Turkey

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The adoption of Turkey's first ever mortgage law in February 2007, one of the most important reforms of the finance sector, was met with considerable fanfare.
While property developers, bankers, insurance firms and economists all welcomed the passage of Turkey's mortgage law and the impact it will have on the residential real estate market, shopping mall development is experiencing an impressive - though less documented - expansion in Turkey.
Though concerned about the ongoing threat posed by Chinese and Indian competitors, Turkey's textile manufacturers have some reason to smile, with exports in the second half of 2006 and early 2007 registering something of a pickup.
Turkey's Istanbul Stock Exchange has tumbled along with many others since February 27.
Being the largest producer and exporter of hazelnuts in the world is something of a double-edged sword for Turkey.
The government's decision to postpone the privatisation of three electricity distribution grids, TEKEL's tobacco arm along with the announcement that Halkbank would not in fact go for a block sale but rather a 25% IPO, was unexpected.

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