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Category Archives: Economy

Turkish Economy to Grow More than Previously Expected Says World Bank

The World Bank country director for Turkey, Ulrich Zachau has said that the organisation "expects" Turkey's economy to grow by 4-4.5% this year, which is higher than the World Bank's running forecast of 3.5%. On the other hand, he said that high unemployment would continue to be a problem in...

Posted on 03 February 2010

Turkish US Trade to Increase by a Factor of 3

Speaking at a lunch hosted by the Turkish–American business council, U.S. Ambassador to Ankara James Jeffrey has said that trade between the two nations could increase by up to three times. After taking time to understand the problems and develop a plan for trade relations, Turkey and the United Sates...

Posted on 28 January 2010

Turkish 10 Year Bond Sale a Testament to Investor Confidence in Turkey

The Turkish government has raised 934million Turkish lira from the sale of landmark 10 year bonds, which, by all accounts brought tremendous demand at auction. Turkey's bond issuance is not the first and it will not be the last such move as countries attempt to raise some much needed cash...

Posted on 26 January 2010

Hilton to Open 15 New Hotels in Turkey

In one of the biggest testaments to the potential for growth in Turkish tourism to date; Hilton Hotels has announced that it will open 15 new hotels in Turkey. Hilton already has 9 hotels in Turkey, having been the first international hotel chain to invest in Turkey over 55 years...

Posted on 15 January 2010

Turkish Economy to See Growth Boosted by New IMF Deal in 2010

The Turkish economy is predicted to grow by around 5% this year. A whole slew of analysts and brokers at investment funds, research groups and banks have forecast growth of between 4 and 7%, with 5.2% being the average forecast from the reports I have read. The International Monetary Fund,...

Posted on 14 January 2010

Turkey Embraced by West – Revered by East… Best of Both Worlds?

Turkey is proudly taking its place as one of the key markets in the world we are all rebuilding after the catastrophic crash of the last 18 months. Today it officially launched its bid to host Euro 2016, where it will compete with the likes of France and Italy to...

Posted on 24 December 2009

A Look Back at Turkey’s Economic News Week

This has been a big week for the Turkish economy, and to a certain extent, for the property market as well. Firstly the Central Bank kept the key interest rates unchanged for the first time since October 2008; with the overnight borrowing rate at 6.5% for the overnight rate, and...

Posted on 18 December 2009

Turkish Textile Industry Receives Record Orders – Clear Sign of Global Recovery

Turkey's textile industry has received record orders, in one of the clearest signs yet that the global economic recovery is underway. Yes, you are forgiven for thinking, what? And yes, you are right, record orders in the Turkish textile industry is the kind of headline you can easily skip right...

Posted on 17 December 2009

Turkish Government Continues to Turn Turkey into International Influencer

The Turkish government will likely go down in history as one of the most adept at building and strengthening international relations and building the country's international presence. Erdogan has just returned from official meetings in Mexico and in Washington, where he met with the President. During the visit Erdogan secured...

Posted on 12 December 2009

The Future is Bright, the Future is Turkey

Today further news emerged that the Turkish economy is firmly in recovery. The economy contracted 3.3% in the third quarter, which is a lot slower than in previous quarters. The annualised contraction for this year is now expected to be 6%. Also positive: the government has forecast 3.5% growth next...

Posted on 10 December 2009