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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

Turkey Gains Another US Supporter

Turkey's economic performance and the way it is holding itself of late (becoming a regional power) continues to make it more and more friends in very high places. Economic problems aside, the US is still the world's one true superpower, and Turkey continues to bring attention and praise from the...

Posted on 14 June 2012

Erdogan Set to Make Good on New City Promise

The Turkish Prime Minister, Recep Tayyip Erdogan promised as part of his Parliamentary campaign last year, to create a new city. The city is being planned for the northern coast of Istanbul, and is expected to help boost Istanbul's economy. Apparently the government has already begun work on the plan...

Posted on 09 June 2012

Turkey Accepted As SCO Dialogue Partner

Turkey has been accepted as a dialogue partner in the Shanghai Cooperation Organisation. You may not have heard of it, but it is becoming one of the most influential political/military groupings in the world -- consider it the rising NATO of Asia, with 6 members China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan...

Posted on 08 June 2012

Turkey’s Burgeoning Health Tourism Industry Reaches New Heights

Around 130,000 people visit Turkey every year to receive healthcare, and Turkey is well on its way to becoming an important health tourism destination. Another 250,000 visit the country for thermal tourism, as well as rehabilitation services and services for the elderly. Burgeoning tourism sectors include retirement homes and communities,...

Posted on 01 June 2012

EBRD to Open Ankara Office as it Increases Investment in Turkey

The European Bank for Reconstruction and Development has paid another tribute to the investment potential of Turkey. The bank announced yesterday that it will open a new office in the Turkish capital Ankara. The EBRD has invested some 1.8 billion Euros into Turkish projects over the last three years since...

Posted on 31 May 2012

Japan’s giant Sumitomo to invest in Turkey

Istanbul, 22 May 2012 - Japanese conglomerate Sumitomo has announce a new Turkish joint venture under the name of "Sumisertmetal". The company has set aside an initial budget of 20 million USD to establish its sales network of industrial cutters and drills according to Sumisertmetal CEO, Edip Bayizitlioglu with plans...

Posted on 28 May 2012

Hyundai plans new investment in Turkey

Istanbul, 21 May 2012 - Hyundai Turkey has rolled its new i20 SuperMini from its Izmit factory in western Turkey. South Korea’s leading car maker has also announced an investment of 600 million USD to double its production from 100,000 to 200,000 vehicles per year in Turkey. The new investment...

Posted on 28 May 2012

Germany’s Bosch is to increase investments in Turkey

Istanbul, 17 May 2012 - Turkey’s economic performance has meant that Bosch Turkey has increased its workforce by some 1,200 workers and increased company’s sales by 17 percent to 2 billion Euros. Bosch Turkey now plans to invest another 300 million Euros in addition to the 500 million Euros the...

Posted on 28 May 2012