Turkey takes third place amongst a list of Halal friendly destinations. Arab tourists selected Istanbul, Bursa, Konya and Sinop at the top of the list. In addition to Europe's tourism categories such as 'family friendly' or 'environmentally friendly', a category for Middle Eastern and Gulf nations entitled 'halal friendly' has now been added to desirable destination lists. Not only has Turkey experienced al ...

Private equity firm Carlyle Group said on Wednesday it had acquired a 48 percent stake in Turkish private education provider Bahçeşehir Koleji. Carlyle did not disclose details of the transaction. Existing shareholders, the Yücel and Karataş groups, will remain significant investors in Bahçeşehir, Carlyle said in a statement. Bahçeşehir Koleji, which was established in 1994, is active in nursery, primary an ...

Turkey enjoys positive economical indicators achieved in 2011 showing its unavoidable rise to become the shining star of Europe (and the world) by 2023. In fact, the government officials have announced that the export target for 2012 is forecasted as US$ 149 billion with an increase of approximately 10 percent as compared to US$ 132 billion in 2011. When we look at the economies in Europe particularly, we c ...

After the Arab Spring, Turkish firms are taking on a leading role in the region’s new restructuring. While businessmen traffic with North Africa increases, Western firms have been pushed to the background. Interest is increasing in Turkish firms for the newly restructuring of countries which experienced the Arab Spring. With forums and meetings held one after the other, Turkish firms are participating much ...

Currency wars are spreading throughout the region as Turkey’s Central Bank intervened for a fourthday in the currency markets yesterday amid similar moves by Iran and news that the Hungarian Forintplummeted to a new low. Turkey’s Central Bank continued its direct intervention on the currency market for a fourth trading day in a row yesterday, in addition to a $100 million sale in a daily auction. According ...

Turkish lender Halkbank , little known outside Turkey, has gained a reputation in the oil market over the past 18 months for handling transactions that other banks fear to touch - trade deals with Iran.  Now a new law signed by President Barack Obama last Saturday, which imposes US sanctions on financial institutions dealing with Iran's central bank, has put the bank squarely in the spotlight. Halkbank's st ...

The Cittaslow movement is spreading around the world. As Seferihisar, Akyaka, Gökçeada, Taraklı and Yenipazar become official members, Turkey becomes another of the growing number of countries identifying with concepts of slow tourism and trade aiming improve quality of life for everyone and open new dimensions within people’s lives Turkey’s Seferihisar, Akyaka, Taraklı, Gökçeada and Yenipazar are now parts ...

Turkey's export industry set a record-breaking, 18.2 percent rise between December 2010 and December 2011 to reach $134.6 billion, Economy Minister Zafer Caglayan said yesterday. "First, these exports figures have broken a [republican] record. Second, Turkey has surpassed its $132 billion export record in 2008, taking it back to pre-crisis levels," Caglayan said at a Turkish Exporters' Assembly (TIM) meetin ...

Turkey’s Central Bank intervened again in currency markets in the year’s first trading day, directly selling as much as $650 million to limit the lira’s depreciation. However, the greenback was largely unfazed The Turkish Central Bank, which employs a much-debated strategy of low interest rates, has surprised the markets on the first trading day of 2012, intervening massively in the currency markets. The in ...

Simsek: Turkey is able to have soft landing even if stiff breezes blow from Europe While worldwide efforts to deal with the stress of expected economic crisis are underway, Turkey is confident with its strong economy. Finance Minister Mehmet Simsek stated that global economic crisis might affect Turkey, but that it had a strong economy to face with it. "The stiff breezes blowing from Europe might affect Tur ...

Science, Industry and Technology Minister Nihat Ergun announced a Research and Development Package aimed at decreasing current deficit and increasing domestic production which was finalized at the 23rd meeting of Supreme Council for Science and Technology, chaired by Prime Minister Recep Tayyip Erdogan on Tuesday. The package, consisting of eight arrangements and projects, will be put into practice at the b ...

Just before we are about to finish a year full of problems and major challenges for the world, Turkey seems to have performed well up to expectations and is able to look at the coming year (2012) with much more self-confidence. In fact, it has been among few countries with top GPD growth in 2011 on top of its success in handling major political issues on the int'l arena. In the meantime, Central Bank govern ...

Mr. Erdem BAŞÇI has made a presentation about open market operations the bank is to conduct in 2012. In said presentation the governor has also outlined many important principles as to the planned operation of the bank in 2012. Accordingly, in addition to the daily one-week repo auctions, the Central Bank of the Republic of Turkey (CBRT) will start holding one-month (4 weeks) repo auctions every Friday. The ...

Turkish Central Bank Gov Erdem Başçı pledges a stronger year in terms of stability and predictability, but cannot avoid speaking of increasing global concerns and volatilities. Başçı also says he is against relocating the headquarters of the Central Bank to Istanbul Big uncertainties will mark the global economy in the new year, according to Central Bank Gov. Erdem Başçı, who said Turkey’s monetary policy w ...

A more flexible monetary policy is very likely to continue in 2012, but the Turkish Central Bank will be more inclined to focus on boosting liquidity, especially with measures on the Lira side, says a high level banking analyst. Many economists believe 2012 will be divided into two periods. In the first half of they year, they expect high inflation. In the second half of 2012, however, they expect the Centr ...

Following the levying of a recent private consumption tax (ÖTV) on designated products, the government has announced a new series of tax hikes, this time encompassing the motor vehicle tax (MTV) and communication and property taxes.Today's Zaman had earlier cited economy experts who indicated that the government was expected to introduce a number of new hikes in indirect taxes -- or taxes that are not direc ...

The Turkish Central Bank could withdraw its nearly 23 billion euros of reserves from France after the EU member’s recent move to fine any denial of an Armenian ‘genocide’ in 1915, economists tell the Daily News. However, such a sharp move could risk Turkey’s EU bid, they add. Turkey’s Central Bank might shift nearly 30 billion Turkish Liras of investment in French bonds to other European powerhouses as part ...

You are a foreigner (a business person) visiting Istanbul on a business trip.. You have the weekend off before (or after) a meeting and would like to make the best out of it.. But, Istanbul is such a giant and complicated city you need to have advice what to do, where to go etc.. Well here we are to guide you - besides many other sources on the net, certainly .. First, it would be best to have a quick look ...

Turkey hopes to tame its chronic current account deficit (CAD) problem by attracting sizable Saudi investments in key industries that contribute most to the widening CAD, Economy Minister Zafer Caglayan has said, while the government eyes a bigger slice in huge multi-billion dollar Saudi infrastructure and construction projects. "We are looking for Saudi experience and investment in refining, petrochemical ...

It is reported that the number of foreign tourists visiting ISTANBUL has gone up by 16 percent in the first 11 months of this year. Istanbul one of the most mysterious and multicultured megapoles in the world has become more and more popular in the recent years in parallel to the increasing role Turkey plays in the world political arena, on top of the fact millions are now interested in discovering places o ...

Turkey, Azerbaijan sign gas pipeline deal Turkey's Energy Minister Taner Yıldız signed an agreement in Ankara today with his Azerbaijani counterpart Natig Aliyev for the construction of a natural gas pipeline. The deal on Trans-Anatolian Natural Gas Pipeline envisages sale of  Azerbaijani natural gas in Turkey as well as in Europe via Turkey. Azerbaijani SOCAR, Turkish Petroleum Pipeline Corp. (BOTAŞ) and T ...

Foreigners will be able to purchase land up to 30 hectares in Turkey. Speaking after the conference on Competitiveness in a Low Carbon Economy: Prospects for 2012 and Beyond which was organized by the Turkish Industrialists' and Businessmen's Association (TUSIAD) yesterday, Environment and Urbanization Minister Erdogan Bayraktar said that the reciprocity bill paving the way for property sales to foreigners ...

INDUSTRIAL PRODUCTION In September, industrial production increased well above expectations. According to Turkstat, in September industrial production increased by 12% compared to the same month of the previous year, well above expectations. This rapid increase could be attributable to the convergence of  the  economic activity which lost momentum in previous month due to Ramadan  back  to its trend. In Sep ...