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TANAP to create 15,000 jobs: SOCAR Turkey CEO

The Trans-Anatolian Natural Gas Pipeline (TANAP) will create more than 15,000 new jobs and make a great economic contribution to the participating countries, according to the State Oil Company of Azerbaijan (Socar), which is conducting the project. “Pipelines and upstream investment made for the Shah Deniz Stage 2 Gas Field

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HSBC

ING on course to win auction for HSBC’s Turkish bank

Dutch lender ING Group (ING.AS) is set to win the auction to buy HSBC’s (HSBA.L) Turkish business, people familiar with the matter said on Thursday. Four people familiar with the situation said HSBC had narrowed the field to one suitor, with two of the sources identifying ING as the preferred

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inflation

Monthly inflation exceeds expectations

In May, consumer prices in Turkey rose by 0.56% over the previous month, and by 8.09% compared to the same month previous year, according to data released by the country’s Statistical Institute (TurkStat). The highest monthly increase was 10.06% in clothing and footwear, followed by transportation with a 1.76% increase.

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index

Turkey moves up to 22nd among top FDI destinations

Turkey moved up 2 places to rank 22nd on the 2015 A.T. Kearney Foreign Direct Investment Confidence Index. The Kearney study states that Turkey is a platform to serve both Europe and the Middle East but that investors from the USA are not aware of the country’s potential. The study

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debt calendar

Turkish business circles in-between debt calendar and snap election fears

Turkish business circles want to see the end of post-election uncertainties and express their concerns to politicians. Many of them are under huge debt burdens. Their biggest concern is the possibility of the non-establishment of any coalition government and entering a snap election period, which will both increase political risks.

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Demirel leaves mark on Turkish economy

Former Turkish President Süleyman Demirel, who died early June 17, left his mark on the Turkish economy, as the country’s second highest growth rate was seen during one of his governing terms and he pioneered the launch of many large infrastructure investments. Demirel, who served as prime minister seven times

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Turkey ranks second in infrastructure investments after Brazil: World Bank

Turkey ranked second after Brazil in making the highest commitments for total infrastructure investments among 139 emerging countries in 2014, according to data from the World Bank. Peru, Colombia and India followed in third, fourth and fifth, respectively. Total infrastructure investments in 139 emerging economies for projects with private participation

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Turkey: GDP up 2.3 percent in first quarter

Robust growth exceeds forecasts by economists ANKARA  Turkey’s economy saw unexpectedly strong growth at 2.3 percent in the first quarter of the year, the Turkish Statistical Institute said in a statement Wednesday. “Gross domestic product increased by 2.3 percent, compared with the same quarter of previous year, in the first quarter

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turkish airlines

Turkish Airlines celebrates its 50th anniversary in the Netherlands

In 1965 the first Turkish airlines plane landed at Amsterdam Schiphol Airport.The anniversary was celebrated with large-scale several hundred guests. Amongst the participants were; Turkish H.E. Ambassador Sadik Arslan, the Turkish Consul General in Rotterdam Oral Togan and the Turkish Consul  in Deventer General Zafer Ateş. Ahmet Şahin, General Manager of

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