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Category Archives: Turkey News

Working with Turkey will be very profitable says Turkish Prime Minister

26 September 2011, Turkey - Speaking from New York Turkey’s Prime Minister Recep Tayyip Erdogan said that businesses working with or investing in Turkey will benefit greatly from it. Erdogan said “We (Turkey) made many reforms, especially sector and company specific micro reforms, to increase Turkey’s competitive advantage in the world,...

Posted on 26 September 2011

Thirty nine new five star hotels in Istanbul

22 September 2011, Turkey – According to new report by Turkey’s TUROB (Touristic Hotels and Investors Association) hoteliers are flocking to Istanbul and currently there approximately 100 new hotels under construction in there. TUROB President Timur Bayindir said “The wave of new hotel investments in the city will add a...

Posted on 22 September 2011

S&P upgrades Turkish credit rating

21 September 2011 - The international credit rating agency S&P (Standard & Poor’s) has upgraded Turkey’s local currency rating to the investable rating of BBB-/A-3. Commenting on the upgrade S&P’s analysts Frank Gill and Leila Butt said “The local-currency upgrade reflects our view of continuing improvements in Turkey’s financial sector...

Posted on 21 September 2011

Volkswagen Group to increase manufacturing in Turkey

20 September 2011 - Germany’s MAN commercial vehicles manufacturer, part of Germany’s Volkswagen Group, has decided to make Turkey a research and development centre. MAN, which has been in Turkey for 45 years, is also increasing its bus manufacturing lines. During a recent visit to Turkey to celebrate the 45...

Posted on 20 September 2011

Ankara gets new Swedish H&M store

19 September 2011 - H&M the renowned Swedish clothing store opened its first Ankara store on Saturday, H&M's seventh store in Turkey. The first Ankara H&M concept store is located in the CEPA shopping mall, H&M will also be opening its second Ankara store on September 24th in the Gordion...

Posted on 19 September 2011

Tesco executive says Tesco may expand in Turkey

15 September 2011 - Tesco, UK’s leading grocery retailer has announced that it may buy local retail chains in Turkey to compliment its successful Turkish Tesco Kipa operation. Mr Mike Arnott, Director of Tesco Kipa said “We may consider acquiring some Turkish retail chains as we are open to all...

Posted on 15 September 2011

Turkey’s Foreign Direct Investment continues to climb

14 September 2011 - According to Mr Zafer Caglayan, the Turkish Economy Minister, Turkey’s FDI (Foreign Direct Investment) reached over 9 Billion USD in the 7 months to 31 July 2011 of which over 90% came from EU member states. This figures compares with 4.5 Billion USD for the same period...

Posted on 14 September 2011

Turkey’s GDP growth up

12 September 2011 – The latest figures from Turkstat (Turkish Statistical Institute) shows Turkey’s GDP increased to 203 Billion USD in the second quarter of 2011, a 8.8 percent increase over the same period in 2010, whereas the international finance markets had been expecting around 6.5 percent for Q2 in...

Posted on 12 September 2011

Turkish Government opens new trade offices in UK

6 September 2011 – Turkey is to open new offices in Birmingham and Edinburgh reflecting Turkey’s decision to boost exports and trade between UK and Turkey and encourage UK's investment into Turkey. Commenting on the new offices, Mr Yuksel Akca, Chief Commercial Counsellor at the Turkish Embassy in London, said...

Posted on 06 September 2011

INSEAD report puts Turkey ahead of the US for innovative exporting

5 September 2011 – In the annual report 'The Global Innovation Index 2011' produced by INSEAD, the leading French business school, Turkey has ranked 11th out of the 125 countries in the Innovative Products Exports section of the report. Commenting on the report, Baybars Altuntas (Chairman of Turkey’s Business Angels...

Posted on 05 September 2011