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Turkey Gets Its Investment Grade Status

Turkey is has finally got the investment grade rating it has strove for for so long, as Fitch upgraded the country to the investment grade rating of BBB-. Analysts are split as to what the effects of the upgrade will be. Some suggest, as has long been the consolation, that...

Posted on 07 November 2012

Turkish Trade Deficit Sees Big Decrease, Other News

The foreign trade deficit is known to be one of Turkey's few remaining economic problems. However, according to the latest data the foreign trade deficit shrank by almost 35% on the year in September. The figures, from Turkstat show that a 21% increase to $13 billion in exports, combined with...

Posted on 01 November 2012

Turkish Exports Continue to Grow Strongly in September

At 11.4 billion USD Turkish exports increased by 7.4% year on year in September. The year-to-date performance is even more impressive, with 111.4 billion USD taking us up 12.1% compared to the same period in 2011. Par for the current course automotive exports remained at the top of the tree...

Posted on 18 October 2012

Big News on the Turkish Golf Scene

It's all go in the Turkish golf scene this week. Not only did Tiger Woods make the headlines for all the wrong reasons in the Turkish Airlines World Golf Final, but the first official Turkish Golf Open as part of the European PGA Tour was also announced. The new tournament...

Posted on 11 October 2012

Turkey to be Declared Key Country for EU

The European Union is to declare Turkey as being essential for the prosperity and security of the area, but is still critical of Ankara’s failure to make progress towards accession. These issues are to be raised in the EU’s draft strategy paper, the Enlargement Strategy Paper which is due to...

Posted on 27 September 2012

New Incentives Bring New Wave of FDI to Turkey

The latest round of investment incentives has paid off in Turkey, as according to reports another wave of major investment is headed for the strategically important emerging market. İlker Aycı, President of the Investment Support and Promotion Agency of Turkey (ISPAT) told a press conference that a big North American...

Posted on 20 September 2012

Turkey Discusses the Trans-Caspian Pipeline

Senior officials from Azerbaijan, the European Union, Turkey and Turkmenistan recently met to discuss the Trans-Caspian gas pipeline that will deliver gas to Europe through Azerbaijan and Turkey. The main aim of the project is to reduce Europe's dependence on Russian gas, and Turkmenistan is also trying to diminish its...

Posted on 14 September 2012

Turkish Economy Soldiers on on Diversified Export Markets

Analysts predict that Turkey will have avoided the slowdown seen by most western European economies in the second quarter, as firms diversified their exports away from Europe into Africa and the Middle East to generate, which also helped to bring about a 12%+ growth in exports for the first seven...

Posted on 08 September 2012

Fitch Ratings Says Turkey on Track for Soft Landing

Fitch Ratings has just published a report on the Turkish economy and says the country has made good progress in returning to a sustainable growth rate while reducing the rate of inflation and the current account deficit. However Fitch warns the Turkish economy is still vulnerable to the global financial...

Posted on 31 August 2012

Fitch Will Upgrade Turkey If…

Fresh hopes that Turkey will receive an upgrade are the news of today. But this time the hopes come straight from the horse's mouth as it were, and they are more goals than hopes. In a report issued this week, Fitch said that it will upgrade Turkey from BB to...

Posted on 24 August 2012