Turkey, Russia to establish joint investment fund: Anadolu Agency
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
Turkey's Economy Minister Nihat Zeybekci speaks during an interview with Reuters in Ankara, Turkey, June 7, 2016. REUTERS/Umit Bektas
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
ISTANBUL (Reuters) - Turkey and Russia will establish a joint investment fund with capital of $1 billion, Turkish Economy Minister Nihat Zeybekci was reported as saying by state-run Anadolu Agency.
Relations between Russia and Turkey soured in November 2015, after the downing of a Russian fighter jet by the Turkish military.
They have since have made progress towards restoring ties, with Turkish President Tayyip Erdogan and Russian President Vladimir Putin holding talks. The two leaders were due to meet again on Monday in Istanbul at World Energy Congress meeting.
Zeybekci made the announcement at a ceremony to sign a joint declaration on establishing the fund after meeting Russian Economic Development Minister Alexei Ulyulkayev in Istanbul on Sunday, Anadolu said.
Zeybekci was reported as saying Turkish and Russian investment funds would both provide $500 million each for the establishment of the fund and its capital could be increased beyond $1 billion if needed.
(Writing by Daren Butler; Editing by Nick Tattersall)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump calls corporate tax border adjustment 'too complicated': WSJ
- Council of Europe calls on Slovenia to reject some amendments on migrants
- Britain will not seek 'half in, half out' EU deal: PM May
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!