Turkish Business News

British insurer Aviva is considering acquisitions in Poland and Turkey, its chief executive said on Thursday, as it reported a 2 percent rise in operating profit and said it planned to return 500 million pounds to shareholders.

Manisa, a vibrant industrial town in Turkey’s Western Anatolia region, has had a lot of visitors from Japan recently. On February 8, the Japanese multinational electronics and electrical-equipment manufacturer Mitsubishi inaugurated a new air-conditioner factory on the outskirts of the city, which came with an investment of US$100 million.

A high level delegation of the Pakistan Furniture Council (PFC) Friday left for Turkey on 4-day visit to explore new investment avenues by sharing their vision, expertise for the formulation of future policies, economic studies and project-specific reports in addition to promotional efforts. Talking to media at airport prior to his departure, PFC Chief said the delegation will have an in-depth discussion with their counterparts in Turkey

The European Bank for Reconstruction and Development (EBRD) aims to have a “very strong investment” in Turkey this year, according to Suma Chakrabarti, the bank’s president.“I think we will have a very strong investment in Turkey, around €1.5 plus-billion of investment I think,” Chakrabarti told Anadolu Agency on Tuesday, ahead of his two-day visit to Turkey on Jan. 18-19.

Qatar’s investment in Turkey has surged over $19bn (about QR70bn), which is expected to increase further in the coming years.  Qatari investments in Turkey is the second highest value by any country in Turkey. The invesment is diversified in different sectors of the fast growing Turkish economy such as real estate, banking, food processing industries among others.

Chamber of Commerce and Industry saw the Uzbek-Turkish business forum on December 25. The purpose of the event was to promote trade relations between Uzbek and Turkish companies, working on the creation of new joint ventures and implementation of new investment projects.

A Qatari businessman on Saturday urged his Gulf state colleagues to invest in Turkey and praised the quality of Turkish products.

Visiting several factories in Kesan in Turkey’s northwestern Edirne province, Sheikh Faisal bin Qassim bin Faisal Al-Thani said he himself wants to invest in Turkey. “We want to establish 10 or 15 factories in Turkey,” he said.

Qatari investment in Turkey is expected to top $20 billion next year, making Turkey among Qatar’s top five foreign investment destinations

Turkish and Kazakh companies signed Saturday investment agreements worth of $590 million, according to Kazakhstan's Prime Ministry. Kazakhstan's national company Kazakh Invest and Turkey's private companies including Calik Holding, Yildirim Holding, Yildizlar SSS Holding and Agrobest Group made agreements with the efforts of Embassy of Kazakhstan in Ankara,

Second Turkish ship is set to deliver food supplies to Qatar by the end of August as the loading process has entered into final phase in western Turkey's Izmir province. To meet increased demand of fruits, vegetables and other edibles on the eve of forthcoming Eid al Adha, second Turkish ship loaded with food supplies will dock at Hamad Port on August 26.

Ryan Shi, the senior manager of ZTT Group's international business division, announced the company's decision to manufacture high and extra high voltage cables in Turkey. The ZTT's senior group executive said that it will invest $65 million in Turkey in the first stage with the purchase of three existing cable-producing factories in Bursa, Bilecik and Eskişehir, while totaling $110 million over two years.

Department of Trade and Industry (DTI) Secretary Ramon Lopez led a delegation to Turkey to convene the first Philippine (PH)-Turkey Joint Committee on Economic and Technical Cooperation (JCETC) as well as the signing of Summary of Discussions covering trade, investment promotions, and economic cooperation on 5-6 February 2018. The Philippines is committed to pursue several growth opportunities by strengthening partnerships with emerging economic partners like Turkey,” said Sec. Lopez

Sinemia, an online-movie ticketing business started by a Turkish developer, is in talks with US-based venture-capital investors to fund an expansion in the world’s largest cinema market.

The company is seeking to attract US$50mil by mid-2019, Rifat Oguz, who founded Sinemia in 2015, said in an interview in Istanbul. It has already sold 30% to investors including Mountain View, California-based 500 Startups Management Co, Aslanoba Capital and Revo Capital Management,

Chairman of Sberbank's executive board, Herman Gref, tells Anadolu Agency it remains committed to Turkish operation -The CEO and chairman of the executive board of Sberbank, Herman Gref, has said it has preserved its business priorities in Turkey and will gladly continue to support infrastructure projects in the country. Sberbank, Russia’s biggest by assets, bought its Turkish unit DenizBank in 2012 for around $3.5 billion -- the Russian bank’s largest overseas acquisition to date.

The leaders of the energy industry in Turkey are scheduled to meet on Oct. 10-11 in Turkey's world-renowned holiday resort of Antalya at theEighth Energy Summit with Energy and Natural Resources Minister Berat Albayrak in attendance. The summit is organized under the auspices of the Energy and Natural Resources Ministry and in association with Turkey's Energy Market Regulatory Authority (EMRA) energy watchdog. 

SINGAPORE - Turkey is a promising and dynamic market which presents opportunities for Singapore companies, while Singapore can serve as a springboard into Asia for Turkey companies, said Mr S Iswaran, Minister for Trade and Industry (Industry) on Monday (Aug 21)