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Turkey’s unemployment down for second month running

Istanbul, 16 February 2012 - The Turkish Statistical Institute has announced that for the second month in a row the Turkish unemployment rate has fallen. The rate for November 2011 fell to 9.1 percent which also compares with 11 percent for November 2010. The total number of unemployed is just...

Posted on 17 February 2012

BT to Double Turkish Investment Create Global Satellite Hub

British Telecom has announced sweeping plans to make Istanbul not only a regional hub for its business (along with Dubai and Johannesburg, South Africa), but also a "Global Center of Satellite Excellence", according to aid Luis Alvarez, president in charge of Europe, Middle East, Africa and Latin America. Speaking at...

Posted on 17 February 2012

Turkish Airlines Starts Year with More New Flights

[caption id="attachment_12484" align="flwp" width="300" caption="A Turkish Airlines A330"][/caption] Turkish airlines finished 2011 with a big array of new flight routes, and has started 2012 in the same way. At the back end of last year Turkish airlines made the headlines for being quick to resume flights into Libya as soon...

Posted on 16 February 2012

Turkey’s foreign direct investment up 74 percent

Istanbul, 15 February 2012 - Turkey’s foreign direct investment for 2011 reached 15.7 billion USD including property purchases and loans from foreign owned investors to their local Turkish subsidiaries. This amount represented a 74 percent increase on 2010. When outgoing foreign direct investments are taken into account the net inflow...

Posted on 16 February 2012

Turkey’s privatisation programme announcements

Istanbul, 14 February 2012 - Deputy President of Turkey’s Privatization Administration, Mr Ahmet Aksu, has said the privatisation process for Turkey’s highways network is set to start in June. Reports suggest the two Bosphorus Bridges and the associated Istanbul ring roads will be amongst the programme of privatisation as well...

Posted on 14 February 2012

India’s Tata Group looking at investing in Turkey

Istanbul, 13 February 2012 - In a recent newspaper interview Managing Director of TATA Power, Mr Anil Sardana, has put Turkey on the list as one of the places the company may invest. Sardana said TATA Power intends to increase its power production from just under 4,000 MWs to 10,000...

Posted on 14 February 2012

Shock Snowfalls Freeze Life in Eastern Turkey

I'm dreaming of a white... Bitlis. Those in the town of Bitlis in eastern Turkey probably aren't dreaming of a white anything after almost a week of constant snow brought day-to-day life in the town to a standstill. Anything or anyone capable of moving freely in a snowdrift of 640cm...

Posted on 11 February 2012

Foreign investment continues to flow into Turkey

Istanbul, 10 February 2012 – Results in a survey conducted by the International Investors Association of Turkey shows Foreign Direct Investment into Turkey is expected to reach 15 billion USD in 2012 - 2 billion USD more than the estimated 2011 figures. Commenting on the survey, Izzet Karaca, Chairman of...

Posted on 10 February 2012

A Week of Tourism Events and Controversy

This week was a week of big tourism events in Turkey, events which brought a new realisation on tourism income growth in Turkey. The Turkey Tourism Summit in the Istanbul Convention and Exhibition Centre ICEC made the headlines for a rather controversial reason. Hurriyet headline: "Minister blames statistics body for...

Posted on 10 February 2012

New Istanbul Financial Centre aims to outclass London and New York

Istanbul, 9 February 2012 - The new Istanbul Financial Centre project in Atasehir on the Asian side of Istanbul is taking shape with construction underway. The Financial Centre has the full backing of the Turkish Government with many of Turkey’s governing bodies of rapidly growing financial sector being house in...

Posted on 09 February 2012