International development

Turkey's foreign direct investment close to $5 bln with EU being top investor

Turkey received over $4.9 billion in net foreign direct investment (FDI) during the first half of 2017, with the European Union being the top investor again, Economy Ministry data released on Aug. 22 revealed.        
Foreign investment in Turkey decreased by 8 percent during the January-June period this year compared with the same period of 2016, it showed.        

World Bank's IFC invests in pharma firm to improve access to high-quality medicine in Turkey

The International Finance Corporation (IFC), a member of the World Bank Group, has said it is providing a $25 million loan to Nobel İlaç, a leading pharmaceutical company in Turkey and the country's only net exporter in the sector, to help meet the growing demand for innovative, affordable, and high-quality medicine in Turkey.

China's debt on a 'dangerous trajectory': IMF

China's massive debt is on a "dangerous" path, raising the risk of a sharp slowdown in growth, the International Monetary Fund warned on Aug. 15, urging Beijing to speed up structural reforms.

The IMF, which has repeatedly warned China over its ballooning debt, said in a new report that the world's second largest economy must turn toward a sustainable growth path.

Foreign investment in Turkey reaches $1.2 bln in May

Turkey attracted $1.17 billion in foreign direct investment (FDI) in May, the Turkish Economy Ministry announced on July 25.

According to a ministry report, foreign direct investment in Turkey amounted to $4.8 billion between January and May 2017, an increase of 11.2 percent compared to the same period in 2016.

IMF praises Turkish economy, maintains global growth forecasts

The International Monetary Fund (IMF) has hailed Turkey's 2017 economic growth thanks to a strong recovery in the country's exports in its updated World Economic Outlook, in which the fund kept its growth forecasts for the world economy unchanged for this year and next, although it revised up growth expectations for the euro zone and China.