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Category Archives: Industry Sectors

Turkish bank teams with US money transfer firm to make sending money around the world simpler

Sending money between one of Turkey’s leading banks and an overseas destination has got easier thanks to the bank now providing a global money transfer service in all of its branches. Turkish bank DenizBank now offers MoneyGram’s money transfer service in all of its branches nationwide. “Now that we have...

Posted on 09 September 2013

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

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 Set To Expand Its Pharmaceutical Business

The Turkish pharmaceutical industry is expected to expand substantially during the next few years, and sales of drugs could reach $23.3 billion by 2023, up from just $5 billion in 2011. These figures come from a report by Pricewaterhouse Coopers which was commissioned by the pharmaceutical industry, but are based...

Posted on 26 October 2012

Turkey’s Eastern Provinces Gain $6 Billion in Investment

The eastern provinces in Turkey have managed to secure $6 billion in investment during the past four months, thanks to the government’s industrial incentives program, according to a report from the Science, Industry and Technology Ministry. The government plan has divided the country into six regions, giving the least developed...

Posted on 19 October 2012

Turkish Exports Continue to Grow Strongly in September

At 11.4 billion USD Turkish exports increased by 7.4% year on year in September. The year-to-date performance is even more impressive, with 111.4 billion USD taking us up 12.1% compared to the same period in 2011. Par for the current course automotive exports remained at the top of the tree...

Posted on 18 October 2012

Turkish Unemployment Falls to New Lows as FDI Pours In

According to the latest data from Turkstat, 8.2% of the working Turkish population was out of work as of May, the lowest level since 2005. As the Turkish economy continues to perform extremely well, the country continues to attract increasing amounts of foreign direct investment, which set new records at...

Posted on 16 August 2012

Turkish exports reach a new high

3 January 2012, Ankara - Despite the global downturn Turkey’s 2011 exports reached an all time high exceeding 2010 by 18.2 percent and amounting to nearly 135 billion USD. According to data from TIM (the Turkish Exporters Assembly) the manufacture of motor vehicles showed the largest sector for exports amounting...

Posted on 03 January 2012

Turkish Banking Shares Surge on Central Bank Announcement

Turkish banking shares saw a three-day losing streak broken into a surge after the central bank cut reserve requirements on lira liabilities, which freed up capital for increased lending. The banking shared index rose 3.3% at the close, almost completely reversing the previous day's 3.5pc fall. The biggest gain was...

Posted on 28 October 2011