Turkish Business News

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)

The EBRD is investing 100 million Turkish lira (€24 million equivalent) in a four-year TRY 350 million (approximately €84.2 million equivalent) bond issued by Turkey’s Doğuş Holding, one of the country’s leading conglomerates.The EBRD is investing 100 million Turkish lira in a four-year TRY 350 million floating rate note. The issue is using  the Turkish Lira Interbank Offer Rate (TRLIBOR) as a benchmark, allowing for effective interest rate hedging and wider participation by investors.

The accumulative capacity of solar PV plants, which will be developed with the help of the funds at eight locations across Turkey, amounts to 70 MW.

Turkey s gross domestic product (GDP) growth rate has increased by five percent in the first quarter of 2017 compared to figures in the same period last year, data from the Turkish Statistical Institute (TÜİK) showed on June 12.

Beko, part of Koç Holding A.S. (Koç Holding), Turkey’s largest industrials conglomerate, and Voltas Limited, part of the Tata Group, India’s largest conglomerate, have announced a deal that will see Beko and Voltas, India’s largest air conditioning brand, enter into a joint venture (JV) for consumer durables.

New joint venture will focus on developing aircraft engines for Turkish project. World-famous U.K-based engineering firm Rolls-Royce on Monday signed a deal with Turkey’s Kale Group -- a defense and aerospace business -- to produce aircraft engines. Rolls-Royce said the two companies will establish a joint firm to produce engines for Turkey, particularly for Ankara’s fighter-jet project -- the TF-X. Kale Group will own 51 percent of the new joint venture, with Rolls-Royce accounting for the remainder.The deal was signed by Kale Group Deputy CEO Osman Okyay and Rolls-Royce Defence Aerospace President Chris Cholerton in Istanbul.

Qatar Postal Service Company (Q-Post) has signed a memorandum of understanding (MoU) with Turkish Post in the area of e-commerce. The agreement was signed by Q-Post chairman and managing director Faleh al-Naemi and Turkish Post chairman and director-general Kenan Bozgeyik on the occasion of the opening of ‘Expo Turkey by Qatar 2017’ yesterday.

Turkey's strategy to boost the country's domestic energy resources continued with Monday's solar tender, but wind energy will be the next step in this strategy, Energy and Natural Resources Minister Berat Albayrak said Monday.Today is 'day of revolution' for Turkey's energy sector with Monday's solar tender.

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.

Three countries in the Southeast Europe installed new wind capacity in the first half of 2017, with Turkey leading with 377.85 MW.

Turkey is a key and safe harbor for energy investments, the Turkish Energy Minister Berat Albayrak said Sunday at the 22nd World Petroleum Congress in Istanbul. Albayrak, speaking at the opening ceremony of the Congress, of which Anadolu Agency is the global communications partner, said the oil and gas sector had and would continue to have an economic impact for decades to come, and therefore, investments in this sector are required for future energy security.

SOCAR Turkey Enerji A.S., a subsidiary of Azerbaijan’s state oil company SOCAR in Turkey, is working on a project to create a new chemical enterprise in Turkey, Head of SOCAR Turkey Enerji Zaur Gahramanov told Trend.According to Gahramanov, most likely, it will be a joint venture.

StarTimes Group seeking a strategic partner to work with Turkey, says official of Chinese broadcasting giant - Chinese media firm Startimes Media plans to work with Turkey and enter the Turkish market, the company's overseas marketing development director said Tuesday. Turkey is an important country for our company. We started to talk with Turkish officials and currently looking for a strategic partner in the country, Wang said when the media giant finds a partner, it will invest at once.

From building bridges and solar plants to snapping up cinema chains, South Korean companies are doing a lot more business in Turkey since a free trade agreement took effect in 2013.

In mid-March, a consortium led by SK Engineering & Construction won a contract to build the world's largest suspension bridge, in western Turkey.

Turkey-Africa First Agriculture Ministers Meeting and Agribusiness Forum to be held on Thursday and Friday. Turkey aims to boost agricultural trade and investments with African countries via the Turkey-Africa First Agriculture Ministers Meeting and Agribusiness Forum, Food, Agriculture and Livestock Minister Faruk Celik said on Wednesday.

"Whatever the result of the elections, we will continue working vigorously,” a young entrepreneur told me during a visit to his plant. Just as we have now left behind the referendum, which showed us one more time how divided the society is, the statement of this young entrepreneur is perhaps enough to be hopeful for the future. His name is Murat Öztürk. He was born in Germany. His father was one of the first Turks who left to work in Germany.