* Istanbul aims to be top-10 financial hub * Equity market has not kept pace with economic growth * Retail investors hit by higher fees * Government needs to encourage savings, IPOs By Birsen Altayli ISTANBUL, April 12 (Reuters) – Turkish President Tayyip Erdogan dreams of transforming Istanbul into a financial hub that can rival Dubai or Singapore, but first he needs to win over would-be investors like Ali Bahcuvan. “I’d rather stay away from the stock market these days,” said the 41-year-old internet entrepreneur. It also raises questions about the viability of the government’s drive to make Istanbul a global top-10 financial hub. Years of solid growth have turned Turkey into a major emerging economy, but its equity market has not kept up.
SOURCE: Stock Markets News Headlines – Yahoo! News – Read entire story here.
