Prices turn property developers to Istanbul’s outskirts

Real estate experts say available land for housing in central Istanbul has gone, pushing investors to turn to outlying districts By Nilay Kar Onum ISTANBUL ‘Istanbul’s streets are paved with gold,’ runs a Turkish saying. This saying has rung particularly true in Turkey’s financial and cultural capital – especially over

Continue reading

Confidence high in Turkish economy before election

Consumers have enjoyed a bout of robust pre-election spending: Standard & Poor’s ANKARA More people in Turkey are feeling positive about the future of the economy ahead of the election on Sunday, according to official figures published on Tuesday. The Economic Confidence index rose by 13 percent in October, the Turkish Statistical Institute

Continue reading

Turkey plans technology upgrade, says Guven Sak

Government plans focus on biotech, information technology, nanotechnology as key areas to boost productivity= By Andrew Jay Rosenbaum ANKARA Turkey is planning a technology upgrade to give it a competitive edge in global markets. “The challenge for Turkey is increasing productivity and the plan is to focus on cutting-edge areas of

Continue reading

Ratings agency maintains stable outlook for Turkey

Commitment to fiscal discipline gets broad support despite political uncertainty ANKARA Credit agency Fitch Ratings maintained Turkey’s investment-grade credit rating and stable outlook in a note released Thursday. “Turkey’s sovereign credit profile continues to mix high exposure to global financial market conditions and other structural weaknesses with strong public finances and

Continue reading

Turkish Airlines surpasses 46.5 million passengers mark

The Turkish flag carrier has shown an increase of 5.1M to reach 46.5M passengers in 2015, up from 41.1million within the same period in 2014 ANKARA The number of passengers traveling with Turkish Airlines surged 12.2 percent this year between January and September compared with the same period last year,

Continue reading

Turkish retail grows despite tough conditions

Turkish retailing is moving from mom-and-pop shops to shopping malls, experts say By Andrew Jay Rosenbaum ​ANKARA The Turkish retail sector continues to grow despite low consumer confidence and a devalued lira. “Turkish retail has seen robust growth over the past few years and the trend is set to continue for at

Continue reading