Turkish deputy PM chides US on its monetary policy Deputy PM Ali Babacan calls on the US to make its moves more clear, telling that the world’s largest economy does not hold a luxury to say it does not know what to do next The US has no luxury to say ‘what next?’ over monetary policy, Babacan says. The world’s largest economy, the United States, does not have the luxury of not revealing future monetary move ...

Istanbul is kicking off the third Istanbul Finance Summit (IFS), which will take place today and tomorrow at the Ceylan InterContinental Hotel. The summit is expected to focus on Istanbul’s aspirations to become a global financial center. Deputy Prime Minister Ali Babacan is expected to launch the IFS, which will host important participants including finance experts from both Turkey and abroad, managers of ...

Out of the total 30,507 firms operating in Turkey with international capital over half are based in Istanbul. There is at least one foreign-partnered firm for every 243 employees in the mega metropolis. According to calculations based on data from the Ministry of Economy on direct international investments, as of July, 2012, there were 30,507 firms with international capital in Turkey. Istanbul is at the to ...

Speaking at the "High Growth Markets Summit" which was organized by the Economist in London, Turkish Deputy Prime Minister Ali Babacan said yesterday that possibility of a break-up of the eurozone is extremely dangerous for any departing country. "We strongly advise our European friends to demonstrate a stronger sense of solidarity," he said, adding that one country breaking away from the eurozone could lea ...

Turkey is an emerging country with a very young and active population making it one of the most important and attractive spots for IT sector and especially players in the the internet market. Google has long enjoyed a monopole existence in said market - like the rest of the world eexcept for a few countries such as China and Russia. However, American internet giant is now to face a big threat form a very st ...

One can find hundreds and thousands of we sites about Turkey country on the internet. A few are run by the state bodies such as Ministry of Tourism etc. Others are published by private companies or people. Among those we would like to refer to a very “unique” site where you can find the most special videos about this country. The site is called VIDEOSOFTURKEY.COM and was established about 10 years ago. Visi ...

Russian and Middle Eastern investors are being lured to Istanbul to buy luxury real estate now that property laws have been relaxed, the economy is strong, prices are relatively cheap in comparison and Turkey is viewed as a safe haven A new wave of wealthy investors from the Middle East and Russia is increasingly eyeing luxury developments in bustling Istanbul, lured by a relaxation in property laws, relati ...

Ashti Hawrami, the KRG’s energy minister, says that with a network of pipelines spanning Turkey to export oil, the KRG aims to become a major global energy player The Kurdistan Regional Government (KRG) sees itself as a soon-to-be major energy player, hosting the world’s largest oil companies and making use of its own strategic export pipeline system across Turkey, according to the energy minister of the au ...

General Atlantic buys stakes in Turkish online food company Turkey’s online food ordering firm Yemeksepeti.com has just received a USD 44 million cash boost to fuel its international push with the addition of US-based equity company General Atlantic as a minority stakeholder. With a user base reaching 1.5 million people, Yemeksepeti.com provides online food ordering and delivery service, processing tens of ...

A Turkish contracting firm, Gulermak is going to construct the Warsaw subway, one of the biggest investment projects in Poland. Gulermak with their partners Astaldi (Italy) and Polish (PBDiM) had signed the Contract for Warsaw Metro Line 2 Section, between Dasynskiego and Wilenski Stations, on 28.10.2009. The new line will be 7 km long and will be completely underground. There will be seven stations on both ...

Chatham House laid Turkey, its neighbors and Istanbul on the table. During a Chatham House meeting, Suzan Sabancı Dinçer stated that Turkey’s balancing role in the region is a result of the nation’s economic dynamism and stable democracy. Akbank hosted the third Turkey Project for one of the world's most respected international affairs think tank, the Royal Institute of International Affairs Chatham House m ...

Turkey is embarking on the mass production of its first 100 percent domestically made missile. Minister of Industry Nihat Ergün has announced that Turkey has begun the serial production of the SOM missile developed by the Scientific and Technological Research Institute of Turkey (TÜBİTAK).The missile, which was developed by TÜBİTAK in its entirety all the way to its batteries, has a 200 kilometer range and ...

Turkey uses 1 percent of global energy, gas consumption jumps Turkey consumes 1 percent of the world's total energy and 1.4 percent of its natural gas, according to a benchmark annual report by BP. The country's overall energy consumption increased 9.2 percent last year from 2010, while its oil consumption rose 5.8 percent to 32 million tons, or 0.8 percent of global consumption, the report said. Turkey's g ...

Turkey is certianly one of the rising stars in the world with its huge human/brain potential as well as production and consumption power. Accordingly the country has been drawing attention of global giants and is in fact one of the most interesting  and appealing markets for hi-tech industries and products. Based on above facts, it is not surprise that companies involved in hi-tech arena chose Turkey as the ...

Turkey draws USD 8.9 billion of FDI in 7 months The foreign direct investment (FDI) to Turkey showed no signs of slowing down despite the raging debt crisis in Europe and the political upheaval in the Middle East. The country attracted USD 8.9 billion of FDI in the first 7 months of 2012, an overwhelming majority of which, 77.4 percent, originated from Europe. “Turkey’s position as a popular destination for ...

The Istanbul Municipal Assembly approves a plan, which gives way to for the government to open a tender to realize the Haydarpaşa Port Project. The historical station may lose its public funciton, says a professional The Haydarpaşa Train Station, built in the beginning of the last centure, is one of the symbols of Istanbul. the government wants to initiate a large transformation project to establish a main ...

Prime Minister Recep Tayyip Erdoğan has announced that the Free Trade Agreement with Ukraine, for which negotiations are ongoing, will be complete by the end of the year. Speaking at a joint press conference with Ukrainian President Viktor Yanukovych, Prime Minister Recep Tayyip Erdoğan said, "Our current trade volume is 6.5 billion dollars. Our target is to bring that up to 20 billion dollars by the year 2 ...

The Ottomans had strong and original artistic traditions in everything from literature and music to ceramics, metalworking and textiles, as well as calligraphy, illumination and decoration. But none of these compare with the perfection they achieved in architecture. If the Renaissance manifested itself most perfectly in sculpture, then Ottoman civilization found its most mature expression in architecture... ...

Turkey leaps ahead in the global competitiveness ranking Improving macroeconomic stability and increasing accessibility of the financial sector catapulted Turkey’s rank by 16 places in this year’s Global Competitiveness Index, securing the 43rd spot in the 144-country survey prepared by the World Economic Forum. Turkey surpassed world’s leading emerging economies, the BRIC countries (Brazil, Russia, India, ...

Budget targets will not be met this year, according to Finance Minister Şimşek. The Finance Ministry has prepared a draft law that would introduce new tax hikes, focused on automobiles, tobacco products, real estate investment trusts and title deed fees, daily Zaman reported yesterday. The ministry drew up the draft after Finance Minister Mehmet Şimşek said this year’s budget targets will not be met. Work o ...

Some 1,000 business leaders from 87 countries will gather in Istanbul starting today to discuss the role of the private sector during a period of global economic crisis and recession that is dominating the world’s trade environment. The Union of Chamber and Commodity Exchanges of Turkey (TOBB), the country’s largest business organization, is hosting the event while marking its 60th anniversary. “The world e ...

Investments are flowing into the east despite the best efforts otherwise by the PKK terrorist organization. With the GAP Action Plan alone, the government has made a 38.5 billion investment and will be providing 400,000 jobs. The East, which has fast become a new area of attraction due to a series of incentives, has managed to rake in a record-breaking 1.5 billion in investments in just seven months’ time. ...

Speaking at a press conference during his stay in Azerbaijan, Prime Minister Recep Tayyip Erdoğan stated that the project started between Turkey and Azerbaijan in order to transport Azerbaijani gas through Turkey to Europe, the Trans Anatolian Pipeline, or TANAP, will make its mark on history. Speaking at a joint press conference following the Turkey-Azerbaijan High Level Strategic Cooperation Council Meeti ...