Central Bank forecasts year-end inflation as 5.1 %

Posted by meb at January 30th, 2007

The Governor of Central Bank of Turkey, Durmus Yilmaz, forecast the year-end inflation figure as 5.1 percent, and the inflation figure in 2008 as 3.4 percent.
Holding a press conference in capital Ankara yesterday, Yılmaz stated that the year-end inflation will be between 3.6 and 6.6 percent this year, and between 1.6 and 5.2 percent next year.
“Firm monetary policies should be maintained for some time more in order to keep medium-term inflation target of 4 percent,” he noted.
The governor underlined that weather conditions, (more…)

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TCMB: Meeting inflation targets possible as oil prices fall

Posted by meb at January 30th, 2007

Reaching inflation targets for 2007 is a bigger possibility now considering the recent decreases in oil prices, said Durmuş Yılmaz, the governor of the Central Bank of Turkey (TCMB).

“We have to continue a tight monetary policy to accomplish our middle-term target, which is to approach 4 percent inflation,” said Yılmaz. He emphasized that they reset oil price expectations at $55 per barrel rather than $60 and that they expect significant declines in inflation rates. The Central Bank’s monetary policies are aiming for 4 percent inflation by the end of the year. According to figures based on the probability calcularions, Yılmaz announced that expected inflation rate would be 5.1 percent in 2007 and 3.4 percent in 2008, with a 70 percent possibility. He said that the range in inflation would be between 3.6 percent and 6.6 percent in 2007 and between  (more…)

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International hotels head to Istanbul

Posted by meb at January 29th, 2007

The 10 million tourists expected to come to Istanbul during the next 10 years has caused hotel companies from Europe to the Far East to jump into the city’s market

SEVGİ SAYAR
ISTANBUL - Referans and Turkish Daily News

Istanbul’s recent progress in tourism and its untapped potential has wet the appetite of some of the world’s leading hotel chains. While current hotel groups are pleased with their performance in Istanbul, they are looking for additional places to open more hotels.

Nearly 10 international hotel chains will open hotels in Istanbul in 2007. Among those ready to open their second and third hotels in the  (more…)

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TCDD procurement for electric locomotives

Posted by meb at January 29th, 2007

Turkish State Railways (TCDD) has made an international tender invitation for procurement of 80 units of electric locomotives and the spare parts at 5 pct of the total amount, and a simulator unit.

Bid submission deadline has been set as March 30,  (more…)

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Value of stocks increases by 4.09 percent on average last week

Posted by meb at January 29th, 2007

The value of the stocks which were traded in the İstanbul Stock Exchange (İMKB) increased by an average rate of 4.09 percent last week.
All the Stock Exchange indexes rose last week. In the İMKB Bill and Bond Market, the rates moved up and down. There was an upward course in the foreign currency levels against the YTL, except the Euro. Gold prices have completed the week up 2-3 pct. There was also no change in the averages of the  (more…)

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Interest paid in five years could revive the whole country

Posted by meb at January 29th, 2007

Turkey paid $184.3 billion in interest over the last five years despite the decline of inflation and structural reforms.

According to the calculations of an Anatolian Agency reporter, for this figure, the poorest 2.5 million people of Turkey could be paid YTL 405 per month for 15 years; the South-east Anatolian Project (GAP), the biggest agricultural Project of Turkey for more than 20 years, could be completed; a 10,000 kilometer-long railway and 3,000 kilometer-long motorway could be built; five dams equal to Atatürk Dam, Turkey’s biggest hydroelectric dam, could be established; a 400 kilometer-long metro system to major cities could be installed; a third bridge across Bosphorus built and 2 million homes could be built. After which $4.7 million would remain, enabling thousands of sports facilities to be established throughout the country.
After the economic crisis in 2001, total revenues  (more…)

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Targets met, but concerns for elections remain high

Posted by meb at January 29th, 2007

Turkish industrialists and businessmen were able to reach their targets for 2006, but their anxiety over presidential elections is still high in the new year.
 Hazim Sesli, chairman of the Young Businessmen Association of Turkey (TÜGİK), claimed that due to uncertainties arising from the elections in 2007, investors are unable to make concrete plans for future investment. (more…)

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THY: Our new goal is to get the ‘best cabin staff’ award

Posted by meb at January 29th, 2007

After receiving ‘the most punctual airline in Europe” and the “fastest growing airline in Europe” awards from the Association of European Airlines (AEA) in 2006, Turkish Airlines (THY) is now targeting the “best cabin staff” award for 2007.

General Manager of THY Temel Kotil said that with their new flight destinations, planes added to the fleet and modernized in-flight entertainment, THY is making a much more pronounced name for itself throughout Europe. During  (more…)

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