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Foreigners Purchase Record Amount of Property in Turkey in May

Many of you will remember our previous posts on the new Turkish property law removing the reciprocity requirement for foreign buyers. The last one we wrote was jubilantly titled The Law is Passed – More Foreigners Can Buy More Property in Turkey. In previous articles we have shared the consensus...

Posted on 18 July 2012

Turkish Ministry Announces $31 Billion Industrial Zones

The Turkish Minister for science, industry and technology, Nihat Ergun, recently announced the government's plans to establish two major industrial zones in the provinces of Zonguldak and Konya. The cost of these industrial zones is estimated to be around $31 billion.   The decision to establish them has been based...

Posted on 12 July 2012

Honda considers restarting motorcycle production in Turkey

Istanbul, 6 July 2012 - According to Hideto Yamasaki, Honda Turkey’s General Manager, Honda is investigating increases to its Turkish manufacturing plants in Gebze and Kocaeli as well as reopening its motorcycle manufacturing in Turkey. “Honda is considering to increase its production level in Turkey and the appreciating yen makes...

Posted on 09 July 2012

Turkey’s exports reach new records

Istanbul, 5 July 2012 - Recently released data from the Turkish Exporters Assembly shows Turkey’s exports reached 11.8 billion USD in June, an increase of 3.6 percent over the same period in 2011. Overall exports in the January to June 2012 period reached 72.9 billion USD, a increase of 11.2...

Posted on 09 July 2012

US giant diesel maker launches new Turkish factory

Istanbul, 4 July 2012 - Cummins, the leading US diesel engines and engine components maker, has launched its new diesel filter production facility in the Aegean Free Zone in Izmir on Turkey’s western coast. Commenting on the opening, Joseph Saoud, Cummins Filtration President, said “The selection of Turkey and Izmir...

Posted on 09 July 2012

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