Posted by meb at April 30th, 2007
Turkey’s trade volume in free zones increased by 4.4 percent, and reached $5.6 billion in the first quarter of 2007.
According to data from Turkish Undersecretariat of Foreign Trade, despite the 7.2 percent drop of trade volume of Istanbul Free Leather Zone, the region made the biggest amount of trade with $1.4 billion in the first quarter of 2007.
Aegean Free Zone realized a trade volume of $992.1 million (more…)
Posted by meb at April 29th, 2007
Turkish Privatization Administration (OIB) scrutinizes bridge-motorway privatizations of the United States, Canada, Italy and France to create a model regarding the privatization of Turkey’s bridges and motorways, it was reported on Friday.
A consultant company has to be chosen to carry out a study regarding the matter. Sources indicated that the name of the company will be (more…)
Posted by meb at April 29th, 2007
The euro reached an all-time high against the dollar Friday as weak U.S. growth figures reinforced worries about a widening economic disparity between Europe and the United States. The surge will not be kind to Americans visiting Europe this summer, who will see the effect in prices for hotels in Rome, entrance fees at the Louvre and cherry beer in Belgium that feel higher.
The euro hit US$1.3682, shooting past its previous high of (more…)
Posted by meb at April 28th, 2007
The İstanbul Stock Exchange (İMKB) closed on Friday after a sharp decline of 2.02 percent amid discussions that the first round of the presidential elections had been attended by less than 367 deputies, a condition claimed by the main opposition Republican People’s Party (CHP) as the necessary quorum for the elections to be valid.
Another major reason behind the fierce fall, however, was the weak growth data of the US gross domestic product (1.3 percent), in the first (more…)
Posted by meb at April 28th, 2007
Turkish Central Bank Governor Durmuş Yılmaz has announced this year’s second inflation report yesterday.
It is forecast with 70 percent probability that the annual inflation rate will be within the range 4.5 to 7.1 percent, with a mid-point of 5.8 percent, at the end of 2007 — and within the range 1.3 to 5.0 percent, mid-point 3.2 percent, (more…)
Posted by meb at April 28th, 2007
South Korean auto producer Hyundai introduced its new Matrix model to the markets in a ceremony yesterday in İzmit.
Hyundai Motor Company’s Chairman and CEO Mong Koo Chung said at the event that 2007 was the 50th anniversary of the eternal friendship between Turkey and S. Korea and the 10th anniversary of the establishment of a factory in Turkey. He said Hyundai Turkey was the gateway for the company’s access to European markets. The factory in Turkey marked a major milestone for the company’s overseas investments, said Mong, adding, “The Turkish factory will produce the new Matrix model — which has strategic importance to the company - in addition to the existing (more…)
Posted by meb at April 28th, 2007
The ready-to-wear sector — Turkey’s former export champion until the end of the 2005 — is now the country’s third-biggest exporter, according April data.
The ready-to-wear sector was the country’s biggest exporter from 2000 to 2005, according to information from Undersecreteriat for Foreign Trade and Turkish Exporters’ Assembly (TİM) authorities. But by the end of 2006, it was surpassed by the automotive sector. This month it was also passed up by the iron and non-iron metals sector, causing the ready-to-wear sector to drop to third (more…)
Posted by meb at April 27th, 2007
Mövenpick Hotels & Resorts (MH&R), a Swiss international hotel chain that has been operating a hotel in İstanbul since 2003, is set to open two new hotels in Turkey, one in Bodrum, the other in İzmir. Jean Gabriel Pérès, president and CEO of MH&R, discussed their plans at a press conference at the Mövenpick Hotel İstanbul. “We have always believed in the potential growth of the tourism and business sector in Turkey. With our successful and well-established Mövenpick Hotel Istanbul and relationship of trust with our partners, we are confident in further developing the brand as well as the fruitful partnerships within Turkey,” he said. (more…)
