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Finnish Peikko starts producing in Turkey

Finnish Peikko starts producing in Turkey

By CIGDEM YUCESOY SUBASI Finnish fastener producer Peikko Group has started producing in Turkey. The innovative Peikko products, which have been used in mega projects like Ankara high-speed train line, domestic terminal of Izmir Adnan Menderes Airport, Vodafone Arena and Turk Telekom Arena will be manufactured in Turkey.    The global giant, which has been operating...

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Inflation hits the peak of the last 20 months

Inflation hits the peak of the last 20 months

Consumer Price Index (CPI) increased by 1.08%, slightly higher than expectations, on a monthly basis. Annual inflation reached 16.19% while it rose for the sixth consecutive month and reached its highest level since July 2019. The annual figure increased by 0.58 percentage points last month, rising from 15.61% in February, according to the Turkish Statistical...

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What matters this morning

What matters this morning

Is summer really coming?  Or we can ask the question as: Are Germans coming to Turkey, their second holiday destination after Spain, this summer? Although temperatures still indicate a winter, the geography Turkey is in has officially entered the spring season and summer is just around the corner. However, will it be a real summer...

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Repkon to produce barrels in Australia

Repkon to produce barrels in Australia

Repkon, a Turkish company operating in the metal forming sector, has agreed to partner with Australian firm, Titomic, to produce barrels. As part of the agreement, a center will be established in Australia tuat will produce barrels designed by Repkon, using its flowforming technology and Titomic’s kinetic fusion technology. Repkon’s General Director Ibrahim Kulekci said...

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What matters this morning

What matters this morning

Apparently, people are done with staying at home as spring sets in and the sun begins to shine. The number of daily coronavirus cases has exceeded 40,000 in the country. More than 240,000 COVID-19 tests were conducted in the last 24 hours with 40,806 infections confirmed, a worrying 17% positivity rate. Moreover, Turkey’s COVID-19 figures...

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Medical product exports double in 2020

Medical product exports double in 2020

By NEWS DESK Turkey’s exports of medical products doubled in 2020 compared to the previous year amid the coronavirus pandemic, the Turkish Exporters Assembly (TIM) said on Tuesday. The exports in this group increased by %108 and reached USD 5 bn last year, TIM said in a statement.  As the demand for Turkish medical products increases each year, the country’s exports...

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Turkey lags behind in support packages: Research

Turkey lags behind in support packages: Research

By ELIF KARACA It has been more than a year since the COVID-19 pandemic started. The course and effects of the pandemic are still deeply felt globally. In the meantime, new ones are added to the support packages from time to time to reduce the effects of the pandemic on the economy. The total stimulus...

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Manufacturing PMI in the growth zone for 10 months

Manufacturing PMI in the growth zone for 10 months

The Istanbul Chamber of Industry’s Purchasing Managers’ Index (ICI Manufacturing PMI) rose to 52.6 in March and indicated a strong growth in production. Thus, business conditions have strengthened in 10 consecutive months with the data in March. While participants of the ICI Manufacturing PMI signaled improving demand, new export orders rose for the third consecutive...

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What matters this morning

What matters this morning

While we were busy with the other important agendas of the week, daily coronavirus cases in Turkey have exceeded 30,000 threshold and reached nearly 40,000. After Monday’s cabinet meeting, President Recep Tayyip Erdogan had announced that provinces in the red category (58 provinces) will have full weekend lockdowns and businesses like restaurants and caffes will...

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Exports increase by 9.6% to USD 16 bn in February

Exports increase by 9.6% to USD 16 bn in February

Turkey’s exports increased by 9.6% on an annual basis to reach USD16 bn in February, Turkish Statistical Institute (TurkStat) announced Wednesday. Turkey’s imports last month went up 9.4% to reach USD 19.3 bn, bringing the foreign trade deficit to USD 3.29 bn, up by 8.7%, TurkStat said. The export-import coverage ratio was 82.9% in February,...