Turkish economy keeps receiving praises from the world. Dutch Prime Minister Mark Rutte has recently commented that Turkey is Holland's largest trading and investment partner. Rutte is reported to have said; "Turkish economy has grown rapidly in the past decade and we envy this growth". Rutte spoke at a meeting attended by Dutch and Turkish executives and said said that they had held talks in Ankara and Ist ...

Long awaited good news came yesterday when financial accreditation agency Fitch upgraded Turkey's economic outlook from BB+ to BBB-. Turkish business environment had been long expecting Fitch to make this announcement as Turkey is now in a much better economic situation as compared to earlier and in spite of the negative global conditions prevailing in the world. This new position says that Turkey is a suit ...

Consumer Price Index October 2012 Monthly change in CPI was realised by 1,96%. A rise in general index was realised in the 2003 based Consumer Price Index on the previous month by 1,96%, on December of the previous year by 5,36%, on same month of the previous year by 7,80%, on the twelve months moving averages basis by 9,53% in October 2012. The highest monthly increase was 6,81% in the index for clothing a ...

It has been reported that 12 leading local banks are under investigation for having fixed interest rates and may have to pay a substantial amount of  monetary fine for it. The report says it has been concluded by the  Turkey’s Competition Board that 12 banks in the country agreed to determine interest rates. If this possibility comes to realize upon completion of investigation, said banks may have to face a ...

Istanbul Autoshow has opened its doors to the automobile enthusiasts for the 14th time in 2012 with the slogan "Show Your Power". The event is accepted to be one of the most significant milestones in the development of Turkish automotive industry Top model cars are exhibited at the show organized in Istanbul and there is a great demand of visitors for the Fair. It is reported that the visitors have an oppor ...

Turkish Prime Minister Recep Tayyip Erdoğan said that during his last visit to Germany, Chancellor Merkel has made a business offer about Turkish Airlines. At an AK Party meeting marking the 10-year anniversary today, Turkish Prime Minister Recep Tayyip Erdoğan said that German Chancellor Angela Merkel offered him to establish joint management for Germany's national air carrier Lufthansa and Turkish nationa ...

Turkish Central Bank Governor Erdem Başçı said with the reforms applied, Turkey's financial structure has become more resilient to external shocks. Başçı added that global economic crisis and the European debt crisis have had less impact on Turkey, thanks to steps taken to enhance the financial stability of the country. Attending the International Economy Conference held in Turkish coastal city Izmir in the ...

Turkish Energy and Natural Resources Minister Taner Yıldız has made a statement on Turkish import of Iranian natural gas. Mr. Yildiz also warned companies currently conducting petroleum exploration activitiesin the Sothern Cyprus. Yıldız said, "Within the framework of our existing contracts, neither we have been demanded nor we have thought to lower the volume of natural gas that Turkey imports from Iran wh ...

According to the provisional data, produced with the cooperation of Turkish Statistical Institute and Ministry of Customs and Trade, in September 2012; exports increased by 21% and reached to 13 013 Million Dollars while imports decreased by 6,4% and reached to 19 838 Million Dollars compared with September 2011. In the same month, foreign trade deficit decreased from 10 453 Million Dollars to 6 825 Million ...

The main 100 index of the Istanbul Stock Exchange (İMKB) hit a historic high yesterday at 71.717 points, surpassing the Nov. 9, 2010 record, after a two-week long climb unaffected by a nearly one-week-long public holiday. A relatively positive report by international credit agency Moody's yesterday triggered the nearly 1.5 percent climb from Oct. 25, the day the bourse was closed before the Eid al-Adha, or ...

It is known that the giant city of Istanbul has two airports, namely Atatürk Airport on the European side and Sabiha Gökçen AP on the Asian side. The huge traffic the megapole has been receiving recently has shown the capacity is not going to be sufficient soon. The government has been long drawing attention to this saying a third airport is on the way. Withing in this framework, the Metropolitan Municipali ...

Although Turkey has been the new star in the world of Tourism and it shown a perfomance to threaten the leading position of Greece and Spain in Europe some it has been reported that 3rd quarter tourism figures were not very promising for the country. Turkish Statistics Institute has reported  as follows; Tourism Statistics, Ouarter 3 - 2012 In the third quarter of 2012 (July, August and September) Turkey’s ...

Turkey which is among the countries with fastest developing economies still has major problems such as unemployment rate, corruption and foreign trade deficit. This situation however does not encourage the administration on the way to reaching its target to rank third best economy in Europe sooner than expected. Turkish government headed by powerful PM Erdoğan is doing its best to bring solutions to said is ...

Turkish Government has released Medium Term Economic Programme setting out projections for 2013-2015. Following Turkey’s economic slowdown and anticipated soft landing, the programme lowers growth predictions for 2012 to 3.2% and acknowledges that inflation targets (of 5.3%) are not likely to be met, raising them to 7.4%. Down below are some valuable indications  observed by the British Consulate General Is ...

Borusan EnBW Enerji has broken ground for the Balabanli Wind Power Plant in Turkey’s northwestern province of Tekirdag. The plant’s 22 turbines will generate 50 megawatts of power once it joins the energy-hungry country’s national grid by 2013. The ceremony marking the commencement of the construction took place in Istanbul with the attendance of the executives of Borusan and EnBW, and Turkey’s Minister of ...

The inflation forecast for the remaining portion of the current year was revealed at a press meeting held by chief Erdem Başçı. It is now public that CBRT has revised its year end target due to several factors very influential on the findings. The report revealed that consumer prices had gone up by 1.03 percent in September and inflation had climbed to 9.19 percent. The report added this had been due to the ...

Turkey imports 60 percent of its energy… On the other hand it has 70 percent of the world's boron reserves as well as major solar potential, and continues to increase the number of projects involving boron and solar power daily. Within this framework, Turkey has promoted a car which operates on solar power and boron by test driving it.. There is a strong possibility we could see vehicles operating on boron ...

Down below are the economic indicators of Turkey, reported as of October 2012. This data is compiled from various sources such as reputable banks - and originally from figures announced by TURKSTAT (Turkish Statistical Institute) and Central Bank. Turkish economy in spite of the stagnancy in the major world markets has managed to avoid a likely crisis (as with Greece and Spain) so far. The government (altho ...

When the world is in search of new energy resources, Turkey is about to add another investment in the automotive world. This country has been spending much effort to produce the raw material sodium borohydride used in electric vehicle fuel cells. It is now reported that Turkey will soon be capable of producing the sodium borohydride used for fuel cells in electric vehicles with a new investment by the Bandı ...

Foreign banks which prefer to enter the stable  Turkish market keep coming one after the after. Thanks to the strong financial administration of the current government and the strict monetary policies of Central Bank of Turkey, this country is considered to be very favorable for foreign funds looking for fertile markets. Among these newcomers, we can now see ODEABANK, originally a Lebanon based establishmen ...

In spite of all the worries about if a new economic crisis would hit Turkey, Istanbul Stock Exchange keeps staying at the peak Experts say this is mainly due to the policies of Central Bank of Turkey and the interest rates practiced. In fact, an inflow of $3.9 billion in foreign investment has reached the Istanbul Stock Exchange (İMKB) in the first nine months of 2012 and this positive trend is expected to ...

Turkey, in spite of all the discouraging developments in the global financial markets has been swimming in safe waters. Accordingly, Central bank of Turkey continues to use its authority to regulate the economy. The authority decided to pull down the overnight interest rate in its October meeting. Following the decision to narrow the interest rate corridor, the overnight borrowing interest rate was decrease ...

Alamos Gold Inc. which is a Canadian gold mining company will invest USD 1 billion in Turkey. Alamos Gold Inc. is a publicly traded company on the Toronto Stock Exchange under the symbol “AGI” with operations in México and Turkey. In January 2010, the Company acquired two advanced-stage gold development projects in northwestern Turkey. The 7,657-hectare Ağı Dağı and Kirazlı gold projects contain established ...