Bodrum

Turkey Shrugs off Latest Global Downturn

“Thanks to the bayram (holiday), the Turkish market seems to have turned the Dubai bend without a shock” Ali Bahçuvan, president of the Turkish Shareholders Association, or BORYAD, told the Anatolia news agency.

If the United Arab Emirates fails in calming investor sentiment, a “second shock wave” might come, Bahçuvan said, calling Turkey a “reference market” for emerging markets.

“The weight of foreign investors and interest-rate cuts make Turkey an example,” he said. “The economy did not deteriorate despite a non-deal with the International Monetary Fund. All these help pull Turkey’s risk premium down.”

In an interview with Bloomberg in London during October, Finance Minister Mehmet Simsek said, “Going forward of course we hope that Turkey will be strong enough not to have to need, to tap into international financial institutions’ resources”.

Turkey has tackled the effects of the global financial crisis without new lending from the IMF.

“We’ve gone through the worst and Turkey has been able to finance its deficit at historically low interest rates,” Simsek said. Spending plans for next year are “realistic” and financing “should not be an investor concern.”

In a note to investors on Tuesday, Timothy Ash, an emerging-markets economist at the Royal Bank of Scotland, said Turkish banks are not “particularly exposed to the $26 billion of Dubai World liabilities.”

Separately, the Financial Times reported that Britain’s banks were Dubai’s biggest foreign creditors. The report said Royal Bank of Scotland had the biggest exposure, of up to $2bn. HSBC, Standard Chartered and Lloyds Banking Group had exposure of about $1bn each, according to the paper.

Speaking to the Anatolia news agency, Bülent Erdogan, chief executive of Turkish construction giant Nurol, said three of the company’s ongoing projects had stopped six months ago due to problems with payments.

“We have six more ongoing projects in Abu Dhabi; we have seen no problem there,” he said. “[But] we also do not have any capital investments in Dubai.”

Emin Sazak, chief of the Turkish-Qatari Business Council of the Foreign Economic Relations Board, said “If [Dubai World] says it will postpone payments to creditors, that would also mean delays in payments to constructors,” he said, adding that only a few Turkish companies had planned to invest in Dubai, but pulled back due to the global credit crisis.

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No Flamingos At The Wetlands In Bodrum

Flamingos failed to flock to the Tuzla wetlands near the resort town of Bodrum this year, marking the latest blow to an ecosystem that faces the risk of disappearing completely. The area was declared a special protection zone five years ago, but industrialization & urbanization in the region is putting the wetlands at risk. Marble plants & carpet washing factories have continued to operate in the area their wastewater reaching the wetlands through the Mazı River.

 

More than 5,000 summerhouses were also built near the Tuzla wetlands, & all their wastewater is released into the lake. Once home to 120 species of birds & 50 species of fish, the wetlands now struggle to survive.

One of the most important wetlands in the Aegean region is the victim of “a murder of nature & environment”, according to Süha Umar, deputy president of the Foundation for Preserving Wildlife & Game.

 

Umar said the foundation filed complaints to the prosecutor’s office & the Muğla Governor’s Office against the industrial facilities that are destroying the area.

 

“The Tuzla wetlands are a unique asset that offers both historical & natural beauties,” he said. “While we are making plans to promote Tuzla & turn this spot into a popular tourist destination, some irresponsible people are turning the heaven into hell. I will do everything possible not to let them.”

 

Cüneyt Karaoğlu, a member of the Bodrum Volunteers Association, said flamingos did not come to the Tuzla wetlands this year for the first time. Karaoğlu noted that construction in the area has damaged the stability of the wetlands.

 

“The regulations regarding the protected areas have changed a few times in the last couple of years,” he said. “As a result of our inspections in the Tuzla wetlands, we found out that the number of animals in the area was decreasing, & we sent our reports to officials underlining the reasons for the decrease. ”Karaoğlu said precautions should be taken immediately; otherwise, he said, no animals will be left in the wetlands.

 

Bahattin Atçı, local governor of Milas, said the factories near Tuzla were warned last year not to release their wastewater into the Mazı River. “I will immediately send teams to the area to check the factories,” said Atçı. “We will severely punish anyone who poisons or damages the wetlands; no one should doubt that.” The local governor added the former salt plant in the area would be converted into a cafeteria & bird watching house.

 

The deep inlet from the Gulf of Güllük & Mandalya Bay forms Tuzla Lake. Home to a host of ancient ruins, the lake is surrounded by mountains covered with olive groves, pines & tamarisk trees.

 

Designated an Important Bird Area, or IBA in 2001 Tuzla Lake, dissected by a causeway, is particularly special as a bird sanctuary. Throughout the year, a large variety of rare birds including pelicans, flamingos & white storks can be seen flocking to the wetlands.

 

The IBA also covers the Güllük Delta, leading up to the Hamza Valley & following the Akyol River into Uyku Vadisi, or Sleepy Valley. Sleepy Valley is a natural preservation area among steep rocks, a forest of rich fauna & the Hamzabey River. It is called this because one feels sleepy as a result of the fresh, clean air in the region. This valley is now an official National Park.

 

The brackish waters of Tuzla Lake, less than a meter deep, provide vital nourishment for birds “refuelling” on their long journey to & from Russia, Scandinavia, and parts of Europe & Africa. It is rich in fish, algae & tiny creatures & fed by three fresh water streams. The lake attracts flamingos, grey heron, egret & numerous species of duck & goose. Although rare, 45 Dalmatian pelicans have been sighted here, as well as white pelicans, pygmy cormorants, spoonbills, & ospreys.

 

The varied nature of the lake’s surroundings also makes it an important habitat for birds & other wildlife. Mud flats are alive with waders, including the rare terek sandpiper. The surrounding farmland, forest & hedgerows attract even more rarities such as the booted eagle & the saker & lanner falcons.

 

The area also benefits from an especially mild microclimate so booted eagle & swallows were spotted there in December when they would usually be in Africa at this time. The Cyprus warbler, rarely seen this far west, is another visitor benefiting from the warmer temperatures.

 

Apart from the myriad bird life of Tuzla Lake that numbers into the thousands & thousands in winter, permanent inhabitants also include terrapins, snakes, wild boar, badger, fox & porcupine.

 

 

For more information visit: http://www.hurriyetdailynews.com

Nurol Art Gallery Open In Bodrum

Reversing the winter trend of art galleries closing in Bodrum, the Nurol Art Gallery Bodrum opened in the Oasis Shopping Centre. The Oasis Shopping Centre & Nurol Art Gallery in Ankara worked together for the new opening.

The exhibition includes paintings, ceramics & sculpture by the three very talented members of the Eren family, Cemil, Barış & Zeynep. The Erens are well known both in Ankara & in Turkish art circles & have a long association with Bodrum on the Aegean coast.

Cemil Eren was one of the artists who worked on frescoes at Anıtkabir, Atatürk’s Mausoleum & Museum, in the 1950s. He had his first solo exhibition in Ankara in 1957 & first exhibited in Bodrum in the Haluk Elbe Gallery at Bodrum Castle. He has a summerhouse in Gölkoy & over the years has created a whole series of landscapes & studies inspired by Bodrum.

In the new exhibition he has included his earlier paintings of fishermen as well as his most recent studies of birds & fish while using his signature mastery of white & pale blue shades.

His daughter, Zeynep Eren, has turned her artistic talents to ceramics & statues, creating earthy solid figures in the Kybele tradition of strong Anatolian women. She has also included a series of colourful scenes painted on ceramic tiles using the same style of female figures.

Barış Eren now is a full-time director with the Ankara State Theatre & will not be attending the opening because he will be preparing performances in İzmir. His involvement with theatre is evident in his colourful modern figurative canvases, which are created with a mixture of pastels, acrylics & pencils & exude movement & vitality. The artists’ works are represented in private & corporate collections in Turkey & Europe.

Cameron ‘anger’ at slow pace of Turkish EU negotiations

David Cameron has promised to “fight” for Turkey‘s membership of the European Union, saying he is “angry” at the slow pace of negotiations.

On his first visit as prime minister, he said the country could become a “great European power”, helping build links with the Middle East.

He compared hostility to the membership bid in some parts of the EU with the way the UK’s entry was once regarded.

Mr Cameron was expected to agree a new strategic partnership with Turkish Prime Minister Tayyip Erdogan during his visit.

‘Frustrating progress’

In a speech at the Turkish parliament in Ankara, Mr Cameron said he wanted to “pave the road” for Turkey to join the EU, saying the country was “vital for our economy, vital for our security & vital for our diplomacy”.

A European Union without Turkey at its heart was “not stronger but weaker… not more secure but less… not richer but poorer”.

Mr Cameron added: “I’m here to make the case for Turkey’s membership of the EU. & to fight for it.”

At a joint press conference with Turkish Prime Minister Recep Tayyip Erdogan, Mr Cameron suggested the UK would impose provisional restrictions – as with Bulgarians & Romanians after they joined – on the right of Turkish people to live & work in the UK after it joined the EU.

But the rapid rate of Turkey‘s economic growth would make any restrictions unnecessary in decades to come, he added.

He said: “One of the effects here is that [as] economies grow & become more evolved, the pressure & flow [of people] between countries isn’t so great.”

Referring to former French President General Charles de Gaulle’s efforts to block British membership of the EU in the 1960s, Mr Cameron said in his speech: “We know what it’s like to be shut out of the club. But we also know that these things can change.

“When I think about what Turkey has done to defend Europe as a Nato ally, & what Turkey is doing today in Afghanistan, alongside our European allies, it makes me angry that your progress towards EU membership can be frustrated in the way it has been.

“My view is clear. I believe it is just wrong to say that Turkey can guard the camp but not be allowed to sit in the tent.

“So I will remain your strongest possible advocate for EU membership & greater influence at the top table of European diplomacy.”

Regional role

Mr Cameron said those who opposed EU membership were driven by protectionism, narrow nationalism or prejudice.

“Those who wilfully misunderstand Islam, they see no difference between real Islam & the distorted version of the extremists. They think the problem is Islam itself. And they think the values of Islam can just never be compatible with the values of other religions, societies or cultures.”

He said: “All of these arguments are just plain wrong. And as a new government in Britain, I want us to be at the forefront of an international effort to defeat them.”

While praising Turkey’s secular & democratic traditions, Mr Cameron stressed that Turkey must continue to push forward “aggressively” with economic & political reform to maintain momentum towards EU membership.

He said the country had a “unique influence” in helping to build a stable Afghanistan through political & economic co-operation & fostering understanding between Israel & the Arab world.

Source: BBC

The Ultimate Celebrity Destination: Bodrum The “St-Tropez of Turkey”

Home to The Mausoleum, one of seven wonders of the ancient world, Bodrum has long been recognised as a celebrity hotspot. Nowadays, jet-setting actresses including Nicole Kidman, Uma Thurman and Liz Hurley holiday in Bodrum, but more than two thousand years ago, Cleopatra, Queen of Ancient Egypt, was also known to reside in this charming Mediterranean town.
To this day, the elegant celebrity tradition thrives in Bodrum, with infamous individuals such as Beyonce Knowles selecting it as their ideal holiday destination or investing in the unique property found on the peninsula.
With an average of 300 days of sunshine a year, Bodrum is renowned for its exquisite range of wildlife and natural setting of pine trees and olive groves. However, it also offers an extensive range of leisure activities including water sports, golf and yachting. Hollywood actor Tom Hanks who sojourned in Bodrum for a few days whilst cruising the Turkish coastline on board a magnificent yacht has enjoyed the latter of these pastimes.
Gloriously tranquil fishing villages frame the peninsula, offering the serenity of an unspoiled coastline and an authentic taste of Turkey’s rich cultural history.
Nonetheless, fashionable celebrities have long appreciated the distinguished nightlife presented in Bodrum centre. Whilst living in Bodrum, singer Norah Jones worked at the animated nightclub Hadigari and Dustin Hoffman held an exclusive party at Europe’s largest open-air disco, Halikarnas. The unique nightclub was also home to the very first international beauty pageant, Miss Globe, in 1988.
Many of the celebrity figures that have delighted in visiting Bodrum have stayed at extravagant hotels or have rented or invested in luxury villas within the region. Hannah Gelbart of Cumberland Properties recommends selecting an established and guaranteed property developer who offers top-quality, high-end construction with no expense spared.
So if you can picture yourself lounging by a spectacular infinity pool, shopping in an authentic Turkish market or a luxury boutique and sipping cocktails under the stars at a magnificent bar on the main street of Bodrum, you can see why Turkey has been tipped as a top tourist destination for 2010. Do not delay in experiencing it for yourself.

Turkey An Affordable Alternative For Expats

Over two thirds (75 percent) of expatriate Britons living in EU countries are considering returning to the UK due to the effects of the economic crisis according to a recent survey.

Fears over job security falling European property prices and the strength of the Euro are forcing many to reconsider their options according to a poll commissioned by Moneycorp the UK foreign exchange specialist.

250 in-depth telephone interviews were conducted last month and the findings indicated that 70 percent of those interviewed were now considering packing up and going home.

Job security was the most common concern with 35 percent worried about losing their job.

Falling European property prices was the second major concern closely followed by the strength of the Euro that for many paid in sterling has meant a dramatic cut in income or pensions.

Britons living in Spain where the recession is biting hardest for expatriates are the most worried about losing their jobs with 41 percent afraid they will be affected by the Spanish unemployment rate that currently stands at 18 percent.

More than a quarter (28 percent) of British expatriate living in Spain and more than one third (33 percent) of those living in Germany claim a sterling pension and rely on it as their main income.

An average of 70 percent have repatriation in mind says the survey while more than a third in some EU counties say they are definitely going back to the UK – including 38 percent of British expats in Germany, 37 percent in Spain, 34 percent in Italy and 33 percent in France.

David Kerns, Head of Private Clients at Moneycorp, said: “Our research highlights the real impact of the downturn for Britons living abroad”.

However, Turkey remains outside the EU affording the British in particular especially attractive exchange rates when compared to their European counterparts. This makes Turkey an affordable alternative to the more established retirement destinations such as Spain. Turkey already has a burgeoning British expat community.

Property in Turkey whether you are looking for Turkish property for sale or simply rentals in Turkey currently represents fantastic value for money. Furthermore, Turkey continues to enjoy sustainable growth in its property market with both domestic and international demand underpinning the market. Returns for rentals in Turkey remain strong.

Simultaneously, the strength of Turkey’s underlying economy and continued growth in tourism bolsters the case for considering Turkey as a real alternative retirement destination.

Turkey’s accession to full membership of the EU continues apace, increasing confidence amongst many Europeans in Turkey as a stable retirement destination.

For more information visit: www.moneycorp.com

Merrill Lynch Say Turkey May Be Next Brazil

The Turkish economy will probably grow 4.5 percent in 2010 according to research by Bank of America-Merrill Lynch.

 “If the real interest rates continue to be around 4 to 5 percent then Turkey has a huge growth potential and it can be the next Brazil,” said Türker Hamzaoğlu, a Merrill Lynch economist for emerging economies in Eastern Europe the Middle East and Africa, or EEMEA region, in a press conference in Istanbul on Thursday.

“Brazil saw huge growth after the 2001 crisis. Maybe Turkey does not have valuable underground resources, but instead of this, it has low real interest rates,” Hamzaoğlu said.

 

Another advantage Turkey has is its strong banking system and a large upside potential on mortgages, according to Hamzaoğlu. In the long run, South Africa, Saudi Arabia and Turkey are “likely to be success stories,” Hamzaoğlu said.

 

“When we compare these to European countries demographically we see that competitiveness is robust in EEMEA countries. The young and unsaturated population in developing countries has potential. Turkey should make use of this.”

 Hamzaoğlu also said the budget deficit situation is improving in Turkey. The gap that stood at 6.5 percent of the gross domestic product this year is expected to decrease to 5.6 percent of the GDP in 2010, he said. “The recovery will be seen more effectively in Turkey, as the indebtedness rates of households are lower compared to other EEMEA countries,” Hamzaoğlu added. Household debt in Turkey is 13 percent of GDP, according to the report.

 

From now on Turkey does not need to sign a standby deal with the International Monetary Fund, Hamzaoğlu said. “Emerging economies are recovering. There is no need for a standby.”

 

Inflation in EEMEA economies will stand at current rates or even decrease, according to the Merrill Lynch report.

 

The U.S. finance giant predicts the global economy to grow by 4.3 percent in 2010, with consumer spending and borrowing expected to rise as the threat of unemployment wanes and household incomes recover. “The surprise of the year may be a rally in the U.S. dollar,” said Bill O’Neill, a portfolio strategist at Merrill Lynch Wealth Management for Europe, Middle East and Africa.

 

“Brazil, Russia, India and China (or BRIC) currencies have the upside versus the euro.” The U.S. dollar has lost 4.8 percent against the euro this year.

 

For more information visit: www.turkeydailynews.com

Bodrum (Life and Property)

The Alluring feature of Bodrum is its “St Tropez of Turkey” atmosphere, which allows you to have a relaxing day followed by an exhilarating nightlife. After relaxing in the sun during the day you can choose one of the many taverns, bars and discos, some of which are the best in Europe, such as “The Halikarnas Disco” and spend an energetic night of fun and dance under the laser displays.
The Bodrum peninsula is also an excellent place for those who prefer a quiet and relaxing time. The pretty villages of the secluded bays welcome you with their guest houses, holiday villas, hotels, discos and bars beside the water’s edge. This contributes much towards the overall picture. Gümbet and Bitez are magnets for those who enjoy windsurfing where the wind and sea are perfect, Ortakent with its sandy beaches is the best choice for walking and Akyarlar is famous for its clear blue sea. There are three other pretty villages close to Bodrum, lying on the western end of the peninsula called Gümüslük, Turgutreis and Yalıkavak all of which are worth a visit.
Also Visit:
+ Bodrum Castle & Underwater Archaeology Museum
- Museum Web Site
+ Halicarnassus Mausoleum (one of the Seven Wonders of the World)
- Halicarnassus
+ Cosmopolitan Town Centre
+ Nightlife to suit all tastes
+ International Shopping
+ Beaches
+ Daily Boat Trips
Flight Time: From UK to Bodrum (BJV) Airport approx, 3,5 hrs
Transfer Time: From Bodrum Airport approx. 30 minu

Turkey a safe haven for real estate
investors.Property in Turkey(pdf)

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