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Economic news august 2016

628Turkey’s FDI hunter Ermut: Investments worth $24B being monitored

Despite the failed coup attempt on July 15, Turkey’s Foreign Direct Investment hunter Ermut reported his team currently tracks investments worth $24 billion, stressing foreigners’ high interest in Turkey.

Turkey’s Foreign Direct Investment (FDI) hunter Arda Ermut said that his team continues to monitor 158 foreign investments worth $24 billion despite the failed coup attempt on July 15. Pointing out that an investor from the Gulf gave orders to make more investments in Turkey following the coup attempt and Abraaj Group announced an investment fund worth $526 million for Turkey, Ermut said those investing in Turkey were more eager to continue their investments. Ermut, the president of the Investment Support and Promotion Agency of Turkey (ISPAT), said they contacted the foreign investors following the coup attempt and asked whether they would continue their investments. Speaking to Anadolu Agency (AA) regarding the recently active foreign investors’ traffic in Turkey and messages given during President Recep Tayyip Erdoğan’s visit to Russia, Ermut said they are currently monitoring 158 foreign investments worth $24 billion, which also involve volatile projects, emphasizing that they decided to continue with investments in actively monitored projects.

Read the full article on: Daily Sabah

Erdoğan, Putin urge the use of national currencies in trade

The meeting between President Recep Tayyip Erdoğan and his Russian counterpart Vladimir Putin on Tuesday in St. Petersburg resulted in remarks by Putin stressing that the Turkish lira and ruble should be used in foreign trade between Turkey and Russia, decreasing the demand for the U.S. dollar.

Upon his return from Russia, while speaking to a group of journalists, Erdoğan said Putin drew special attention to the benefits of a trade carried out through the use of each country’s currency. Thereby, Erdoğan expressed that both Turkey and Russia would benefit from the dollar’s depreciation, reducing its damaging effects like exchange rate fluctuations on markets.

Read the full article on: Daily Sabah

n_99312_1Turkey’s first action plan on women’s employment launched

The first action plan in Turkey focusing specifically on women’s employment, with a focus on contributing to women’s increased participation in the labor force, has been launched in the capital Ankara.

The action plan, launched on May 17 at the International Labor Organization (ILO) office in Turkey, will be implemented by the Turkish Employment Agency (İŞKUR).

The plan covers the 2016-2018 period and was prepared by a team made up of representatives from 20 institutions as part of the “More and Better Jobs for Women: Women’s Empowerment through Decent Work in Turkey” initiative. The initiative is jointly implemented by the ILO and İŞKUR with the financial contribution of the Swedish International Development Cooperation Agency (SIDA) on the basis of enhancing women’s employment and working conditions in Turkey.

Read the full article on: Hurriyet Daily News

n_102698_1Vehicle registrations up 27.7 pct in June

The number of new vehicles registered in Turkey was up 27.7 percent year-on-year in June, reaching 115,153, the Turkish Statistics Institute (TÜİK) said Aug. 10.

The overall number of registered vehicles traveling on Turkish roads in the first half of this year was nearly 20.6 million, according to TÜİK.

Motor vehicle registration in the country fell 0.7 percent in June compared to the previous month, it said.

Read the full article on: Hurriyet Daily News

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