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Turkey

Turkish National Bank to Increase Key Rate

In the fight against the downgrade of the Turkish Lira, the Central Bank of the Republic of Turkey (CBRT) has increased the key rate unexpectedly.

August 20, 2013

Turkey Wants to Stop Capital Outflow

The Turkish government plans to attract more investors. By lower taxes, foreign capital of Turkish nationals should come back to Turkey.

August 17, 2013

UniCredit: No Withdrawal from Hungary

CEO of UniCredit Federico Ghizzoni has rejected rumors about disengagement plans from Hungary.

August 7, 2013

Credit Crunch in CESEE?

The capital outflow in the CESEE region accelerates. The European Bank for Reconstruction and Development (EBRD) fears negative consequences for the real economy.

August 7, 2013

UniCredit to Focus on Poland, Turkey and Russia

UniCredit´s CEO pursues a selective growth strategy. The Austrian subsidiary recorded losses in the retail segment.

August 6, 2013

Turkey: Banking Sector Improves Profitability

In the first six months of 2013, net income of Turkey´s banking sector was up by 20%.

August 6, 2013

CESEE Remains Attractive for Austrian Investors

According to a survey, the region of CESEE is still attractive to Austrian investors. Particulary the bigger countries – Poland, Turkey and Russia – are becoming even more popular.

August 1, 2013

Turkey: Tear Gas Against Protesters Again

Once more, the Turkish police uses tear gas to fight off protesters.

August 1, 2013

Trend: Service Industry Drifts to CESEE

Lower costs in the service sector in CESEE countries, particularly Romania, are compensated by higher expenditures in securing quality standards.

July 30, 2013

Austria: Increased Demand in Romanian Exports

For the first time, Austria has imported goods from Romania exceeding the amount of € 1bn. Metals and machines are on top of the list of imported Austrian goods in Romania.

July 24, 2013

Turkish National Bank Raises Base Rate

Today, Turkey´s National Bank has increased the base rate from 6.5% to 7.25%. Turkey wants to prevent a devaluation of the lira.

July 23, 2013

Erdogan Attacks Banks

Turkey´s Prime Minister wants to strengthen his fight against the over-indebtedness of private Turkish households. According to Erdogan, banks are responsible for the unfavorable situation.

July 18, 2013

Turkey Considers Economic Re-Orientation

The Turkish government wants to shift its economic focus from Europe to Asia.

July 18, 2013

Turkey Suffers from Massive Capital Outflow

Due to the mass protests and the sharp political reactions, investors became suddenly much more cautious.

July 17, 2013

EU: Trade Surplus with Turkey Grows, Trade Deficit with Russia Shrinks

Euro area international trade in goods surplus 15.2 bn euro.

July 17, 2013

Moody´s Cuts Bank Austria´s Rating

According to the U.S. rating agency, the creditworthiness of the biggest Austrian bank has worsened. The expansion program in Russia and Turkey is seen as significant risk factor.

July 16, 2013

Turkey: BIST Formed Partnership with US NASDAQ

Turkey's Borsa Istanbul (BIST), one of the most profitable stock markets in the emerging world, has formed a strategic partnership deal with the US-based NASDAQ OMX Group, the owner and operator of NASDAQ stock market.

July 12, 2013

Turkey: Gezi Protests Claim Fifth Life

A 19-year-old, who was seriously injured during the protets against the government in Turkey, has died in hospital. The number of fatalities has now risen to five, according to press agency Dogan.

July 10, 2013

Turkey: Gezi Park And Taksim Square Closed Again

Only a few hours after the reopening of Gezi Park, the police in Istanbul once more used violence against demontrators as they wanted to get inside.

July 9, 2013

Turkey: Government Alleged to Have Known About Project Fail

A week before the forceful clearing of Gezi Park in Istanbul, the Turkish government was supposed to know about the fact that it had lost before court with its constructions plans. Protests went on, despite of that.

July 5, 2013

Turkey: Court Forbids Reconstruction of Taksim Square

Controversial construction project led to protests and brutal police force.

July 3, 2013

Turkey Becoming Important Global Investor

According to the latest survey by UNCTAD, Turkey has become an important investor.

June 28, 2013

EU Ready for Continuing Accession Talks

The European Union’s Foreign Ministers have agreed for the continuing of Accession negotiations with Turkey.

June 25, 2013

Turkey: Prospects of EU Accession Talks Brighten

Turkey’s prospects of the continuing of the EU Accession negotiations have brightened. During a meeting in Luxembourg several foreign ministers took a much more moderate tone.

June 24, 2013

No Further EU Accession Talks with Turkey

The European Union is obviously going to blow the planned accession negotiation with Turkey next Wednesday because of the recent escalations of violence in the capital Ankara.

June 20, 2013

Turkey: Protests About to Escalate

Further unrests after forceful clearing of Gezi Park.

June 17, 2013

Turkey: Erdogan Gives In

In the dispute about Gezi Park in Istanbul, which has led to weeks of protests and even violence, the Turkish government leadership now wants to give in.

June 14, 2013

Bulgaria: Sofia One Of Best European Destination for Manufacturing

The Bulgarian capital Sofia was labeled as one of the best destinations for opening a manufacturing plant in Europe.

June 13, 2013

Turkey: Erdogan Considers Referendum

After international criticism was voiced for the use of tear gas by the Turkish police against tens of thousands of demonstrators, Prime Minister Recep Tayyip Erdogan raised the issue of a referendum.

June 13, 2013

Turkey: Taksim Square Forcefully Cleared

Protests expected to continue despite of severe measures.

June 12, 2013

Turkey: Police Force Attacks Protesters At Gezi Again

Turkish Prime Minister Recep Tayyip Erdogan seems ready for talks with representatives of the demonstrators, who will be received by him on Wednesday. However, earlier he has demonstrated inexorable hardness.

June 11, 2013

Turkey: Erdogan Demands Peaceful End Of Protests

After his return from Northern Africa, Turkish Prime Minister Recep Tayyip Erdogan has demanded an immediate stop of protests in his country. Many Russian investors are supposed to have drawn their assets from Turkey.

June 8, 2013

Turkey: More Than 4,000 Injured

Three persons have now lost their lives in the protests. 43 persons are in critical conditions. Erdogan announced to keep to the controversial project.

June 6, 2013

Papa: CEESE To Keep Growth Advantage

Deputy CEO of Bank Austria Papa sees a long-term potential in CESEE countries. Bank Austria is expecting a growing credit business apart from the favorable economic outlook in the region.

June 6, 2013

Turkey: Protests Continue

After trade union KESK aligned with demonstrators, the government offered a chance for negotiations for the first time.

June 5, 2013

Turkey: Protests Claimed Life of At Least One Person

According to the medical association at least one protestor was killed in Istanbul. Despite of unequaled violence by the police protests against Prime Minister Erdogan will not break down.

June 3, 2013

Turkey: Next Step Towards EU

According to Reuters, Turkey can now hope for its long-awaited next step towards an EU entry in June. France has lifted its opposition to the country’s EU Accession talks. Experts point out the great economic potential the country offers.

May 28, 2013

Turkey Wants FTA with US

Turkey is eager for a free trade agreement (FTA) with the U.S.

May 24, 2013

Joint Nabucco-Declaration Signed by Governments

Austria, Hungary, Romania, Bulgaria, Turkey adopt Nabucco joint declaration.

May 22, 2013

US and Turkey to Establish High-Level Committee For Trade and Investment

US and Turkey intend to boost bilateral relations and trade, President Obama and Prime Minister Erdogan announced.

May 17, 2013

Bosnia, Serbia and Turkey to Sign Economic and Trade Agreement

Ministers for trade and economy from Ankara, Belgrade and Sarajevo agreed to improve economic relations in an effort to enhance shared trade.

May 15, 2013

Gazpromneft-Aero Signed Major Contract With Turkish Airlines

Gazpromneft-Aero signed a long-term contract with the Turkish airline transport company to refuel all flights.

May 8, 2013

Istanbul to Receive € 22bn for World's Largest Airport

Today, a Turkish construction consortium has secured itself a record sum of around € 22bn for the contract of the construction of the world’s biggest airport in Istanbul.

May 3, 2013

Turkey: CEZ Partner to Sell Stakes

CEZ's Turkish JV partner Akkok in talks about possible sale of its stake in SEDAS

April 30, 2013

Romania: OMV Petrom, Exxon And Transgaz To Team Up

According to Romanian officials, OMV Petrom, Exxon and Transgaz might partner to transport the Black Sea gas onshore.

April 30, 2013

Verbund AG: Closing of The Asset Swap With E.ON

Verbund, Austria’s leading electricity company, and E.ON, one of the world’s largest energy providers, finalised the asset swap that was signed on 3 December 2012.

April 26, 2013

Turkey's Borsa Istanbul Second Most Lucrative in The World in March

The Borsa Istanbul 100 (BIST 100) index provided the second biggest yield in March worldwide, following the Buenos Aires Bourse.

April 25, 2013

Turkey: Economy Performing “Wonderfully”

Turkey has been performing wonderfully since the latest global economic crisis, according to a senior official at the World Bank responsible for Turkey.

April 24, 2013

US KFC And Pizza Hut Brands Officially Sold In Turkey

US Corporation Yum! Restaurants International, which is active in more than 125 countries, has officially acquired 65 KFC and 41 Pizza Hut restaurants in Turkey from Szer Group.

April 23, 2013

Former Polish President: “EU Needs Ukraine”

In an interview with Polish news magazine Wprost, former Polish president Aleksandar Kwasniewski explains that in the future, the EU will need Ukraine.

April 22, 2013
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