Turkish Economy - News & Updates

[anatolia]

i had some aselsan share as well iam willing to buy more aselsan!

 

[Attila the Hun]

New Zealand Ambassador to Ankara, Andrew Curr (L) and Australian Ambassador to Ankara, James Larsen
The Envoys of New Zealand and Australia to Ankara stressed the significance of ANZAC Day for their respective countries, saying that it keeps national consciousness and identity alive and it, in many ways, defined who they are as people.
On April 25, 1915, the Australian and New Zealand Army Corps (ANZAC) landed on the shores of Gallipoli in Turkey where Aussies and Kiwis fought together for the first time during World War I. Even though the Gallipoli campaign was not a military success, it left behind a powerful legacy, creating what is known as the "Anzac legend." Therefore, April 25 is commemorated as Anzac Day by both Australia and New Zealand. As this year marks the 102nd anniversary of the Gallipoli War, Australian Ambassador to Ankara James Larsen spoke about the significance of Anzac Day, saying that it is very much a core part of Australia's national history, asserting that "It [the Gallipoli War] defined who we are as a nation in many ways, in the sense of our soldiers going overseas to war for almost the first time in Australian uniform, fighting under the Australian flag for almost the first time."

New Zealand Ambassador to Ankara Jonathan Andrew Curr also underlined the significance of Anzac Day for New Zealand's national awareness and identity, emphasizing that it is a day that marks the founding of the Anzac relationship. "Anzac Day also marks service in the Second World War, Korea, Malaya, Vietnam, Bosnia and Afghanistan, as well as our many other peacekeeping operations.'' Ambassador Curr said.

Regarding the impact of Anzac Day on bilateral relations, New Zealand Ambassador Curr said Anzac commemorations have a tremendously positive influence on bilateral relations, noting: "Despite the conflict on the Gallipoli Peninsula over a century ago, a strong friendship has grown out of reconciliation between our two nations." The ambassador went on to say, "[The] Gallipoli [War] is widely regarded by both sides as the foundation of our friendship and it has brought two countries that are both very different and far away from each, closer together in a special way. It is also an example for the world of how reconciliation and friendship can arise out of conflict," he added.

From the Australian perspective, Ambassador Larsen says that Anzac commemorations are milestone events for bilateral relations. "When I came here [to Turkey], I was astonished by how deeply felt and profoundly influenced our Turkish perceptions are by the Battle of Gallipoli and how much our Australian relationship is often perceived through the prism of the shared Gallipoli experience. I think one of the reasons for this is, if you look at the archives and see the letters that the soldiers sent home. ...In these letters, they talk about the admiration the Australian soldiers had for their Turkish foes and the decency the Turks showed to the Australians," Larsen said.

Commenting on the future of Turkish-Australian relations Ambassador Larsen said Australia is here for the long-term in terms of its strong and friendly relationship with Turkey and the Turkish people. "So, our ambition is to look at the positive aspects of our relationship and foster these relations to allow our countries to continue to be more productive, more collaborative and build on [the relationship] we have. One area in which we would like to do more business. I want to encourage more Australian businesses to look at Turkey and, of course, Turkish businesses to look at Australia for opportunities," Larsen said "If you look at the strengths of the Australian economy, they are very conducive to what we would like to do in Turkey especially in the mining, agriculture and education sectors," he added.

"In education, we would love to see more Australians come to Turkish universities and more Turks come to Australian universities. Australia is a superpower in the mining sector. I think there is vast potential for the resources industry in Turkey over time, so, we would be very happy to share investment, knowledge, expertise, and two-way opportunities. In agriculture, Australia and Turkey are very similar large countries with a vast agriculture sector. We can collaborate much more with business partnerships regarding the types of animals we choose in agriculture, the type of crops we cultivate, the technology we use, and water supply. There is lots we can do," Ambassador Larsen concluded.

Regarding the future of Turkey-New Zealand relations, New Zealand Ambassador Curr underlined that there is a lot that can be done. "We are interested in enhancing cooperation in the economic sphere and New Zealand will host a meeting of the New Zealand-Turkey Joint Economic Commission later this year. The potential for closer cooperation is enormous. There is so much more we could do if there were freer trade between New Zealand and Turkey, especially in regards to agricultural goods. We hope that it will be possible to work with Turkey for the establishment of a Free Trade Agreement (FTA) in the future," he said. "We consult regularly on foreign policy issues. We value Turkey's views on the surrounding region, especially the Middle East, and we share our views on the Asia-Pacific region. We plan to hold political consultations later this year," he added.

"We work cooperatively on international issues such as the Syrian refugee crisis. As a responsible member of the international community, we want to help Turkey deal with this burden, through support for the U.N. organizations working here and through bilateral mechanisms. We have been working on an agreement to fund the construction of a school in [Turkey's] Şanlıurfa province to help meet educational needs there. We also stand with Turkey in the fight against terrorism, and are both part of the coalition against Daesh," Ambassador Curr concluded.

https://www.dailysabah.com/diplomac...honor-anzac-day-aim-to-boost-ties-with-turkey

 

[Attila the Hun]

Ardahan, Turkey's smallest province, will realize an EU-supported infrastructure project for which it will receive investments amounting to 6.2 million euros ($6.7 million).

As part of the project, an innovative gondola lift will be built to grant easy access to the skiing area on the Yalnızçam Mountain, which will significantly increase the area's tourism potential.

During an assessment meeting held with the Special Provincial Administration of Ardahan and the company ATC as project partners, details of the plans were announced by the secretary-general of the Special Provincial Administration of Ardahan Anıl Aksel, Nezih İşçi as company executive of ATC and the chairman of Ardahan's Chamber of Commerce and Industry (ATSO) Çetin Demirci.

The gondola lift will use cutting edge technology, and allow passengers to reach the Yalnızçam Mountain in comfortable cabins which provide complete weather protection.

Speaking to Anadolu Agency, Aksel stressed that the project was the first of its kind and that it could even become a model for the European Union. The length of the line will amount to three kilometers, and new skiing trails to be built in the area will have a length of four kilometers.

The project, which has gone through the approval stage, is scheduled to be completed this year to make Ardahan ever more attractive to visitors.

As ATSO chairman Çetin Demirci underlined: "These facilities will bring a very important tourism potential to the region. From a touristic point of view, the Black Sea, our neighbor Georgia and nearby countries are among our target markets."

He added that the aim was not rivalry, but that the tourist potential of the area should be developed in a cooperative way and that they were open to working together with foreign investors.

https://www.dailysabah.com/tourism/...t-to-transform-tourism-in-northeastern-turkey

 

[WebMaster]

@Attila the Hun use this thread.

 

[Attila the Hun]

@Attila the Hun use this thread.

Sure, whatever.

There're a few more threads you can move over here too. If you don't mind. In the ME section.

 

[Attila the Hun]

Foreign investment inflow to Turkey reaches $457 million in February

Turkey received $457 million in foreign direct investment in February, the Economy Ministry stated in a report on April 24.

Foreign investment in Turkey reached $1.059 billion in the first two months of this year, down by 34.3 percent compared with the same period last year.

The manufacturing sector got the largest amount of foreign direct investment at $162 million, followed by the mining sector with $151 million in the January to February period.

There were 420 new foreign-funded companies established in February 2017, making a total of 54,038 companies with international capital operating in Turkey. A total of 6,927 of these were funded by German capital, while U.K. investors financed 3,008.

http://www.hurriyetdailynews.com/fo...ary-.aspx?pageID=238&nID=112399&NewsCatID=345

 

[Attila the Hun]

European bank invests in Turkey’s leading packaging company

The European Bank for Reconstruction and Development (EBRD), Actera – the leading private equity investor in Turkey – and Esas Holding – a venture capital firm established by the Sabancı family –are acquiring a majority stake in Korozo, the leading Turkish producer of flexible packaging, the EBRD said in a statement on April 25.

The new shareholders are moving to unlock the company’s growth potential and increase its competitiveness and integration in international markets, according to the statement.

Founded in Istanbul in 1973 by brothers Liya and Refael Duvenyaz, Korozo has grown to become a major manufacturer of flexible packaging in Europe and the largest in Turkey.

The company has nine plants across Turkey with a total capacity of 98 tons per year and is currently building a state-of-the-art facility in Çorlu, Tekirdağ province, in the northern Marmara region, to expand production and boost exports, according to the statement.

More than half of Korozo’s production is exported to 80 countries worldwide.

Jean Marc Peterschmitt, EBRD Managing Director for Industry, Commerce and Agribusiness, commented:

“Korozo is a great example of an ambitious Turkish firm which has started as a family business and grown into a truly international player. We are proud to become shareholders and support the company in its next phase of development as it seeks to become one of Europe’s leading producers of flexible packaging. It is this spirit of entrepreneurship, fuelled by skills and ambition, which is the driving force of the Turkish economy.”

Jeki Mizrahi, CEO of Korozo, said: “This partnership is a big step forward that will accelerate Korozo’s growth and investments to achieve our vision of becoming a leading player in the European packaging industry. We will continue to contribute to the Turkish economy, drive market growth and add value for all our business partners.”

http://www.hurriyetdailynews.com/eu...pany.aspx?pageID=238&nID=112414&NewsCatID=345

 

[Deliorman]

 

[Attila the Hun]

Foreign interest in Borsa Istanbul peaks in April, hits 1.5-year-high

A trader works in the Borsa Istanbul building. The foreign exchange rate on the Borsa Istanbul reached its highest level since November 2015 with a 65.2 percent in April.
While interest from foreign investors in the Borsa Istanbul stock exchange has reached its highest level in one-and-a-half years, the BIST 100 index peaked to an all-time high yesterday
The foreign exchange rate on Borsa, calculated from data published by the Central Registry Agency (CRA), reached its highest level since November 2015 with 65.2 percent in April. According to the information collected by Anadolu Agency (AA) from the Central Bank of the Republic of Turkey (CBRT), CRA and Borsa Istanbul, the share stocks of non-residents regarding monthly transactions stood at $41 billion and the net value of purchases made since the beginning of the year by foreign investors totaled $922 million.

The fact that foreign investors are on the net purchasing side this year, especially in the banking sector, has led to a 26-percent appreciation of bank shares on average with a high weight on the index since the beginning of the year.

Stock market gains 20 pct on average

The BIST 100 index, which has been on an upward trend since January under the leadership of shares from the banking sector, has surpassed 93,000 points for the first time since May 2013, bringing it to a new record of 94,332.89 points yesterday morning. Borsa Istanbul has brought an average of 20 percent to its investors since the beginning of the year.

The foreign exchange rate in Borsa has maintained a downward trend since seeing its historical peak of 72.5 percent in October 2007 and presented fluctuation within the 61-to-66 percent band range since 2012.

While the portfolio values of foreign investors continue to increase in terms of both nominal and market value, the decrease in the number of investors is also drawing attention. The number of foreign investor has fallen from 9,500 to 9,443 compared to the previous year, according to the latest data.

On a country-by-country basis, the U.S. ranked first with a portfolio value exceeding TL 58 billion ($16.14 billion), followed by the U.K. with TL 25.8 billion ($7.18 billion), Luxembourg with TL 12.1 billion ($3.37 billion), the Netherlands with TL 10.4 billion ($2.89 billion) and Qatar with TL 7.9 billion ($2.20 billion).

Gedik Yatırım Research Manager Üzeyir Doğan told AA that there is a very strong correlation between Borsa Istanbul and the foreign exchange rate, pointing out that even a one-point fluctuation in the share of foreign investors, which has not fallen below 61 percent in recent years, has an impact on the course of the index, adding that foreign investors' entry into the Borsa Istanbul share market, which was made attractive by low multipliers at the end of 2016, has strengthened.

Stressing that the increase in CBRT funding costs in January and the confidence given by the tight stance in terms of monetary policy have given momentum to the entry of foreign investors, Doğan said, "Exchange rate estimates at the time of entry and exit as well as the valuation of stocks have an effective impact on the entry of a foreign investor into a country. The fact that the decisions taken by the CBRT in January and the current interest rates omitted the Turkish lira from being an easily sellable currency became the main factor that boosted interest in Borsa Istanbul which holds attractive long-term valuations."

Noting that the current levels in the BIST 100 index are still attractive for investors considering a few years of maturity, Doğan said that the increasing anticipation of the 2019 general elections after the April 16 referendum have a positive impact on investor decisions in terms of Turkish lira assets.

On the other hand, pointing to the recent debates on the reinstatement of the death penalty in Turkey that suggest the possibility of a new referendum as well as the extension of the state of emergency, regulations on the transition to the presidential system of governance and possible Cabinet changes coupled with worries that politics might be brought to the fore of economic trends and data for some time; potentially suppressing the appetites of investors, Doğan suggested that foreign investors might monitor their positions in the short term from time to time in accordance with the political and geopolitical developments. He said, "Even though the wide perception is that foreign investors maintain their positions for a very long time, recent short-term position changes, including algorithmic transactions, are also a point of focus," Doğan said. "However, it should not be ignored that the mobility in the markets diminishes during the May-to-September period, so new entries can diminish in this period, as well."

https://www.dailysabah.com/economy/...rsa-istanbul-peaks-in-april-hits-15-year-high

 

[Attila the Hun]

Turkey’s foreign trade deficit falls by 10 percent in March

The foreign trade deficit of Turkey fell by 10.3 percent to reach $4.49 billion in March, compared to the same month last year, the Turkish Statistical Institute (TurkStat) reported on Friday.

TurkStat's data showed that exports increased by 13.6 percent to $14.49 billion in March, compared to the same month in 2016, while imports soared by 6.9 percent to $18.98 billion year-on-year.

The report revealed that the Turkey's imports from the EU made up 46.7 percent of the total imports, a 2.4 percent decrease from 49.1 percent in March 2016. Exports to Europe increased by 8.1 percent compared to last year, reaching $6.77 billion in March.

Germany led the list of the main countries for exports with trade reaching $1.32 billion, closely followed by the United Arab Emirates with $1.28 billion, Iraq with $906 million and the United Kingdom with $874 million.

Germany was also the top country for Turkish imports, worth $1.78 billion. Imports from China reached $1.77 billion, followed by Russia with $1.59 billion and the U.S. with $952 million.

https://www.dailysabah.com/economy/...gn-trade-deficit-falls-by-10-percent-in-march

 

[Deliorman]

So we are still behind 4.5$ bln in March only... that's the important info in this whole article not that sweet headline they decided to put on top.

That info sounds pretty bad especially when we consider the fact that we are one of the countries with the worst foreign trade deficits in the world. This won't end without solving Turkey's main problems: getting more energy and resource efficient (here we can include all resources: money, time, working force etc...), without producing more things with higher added value, without improving our educational system- a system that will create much better specialists for all sectors of economy and science.

Unfortunately Turkey's leaders are not Korean, Japanese or Taiwanese.

 

[Attila the Hun]

Turkey's exports to Russia increase by 41 percent in Q1

The steps toward the normalization of Turkish-Russian relations, which were strained by the fighter jet crisis in November 2015, continue to positively impact foreign trade data, according to the statistics of the Turkish Statistical Institute (TurkStat).

Turkey's exports to Russia declined to $1.4 billion in the first three months of 2014 from $1.7 billion in the same period of the previous year. Also, they fell to $912 million in the first quarter of 2015 and to $353 million in the first quarter of 2016. Exports reached $498.1 million in the first quarter of this year, soaring by 40.9 percent compared to the same period last year.

Meanwhile, imports from Russia to Turkey neared $6.2 billion in the first quarter of 2013 and rose to $6.7 billion in the same period of 2014. They dropped to $3.9 billion in the first quarter last year from nearly $6 billion in the same period of 2015. Imports from Russia neared $4.4 billion in the first quarter of this year with an 11.5 percent increase compared to the same period last year.

As far as the items of foreign trade between Turkey and Russia go, the highest increase in exports was seen in fruits in the first quarter of this year compared to the same period of the previous year. The amount of fruits and nuts that Turkey sold to Russia amounted to $50 million in the January-March period of last year and to $88 million in the same period of this year. There was also a significant increase in the amount of Turkey's exports to Russia in apparel, boilers and machines, electric machines and motor land vehicles.

The greatest decline in imports was in cereals and animal and vegetable fat and oil. The amount of cereals imported from Russia decreased to $120 million in the first quarter of this year from $180 million in the same period last year, while imports of animal and vegetable fat and oil decreased to $153 million from $228 million in the same period. The imports of mineral fuel from Russia rose to $2.565 billion from $2.207 billion, while imports of iron and steel increased to $733 million from $507 million in the same period.

https://www.dailysabah.com/economy/2017/05/01/turkeys-exports-to-russia-increase-by-41-percent-in-q1

Wind energy set to receive investment worth $1.2B

The Renewable Energy Resource Areas (YEKA) model, initiated by the Ministry of Energy and Natural Resources in wind power following solar energy, will bring an investment of approximately $1.2 billion to Turkey. With the 1000-megawatt (MW) power plant planned to be commissioned in 2023, the electricity need of 1.2 million households will be covered from wind power. Mustafa Serdar Ataseven, chairman of the Turkish Wind Energy Association (TÜREB), said companies from the U.S., China, Germany, Denmark and many other European countries are already interested in the tender and that bids will be submitted from July 22 to July 27, stressing that the first YEKA project will provide employment to thousands of people.

The process has been accelerated for the wind by YEKA, which was launched by Energy and Natural Resources Minister Berat Albayrak in order to end Turkey's external dependency in energy and ultimately place it in the category of exporting countries. Noting that they expect the tender to be held at the end of August, TÜREB Chairman Ataseven said the first wind YEKA will provide electricity to approximately 1.2 million households. Ataseven stated that approximately 350 to 400 turbines will be placed in the areas to be selected by the company to win the tender, adding that they expect an investment of $1.2 billion in Turkey with the project.

Seven regions determined for power plants Explaining that the winner of the tender will operate in seven regions to generate wind power with a total capacity between 1,000-1,700 MW, Ataseven said 700 MWs of the said capacity can be established in the Edirne-Kırklareli-Tekirdağ region, followed by 200 MWs in the Ankara-Çankırı-Kırıkkale region, 200 MWs in Kayseri-Niğde, 200 MWs in Sivas, 150 MWs in Malatya, 150 MWs in the Bilecik-Kütahya-Eskişehir region and 100 MWs in the Burdur-Denizli-Uşak region. Noting that a 1,700-MW capacity was foreseen by investors, Ataseven said, "The allocation of 700 MW to the Edirne region was considered in terms of supply security. Energy is generated in Turkey's east and transferred to the west. Feeding Thrace requires a transition from both Çanakkale and the Bosporus. Rather, we thought ‘Let's produce in Thrace and consume there.'"

https://www.dailysabah.com/energy/2017/05/01/wind-energy-set-to-receive-investment-worth-12b

 

[KediKesenFare3]

Could you please use front size "4" next time?

 

[Attila the Hun]

Could you please use front size "4" next time?

I don't know how to.

 

[KediKesenFare3]

I don't know how to.