Turkey: December unemployment rate

Turkey: December unemployment rate

Temporary rise in the unemployment rate

In December, seasonally adjusted unemployment rate increased 0.1pp to 9.6%, and non-farm unemployment rate increased 0.2pp to 11.8%, on our calculations. The employment and participation rates remained strong at 46.0% and 50.9% respectively, only a tad below the record high levels of 46.1% and 51.0% in November.

Turkey: Strong increase in fiscal revenues and spending in February

Turkey: Strong increase in fiscal revenues and spending in February

Central government primary balance was TRY 3.5bn in February, significantly lower compared to the surplus of TRY 6.0bn in February 2012. The deterioration in the fiscal balance came despite stronger budget revenues, which increased 18% y/y. On the other hand, non-interest expenditures rose much faster by 34% y/y. The additional spending in February stems from payments to contractors and transfers to social security institution.

Housing Recovery 'Fundamentally Strong': Lennar CEO

Housing Recovery 'Fundamentally Strong': Lennar CEO

Published: Friday, 15 Mar 2013 | 11:26 AM ET
By: Diana Olick
CNBC Real Estate Reporter

Despite being headquartered in one of the states hardest hit by the housing crash, the CEO of Miami-based Lennar Homes said he is bullish both on the rental side of the business and the single family side. No wonder, Lennar recently announced it was getting into multi-family apartment construction.

http://www.cnbc.com/id/100558148

How Are the SBA’s Loan Programs Doing?

How Are the SBA’s Loan Programs Doing?
By Karen E. Klein
March 14, 2013

Question: I read your 2011 article about U.S. Small Business Administration loans and wondered what is going on with the SBA loan program for 2013? Are there any new loan programs this year?

http://www.businessweek.com/articles/2013-03-14/how-are-the-sbas-loan-programs-doing

Shale Oil: A Deep Dive Into Implications for the Global Economy and Commodity Investors

Viewpoints
March 2013

Shale Oil: A Deep Dive Into Implications for the Global Economy and Commodity Investors
Greg E. Sharenow, Mihir P. Worah

• The shale oil revolution in the U.S. is a classic example of high prices and improving technology spurring methods of commodity production that may have been historically unimaginable.

• Although growth in U.S. shale production has not yet been sufficient to meaningfully weaken oil prices, it has had a notable impact on long-term price expectations, on both the upside and downside.

• After acting as a significant brake on economic activity during the run-up in prices during the last decade, greater energy availability will at the very least be a positive for global growth.

http://www.pimco.com/EN/Insights/Pages/Shale-Oil-A-Deep-Dive-Into-Implications-for-the-Global-Economy-and-Commodity-Investors.aspx

When Will the US Energy Boom Help You Out at the Gas Pump?

When Will the US Energy Boom Help You Out at the Gas Pump?

Published: Thursday, 14 Mar 2013 | 2:39 PM ET
By: Javier E. David
Special to CNBC.com

First, the good news: the U.S. energy sector is being modernized at a breakneck pace, with cleaner and cheaper fuels predicted to drive down prices and to eventually reduce the economy's dependency on foreign oil.

http://www.cnbc.com/id/100554510

An Energy Coup for Japan: ‘Flammable Ice’

An Energy Coup for Japan: ‘Flammable Ice’

Published: Wednesday, 13 Mar 2013 | 8:43 AM ET
By: Hiroko Tabuchi

TOKYO — Japan said Tuesday that it had extracted gas from offshore deposits of methane hydrate — sometimes called "flammable ice" — a breakthrough that officials and experts said could be a step toward tapping a promising but still little-understood energy source.

The gas, whose extraction from the undersea hydrate reservoir was thought to be a world first, could provide an alternative source of energy to known oil and gas reserves. That could be crucial especially for Japan, which is the world's biggest importer of liquefied natural gas and is engaged in a public debate about whether to resume the country's heavy reliance on nuclear power.

http://www.cnbc.com/id/100545740

KKR Said to Debut Real Estate Fund With $500 Million

KKR Said to Debut Real Estate Fund With $500 Million
By Devin Banerjee & Sabrina Willmer - Mar 13, 2013

KKR & Co. (KKR), the buyout firm run by Henry Kravis and George Roberts, is preparing to market its first fund dedicated to real estate investments with an initial $500 million committed to the pool, according to two people with knowledge of the matter.

http://www.bloomberg.com/news/2013-03-12/kkr-said-to-debut-real-estate-fund-with-500-million.html

How the US Can Start Exporting Energy: Chevron CEO

How the US Can Start Exporting Energy: Chevron CEO

Published: Tuesday, 12 Mar 2013 | 5:30 PM ET
By: Justin Menza

Chevron will be making major investments to increase its oil and gas production this year, but only a fraction of those investments will be made in the U.S., CEO John Watson told CNBC's "Closing Bell" on Tuesday.

http://www.cnbc.com/id/100547355

'Dr. Copper' Has Raised Doubts About Recovery

'Dr. Copper' Has Raised Doubts About Recovery

Published: Tuesday, 12 Mar 2013 | 1:24 PM ET
By: Jeff Cox
CNBC.com Senior Writer

Both the stock market rally and economic recovery are missing what historically has been a key element - a house call from "Dr. Copper."

http://www.cnbc.com/id/100546529