Following the 2012 enactment of the new capital markets law, the Istanbul Stock exchange was merged with the Istanbul Gold Exchange and renamed Borsa Istanbul. Following a dismal performance in 2011, equity markets staged a dramatic recovery in 2012, with the dollar-based version of the Borsa Istanbul’s broadest index, the BIST 100, coming within 4% of its record high in January 2013. The government’s…
The Turkish banking sector has suffered from a pattern of booms and lulls in the past, and, as a result, a number of policy reforms have been instituted to improve regulation. The sector looked to be starting a process of maturation in 2013 as it continued to record solid growth without overheating, with lending growing at an annualised rate of 16% in the first two months of 2013. The efforts being…
The Turkish government is working to advance a resolution process that could remake domestic politics and enhance its foreign policy clout. A 28-year conflict with the autonomy-seeking Kurdistan Worker’s Party (PKK) has cost over 40,000 lives, has held back economic growth and hampered Turkey’s bid for EU membership. Recent peace talks with the leader of the PKK, Abdullah Öcalan, led to a ceasefire…
Turkey has had an impressive decade of expansion that saw GDP rise from $196bn in 2001 to $787bn in 2012, or about $10,400 per capita. Since 2001, real growth has averaged more than 5% per year, an extraordinary rate for a middle-income country that imports most of its raw materials. A young and mobile population provides a natural tailwind to growth, while a high level of diversification in terms…
The Turkish government is hoping talks aimed at ending the long-running conflict with Kurdish separatists will bring not only peace to the east and south-east of the country but also a wave of investments, with the industrial sector tipped to be one of the main beneficiaries. However, it will take many years to redress decades of underdevelopment, and close cooperation will be required if the region…
Oxford Business Group is pleased to announce its media partnership with the Turkey & Neighbours Hotel Investment Conference (CATHIC) 2013 which will be held on 29 – 30 May, in Turkey. In this respect we send you the following message from the conference organisers: Dear Oxford Business Group Subscribers, CATHIC 2013 Programme Released The Turkey & Neighbours Hotel Investment Conference (CATHIC) 2013…
Despite slowing growth and expectations of a widening current account deficit this year, investors do not appear to be shying away from the Turkish economy, particularly as the easing of political tensions is likely to yield an upgrade in the country’s investment ratings.Economic growth slowed to 2.2% in 2012, a sharp decrease from the 8.5% and 9% recorded in 2011 and 2010, respectively. According…
Oxford Business Group is pleased to announce its media partnership with the Tourism Technology Summit which will be held on 19 April, in Turkey. In this respect we send you the following message from the conference organisers: Dear Oxford Business Group Subscribers, As Young Tourism Proffessional Association, we organised “Tourism Technology Summit” to talk about the “ Tourism Technology”…
Plans to consolidate Turkey’s position as an energy transit bridge appear to have suffered a setback, with a major project to connect the Black Sea and the Eastern Mediterranean put on hold by both the Turkish government and one of the scheme’s key investors, though for different reasons.There is already an extensive network of pipelines carrying both oil and gas running across Turkey, with connections…
