Turkey PM unveils new cabinet, finance minister remains

Turkey's Prime Minister Tayyip Erdogan announced his new cabinet on Wednesday, retaining Mehmet Simsek as Finance Minister and appointing Zafer Caglayan as new economy minister.

As expected, Ahmet Davutoglu stays as Foreign Minister, while Egemen Bagis, Turkey's chief negotiator for EU membership, was named to head the newly created European Union ministry. (Reuters)