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Turkish News Roundup February 2011

Posted on 02 March 2012

New Flights

February saw the addition of two new Turkish flights. Rusline announced new twice weekly flights between Nalchik and Istanbul Sabiha Gocken.

Turkish Airlines continued their expansion with new indirect flights to Mogadishu in Somalia via Khartoum.

Business/Investment

February saw two major global firms make Turkey their regional hub. British Telecom announced that it would double its investments in Turkey to turn Istanbul into not only its regional hub, but into a global centre for satellite excellence.

Vodafone also announced that it would make Turkey its regional base of operations. At the same time Vodafone also announced that Turkey would be one of only six countries in which it would try out its new mobile payment system in conjunction with Visa.

Turkey and China increase Trade

During his visit to Ankara Vice President Xi Jinping and Turkish President Abdullah Gul attended a signing ceremony which saw several new deals to increase trade between the two emerging markets.

The biggest was a 3 year currency swap deal worth around 3 billion TRY signed by the two corresponding central banks. The deal is open to be extended on mutual consent. The currency swap deal was one of six deals signed in various fields, aimed at increasing the current 11 billion USD trade between the two countries.

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