2.3 bln euros in EU funds for Turkey through 2010

Posted by meb at February 28th, 2007

A total of 2.3 billion euros worth of EU grant funds have been allocated to Turkey to support the country’s harmonization process until 2010 within the framework of the Instrument for Pre-Accession Assistance, Dr. Holger Schröder from the Delegation of the European Commission to Turkey revealed in Istanbul yesterday.

The funds will be distributed among five main fields; institution building, cross border cooperation, regional development, human resources (more…)

Posted in Economic Indicators, Financial markets| No Comments | 

Tourism sector preparing for tourism summit this weekend

Posted by meb at February 28th, 2007

After a long interval, actors in the tourism sector will be able to get together with government officials in Antalya this weekend. Prime Minister Recep Tayyip Erdoğan and Tourism Minister Atilla Koç will be attending the summit

The government and the tourism sector are preparing to meet after a long interval. A tourism summit to be held in Antalya between March 3 and 4 will provide an opportunity for tourism sector officials and the prime minister to get together to discuss problems.
The sector, which went through a bad season during 2006, (more…)

Posted in Tourism & Travel| No Comments | 

Türkiye Finans authorizes HSBC in strategic cooperation

Posted by meb at February 28th, 2007

Türkiye Finans Participation Bank has announced that it would authorize HSBC Bank in order to evaluate the strategic cooperation proposals.
The written statement of Türkiye Finans says that due to the financial consultancy agreement which is signed with HSBC Bank, HSBC Bank will mediate the strategic cooperation proposals that Türkiye Finans receives, will consult the bank via evaluating the offers and will also handle the sale of the stock shares (more…)

Posted in Banking & Mortgage, Financial markets| No Comments | 

UniCredito transfers 50% of Koç Financial

Posted by meb at February 28th, 2007

Italian bank UniCredito Italiano SPA (UCI) has handed over its 50 percent of shares in Koç Financial Services Corp. (KFH) to Bank Austria Creditanstalt AG. UCI announced they were combining their direct and indirect banking participation in Central and Eastern Europe — excluding Bank Pekao SA in Poland — under the roof of Bank Austria Creditanstalt AG, which is already a subsidiary of UCI. (more…)

Posted in Banking & Mortgage, Financial markets| No Comments | 

Fast-growing Turkish insurers grab foreign attention

Posted by meb at February 27th, 2007

Turkey’s small but fast-growing insurance sector is coming onto foreign investors’ radars and at least four deals are on the table in the fragmented sector.
European Union candidate Turkey is attracting foreign investors with strong economic growth, a fast growing population of over 70 million and increasing wealth.
But insurance premiums far outstripped overall growth of (more…)

Posted in Business World, Foreign Investments| No Comments | 

Turkcell signs record $3 bln unsecured syndicated loan

Posted by meb at February 27th, 2007

Turkcell, the leading provider of mobile communications in Turkey, announced yesterday that it successfully closed the US$3 billion unsecured syndicated term loan facility with Akbank T.A.Ş., Citibank, NA., Garanti Bankası A.Ş., HSBC plc, J.P. Morgan plc and Standard Bnak plc as Initial Mandated Lead Arrangers (“ Initial MLA’s) and underwriters. This amount is the largest unsecured syndicated loan facility closed by a single corporate ever in Turkey. (more…)

Posted in Banking & Mortgage, Telecoms & Media| No Comments | 

CEOs of top banks expect a decline interest rates

Posted by meb at February 27th, 2007

Speaking to the media, after the signing ceremony of $3 billion Turkcell syndication credit, CEOs of the two of the top 4 Turkish banks have said they expected a gradual decline in real interest rates in Turkey in a year or two.
Akbank CEO Zafer Kurtul has said they expected real interest rates to come down in such a economic and political stability sitution in Turkey. (more…)

Posted in Comments & Analysis| No Comments | 

Belek sees future of Turkish tourism

Posted by meb at February 26th, 2007

The Belek Tourism Investors Union (BETUYAB), founded in 1989 by some of the most important tourism investors in Turkey, is the nation’s first integrated tourism project. BETUYAB’s goal is to become a world brand in tourism and its first destination is Belek, in the field of administrational, infrastructural and environmental projects, in league with the public. (more…)

Posted in Tourism & Travel| No Comments | 

Next Postings »