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Demand for Clean Energy in Turkey Set to Increase

It's expected that demand for clean energy in Turkey will increase substantially over the next two years in spite of slowing economic growth. The deputy energy minister, Hasan Murat Mercan has estimated that Turkey needs to spend around $10 billion on generating new power each year for the next decade....

Posted on 08 February 2013

Turkey Doesn’t See Shanghai Group as Alternative to EU

Turkey is looking at joining the Shanghai Cooperation Organisation (SCO), but according to the Turkish president, Abdullah Gul, this is not as an alternative to gaining full membership to the EU. Turkey is still pursuing negotiations to join the EU, and is looking to successfully conclude accession talks. The question...

Posted on 07 February 2013

Turkey Announces Plans to Build Biggest Airport in the World

Turkey has recently announced its intention to build the best airport in the world in Istanbul. Once the €7 billion project is completed it will have an estimated capacity for 150 million passengers, and the project is worth around €7 billion. The tender for the project closes at the beginning...

Posted on 31 January 2013

Turkey to Resume Talks with France on Nuclear Power Plants

France and Turkey has agreed to resume their talks on nuclear energy, as Ankara has plans to build three nuclear power plants within the next five years. The French foreign trade minister, Nicole Bricq recently met with the Turkish energy Minister Taner Yildiz to discuss nuclear power projects. France is...

Posted on 26 January 2013

Full Extent of Turkey’s Shale Gas Reserves Unknown

It is certainly good news that Turkey has considerable deposits of shale gas, as foreign energy imports account for a major part of the current account deficit. Extracting the shale gas could mean Turkey will finally enjoy the competitive energy prices. In 2011 the US government released its analysis of...

Posted on 25 January 2013

Turkey to Use Human Rights Law to Try to Recover Ancient Artifacts

Turkey has a rich archaeological history, but many of its ancient artifacts are owned by museums in the West, but now Turkey is planning to try to recover many of these relics through using the human rights law. It is to file a lawsuit in the European Court of Human...

Posted on 19 January 2013

Abu Dhabi Owned Company Invests in Turkish Coal Mines

Taqa, an Abu Dhabi owned company has recently signed a coal plant deal with Turkey that could be worth $12 billion. The agreement was signed at the beginning of the month and allows Taqa to develop Turkish coal mines. The company will work in conjunction with the Turkish government owned...

Posted on 17 January 2013

Turkey Keen to Boost Trade Volume with Africa

Turkey is keen to boost its trade volume with Africa, and has set a target figure of $50 billion by 2015. The Turkish Prime Minister, Recep Tayyip Erdogan, accompanied by a delegation of 250 businessmen, recently toured Niger, Gabon and Senegal. The trip is all part of the Turkish government’s...

Posted on 11 January 2013

Fears of a Property Bubble Forming in Turkey Are Unfounded

There have been quite few concerns that a property bubble could form in Turkey, leading to the kind of problems seen in Spain. However experts don't think this is very likely to happen due to a number of different factors. Recently Turkish banks have been reducing interest rates on home...

Posted on 10 January 2013

More Travel Agents Choosing to Focus Their Attention on Turkey

Travel agencies are always seeking new destinations, and the economic downturn in Europe has meant the popularity of traditional holiday countries such as Italy, Greece and Spain has declined, and Turkey is increasing in popularity. Rising unemployment figures and economic cutbacks have meant many people have less money to spend...

Posted on 05 January 2013

Turkish Foreign Trade Deficit Declined in November

According to figures from the Turkish Statistical Institute, Turkey's foreign trade deficit fell by 5.5% in November, declining from $7.57 billion to $7.16 billion compared to November 2011. In spite of the decline appearing to be quite significant, it didn't impress investors as it was below market expectations. Turkish exports...

Posted on 04 January 2013

More on the Turkish Airlines Istanbul Global Mega Hub

We covered the rapid expansion of Turkish airlines, and of its Istanbul Ataturk airport base into a Global Mega Hub yesterday, and included some new routes added by the airline past and upcoming future, but as Anna Aero has also just covered a full feature on upcoming routes to be...

Posted on 14 December 2012

Turkish Airlines Expanding Global Mega Hub in Ataturk

According to a new (and very interesting) report from aviation-industry analysis website Anna.Aero, Turkish airlines is successfully turning Istanbul into a global mega [travel] hub, as part of President and CEO, Dr Temel Kotil's aim of making it the largest airline on earth. The report goes on to explain the...

Posted on 13 December 2012

Turkey Hopeful of Receiving Better Ratings

Turkey is hopeful of receiving better ratings from international credit evaluators, as its foreign trade deficit fell 31% in October compared to October 2011. Figures from the Turkish Statistical Institute show exports grew by 11.6% in October year on year, while imports declined by 5.6% during the same period. It's...

Posted on 07 December 2012

Turkey Talking Energy with Russia

The Russian president recently visited Turkey as the two countries are looking to increase bilateral trade from its current level of $32 billion to around $100 billion. This is an ambitious target, and is largely dependent on the Turkish energy imports. During the first 10 months of this year Russia...

Posted on 06 December 2012

Turkish Economy Set For Happy Christmas and New Year

While the Turkish economy has gone from the sick man of Europe to one of the continent's strongest and most stable economies over the last 10 years, it still has its problems. The biggest one has always been unemployment, but during the last 2 years this really started to fall....

Posted on 01 December 2012

Turkey Shows Off Growing Prowess with High Speed Trains

It's expected that Turkey's growing network of high-speed trains could save the country $800 million a year. By 2023 Turkey is expected to have 10,000 km of high-speed train lines out of a total of 25,000 km, and it's anticipated this will have a considerable effect on cultural, social and...

Posted on 29 November 2012

Turkish Airlines announces 4 new destinations

Istanbul, 27 November 2012 - Turkish Airlines, Turkey’s national flag carrier, has announced 4 new destinations, Salzburgin Austria, Luxorand Aswanin Egyptand Colomboin Sri Lanka. With these new routes Turkish Airlines reaches nearly 250 destinations from Istanbul and again being crowned the “Best Airline in Europe” Turkish Airlines is aiming to...

Posted on 28 November 2012

Turkey’s new high speed train network to boost economy

Istanbul, 26 November 2012 - By 2023 Turkey is expected to have 10,000 kilometres of high speed track out of the country’s total of 25,000 kilometres. Speaking recently Binali Yildirim, Turkey’s Minister of Transport and Communication, said  “The high-speed train lines that will connect four major cities Ankara to Istanbul,...

Posted on 28 November 2012

Tenders for Istanbul’s third airport expected by end 2012

Istanbul, 25 November 2012 – At a cost 6.5 billion USD Istanbul’s 3rd airport is expected to be put out to tender before 31 December 2012. The first phase of the airport will have 3 runways and a 100 million passenger capacity and should be completed in 2016. The project...

Posted on 28 November 2012