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China’s bank completes takeover of Tekstilbank

Friday, May 22, 2015 Enterprise
The Industrial and Commercial Bank of China Limited (ICBC), the world’s largest bank, has completed a takeover of some 75.5 percent of the stakes in Turkey’s Tekstilbank. “As of the date of this announcement, some 75.5 percent of Tekstilbank is held by the ICBC. After completion of the transaction, the ICBC will make…

Turkey's defense industry exports value up slighly in 2015

Friday, May 22, 2015 Finance
Turkish defense industry exports increased by 1.4 percent in January-April period, national association of exporters says. Turkey's defense exports for the first four months of this year were valued at $461 million, a 1.36 percent increase from the same period last year, according to figures from the Turkish…

Overseas investors eyeing Turkish property market

Friday, May 22, 2015 Real Estate
Leading investors from across the globe are keen to invest in the real estate properties in Turkey, thanks to its expanding infrastructure, new ground-breaking projects and historic and cultural charm, said a report. There has been about 14.6 per cent increase in numbers of foreigners buying properties in Istanbul…

Islamic financial products risk losing uniqueness: Poll

Thursday, May 21, 2015 Finance
Islamic finance continues to expand globally but the industry risks losing its differentiation from conventional financial products and lacks official data to ensure better supervision, an oversight body said. Islamic finance weathered the global financial crisis better than conventional banking and is recovering in…

Turkey to open first satellite test center

Thursday, May 21, 2015 High Tech
Project marks Turkey's expansion into international space industry. Turkey is to open its first satellite assembly and test center on Thursday, according to a statement from Turkish Aerospace Industries (TAI). The Spacecraft Assembly, Integration and Test Center, located in Kazan, to the northwest of capital Ankara,…

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May 22, 2015

China’s bank completes takeover of Tekstilbank

The Industrial and Commercial Bank of China Limited (ICBC), the world’s largest bank, has completed a takeover of some 75.5 percent of the stakes in Turkey’s…
May 22, 2015

Turkey's defense industry exports value up slighly in 2015

Turkish defense industry exports increased by 1.4 percent in January-April period, national association of exporters says. Turkey's defense exports for the…
May 22, 2015

Overseas investors eyeing Turkish property market

Leading investors from across the globe are keen to invest in the real estate properties in Turkey, thanks to its expanding infrastructure, new ground-breaking…
May 21, 2015

Islamic financial products risk losing uniqueness: Poll

Islamic finance continues to expand globally but the industry risks losing its differentiation from conventional financial products and lacks official data to…
May 21, 2015

Turkey to open first satellite test center

Project marks Turkey's expansion into international space industry. Turkey is to open its first satellite assembly and test center on Thursday, according to a…

Turkey: Consumer confidence falls on concerns over income

May 21, 2015 in Finance
Probability of savings index plunges by 11.6 percent in May. Consumers were less confident about their economic future in May, according to a report from the…

Babacan praises Islamic banking model

May 20, 2015 in Finance
Islamic banking methods are more reliable, would make Turkish finance more robust, says deputy prime minister Turkish Deputy Prime Minister Ali Babacan said on…

UN downgrades global growth forecast

May 20, 2015 in Finance
Agency warns slower economic growth could become 'new normal'. The United Nations on Tuesday downgraded its world economic growth projections for 2015. Citing…

Turkish tradesmen eye wedding stimulus in summer

May 19, 2015 in Finance
Some 600,000 couples are expected to get married this wedding season and spend around 15 billion Turkish Liras, said Bendevi Palandöken, head of the…

Turkey's EU bid to advance soon: Commissioner

May 19, 2015 in Europe
EU's top enlargement official says he hopes talks with Turkey on economic policy will be opened 'very soon'. Turkey's bid for EU membership could move forward…

Turkish foreign direct investment is $6.8 billion in 2014

May 19, 2015 in Finance
UNCTAD reports that companies in Turkey have consistently increased amounts of foreign direct investment. Turkish companies made a total of $6.8 billion in…

Turkish Cargo launches freighter services to Dakar

May 18, 2015 in Enterprise
With the launch of cargo flights to Senegal capital, Turkish Airlines brand raises its freighter network to 51 destinations. Turkish Cargo has launched…

Growth to slow in Central Asia, Caucasus: IMF

May 18, 2015 in Asia
Growth will slow in the countries of the Caucasus and Central Asia in the coming two years, according to a report by the International Monetary Fund (IMF)…

Turkey’s foreign debt declines in March; assets also drop

May 18, 2015 in Finance
Turkey's debts currently amount to 48.5 percent of the national income, with national income at $800 billion in 2014. Turkey's liabilities outside of the…

Saudi Arabia to open stock exchange to foreigners

May 18, 2015 in Stock Markets
Exchange authorities will permit large foreign investors to buy as much as 49 percent of a quoted company Saudi Arabia announced on Monday that direct foreign…

India’s Modi brings home $22 billion in China deals

May 18, 2015 in Asia
Indian Prime Minister Narendra Modi got down to business on the final day of his trip to China on May 16, saying his country was open for investment as firms…

Turkey to conduct 5G and 4G tender together

May 17, 2015 in Telecom & IT
Former Minister of Transport and Communications and AK Party Antalya deputy candidate Lütfü Elvan said Saturday that the recently postponed 4G tender will also…

Half billion Istanbulites let the train take the strain

May 17, 2015 in Transportation
More than 477 million people used the city's rail systems in 2014, a rise of 75 million on the preceding year. Istanbul has seen a rise in the number of people…

Turkish academy adapts Harry Potter into children's opera

May 16, 2015 in Culture & Art
Children affected by Soma mining disaster to benefit from JK Rowling-backed adaptation in western Turkey. Almost two decades after the first edition of the…

Google’s self-driving cars to hit public roads this summer

May 16, 2015 in Innovation
Company looking to detect ‘challenges that are unique to a fully self-driving vehicle’ Google said Friday that it will begin testing its compact self-driving…

China’s bank completes takeover of Tekstilbank

China’s bank completes takeover of TekstilbankThe Industrial and Commercial Bank of China Limited (ICBC), the world’s largest bank, has completed a takeover of some 75.5 percent of the stakes in Turkey’s Tekstilbank.

“As of the date of this announcement, some 75.5 percent of Tekstilbank is held by the ICBC. After completion of the transaction, the ICBC will make a tender offer for the remaining shares of Tekstilbank, held by... Add a comment

Read more...

Turkey's defense industry exports value up slighly in 2015

Turkey's defense industry exports value up slighly in 2015Turkish defense industry exports increased by 1.4 percent in January-April period, national association of exporters says.

Turkey's defense exports for the first four months of this year were valued at $461 million, a 1.36 percent increase from the same period last year, according to figures from the Turkish Exporters' Assembly.

The U.S. was the largest purchaser of Turkish defense hardware... Add a comment

Read more...

Overseas investors eyeing Turkish property market

Overseas investors eyeing Turkish property marketLeading investors from across the globe are keen to invest in the real estate properties in Turkey, thanks to its expanding infrastructure, new ground-breaking projects and historic and cultural charm, said a report.

There has been about 14.6 per cent increase in numbers of foreigners buying properties in Istanbul over the past 12 months, according to the recent figures released by the... Add a comment

Read more...

Islamic financial products risk losing uniqueness: Poll

Islamic financial products risk losing uniqueness: PollIslamic finance continues to expand globally but the industry risks losing its differentiation from conventional financial products and lacks official data to ensure better supervision, an oversight body said.

Islamic finance weathered the global financial crisis better than conventional banking and is recovering in areas such as profitability and asset quality, the Islamic Financial... Add a comment

Read more...

Turkey to open first satellite test center

Turkey to open first satellite test centerProject marks Turkey's expansion into international space industry.

Turkey is to open its first satellite assembly and test center on Thursday, according to a statement from Turkish Aerospace Industries (TAI).

The Spacecraft Assembly, Integration and Test Center, located in Kazan, to the northwest of capital Ankara, will initially test the Gokturk-1 satellite, a civil and military... Add a comment

Read more...

Turkey: Consumer confidence falls on concerns over income

Turkey: Consumer confidence falls on concerns over incomeProbability of savings index plunges by 11.6 percent in May.

Consumers were less confident about their economic future in May, according to a report from the Turkish Statistical Institute released on Thursday.

The consumer confidence index fell by 1.6 percent in May from the previous month. The index fell to 64.29 in May from 65.35 in April.

The index remained close to its March reading of... Add a comment

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Babacan praises Islamic banking model

Babacan praises Islamic banking modelIslamic banking methods are more reliable, would make Turkish finance more robust, says deputy prime minister

Turkish Deputy Prime Minister Ali Babacan said on Wednesday that the growth of Islamic banking would strengthen Turkey’s financial system, praising the rapid growth of Islamic banks, also known, as participation banks.

Speaking at the 14th General Assembly meeting of the... Add a comment

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UN downgrades global growth forecast

UN downgrades global growth forecastAgency warns slower economic growth could become 'new normal'.

The United Nations on Tuesday downgraded its world economic growth projections for 2015.

Citing low investment and deterioration in economies in transition such as Russia, the UN Development Policy and Analysis Division now predicts the world gross product will improve from 2.6 percent in 2014 to 2.8 percent in 2015 – a... Add a comment

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Turkish tradesmen eye wedding stimulus in summer

Turkish tradesmen eye wedding stimulus in summerSome 600,000 couples are expected to get married this wedding season and spend around 15 billion Turkish Liras, said Bendevi Palandöken, head of the Confederation of Turkish Craftsmen and Tradesmen (TESK), in a statement today.

A majority of weddings are held in the summer months, as the agricultural yields are harvested and Turkish people living abroad are able to visit the country on... Add a comment

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Turkey's EU bid to advance soon: Commissioner

Turkey's EU bid to advance soon: CommissionerEU's top enlargement official says he hopes talks with Turkey on economic policy will be opened 'very soon'.

Turkey's bid for EU membership could move forward "very soon", EU enlargement commissioner, Johannes Hahn, said Monday.

Speaking at a joint press conference with Turkish Foreign Minister Mevlut Cavusoglu and Turkey’s chief EU negotiator, Volkan Bozkir, in Brussels on Monday, Hahn... Add a comment

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