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Category Archives: Economy

Inflation Hits 41 Year Low as Economy Grows 6.4%

Turkish inflation fell to 6.4% in 2010, a 41 year low. While the fact that 2010 total GDP growth matched that figure is brilliant, it is most likely that history will reflect on the inflation as the most important achievement in Turkey's economic development. History will remember the 2001 financial...

Posted on 04 January 2011

Turkish Property Boom Finally Hears the B Word

Well it finally happened, the word bubble was mentioned in relation to the Turkish property boom, but no, we aren't going to argue against it. This is because caution over whether the boom is a bubble has led to banking regulator the BRSA capping the maximum loan to value at...

Posted on 30 December 2010

Turkish Central Bank Cuts Rate Further

The Turkish Central Bank has again cut its rates as inflation continues to slow in the rapidly growing economy. The bank said in an emailed statement that it was reducing its one week repo lending rate by 0.5 percentage points, bringing it to a record low. Recently the banks Deputy...

Posted on 17 December 2010

Turkey: the Fastest Growing Economy in Europe Growing Beyond Expectations

Ali Babacan, the Turkish Minister for the Economy has said that the massive increase in the industrial production index for October means that the government's economic growth forecast for 2010 must be revised upwards. "Industrial output increased by 9.8 percent in October. The recovery in Turkish industry started in October...

Posted on 10 December 2010

Ankara Leaves Property Tax Value Unchanged, Calls on Poland’s Support for EU Bid

Turkish property owners or those currently purchasing a property in Turkey will be glad to hear that the government has decided not to increase the value it holds on their property for taxation purchases, and so the rate at which they pay tax against the property will not go up...

Posted on 09 December 2010

Investor Confidence in Turkey Back to 2007 Levels

According to the Deloitte "Private Equity Confidence Survey," or PECS, investors have the same level of confidence in Turkey as they did in 2007 before the international financial crisis first reared its ugly head. The PECS report is based on the results of a huge survey asking the views of...

Posted on 02 December 2010

State-Owned Turkish Property Developer in 1 Billion TYR IPO

State-owned Turkish real estate developer is selling a 25% stake of the company in an Initial Public Offering next week. The firm is selling 625million shares at between 1.60 and 2.15 Turkish Liras each. Doing the math that is a valuation of 1 billion liras (at the lowest price of...

Posted on 07 November 2010

Turkish Employment to be Boosted Massively by Turkish Silicon Valley

Nihat Ergün, Turkish minister for industry and trade has said that Turkey's first “Silicon Valley” will be based between Kocaeli and İstanbul. Publication Today's Zaman has learned that the valley will be span 1100 acres of land, in what is recognised as the most industrialised region of Turkey. Ergün said...

Posted on 05 November 2010

Turkey Most Suitable Candidate for Seat on IMF Executive Board

With each passing week and month Turkey continues to impress investors more and more. The Turkish economy is now one of the fastest growing economies in the world. The latest news is that Turkish exports increased by a further 5.5% year on year in September, to 8 950 Million USD....

Posted on 28 October 2010

Turkish Property Shines as Best Performing Regional Market

Turkey is recovering from the global financial crisis strongly, with its economy ranked as one of the best and most stable performers in the region, according to a recent report from real-estate brokerage Cushman & Wakefield. Real estate investment brokerage Cushman and Wakefield have reported that Turkey is one of...

Posted on 21 October 2010