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Volkswagen establishes unit in Turkey ahead of production decision

Volkswagen has established a subsidiary in Turkey’s western Manisa province, the country’s Trade Registry Gazette showed on Wednesday, as the company nears a final decision on...
Business

Foreign tourist numbers in Turkey up 15 percent in first 8 months of 2019

Turkey’s tourism sector has been experiencing a boom in 2019, with foreign visitor numbers rising by nearly 15 percent year-on-year in the first eight...
Business

Fitch eases 2019 contraction forecast for Turkey: report

Fitch ratings has revised its contraction forecast for Turkey from 1.1 percent to 0.3 percent, stating that the country’s economy performed better than expected during the second...
Business

Thomas Cook owes Turkish tourism sector more than €350 mln

Turkey’s Tourism Advisory Council said on Tuesday it estimates that Thomas Cook owes the local sector more than 350 million euros ($381.08 million), adding that it...
Business

Turkey’s banks see 14 pct drop in net profits

The net profits of Turkey’s banking sector saw a year-on-year decline of 14 percent in the first eight months of 2019, falling to TL 32.8 billion...
Business

Turkey raises economic growth forecast for next year to 5 pct: report

Turkey raised its economic growth forecast on Monday to an ambitious 5 percent for next year and lowered its inflation outlook to 8.5 percent, as the...
Business

Turkey’s economic confidence slightly decreases in September

Turkey’s economic confidence index slightly decreased in September, from 87.1 points in previous month to 86 points, according to the Turkish Statistical Institute (TurkStat). The...
Business

Volkswagen nears decision to build car plant in Turkey: report

German carmaker Volkswagen is nearing a decision on building a new plant in Turkey, a board member told reporters in Berlin on Thursday, according to Reuters. “We...
Business

Turkey’s central bank governor says recent steps were ‘front loaded’

The head of Turkey’s central bank on Wednesday described recent policy steps as “front loaded,” after the bank slashed its key interest rate by 750 basis...
Business

UK remains main provider of foreign investment in Turkey: ministry

The UK remained the main provider of foreign direct investment (FDI) to Turkey, with nearly $631 million inflow in the first seven months of this year,...
Business

Turkey still susceptible to external and domestic risks, says IMF: report

Turkey remains susceptible to external and domestic risks, the International Monetary Fund IMF) said on Monday, while strong, sustainable growth would be challenging without further reforms...
Business

Turkey could miss out on some 700,000 tourists a year after British company collapse: report

Turkey could miss out on 600,000-700,000 tourists a year following the collapse of British tourism agency Thomas Cook on Monday, the head of Turkey’s Hoteliers Federation...
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