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Category archives for: Economy

Global energy experts set to meet in Turkey

The Turkish energy minister and a senior economist are to deliver speeches at the opening of the Anadolu Agency co-sponsored, 20th International Energy and Environment Fair due to be held in Istanbul on April 24. The convention, to be held over three days at the Istanbul Expo Center, will be the largest energy and environment […]

Turkish defence industry struggles to go global

Turkey’s defense industry exports have largely been possible through offset arrangements made with foreign arms suppliers. Defense offset agreements, as legal trading practices in the aerospace and military industries, are widely used by many countries as a means of bringing some of the foreign currency going abroad back to the country through arms procurement deals […]

Turkey tops employment growth

Turkey has ranked first among 32 developed and developing countries in increasing its workforce size since the 2008 global economic crisis, marking a 22.7 percent rise. According to figures compiled by data from the International Monetary Fund (IMF) and the Turkish Statistical Institute (TÜİK), the Turkish workforce increased by 4.7 million people from 2008 to […]

Greece Eyes $206 Billion From Oil & Gas Deposits

Greece can potentially bring in more than 150 billion euros ($206 billion) in state revenue over the next 30 years through untapped oil and natural gas deposits, said Prime Minister Antonis Samaras on Wednesday, with the sum worth nearly half of Greece’s current debt mountain. There are “very strong indications of significant” reserves off Greece’s […]

Turkey accelerates defence Silicon Valley

Teknopark Istanbul is heading fast toward its planned inauguration this August. It will host over 1,000 advanced technology companies and generate nearly $10 billion annually when completed . Turkey’s commercial capital Istanbul generates an annual $140 billion and houses about 50 universities, but the country’s defense heavyweights are overwhelmingly located in and around the official […]

Turkey awaits the new nuclear bid

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 ready to hit roads

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 […]

US firms seek Turkish defense contracts, partners

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 […]

2016: Turkey’s defense purchases to reach $8 billion

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 […]

Global Defense Sales Slip 3.3%, Aerospace Rises

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 […]



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