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Category archives for: Economy

Turkey will maintain Europe’s highest growth until 2015

The report said the latest indices indicated a slowdown in Turkish growth; however, the EU candidate will maintain the momentum to see the fastest growth in its (GDP) among European economies until 2015. (Photo: Today's Zaman)

The Turkish economy will record the fastest growth in Europe between 2011 and 2015, according to a report compiled by global commercial real estate services company Jones Lang LaSalle. Jones Lang LaSalle released its Turkey Real Estate Overview report for the third quarter of 2011 on Monday, assessing the current developments in the Turkish economy […]

US retailer recalls Turkish pine nuts

A monumental pine tree in the southern province of Mersin is seen in this file photo. Some 2.3 tons of pine nuts imported to the US from Turkey are suspected of carrying salmonella bacteria, which can enter in food due to non-hygienic conditions. Hürriyet photo

A US-based grocery chain is recalling around 2.3 tons of pine nuts imported from Turkey following a reported bacteria outbreak that sickened 42 A grocery store chain in the United States has decided to recall about 2.3 tons of pine nuts imported from Turkey over concerns of a salmonella outbreak that has infected more than […]

Strong Arab ties drive Lebanon bank to Turkey

This company photo shows the Beirut headquarters of Bank Audi. The group’s chief finance executive says Turkey promises a big potential, particularly in middle firms’ section.

Lebanon’s Bank Audi has been authorized to open a Turkey unit with capital of $300 million. The developing Turkish and Arab ties triggered the lender’s interest in the country, a senior executive tells the Daily News Bank Audi, Lebanon’s leading lender, will enter the Turkish market with a strong business plan, following an authorization by […]

Turkey’s trade deficit widens to record highs

The trade deficit peaked to $10.4 bln in September, compared with $6.7 bln it was in 2010’s same month TÜİK figures show. DAILY NEWS photo, Hasan ALTINIŞIK.

Turkey’s trade deficit raised to record-high levels in September. Domestic saving rates should be increased to address the problem, an economist argues. Turkey’s trade deficit widened to a record level in September compared with last year, official figures published yesterday show. Skyrocketing current trade deficit and a low domestic savings ratio in the growing economy […]

Turkish govt to pay salaries of Van earthquake victims

Çelik stated on Tuesday that the government will be helping businesses affected by Sunday’s earthquake in Van by paying their workers’ salaries for a period of up to six months. Labor and Social Security Minister Faruk Çelik stated on Tuesday that the government will be helping businesses affected by Sunday’s earthquake in Van by paying […]

Turkish hospital opens to save lives in Kazakhstan

The Sema Hospital, specializing in the treatment of heart disease, was officially inaugurated over the weekend in Almaty, the largest city in Kazakhstan. The Turkish hospital was available for surgical procedures six months ago, even though it had not been officially opened. The inauguration ceremony saw Turkish Deputy Prime Minister Bekir Bozdağ, his Kazakh counterpart, […]

Central Bank to try to get genie out of bottle

Shoppers are seen at a newly opened mall in the southern province of Hatay. The Central Bank warns about a chigh inflation risk. AA photo

Turkish Central Bank is set to reveal a five-item plan today to defend lira and support price stability. Economists speculate on probable moves as one says the bank may announce a more flexible inflation rate goal Turkish markets are anticipating a Central Bank decision today to address price stability and inflation risks on the heels […]

Turkey’s banks eye 10 pct growth in 2012

Aydın discussed the latest developments in the global and domestic finance markets with reporters on Monday in the southeastern province of Gaziantep. Turkish Banks Association (TBB) Chairman Hüseyin Aydın has said the association supports a recently announced government medium-term economic program (OVP), noting that bankers anticipate about 10 percent growth in their assets next year, […]

Turkish steps in as Lira weakening

Erdem Basci said he would announce “a five-step action plan” on Wednesday which he said would “strengthen lira significantly.” Turkish Central Bank governor on Monday said the bank was set to announce a package of measures to ward off further devaluation of the Turkish currency against US. dollar. Erdem Basci said he would announce “a […]

Trade with Iran might hit $15 bln, envoy says

Turkey’s bilateral trade with its eastern neighbor Iran will reach $15 billion this year, according to Iranian Ambassador to Turkey Bahman Hosseinpour, speaking to state-run Press TV news channel, according to a Bloomberg report yesterday. The value of goods and services traded between the two countries totaled $10.6 billion during the first eight months of […]

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