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Natural Gas Reserves Found on Turkey’s Black Sea Coast

It was recently announced that natural gas deposits have been found on Turkey's Black Sea coast. This is an extremely important development as it is one of Turkey's first natural gas reserves. The Turkish Petroleum Corporation (TPAO) was in charge of the drilling operation that discovered the key natural gas...

Posted on 21 September 2012

New Incentives Bring New Wave of FDI to Turkey

The latest round of investment incentives has paid off in Turkey, as according to reports another wave of major investment is headed for the strategically important emerging market. İlker Aycı, President of the Investment Support and Promotion Agency of Turkey (ISPAT) told a press conference that a big North American...

Posted on 20 September 2012

Foreign direct investment into Turkey continues apace

Istanbul, 13 September 2013 - According to recently released data foreign direct investment to Turkey was 8.9 billion USD to the end of July 2012, of which over 75 percent originated from Europe with the UK being the largest with nearly 2 billion USD. Commenting on the performance, Zafer Caglayan,...

Posted on 18 September 2012

South Korean bank to open office in Turkey

Istanbul, 11 September 2012 - Speaking at a recent press conference, Yun Yong-ro, CEO of Korea Exchange Bank, said the bank is considering applying for banking licence in Turkey, If it goes ahead it will be the South Korea’s first bank to establish a bank in Turkey. Korea Exchange Bank...

Posted on 18 September 2012

Turkey Discusses the Trans-Caspian Pipeline

Senior officials from Azerbaijan, the European Union, Turkey and Turkmenistan recently met to discuss the Trans-Caspian gas pipeline that will deliver gas to Europe through Azerbaijan and Turkey. The main aim of the project is to reduce Europe's dependence on Russian gas, and Turkmenistan is also trying to diminish its...

Posted on 14 September 2012

Turkey to Become EBRD’s Second Biggest Investment Destination

The European Bank for Reconstruction and Development (EBRD) plans to invest 1 billion euros ($1.3 bln) in Turkey next year, predicting demand for finance will grow, especially in the agribusiness and renewable energy sectors. According to Suma Chakrabarti, the bank's president Turkey is set to overtake the Ukraine as its...

Posted on 13 September 2012

Shale gas exploration starts in Turkey

Istanbul, 5 September 2012 - TPAO,Turkey’s state owned oil company, in conjunction with Shell has begun exploring for shale gas in the Anatolian province of Turkey. At a recent meeting with Taner Yildiz, Turkey’s Minister of Energy, Shell CEO Peter Voser said “Shell is pleased to work with TPAO on...

Posted on 12 September 2012

Turkish tractor manufacturer awarded first green ISO certification in Turkey

Istanbul, 3 September 2012 - Turk Traktor has become the first company in Turkey to be awarded ISO 14064 Greenhouse Gas Emissions quality certification and ISO 50001 Energy Management certification. Turk Traktor is a joint venture between Koc Holding, the leading Turkish conglomerate, and Italy’s CNH which was formed in...

Posted on 11 September 2012

Turkish Economy Soldiers on on Diversified Export Markets

Analysts predict that Turkey will have avoided the slowdown seen by most western European economies in the second quarter, as firms diversified their exports away from Europe into Africa and the Middle East to generate, which also helped to bring about a 12%+ growth in exports for the first seven...

Posted on 08 September 2012

Arabs Flocking to Turkey and Spending Heavily

Not a year since the last report of record Arab tourism into Turkey we have another bumper report to share. According to the latest reports, the number of Arab tourists entering Turkey increased by 71% in the first six months of this year compared to the previous year. The rise...

Posted on 07 September 2012

New Turkish industrial complex project to start in 2013

Istanbul, 30 August 2012 – The new Filyos Valley industrial complex at Caycuma in the western Black Sea area is set to begin in 2013. The complex will consist of a port, industrial areas, including iron-steel foundries, shipbuilding facilities and cement plants, power plants and dams. Commenting on the project...

Posted on 04 September 2012

Fitch Ratings Says Turkey on Track for Soft Landing

Fitch Ratings has just published a report on the Turkish economy and says the country has made good progress in returning to a sustainable growth rate while reducing the rate of inflation and the current account deficit. However Fitch warns the Turkish economy is still vulnerable to the global financial...

Posted on 31 August 2012

Istanbul Planners Press Ahead with 2020 Olympics Bid

Planners in Istanbul are already pressing ahead with preparations for the 2020 Olympics, as the city is currently one of the final three choices for these games. This has prompted numerous questions into where the venues could be located, and how Istanbul's infrastructure will need overhauling to cope with the...

Posted on 30 August 2012

UK mobile telephone operator looking at Turkish market

Istanbul, 29 August 2012 – UK’s Virgin Mobile, part of Richard Branson’s Virgin Group, is looking at Turkey as part of its expansion plan for Eastern and Central Europe. Virgin Mobile has recently launched a virtual mobile telephone network in Poland and according to Virgin’s CEO for the region, Kristian...

Posted on 29 August 2012

Global automakers increasing investments in Turkey

Istanbul, 28 August 2012 – Auto makers, Hyundai and Ford Motors, are increasingly depending on Turkey for its research & development and manufacturing. According to Umit Karaaslan, Hyundai’s Director General inTurkey, the company is about to increase its investment in Turkey - “Preliminary studies on setting up an R&D centre...

Posted on 28 August 2012

Fitch Will Upgrade Turkey If…

Fresh hopes that Turkey will receive an upgrade are the news of today. But this time the hopes come straight from the horse's mouth as it were, and they are more goals than hopes. In a report issued this week, Fitch said that it will upgrade Turkey from BB to...

Posted on 24 August 2012

30 new private hospitals to be opened in Istanbul

Istanbul, 24 August 2012 - Due to increasing demand information released from Turkey’s Private Hospitals and Health Institutions Association shows  50 new private hospitals are expected to be open by the end 2012. Reforms by Turkey’s Social Security Institution which allows patients to make free of charge use of private...

Posted on 24 August 2012

Japanese companies eying up Turkey

Istanbul, 22 August 2012 – In a recent Anatolia news agency interview, Yo Takahashi, the Japanese embassy attaché, said "The Turks and the Japanese are really very close to each other. But there are still many steps to be taken to bring our economic relations to the level we wish,...

Posted on 23 August 2012

Rents Have Almost Doubled in Bodrum, Fethiye and Marmaris

I feel a bit hard-done-by sometimes. Before the crash practically anyone could pick a figure out of the air for a rental yield or potential capital appreciation for any part of the world and be taken at face value, but now, when I use my expertise and experience of the...

Posted on 23 August 2012

Investment in Turkey keeps growing

Istanbul, 16 August 2012 - According to Turkey’s Economy Minister Zafer Caglayan “Turkey is like a flower garden in attracting FDI”. Turkey’s FDI reached 8.2 billion USD in the first six months of 2012, an increase of 21 percent over the same period in 2011. “These figures are a proof...

Posted on 20 August 2012