More competition expected in delayed 3G bid

Posted by meb at May 26th, 2007

Telecommunications Board President Tayfun Acarer said they were expecting a more competitive bid for third-generation (3G) — technology that allows audio-visual connection — licenses, according to the Anatolia news agency. The license tender had been postponed to September earlier this week and its estimated lowest value is around $1 billion. Acarer said the delay had nothing to do with elections as they had been working on the bid for some time. He said one bank, in addition to the current mobile phone operators, had expressed interest in the bid. “Some of the foreign (more…)

Posted in Telecoms & Media, Tenders & IPOs| No Comments | 

Basic tax rules for foreigners who own real estate in Turkey

Posted by meb at May 23rd, 2007

Throughout history states have always looked for more effective ways to collect more tax revenue from their subjects. Similarly the taxpayers have tried to devise original methods to avoid paying.
 Some dodge their tax liabilities by exploiting illegal means. On the other hand there are some who use loopholes in relevant articles of the tax laws to pay less.These statements are all valid for domestic taxpayers. Foreigners, however, generally tend to abide by the financial rules of the country that they operate in. In that sense foreign investors having establishments in Turkey — in other words foreign-based taxpayers as defined in the Income Tax Law — are very sensitive and careful about (more…)

Posted in Comments & Analysis, Real Estate| No Comments | 

Coldwell Banker coming to Turkey

Posted by meb at May 23rd, 2007

Real estate juggernaut Coldwell Banker, which has an annual turnover of $350 billion in the US and Canada, is set to enter the Turkish market.
Coldwell Banker currently has approximately 4,000 franchise offices and 130,000 real estate brokers in 35 countries. Coldwell Banker Global President Jim Gillespie said at a meeting yesterday that they had decided to (more…)

Posted in Foreign Investments, Real Estate| No Comments | 

TAV to make $400 mln investments in Tunisia for two airports

Posted by meb at May 22nd, 2007

Having purchased the operating rights for Enfidha and Monastir airports in Tunisia for 40 years, the TAV will make investments totaling $400 million. Following Georgia, TAV will operate two airports in Tunisia. TAV is planning to increase the annual passenger capacity of Enfidha Airport from 7 million to 22 million. The statement sent by TAV Airports Holding Co. to the İstanbul Stock Exchange (İMKB) said that TAV made the highest offer in the Tunisia Enfidha and Monastir Airports operation rights tender on March 16, (more…)

Posted in Airlines & Automotive, Tenders & IPOs| No Comments | 

Karsan to export taxi cabs to US and Canada

Posted by meb at May 22nd, 2007

Bursa-based Karsan Automobile Industry & Trade Corp. will export specially designed taxi cabs to the USA and Canada, the company said.
According to a press release issued by Karsan, the company signed a (MOU) making possible the export of taxi cabs to the United States and Canada for the next 10 years.
Based on the MOU, Karsan is expected to export an average of 20,000 taxis to the U.S. and Canada and earn an average of 400 million USD in (more…)

Posted in Airlines & Automotive, Export & Import| No Comments | 

Strong start to tourism season at Dalaman

Posted by meb at May 21st, 2007

The number of visitors landing at ATM Dalaman Airport in Antalya has hit 40,000 since the beginning of May, with the number of arriving tourists doubling in the last week. ATM Dalaman Airport is Turkey’s third-largest airport in terms of international arrivals and has received the “environmental consciousness” award in London. ATM General Manager Hamdi Güvenç said that Dalaman had had a very good start to the tourism season and that they were expecting this rise to continue. The airport was (more…)

Posted in Airlines & Automotive, Tourism & Travel| No Comments | 

Gold mine found on outskirts of Mount Kaz

Posted by meb at May 21st, 2007

The Mining Exploration Institute (MTA) has announced that its $2 million, eight-year-long project on the outskirts of Mount Kaz in Ayvacık, Çanakkale has yielded fruit.MTA officials said they had found signs of an important gold reserve, with analysis — at a lab in Canada — of samples taken from 7,000 meters depth revealing the reserve to be around 50 million tons at a workable concentration of 0.5 grams gold/ton. After the analysis, the (more…)

Posted in Industry & Insurance| No Comments | 

Total assets of finance sector hit YTL 565 billion

Posted by meb at May 19th, 2007

The Turkish finance sector had assets totaling YTL 564.7 billion as of the end of 2006, a 20.2 percent increase over 2005 figures, according to the Financial Market Report for December 2006, prepared by the Banking Regulation and Supervision Agency (BDDK).  The same report indicated the banking sector’s total assets at YTL 499.7 billion.

The report made general assessments about the economic climate in Turkey before providing data on the finance sector. It pointed out that (more…)

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

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