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Ground Breaks on 500 Million Euro Natural Gas Plant in Turkey

The ground-breaking ceremony for a €500 million natural gas burning power plant has just been held. The 775 MW plant, which is being constructed by the German power supplier RWE and Turkeys Turcas, is being built in the Aegean province of Denizli and is expected to be operational by the...

Posted on 15 April 2011

Turkey Dominant in Trip Advisor Chart of Best Beaches

TripAdvisor has just unveiled its chart of the top 25 beaches in the world, and we are very proud to see many Turkish beaches making the grade. At number 5 we have Olu Deniz. Those who know the place will be unsurprised by everything, except maybe that it is not...

Posted on 08 April 2011

Turkish Exports Increase in March

Turkish exports grew 22.8% year on year in March according to the latest figures from the Turkish Exporters Assembly (TIM), taking the monthly total to $11.7 billion. According to the data, the majority of the exports ($1.4 billion) came from the car industry. TIM chairman Mehmet Buyukeksi said that these...

Posted on 07 April 2011

With Turkish GDP Up 8.9% in 2010, Can Erdogan Keep his Grip on Inflation?

Turkstat has just revealed its data on GDP growth for 2010 and the final figure was 8.9%, considerably higher than the 6.4% reported by Prime Minister Erdogan at the start of the year. According to the data, the Turkish economy grew 9.2% in the fourth quarter, following growth of 11.3%,...

Posted on 01 April 2011

Akbank Subsidiary to Launch 4 New Turkish Real Estate Funds

Four new capital protected property funds are to be launched in Turkey by Akbank subsidiary Ak Asset Management. The funds, which will be linked to food, gold and oil prices are due to be opened next month. "The capital protected property fund has started to gain a larger share in...

Posted on 31 March 2011

Turkish Property Boosted by Strong German Recovery

Turkey, as part of the Central and Eastern European region is benefiting from the rapid recovery being seen in the German economy, says a leading expert in the field. "Though southern Europe is having serious troubles, we are observing very strong growth in Germany and the Central and Eastern Europe...

Posted on 26 March 2011

British Tourism to Turkey Climbs 10% in 2010

The latest data on Turkish tourism shows a 10% year on year growth in British visitors in 2010. According to the data, Turkey received an impressive 28.6million visitors last year, 2.67 million of those were British. "Turkey has gone from strength to strength in the UK market," said Tolga Tuyluoglu...

Posted on 25 March 2011

Turkish Airport Traffic Continuing 2010’s Strong Growth into 2011

Anna.Aero has just published a table of growth in traffic to Turkey's airports, and it makes for very interesting reading. According to the data Turkish airport traffic grew 10.8% year on year in January, and 17.5% (why does that number take me back to happier times) year on year in...

Posted on 18 March 2011

Turkey in the News: Budget surplus for January and February 2011

Date: 16/03/2011 Turkey in the News: Budget surplus for January and February 2011 The Turkish Ministry of Finance has announced a budget surplus of USD 630 million for January and February 2011 which Mr Mehmet Simsek, the Turkish Minister of Finance said is the first time in the last 28...

Posted on 17 March 2011

Turkey in the News: December unemployment rate down

Date: 16/03/2011 Turkey in the News: December unemployment rate down Turkey’s December 2010 unemployment rate decreased 2.1% to 11.4% in December 2010 – this down from 13.5% for the same month in the previous year. According to Turkstat (Turkish Statistics Institute) the jobless numbers was down by 432,000 in December...

Posted on 17 March 2011