If you are looking at investing in Turkey, you are probably asking yourself if the latest moves by President Recep Tayyip Erdogan will create a more stable or less risk-averse investment environment. Earlier this month, President Erdogan announced several economic reforms that included a more secure climate for foreign investment backed by an effective and efficient judicial system. Justice Minister...
Owned by the British Helios Investment Partners, the UAE-based payment services provider TPAY Mobile has acquired Payguru, a Turkish payment platform. “We are proud to have carried out a successful and profitable business within 5 years through organic growth and with no external fund. We are delighted to be joining TPAY Mobile, a leading actor in the region, " CEO of Payguru, Işık Uman,...
The International Hydropower Association released a report entitled 2020 Hydro-power Status Report, in which Turkey was ranked as the second largest hydro-power producer in Europe. Turkey’s total hydro-power capacity of 28,503 MW accounted for 31 percent of the nation’s entire electrical generation capacity at the end of 2019. It was highlighted that Turkey enhanced its capacity by 219 MW...
Despite COVID-19's ravaging impact on global air traffic bringing global aviation to a near halt, airports in Turkey’s metropolis Istanbul hosted more than 20 million passengers in the first half of 2020. According to the data released by the General Directorate of State Airports Authority (DHMI), Istanbul's all three airports Atatürk Airport, Sabiha Gökçen Airport and Istanbul Airport...
President Recep Tayyip Erdoğan announced that Turkey’s dependency on foreign defense supplies, once as high as 70 percent, has now dropped to 30 percent. Attending the inauguration ceremony of Roketsan’s satellite launch on August 30, President Erdoğan delivered a speech to the audience. He underlined Turkey’s surging domestic production and falling imports in the defense...
Globally regarded as an authoritative publication on the construction industry, the Engineering News-Record (ENR) published a list ranking the top 250 international contractors, nearly one-fifth of them are Turkish. Trade Minister Ruhsar Pekcan disclosed that 44 Turkish contracting firms featured in the 2020 Top 250 International Contractors list compiled by ENR. Turkey ranked 2nd in terms of...
President Recep Tayyip Erdoğan delivered messages of investment, production, export, and a robust Turkey at various events he attended this week. “Our country is continually proving to be a rising investment, production, and trade hub," stated President Erdoğan at the Turkey Economic Council held by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) on November 18. Addressing the...
At a time when almost all economies in the world have been staggering under the burden of the COVID-19 outbreak, Turkey managed to handle this period with trivial damage and ended the 3rd quarter of 2020 with a noteworthy performance. According to the data of the Turkish Statistical Institute (TurkStat), Turkey's economy posted a growth rate of 6.7 percent in 2020 Q3 and the GDP at current prices...
Turkey and Qatar partnered up on a wide range of occasions at the sixth meeting of the Turkey-Qatar Supreme Strategic Committee jointly chaired by President Recep Tayyip Erdoğan and his Qatari counterpart Sheikh Tamim bin Hamad al-Thani at the Presidential Complex in Ankara in late November. During the meeting, the two countries inked a number of new agreements, including: Sales of a 42 percent...
President Recep Tayyip Erdoğan announced that Turkey's natural gas reserve already discovered in the Black Sea reached 405 billion cubic meters, right after inspecting the drilling vessel Fatih on board on October 17. “On August 21, the good news of the 320 billion cubic meters of natural gas reserves discovery had already been given to our nation. In the wake of the tests, analyses and detailed...
