Turkey

Davutoğlu: Europe can overcome problems if it joins hands with Turkey – January 9th 2012

“The picture of Europe in our mind is that of a Europe that has regained its geo-political standing. It can do that through us. We envision a Europe that has regained its economic dynamism, something which it can do through us. This is the Europe we want,” Davutoğlu said in a speech delivered during a meeting hosted by Independent Industrialists and Businessmen’s Association (MUSIAD) in Istanbul.

“Just as we see ourselves as an inalienable element of Europe’s past, we also see ourselves as an inalienable element of Europe’s future. We are looking at Europe from within, not from outside,” he said.

Turkey’s current deficit narrows – January 12th 2012

Turkey posted a $5.2 billion current account deficit in November, amounting to a 13.2 percent drop as from the same period last year. On a 12-month basis, the current account deficit narrowed from $78.6 million to $77.8 million. The foreign trade deficit of Turkey also decreased by 4 percent to amount to $6.6 billion in November 2011. Furthermore, Turkey’s tourism revenues increased by 13.2 percent as from the same period last year and reached $22.4 billion, whereas tourism expenses decreased to $4.4 billion in November 2011. Economy Minister Zafer Çağlayan yesterday stated that direct investment into Turkey amounted to $12.1 billion in the first 11 months of 2011 as a result of an increase by 70 percent as from the same period last year with 86 percent of these figures coming from Europe. Çağlayan stressed that Turkey enjoyed the best climate in terms of investments and that the government’s new incentive system would constitute a mechanism to help further reduce the current account deficit.

Turkish GSM operator in Forbes stocks list – January 7th 2012

Turkey’s GSM operator, Turkcell, has been ranked among the top ten stock picks for 2012

“Not surprisingly, Turkish stocks have taken a beating. The MSCI Turkey Index as measured by the iShares MSCI Turkey Index Fund (NYSE:TUR) is down nearly 50% since October 2010, and off about 30% since summer 2011 as of this writing. If you believe, as I do, that Turkey has one of the brightest futures of any country on the planet, then the crises on Turkey’s borders should be viewed as a phenomenal opportunity to buy shares of some of Turkey’s finest companies. And my choice for 2012 is Turkcell,” he said.

As of September 30, 2011, Turkcell has made 7.9 billion US dollars worth of investments (including 2G and 3G licenses) in Turkey. Again as of September 30, 2011, with its 34.4 million subscribers, Turkcell is not only the leading operator in Turkey, but also the third largest GSM operator in Europe in terms of subscriber number.

As of September 30, 2011, Turkcell had signed 3G contracts with 263 operators in 110 countries, ranking it among the world’s top operators in terms of the provision of international data services. Turkcell also ranks among the top operators in terms of GPRS roaming, where it has signed contracts with 492 operators from 166 countries.

Turkey white goods manufacture up in 2011 – January 17th 2012

Manufacture of white goods in Turkey in 2011 exceeded over 20 millon, an association of the country’s white goods producers have said

Istanbul – The production of the six-product group including refrigerators, freezers, washing machines, dishwashers, dryers and ovens reached 20,106,418 from 18,396,579 a year earlier.

Nearly 15 million of the total output were exported as 6.4 million of them were sold in the domestic market.

Wotton to visit Turkey – January 12th 2012

Alderman David Wotton, Lord Mayor of the City of London, is set to visit Turkey on January 15-19 to be accompanied by approximately 20 businessmen and bank managers. Reportedly, Wotton’s visit shows the importance attached to Turkey’s great economic potential. As is known, British Prime Minister has set a target of increasing the bilateral trade volume between Turkey and Britain from $9 billion to $18 billion until the beginning of 2018. Wotton and the accompanying delegation will be received by President Abdullah Gül, Deputy Prime Minister Ali Babacan and Economy Minister Zafer Çağlayan during their visit which will cover Istanbul, Ankara and Izmir.

Turkish seed bank secures the future – January 5th 2012

As global warming becomes a more serious threat, countries look for ways to secure their future

Droughts, air pollution and various reasons…

As world gets more crowded, the source of life; seeds disappear one after another.

Turkey has already taken measures against this frightening situation.

The seed genetics bank in Ankara is serving as a host to Turkey’s plant diversity, with more than 250 thousand different seeds.

In terms of capacity, the seed bank is the third biggest in the world, and is host to both the 10,000 year old wheat germ and today’s common use wheat germs.

3900 of the 12,000 plants in Turkey are peculiar to this country.

These unique seeds are collected from Anatolian villages, fields and even from the boxes of grandmothers.

The seeds are brought to the seed genetics bank in Ankara and are taken under protection.

Agricultural Research and Policy Agency Director General Masum Burak says the seeds under protection are germinated in every 5 years for durability concerns.

With reclaiming efforts healthy seeds are produced and patented by the agency.

Fast train between Izmir and Ankara – December 26th 2011

Bidders will be invited on December 28 for the first stage of the Fast Train Project to reduce the travel time between İzmir and Ankara to 3,5 hours

Transport, Maritime and Communications Minister Binali Yıldırım has made the statement in this regard, also saying that the second stage of the project will be put to tender in 2012 thus making it possible for the construction on both stages to be kicked off.

Yıldırım said further that the project bore great importance for Turkey’s economy and the government aimed to put the Fast Train project into service by 2015.

Yıldırım also said that given the travel time between the two centres by land being 9 hours and by air almost as much with the waiting and layover included, the fast train reducing the journey to 3,5 hours would be most expedient and an important alternative.

Yours faithfully,

Cem

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