The usual practice for many developing countries – Turkey to be in the first row – has been struggling to improve commercial relations with developed countries of the western World such as Germany, England, Italy, France (EU countries) and the USA etc… Whereas in the end developing countries (sounds more decent than underdeveloped) have most often found that time has worked against them and they have given ...

When Turkey hit the road and knocked on the door of the EU decades ago, to eventually become a full member, the economic picture of the country was almost hopeless. The reason was there was so much Turkey had to do in order to reach the level of economic and cultural welfare required for accession at the time, that the mission almost seemed to be impossible. However during the last decade in particular and ...

It was announced by Deputy Prime Minister Ali Babacan that Moody’s had upgraded Turkey’s credit rating to investment grade, yesterday. First comments came from Ali Babacan and Economy Minister Zafer Çağlayan who expressed this move was long due. Turkey raised hopes again to attract more foreign funds when Moody's raised Turkey's long-term credit rating by one notch to "Baa3," the bottom of investment grade ...

Prime Minister ERDOGAN flew to the USA on Wedenesday 15th May, to meet with President OBAMA and conduct talks with other officials. Erdogan has taken some top important files with him to discuss with Obama such as; The situation in Syria, prospects of an international intervention, trade agreement signed between the United States and the European Union and the negative burden it will bring to Turkey as well ...

IRN, the global summit organiser has announced that the Iraq Infrastructure & Construction Summit is due to take place in Dubai on May 22-23. This exclusive senior level meeting is supported by the ‘Ministry of Construction and Housing, Iraq’, Ministry of Municipalities’, ‘Reconstruction & Development Bureau, Iraq’, ‘Baghdad Provincial Council’, ‘UK Trade & Investment’, ‘British Water’, ‘Deputy ...

Turkish Statistical Institute has published a report to cover unemployment in Turkey. The report goes as follows; Number of unemployed persons increased by 226 thousand persons in the period of January 2013 (1) and has reached to 2 million 890 thousand persons in Turkey. Unemployment rate realized as 10.6% with 0.4 percentage points increase. Non-agricultural unemployment rate was realized as 12.9% with 0.5 ...

In w/c April 8th, while investors made profit in the stock market, dollar and commodities lost value. The profit Borsa Istanbul (Bist) provided for its investors stood at an average of 3,06 percent. The selling price of 24-carat gold bullion fell down to 88.50 pounds showing a decrease of 2,43 percent. Following the announcement of Credit rating agency Moody’s last week, which said the process of solving th ...

On his visit to Kyrgyzstan PM Erdoğan said Turkey had turned into a  safe haven thanks to economic success achieved through appropriate fiscal policies and structural reforms implemented in the last 10 years. Prime Minister who held meetings the Kyrgyz President Almazbek Atambayev and Prime Minister Jantoro Satybaldiev in Bishkek, also attended the second meeting of the Turkey-Kyrgyzstan High Level Strategi ...

Industrial Turnover Index in February 2013 increased by 4.9% compared with the same month in previous year. In the sub sectors level of industry, mining and quarrying index decreased by 4.2%, manufacturing index increased by 5.3% in February 2013 compared with same month of the previous year. Industrial Turnover Index and the Rate of Change (2010=100), February 2013 According to Main Industrial Groupings (M ...

Turkish Statistical Institute (TUIK) has revealed Foreign Trade figures for February 2013. The overall import unit value indices increased by 1.2% in February 2013 as compared to the corresponding month of the preceding year, calculated according to the provisional foreign trade data with 2010 as base year. In the same month, compared to February 2012, while the export unit value index for food, beverages a ...

Credit rating agency Moody's has made a declaration saying “the settlement process for Turkey's Kurdish issue is a positive development for the country's credit rating”. Moody's, which currently rates Turkey at Ba1 with a positive outlook, said the government's agreement to form a parliamentary investigative commission to evaluate the process was a "visible and credit-positive step" in its progress toward e ...

After the opening ceremony honored by PM Erdoğan today, BORSA ISTANBUL A.Ş. (BIAS) - the sole exchange entity of Turkey- statrted to operate. The Bourse was operating under the name Istanbul Stock Exchange earlier, on a much smaller scale. PM Erdoğan has submitted a speech emphasizing the importance of this move as far as the economy of Turkey is concerned. Erdoğan said BORSA ISTANBUL was expected to reinfo ...

Consumer Price Index, March 2013 Monthly change in Consumer Price Index (CPI) was realised by 0.66% A rise in general index was realised in CPI (2003=100 based) on the previous month by 0.66%, on December of the previous year by 2.63%, on same month of the previous year by 7.29%, on the twelve months moving averages basis by 8.08% in March 2013. The highest monthly increase was 2.04% in food and non-alcohol ...

Data pertaining to foreign trade performance of Turkey were released by Turkish Statistical Institute as below; Exports increased by 5.8% in February According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in February 2013; exports increased by 5.8% and reached to 12 435 Million Dollars and imports increased by 9% and reach ...

The efforts Turkey has been spending to make Istanbul a finance hub has obviously started to pay of as this city has been receiving huge demand from foreign banking institutions seeking to secure a place in the Istanbul Finance Center (IFC). It is reported that “Ministry of Environment and Urbanization” has been busy lately dealing with renewed interest from such foreign finance institutions especially afte ...

Turkey has received long awaited good news from Standard & Poor's that has raised the country’s credit rating from BB to BB+. Standard Poor said in its statement that Turkey was in the process of rebalancing its economy and the floating rate policy, the prudential limit on foreign loans and the deepening of the local capital market induced higher resistance to potential capital flows. The agency also re ...

The Turkish retail sector, which recorded $302 billion in 2011, is expected to reach $421 billion in 2015. Internet retail portals are becoming a new favorite among Turkish internet users and shoppers, according to a Deloitte Turkey report. Turkey’s retail sector, which exceeded $302 billion in 2011, is expected to reach $421 billion in 2015, according to the “Retail Sector Analysis” report published yester ...

The prime minister has made some top important statements regarding the tender for privatization of Turkey’s roads and bridges a short while ago. In an interview on a prominent TV channel on February 1st Mr. Tayyip Erdoğan who obviously sounded unhappy with the result of the tender said; "We will review the privatization offers, for example for the highways or bridges. We have much bigger expectations" refe ...

It was announced by Turkish Statistics Institute on Monday February 4th that the monthly change in Consumer Price Index (CPI) had occurred as 1.65%, in January 2013. A rise of 1.65 percent was recorded in CPI (2003=100 based) as compared to the previous month, in January 2013 against a market expectation of about 1.1 percent. This increase is calculated to be 8.62 percent based on 12 months moving averages. ...

The statistical data regarding exports and imports for December 2012 was released by the Turkish Statistical Institute on 31st January 2013. Based on said report exports increased by 1.4 % to reach 12 646 Million Dollars and imports decreased by 3.7 % go down to reached to 19 825 Million Dollars as compared to December 2011. In the same month, foreign trade deficit decreased from 8 116 Million Dollars to 7 ...

ISE (Istanbul Stock Exchange) which displayed a brilliant performance in 2012 and continued likewise in the first 3 weeks of January 2013 was hit badly by unfavorable remarks from international credit rating establishment Moody’s. ISE started with a rise of 30 points to 81,196 early on Monday where banking stocks enjoyed an increase of 0,04 percent. However following statements by Moody’s indicating Turkey ...

Turkey was disappointed when international credit rating agency Moody's said on Monday 28th January that it would consider raising Turkey to investment grade if the country improved its resilience to external shocks. The agency made a statement which went "Moody's would consider upgrading Turkey's rating, if the government made further progress in lowering its external vulnerabilities by structurally reduci ...

It is reported that  Moody's (International credit rating institution) has revealed that a change in Turkey's rating was not in question. Turkey’s rating stands at Ba1, at present and many sources expect that the country will be rewarded by another rating increase from concerned agencies. On the other hand it was also revealed by Moody’s that it would hold a teleconference regarding Turkish economy on Janua ...