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Turkey Launches First Locally Built Research Ship

Turkey recently launched its first national research ship. Its purpose is to help protect marine ecosystems and enable surveillance and research on a number of undersea related issues. One of these is exploring for oil. The project is significant because it proves Turkey is capable of building such ships, and...

Posted on 21 February 2013

Turkey Presenting Draft Action Plan to EU

According to EU Minister Egemen Bagis, Turkey is due to present a draft action plan concerning the opening of a new chapter in its bid for European Union membership. Apparently it has fulfilled the benchmarks for the opening of a new negotiation chapter which will be presented to the EU...

Posted on 19 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

Istanbul’s Ancient City Walls May Be Restored as Tourist Draw

Istanbul's ancient city walls were first built by Constantine the great, and were originally 26 km long, but today just 7 km remain. In the past these walls haven't been adequately maintained, and now need protection quite urgently. It's thought if they were properly restored they could prove to be...

Posted on 14 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 Doesn’t See Shanghai Group as Alternative to EU

Turkey is looking at joining the Shanghai Cooperation Organisation (SCO), but according to the Turkish president, Abdullah Gul, this is not as an alternative to gaining full membership to the EU. Turkey is still pursuing negotiations to join the EU, and is looking to successfully conclude accession talks. The question...

Posted on 07 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

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

Abu Dhabi Owned Company Invests in Turkish Coal Mines

Taqa, an Abu Dhabi owned company has recently signed a coal plant deal with Turkey that could be worth $12 billion. The agreement was signed at the beginning of the month and allows Taqa to develop Turkish coal mines. The company will work in conjunction with the Turkish government owned...

Posted on 17 January 2013

Turkey Keen to Boost Trade Volume with Africa

Turkey is keen to boost its trade volume with Africa, and has set a target figure of $50 billion by 2015. The Turkish Prime Minister, Recep Tayyip Erdogan, accompanied by a delegation of 250 businessmen, recently toured Niger, Gabon and Senegal. The trip is all part of the Turkish government’s...

Posted on 11 January 2013

Fears of a Property Bubble Forming in Turkey Are Unfounded

There have been quite few concerns that a property bubble could form in Turkey, leading to the kind of problems seen in Spain. However experts don't think this is very likely to happen due to a number of different factors. Recently Turkish banks have been reducing interest rates on home...

Posted on 10 January 2013

More Travel Agents Choosing to Focus Their Attention on Turkey

Travel agencies are always seeking new destinations, and the economic downturn in Europe has meant the popularity of traditional holiday countries such as Italy, Greece and Spain has declined, and Turkey is increasing in popularity. Rising unemployment figures and economic cutbacks have meant many people have less money to spend...

Posted on 05 January 2013

Turkish Foreign Trade Deficit Declined in November

According to figures from the Turkish Statistical Institute, Turkey's foreign trade deficit fell by 5.5% in November, declining from $7.57 billion to $7.16 billion compared to November 2011. In spite of the decline appearing to be quite significant, it didn't impress investors as it was below market expectations. Turkish exports...

Posted on 04 January 2013

More on the Turkish Airlines Istanbul Global Mega Hub

We covered the rapid expansion of Turkish airlines, and of its Istanbul Ataturk airport base into a Global Mega Hub yesterday, and included some new routes added by the airline past and upcoming future, but as Anna Aero has also just covered a full feature on upcoming routes to be...

Posted on 14 December 2012

Turkish Airlines Expanding Global Mega Hub in Ataturk

According to a new (and very interesting) report from aviation-industry analysis website Anna.Aero, Turkish airlines is successfully turning Istanbul into a global mega [travel] hub, as part of President and CEO, Dr Temel Kotil's aim of making it the largest airline on earth. The report goes on to explain the...

Posted on 13 December 2012

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

Turkey Talking Energy with Russia

The Russian president recently visited Turkey as the two countries are looking to increase bilateral trade from its current level of $32 billion to around $100 billion. This is an ambitious target, and is largely dependent on the Turkish energy imports. During the first 10 months of this year Russia...

Posted on 06 December 2012