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Category archives for: Turkish Economy News

Global energy experts set to meet in Turkey

energy

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 […]

The New Strategic Reality in the Black Sea

blacksea

The crisis in Ukraine, which led to annexation of Crimea by Russia in March 2014, had an immediate impact on the strategic situation across the entire Black Sea region. Russia emerged as a clear beneficiary mostly at the expense of Ukraine. The new situation will now have repercussions for other regional actors, in particular Turkey […]

Turkey tops employment growth

Private Equity II

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

Oil_platform_P-51_(Brazil)

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 […]

IDEF 2013: Otokar positions for exports with new designs

Otokar TULPAR IFV with the Mizrak turret system featuring a 30mm dual-fed cannon and Aselsan electro-optics.

Otokar made further moves to position itself as a viable alternative to Western manufacturers with the release of three new vehicles at the IDEF exhibition in Istanbul. Alongside the second prototype of the Altay MBT, Otokar unveiled the Tulpar armoured vehicle, the Cobra II 4×4 and the Ural 4×4 tactical vehicle. The company, which claims […]

Defence Innovations from Turkey

Otokar's COBRA 2

Turkey has a vibrant and increasingly capable defence industry that is determined to boost its export earnings up to $2 billion a year, a goal that the Defence and Aerospace Industry Exporters Association says is well within reach. Broadly based and innovative, its products include aircraft, land vehicles, warships, weapon systems ranging from small arms […]

Turkey awaits the new nuclear bid

turkey-nuclear-energy

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 […]

Aselsan to produce STAMP & STOP systems in UAE

aselsanstamp

Turkey’s defence electronics giant Aselsan has signed a $2.7 million contract with IGG of the United Arab Emirates. The contract aims to build and upgrade IGG’s facilities for the production of Aselsan’s proprietary STAMP and STOP stabilized remote weapon systems. STAMP features a two-axis gyro stabilized 12.7mm machine gun, remote command and control systems and a sensor suite complete […]

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

Turkey will buy around 100 F-35 Joint Strike Fighter Lightning II aircraft. EPA photo

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 […]

Attack on Turkey-Iraq pipeline knocks out oil flows

fire

Turkish authorities are blaming sabotage for a fire on a pipeline carrying petroleum from Iraq to Turkey’s Mediterranean coast that cut oil flows late on Friday, NTV television said. The fire on the Kirkuk-Ceyhan pipeline erupted near the town of Midyat in southeastern Turkey, it said, citing the provincial governor. The Governor of Mardin, Turhan […]



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