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Turkey’s Ford Otozan now exporting engineering services

Istanbul, 3 July 2012 - Ford Otosan, the Turkish-US joint venture,  is now making its engineering services to the whole of Ford Group with the “Made inTurkey” label. According to Haydar Yenigun, the company’s Director General, the JV’s Gebze Engineering Centre exported services worth 50 million USD last year.  Commenting...

Posted on 09 July 2012

Turkey’s economy grows 10 quarters in a row

Istanbul, 2 July 2012 - Newly released data from the Turkish Statistical Institute shows  Turkey’s economy grew by 3.2 percent in Q1 2012 making it the 10th quarter in a row and underlining Turkey’s economic performance. With the Turkish economy forecasted to grow 4 percent for the whole of 2012...

Posted on 09 July 2012

United Airlines and Turkish Airlines Launch Routes in July

US carrier United Airlines opened July a new flight into Turkey, connecting its New York Newark, NJ (EWR) hub with Istanbul Atatürk (IST) the hub of its Star Alliance partner Turkish Airlines. Flights on the new route operate daily with 183-seat 767-300ER aircraft. Indirect competition at JFK comes from Turkish...

Posted on 06 July 2012

Saudi Prince Enjoying the Delights of Bodrum in his Yacht

We have just learned that a Saudi prince (we don't know who as yet) is cruising in his Yacht off the coast of Bodrum, perhaps as a precursor to buying a property in the area, as Turkey has recently relaxed laws paving the way for Arabs to be allowed to...

Posted on 04 July 2012

South Korean group to invest in Turkey

Istanbul, 28 June 2012 - The South Korean group LG Corp is looking to set up in Turkey according to Calvin Cho, LG Turkey President. “LG has been mulling production in Turkey for a long time. The new investment incentives are very encouraging in this regard” said Cho. According to...

Posted on 29 June 2012

Turkey to Sign Immigration Treaty for Visa-Free Talks

Turkey is hopeful of being able to secure visa free travel for its citizens to Europe within the next few years. If this happens it might give new life to relations between Turkey and the EU. A decision was recently taken by the European Union to open up talks with...

Posted on 29 June 2012

Turkey Now 6th Top Tourism Destination in the World

Earlier this year we reported that Turkey had finally crossed the 30 million visitor threshold in 2011, a target set for 2010 during the boom years. But that wasn't the only great tourism achievement for Turkey last year. According to a new report from the United Nations World Tourism Organization,...

Posted on 28 June 2012

British private equity company takes major stake in Turkish security firm

Istanbul, 27 June 2012 - Cinven, a London based private equity firm, has purchased a majority interest in Pronet, a leading Turkish security solutions provider. The purchase is expected to be completed this summer. Pronet was founded in 1995 and has over 80.000 active alarm systems in place. Source: Invest...

Posted on 27 June 2012

Turkey now 6th most popular tourist destination in the world

Istanbul, 26 June 2012 - According to the World Tourism Organization’s “Tourism Highlights 2012” report Turkey has now replaced Britain as the 6th most popular tourist destination in the world. Turkey has seen its tourism steadily increase and intends to be in the world’s top 5 tourism destinations by 2022....

Posted on 27 June 2012

World Bank Group to invest 2 billion USD in Turkey

Istanbul, 25 June 2012 - According to Lars Thunell, Executive Vice President and CEO of the International Finance Corporation (part of the World Bank Group), International Finance Corporation plans to invest 2 billion USD in Turkey between 2012 and 2015. Announcing the investment Thunell said “Turkey’s economy has proven its...

Posted on 27 June 2012