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Economic Problems Cost Turkish Companies Contracts.(Israle Airports Authority cancels Ceylan...

The Israel Airport Authority responsible for the Ben-Gurion International Airport 2000 expansion project has cancelled the contract awarded to the Turkish contracting company Ceylan for the construction of a new air terminal at Ben-Gurion Airport. The contract was cancelled due to Ceylan's financial difficulties and its failure to meet contractual obligations. Ceylan and some of the Turkish subcontractors working on the Ben Gurion 2000 project are in the midst of a financial crisis. Interest rates in Turkey are as high as 1,000 percent and have forced some Turkish companies into b

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