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Category Archives: General News

Celebrated hotel chain honours Istanbul with new opening

One of the world’s most iconic hotel brands, Raffles, is coming to Istanbul, applauding the city as “a rising star of global tourism” and Turkey as “a rising star of the global economy”. Raffles Istanbul will open on 1st September 2014 in the heart of the Zorlu Center, a new...

Posted on 01 May 2014

Turkey’s interest rate hike stalls Lira’s fall, fuelling domestic rental market

Developers in Istanbul are reporting a hike in sale to foreign investors during December 2013, fuelled by investors taking advantage of a slump in the value of the Turkish Lira against other major currencies. The recent drop in the value of the Lira against the US Dollar and Sterling has...

Posted on 07 February 2014

Why Turkey’s MINTy taste makes it an emerging economic powerhouse

Turkey has been named one of four emerging economic giants in the world by a leading economist at investment bank Goldman Sachs, boosting its appeal to foreign property investors during 2014. Economist Jim O’Neill, who created the BRIC acronym which in 2001 identified Brazil, Russia, India and China as the world’s...

Posted on 06 January 2014

Visitors to Turkey will need to go on-line for their visas in 2014

Travellers to Turkey, including second homeowners, are being advised that from Spring next year they will need to go on-line to get their visa for entry into the country. Earlier this year, Turkey introduced its new e-visa system, which allows for applications and visa fees to be paid online in...

Posted on 17 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 gets the thumbs up from a Hollywood superstar

Giant of the Hollywood blockbuster Russell Crowe, who starred in the movie Gladiator, has been in Turkey confirming arrangements for the filming of his next film and whilst there he revealed how much he liked the country. In his film, Crowe will bring to the big screen the story of...

Posted on 25 October 2013

Turkey’s European Union membership back on the agenda in Brussels

Turkey could be about to take a step closer to joining the European Union (EU), after the EU Council confirmed that next month it will resume talks with Turkey about its membership of the 28-nation EU bloc, following a three-year break from discussions. Recent talks on Turkey’s membership were postponed...

Posted on 22 October 2013

Turkey bucks the trend with bullish commercial property market

The first half of 2013 has seen Turkey’s commercial property market record strong growth and attract increasing investment, according to a report by international property consultancy Jones Lang LaSalle. The investment market has gained significant liquidity with a few major transactions completed in the past six to eight months, said...

Posted on 20 August 2013

Istanbul Olympic Bid Picking Up Pace Says Official

There is "overwhelming" domestic support for Istanbul's 2020 Olympic bid according to Hasan Arat, chair of the Istanbul 2020 Bid Committee, adding that the body plans to promote the city for the games right up unti the IOC makes its decision September 7. With Istanbul still in the running against...

Posted on 26 July 2013

Turkish Budget Deficit Collapses in Q1 as Turkey Goes Private

More positive news for the Turkish economy as it continues to become the best and brightest in Europe. According to the latest data released at a press conference by Finance Minister Mehmet Şimşek, the Turkish budget deficit has fallen 86% during the first quarter courtesy of a surge in revenue...

Posted on 24 April 2013

Turkish Interest Rates Lowered Again

Guarding against Lira appreciation the Turkish central bank chopped a further 50 basis points off its benchmark interest rate today and also cut overnight borrowing and lending rates. The bank cut the one-week repo policy rate from 5.5%to 5%, the borrowing rate to from 4.5% to 4% and the lending...

Posted on 16 April 2013

Turkey Increases Residency for Foreign Property Buyers

Turkey is one of the strongest and most stable economies in the world, and its property market is also experiencing strong, stable and sustainable growth, so it is easy to understand why more and more foreigners are looking to buy property in Turkey. But Turkey isn't resting on its laurels,...

Posted on 13 April 2013

Istanbul Playing to its Strengths in Olympic Bid Slogan

Bridge Together. That is Istanbul's slogan for its 2020 Olympic bid.  According to experts the slogan is aimed at highlighting the city's unique geographic location straddling Europe and Asia. Youth and Sports Minister Suat Kılıç revealed the slogan yesterday, which was day-two of a four-day assessment of Istanbul's bid by the International...

Posted on 27 March 2013

Full Extent of Turkey’s Shale Gas Reserves Unknown

It is certainly good news that Turkey has considerable deposits of shale gas, as foreign energy imports account for a major part of the current account deficit. Extracting the shale gas could mean Turkey will finally enjoy the competitive energy prices. In 2011 the US government released its analysis of...

Posted on 25 January 2013

Turkey to Use Human Rights Law to Try to Recover Ancient Artifacts

Turkey has a rich archaeological history, but many of its ancient artifacts are owned by museums in the West, but now Turkey is planning to try to recover many of these relics through using the human rights law. It is to file a lawsuit in the European Court of Human...

Posted on 19 January 2013

Turkey Hopeful of Receiving Better Ratings

Turkey is hopeful of receiving better ratings from international credit evaluators, as its foreign trade deficit fell 31% in October compared to October 2011. Figures from the Turkish Statistical Institute show exports grew by 11.6% in October year on year, while imports declined by 5.6% during the same period. It's...

Posted on 07 December 2012

Istanbul’s New Airport to Be Built on Old Coal Mines

It was recently announced during a parliamentary session on next year's budget that Istanbul's new airport, which will be the city's third, will be built in northern Istanbul. According to the transport minister, Binali Yildrm, it is to be constructed on top of old coal mines that will be filled...

Posted on 23 November 2012

Turkish Ministry Announces $31 Billion Industrial Zones

The Turkish Minister for science, industry and technology, Nihat Ergun, recently announced the government's plans to establish two major industrial zones in the provinces of Zonguldak and Konya. The cost of these industrial zones is estimated to be around $31 billion.   The decision to establish them has been based...

Posted on 12 July 2012

Turkey to Sign Immigration Treaty for Visa-Free Talks

Turkey is hopeful of being able to secure visa free travel for its citizens to Europe within the next few years. If this happens it might give new life to relations between Turkey and the EU. A decision was recently taken by the European Union to open up talks with...

Posted on 29 June 2012

Turkey Now 6th Top Tourism Destination in the World

Earlier this year we reported that Turkey had finally crossed the 30 million visitor threshold in 2011, a target set for 2010 during the boom years. But that wasn't the only great tourism achievement for Turkey last year. According to a new report from the United Nations World Tourism Organization,...

Posted on 28 June 2012