Turkish Economy - News & Updates

[Attila the Hun]

Turkey: Banking sector net profits up 56 pct in 2016

Turkish banking sector's net profits increased by 56 percent in first 9 months of 2016 year-on-year

ANKARA

The combined net profits of Turkey’s banking sector rose 56 percent to 29.1 billion Turkish liras ($9.37 billion) year-on-year in the first nine months of 2016, the Banking Regulation and Supervision Agency said in a report Monday.

Net profits over the same period last year had reached 18.7 billion liras ($6.05 billion).

Total assets increased by 176.3 billion liras ($57 billion), or 7.5 percent from January to September and stood at 2.534 trillion Turkish liras ($816 billion), the report said.

Meanwhile, credits increased 8.4 percent and reached 1.610 billion Turkish liras ($518 billion) year-on-year.

The average capital adequacy ratio, i.e. a measure of Turkish banks' capital, was at 16 percent for the January-September period, the report added.

http://aa.com.tr/en/economy/turkey-banking-sector-net-profits-up-56-pct-in-2016/675877

 

[Attila the Hun]

French Alstom eyes on Turkey's railway projects

French integrated rail transport systems producer Alstom's CEO Henri Poupart-Lafarge said Alstom has taken interest in Turkey's regional high-speed rail line, subway and signalization projects and will bid for the country's continuing and upcoming railway project tenders. He said if his company can win tenders for high-speed rail line projects, they will make more investments in the country in accordance with the domestic supply condition.

Underlining that Alstom has been a reliable partner of the Turkish railway sector for more than 60 years, Lafarge said they are determined to maintain this strong cooperation for many more years to come. Alstom offers a broad range of solutions and special services in high-speed trains, subways and trams, as well as maintenance, modernization, infrastructure and signalization. Lafarge continued, "Alstom is a preferable partner for Turkey to join the upcoming train projects."

Deputy Prime Minister Nurettin Canikli (L) speaks with Alstom Chairman Henri Poupart-Lafarge at the 9th Investment Advisory Council meeting in Istanbul on Thursday.

Alstom takes part in Turkey's public projects through technological investments. Founded in 2012, the company's Istanbul office is the center where it manages all of its projects and investments in the Middle East and Africa. Alstom employs 200 people at the Istanbul office.

According to Lafarge, Turkey is looking forward to making more investments in the development of the Turkish railway sector and making further contributions to the Turkish economy. Stressing that the Turkish government has a long-term vision, Lafarge said the Turkish government relentlessly continues to invest and carry out projects in accordance with its 2023 vision objectives despite regional challenges.

He touched on Turkey's 36 billion euros worth of investments which it aims to complete by 2023, saying the country has assertive objectives regarding both urban and intercity transport. "We are quite excited about these projects, including the Istanbul Metropolitan Municipality's five billion euros worth of subway line," he said.

Lafarge highlighted that Alstom offers all of the solutions that Turkey needs, from railway infrastructure systems to signalization, noting that they therefore taking interest in all railway projects, and especially in regional high-speed rail line, subway and signalization projects.

Pointing to the fact that the world's need for infrastructure investments continuously grows due to rising urbanization, industrialization and population, Lafarge said the global railway market will grow by more than 3 percent over the next five years and Turkey will be one of the leading countries of the regional railway market.

http://www.dailysabah.com/money/2016/10/29/french-alstom-eyes-on-turkeys-railway-projects

 

[what]

http://www.arcelikas.com/page/2107/...ness_Further_Into_Asia_With_Major_Acquisition

Arcelik is buying Pakistans biggest home appliance brand Dawlance for 250 Mio. USD

 

[Deliorman]

Istanbul set for massive film center

http://www.hurriyetdailynews.com/is...nter.aspx?PageID=238&NID=105612&NewsCatID=381

 

[Nosferatu]

Keep it going up.

Do you own a second house/property? It's the right time to sell it.

New-house sales surge 17.8 pct in September as Turkey continues steady upward climb

House sales in Turkey surged 17.8 percent in September, according to data released by the Turkish Statistical Institute Monday.

House sales soared 17.8 percent year-on-year in September to reach 108,918 units sold.

Mortgaged house sales throughout Turkey totaled 4,083 units, up 46.7 percent year-on-year, indicating the fact that more buyers preferred to purchase a home though home loans due to attractive interest rates.

In last August, many commercial banks introduced cheaper loans for home sales after the government and President Recep Tayyip Erdogan urged them to contribute towards Turkey's economic revival by providing cheap loans in wake of the July 15 coup attempt.

House sales with mortgage had a 38.6 percent share in all house sales in Turkey, according to the report.

However, house sales to foreigners went down by 27.8 percent-1,276 units sold-compared to the same month of the previous year.

 

[what]

Thats the same reason why I tell my family I will not buy anything in Turkey right now. Wait for the bubble to burst.

 

[Hindustani78]

Ministry of Home Affairs
04-November, 2016 16:58 IST
Turkish delegation led by Minister of Development meets the Union Home Minister Shri Rajnath Singh

A Turkish delegation led by Minister of Development Mr. Lutfi Elvan met the Union Home Minister Shri Rajnath Singh here today.

Shri Rajnath Singh said terrorism is a major challenge for the global community. Stating that both the countries should come onboard to fight terrorism, he said that the ISIS does not have much wider dimension here in India though it posed a major challenge to Turkey. Seeking Turkey’s support on the Kashmir issue, Shri Rajnath Singh said India seeks Istanbul’s support in the Organisation of Islamic Conference (OIC).

The Turkish Minister said the two countries should push forward the Comprehensive Trade Partnership Agreement and proposed revival of sittings of the Joint Economic Fourm. He also sought more investment opportunities for Turkish Construction Companies in India’s Infrastructure sector and said Istanbul can be a favoured transit point for trans-Atlantic destinations.

****

 

[Hindustani78]

The Turkish Minister of Development, Mr. Lutfi Elvan calling on the Union Home Minister, Shri Rajnath Singh, in New Delhi on November 04, 2016.

A Turkish delegation led by the Turkish Minister of Development, Mr. Lutfi Elvan calling on the Union Home Minister, Shri Rajnath Singh, in New Delhi on November 04, 2016.

 

[Path-Finder]

@Islamic faith&Secularism

 

[Islamic faith&Secularism]

@Islamic faith&Secularism

When there are agreements for the growth of Turkish industry, you may call it progress; but all i see now is the repairment of the broken relationship between Turkey and India due to the ''embargo'' of Turkey on India in order to make some Pakistanis happy.

 

[Path-Finder]

When there are agreements for the growth of Turkish industry, you may call it progress; but all i see now is the repairment of the broken relationship between Turkey and India due to the ''embargo'' of Turkey on India in order to make some Pakistanis happy.

good! now you are.

 

[-SINAN-]

Seeking Turkey’s support on the Kashmir issue, Shri Rajnath Singh said India seeks Istanbul’s support in the Organisation of Islamic Conference (OIC).

@Path-Finder Indians are drunk or what ?

 

[Hindustani78]

http://www.thehindu.com/news/national/turkey-wants-india-to-start-fta-talks-soon/article9306162.ece

Says the ongoing political turmoil will not impact foreign investment flows.
Turkey wants India to start talks on a proposed Free Trade Agreement (FTA) soon and said the ongoing political turmoil will not impact foreign investment flows.

Though there is an India-Turkey Joint Study Group report on “the feasibility and possibility of concluding a Comprehensive Economic Partnership Agreement” (CEPA, or in other words an FTA), there have been no dates yet for starting the FTA negotiations.

In an interview to The Hindu, Turkey's Development Minister, Lütfi Elvan said: “We (Turkey) are ready to start FTA negotiations. But we are waiting for the Indian side to move ahead. We are expecting an official Indian delegation to come to Turkey soon in this regard.”

He said Turkish companies want to make India a gateway for improving business ties in South Asia. Indian companies can use Turkey as a hub to expand operations in the European Union (with which Turkey has a Customs Union), the Middle East and Africa.

Shrinking trade

In FY’16, India-Turkey trade had shrunk nearly 28 per cent year-on-year to $4.91 billion, of which India’s exports to Turkey were $4.14 billion (contraction of 22.7 per cent), while Turkey’s exports to India fell 47 per cent to $776 million.

Asked if Turkey is planning special measures to protect investors against any losses due to the political unrest, Mr. Elvan said: “Investors have been coming even after the (failed) July coup attempt. The month following the coup, there was $1 billion worth of capital flows into Turkey. So, there is no risk at all for investments in Turkey.”

“Turkey is a safe haven for investors and has a stable environment for (foreign) trade. Turkey has many French, British and German companies, and more Europeans are coming in to do business. So we don’t feel there is any need for it (political risk cover or other special investment protection measures).”

‘Tailor-made incentives’
However, he said while there is a standardised general incentive policy for investors, Turkey now has ‘tailor-made’ incentives for investments that help Turkey meet its economic development plans including reducing foreign dependency and bringing technological advancement.

Such incentives will include up to 100 per cent discount in corporate tax, allocation of public property for up to 49 years without rent obligations and free ownership transfer of such property on meeting certain conditions, social security payment exemption for ten years and the government helping out by taking a 49 per cent stake in investment company on the condition that such holding will be offered to public in ten years.

Stating that Turkey is a world leader in Public Private Partnership (PPP) projects, Elvan said Turkey has around 211 PPP projects worth $122 billion including $66.8 billion in airport sector and $25 billion in the energy industry. “We have well-experienced companies doing PPP projects. If India invites, Turkish companies can share their experience in PPPs. The Turkish government can work on that with the Indian government,” the Minister said.

@Path-Finder Indians are drunk or what ?

COK , try to think a bit more bigger .

Hindi, Arabi, Turki , Habashi . All developing our nations under religion of Supreme Creator with peace, harmony and brotherhood.

 

[-SINAN-]

COK , try to think a bit more bigger .

Hindi, Arabi, Turki , Habashi . All developing our nations under religion of Supreme Creator with peace, harmony and brotherhood.

Developing relations is not something that i'm against.

But expecting Turkish support against Pakistan is.....pure non-sense.

 

[Hindustani78]

Developing relations is not something that i'm against.

But expecting Turkish support against Pakistan is.....pure non-sense.

India is having border dispute with China and already 19 border talks have took place.

Chinese occupied Kashmir ( COK )