Turkey’s exports up 10.3 percent in 2012

Istanbul, 1 June 2012 - According to the Turkish Exporters Assembly,Turkey’s exports reached 11.8 billion USD in May 2012 up 7.3 percent from the same period in 2011.Turkeyexported 59.8 billion USD worth of goods to foreign buyers in the first five months of 2012, representing a 10.3 percent increase over...

Posted on 22 June 2012

Indian company to invest 150 million USD in Turkey

Istanbul, 30 May 2012 – India’s Polyplex Corp, a leading manufacturer of polyester film, has announced a 150 million USD investment in Turkey. According to Kapil Gupta, Polyplex’s Senior Vice President, “The plant will have capacity to produce 600,000 tons of polyethylene terephthalate per annum”, “Some 70 to 80 percent...

Posted on 22 June 2012

Turkish Airlines continues to grow

Istanbul 29 May 2012 - Turkish Airlines CEO, Temel Kotil, has set out his aims of building the airline into the biggest network of destinations, “Very soon we will become the largest network in the world". “The purpose is very clear: like the Silk Road, we are linking everywhere to...

Posted on 22 June 2012

Istanbul is in top 10 global convention centres

Istanbul, 28 May 2012 – According to the International Congress and Convention Association, Istanbul is now in the top 10 cities in the world for international exhibitions and congress centres ranking 9th behind Beijing, Rome and Brussels. In 2001 Istanbul was ranked 40th. Source: Invest in Turkey

Posted on 22 June 2012

Leading global technology giants line up for 8 billion USD contract in Turkey

Istanbul, 31 May 2012 - The Fatih project, Turkey’s nationwide education initiative to provide tablet PCs to every primary school students, has attracted attention of the global tech industry’s leading names for the 8 billion USD project. According toNihat Ergun,Turkey’s Minister of Science, Industry and Technology Minister, at least 30...

Posted on 22 June 2012

International credit agency praises Turkey’s new incentive scheme

Istanbul, 25 May 2012 - Fitch Ratings, the international credit rating agency, has praised Turkey’s newly announced investment incentive scheme aimed at reducing Turkey’s dependency on imports therefore reducing Turkey's international financial support. According to Fitch “It will focus mainly on sectors like energy, mining, the automotive industry and tourism,...

Posted on 22 June 2012

Turkish bus maker in deal with Indian company

Istanbul, 23 May 2012 - India's Hinduja Group commercial vehicle maker subsidiary Ashok Leyland has enter an agreement with the Turkish Utikar bus making company to manufacturer the upper chassis parts for a new intra and inter city bus for the MENA and European markets. Source: Invest inTurkey  

Posted on 22 June 2012

Turkish Unemployment Rate Falls into Single Figures

The unemployment rate in Turkey fell by 0.9% in March year-on-year, to reach 9.9%. In February the unemployment rate was 10.4%, according to figures released by the Turkish Statistical Institute. Unemployment in urban areas reached 11.6%, while unemployment in rural areas was just 6.4% during this period. The number of...

Posted on 22 June 2012

Turkey Gets an Upgrade from Moodys

Many analysts have been predicting that Turkey was on the verge of receiving another upgrade from the ratings agencies, and that day has finally come. Moody's have upgraded Turkey by one level from Ba2 to Ba1 putting them now just one level below investment grade by Moody's scoring. Turkey is...

Posted on 21 June 2012

GE to Invest $900 Million in Turkey in Next 3 Years

General Electric Company is due to invest $900 million in Turkey over the next three years. The money will go to sectors such as energy, health, aviation, and transportation and infrastructure,, according to an announcement by Economy Minister Zafer Caglayan. According to him the new investment is a mark of...

Posted on 15 June 2012