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Category Archives: Economy

Unemployment set to Fall as Tesco Invests in Turkey

Tesco is happy with growth statistics from its Kipa chain of stores in Turkey, and will continue its investments the country's retail sector, according to a spokesperson for the country. Tesco CEO and Operations Director Tony Hoggett, outlined new store concepts and future plans for Turkey. “Turkey’s credit ratings are...

Posted on 15 October 2010

CIVETS to Take Over from BRICs as Emerging Markets Lead Global Recovery

"It's a defining moment," said HSBC CEO Michael Geoghegan. He was referring to the fact that emerging markets are expected to overtake their developed counterparts in purchasing power parity. "Emerging markets will grow three times faster than developed countries this year and are driving global recovery," he said. "Within three...

Posted on 13 October 2010

Soyak Partners with Spot Blue to Increase Overseas Presence

Soyak, one of the largest developers of residential real estate in Turkey has Chosen Spot Blue to market its Istanbul properties to the UK, European and international markets. The power of the Soyak brand within Turkey is impossible to overstate; with a history of successful developments spanning almost 50 years...

Posted on 08 October 2010

Turkish Economy to Grow 7.8% in 2010 says IMF

The International Monetary Fund has just upgraded Turkey for the second time in 12 months, but it is still giving a very conservative projection. The IMF increased their 3.7% 2010 growth forecast made in October 2009, to a forecast of 5.2% in April this year. They have now increased this...

Posted on 07 October 2010

Danske Bank Raises Forecast on Turkish Economy

As if running on from recent reports that trade and investment between the United Arab Emirates and Turkey is returning to pre-crisis levels, Danish bank Danske Bank (one of the leading banks in Europe) has cited investment levels in Turkey rising to pre-crisis levels as one of the reasons for...

Posted on 30 September 2010

Turkey UAE Trade Back to 2008 Levels

The United Nations Ambassador to Turkey has said his time is dominated by promoting and facilitating business deals and investments between the two countries, as Turkey/UAE trade returns to near 2008 levels. Al-Mualla said that he is happy to see Turkey has a renewed focus and new vigour with regard...

Posted on 29 September 2010

Turkish GDP Grows 10.3% in Second Quarter – 3rd Fastest in World

This week saw Turkstat release figures for Turkish Gross Domestic Product growth in the second quarter and we have not been disappointed -- not by much anyway. According to Turkstat, Turkish GDP grew 10.3% year on year in the second quarter, following the massive 11.7% year on year growth recorded...

Posted on 15 September 2010

Nabucco Takes Huge Step Forward as 4 Billion Euro Loans Agreed

The Nabucco pipeline has taken a giant step forward this week when representatives from some of Europe's biggest financial institutions signed on the dotted line with regards their financing of the project. For anyone in the dark as to what Nabucco is, it is a huge pipeline project to connect...

Posted on 09 September 2010

Turkey Admission into Europe to be Electric this Month

Turkey maybe struggling to become a full member of the European Union, but they have successfully gained their entry into the European Electric Grid. Currently the European Union shares a combined electricity grid, with the exception of the UK, Finland, Norway, Sweden, and, of course Turkey, that is until now....

Posted on 08 September 2010

Turkish Economy Powering Forward as one of Hottest Emerging Markets

Turkey is continuing to drive forward on its path to one of the world's greatest emerging markets. Analysts believe the economy grew 10% in the first half of the year. And reports have emerged that this growth is continuing to fuel employment growth. The air transportation industry has been an...

Posted on 03 September 2010