Financial and Banking News
BUDGETS AND REVENUES
Gulf States to Provide Turkey with $2.5bn for Defense Industry
Turkey is to receive $1bn each from Kuwait and Saudi Arabia, plus $500mn fromthe UAE, for a defence fund designed to refurbish Turkey's armed forces and toexpand its weapons industry. Turkey and the US will contribute a further $500mneach to the fund, according to Turkish Defense Ministry officials in Ankara.
News of the deal emerged during a tour of the...
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