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COUNTRY PROFILE Growing influence: The country is a political and economic link between the West and the Middle East POLITICS New realities: Recent years have brought a remarkable political transformation Setting an example: Regional peace is high on the agenda as the country seeks to strengthen its role model status Viewpoint: Prime Minister Recep Tayyip Erdoğan Interview: Ahmet Davutoğlu, Minister of Foreign Affairs Interview: Rifat Hisarcıklıoğlu, President, Foreign Economic Relations Board The only show in town: High-profile investigations and court cases are dominating the headlines Viewpoint: Joe Biden, US Vice-President ECONOMY A country transformed: Growth is expected to continue at a measured pace Facilitating business: While the country is moving up in the rankings, there is still plenty of room for improvement Interview: Ali Babacan, Deputy Prime Minister Raising revenue: Fresh bidding rounds are under way for privatisation of state assets Interview: Mustafa Koç, Chairman, Koç Holding Interview: Hüsnü Özyeğin, Chairman, FIBA Holding A win-win relationship: Recent years have seen a jump in trade with Gulf states Towards 100: Setting the long-term sights high Viewpoint: Jim O’Neill, Chairman, Goldman Sachs Asset Management BANKING Strong strategies, good growth: As banks expand financial practices, the sector benefits Interview: Mehmet Şimşek, Minister of Finance Viewpoint: Erdem Başçı, Governor, Central Bank of the Republic of Turkey Alternatively growing: Online and mobile banking cast a wide net for new customers Big lenders: Critical changes and growth signs Roundtable: Martin Spurling, CEO, HSBC Turkey; Adnan Bali, CEO, İş Bankası; and Hüseyin Aydın, General Manager, Ziraat Bankası As the market swings: The sector’s response to a rapidly shifting monetary policy CAPITAL MARKETS On the rebound: The prospects are bright after a tough year in 2011 The next big thing: Legal changes have paved the way for the growth of Islamic bonds Interview: Vedat Akgiray, Chairman, Capital Markets Board Interview: İbrahim Turhan, Chairman and CEO, İMKB Borsa Istanbul Taking the middle ground: Significant opportunities open to private equity investors Viewpoint: İlhami Koç, General Manager, İş Investment Stocks & Bonds: Share analysis & data provided by İş Investment Türk Traktör: Agricultural equipment Arçelik: White goods Halkbank: Banking TAV: Transport Tüpraş: Hydrocarbons Turkcell: Telecoms INSURANCE Cleared for take-off: Strong growth potential continues to attract the attention of foreign providers Opening the door: Government-driven changes are set to make pensions more attractive ENERGY Power plays: Transit, pipeline and renewable projects are all in the works So crazy it just might work: A massive canal may one day reshape Istanbul Interview: Taner Yıldız, Minister of Energy and Natural Resources Interview: Alexander Medvedev, Director-General, Gazprom Export It’s in the pipeline: Investments in the oil and gas infrastructure continue Interview: Tony Hayward, CEO, Genel Energy Water world: Hydroelectric power plants are a major renewable energy source Interview: Rövnag Abdullayev, President and CEO, SOCAR Push for renewables: Turning to wind, sun and water to boost energy security and protect the environment INDUSTRY Gaining ground: Building a global reputation for exporting high-quality products Interview: Hüseyin Özdilek, President, Özdilek Holding Interview: Tuncay Özilhan, CEO, Anadolu Group Steel resolve: Production of steel remains strong Interview: Muharrem Dörtkaşlı, President and CEO, Turkish Aerospace Industries A driving force: Automobile production has been increasing steadily In the zone: Industrial parks provide incentives for both local and foreign investors CONSTRUCTION & REAL ESTATE Planned development: Urban renewal programmes and infrastructure projects Interview: Ahmet Haluk Karabel, President, Housing Development Administration Interview: Avni Çelik, Chairman, SINPAŞ Further afield: Contractors working abroad Rising star: Increased demands in both the residential and commercial markets Buyers from abroad: A proposed law will make it easier for foreigners to purchase property Interview: Erman Ilıcak, Chairman, Rönesans Holding Viewpoint: Anthony Khoi, President and CEO, Aerium Turkey TRANSPORT More ways than one: Multiple projects are under way for continued economic growth In stops and starts: The privatisation portfolio includes a number of big-ticket items Interview: Binali Yıldırım, Minister of Transport, Communications and Maritime Affairs Interview: Temel Kotil, CEO, Turkish Airlines AGRICULTURE New pastures: A varied climate and fertile soil make the country a breadbasket for the region Interview: Recep Konuk, Chairman, Konya Şeker Out in the country: Gulf states look to acquire farmland to meet growing demand at home TELECOMS & IT Staying in touch: The growth of the mobile sector and internet is driving competition and innovation among providers Come together: Sector players seek to expand their reach into different segments Interview: K. Gökhan Bozkurt, CEO, Türk Telekom Interview: Süreyya Ciliv, General Manager, Turkcell Technological upgrade: A growing population of web users is driving demand Need for speed: Investments by operators are leading to faster internet connections EDUCATION & HEALTH A growing dynamism: Increasing state investment and an expanding private role Interview: Zekeriya Yıldırım, Chairman, Darüşşafaka Foundation Investing in the future: Competition is growing Comprehensive growth: A rising economy is creating opportunities for expansion Interview: Recep Akdağ, Minister of Health Growth spurt: A wave of private investment TOURISM Making room for more: A promising future Interview: Kadir Topbaş, Mayor of Istanbul Neighbourhood guests: Closer regional ties are helping to boost the number of visitors MEDIA & ADVERTISING Put it to print: Legal reforms create opportunities Refreshing the page: Providing content in new and innovative ways Interview: Hanzade Doğan Boyner, Chairwoman, Doğan Online Going digital: Social media and online advertising are taking hold Connected to the market: Popular internet platforms are the targets for sector growth TAX Deloitte Turkey New principles: The updated commercial code will boost transparency and auditing standards A business-friendly package: Incentives and other recent tax developments Legal liabilities: Ins and outs of Turkish tax law Viewpoint: Anthony Wilson, Partner in Charge, Deloitte Turkey LEGAL FRAMEWORK Hergüner Bilgen Özeke Modernising corporate law: An up-to-date legal code will make for a healthier economy Change for the better: An overview of the current legal landscape Viewpoint: Ümit Hergüner, Managing Partner, Hergüner Bilgen Özeke THE GUIDE Art boom: Greater importance is being placed on arts and culture Soap power: The success of Turkish television Rewriting pre-history: Excavations at Göbekli Tepe have unearthed some spectacular finds Finding a place to stay: Hotels Listings: Important numbers Facts for visitors: Useful information

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