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Izmir Port to Benefit from Expansion Plus New Cruise Marina

Izmir port is to be rehabilitated and revitalised by the state railway authority in an effort to increase its capacity and revenue. In a statement released this week the authority said that because of a lengthy privatisation process, the port has lacked investment for some time. The privatisation process, which...

Posted on 07 April 2012

Turkey Renews Call on EU to Lift Visa Requirements

The chief negotiator and European Union Minister for Turkey, Egemen Bagis, has once again called on EU executives to lift visa requirements for Turkish citizens. Bagis has formally written to European commissioners and the European Parliament as well as the European media, members of non-governmental organisations and think tank organisations,...

Posted on 05 April 2012

Unilever to build a new production plant in Turkey

Istanbul, 23 March 2012 – Unilever is set to invest 100 million USD for a new production plant in Aksaray, in central Turkey. The new plant will increase Unilever’s ice cream brand ‘Algida’ production and is expected to come on stream by May 2013. Source: Invest in Turkey

Posted on 04 April 2012

Danish Bank expansion plans includes Istanbul

Istanbul, 22 March 2012 - Saxo Bank, the Danish specialist in online trading and investment bank, is looking to set up in Turkey. CEO Lars Christensen said “The Turkish market looks very attractive in the coming years, given the country’s impressive growth rate” adding “Saxo Bank has recently opened offices...

Posted on 04 April 2012

Italian bank & financial company applies for new banking license

Istanbul, 21 March 2012 - According to sources in the Board of the Banking Regulation and Supervision Agency of Turkey, Intesa Sanpaolo, one of Italy’s largest bank and financial services company, has applied for a new Turkish bank operating license. Intesa Sanpaolo has tried to enter the expanding Turkish banking...

Posted on 31 March 2012

Ford breaks ground for new factory in Turkey

Istanbul, 20 March 2012 - As part of its 1 billion USD investment, Ford Otosan broke ground on its third automotive manufacturing factory at Yenikoy in North West Turkey. Once the factory is completed in 2013 it will be home to a new light commercial vehicle. At the ground breaking...

Posted on 31 March 2012

Turkish Airlines offers more direct flights

Istanbul, 19 March 2012 - Turkish Airlines now offers direct flights to 189 destinations from its hub at Ataturk International Airport Istanbul which 15 more than Lufthansa from its Frankfurt hub. According to the airline tracking portal Anna.aero over the 10 years to 2010 Turkish Airlines tripled the number of...

Posted on 31 March 2012

Turkey’s unemployment down to under 10 percent

Istanbul, 16 March 2012 – According to data recently released by the Turkish Statistical Institute the unemployment rate dropped to 9.8 percent in December 2011. According to the data the number of employed people was 23.6 million in December 2011. Source: Invest in Turkey

Posted on 31 March 2012

Turkey’s FDI reaches 892 million USD in January 2012

Istanbul, 15 March 2012 – According to data recently released by Turkey’s Ministry of Economy, Turkey’s Foreign Direct Investment (FDI) was up over 70 percent in the first month of 2012 (January) compared with the same period in 2011. The January figure reached 892 million USD which included 150 million...

Posted on 31 March 2012

Economic Crisis Improves Relations Between Turkey and Greece

Historically relations between the Greek and Turkish nations have always been a little tense, but there is speculation that Greece’s recent economic woes may lead to something of a rapprochement between the two countries. Greece was quick to send aid to Turkey after the earthquake in the eastern province of...

Posted on 29 March 2012