NEWS SCAN for Turkey – May 15th, 2013
Down below you will find a summary of topics from major Turkish papers and internet sites.
Turkey’s current deficit declines $383 million in first quarter 2013
The Central Bank has reported that Turkey’s current account deficit reached $5.4 billion in March 2013. This figure was US$ 4.9 billion in February and 15.9 billion in the first quarter which indicates a $383 million decrease over the same period of the previous year.
Experts say this positive progress could be attributable to a $264 million increase in foreign trade deficit, recording $17.05 billion, and a $823 million increase in net services income, mainly in tourism incomes.
The cumulative current account deficit decreased to $47.1 billion in March from $48 billion. Analysts said that this happened because the Turkish economy has been growing slower than the expectations.
PM Erdoğan has the honor to become first Turkish leader greeted with US military ceremony
It is reported that Turkish Prime Minister Recep Tayyip Erdoğan has become the first Turkish leader to be greeted with a US military ceremony at an airport in Washington in a sign of strong ties with the United States.
Washington does not often welcome visiting officials with an official military ceremony at the airport.
US Chief of Protocol Capricia Marshall; Washington Joint Base Andrews naval air base Commander Col. Micheal Hess and his wife; Turkey’s Ambassador to Washington, Namık Tan; and US Ambassador to Turkey Francis J. Ricciardone greeted Erdoğan at the airport.
Japanese e-commerce giant Netprice buys shares of Turkishe-commerce companies
Japanese Netprice is reorted to have acquired 20 percent stakes of two companies operating under the Turkish e-commerce platform Akakce.com which receives 4 million visitors monthly allowing its users to do price comparisons from e-retailers, virtual marketplaces and discounts sites for a particular product.
This is recorded to be the first Japanese investment in Turkey’s growing e-commerce sector. A substantial growth in the Turkish E-commerce sector has been observed over the last 5 years and the percentage of mobile platforms in this trade is forecasted to reach 30 percent within 2 years.
Egyptian PM Kandil has invites Turkey to invest in Suez Canal
The Egyptian government wants to turn the Suez Canal which is one of the world’s the most important waterways into a “development corridor” by establishing industrial zones on the left and right banks of the canal. Accordingly Egyptian Prime Minister Hesham Kandil invited Turkish firms to invest in the Suez Canal.
It is recorded that fees from ships passing by is a substantial contribution to the Egyptian economy. The government however would like to increase this figure as there are industries on the right and left side banks of the canal and with proper logistical services, could go up to 100 billion a year.
Kandil who met Turkish businessmen at the Turkey-Egypt Business Council meeting on May 10 said ” The trade between two countries hasd an upward trend and Egypt should not be seen as a single country with 85 million people but it should also be viewed as the door to Africa’s 2 billion people”.
Turkey will save US$ 12 billion thanks to F-35 Joint Strike Fighter program
It is reported that Turkey expects to earn USD 12 billion by the end of the F-35 project in 2039 thanks to its member status in the the F-35 Joint Strike Fighter project.
This statement was made b y a senior executive of the U.S. aerospace industries company Lockheed Martin at the 11th International Defense Industry Fair (IDEF) 2013 held from May 7 to 10 in Istanbul.
Based on the program 3,100 jets are planned to be built by 2039 meaning a a business worth around USD 12 billion for Turkey.
Turkish Hattat Holding and Chinese company sign deal to build coal-based power plant in Amasra
It is reported that Turkey’s Hattat Holding and Harbin Electric International, a Chinese company have signed a deal to build a coal-based power plant in Amasra, in the Black Sea province of Bartin, Turkey.
The plant is planned to run on locally produced coal with a total capacity of 2,640 MW.
It is reported that companies will invest around USD 2.4 billion in the project. The Harbin Electric International produces technical equipment that has the capacity to generate 40,000 MW of power annually, and has power plant projects in more than 20 countries.
Experts say such investments in Turkey show the attractiveness of Turkey for foreign investors.
15.05.2013
SOURCE: MEDIA
We do not verify above stories neither do we vouch for their accuracy.
