Turkey’s Undersecretariat for the Defense Industry has disclosed a new five-year strategic plan, which finalizes completion dates for key projects including Turkish-made tanks, aircraft, satellites, destroyers, and helicopters, in a bid to lift the country’s defense industry into a higher league. Altay, the Turkish-made tank project, will be complete by the end of 2015, the [...]
Mar 28 2012 | Posted in
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In an effort to boost defense industry exports to Islamic states, Turkey has recently sold 10 mini drones to Qatar, a senior procurement official said Sunday. The small unmanned aerial vehicles (SUAVs) were exported under a general agreement made during the International Defense Fair (IDEF), which convened in Istanbul May 2011, for the sale of [...]
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 [...]
The United States and Turkish governments in many senses rediscovered each other in 2011, achieving constructive engagement — especially in the aftermath of the people’s revolutions in the Middle East and North Africa. In stark contrast, the previous year Ankara irked many in Washington with its relatively accommodating stance vis-Ã -vis Tehran. Deep tactical differences between [...]
Dec 29 2011 | Posted in
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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 [...]
Shortly after the production of an all-Turkish-made rifle was introduced on Wednesday, Turkey announced plans to beef up its missile defense system, as concerns simmer over the recent flare-up in regional conflicts. Prime Minister Recep Tayyip ErdoÄŸan ordered the Scientific and Technological Research Council of Turkey (TÃœBÄ°TAK) to develop a long-range missile shield which will [...]
Iraqi Kurdish leader Massoud Barzani and Iran’s Supreme Leader Ayatollah Ali Khamenei have discussed the fight against the terrorist Kurdistan Workers’ Party (PKK) and its Iranian offshoot, the Party for a Free Life in Kurdistan (PJAK), and have agreed to cooperate to ensure the security of their common border, a news report said on Monday. [...]
The global financial turmoil is an opportunity for Brazil and Turkey to boost economic cooperation and ease the impact of the crisis, Brazilian President Dilma Rousseff said on Oct. 7. Despite the bruising impact of the global shake-up, Turkey and Brazil are among countries that continued to grow, Rousseff said speaking at a Turkish-Brazilian business [...]
China’s economic success in the last three quarters is mainly due to cheap labor and export-oriented economies of scale. However, the leadership is quite aware of the unsustainability of this approach, and as wages are rising in the country, they are working to increase the value chain of domestic production. Their foreign technology transfer strategies [...]
The failure of eurozone finance ministers to come up with a concrete measure on Greece sends stocks plummeting as investors flee from perceived risk to the relative safety of the US dollar. The markets are especially concerned about European lender Dexia, which reportedly has a huge exposure to shaky Greek government debt World stocks hit [...]
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