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With Turkish GDP Up 8.9% in 2010, Can Erdogan Keep his Grip on Inflation?

Turkstat has just revealed its data on GDP growth for 2010 and the final figure was 8.9%, considerably higher than the 6.4% reported by Prime Minister Erdogan at the start of the year. According to the data, the Turkish economy grew 9.2% in the fourth quarter, following growth of 11.3%,...

Posted on 01 April 2011

Akbank Subsidiary to Launch 4 New Turkish Real Estate Funds

Four new capital protected property funds are to be launched in Turkey by Akbank subsidiary Ak Asset Management. The funds, which will be linked to food, gold and oil prices are due to be opened next month. "The capital protected property fund has started to gain a larger share in...

Posted on 31 March 2011

British Tourism to Turkey Climbs 10% in 2010

The latest data on Turkish tourism shows a 10% year on year growth in British visitors in 2010. According to the data, Turkey received an impressive 28.6million visitors last year, 2.67 million of those were British. "Turkey has gone from strength to strength in the UK market," said Tolga Tuyluoglu...

Posted on 25 March 2011

Istanbul showing signs of sustainable growth

Turkey is the 15th largest economy in the world, and although suffered during the downturn its strong recovery continues to be the envy of much larger and more developed countries. Istanbul has benefited greatly from this recovery as it is not only a popular tourist destination but also has many...

Posted on 18 February 2011

Major chain to open two new hotels in Bursa, Turkey

Starwood Hotels & Resorts have just signed an agreement with Faik Celik Turizm to develop two new hotels in Bursa under the Sheraton and Aloft brands. They are expected to open in 2013 and are located in a rapidly developing residential and business area adjacent to the upcoming football stadium...

Posted on 10 February 2011

Turkish Central Bank Cuts Rate Further

The Turkish Central Bank has again cut its rates as inflation continues to slow in the rapidly growing economy. The bank said in an emailed statement that it was reducing its one week repo lending rate by 0.5 percentage points, bringing it to a record low. Recently the banks Deputy...

Posted on 17 December 2010

Turkey: the Fastest Growing Economy in Europe Growing Beyond Expectations

Ali Babacan, the Turkish Minister for the Economy has said that the massive increase in the industrial production index for October means that the government's economic growth forecast for 2010 must be revised upwards. "Industrial output increased by 9.8 percent in October. The recovery in Turkish industry started in October...

Posted on 10 December 2010

Ankara Leaves Property Tax Value Unchanged, Calls on Poland’s Support for EU Bid

Turkish property owners or those currently purchasing a property in Turkey will be glad to hear that the government has decided not to increase the value it holds on their property for taxation purchases, and so the rate at which they pay tax against the property will not go up...

Posted on 09 December 2010

Investor Confidence in Turkey Back to 2007 Levels

According to the Deloitte "Private Equity Confidence Survey," or PECS, investors have the same level of confidence in Turkey as they did in 2007 before the international financial crisis first reared its ugly head. The PECS report is based on the results of a huge survey asking the views of...

Posted on 02 December 2010

Turkey to Become Regional Call Centre Hub

Turkey is to become a regional call centre hub because of its young dynamic population, as well as its unique geographic location experts are predicting. Turkey has a lot to offer global companies looking to outsource their tele-sales, tele-marketing and customer services operations to another country, Deniz Babucoglu, the Turkish...

Posted on 29 October 2010