The telecommunication sector in Turkey has grown at a rapid pace during the past few years, driven by government support and initiatives aimed at liberalization and privatization of the sector. Besides, other factors, such as favorable demographics coupled with rising disposable income and a desire to avail hi-tech telecom services have been fostering the growth of Turkish telecom market.

The authors have examined the Turkish mobile market and has found that it currently posses a lot of potential as the penetration rate was around 85% at the end of 2010. With the initiation of 3G services in Turkey, the telecom sector will witness significant changes in the coming years. With the rapidly improving mobile infrastructure and intense competition among the three mobile operators (Turkcell, Avea, and Vodafone), the mobile subscribers will grow at a CAGR of around 8% during 2011-2014 and the penetration rate will exceed 108% by 2014-end.

Bayerische Motoren Werke AG, the world's largest maker of luxury vehicles, is considering adding two auto factories in emerging markets as it seeks to extend its lead over Volkswagen AG's Audi.

BMW is evaluating sites for a plant in Brazil as well as another factory in Russia, India, South Korea or Turkey, Chief Executive Officer Norbert Reithofer said today at the company's annual shareholders' meeting in Munich.

"The people in these countries want more individual mobility," Reithofer said in a speech. "We want to further our lead in the premium sector."

The maker of BMW, Mini and Rolls-Royce cars is expanding in emerging markets as it looks to guard its independence and fend off Audi, which aims to overtake BMW as the luxury-car leader by 2015. BMW's joint venture plant in Shenyang, China, is boosting investment to 1 billion euros ($1.42 billion) from 560 million euros.

ISTANBUL (AP) — Turkey on Wednesday announced plans to build two earthquake-resistant developments in the Istanbul area to lure residents away from dangerous neighborhoods.

Prime Minister Recep Tayyip Erdogan said the first of two "new cities" would be built on abandoned quarries and coal pits at the edge of Istanbul's European side. The second would be located on unused land on the Asian side, he said, without providing further details.

The two new urban centers would have a population of about 1 million each.

Erdogan said studies for the project would begin soon after Turkey's June 12 elections, while construction would start next year. The main aim of the project is encourage people living in Istanbul's earthquake-prone areas to move, he said.