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Category Archives: Economy

Turkey in the top 50 most competitive economies in the world

Turkey is ranked 44th in the latest 2013-2014 Global Competitiveness Index (GCI), a table produced by the World Economic Forum (WEF) which assesses 148 economies around the world on their level of productivity according to each country’s institutions, policies and condition of their economy. This represented a fall of one...

Posted on 06 September 2013

Turkey and olives – a recipe for success!

Olives and the oil that comes from them are one of the highlights of life in the Mediterranean, with different countries, including Turkey, claiming to produce the best. However, one thing that is indisputable right now is the rising number of people around the world who now consume Turkish olive...

Posted on 05 September 2013

Rail upgrades on track to increasing investment appeal of Istanbul property market

Many of Istanbul’s burgeoning residential districts are on the verge of becoming more accessible places to live, after a landmark new rail link connecting the European and Asian sides of the city neared completion when it carried its first passengers as part of a test run in August.The Marmaray Project,...

Posted on 03 September 2013

Leading fashion brand coming to Turkey’s High Street by end of 2013

Shoppers in Turkey will soon have the chance to look as fashionable as their European neighbours, thanks to plans announced this month for the opening of Superdry stores there.The news comes after UK based SuperGroup, which owns the Superdry brand, signed a five-year exclusive franchise agreement with Turkish firm Demsa...

Posted on 27 August 2013

Weaker Lira and rate rise means more spending money for expats

Expats living off the interest paid on savings in their local Turkish bank can enjoy an extra meal out each week, after Turkey’s central bank raised interest rates for the first time since October 2011. It’s not uncommon for resident Brits to deposit lump sums in a high interest Turkish...

Posted on 23 August 2013

Turkey Set to Become Top Economy in OECD

According to the latest predictions of the Organisation for Economic Cooperation and Development (OECD) Turkey is set to post the second highest GDP growth in the organisation next year, it said in its "Employment Outlook 2013" report. In the report Turkey was named as one of the few countries that...

Posted on 24 July 2013

Ford to Complete Move From UK to Turkey

Ford Motors, one of the world's largest car manufacturers is closing up its operations in Britain and moving completely over to Turkey. After recently closing its 40 year old plan in Southampton the firm is now set to do the same in Dagenham beforing moving the operation across to its...

Posted on 19 July 2013

Emerging Turkey: Rising Oil Demand Fuels European Refineries

Turkey and its emerging market counterparts are keeping refineries open across the Mediterranean's developed nations according to the International Energy Agency's monthly oil report. The report says that growing demand from Turkey and North African nations is directly responsible for refineries in Italy and Spain's ability to stay in business....

Posted on 12 July 2013

Turkish Exports Up 2.5% in First Half

According to the latest export data, Turkey sold products worth USD 74.66 billion in the first half of this year. This represents a growth of 2.5 percent compared to a year ago, the figures from the Turkish Exporters' Assembly (TIM) show. This sends positive signals for year-end goals according to...

Posted on 03 July 2013

Turkey Plans Continued Economic Surge

A draft for Turkey's 10th 5-year economic development plan has been sent to Parliament. According to the plan Turkey will reach an annual growth rate of 5.5%, have a 4.5% inflation rate, and a 7.2% unemployment rate by the end of 2018. The Ministry of Development plans to meet the...

Posted on 18 June 2013