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Turkish Economy to Grow More than Previously Expected Says World Bank

The World Bank country director for Turkey, Ulrich Zachau has said that the organisation "expects" Turkey's economy to grow by 4-4.5% this year, which is higher than the World Bank's running forecast of 3.5%. On the other hand, he said that high unemployment would continue to be a problem in...

Posted on 03 February 2010

Turkish US Trade to Increase by a Factor of 3

Speaking at a lunch hosted by the Turkish–American business council, U.S. Ambassador to Ankara James Jeffrey has said that trade between the two nations could increase by up to three times. After taking time to understand the problems and develop a plan for trade relations, Turkey and the United Sates...

Posted on 28 January 2010

Turkish 10 Year Bond Sale a Testament to Investor Confidence in Turkey

The Turkish government has raised 934million Turkish lira from the sale of landmark 10 year bonds, which, by all accounts brought tremendous demand at auction. Turkey's bond issuance is not the first and it will not be the last such move as countries attempt to raise some much needed cash...

Posted on 26 January 2010

Hilton to Open 15 New Hotels in Turkey

In one of the biggest testaments to the potential for growth in Turkish tourism to date; Hilton Hotels has announced that it will open 15 new hotels in Turkey. Hilton already has 9 hotels in Turkey, having been the first international hotel chain to invest in Turkey over 55 years...

Posted on 15 January 2010

Turkish Economy to See Growth Boosted by New IMF Deal in 2010

The Turkish economy is predicted to grow by around 5% this year. A whole slew of analysts and brokers at investment funds, research groups and banks have forecast growth of between 4 and 7%, with 5.2% being the average forecast from the reports I have read. The International Monetary Fund,...

Posted on 14 January 2010

Turkey to Hit Close to 30 Million Tourists Target for 2010

Turkish tourism and culture minister Ertuğrul Günay has said that if Turkey doesn’t hit its target for 30 million tourists in 2010 it will stagger it. No of course he didn’t really say that, but he did say that Turkey will receive close to 30million tourists this year. "I think...

Posted on 07 January 2010

Turkey and Brazil Agree Strategic Alliance

Turkish foreign minister Ahmet Davutoğlu has announced a new strategic partnership with Brazil. Speaking with his Brazilian counterpart Davutoğlu said: "I believe that Turkey-Brazil relations would make major contributions to global and regional peace," Davutoğlu said adding that Turkey and Brazil had no political or economic problems between each other....

Posted on 05 January 2010

Turkish New Home Sales up 24% on Last Year

Home sales in the first nine months of this year, were an incredible 24% higher than in the same period last year, according to the Real Estate Investing Partners Association (GYODER/ GYODER said that the cuts in title deeds fees and the Turkish equivalent to VAT (KDV) had played a...

Posted on 31 December 2009

Turkey Embraced by West – Revered by East… Best of Both Worlds?

Turkey is proudly taking its place as one of the key markets in the world we are all rebuilding after the catastrophic crash of the last 18 months. Today it officially launched its bid to host Euro 2016, where it will compete with the likes of France and Italy to...

Posted on 24 December 2009

Turkey Tourism: 2010 to be the Year of Patara

Patara in Turkey has ranked 4th in the TripAdviser top 5 World Destinations for 2010. Patara is known around the world for its 12 mile-long beach which has been made into a national park. The coastline at Patara has been an important piece of ground since Roman and Lycian times,...

Posted on 23 December 2009