Menu

Posts by admin

Saudi company invest 1 billion USD in Turkey

Istanbul, 21 October 2012 – The ALJ Holding Group from Saudi Arabia has announced plans to invest 1 billion USD in Turkey. According to ALJ Holding Chairman and Chief Executive Officer, Ali Haydar Bozkurt, “We’ve always put Turkey at the centre of our targets and have worked with this in...

Posted on 23 October 2012

Turkey’s exports increase again

Istanbul, 20 October 2012 - According to data released by the Turkish Exporters’ Assembly exports increased by 7.4 percent to 11.4 billion USD in September 2012 compared with the same period in 2011. Exports for the first 9 months of 2012 have increase by 12.1 percent over the same period...

Posted on 23 October 2012

Chinese power plant equipment maker joins forces with local Turkish partner

Istanbul, 20 October 2012 - Harbin Electric, China’s largest power plant equipment manufacturer, has entered into a JV with one of Turkey’s Hattat Holdings subsidiaries to manufacture of boilers, generators and turbines used in power production industry. The new factory will be located in western Turkey and completed by 2014,...

Posted on 23 October 2012

Bank of China and Akbank form partnership

Istanbul, 19 October 2012 - To help Chinese companies and investors Akbank and Bank of China have joined forces through a “Chinese Business Desk” in Istanbul. Over 450 Chinese companies have invested in Turkey with bilateral trade between China and Turkey reached 24 billion USD in 2011. Source: Invest in...

Posted on 23 October 2012

Japanese giant to invest 500 million USD for tyre manufacuring in Turkey

Istanbul, 24 September 2012 – Sumitomo Rubber, the giant Japanese tyre manufacturer, has announced plans to invest 500 million USD in a new factory in Cankiri in the Central Anatolian area of Turkey. The new factory, being built in partnership with Abdulkadir Ozcan AS, is expected to export 90 percent...

Posted on 22 October 2012

UK’s RES Energy is to invest over 60 million GBP in wind energy in Turkey

Istanbul, 21 September 2009 - It has recently been announced the British renewable energy group RES is set to invest over 60 million GBP in a 48 MW wind energy plant close to Samsun on the Black Sea coast of Turkey. Construction is set to start in 2014 and will...

Posted on 22 October 2012

Turkey’s Eastern Provinces Gain $6 Billion in Investment

The eastern provinces in Turkey have managed to secure $6 billion in investment during the past four months, thanks to the government’s industrial incentives program, according to a report from the Science, Industry and Technology Ministry. The government plan has divided the country into six regions, giving the least developed...

Posted on 19 October 2012

Turkish Exports Continue to Grow Strongly in September

At 11.4 billion USD Turkish exports increased by 7.4% year on year in September. The year-to-date performance is even more impressive, with 111.4 billion USD taking us up 12.1% compared to the same period in 2011. Par for the current course automotive exports remained at the top of the tree...

Posted on 18 October 2012

Turkey Property Becoming More Popular amongst Investors

Turkey is set to become more popular amongst investors, especially as it recently opened up its property sector for foreign investment. According to a report by Jones Lang LaSalle, this new law is especially expected to affect investors from the Gulf countries who are looking to buy residential property, but...

Posted on 12 October 2012

Big News on the Turkish Golf Scene

It's all go in the Turkish golf scene this week. Not only did Tiger Woods make the headlines for all the wrong reasons in the Turkish Airlines World Golf Final, but the first official Turkish Golf Open as part of the European PGA Tour was also announced. The new tournament...

Posted on 11 October 2012

UK Due to Help Turkey with EU Bid

The UK recently announced it would support Turkey’s bid to join the EU during a visit to the country's by the Deputy Prime Minister Nick Clegg. The UK will help Turkey bring its judiciary up to the standard required by the European Union. In order to achieve this, a project...

Posted on 06 October 2012

Turkey to Clear IMF Debt by April 2013

Turkey is to clear its remaining debt to the IMF by April 2013 according to Prime Minister Erdogan in a statement made last week. “At the present we owe a total of $1.3 billion to the IMF and we will cut it to zero by next April,” Prime Minister Recep...

Posted on 04 October 2012

Turkey Continues Global Outreach with New Gambia Agreement

One of the things I love most about the Turkish government's economic management is the fact that it never rests on its laurels. When Turkey reached visa-free deals with several Arab states just before the Arab spring eradicated much of its competition for Arab tourism it seemed as though Erdogan...

Posted on 28 September 2012

Turkey to be Declared Key Country for EU

The European Union is to declare Turkey as being essential for the prosperity and security of the area, but is still critical of Ankara’s failure to make progress towards accession. These issues are to be raised in the EU’s draft strategy paper, the Enlargement Strategy Paper which is due to...

Posted on 27 September 2012

New Award Confirms Spot Blue as leading Overseas Property Agency

UK based Spot Blue, a specialist in buying and selling property in Turkey, has won the category of “Real Estate Agency Website - Turkey” at the 2012-2013 European Property Awards. The accolade for www.spotblue.com was announced at a prestigious event at the London Marriott Hotel on Monday, 24th September. The...

Posted on 27 September 2012

Natural Gas Reserves Found on Turkey’s Black Sea Coast

It was recently announced that natural gas deposits have been found on Turkey's Black Sea coast. This is an extremely important development as it is one of Turkey's first natural gas reserves. The Turkish Petroleum Corporation (TPAO) was in charge of the drilling operation that discovered the key natural gas...

Posted on 21 September 2012

New Incentives Bring New Wave of FDI to Turkey

The latest round of investment incentives has paid off in Turkey, as according to reports another wave of major investment is headed for the strategically important emerging market. İlker Aycı, President of the Investment Support and Promotion Agency of Turkey (ISPAT) told a press conference that a big North American...

Posted on 20 September 2012

Foreign direct investment into Turkey continues apace

Istanbul, 13 September 2013 - According to recently released data foreign direct investment to Turkey was 8.9 billion USD to the end of July 2012, of which over 75 percent originated from Europe with the UK being the largest with nearly 2 billion USD. Commenting on the performance, Zafer Caglayan,...

Posted on 18 September 2012

South Korean bank to open office in Turkey

Istanbul, 11 September 2012 - Speaking at a recent press conference, Yun Yong-ro, CEO of Korea Exchange Bank, said the bank is considering applying for banking licence in Turkey, If it goes ahead it will be the South Korea’s first bank to establish a bank in Turkey. Korea Exchange Bank...

Posted on 18 September 2012

Turkey Discusses the Trans-Caspian Pipeline

Senior officials from Azerbaijan, the European Union, Turkey and Turkmenistan recently met to discuss the Trans-Caspian gas pipeline that will deliver gas to Europe through Azerbaijan and Turkey. The main aim of the project is to reduce Europe's dependence on Russian gas, and Turkmenistan is also trying to diminish its...

Posted on 14 September 2012