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Fitch Affirms Turkey at BB+

Fitch Ratings has affirmed Turkey's rating at BB+ one step away from investment grade, despite revising the country's long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Positive. The agency also affirmed Turkey's Short-term foreign currency IDR at 'B' and Country Ceiling at 'BBB-'. "The revision of...

Posted on 23 November 2011

Reciprocity Restrictions to be Removed in 2012, Boosting Foreign Sales

The Turkish government is expected to remove the reciprocity restrictions on its property market in 2012. The draft law is to be polished off by the Environment and Urbanisation ministry before being submitted to the national parliament later this month. The aim of the law would be to open up...

Posted on 19 November 2011

Foreigners Buying More Property in Turkey

The latest data from the Turkish Land Registry Director shows that some 123,,000 foreigners own 113,687 immovable properties in Turkey. The data shows that resort properties are still the most popular with foreigners, and they prefer established cities like Antalya, Mugla and Aydin ,as well as Istanbul and Bursa. The...

Posted on 18 November 2011

Turkish Airlines Istanbul Ataturk Now Most Diverse Hub in Europe

From its hub at Istanbul Ataturk, Turkish Airlines now offers a wider range of non-stop flights than any other carrier does from a single airport. Turkish Airlines now flies non-stop from Ataturk to 172 destinations around the world, leaving its nearest competitor Lufthansa some way behind flying to 158 destinations...

Posted on 10 November 2011

British Airways Looks to Increase Istanbul Flights

British Airlines is looking to further increase the number of transit flights to and from Istanbul, according to a manager with the firm. Gavin Halliday, who is the general manager of the firm's Europe and Africa operations said: "Not only has the number of people visiting Turkey increased, the number...

Posted on 03 November 2011

Turkish Banking Shares Surge on Central Bank Announcement

Turkish banking shares saw a three-day losing streak broken into a surge after the central bank cut reserve requirements on lira liabilities, which freed up capital for increased lending. The banking shared index rose 3.3% at the close, almost completely reversing the previous day's 3.5pc fall. The biggest gain was...

Posted on 28 October 2011

Turkish Tourism Looks Set for 30m Target

According to the latest data tourism to Turkey is continuing to grow strongly. The Culture and Tourism Ministry has just released data on the first nine months of this year, showing tourism up 10.67% compared to the same period last year. This is slower than the 12% year on year...

Posted on 27 October 2011

World Bank Plans to Boost Investment in Turkey

According to a top World Bank executive a new proposed Country Partnership Strategy will generate a considerable amount of investment for Turkey. "The Turkish government and World Bank have had talks in participating in CPS," Ulrich Zachau, the World Bank Turkey director, told Reuters in Ankara. The strategy is to...

Posted on 22 October 2011

Turkey Property Boom Looks Set to Continue/Expand

The fact that the Turkish property market is booming this year is in little doubt, but there is increasing evidence that even with its rapid growth of late, that it could still be accelerating further. According to the latest data from the Turkish real estate investing partners association in conjunction...

Posted on 13 October 2011

Turkish Government Commits to Increasing Foreign Sales

Many reports have indicated strong growth in sales of Turkish property to foreigners, not least a report by the Association of Real Estate Investing Partners GYODER, which recorded a 40% growth last year compared to the year before. Never the less, the government seems increasingly committed to making sure the...

Posted on 12 October 2011

Jet2 Expands Turkey Coverage with New Manchester-Istanbul Route

Another day another dollar and another week another new flight for Istanbul airports. This week we see the announcement of another new budget flight linking Manchester in the UK and Istanbul from growing operator Jet 2.com. This is Jet2.com's first flight into Istanbul, all though it does have substantial coverage...

Posted on 07 October 2011

Turkey Leading Growth in Mergers and Acquisitions

Further proof that Turkey is one of the hottest emerging markets in the world has emerged in new research by Bloomberg on global mergers and acquisitions. According to the research Turkey is now well above the BRIC nations in terms of mergers and acquisitions as more deals are signed in...

Posted on 06 October 2011