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Category archives for: Turkish Economy News

Attack on Turkey-Iraq pipeline knocks out oil flows

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 […]

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 […]

Turkey: A paradox of secular and Islamic

Turkey is a paradox: it is secular and Islamic, modern and traditional, wants to be Western – yet tends to looks eastwards. But whatever Turkey is doing, it seems to be working. Last year, Turkey emerged as a source of inspiration for countries in the Middle East during the Arab Spring; the country is now […]

SSM releases timetable for major projects

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 […]

Turkey sells mini drones to Qatar

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 […]

Gov’t expects $150 bln in 2012 export revenues

Economy Minister Zafer Çağlayan 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 […]

A year of rediscovery for US and Turkey

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-à-vis Tehran. Deep tactical differences between […]

Turkish government sets minimum wages for 2012

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 […]

Turkey to strengthen national missile force

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 Erdoğan ordered the Scientific and Technological Research Council of Turkey (TÜBİTAK) to develop a long-range missile shield which will […]

Barzani, Khamenei discuss fight against terror, border security

Iran's supreme leader Ayatollah Ali Khamenei (R) meets with Iraqi Kurdish leader Massoud Barzani in Tehran on Oct. 30, 2011. (Photo: Reuters)

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. […]



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