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S&P upgrades Turkish credit rating

21 September 2011 - The international credit rating agency S&P (Standard & Poor’s) has upgraded Turkey’s local currency rating to the investable rating of BBB-/A-3. Commenting on the upgrade S&P’s analysts Frank Gill and Leila Butt said “The local-currency upgrade reflects our view of continuing improvements in Turkey’s financial sector...

Posted on 21 September 2011

Volkswagen Group to increase manufacturing in Turkey

20 September 2011 - Germany’s MAN commercial vehicles manufacturer, part of Germany’s Volkswagen Group, has decided to make Turkey a research and development centre. MAN, which has been in Turkey for 45 years, is also increasing its bus manufacturing lines. During a recent visit to Turkey to celebrate the 45...

Posted on 20 September 2011

Ankara gets new Swedish H&M store

19 September 2011 - H&M the renowned Swedish clothing store opened its first Ankara store on Saturday, H&M's seventh store in Turkey. The first Ankara H&M concept store is located in the CEPA shopping mall, H&M will also be opening its second Ankara store on September 24th in the Gordion...

Posted on 19 September 2011

Altinkum Marina Rocks the Boat [Pictures]

We are happy to present these fantastic new images of the marina at Altinkum. Altinkum property is rapidly becoming a favourite with foreign buyers, especially those on a lower budget who can't fail to see the fantastic value for money of offer. But it is difficult not to concede that...

Posted on 17 September 2011

Tesco executive says Tesco may expand in Turkey

15 September 2011 - Tesco, UK’s leading grocery retailer has announced that it may buy local retail chains in Turkey to compliment its successful Turkish Tesco Kipa operation. Mr Mike Arnott, Director of Tesco Kipa said “We may consider acquiring some Turkish retail chains as we are open to all...

Posted on 15 September 2011

Arab Spring Fuels Booming Tourism, Property Sales and Economy in Turkey

The Turkish economy was the fastest growing in the world in the first six months of this year, with GDP growing 8.8% in the year to end June according to the latest data from Turkstat. The Turkish statistical body also revised upwards its first quarter GDP figures, from the 11%...

Posted on 15 September 2011

Turkey’s Foreign Direct Investment continues to climb

14 September 2011 - According to Mr Zafer Caglayan, the Turkish Economy Minister, Turkey’s FDI (Foreign Direct Investment) reached over 9 Billion USD in the 7 months to 31 July 2011 of which over 90% came from EU member states. This figures compares with 4.5 Billion USD for the same period...

Posted on 14 September 2011

Turkey’s GDP growth up

12 September 2011 – The latest figures from Turkstat (Turkish Statistical Institute) shows Turkey’s GDP increased to 203 Billion USD in the second quarter of 2011, a 8.8 percent increase over the same period in 2010, whereas the international finance markets had been expecting around 6.5 percent for Q2 in...

Posted on 12 September 2011

British Buyers Still on Top in Flourishing Turkish Property Market

The Turkish property market continues to go from strength to strength. Recent reports have indicated that Russian and Arab buyers are taking over from Brits as the dominant force, but according to official data Brits are still the largest grouping of foreign owners in Turkey as the property market continues...

Posted on 09 September 2011

Turkey Tourism Continues Strong Growth–UNWTO

As with anything, the number of tourists a country receives in a given period is subject to a number of different measurements, all of which arrive at their own total depending on how they are worked out. According to the World Tourism Organization (UNWTO) Turkey attracted 27 million foreign visitors...

Posted on 08 September 2011