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Category Archives: Economy

Turkish economy remains bullish as Turkey and the UK strengthen trade ties

Turkey’s economy beat expectations in the third quarter of 2013, recording 4.4 per cent quarter-on-quarter growth and continuing on its growth track for the 16th consecutive quarter, according to official data. This latest statistic means Turkey is one of the top 10 fastest growing economies in the world. The country’s...

Posted on 13 December 2013

Gulf and Russian investors lead rise in foreign interest in Turkey, says Spot Blue International Property

Interest in Turkish real estate is surging as 2013 comes to a close, according to Turkey property specialist Spot Blue International Property, which is experiencing a dramatic rise in visits to its website, spearheaded by Russian and Arabian investors. For the three months to the end of November 2013, Spot...

Posted on 11 December 2013

EU-Turkey relations reach new level with visa liberalisation on the cards

The European Union took steps this week towards removing visa requirements for Turkish citizens, in a move that signals a snowballing unification between Ankara and the 28-member bloc. Turkey and Brussels will sign an agreement allowing EU governments to send back illegal immigrants crossing into Europe from Turkey. In return,...

Posted on 04 December 2013

Turkey’s currency “undervalued” and could strengthen in 2014, says international bank

Turkey’s currency is undervalued and in line to strengthen in 2014 when the country’s economy will continue to outperform the rest of Europe, said a leading international finance house in Istanbul in November. Societe Generale (SocGen) told Bloomberg this month that investors should buy the lira against the euro as...

Posted on 29 November 2013

World Bank President labels Turkey an “inspiration” and opens Islamic finance hub in Istanbul

Turkey has taken a step closer to becoming an important player on the global economic stage, following the opening of the Global Center for Islamic Finance in Istanbul on 30th October by World Bank Group President Jim Yong Kim. Jim Yong Kim was accompanied by Turkish Deputy Prime Minister Ali...

Posted on 22 November 2013

Turkey talks shop – demand for shopping space there now one of Europe’s highest

Highlighting Turkey’s growing middle class and its appetite for a consumer lifestyle, the country completed the second largest amount of new shopping space anywhere in Europe during the first half of 2013. The number one spot was taken by Russia. A report by international property consultancy Cushman Wakefield also showed that...

Posted on 19 November 2013

Economic growth in Turkey predicted to be double that of other OECD nations

Turkey will see average annual growth of 5.2 per cent between 2012 and 2017, while other OECD members are forecast to grow at 2.4 per cent for the same period, President of the Investment Support and Promotion Agency of Turkey (ISPAT), Ilker Ayci, stated recently. Ayci added that Turkey is the...

Posted on 04 November 2013

New railway tunnel promises to make Istanbul an East-West trading hub

A new railway tunnel linking the European and Asian sides of Istanbul opened on 29th October, with hopes it will make Istanbul a convenient trading route between Western Europe and South-east Asia, including China, in essence a modern-day Silk Road. The 1.4-kilometre tunnel, which runs under the Bosphorus Strait and...

Posted on 29 October 2013

Istanbul gears up for arrival of first Rolls Royce dealership

A sign of the growing prosperity of Turkish people and their appetite for leading worldwide brands, Rolls-Royce has announced plans for an authorised dealer to be based in Istanbul. The new dealership is to be officially named Rolls-Royce Motor Cars Istanbul and the new showroom is officially due to open...

Posted on 24 October 2013

Turkish investment delegation targets the world’s largest economy – the US

  Turkey’s on-going efforts to attract foreign investors took the country’s Investment Support and Promotion Agency of Turkey (ISPAT) to US capital Washington this month, where ISPAT President, Ilker Ayci, confirmed strong interest from US investors in opportunities in Istanbul and broader Turkey. Said Ayci: “These meetings proved that US...

Posted on 18 October 2013