Ernst & Young: Outlook positive for 2013 as investors eye Turkey

Posted by meb at January 17th, 2013

Turkey saw a record number of mergers and acquisitions (M&As) in 2012, an indication that 2013 may be a strong year for foreign and domestic investment, global consultation and auditing firm Ernst & Young told journalists gathered at a press breakfast on Wednesday.
The country saw 184 M&As by Turkish firms and 131 by foreign firms last year, with a total public value of around $23.2 billion. Clients often request to keep the value of their deals confidential, and the total value of M&As in Turkey last year might in fact be around $30 billion, Ernst & Young officials stated. (more…)

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Iraqi governor invites more Turkish investors

Posted by meb at October 25th, 2011

Baghdad could cooperate with Turkish companies in all fields, according to the Iraqi capital’s governor Salah Abdul-Razzaq.

Speaking at the inauguration of the “Turkish-Iraqi Trade Summit” in Istanbul on Tuesday, Abdul-Razzaq said that Iraq allocated $30 billion for new projects in 2011 and this figure would go higher next year.

Iraq is among the 10 countries in the world with most needs for public works. As such, there is a need for investments worth billions of dollars in Iraq.

Iraq presents highly important opportunities for investors, Abdul-Razzaq said. “We can cooperate with Turkish companies in Baghdad in many diverse fields. Turkish companies make quality production at prices lower than those of Europe. We regard Turkish companies closer to us than others. We want to see Turkish companies in infrastructure, tourism and telecommunications fields in Iraq.”

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Philips may revisit Turkey for growth

Posted by meb at October 25th, 2011

Philips is seeking double-digit growth in Turkey, according to a top executive. The Dutch company is planning to relaunch manufacturing in the country.
Multinational Dutch company Philips is aiming for aggressive growth in the robust Turkish market, according to the top executive of the Turkish branch of the company, who noted that Phillips is considering joint ventures and acquisitions in Turkey to achieve its goals.

Philips might consider restarting manufacturing in Turkey due to “tremendous change” in global economic stability in recent years, said Willem Rozenberg, chief executive of Philips Turkey & Caucasus, speaking to the Hürriyet Daily News in an interview on Thursday. Founded in Istanbul in 1930, the company manufactured a wide range of products in Turkey until 2008. Talking about the future plans of the company, Rozenberg said, “The company might return to Turkish with an industrial presence in some form.” (more…)

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Turmoils shift the axis of Islamic investments

Posted by meb at October 25th, 2011

The ongoing unrest in North Africa and the Middle East have directed many investors from Gulf countries to Turkey. The newcomers include many Islamic bankers, says to top executive of Dubai-based Noor.
Turkey has attracted significant investments from Gulf countries as well as Islamic bankers due to the Arab Spring in the Middle East and North Africa, according to the top executive of the Dubai-based Noor Islamic Bank.

“Turkey served as the safe haven regarding investments from the Middle East,” said Hussain Alqemzi, Noor’s chief executive officer, speaking to the Hürriyet Daily News yesterday on the sidelines of the Islamic Investment and Finance Forum in Istanbul.
“Certainly we would like to see more stability in the region, which would pave the way of the investment climate,” Alqemzi said, adding that the Noor Islamic Bank has been mandated to arrange and manage more than $1.4 billion Islamic finance capital market deals in Turkey in the last 18 months, making it the most active United Arab Emirate bank in the country.
(more…)

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It’s Turkey time, board report says

Posted by meb at October 20th, 2011

This is the best time to invest in Turkey, according to a recent report that will be presented to U.S. investors and fund managers who decide on the flow of millions of dollars in funds.

The Boston Consulting Group’s Turkey branch and the Foreign Economic Relations Board of Turkey (DEİK) will present today a report on the “Global Advantage of Turkey” at the Turkey Investment Conference in New York, hosted by the American Turkish Society and Goldman Sachs.
Automobiles, textiles, chemicals, steel and food are underlined as export champion industries in the report. It also emphasizes Turkey’s importance technologically and socially, not just the country’s strategic importance. (more…)

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TeliaSonera says it plans to stick with ownership in Turkcell

Posted by meb at April 19th, 2011

Swedish telecommunications operator TeliaSonera is going to stick with Turkcell, Turkey’s largest mobile operator where it holds a 38 percent stake and who is now trying to get more independent directors appointed to the board, Chief Executive Officer Lars Nyberg said in a telephone interview on Tuesday.

“If you, as the biggest owner, consider leaving because a company is going through some difficulties, you are then more of a short term investor,” Nyberg said. “TeliaSonera is a telecom operator, we love this asset and we intend to keep it.” (more…)

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‘I would make equity investments in the Turkish economy’

Posted by meb at October 19th, 2009

The Turkish economy has registered superb improvement in competitiveness in recent years and proven its potential as a magnet for international investors, world-renowned strategist Professor Michael Porter has said. Addressing a group of businessmen and reporters on Saturday at a conference organized by Ä°ÅŸTcell, a Turkcell brand directed at corporate customers, Porter, director of Harvard Business School’s Institute for Strategy and Competitiveness, said that if Turkey were traded on the stock market, he would definitely make an equity investment in the country.

During the first part of his speech, Porter described the major premises of creating strategies and determining and developing a competitive approach and the role of leaders in the competitiveness of a company. He also shared his views on possible strategies that may be adopted during times of economic crisis. He devoted the second part of his speech to discussing Turkey’s economic strategies, including an in-depth analysis of the business world’s role in these strategies. (more…)

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Turkish Investment Summit takes off in London

Posted by meb at October 19th, 2009

The Turkish Investment Summit opens at the Renaissance Chancery Court Hotel in London on Tuesday.

The three-day program will provide plenty of time for social networking, acquiring new contacts and discussing business with potential partners and clients.

Organized by the Turkish Embassy in London and the European Bank for Reconstruction and Development, the Turkish Investment Summit will provide an in-depth look into the global and domestic outlook for Turkey, including a spotlight on European Union accession. (more…)

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