Turkey’s automotive production up by 31 pct for Jan.


Automotive production in Turkey surged 31 percent year-on-year in the first month of 2017, according to an Automotive Manufacturers’ Association (OSD) report released. The OSD said automakers manufactured 128,000 vehicles — including automobiles, light commercial vehicles and tractors in January 2017 , while automobile production advanced 61 percent to stand at 94,000 in the same period. The overall auto sales ...

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Turkey’s unemployment to fall to 9.5-10 pct


Turkey’s unemployment to fall to 9.5-10 pct by end of 2017 with new job campaign: Minister Turkey’s unemployment rate will fall to single digit figures by the end of 2017 thanks to a number of plans to boost employment, Labor and Social Security Minister Mehmet Müezzinoğlu has claimed. “With the positive impact of employment boosting steps, the unemployment rate will ...

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Energy cooperation would help peace on Cyprus


Turkish Cypriot President Mustafa Akinci said that if the negotiations for a resolution on the island end in success, Mediterranean gas reserves will help bring lasting peace to the island. Speaking to Anadolu Agency after attending the 13th Economic Cooperation Organization (ECO) Summit in the Pakistani capital Islamabad, Akinci also warned, “If there is no solution and compromise on the ...

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Turkey trade deficit shrank in Feb.


Exports rose 7.4 percent compared to January, according to new trade ministry data Turkey’s foreign trade deficit in February declined sharply from the previous month, preliminary statistics from the Customs and Trade Ministry showed. Exports in February were worth $12.12 billion, up 7.4 percent from the previous month while imports edged up 1.5 percent to reach $15.82 billion, according to ...

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World Cities Expo Istanbul to address smart cities of the future


As a part of the Big Smart Istanbul project, the Istanbul Metropolitan Municipality (IBB) now readies for an international event to be held on May 15-18 in Istanbul’s Haliç Congress Center. World Cities Expo Istanbul’17 will bring together nearly 3,000 business people and more than 300 international and national members of the press as well as over 10,000 professionals. More ...

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Turkey-Hungary aim to increase trade volume up to $5B


Science, Technology and Industry Minister Faruk Özlü told media members that Turkey and Hungary aim to increase their trade volume up to $5 billion and that the two countries are close to achieving the goal. Speaking at a joint press conference held with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó after the 5th Session of the Turkey-Hungary Joint ...

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Norwegian sovereign wealth fund invests $1B in Turkey in 2016


Norway’s state sovereign wealth fund, which is the world’s largest asset fund at approximately $900 billion, invested around $1 billion in Turkey by the end of 2016. The total value of the fund’s investment in Turkey reached $936 million at the end of December 2016, according to the information that Anadolu Agency compiled from Norges Bank data, which manages the ...

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EU’s security depends on Turkey’s stability


Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto has said the security of the European Union depends on Turkey’s stability. Speaking to Turkey’s state-run Anadolu Agency on the eve of the Turkey-Hungary 5th Joint Economic Commission meeting, Szijjarto said Hungary respects Turkey for housing the refugees. He said Hungary insists the EU pay the agreed bill for the refugees ...

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Turkey may become an energy exporter in next 10 years


Turkey may become an energy exporter in a decade’s time, Turkish Energy Minister Berat Albayrak has said. “Turkey, which spends $50 billion in energy and mineral imports every year, may turn into an energy exporter in the next 10 years,” Albayrak said Feb. 22 in a ceremony in Ankara to mark the 15th anniversary of the founding of sector regulator Energy Market ...

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