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 AK Party Wins Big Despite All Odds |  The ruling Justice and Development Party (AK Party) won a landslide victory in yesterday's general elections, leaving its nationalist rivals far behind as it secured an unparalleled 46,9 percent of the national vote, comfortably ensuring that it will again form a single-party government.
The center-left but nationalist Republican People's Party (CHP), the closest rival of Prime Minister Recep Tayyip Erdoğan's AK Party, won 20,7 percent of the vote, finishing the race close to the far-right Nationalist Movement Party (MHP). The MHP secured a return ticket to Parliament, following a five-year break, with 14,3 percent. The results reflected 98 percent of the votes having been counted when Today's Zaman went to print.
Yesterday's vote came in a highly polarized political atmo continue... |
| | A Contest To Decide Turkey's Future |  [Financial Times]
This Sunday's general election in Turkey is historic. It was called to resolve a stand-off between the neo-Islamist government of Recep Tayyip Erdoğan and the army-led secular establishment over the election of the next president.
It is far from clear how this contest will settle that constitutional crisis, which, furthermore, has found little resonance in the daily battle for votes. That is perhaps because the real importance of this election is that it is about the future and the nature of the Turkish republic. The signs are that Turks do not like their leaders playing politics with issues such as secularism or institutions like the presidency. They will probably, and deservedly, give the AKP a majority, but hopefully boost republican an continue... |
| | Oyak: ING Deal Adds Value To Economy |  Oyak, the Turkish army pension fund, stated that the upcoming sale of its subsidiary Oyak Bank for the Dutch ING Group will lead the development of the financial sector in Turkey. The $2.67 billion (2 billion euros) deal was announced on Tuesday and is expected to be complete by the end of the year. Oyak is also planning to start investing in energy and in foreign assets in the near future. Commenting the unconfirmed rumour that some members of the Turkish military have allegedly questioned the deal, Oyak's CEO Coskun Ulusoy noted that army pension fund would not have sold its subsidiary bank unless it considered ING Group a trustworthy buyer. foreign investors are these days entering the Turkish banking sector. We have created added value to the Turkish economy in the past years [with continue... |
| | Turkey Moves To Balance Russia's Influence In Central Asia |  Turkey's Energy Minister Hilmi Güler said on Friday that Turkey and natural gas rich Turkmenistan agreed to review a gas agreement from 1998 which has never been implemented, in a move to balance Russia's attempt to block Turkmen deals with western countries. agreement will be revised and put into effect," Güler said in a press conference at the end of his four-day visit to Turkmenistan and Kazakhstan. Güler's visit followed a series of agreements Russia made with both countries to secure gas and oil pipelines passing through its own territories.
According to an agreement signed on October 29, 1998 Turkmenistan promised to sell around 30 billion cubic meters natural gas to Turkey. Of this 14 billion cubic meters would be transferred to European markets via pipelin continue... |
| | S. Korean Businessmen: We Will Work For Turkey's Success |  South Korean businessmen have said they had toiled to develop their own country and that now they will do the same for Turkey. Park Seh Jik, chairman of the Korea Veterans Association (KVA) and the second most prominent person after South Korea's president in times of war, advised Turkey to work hard to catch up to the developed world. "The hurdles and problems can only be overcome through boosting economic welfare," he said. The prominent South Korean businessmen were in Turkey yesterday to attend a meeting on the occasion of the 50th anniversary of the start of diplomatic relations between the two countries. However, the main issue discussed throughout the meeting was commercial relations and the participants contemplated ways to increase trade volume. The meeting continue... |
| | Turkish Exports To China May Exceed $1 Bln For First Time |  Turkish exports to China have increased by 50 percent in the last eight months, said Minister for Foreign Trade Kürşad Tüzmen, adding that exports may exceed $1 billion at the end of 2007 if the trend continues. Speaking at the opening of the Turkish-Chinese Business Forum on Sunday, Tüzmen touched on Turkey's upcoming general elections. He said while there were controversial events occurring along the country's southeastern border, holding the 15th Joint Economy Council meeting was a sign of the importance they attached to relations between Turkey and China. Tüzmen said China was on track to become the world's largest economy in 10 years. Turkey and China are located on the two end points of the historical Silk Road --the trade route between Anatolia and the Pacific continue... |
| | Turkey's Textile Exports |  The Turkish textile and apparel industry makes approximately 8 percent of the country's GDP, and 20 percent of its industrial production. Istanbul Textile and Apparel Exporter Associations (İTKİB) estimates that 24 percent of manufacturing labor force in Turkey works in the textile industry. In 2005, Turkey was the eleventh largest textile supplier in the world. In 2006, the textile industry made 23 percent of Turkish export earnings, with a volume of $19.7 billion. Exporting volume in 2006 consisted of clothing (400,000 tons and 1.9 billion pieces), knitted fabric (130,000 tons), woven fabric (300,000 tons) and carpets (130 million m2). According to İTKİB, the leading export markets for Turkish textiles are Italy, the Russian Federation, Germany, Romania and the United States. A continue... |
| | Turkish Labels Collaborate To Reach Global Market |  Turkish brands that are members of the “Fast Movers Club" will benefit from all Multi Turkmall investments. The first major leap of these Turkish brands will be placement in shopping malls that Turkmall is planning to open in China, Bulgaria and Ukraine. A new group called the "Fast Movers Club" is taking Turkish brands one-step closer to becoming “a global brand.” The Fast Movers Club was formed by and is comprised of Turkish retailer brands. It will join forces with Multi Turkmall, one of the leading shopping center (AVM) investors, in order to secure store space for each Club member in any future shopping malls that Multi Turkmall builds. sides will benefit from this collaboration. The shopping mall will not have to contemplate whether they can find rent continue... |
| | World Economic Growth Will Slow Down |  The world economy is expected to grow by 4.9 percent this year, and by a similar amount in 2008, according to forecasts by the International Monetary Fund (IMF) and World Trade Organization (WTO). Last year global grown averaged 5.4 percent, with total exports at $11.8 trillion and imports $12.1 trillion. The growth rate of developed countries was 3.1 percent, while developing countries grew 7.9 percent on average. Among developed countries the growth rate of the US was 3.3 percent; the Eurzone, 2.6 percent; and Japan, 2.1 percent. High growth rates in developing countries stemmed from low interest rates and high global liquidity. In terms of foreign trade Turkey ranked 22nd in exports and ranked 15th in imports. continue... |
| | YTL 618 Billion Allocation to R&D |  Turkey will spend YTL 618 million for research in 2007 as part of the national science and technology strategy.
Total governmental allocations to the Scientific & Technological Research Council of Turkey (TÜBİTAK) between 2004 and 2007 have increased to YTL 2.3 billion, while it was only YTL 1.8 billion between 1964 and 2003. Turkey has enhanced the scientific research budget as part of efforts concerning its integration process with the EU. To this end, the research and development (R&D) allocation has been set at 50.5 billion euros for the 2007-2013 period. R&D expenditures are expected to be increased up to 2 percent of the gross domestic product (GDP) in 2010. continue... |
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