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Fitch Upgrades Turkey to Investment Grade
Fitch Ratings has upgraded the Republic of Turkey’s Long-term foreign currency Issuer Default Rating (IDR) to ‘BBB-’ from ‘BB+’ and the Long-term local currency IDR to ‘BBB’ from ‘BB+’. The Outlooks on the Long-term ratings are Stable. The agency has also upgraded Turkey’s Short-term foreign currency IDR to ‘F3′ from ‘B’ and the Country Ceiling [...]
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Barry Callebaut to build chocolate factory in Turkey
Building new chocolate and compound factory in Eskişehir, Central Anatolia, Turkey Production facility with an initial capacity of 15,000 tonnes to open mid-2013 Tapping the potential of a fast growing local chocolate market Zurich/Switzerland, October 31, 2012 – Barry Callebaut, the world’s leading manufacturer of high-quality cocoa and chocolate products, announced today the building of a [...]
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Harbin Electric signs deal with Turkish company for joint production
China’s largest power plant equipment producer Harbin Electric has entered into a partnership deal with Turkey’s Hattat Holding’s company of Hema Endustri for the manufacturing of boilers, generators, turbines and other components to be used in power plants utilizing resources such as hydro, wind, coal, natural gas, as well as nuclear to generate electricity. Planned [...]
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Sumitomo Rubber to Establish a Joint Venture In Turkey
Sumitomo Rubber Industries is establishing a new joint venture company in Turkey as part of our Group’s efforts to expand and develop our global tire business. The new company will serve as a strategic base for both production and sales of tires bound for the Middle East, North Africa and Russia, where we anticipate continued [...]
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UK firm pours EUR 75 million into Turkey wind plant, more underway
UK-based RES Energy is set to construct a 48 megawatts (MW) wind energy plant in the Black Sea province of Samsun, part of a company goal to increase its wind capacity inside Turkey by between 50 and 100 MW per annum. Construction for the planned plant in Samsun’s Havza is to begin by mid-2014 and [...]
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Turkey among European top 10 in wind power
Posted on 26 February 2012
Milliyet – Turkey’s new wind farms established last year added 470 MWs to the country’s installed wind power capacity, taking the total to 1,799 MW, according to the European Wind Energy Association (EWEA). The 36 percent increase means that Turkey is now among the top 10 European wind energy producers for the first time. Germany [...] Continue Reading
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Turkey’s internet tiger shows signs of stirring
Posted on 26 February 2012
Turkey has that most scarce, yet highly sought-after, attribute among European economies: growth. With this rising tide, is now the time for investors to be contemplating Turkey’s growing Internet economy? Certainly the statistics look good. According to the European Union, Turkey’s real gross-domestic-product growth for 2010 was 9%, compared to just 2% for the 27 [...] Continue Reading
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Turkish defense firm to produce turbojet engines
Posted on 26 February 2012
Turkish defense company Kale Aero, formerly known as Kale Havacilik, is set to produce turbojet engines for Turkey’s defense related projects. The subsidiary of the Kale Group signed a USD 25 million contract with the Undersecretariat for Defense Industries under the Ministry of National Defense to produce jet engines to power Turkey’s aircraft and missile [...] Continue Reading
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Italian firms seeking partnerships, cooperation opportunities in Turkey
Posted on 26 February 2012
Companies struggling in Europe’s debt-ridden economies look to Turkey for salvation. A delegation consisting of Italy’s leading industrialists under the organization of Confindustria took a trip to Turkey last week to seek partnership and cooperation opportunities, as well as to prepare ground for a larger gathering in May, the Turkish-Italian Business Forum. Thirteen representatives from [...] Continue Reading
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Exporters expect 7.28 % growth
Posted on 28 February 2012
TIM announced the results of the survey that analyzed the export performance of the last quarter of 2011 and projections for the first quarter of 2012. The growth expectation for 2012 is 7.28 %. The surveys conducted by the Turkish Exporters Assembly for two years and citing projections by exporters from production to employment, currency [...] Continue Reading
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World’s richest man looking at Turkey for investments
Posted on 28 February 2012
Mexico’s Carlos Slim Helu, the world’s richest man according to Forbes magazine, is searching for investment opportunities in Turkey, as he described the country as the “shining star of the globe”. Visited by the President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) / the Foreign Economic Relations Board (DEIK) Rifat Hisarcıklıoglu [...] Continue Reading