Turkey is getting ready to choose a winning tender for its second nuclear plant and Istanbul’s third airport as early as tomorrow, amid a firesale of many state assets, including a key port in Istanbul and Turkey’s railroads, Two high-profile tenders are expected to be finalized tomorrow, one for Istanbul’s third airport and the other [...]
Turkey’s first electric bus, the Doruk Electra, produced by Turkish bus maker Otokar, is ready to be produced serially and hit the roads after completion of a six-month testing period. Doruk Elektra, which runs completely on electricity and can cover 280 kilometers of road with a single charge, has been operating on some routes in [...]
A mission of US defense and aerospace industry firms, which include Bell, Boeing and Sikorsky, will visit Istanbul and Ankara to seek local partners. The US commerce undersecretary will lead the mission. A large business mission of U.S.-based defense and aerospace companies, including world giants such as Bell Helicopter, Boeing, General Electric and Sikorsky, will [...]
Nov 12 2012 | Posted in
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Turkey will spend up to $8 billion in defense purchases as its exports will reach $2 billion in 2016, four years from now, according to a major estimation by the procurement agency, the Undersecretariat for Defense Industries (SSM). The present figures are around half of that. The expectations in the SSM’s updated 2012-2016 strategic program [...]
Jul 27 2012 | Posted in
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Worldwide defense sales fell 3.3 percent in 2011 from a year ago, driven by governments’ spending priorities, weak Western economies, and withdrawal from Iraq and Afghanistan, a report from consultancy Deloitte said. The decline in defense contrasted with an overall 2.3 percent rise in global aerospace and defense revenues, helped by higher production rates of [...]
Turkey’s Utaş Makine Sanayii has signed a deal with an American distributor in Hollywood for its UTS 15 rifle to be used in Hollywood action film productions, according to daily Zaman. The UTS 15 rifle has already been used in the joint American-Canadian science fiction television show Fringe. Eight UTS 15 rifles will also be [...]
Economy Minister Zafer ÇaÄŸlayan has announced that the Justice and Development Party (AK Party) government’s export target this year is to earn $149 billion in revenue from goods sold to overseas markets. Speaking to the Anatolia news agency, the minister made comparisons between Turkey and other economies, particularly those in Europe, with respect to a [...]
Turkish government has set minimum wage for workers above 16 years old at net 701.1 Turkish liras for the first half of 2012 and at net 739.8 TL for the second half of next year. Turkish Labor and Social Security Minister Faruk Celik said the rise marked a 5.91 percent increase for the first half [...]
The Turkish central administration’s revenues exceeded its expenditures by TL 2.14 billion ($1.14 billion) in the month of November, pushing its cumulative budget’s balance back to surplus with only a month left to go before year-end. According an announcement from the Finance Ministry on Thursday, the Turkish budget produced a TL 439 million ($233 million) [...]
Dec 15 2011 | Posted in
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Turkey’s exports have reached $133.97 billion in the past 12 months, indicating that the country has now broken a new record with the highest level of exports in the history of the republic, Economy Minister Zafer ÇaÄŸlayan said at a meeting in Ankara on Thursday. Turkey sold $114 billion worth of goods to overseas markets [...]
Dec 8 2011 | Posted in
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