Economy of Turkey

Turkish lender I?bank has begun negotiations for the sale of its 7.44 percent stake in mobile operator Avea, the bank said in a filing to the stock exchange on April 22.

Türk Telekom offered on April 22 to buy the remaining $300 million stake it doesn?t already own in mobile company Avea, a deal that would allow it to avoid having to float the struggling wireless firm.

Borajet, a Turkish-based airline, will launch three weekly direct flights from Istanbul to Rhodes and Mykonos that kick off on June 18 and plan to run through to September.

Representatives are also investigating the addition of more flights to Kos and Santorini in 2016.

Turkey received a total of $2.7 billion in foreign direct investment (FDI) in January and February, a decrease of 2.5 percent compared with same period last year.

The country received $954 million in February and $1.757 billion in January, according to data released by the Turkish Economy Ministry on April 20.

Opposition leader Kemal K?l?çdaro?lu released his party?s election manifesto on the weekend, summing up the economic picture as this: 

Turkey went down to 19th place from 17th place in the list of leading economies in the world. Because its income per capita for the past six years could not cross $10,000, it has fallen into the ?medium income? trap. 

Arab and Turkish ministers of trade, economy and investment agreed on April 20 on the need to expedite the implementation of programs aimed at deepening commercial exchanges and economic cooperation between the two sides.

Turkey's defense procurement institution has unveiled a critical component in the country's establishment of a 4G network, which is expected to be operational by the first day of 2016.

There is plot which aims to show the Turkish economy to be worse off than it actually is by exaggerating current developments, according to Customs Minister Nurettin Canikli. 

Turkey's embattled lira on April 15 tumbled to a new low in value against the dollar.
      
The lira broke above the psychologically important level of 2.7 to the dollar to trade at 2.703 to one dollar, a loss in value of 0.57 percent on the day.
      

Three deputy general managers have quit their posts at Turkey?s largest mobile phone operator, Turkcell, amid rising interference by the government into the company, which has a complex shareholder structure.