Turkish Economy - News & Updates

[OguzSenturk]

Reserves increased $2.8billion last week
http://www.bloomberght.com/haberler/haber/2092149-merkez-in-brut-doviz-rezervleri-artti

 

[Kamil_baku]

Tourism revenue $ 26 billlion, plus FDI (foreign direct investments) of approximated $ 10 billon. Net - $ 40 billion. Year by year. Even the high exchange rate of dollar and euro could not stop the hunger of import goods.



Until it’s collapsed.

I mean those tourists go to the city, cafes, purchase dresses, gifts... you cannot calculate it..
thise 10 billion is income tax from hotels and so on, but you cannot see what 40-50 million people spend when they go out

 

[Deliorman]

 

[Oublious]

How many generations will pay the bill for greece.

 

[Deliorman]

How many generations will pay the bill for greece.

It’s quite easy to make the calculation. Zero is the answer... Greeks are the spoiled kid of the EU.

It’s not the Greeks who will pay the bill but Mutti Merkel + the French, Dutch, Austrian, Finnish etc tax payers who are the main donors in the Eurozone. It was the Germans and the French who bailed them out with spending and forgiving them hundreds of billions of euros. It’s the EU that poured hundreds of billions in Greece in the past 40 years too and basically payed for all their huge military and social budgets too- all that to keep them nicely fed and equiped for a potential war against Turkey.

And after all that Greeks are still the one who talk how Northern Europeans/Germans robbed their country. Not only spoiled but also ungrateful.

 

[Saithan]

Well, the issue with Greece was, they didn't pay proper tax. But I think the privatization is going to benefit them greatly. They're part of EU after all. I think the EU countries who supported the bail out just didn't receive "interest" from the money they lent to Greece, if you can borrow for 0% then you're actually receiving a gift, since I doubt the debt is regulated for inflation as well.

What's interesting is Brexit, as I remember UK was a paying quite a bit to the EU, and I don't know if they received some economic support, but I doubt it.

 

[KediKesenFare3]

Did you guys know that Germany almost lend 1 TRILLION EURO to other Eurozone member states? This is no conspiracy theory. It is a fact.

Eurozone Watch – Target2 balances a ticking time bomb?

• The Target2 balances at the ECB have received a lot of attention in the press during the past few years, particularly in surplus countries such as Germany and the Netherlands …
• … as their potential losses in case of the exit of a single euro country or a complete euro break up are huge
• During the euro crisis of 2011-2012 sharply rising Target balances were a sign of stress in the system and were an indication of the risks creditor countries were running
• The main driving force this time around is the ECB’s QE programme, not rising imbalances or rising tension
• Balances are expected to continue to rise in the coming months, probably reaching a total of more than EUR 3 trillion by mid-2018
• Germany’s surplus could surge to around EUR 1 trillion, which is equal to around a third of Germany’s GDP, the surplus of the Netherlands could rise to almost 20% of Dutch GDP
• Should the euro break up completely, creditor central banks hold a claim against a system that will cease to exist. Therefore, it is very questionable what will happen with these claims
• In case a single (weak) country withdraws, it will have to settle its bill, but default is likely, as the debt is in euro and the country involved will adopt a new currency which is likely to weaken sharply
• Depending on which single country left, the potential loss for the surplus countries could rise to some 3.5% of their GDP

-> https://insights.abnamro.nl/en/2017/05/eurozone-watch-target2-balances-a-ticking-time-bomb/

This is madness! Germany's surplus was 907 billion Euro last year!!! If the Eurozone breaks up, this money is gone. Can you imagine this amount of money? Crazy. Really crazy.

 

[Bismarck]

How many generations will pay the bill for greece.

Not Greece, Italy is the real problem nobody wants to see and afraid.

 

[anatolia]

Not Greece, Italy is the real problem nobody wants to see and afraid.

my greek friend was saying GOD BLESS GERMANY.

 

[KediKesenFare3]

Turkish Airlines passengers rise 36.6 percent in Jan.


Flag carrier reaches highest seat occupancy rate for January

home > economy 09.02.2018

By Gokhan Ergocun

ANKARA

The total number of passengers carried by national flag carrier Turkish Airlines (THY) rose by 36.6 percent to reach 5.7 million year-on-year in January.

"The increase in the number of domestic and international passengers are 41.1 percent and 32.8 percent, respectively," the airline said in a statement.

The carrier also reached the highest load factor (seat occupancy rate) ever -- 79.8 percent -- for January. It rose by 7.3 percentage points in January, compared to the same month in 2017.

The airline's revenue per kilometer jumped 28.9 percent to $11.4 billion year-on-year in the month, from 8.8 billion last January.

International-to-international transfer passengers of the carrier increased 24.9 percent year-on-year in January.

The airline also carried more than 86,000 tons of cargo-mail in the month, increasing 33.5 percent from around 64,500 tons in the month of 2017.

In 2017, Turkish Airlines carried 68.6 million passengers.

The airline flies to 300 destinations -- 251 international and 49 domestic -- worldwide with its fleet of more than 330 passenger and cargo aircraft.

According to the world airline survey Skytrax, Turkish Airlines has been named the best airline in Europe from 2011 to 2016.
http://aa.com.tr/en/economy/turkish-airlines-passengers-rise-366-percent-in-jan/1058836

According to the recently announced ‘January 2018 Traffic Results:

➢ Turkish Airlines reached the highest Load Factor in January with 79.8%. Total Load Factor improved by 7.3 points to 79.8% with an increase of 17% in Available Seat Kilometer, while international LF increased by 7.5 points to 78.6%. Domestic and International flights have reached the highest January LF of Turkish Airlines history.

➢ Double digit growth in demand (revenue per kilometer) that commenced in July 2017, kept on with 29% demand growth in January 2018.

➢ Excluding international-to-international transfer passengers (transit passengers), number of international passengers went up by 45%.

➢ In January, cargo/mail volume increased by 34%, compared to January 2017. Main contributors to the growth in cargo/mail volume, are Middle East with 45% increase, Domestic Lines with 44% increase and and Europe with 39% increase.

➢ In January, Load Factor increased for all regions. North America, Middle East, Central America, South America and Africa showed visible growth among other regions with 13 points, 1 points, 9 points and 8 points increase, respectively.

 

[LegionnairE]

https://tr.sputniknews.com/ekonomi/201801021031650963-ulker-ingiltere-hisse-satisi-pladis/

Ülker is not-so-slowly moving to the UK.
How patriotic of them.

https://eksisozluk.com/ulkerin-ingiltereye-kacmasi--5538051
​

 

[Constantinople]

https://tr.sputniknews.com/ekonomi/201801021031650963-ulker-ingiltere-hisse-satisi-pladis/

Ülker is not-so-slowly moving to the UK.
How patriotic of them.

https://eksisozluk.com/ulkerin-ingiltereye-kacmasi--5538051
​

They want to leave turkey ?!! or just opening another branch in UK ?

 

[LegionnairE]

They want to leave turkey ?!! or just opening another branch in UK ?

They are moving their headquarters to UK. They've transfered all of their assets in the UK based holdings company.

You know ülker?

 

[Constantinople]

They are moving their headquarters to UK. They've transfered all of their assets in the UK based holdings company.

You know ülker?

Yes of course I know them.. Shame on them. Why are they doing this ?

 

[LegionnairE]

Yes of course I know them.. Shame on them. Why are they doing this ?

I don't know, there's a lot of speculation. Some say their relaitonship with the ruling party soured, others say they are trying to escape an investigation... lots of rumors and heresay. Nothing solid at this moment.

Few people asked me why I like Koç so much, and I told them it's because it's a national company and they keep their investments in Turkey even though they aren't in best terms with the ruling party.