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 Gov´t introduces new tax hikes on eve of 2012
Following the levying of a recent private consumption tax (ÖTV) on designated products, the government has announced a new series of tax hikes, this time encompassing the motor vehicle tax (MTV) and communication and property taxes. |
 Lenders demand interest for reserve deposits
Turkey’s Central Bank should stop its zero interest rate policy for required reserves collected from lenders, which causes a significant loss in the banking sector, according to the general managers of several lenders. |
 Concrete producers predict 8 pct growth in 2012
Turkish Ready Mix Concrete Association (THBB) President Ayhan Güleryüz on Friday said the association´s growth forecasts point to at least an 8 percent growth in the sector in 2012. |
 VakıfBank executive confident on profits
VakıfBank, the state-owned lender, will preserve its 2011 profit rate next year as the overall sector will face a fall in profit margins due to steps by the Central Bank and the Banking Regulation and Supervision Agency (BDDK), said the lender’s general manager. |
 Central bank not too worried about lira´s weakness
The Central Bank of Turkey on Monday said it will not increase the amount of US dollars it sells to the market each day to increase the downward pressure on the greenback, signaling that it is not yet too worried about the Turkish lira´s weakness against the American currency. |
 Company closings tell about slowing economy
There has been a sharp decline in the number of new firms opening over the past month, and a simultaneous rise in the number of firms that closed their doors, according to data by a top business organization |
 Turkey´s economy minister arrives in Saudi Arabia
Turkey´s economy minister arrived in Jeddah, Saudi Arabia on Friday on a formal visit. |
 China to give hefty loan to Turkcell
Turkey’s largest mobile operator, Turkcell, has signed a deal with the China Development Bank for a $250 million loan. |
 Deputy PM Babacan: Turkish banks had a wonderful year
Deputy Prime Minister Ali Babacan has said Turkish banks are about to end 2011 in the best shape possible, with financial strength and the prospect of a better future. |
 Thirty hectares for foreign investors
The 2.5 hectares restriction in place for foreign investors will soon be increased to 30 hectares. Minister of Environment and Urban Development Erdoğan Bayraktar has announced that the process should be completed by the beginning of 2012. |
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