what
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Diversification, nuclear power stations, renewable energy (just look at the potential) and with a bit luck we might find our own gas or oil.
Turkish Economy - News & Updates
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Renewable energy is not an alternate it can only supplicate a little since Turkey consumes a lot of energy. Nuclear is good option and can be integrated with grids and will reduce the gas and oil burn for electricity production. Requirement of energy is almost all walks of life in modern world. BTC, TANAP, Nord Stream and NABUCO may, well help the Turkish energy sourcing.
In my view ultimately turkey needs to be energy producer and exporter for that they will have to target both organic and inorganic growth in energy sector. On the one hand they should carry on with exploration in black sea and Mediterranean sea on the other hand they should work on integration of already energy producing regions in its near abroad.
What I foresee that within a decade KRG and few other regions of Mesopotamia, Levant and Caucasus will merge with Turkey as autonomous provinces for mutual benefits. The decade is not far away and rapid changes in the region are already taking place so let’s see how the tide will turn.
Ir.Tab.
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TheCommander
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Organization for Economic Cooperation and Development (OECD) estimates that between 2013 and 2014, the increase in employment in Turkiye will multiply Europe by three times.
Organization for Economic Cooperation and Development (OECD) estimates that 1 million 47 thousand 203 more people will join the labor market in Turkiye in 2013 and 2014.
According to the OECD, Turkiye would multiply this figure, the 15-nation euro region to about 3 times
Türkiye Avrupa'y
Organization for Economic Cooperation and Development (OECD) estimates that 1 million 47 thousand 203 more people will join the labor market in Turkiye in 2013 and 2014.
According to the OECD, Turkiye would multiply this figure, the 15-nation euro region to about 3 times
Türkiye Avrupa'y
TheCommander
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Months after spat, Turkey and S&P fail on ratings deal
Standard & Poor's said on Monday it would no longer offer a full rating service for Turkey, ditching much of its work with the economically booming country eight months after a spat over a negative report.
The credit ratings agency said it had failed to reach a deal with Turkey and would in future only issue an "unsolicited" assessment -- meaning that it is not paid by the country to provide cover but does so anyway to meet investors' needs.
More broadly, it also said that as of Feb. 14 it would withdrawing all its ratings on individual Turkish debt, leaving only the rating on the sovereign's overall credit-worthiness.
Turkey's Treasury played down the move, noting it had reached deals with S&P's competitors Fitch and Moody's and did not expect the lack of a deal with S&P to affect markets.
The country responded angrily last May when S&P cut the outlook on its 'BB' sovereign credit rating to stable from positive. Prime Minister Tayyip Erdogan warned Ankara may no longer "recognise" the agency, calling its decision "ideological".
"We are converting our issuer credit ratings on Turkey to "unsolicited" as we no longer have a rating agreement with this sovereign," S&P said in a statement.
"We will nonetheless continue to rate Turkey on an unsolicited basis because we believe that we have access to sufficient public information of reliable quality to support our analysis .... and because we believe there is significant market interest in this unsolicited rating."
S&P rates Turkey at BB, two rungs below investment grade. Fitch has raised it to investment grade at BBB- and Moody's just below investment grade at Ba1.
"The government is ... probably sending a non-too-disguised message that it sets little store in the S&P rating at BB," said Timothy Ash, head of emerging markets research at Standard Bank.
"It has long argued that the current junk bond rating is unjustified and unfair, and we would agree," he said.
S&P says that less than 10 percent of its sovereign ratings are "unsolicited", but these do include the United States and Britain.
RAW NERVE
It was the reasoning behind S&P's move last May that appeared to touch a raw nerve.
The agency cited Turkey's huge current account deficit - its negative balance of trade in good and services, earnings on foreign investments and cash transfers such as workers' remittances - as well as the heavy inflows of foreign capital which the country needs to pay for that gap.
While the inflows continue, Turkey can live comfortably with its deficit. But if they dry up, the country could be in for "external shocks" such as a plunge of its currency which would push up inflation and interest rates, S&P warned at the time.
Turkey was Europe's fastest growing economy in 2011 but its external deficit widened to almost 10 percent of national output at the same time and the deficit remains the country's main economic weakness even as growth slowed last year.
The deficit widened to $4.48 billion in November, the latest month for which data is available, from $1.96 billion a month earlier, although it came in just below a Reuters poll forecast for a deficit of $4.8 billion.
Turkish growth remains robust compared with debt-choked Europe and much of the Middle East, and state finances are strong. The government is aiming for a budget deficit of just 2.2 percent of national output this year and state debt is seen at around 35 percent of GDP, well below most euro zone states.
"Most people will just ignore this," Alex Perjessy, a senior emerging markets economist at AllianceBernstein, said of the end of the ratings deal with S&P.
"Most people have ignored sovereign ratings on Turkey in the past few years given the ratings have not reflected Turkish fundamentals for some time."
Months after spat, Turkey and S&P fail on ratings deal
I do not trust any f... rating agencies. They are just good at manipulation. The f... S&P talks about the deficit of Turkiye but S&P does not talk about any deficit of AAA rated countries such as France, US, England etc. I am gonna show you the table from OECD showing the countries deficits based on GDP.
These countries are/were rated as AAA by S&P. Look at their deficit`s ratio and Turkiye`s deficit based on the GDP was 2.3 and 2.2 is expected for this year. You see how ridicules S&P is. I am not even talking about the countries who are rated higher than Turkiye and got "investment grade" by S&P. They are more worse but they got investment grade. Let me tell you another thing. When Bear Stearns, Merrill Lynch, and Lehman bankrupted, they all were rated AAA by rating agencies including S&P. I think it is enough to see how successful!!! rating agencies are.
Standard & Poor's said on Monday it would no longer offer a full rating service for Turkey, ditching much of its work with the economically booming country eight months after a spat over a negative report.
The credit ratings agency said it had failed to reach a deal with Turkey and would in future only issue an "unsolicited" assessment -- meaning that it is not paid by the country to provide cover but does so anyway to meet investors' needs.
More broadly, it also said that as of Feb. 14 it would withdrawing all its ratings on individual Turkish debt, leaving only the rating on the sovereign's overall credit-worthiness.
Turkey's Treasury played down the move, noting it had reached deals with S&P's competitors Fitch and Moody's and did not expect the lack of a deal with S&P to affect markets.
The country responded angrily last May when S&P cut the outlook on its 'BB' sovereign credit rating to stable from positive. Prime Minister Tayyip Erdogan warned Ankara may no longer "recognise" the agency, calling its decision "ideological".
"We are converting our issuer credit ratings on Turkey to "unsolicited" as we no longer have a rating agreement with this sovereign," S&P said in a statement.
"We will nonetheless continue to rate Turkey on an unsolicited basis because we believe that we have access to sufficient public information of reliable quality to support our analysis .... and because we believe there is significant market interest in this unsolicited rating."
S&P rates Turkey at BB, two rungs below investment grade. Fitch has raised it to investment grade at BBB- and Moody's just below investment grade at Ba1.
"The government is ... probably sending a non-too-disguised message that it sets little store in the S&P rating at BB," said Timothy Ash, head of emerging markets research at Standard Bank.
"It has long argued that the current junk bond rating is unjustified and unfair, and we would agree," he said.
S&P says that less than 10 percent of its sovereign ratings are "unsolicited", but these do include the United States and Britain.
RAW NERVE
It was the reasoning behind S&P's move last May that appeared to touch a raw nerve.
The agency cited Turkey's huge current account deficit - its negative balance of trade in good and services, earnings on foreign investments and cash transfers such as workers' remittances - as well as the heavy inflows of foreign capital which the country needs to pay for that gap.
While the inflows continue, Turkey can live comfortably with its deficit. But if they dry up, the country could be in for "external shocks" such as a plunge of its currency which would push up inflation and interest rates, S&P warned at the time.
Turkey was Europe's fastest growing economy in 2011 but its external deficit widened to almost 10 percent of national output at the same time and the deficit remains the country's main economic weakness even as growth slowed last year.
The deficit widened to $4.48 billion in November, the latest month for which data is available, from $1.96 billion a month earlier, although it came in just below a Reuters poll forecast for a deficit of $4.8 billion.
Turkish growth remains robust compared with debt-choked Europe and much of the Middle East, and state finances are strong. The government is aiming for a budget deficit of just 2.2 percent of national output this year and state debt is seen at around 35 percent of GDP, well below most euro zone states.
"Most people will just ignore this," Alex Perjessy, a senior emerging markets economist at AllianceBernstein, said of the end of the ratings deal with S&P.
"Most people have ignored sovereign ratings on Turkey in the past few years given the ratings have not reflected Turkish fundamentals for some time."
Months after spat, Turkey and S&P fail on ratings deal
I do not trust any f... rating agencies. They are just good at manipulation. The f... S&P talks about the deficit of Turkiye but S&P does not talk about any deficit of AAA rated countries such as France, US, England etc. I am gonna show you the table from OECD showing the countries deficits based on GDP.
These countries are/were rated as AAA by S&P. Look at their deficit`s ratio and Turkiye`s deficit based on the GDP was 2.3 and 2.2 is expected for this year. You see how ridicules S&P is. I am not even talking about the countries who are rated higher than Turkiye and got "investment grade" by S&P. They are more worse but they got investment grade. Let me tell you another thing. When Bear Stearns, Merrill Lynch, and Lehman bankrupted, they all were rated AAA by rating agencies including S&P. I think it is enough to see how successful!!! rating agencies are.
trajanus
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Last year,the 4th quarter was a little lower than 3rd
So I think it may be 370-400billion TL,make the GDP between 780-820
Pass holland and lower than indonesia
BTW,the real challenge is surpass S.Korea
Turkish academics will be free to wear headscarf
YÖK's draft law also states that students in higher education cannot be discriminated against for their political view, religion, language, race, gender, choice of dress or any other reasons.
World Bulletin / News Desk
The Higher Education Board (YÖK) proposed and submitted a draft law to the Education Ministry on Tuesday seeking to prohibit discrimination against academics based on their background, gender, religion or choice of dress, and if approved by the ministry, the law will allow headscarved women to teach in universities.
YÖK's draft law also states that students in higher education cannot be discriminated against for their political view, religion, language, race, gender, choice of dress or any other reasons.
The headscarf ban that has prevented students wearing headscarves from receiving an education at Turkish universities was lifted by YÖK in 2010, but several universities still impose the ban. If the new draft law goes through the ministry, individuals who discriminate against students may have to face the courts for their actions.
Turkish academics will be free to wear headscarf | Politics | World Bulletin
YÖK's draft law also states that students in higher education cannot be discriminated against for their political view, religion, language, race, gender, choice of dress or any other reasons.
World Bulletin / News Desk
The Higher Education Board (YÖK) proposed and submitted a draft law to the Education Ministry on Tuesday seeking to prohibit discrimination against academics based on their background, gender, religion or choice of dress, and if approved by the ministry, the law will allow headscarved women to teach in universities.
YÖK's draft law also states that students in higher education cannot be discriminated against for their political view, religion, language, race, gender, choice of dress or any other reasons.
The headscarf ban that has prevented students wearing headscarves from receiving an education at Turkish universities was lifted by YÖK in 2010, but several universities still impose the ban. If the new draft law goes through the ministry, individuals who discriminate against students may have to face the courts for their actions.
Turkish academics will be free to wear headscarf | Politics | World Bulletin
Ir.Tab.
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Turkey and France to resume nuclear plant talks: minister
Turkey and France have agreed to resume talks on civilian nuclear energy at a time Ankara plans to build three plants within the next five years, French Foreign Trade Minister Nicole Bricq said on Wednesday. "We met the (energy) minister to discuss Turkey's important projects in nuclear facilities," said Bricq after a meeting with Energy Minister Taner Yıldız. "France claims excellence in this field...so it is only natural that we have these discussions." She said: "We want Turkey to be equipped with the best and most secure technology and we can do it." Yıldız said that Turkey was aware of French nuclear technology and a series of talks would be held to develop cooperation, which had stalled amid chilly ties between the nations.
"Some important issues such as nuclear cannot be developed independently of international issues," Yıldız said.
For the last 10 years, diplomatic relations between Paris and Ankara have experienced several crises, fuelled in particular by a French bill criminalising denial of genocide in Armenian, vehemently denied by Ankara.
The tensions hit the interests of the French businesses in Turkey, particularly in obtaining big state contracts.
On Tuesday, Bricq said that her first visit to Turkey on behalf of the government was a "political signal" from the new French President Francois Hollande to develop closer ties, after strained relations between his predecessor Nicolas Sarkozy and Turkey.
Atmea, a joint venture owned by the French nuclear power group Areva and Japan's Mitsubishi Heavy Industries (MHI), has recently signalled its intention to bid to build the third plant.
Turkey is planning to build three nuclear power plants in the next five years to reduce its dependence on foreign energy sources.
It struck the first deal with Russia in 2010 to build the first power plant at Akkuyu in the southern Mersin province.
China, Japan, South Korea and Canada are competing to win the Turkish tender for the second plant, to be built near the Black Sea city of Sinop.
January/16/2013
Turkey and France have agreed to resume talks on civilian nuclear energy at a time Ankara plans to build three plants within the next five years, French Foreign Trade Minister Nicole Bricq said on Wednesday. "We met the (energy) minister to discuss Turkey's important projects in nuclear facilities," said Bricq after a meeting with Energy Minister Taner Yıldız. "France claims excellence in this field...so it is only natural that we have these discussions." She said: "We want Turkey to be equipped with the best and most secure technology and we can do it." Yıldız said that Turkey was aware of French nuclear technology and a series of talks would be held to develop cooperation, which had stalled amid chilly ties between the nations.
"Some important issues such as nuclear cannot be developed independently of international issues," Yıldız said.
For the last 10 years, diplomatic relations between Paris and Ankara have experienced several crises, fuelled in particular by a French bill criminalising denial of genocide in Armenian, vehemently denied by Ankara.
The tensions hit the interests of the French businesses in Turkey, particularly in obtaining big state contracts.
On Tuesday, Bricq said that her first visit to Turkey on behalf of the government was a "political signal" from the new French President Francois Hollande to develop closer ties, after strained relations between his predecessor Nicolas Sarkozy and Turkey.
Atmea, a joint venture owned by the French nuclear power group Areva and Japan's Mitsubishi Heavy Industries (MHI), has recently signalled its intention to bid to build the third plant.
Turkey is planning to build three nuclear power plants in the next five years to reduce its dependence on foreign energy sources.
It struck the first deal with Russia in 2010 to build the first power plant at Akkuyu in the southern Mersin province.
China, Japan, South Korea and Canada are competing to win the Turkish tender for the second plant, to be built near the Black Sea city of Sinop.
January/16/2013
mehmeTcc
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Crytek Continues to Expand with the Arrival of Crytek Istanbul | CrytekCrytek GmbH today announced the official opening of Crytek Istanbul, the eighth addition to their worldwide family of studios. The official launch of Crytek Istanbul took place at the city’s Çırağan Palace, with Turkey’s Minister of Science, Industry and Technology, Nihat Ergün, in attendence to welcome the announcement.
Supporting the growth of Crytek’s free-to-play business, Crytek Istanbul will focus their energy on Crytek’s Warface and GFACE brands, as well as overseeing the growth of the CryENGINE® business in Turkey, and the MENA (Middle East and North Africa) region.
Cevat Yerli, CEO of Crytek GmbH, expressed his excitement at the unveiling of the new office. “Crytek Istanbul not only opens the door to further growth, it represents reinvestment in a country that has special bonds for us as a company. We have had ambitions and aspirations to invest in Turkey for a long time and believe the moment is now right to bring those plans to fruition. From day one, we will work hard to make a positive impact in Turkey and further solidify Crytek’s reputation for quality and innovation.”
Serhat Bekdemir, Managing Director of Crytek Istanbul, highlighted Turkey’s rich potential. “Crytek’s decision to establish a permanent base in Turkey underscores the company’s commitment to leading the way into promising new territories. As a growing video game market, Turkey is the perfect place for Crytek to expand its profile and establish bonds with a whole new set of enthusiastic players, developers and business partners.”
The studio’s arrival also marks a return to the roots of Avni, Cevat and Faruk Yerli; the three Turkish brothers who founded Crytek in 1999.
About Crytek GmbH
Crytek GmbH (“Crytek”is an independent company at the forefront of the interactive entertainment industry, and is dedicated to pushing the boundaries of gaming by creating standout experiences for Xbox 360, Playstation 3, PC, mobile devices and games-as-service using their cutting-edge 3D-Game-Technology, CryENGINE®.
The company’s headquarters are in Frankfurt am Main (Germany). Crytek also has studios in Kiev (Ukraine), Budapest (Hungary), Sofia (Bulgaria), Seoul (South Korea), Nottingham (UK), Shanghai (China) and Istanbul (Turkey).
Since its foundation in 1999, Crytek has consistently been recognized for excellence in its field, earning accolades such as the 2011 Develop Award for Best Independent Studio and a 2010 Red *** Design Award. Its multi-award winning games include Far Cry®, Crysis® (awarded best PC Game of E3 2007 and Best Technology at the 2008 Game Developers Choice Awards), Crysis Warhead® (awarded Best Graphics Technology at IGN Best of 2008 Awards), Crysis® 2 (awarded Best Shooter of E3 2010 and Gamescom 2010) and Warface (awarded Best Social/Casual/Online Game of Gamescom 2012). For more information, please visit Home | Crytek.
BronzePlaque
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Turkey to Become World`s 12th Largest Economy by 2030 - PwC Analysis
http://www.pwc.com/en_GX/gx/world-2050/assets/pwc-world-in-2050-report-january-2013.pdf
http://www.pwc.com/en_GX/gx/world-2050/assets/pwc-world-in-2050-report-january-2013.pdf
TurAr
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T-123456
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We have SHALE OIL AND GAS.
TheCommander
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mehmeTcc
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