8/29/2008

FT: “AKP’s closure case rejected, Turkey on the rise”

PRNet - British international business newspaper Financial Times (FT) reported that foreign capital holders oriented themselves towards Turkey where political and economic tension calmed down. Giving place to opinions of foreign investment companies about Turkey, the paper stressed that Turkey, which is seriously in need of oil, suffered problems regarding the surge in oil prices and the problems hit the peak with the lawsuit filed for closing down AK Party. However, FT pointed out to positive briskness in recent months and gave place to the comments of Ghadir Ebu Leil Cooper, head of the emerging Europe, Middle East and Africa Equities team at Barings. Ghadir Ebu Leil Cooper noted that Turkey had underwent a bad period until June and said, “However, a few factors helped Turkey recover this negative period.” Meanwhile, Hexam Emerging European Fund General Manager Stuart Richards told they raised their additional investments payment intended for Turkey, which was set as 6 % for June, to 18 % in July and to 19.5 % in August and added: “Turkey needs foreign investments. Political stability and political reforms of this country attract foreign investors.” Mr. Richards also said he believed Turkey would have a better economic performance in the second half of 2008.

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