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Category Archives: Economy

Turkish Airlines Posts Incredible 2012

Turkish national flagship carrier Turkish Airlines (THY) has posted a net profit of 1.13 billion Turkish Liras last year thanks to an increase in passenger numbers and occupancy rate. Off the back of this strong result the airline has ordered 117 planes from European aircraft manufacturer Airbus, according to a...

Posted on 19 March 2013

Turkish Current Account Deficit Falls to 26-Month Low

The Turkish current account deficit fell again in January, according to the latest data from the Central Bank. According to the report the deficit fell 2% compared to January 2012 to the lowest level in 26 months. Turkey has become one of the most vibrant emerging markets in the world...

Posted on 12 March 2013

Trade Grows between the UAE and Turkey

Figures show that trade between Turkey and the UAE reached $9.1 billion during the first eight months of 2012, three times the amount in 2011. The economy in the UAE is predicted to grow by 4% in 2013 compared to 3% last year, and this should positively impact trade and...

Posted on 06 March 2013

Microsoft Knocking Down Turkey’s Door to Join Fatih Project

IT giant Microsoft is very keen to get into Turkey according to the latest announcement from Turkish Science and Technology Minister Nihat Ergün. Ergün has told how Microsoft has bolstered an early pledge to take part in its Fatih program – an education system built around tablet computers – adding...

Posted on 26 February 2013

Turkey Strongest Economy in EU Paddock Says EC

We haven't had official figures for Turkish GDP growth for all of last year yet, but this hasn't dettered the European Commission from predicting that Turkey will be the strongest country in its economic paddock this year. In its winter forecast 2013 released today the body predicted that Turkey will...

Posted on 22 February 2013

2013 Predictions for the Turkish Property Market

Increased competition from foreign sellers will be a feature of the 2013 Turkish property market, as owners are continually hammered by the depression of the Euro and global financial crisis, the head of a Turkish real estate group has told the Hürriyet Daily News. “I expect a boost in real...

Posted on 16 February 2013

Turkey Implementing $5 Billion Smart Grid Plan

Turkey is planning to spend $5 billion on smart power grids during the next three years in an effort to boost network efficiency, but this plan should also boost ties with the US. It's been predicted that closer cooperation will develop between the Turkish government and energy companies, and the...

Posted on 12 February 2013

Demand for Clean Energy in Turkey Set to Increase

It's expected that demand for clean energy in Turkey will increase substantially over the next two years in spite of slowing economic growth. The deputy energy minister, Hasan Murat Mercan has estimated that Turkey needs to spend around $10 billion on generating new power each year for the next decade....

Posted on 08 February 2013

Turkey Announces Plans to Build Biggest Airport in the World

Turkey has recently announced its intention to build the best airport in the world in Istanbul. Once the €7 billion project is completed it will have an estimated capacity for 150 million passengers, and the project is worth around €7 billion. The tender for the project closes at the beginning...

Posted on 31 January 2013

Turkey to Resume Talks with France on Nuclear Power Plants

France and Turkey has agreed to resume their talks on nuclear energy, as Ankara has plans to build three nuclear power plants within the next five years. The French foreign trade minister, Nicole Bricq recently met with the Turkish energy Minister Taner Yildiz to discuss nuclear power projects. France is...

Posted on 26 January 2013