NEWS

Afghan President Ashraf Ghani on Monday inaugurated a Turkish-made prefabricated housing factory worth 11.4 million in the capital Kabul.

Speaking on the occasion, Ghani said the factory would ensure speedy construction of housing projects in the public sector on modern and world-class standards.

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At a height of 601 meters, Abraj Al Bait is the tallest hotel in the world, with a floor area of 1,500,000 square meters and a 100,000-person capacity.

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The Turkish State Railways (TCDD) has signed a contract for 10 Velaro high-speed trains with Siemens, which submitted the most favorable bid in the tender.

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Turkey's exports are expected to rise to $170bn in 2018, Economy Minister Nihat Zeybekci has said."We reached the highest monthly exports in our history in March ... We will hopefully exceed $170bn [of exports] by the end of the year." Zeybekci said on Monday.

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The Turkish manufacturing sector is positive about business outlook regarding output growth, export sales and Capex plans despite challenges in financing, said a report by London-based global data company IHS Markit on Wednesday.


 

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The Turkish manufacturing sector is positive about business outlook regarding output growth, export sales and Capex plans despite challenges in financing, said a report by London-based global data company IHS Markit on Wednesday.

The Turkey Industrial Outlook report, prepared in collaboration with the Istanbul Chamber of Industry, showed that 55 percent of Turkish manufacturers surveyed by IHS Markit expected to rise in production volumes for a year ahead.

"At 45.4 percent in March, the resulting net balance signals widespread confidence regarding output prospects in the next 12 months among goods-producers," it said.

The report revealed that industrialists also expected their profits to increase but concerned about the higher costs of imported raw materials.

"Turkish manufacturers are generally upbeat about access to finance (net balance 21.0 percent), although respondents note concerns about the cost of finance," the report read.

Tim Moore, associate director at IHS Markit, said that higher export sales and rising domestic consumer spending are expected to drive output growth.

"Manufacturers are backing up their positivity towards the demand outlook by looking to increase research and development budgets and digitization spending," Moore said.

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