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S&P Upgrades Turkish Credit Rating – Again

Turkey has received yet another upgrade as Standard and Poor upgraded its credit rating from BB to BB+ yesterday. I say yet another not because of a spectacular amount, but because of a very reasonable amount of times since the international financial crisis began; at a time when most movements...

Posted on 28 March 2013

Istanbul Playing to its Strengths in Olympic Bid Slogan

Bridge Together. That is Istanbul's slogan for its 2020 Olympic bid.  According to experts the slogan is aimed at highlighting the city's unique geographic location straddling Europe and Asia.  Youth and Sports Minister Suat Kılıç revealed the slogan yesterday, which was day-two of a four-day assessment of Istanbul's bid by the International...

Posted on 27 March 2013

It’s All Go in Gazipasa Airport

It's all go in Gazipasa. For those who don't know Gazipasa is a small Turkish town and the site of an airport, which was built in 2001 but has only opened and began accepting national and international flights in the last few years. According to a spokesperson for TAV Holdings,...

Posted on 21 March 2013

Turkish Airlines Posts Incredible 2012

Turkish national flagship carrier Turkish Airlines (THY) has posted a net profit of 1.13 billion Turkish Liras last year thanks to an increase in passenger numbers and occupancy rate. Off the back of this strong result the airline has ordered 117 planes from European aircraft manufacturer Airbus, according to a...

Posted on 19 March 2013

Turkey To Ease Residence Permit Rules for Foreign Buyers

According to a statement by Turkish deputy PM Ali Babacan, the country is set to make further accessions to attract foreign property buyers, potentially including longer residency visas for foreign buyers. "Turkey should be more tolerant toward foreigners who buy houses and spend substantial amounts of money to spend time...

Posted on 15 March 2013

Turkish EU Negotiations Regaining Traction

Turkey's EU candidacy looks like getting back on track as senior EU officials put their weight behind a new push, with support from Ankara. Turkey's EU accession negotiations were opened in 2005 but soon hit a brick wall. Only 13 out of the 35 negotiation chapters have even been opened,...

Posted on 14 March 2013

Turkish Current Account Deficit Falls to 26-Month Low

The Turkish current account deficit fell again in January, according to the latest data from the Central Bank. According to the report the deficit fell 2% compared to January 2012 to the lowest level in 26 months. Turkey has become one of the most vibrant emerging markets in the world...

Posted on 12 March 2013

Turkish-Greek Tourism Forum Increases Ties between Two Countries

A Turkish-Greek tourism forum was recently held in Ankara and garnered considerable interest from Turkish and Greek officials and business-people. It's anticipated the forum will help increase the flow of tourists between Greece and Turkey through increasing cooperation between travel agencies in the two countries. The Greek ambassador was also...

Posted on 08 March 2013

Is 2013 the year to invest in ‘non-euro’ Turkey?

A strong Olympic bid, a new ‘mega’ airport and booming tourism – is 2013 the year to invest in ‘non-euro’ Turkey?  Turkey’s appeal to property investors has surged since the start of 2013, as the weaker Pound makes the Eurozone unattractive to UK buyers, plans for the world’s largest airport get under way in Istanbul...

Posted on 07 March 2013

Trade Grows between the UAE and Turkey

Figures show that trade between Turkey and the UAE reached $9.1 billion during the first eight months of 2012, three times the amount in 2011. The economy in the UAE is predicted to grow by 4% in 2013 compared to 3% last year, and this should positively impact trade and...

Posted on 06 March 2013