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Turkish Economy - News & Updates

What is the driving force behind Turkish Economic problem?

  • The on going Trump attack on Turkish Economy

    Votes: 29 19.9%
  • Jewish Agenda to weaken adjacent countries to Israel

    Votes: 36 24.7%
  • Internal Turkish economic problems

    Votes: 50 34.2%
  • Falling Exports for Turkey

    Votes: 5 3.4%
  • Loss of Tourism income for Turkey

    Votes: 1 0.7%
  • External Loans or Debt impacting Economy

    Votes: 25 17.1%

  • Total voters
    146
Turkish industrial output up 9 pct in August



By Fatih Erkan Dogan

ANKARA

Turkish industrial production rose by more than 9 percent in August, the Turkish Statistical Institute (TurkStat) said Monday, as markets recovered from the effects of July’s attempted coup.

“Seasonally and calendar adjusted industrial production increased by 9.4 percent compared with the previous month,” TurkStat said in a report.

Manufacturing output rose 10.8 percent while mining and quarrying production jumped 5.1 percent on July. The electricity, gas, steam and air-conditioning supply index rose 2.8 percent.

On a yearly basis, industrial production was up 2.2 percent on the same month last year.

“There was a consensus in markets that industrial production would show a slower momentum in August but the new figures have shown a more positive outlook than forecast,” Enver Erkan, an analyst from KapitalFX investment brokers, said.

He said the new data should be treated as indication of normalization following the coup bid.
 
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Imagine what would have been happening if things in the region and in Turkey were not like this: no Syria crisis, no ISIS, no PKK, no refugees, no 15th of July coup, no problems with Russia. Turkey could easily grow if not in double digits then with at least 7-8 percent or more on a yearly basis but this year will be bad. Maybe still better than most other countries but bad for us. We have such a huge potential for development not only us but the whole region. A lot of other countries could have fell into a complete chaos in such circumstances but we are still holding. How many other nations you can name who will protest and stand in front of tanks and rifles on the Saturday morning and go to work on Monday? :D
 
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Imagine what would have been happening if things in the region and in Turkey were not like this: no Syria crisis, no ISIS, no PKK, no refugees, no 15th of July coup, no problems with Russia. Turkey could easily grow if not in double digits then with at least 7-8 percent or more on a yearly basis but this year will be bad. Maybe still better than most other countries but bad for us. We have such a huge potential for development not only us but the whole region. A lot of other countries could have fell into a complete chaos in such circumstances but we are still holding. How many other nations you can name who will protest and stand in front of tanks and rifles on the Saturday morning and go to work on Monday? :D
We can look at it this way, we grow despite all the turmoil we have inside and outside our borders. That is impressive, if you look at it that way.
We will still always be the best nation in the Middle East, this will never change.
 
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The cheap oil prices are one of the main reasons for the growth. Otherwise we would probably have a recession.
 
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Imagine what would have been happening if things in the region and in Turkey were not like this: no Syria crisis, no ISIS, no PKK, no refugees, no 15th of July coup, no problems with Russia. Turkey could easily grow if not in double digits then with at least 7-8 percent or more on a yearly basis but this year will be bad. Maybe still better than most other countries but bad for us. We have such a huge potential for development not only us but the whole region. A lot of other countries could have fell into a complete chaos in such circumstances but we are still holding. How many other nations you can name who will protest and stand in front of tanks and rifles on the Saturday morning and go to work on Monday? :D
If you know that what will happen if no trouble around turkey and you are roght about it ...I think you will know why there is trouble and who and why "allies" don't want to kick pkk out of turkey and who was behind coup
 
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The cheap oil prices are one of the main reasons for the growth. Otherwise we would probably have a recession.

I don't think so. We had our largest growth rates during a high-price phase for energy. Main reason behind our growth rate now is the recovery of the private sector. Thanks to an increase of our statutory minimum wages people did spend more money. In addition, our automotive industry operates at full stretch.
The change in production compared with last year is +7 %.

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Saudi Aramco signs MoUs with 18 leading Turkish companies

http://www.saudiaramco.com/en/home/news-media/news/wec2016_MOU.html

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Im always amused how after all these years ppl still underestimate KSA. They survived wave of panarabism led by Nasser, wave of iranian isnpired revolutionary islamism in the 80s and The Arab Spring. Almost every few yearss since the 80s analysts, foreign pundits wriete think pieaces about kingdoms imminent financial and political collapse and the kingdom still stands.



This is one from early 90s

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KSA UAE Kuwait Qatar and Turkey is currently forming an economic bond unseen. This will reap great benefits for the entire region. Arab oil investments are being directed to Turkey, where do you guys think our confidence stems from? That we can act relentless in our immediate sorrounding while having the tenacity to speak up to USA and Europe, at the same time doing big business with them. There is only power and interest in this game
 
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Saudi ACWA Power aims to build 340 MW wind plant in Turkey

Ankara seek to deepen their energy ties.
ACWA is a new entrant to the burgeoning Turkish electricity market, where demand is growing 4-5 percent annually. It is already building a 950 MW gas power plant near the capital Ankara, due to be operational in the second quarter next year.

Abid Hussain Malik, head of ACWA Power’s Turkish unit, said in an interview late Oct. 12 that the company wants to diversify into renewables in Turkey.

“(Provided) that the license is awarded this year as we project, we want to invest in a 340 MW capacity wind power plant,” he said.

Turkey regularly allocates renewable power investment licenses but companies are usually awarded less than they ask for because investment demand outstrips government quotas.

In another sign of deepening ties, Saudi Aramco signed memoranda of understanding on Oct. 11 with 18 Turkish firms primarily in construction, power generation and related services, enabling them to bid for Aramco projects.


Turkey mulls gas trading hub possibilities
Turkey should develop sufficient physical entry/exit capacity to become natural gas trading hub, Pres. of Accenture Energy


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By Murat Temizer


ISTANBUL

Turkey will leverage opportunities to become a natural gas trading hub, rather than a transit hub, said Hakan Irgit, president of Accenture Energy Group in Turkey at the World Energy Congress in Istanbul.

Irgit told Anadolu Agency at the congress, of which Anadolu Agency is the global communication partner for 2016, that Accenture started the second phase of establishing Turkey's natural gas trading platform.

"We completed the first part of the platform project last year. This year, we received approval from the Turkey's Energy and Natural Resources Ministry for the second phase," he said and added, "according to the research we conducted, becoming a transit country is not to the benefit of Turkey."

He suggested that instead of aiming to become a gas transit hub, Turkey should develop sufficient physical entry/exit capacity to ensure diversification of supplies and liquidity to become a natural gas trading hub.

He also recommended that the structure of BOTAS pipeline corporation, Turkey's state-owned crude oil and natural gas pipelines and trading company, be strengthened as a competitive market player and a strong transmission system operator.

Irgit hailed Accenture's research experience that has been put to use in other countries which has sought to develop as a hub.

Energy Researcher from the Foundation for Political, Economic and Social Research (SETA), Erdal Tanas Karagol, also agreed that Turkey should advance to become a trading hub arguing that it is more rational than a transit hub.

"We should focus on being a trading hub. Turkey has many sources around it - Russian gas, natural gas from Azerbaijan, Israel, Iran and Turkmenistan which could flow through Turkey," he asserted

To achieve this, Karagol said Turkey should develop its infrastructure and natural gas storage facilities.

"With these steps, we can become a gas trade hub. Many gas export companies can operate in Turkey, and with the liberalization of the market, the price of gas can be set in Turkey," he said.

Russia supplies around 55 percent of Turkey’s domestic gas consumption. Iran supplies approximately 16 percent and Azerbaijan supplies around 13 percent. These three countries are the major suppliers of Turkey’s natural gas imports, with the remainder supplied through LNG imports from Algeria, Nigeria and Qatar.

Turkey is located close to more than 75 percent of the world’s proven hydrocarbon reserves, which presents Turkey with a unique opportunity to become a major energy transit country between the East-West and the South-North axes.

There are various gas projects in a development stage around Turkey, some of which will become operational in the short term.

Russia and Turkey signed an intergovernmental agreement on Oct. 10 for the implementation of the Turkish Stream natural gas project.

The agreement involves the construction of two lines of gas pipelines through the Black Sea each with a capacity of 15.75 billion cubic meters.

One line is planned to supply gas directly to the Turkish market, while the other line aims to supply gas to Europe through Turkey.

The finalization of the Southern Gas Corridor is also critical for the EU and Turkey as a hub.

The Southern Gas Corridor is one of the most complex gas value chains ever developed in the world. Stretching over 3,500 kilometers, crossing seven countries and involving more than a dozen major energy companies, it consists of several separate energy projects representing a total investment of approximately $45 billion.

The project includes the South Caucasus Pipeline (SCP), the Baku-Tbilisi-Erzurum natural gas pipeline (BTE), the Trans-Anatolian Natural Gas Pipeline (TANAP), the Turkey-Greece Interconnector (ITG), and the Trans-Adriatic Pipeline (TAP).

Karagol also noted that "Iran needs new markets to sell its energy and wishes to have better relations with foreign markets. Turkmenistan is another key country which aims to have more contact with external markets to its east and west along with Azerbaijan in the Caspian region."

Consequently, Turkey can become an energy-trading center through the southern gas corridor, he said.

Turkey was the fifth largest natural gas importer in the world in 2015 with 48 billion cubic meters (bcm) while Japan ranked first with 117 bcm and Germany second with 73 bcm.
 
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Turkish Film Days kick off in Athens

3 days of emotion, secrets, adventure, and a trip to Anatolia through the lenses of award-winning filmmakers

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Turkish actor Burak Ozcivit with fans at Turkish Film Days Festival

By Magda Panoutsopoulou

ATHENS

Three days of emotion, secrets, adventure, and a trip to Anatolia in a series of distinguished movies began Thursday night in Athens, at the Turkish Film Days organized by the Cultural Center of the Turkish Embassy.

The festival kicked off with a grand opening featuring the movie My Brother, screened at the Michael Cacoyannis Foundation with Turkish actor Burak Ozcivit as special guest.

“I loved your energy. I now wonder why I didn’t come here earlier,” Ozcivit told Anadolu Agency about visiting Greece.

In the movie, Ozcivit plays one of two long-separated brothers, both famous musicians, who are eventually reunited by the death of their father.

Friday, day two of the festival, features Cagan Irmak’s Whisper If I Forget, a story of a girl diagnosed with Alzheimer’s who returns after many years to the house she grew up in to find her sister, only to bring up old secrets that were kept in the dark.

Two more award-winning films will be screened on Friday: Emin Alper’s Beyond the Hill, winner of the Caligari Award at the 62nd Berlin International Film Festival, and Kaan Mujdeci’s Sivas, which won Special Jury Prize at the 71st Venice Film Festival.

The event will end Saturday with three more award-winning movies: Dervis Zaim’s Fish, which won Best Screenplay at the 21st Adana Golden Boll Film Festival; Ivy, winner of the Best Film, Best Director, Best Screenplay, and Best Actor awards at the 49th International Antalya Film Festival; and Nuri Bilge Ceylan’s Once Upon a Time in Anatolia, named one of the 100 greatest films of the 21st century by BBC Culture and winner of the Grand Prix at the 2011 Cannes Film Festival.
 
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Turkish Film Days kick off in Athens

3 days of emotion, secrets, adventure, and a trip to Anatolia through the lenses of award-winning filmmakers

thumbs_b_c_bd6a257ae7e7193a27f91c7a64804c40.jpg





Turkish actor Burak Ozcivit with fans at Turkish Film Days Festival

By Magda Panoutsopoulou

ATHENS

Three days of emotion, secrets, adventure, and a trip to Anatolia in a series of distinguished movies began Thursday night in Athens, at the Turkish Film Days organized by the Cultural Center of the Turkish Embassy.

The festival kicked off with a grand opening featuring the movie My Brother, screened at the Michael Cacoyannis Foundation with Turkish actor Burak Ozcivit as special guest.

“I loved your energy. I now wonder why I didn’t come here earlier,” Ozcivit told Anadolu Agency about visiting Greece.

In the movie, Ozcivit plays one of two long-separated brothers, both famous musicians, who are eventually reunited by the death of their father.

Friday, day two of the festival, features Cagan Irmak’s Whisper If I Forget, a story of a girl diagnosed with Alzheimer’s who returns after many years to the house she grew up in to find her sister, only to bring up old secrets that were kept in the dark.

Two more award-winning films will be screened on Friday: Emin Alper’s Beyond the Hill, winner of the Caligari Award at the 62nd Berlin International Film Festival, and Kaan Mujdeci’s Sivas, which won Special Jury Prize at the 71st Venice Film Festival.

The event will end Saturday with three more award-winning movies: Dervis Zaim’s Fish, which won Best Screenplay at the 21st Adana Golden Boll Film Festival; Ivy, winner of the Best Film, Best Director, Best Screenplay, and Best Actor awards at the 49th International Antalya Film Festival; and Nuri Bilge Ceylan’s Once Upon a Time in Anatolia, named one of the 100 greatest films of the 21st century by BBC Culture and winner of the Grand Prix at the 2011 Cannes Film Festival.


Every time I visit my parents I see my mother having the tv opened with some Turkish soap opera .....I don't even know if this is a setback or a step forward from the South American soap operas with Thalia and Natalia Oreiro she was watching in the 90's :cheesy:
 
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Every time I visit my parents I see my mother having the tv opened with some Turkish soap opera .....I don't even know if this is a setback or a step forward from the South American soap operas with Thalia and Natalia Oreiro she was watching in the 90's :cheesy:
it's a step forward, I used to hate Turkish soaps. I was forced to watch some in my grandmothers place, when I stayed there for a bit, got hooked. :lol:
It's pretty addictive, be warned.
 
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Every time I visit my parents I see my mother having the tv opened with some Turkish soap opera .....I don't even know if this is a setback or a step forward from the South American soap operas with Thalia and Natalia Oreiro she was watching in the 90's :cheesy:

Turkification of Europe has started - Ya Allah Bismillah !
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Quote :

Saudi ACWA Power aims to build 340 MW wind plant in Turkey

Istanbul – Reuters
October/13/2016


Saudi Arabia-based power and water project developer ACWA Power is aiming to build a 340 megawatt (MW) wind power plant in Turkey, the head of its Turkish operations told Reuters, as Riyadh and Ankara seek to deepen their energy ties.

ACWA is a new entrant to the burgeoning Turkish electricity market, where demand is growing 4-5 percent annually. It is already building a 950 MW gas power plant near the capital Ankara, due to be operational in the second quarter next year.

Abid Hussain Malik, head of ACWA Power’s Turkish unit, said in an interview late Oct. 12 that the company wants to diversify into renewables in Turkey.

“(Provided) that the license is awarded this year as we project, we want to invest in a 340 MW capacity wind power plant,” he said.

Turkey regularly allocates renewable power investment licenses but companies are usually awarded less than they ask for because investment demand outstrips government quotas.

In another sign of deepening ties, Saudi Aramco signed memoranda of understanding on Oct. 11 with 18 Turkish firms primarily in construction, power generation and related services, enabling them to bid for Aramco projects.

Hurriyet Daily News





ACWA Power


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