Economy

Those who invest in Turkey will be winners, says Turkish president Turkey’s Treasury and the European Bank for Reconstruction and Development (EBRD) on Friday signed a donor fund agreement to support what they called “socially important projects”. The agreement was signed by Deputy Prime Minister Mehmet Simsek and EBRD head Suma Chakrabarti in the presence of President Recep Tayyip Erdogan in Istanbul. According a statement, the Turkish government will co-finance socially important projects which will Read More

Economists predict 5.6 pct rise in industrial production index for November 2017 Turkey’s yearly unadjusted industrial production index for November 2017 is expected to rise by 5.6 percent, a group of economists said on Friday. A group of 15 experts surveyed by Anadolu Agency projected the figure ahead of Monday’s announcement of the industrial production index for November 2017. The unadjusted industrial production index in November 2017’s survey ranged between a 2.1 percent and 8 Read More

The leading angel investors from 75 countries too meet in Istanbul on Feb. 18-20 World’s angel investors will meet in Istanbul in February to explore the role of family offices and wealth management institutions in fostering innovation and delivering more business value. The World Business Angels Investment Forum (WBAF), which will be held on Feb. 18-20, to host the presidents and leading figures of angel investors from 75 countries which fund entrepreneurs with a transaction Read More

Bank becomes second Chinese lender to operate in Turkey after Industrial and Commercial Bank of China The Bank of China has been granted a license to operate in Turkey, head of Turkey’s banking watchdog said on Friday. “Permission has been already given to the bank. Now, license was given. Bank of China Turkey AS can officially start its banking transactions as of tomorrow, Mehmet Ali Akben, chairman of Banking Regulation and Supervision Agency, said. In Read More

Turkish business leaders say Turkey can be key player in global halal market it if adjusts its legislation as needed Turkey can be one of the key players in the global market for halal products — goods made according to Muslim standards — if the country adjusts its food legislation, the head of a leading local business association said on Monday. “We believe that when the problem of legislation — one of the problems of Read More

Amount of new companies rose by 15.12 pct year-on-year to 6,158 The number of new companies launched in Turkey was 15.12 percent higher year-on-year in May, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report released Friday. Some 6,158 new companies started doing business in Turkey in the month which was also a 3.07 percent decrease compared with April 2017, according to the report. TOBB’s May figures showed an 8.20 percent Read More

Turkcell and Huawei conduct tests, download speed tallies 70 Gbps Turkey’s leading cellphone operator Turkcell and Chinese smartphone manufacturer Huawei set a record by doing the first 5G millimeter-wave band speed test on Thursday. Turkcell and Huawei broke a new speed record in Turkey, Turkcell said in a statement. In the tests, where 5G equipment and technologies were used, the download speed tallied 70 Gigabits per second (Gbps), a target difficult to achieve using present-day Read More

Turkish airport operator TAV has signed a deal with Saudi Arabia’s civil aviation authority to operate three airports of the Gulf country in partnership with the Al Rajhi Group, the Turkish operator announced on Friday. The TAV would operate airports in Buraydah in central Qassim province, northwestern Ha’il city and western port city of Yanbu for 30 years alongside Al Rajhi Group, according to the statement. “The number of airports we operate and passengers we Read More

Number of passengers in international flights rises 6.7 pct, says Turkey’s flag carrier The number of passengers carried by Turkish Airlines rose 4.5 percent in May compared to last year, the airline announced Thursday. Turkey’s flag carrier saw a rise of 6.7 percent year-on-year in May in the number of international passengers, according to a statement from the airline. Seat occupancy climbed 3.5 points to 77.6 percent in the month compared to May 2016, according Read More