TR Defence
Category archives for: Turkish Economy News

Greece striving for more debt

Greek Prime Minister George Papandreou said Friday he is negotiating a new bailout worth some 110 billion euros, as Europe enters a crucial 10 day period to ringfence the euro crisis. The Greek premier is in the eye of a storm threatening financial markets, the unity of Europe’s 17-nation currency area, and even the EU […]

Istanbul secures presence in World Heritage List

Istanbul has finally been assured that it will not be threatened with exclusion from UNESCO’s World Heritage List, according to a decision made by the organization’s board Thursday in Paris. Last year, UNESCO’s World Heritage Committee issued a statement that the city’s exclusion from the World Heritage List would be discussed at the board’s annual […]

TAI signs $75 mln contract with Airbus for passanger jets

Turkey’s aviation giant TAI (Turkish Aerospace Industries) struck a major deal with the European aircraft maker Airbus, TR Defence sources reported on Wednesday. The $75 million agreement between the companies makes TAI one of the top subcontractors to Airbus in the civilian passenger jet market. According to the contract, TAI will manufacture the majority of the aft […]

Turkey sets example, Papandreou says

Addressing lawmakers ahead of Tuesday night’s crucial confidence vote, Greek Prime Minister George Papandreou said Turkey sets an example in his country’s struggle against a devastating economic crisis. “Why can’t we do what our neighbors Turks have done?” he asked. Speaking at the parliament, Papandreou noted that Greece is going through one of the worst […]

US defense firm signs deal with Turkey’s Hiscar Auto Industries

JWF Defense Systems, a western Pennsylvania defense firm, has signed a deal with a company from Turkey to help produce armored vehicles that JWF said could be worth $50 million over the next five years. The agreement announced Tuesday with Turkish company Hiscar Automotive Industries should also add jobs at Johnstown-based JWF, company president Bill […]

Turkey wants to clarify future of nuclear talks with Japan

Turkish government wants to make future of nuclear talks with Japan clear by mid-July, Turkey’s energy minister said Friday. Following an agreement with Russia to construct Turkey’s first nuclear power plant in the Mediterranean port of Mersin’s Akkuyu town, Turkey has been engaged in talks with Japan since last year to build country’s second nuclear […]

Turkish researchers make nanotechnology breakthrough

A group of Turkish researchers at an Ankara university have manufactured the longest and thinnest nanowires ever produced, by employing a novel method to shrink matter 10-million fold. The invention, discovered at Bilkent University’s National Nanotechnology Research Center, or UNAM, is set to appear on the cover of Nature Material magazine’s July edition. “At this […]

Turkey’s Islamists Win 3rd Straight Term in Govt.

Turkey’s Islamist-leaning Justice and Development Party (AKP) won a landslide victory in nationwide parliamentary elections June 12, according to results released June 13, securing a third consecutive term in government since 2002. Led by Prime Minister Recep Tayyip Erdogan, the AKP garnered nearly 50 percent of the general vote, while the main opposition party, the […]

Israel central bank chief enters race to steer IMF

Bank of Israel Governor Stanley Fischer announced on Saturday he was in the race to become the next head of the International Monetary Fund, or IMF. Fischer, 67, is a widely respected economist credited with successfully guiding Israel’s economy through the global crisis. He is nevertheless something of a dark-horse candidate, as France’s Christine Lagarde […]

Turkey warming to France as Nabucco seeks 7th partner

Turkey is leaving the door open for the involvement of France in the multi-national Nabucco project amid plans to extend its scope to include a seventh partner. “There could be one or more partners to the project,” Energy Minister Taner Yıldız told a group of journalists Thursday in his hometown Kayseri, one day after five […]

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