Month: September 2007

Bulgaria spends more as incomes increase

Domestic demand picked up early this year as Bulgaria joined the EU and a large number of European investment companies got unobstructed access to the local market. On another note, the incomes of the population have picked up by 18 per cent since the start of the year, another reason for growing consumption. The National… Read more »

7 million houses needed in Turkey

Turkey has a current population of 72 million and with increasing levels of prosperity, the demand for private housing across the country is on the rise. Estimates show that over the next ten years, seven million new houses will be required, a pressure reflected in Istanbul's real estate market. In addition, the introduction of new… Read more »

Istanbul real estate -the star of next decade

As the whole Turkish real-estate market expands rapidly, it is Istanbul that has become the key hotspot. In a recent PricewaterhouseCoopers (PWC) survey, Istanbul property market leapt upward eight slots in risk-adjusted total return rankings from 19th in 2006 to 11th in 2007. There is notable optimism for Istanbul's future. Several comments given in the… Read more »

Morocco is ‘remarkable’ say IMF

The International Monetary Fund (IMF) has described Morocco as ‘remarkable’. The IMF praised the economic progress achieved by Morocco in the past years, stressing the growth of GDP, the strength of the financial sector and the recent improvement in the tax system. The IMF board commented that the ‘GDP growth has moved onto a higher… Read more »

Morocco welcomes a new Prime Minister

Abbas El Fassi, leader of a secular political party in Morocco, has been named Prime Minister of Morocco. El Fassi's party, conservative-leaning Istiqlal, won the greatest number of seats in parliamentary elections this month, coming out ahead of an Islamic party that had been widely expected to win. King Mohammed VI received El Fassi at… Read more »

Bulgaria Property Prices see second-highest increase in 2007

Bulgaria's residential real-estate market has recorded the world's second-highest increase in prices in the second quarter of 2007. Residential property prices in Bulgaria jumped by 27.1% in the second quarter of this year, up by nearly 15% in comparison with the same period in 2006. Global property prices are increasing by 7.8% annually to the… Read more »

Russian billionaire to invest in Turkey

Russian billionaire Mikhail Fridman's Alfa Group will soon invest more in Turkey, the chief executive of Alfa's telecoms has commented. Alexey Reznikovich told reporters that the world would ‘soon see Alfa Group more in the Turkish market’ adding that in his view ‘real-estate, retail, infrastructure and banking are interesting areas in Turkey’. Mustafa Koc, president… Read more »

Atlas Blue – Morocco low cost airline to carry 1.3M passengers

Marrakech based airline Atlas Blue, a subsidiary of Royal Air Maroc, is expected to carry 1.3Mn passengers by October 2007, an increase of 80% compared to the previous year. Air Maroc and Atlas Blue has witnessed a remarkable development, serving 230 weekly flights to 30 destinations in 8 European countries; namely France, Poland, Spain, Belgium,… Read more »