Deputy Prime Minister Şimşek, "OHAL Will Have No Impact of Daily Life and Business World"
Şimşek, "The Government’s attachment to market economy continues. We anticipate subject incidents have limited and short term effects on Turkey economy. It is of utmost importance for us to maintain country credibility note at suitable investment environment level". Noting downward risks of Turkey economy “definitely increased”, Şimşek has said that Treasury would not be in need of supplementary foreign funding this year
IMF, Report on Global Expectations and Policy Difficulties Prepared for the G20 Meeting
“Moderate recovery will be continued in developed economies, whereas growth expectations will be more sluggish in developing economies. Corporate debts and financial risks are of vital importance in developing economies. Integration has to be safeguarded in global trade and trading should be generalized. The new relation between Britain and the EU has to gain clarity.” IMF retained the growth expectation for Turkey at the same level of 3.8% for 2016, downgrading the expectation for 2017 to 3.2% from 3.4%
Deputy Prime Minister Mehmet Şimşek: “We Will Stick to the Market Rules”
Şimşek: “There is growth, the current account deficit is narrowing, there are no problems in the budget. We will stick to the market rules and the market will operate in the strongest manner with all institutions.” Fitch Ratings: “The foundations of the banking sector in Turkey are steady. Downward risks increased regarding credit notes of Turkish banks”. S&P downgraded Turkey’s “BB+” note to “BB”, and determined the outlook as negative. The fragmentation in Turkey’s political outlook has been declared as a justification…
IMF Updated the Growth Estimates in the World Economic Outlook Report
IMF has cut the global growth expectation down to 3.1 percent for the current year from 3.2 percent due to uncertainties upon decision taken by Britain to exit from the European Union (Brexit), and to 3.4 percent from 3.5 percent for the next year
Important Messages Given by Deputy Prime Minister Şimşek Comforting the Economy and Markets
Deputy Prime Minister Mehmet Şimşek who will participate in the G20 Ministers’ Meeting in China representing Turkey as a G20 Troika member in the capacity of the previous term chairman, stated that decisions to be taken on the economy will be market friendly decisions and that priority will be given to structural reforms
Regulation Pertaining to Revision of Natural Gas Market License Regulation (I)
EMRA has prepared a Draft Regulation pertaining to revision on Natural Gas Market License Regulation and relased for comments and assessments. The recommendations, comments and opinions on the draft will be forwarded to the entity until July 29, 2016.
World Bank, Turkey Regular Economic Note
The World Bank retained the 3.5 percent growth projection of the Turkish economy for the year 2016 – According to the report, the rising of global oil prices will curb the fall in energy gap in the second half of the year and will revert the trend eventually – The inflation rate is expected to rise in the second half of the year…
OECD Secretary General Gurria Commented on Turkey Economy
Gurria: "The resilience and being multi facaded of Turkish Business community can be the light of hope for Turkey economy at this difficult period. I am fully confident of the fact that vivid business sector and young, dynamic and population of Turkey who are now better educated, will cope with this difficult global time and will be able to catch better opportunities. The diversity of the growth dynamics will be the power of Turkey As the result of consumption-focused high growth, Turkey's foreign debts rapidly increase and international asset position deteriorates. Turkey has to reduce the double sided dependency on domestic consumption and foreign financing in the growth. Growth has to be based on export."
Gama Enerji, Kırıkkale Thermal Power Plant Project
The Energy Ministry approved and give final acceptance to the 1st and 2nd gas turbines of the plant in June. The two units of 280 MW (each) of the plant are put into operation on the dates of June 23 and June 29. The last gas turbine will be approved within July.
Disclosures Made by Akenerji General Manager Danışman
General Manager of Akenerji Elektrik Üretim A.Ş. Ahmet Ümit Danışman: “The state may have to give more support to encourage the investments of the private sector in a climate when the market is narrowing as a result of borrowing in foreign currency and due to over-supply. Otherwise, I do not think that the private sector will consider taking risks with investments which are costly and which will pay off in the long term such as lignite in particular, without any purchase guarantees in terms of foreign currency in prevailing market conditions.”
Current Status of Private Sector Power Plant Applications Made to EMRA (I)
Production licenses have been given for 2 projects by EMRA, besides preliminary licenses for 5 projects – “Positive EIA opinions” are given on 5 projects…
Doosan Group Presents its Power Solutions in Ankara
Circulating Fluidized Bed (CFB) technology of German Doosan Lentjes was introduced at the Conference held by Doosan Heavy Industries Metin Oktay, Managing Director of the Turkish Office of Doosan Heavy Industries said “What we offer is the pulverized boiler technology from UK, steam turbines from Czech Republic and Korea, as we as CFB, air pollution, and waste-to-energy technologies from Germany.”
OECD, Economic Surveys of the European Union and of the Euro Area
"Although growth has gradually strengthened, unemployment in many countries is still high, investment remains below pre-crisis levels in most European countries, and credit growth is still sluggish"
World Bank, Global Economic Prospects
World Bank Development Expectations Group Director Köse, "Unfortunately, World economy still try to get out of the impacts of the financial crisis, however, still face with other shocks such as sharp decrease in good prices. There is still a very huge debt burden that came along with the crisis and this burden still adversely affect consumption and investments in many countries. The fertile ground for financial and monetary policies to be executed for revitalizing the economy is extremely narrow."
Bombardier Transportation Won a Contract To Supply European Rail Operator Abellio Rail Südwest GmbH With 43 BOMBARDIER TALENT 2 Trains.
The order is valued at approximately 215 million euro.- Starting in June 2019, the new electric multiple units will gradually enter passenger operation on the Stuttgart regional network in Germany.-Bombardier will supply all 43 trains to Abellio by June 2020.
Rönesans İnşaat Opens World's Largest Railway Tunnel in Switzerland
Built by Rönesans İnşaat with a budget of 16 billion Euros, the 57-kilometer-long tunnel runs beneath the Alps, and will shorten the duration of travel from Zurich, Switzerland to Milan, Italy to 2 hours and 40 minutes with a one-hour reduction
Bombardier to Supply Twelve Additional FLEXITY Swift Tram-Trains to Karlsruhe, Germany
The contract for tram trains to the city of Karlsruhe is valued at approximately 60 million Euro... Bombardier Transportation and Global Rail Sdn. Bhd. Win Contract to Provide Rail Control for Second Line of Malaysia's Klang Valley MRT. An overall value of approximately 95 million Euro. Bombardier's share totals approximately 48 million Euro...
Salini-Kolin Consortium Signs a Motorway Contract in Kuwait, while Limak İnşaat Signs an Infrastructure Works Contract
Salini-Kolin İnşaat Consortium and Limak İnşaat are awarded the contracts in two separate tenders announced for the motorway and other infrastructure works within the scope of Southern Al Mutlaa city project of Kuwait. Salini-Kolin Consortium will sign a contract at a value of around $ 800 million for the motorway in the coming days, while Limak İnşaat signs a contract at a value of around $ 200 million for the infrastructure works of the city