Turkey's economy beats in Istanbul

Turkish Daily News - Istanbul, which has a crucial status since it connects two continents, Asia and Europe, is the heart of Turkey in many areas particularly in terms of the economy, various figures reveal.

As the world's only city situated on two continents, Istanbul has recently developed particular activities to turn the city into a finance center under the leadership of the Banks Association of Turkey (TBB). The city, more crowded than several European countries with a population of over 12 million, is drawing attention with foreign investments it has attracted in recent years.

The Istanbul Stock Exchange (IMKB) reached a transaction volume of YTL 387.8 billion as of December 2007, while the IMKB National 100 Index ranked 11th among 60 world bourses, with an annual gain of 42 percent.