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Category Archives: Turkey News

EU Commission increases Turkey’s economic forecasts

13 May 2011.  In the recent released EU Commission spring 2011 economic forecast the Commission praised Turkey’s performance by saying "Turkey's fiscal consolidation in the past decade is an impressive success story." The EU Commission report went on to say "in the wake of the 2001 financial crisis, the government...

Posted on 13 May 2011

Raffles to open new luxury hotel in Istanbul

12 May 2011 – Raffles the luxury hotel group has announced it is to open a new 180 room hotel in Istanbul by the end of 2012. The hotel will be situated in the new Zorlu Centre on the European side of Istanbul. The Zorlu centre, which is under construction,...

Posted on 13 May 2011

Industrial output in Turkey increases by over 10 percent

10 May 2011 Turkey’s year on year industrial output figures from TurkStat (Turkish Statistical Institute) shows March 2011 figures compared with March 2010 have increased by 10.4 percent. The data also shows other sectors increases with mining up by 4.5 percent and electricity, gas, etc up 11.9 percent. Source –...

Posted on 10 May 2011

Turkish borrowing cost decreases

9 May 2011 The Turkish Treasury in Ankara announced that it has sold approximately 2.4 Billion USD (3.7 Billion TL) of lower yielding three-year fixed-rate bonds, more than twice the amount sold in April. Turkey is looking to reduce its borrowing costs as the Turkish central bank keeps interest rates...

Posted on 09 May 2011

Turkey’s car and van sales up by 64 percent this year.

5 May 2011 Figures released by ODD (Turkey's Automotive Distributors Association) show car and light vehicle unit sales increased from 157,982 to 259,182 in the first four months of 2011 – a 64 percent increase on an annual basis. According to the report, car sales increased by 70 percent during...

Posted on 06 May 2011

International private equity group invests in Turkish hospital group

5 May 2011 - A group of international private equity investors have agreed to invest 140 Million USD in Universal Hospitals Group, one of Turkey’s largest hospital and healthcare providers. The investment will enable Universal Hospitals to increase its hospital network to 18 in 12 Turkish cities including Istanbul. Source...

Posted on 05 May 2011

April’s exports reach new Turkish record

2 May 2011 Recently released figures by TIM (the Turkish Exporters Assembly) show Turkey’s exports in April rose by 25 percent to nearly 12 Billion USD, an all time high. Turkey’s overall export performance for the first 4 months of 2011 totalled over 43 Billion USD and are firmly on...

Posted on 04 May 2011

Turkish Airlines aims to be one of the top 10 airlines in the world

3rd May 2011 Turkish Airlines aims to be one of the world’s top ten airlines by 2023, the year which will coincide with the 100th anniversary of the founding of the Republic of Turkey. Speaking recently, Mr Hamdi Topcu, the Chairman of Turkish Airlines, said "We want Turkish Airlines to...

Posted on 03 May 2011

Seven new airports in Turkey by 2013

Date 28/04/11 DHMI in Turkey (The General Directorate of State Airports Authority) has announced it is finalising the construction of 7 new airports by the beginning of 2013. Orhan Birdal, DHMI General Manager, said DHMI intends to open 4 of the new airports by the end of 2011 with the...

Posted on 28 April 2011

Turkey on track to exceed pre-crisis export levels

Date 28/04/11 At the First Trade Counsellors Conference in Ankara, Mr Zafer Caglayan, Turkey’s Foreign Trade Minister, announced Turkey’s exports are on target to reach 132 Billion USD before the end of 2011 noting Turkey’s exports were already 41 Billion USD in the period from 1st January to 22 April....

Posted on 28 April 2011