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April 8, 2016 9:41 AM
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Turkey Grants Banks Relief on Loans to Troubled Tourism Industry

Turkey moved to minimize the financial fallout from a sharp drop in tourism by creating new rules to govern the $17 billion that local hospitality firms owe the banks.
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April 5, 2016 6:12 AM
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New Models in the Turkish Labor Market

New Models in the Turkish Labor Market | Turkish Business News | Scoop.it
The Turkish Government has introduced new models into the labor market via the “Draft Law on Amending the Labor Law and Turkish Employment Agency Law” (“Draft Law”). The Draft Law, which was submitted to the Parliement on February 8, 2016, develops the legal basis for new working models such as “temporary working relationship”, “telecommuting”, and “secure flexibility”. It also widens the activity areas of private employment agencies.

Temporary Employment through Private Employment Agencies

The Draft Law stipulates amending the Article 7 of the Labor Law (No:4857), whereby the temporary employment relationship can be established by private employment agencies through a temporary employment contract or by transferring the employee to a different workplace within the same holding company or the group of companies.

 

Private Employment Agencies are defined in the Draft Law as firms established by real persons or legal entities and authorized by the Turkish Employment Agency that match eligble jobseekers with employers and/or conduct activities related to establishing a temporary working relationship.

Exceptions aside, temporary employment relationship can be established for a maximum period of four (4) months and can be renewed twice (not to exceed a total of eight (8) months). Employer who hires a temporary worker is not allowed to enter into another temporary working relationship for six (6) months following the termination of the previous temporary working contract. Temporary employment relationship cannot be established in the public sector, mining establishments and in establishments where collective dismissals have taken place. Temporary employees cannot be hired during strike and lock-out.

 

Telecommuting

Another working relationship ariculated in the Draft Law is telecommuting, whereby an employee may conduct work related activities home-based or outside the workplace using technological communication tools. The Draft Law requires that the employment contract include the job description, way of conducting the job, duration and place of work, wage, equipment provided to the employee and liabilities regarding safeguarding of this equipment,  provisions regarding communication between the employer and the employee, and general and special working conditions. The Draft Law prohibits discrimination of telecommuting employees based on the nature of their employment contract. Rules and procedures with respect to remote working/telecommuting will be determined by a regulation to be issued by The Ministry of Labor and Social Security.

 

What is Next?

The Draft Law is currently being reviewed in the Parliament. It must be noted that there has been a strong resistance from various groups, including worker unions. Despite criticisms voiced within and outside the Parliament, the Draft Law is expected to be accepted by the General Asembly with some adjustments.

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March 28, 2016 4:06 AM
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Online public consultation on the future of EU-Turkey trade and economic relations - Trade - European Commission

Online public consultation on the future of EU-Turkey trade and economic relations - Trade - European Commission | Turkish Business News | Scoop.it
Have a say in the making of trade policy
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March 23, 2016 5:31 AM
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Bilateral trade: Progress made on Pakistan-Turkey FTA 

Bilateral trade: Progress made on Pakistan-Turkey FTA  | Turkish Business News | Scoop.it
FTA framew­ork agreem­ent inked by minist­ers of both countr­ies.
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March 14, 2016 5:11 AM
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Golden age for Turkish state-owned banks

Golden age for Turkish state-owned banks | Turkish Business News | Scoop.it

As sentences like Public banks have duty losses are being consigned to history, public banks are on the agenda thanks to their record-high profits, total...

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March 4, 2016 9:40 AM
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France's Alstom to bid in Turkish rail tender, sees 100 mln euro investment -unit head

France's Alstom to bid in Turkish rail tender, sees 100 mln euro investment -unit head | Turkish Business News | Scoop.it
France's Alstom plans to bid in a tender for high-speed rail in Turkey and wouldspend 100 million euros on a production plant, the head of thetransport group's Turkish unit told Reuters on Thursday.
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February 25, 2016 10:15 AM
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Turkey, China form high-level cooperation council

Turkey, China form high-level cooperation council | Turkish Business News | Scoop.it

Turkish Deputy PM Mehmet Simsek appointed co-chair of intergovernmental mechanism; off to Shanghai for G20 Finance Ministers meet

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February 18, 2016 3:46 AM
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ECONOMICS - First step taken to establish Turkey Investment Fund

ECONOMICS - First step taken to establish Turkey Investment Fund | Turkish Business News | Scoop.it

The first steps have been taken to establish an investment fund that will develop financing for Turkish small and medium scaled enterprises’ (SMEs) innovative initiatives on Feb.

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February 5, 2016 9:16 AM
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Turkey planning $5 billion for Gaza seaport

Turkey planning $5 billion for Gaza seaport | Turkish Business News | Scoop.it
Amid rapprochement talks with Israel, Turkish team meets with Hamas officials to plan seaport - even though Israel adamantly opposes.
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February 1, 2016 5:36 AM
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Turkish Airlines eyes ‘new house’ in Istanbul

Turkish Airlines eyes ‘new house’ in Istanbul | Turkish Business News | Scoop.it
Turkish Airlines Chairman İlker Aycı has said the company was looking forward to the opening of its “new house,” the third airport in Istanbul, which will have a capacity of 90 million passengers in the first phase
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January 25, 2016 6:08 AM
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2016 awards for mid-sized sustainable energy projects in Turkey

2016 awards for mid-sized sustainable energy projects in Turkey | Turkish Business News | Scoop.it

The European Bank for Reconstruction and Development (EBRD), in cooperation with its partners, the European Investment Bank, the European Union and the Turkish Ministry of Energy and Natural Resources, will celebrate the best in sustainable energy...

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January 18, 2016 5:07 AM
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Asian bank partners with Turkey, opens doors for private sector

Asian bank partners with Turkey, opens doors for private sector | Turkish Business News | Scoop.it
Turkeys membership of the Asian Infrastructure Investment Bank will help the private sector to access funds more easily, according to the deputy prime minister. Thereby, infrastructural projects will be financed without difficulty
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November 23, 2015 6:58 AM
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EU approves construction of link roads for Turkish Stream

EU approves construction of link roads for Turkish Stream | Turkish Business News | Scoop.it
The building of the Turkish Stream pipeline is becoming more certain as the European Union announced its backing for the linking pipelines that will distribute Russian natural gas through Europe via Turkey...
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April 6, 2016 6:13 AM
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50 million Turkish Citizens’ Personal Data Has Been Posted Online

50 million Turkish Citizens’ Personal Data Has Been Posted Online | Turkish Business News | Scoop.it

On 4 April 2016, an unnamed hacker shared on the Internet, files that contain private information belonging to 50 million Turkish citizens, making it the largest public leak of personal data of its kind.

 

The leaked information includes national ID numbers, full names and addresses, dates of birth, and even parents’ names. In Turkey, national ID numbers are used for multiple government services, such as health care, social security, as well as banking services.

 

A warning that pops up where the data dump has been revealed says “bit shifting isn’t encryption”. Although the details of the data dump have not yet been confirmed by the Turkish authorities, criticisms have been voiced regarding the shortcoming of the governmental organizations in protecting personal data.

 

What is coincidental behind the story, is that the leak of personal data took place just after the approval of the Draft Law on Protection of Personal Data by Turkish Grand National Assembly.

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March 30, 2016 10:24 AM
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Louis Berger and MWH joint venture selected for 3.8 million euro drinking water project in Turkey

Louis Berger and MWH joint venture selected for 3.8 million euro drinking water project in Turkey | Turkish Business News | Scoop.it

Louis Berger, in a joint-venture led by MWH Müh Müş Ltd Şti, an affiliated company of MWH, has started conducting an overall assessment of drinking water resources and water treatment plants in Turkey as part of a 3.8 million euro (4.2 million USD) European Union (EU)-funded technical assistance project.

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March 23, 2016 7:16 AM
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Turkcell ready with 4.5G in 81Cities

Turkcell ready with 4.5G in 81Cities | Turkish Business News | Scoop.it
10 days ahead of the official launching of 4.5G in Turkey, Turkcell announced that its network is ready to start offering 4.5G services in all of the
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March 14, 2016 11:13 AM
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Dr Reddy's, TR-Pharm partner to commercialise biosimilar drugs in Turkey

Dr Reddy's, TR-Pharm partner to commercialise biosimilar drugs in Turkey | Turkish Business News | Scoop.it
Indian-based Dr Reddy's Laboratories has collaborated with TR-Pharm to commercialise three biosimilar drugs in Turkey.
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March 10, 2016 6:04 AM
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Turkey's Dogus Group increasing investment in Croatia, expects successful season

Turkey's Dogus Group increasing investment in Croatia, expects successful season | Turkish Business News | Scoop.it

The group's Dogus Croatia company holds 10.87 percent of shares in ACI and the government holds 74.47 percent.

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March 3, 2016 9:44 AM
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Earnings Exemption For Young Turkish Entrepreneurs

EARNINGS EXEMPTION FOR YOUNG ENTREPRENEURS PROVIDED BY THE LAW AMENDING THE INCOME TAX LAW AND CERTAIN OTHER LAWS Dated February 10, 2016 and published in the Official Gazette No. 29620, the Law numbered 6663, entitled “Law Amending Income Tax Law and Certain Other Laws” (“the Law”), provides an earnings exemption for young entrepreneurs. Article 1…
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February 22, 2016 7:57 AM
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Turkish PM announces plan to bolster beleaguered tourism sector

Turkish PM announces plan to bolster beleaguered tourism sector | Turkish Business News | Scoop.it

Prime Minister Ahmet Davutoglu unveiled a plan on Monday to support Turkey's tourism sector, hit by tensions with Russia and domestic insecurity, including a 255 million lira ($87 million) grant and a facility to allow tourism firms to restructure...

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February 8, 2016 3:50 AM
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Ankara, Tehran must discuss gas discount level, experts

Ankara, Tehran must discuss gas discount level, experts | Turkish Business News | Scoop.it
- Experts say if Turkey, Iran do not agree on discount level within obligatory time frame, arbitration court will rule Turkey and Iran must conclude the natural gas discount rate due to Turkey to avoid the arbitration court fixing the rate, Denis Mouralis, professor of arbitration and international trade law at Aix Marseille University, consultant…
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February 3, 2016 5:58 AM
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Turkish businesses see opportunity, and competition, as Iran opens up

Turkish businesses see opportunity, and competition, as Iran opens up | Turkish Business News | Scoop.it

The lifting of sanctions against Iran may be a mixed blessing for Turkey, opening up access to a fast-growing, lucrative market, but one that could someday rival Ankara as both an investment destination and exporter.

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January 28, 2016 6:56 AM
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Turkey keen to invest in Indian infrastructure

Turkey keen to invest in Indian infrastructure | Turkish Business News | Scoop.it
A business delegation visiting from Turkey has shown keen interest in partnering with Indian companies in the infrastructure sector viz. road, power, ports and other related sectors
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January 21, 2016 8:46 AM
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Hong Kong seeks bigger role for Turkey in Silk Road megaproject

Hong Kong seeks bigger role for Turkey in Silk Road megaproject | Turkish Business News | Scoop.it
Hong Kong looks forward to consolidating its role as a financial and logistics hub for Turkish companies looking to integrate with the multi-billion-dollar trade and transport project the “Belt and Road” as well as branching out into regional markets, local representatives say.

Hong Kong plays a pivotal role in connecting the rest of the world with China and Southeast Asia, Hong Kong Economic and Trade Office (HKETO) Deputy Representative Drew Lai told T
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January 13, 2016 9:23 AM
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Turkey Real Estate Upcoming Projects in 2016

Turkey Real Estate Upcoming Projects in 2016 | Turkish Business News | Scoop.it

Turkey Real Estate. Residential, Commercial Property Projects and Campaigns. Guides to Investment in Turkey.

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