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Wednesday, March 12, 2008

Turkish court restricts property sales to foreign firms

"Turkish court restricts property sales to foreign firms

By Paul de Bendern
ISTANBUL, March 12 (Reuters) - Turkey's Constitutional Court on Wednesday cancelled a law allowing sales of real estate to foreign companies, a potential setback in the government's efforts to open up the $620 billion economy.
Turkey's centre-right government had previously approved a law allowing property sales to foreigners as part of a drive to boost economic growth and meet legal standards of the European Union which Turkey hopes to join."

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