him a mandate to extend policies that won European
Union membership talks and helped bring 21 quarters of growth.

The ISE National 100 Index rose 3.8 percent to 54,966.6 as of
9:56 a.m. The lira rose 1.58 percent, trading at 1.253 to the
dollar. Yields on lira-denominated bonds fell 27 basis points to
17.19 percent, their lowest in 13 months, according to ABN Amro
benchmark prices. A basis point is 0.01 percentage point.


Read more at Bloomberg Currencies News

UPDATE 1-Turkish Dogan TV in deal with Time Warner

(Reuters) - Its stock rose 2.6 percent to 5.85 lira, outperforming a
flat Istanbul market , after a trading suspension was
lifted following the news.




Dogan Yayin said in a statement to the stock market Dogan
TV, 25 percent of which was sold to German publisher Axel
Springer last year, had reached a deal with Time
Warner Inc., but gave no details.


Read more at Reuters.com Mergers News

Hungarian Forint Gains Versus Euro as Investors Buy Emerging-Market Assets

(Bloomberg) -- The Hungarian forint rose against the
euro on speculation rising global interest rates will encourage
investors to pickup yields by buying emerging-market assets.

The forint is the second-best performing currency in Europe
today after the Turkish lira. Hungary's benchmark interest rate
of 8 percent is the highest in the European Union.


Read more at Bloomberg Emerging Markets News

Hungarian Forint Gains as Investors Buy Emerging-Market Assets for Yield

(Bloomberg) -- The Hungarian forint rose against the
euro on speculation rising global interest rates will encourage
investors to pickup yields by buying emerging-market assets.

The forint is the second-best performing currency in Europe
today after the Turkish lira. Hungary's benchmark interest rate
of 8 percent is the highest in the European Union.


Read more at Bloomberg Currencies News