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Huge oil investment in Ceyhan

More foreign investment looks set to be poured in to the Turkish economy, with four major international companies on the verge of agreeing a deal to build an oil refinery in the Mediterranean port city of Ceyhan.New reports suggest that IndianOil and Turkish Calik Energi are in talks with KazMunaiGas of Kazakhstan and ENI of Italy, to invest in the joint venture.Plans are that the refinery will receive a supply of oil from the Trans-Anatolian Pipeline Project, which runs from northern Black Sea city of Samsun to Ceyhan. The pipeline, which will bypass the congested Turkish straits area, is...

24-08-2007 - read more...

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Gul close to presidency

Turkey's foreign minister Abdullah Gul is tipped to be named the country's next president on August 28th, in time for the country's Victory Day celebrations.He has come through two rounds of voting and needs a majority of votes in the third to win the presidential contest."I saw the support of my friends in my party and I announced my candidacy," Mr Gul said of his bid to become Turkey's eleventh president. Mr Gul is a member of the AK Party, who are currently in government. Among the forefront of their policies is a push for membership to the EU by 2012.Since the AK Party won their...

15-08-2007 - read more...

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Increase in tourism affects suppliers

As many as 48 different sectors are said to be affected by the rapid growth of the Turkish tourist industry in recent year, including detergent, ceramics, as well as food and drinks.A high demand for building material has also been cultivated by the development of property in Turkey - itself a consequence of the ever-expanding industry of tourism, reports the Turkish Daily News.Sales by suppliers to the hotels have doubled in the last six years to just under £2 billion, according to the Turkish Statistical Institute.Osman Ayik, chairman of the Mediterranean Association of Touristic...

09-08-2007 - read more...

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Property investors 'can seek advice from local experts'

Investors in property in Turkey can benefit by seeking advice from local experts. This does not have to entail learning Turkish and can equip investors with the advice needed to find a property in the country.According to the Turkish Daily News, investors can consult professionals at branches of the land registry office for information about taxes, legal fees and availability of mortgages.The publication said that overseas investors should be careful to ensure that the property they buy is not located in a designated military or security area where foreign nationals are legally not allowed to...

06-08-2007 - read more...

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