Turkey Financial News

Posted by meb at April 21st, 2011

Istanbul ranks among the poorest cities in Turkey by means of sustainability and habitability, according to a new survey. Eskişehir, Kayseri and Konya in Central Anatolia and the northwestern province of Bursa are the rising stars, the survey said.

In today’s global world it is cities and regions that compete, not the countries, said Mete Güney, general manager of MasterCard Southeastern Europe, during a Wednesday press conference to reveal the results of the survey.

“Under such conditions, evaluating the current situations in economic, social and environmental dimensions is crucial for cities to build their sustainable development plans,” he said. The survey was organized by MasterCard and Turkey’s Boğaziçi University.

The study is a result of data on 81 provinces in Turkey and surveys with business people from 29 specific cities. (more…)

Posted by meb at April 29th, 2009

Buying and selling prices of USD, Euro and British Pound in Istanbul and Ankara at 9:30 a.m. on Wednesday are as follows (in TL):

ISTANBUL BUYING SELLING
U.S. Dollar 1.6050 1.6100
Euro 2.1150 2.1220
British Pound 2.3600 2.3800
ANKARA
U.S. Dollar 1.6000 1.6180
Euro 2.1100 2.1330
British Pound 2.3420 2.4000

Posted by meb at April 26th, 2009

An Israeli company offering dictionaries and institutional software solutions online has opened an office in Turkey, and has signed a distribution agreement with Turkish firm Medyasoft.

Babylon offers online and electronic dictionaries in 74 languages. It is also known for its “Enterprise” solution, which facilitates data management.

The company already has 3 million Turkish users, despite having no office in Turkey until now, said Alon Carmeli, chief executive of Babylon. “We see important potential here and wish to enhance our presence,” Carmeli said. “We will strengthen our online activity with Medyasoft.” (more…)

Posted by meb at March 22nd, 2009

That the battle being waged between the parties for municipal seats is only going to heat up in the last week before local elections is something of a given. And while there is almost general consensus that the ruling AKP will be victor of most the spoils, the question becomes to what degree the opposition can cause any upsets along the way and where.

The cutthroat competition of local politics heats up this week ahead of elections March 29, and while the ruling party is expected to make convincing gains, the main opposition may yet reveal a few surprises.

The rivalry between the ruling Justice and Development Party, or AKP, and the main opposition Republican People’s Party, or CHP, is attracting particular attention in Ankara and Istanbul, where the CHP is tipped to increase its stake. (more…)

Posted by meb at February 18th, 2009

ING Group has announced plans to be the official sponsor of the Turkey leg of Formula 1 race, which take place in Istanbul Park on June 5-7, 2009.

The Istanbul leg of the face will be known as the Formula 1 ING Turkey Grand Prix. (more…)

Posted by meb at December 5th, 2008

Doğan Media Group, Turkey’s biggest media company, plans to raise its capital by 30 percent, asking partners to contribute YTL 1 (64 cents) a share.

DMG to raise capital Doğan Holding and Doğan family members, the main owners of DMG, will buy 183.5 million shares, which were trading at Ykr 64 yesterday afternoon, according to a filing with the Istanbul Stock Exchange yesterday. DMG shares lost 86.5 percent of their value since Jan. 1.Meanwhile, Doğan Holding shares were downgraded to “neutral” from “overweight” by analyst Bülent Yurdagül at HSBC. The price target is YTL 1.35 per share.
source: Hurriyet daily news

Posted by meb at November 14th, 2008

Turkey, becoming a prominent actor in the global arena, has increased its foreign aid efforts, assisting developing countries with $5.2 billion in aid over the last four years.

The Turkish International Cooperation and Development Agency (TİKA) undertakes aid projects throughout the world. TİKA has contributed greatly to the country’s efforts to help the needy, an old tradition dating back to Ottoman Empire era. Investing in the development of other countries helps Turkey improve its relations with the rest of the world. As part of these efforts, Turkey gives financial aid to other countries to support their growth and progress and help them find solutions to their problems. These projects contribute to Turkey’s efforts to bring peace and prosperity to regions that suffer from long-lasting political clashes.

The Turkish government keeps in touch with the countries it gives assistance to through their public bodies, universities and civil society organizations. TIKA carries out projects in a number of countries: according to official 2005 data, TIKA had implemented a total of 562 projects across Asia and the Caucuses, 205 across Eastern Europe and the Balkans, 28 in North Africa and 17 in the Middle East. (more…)

Posted by meb at November 5th, 2008

The İstanbul Sapphire, a revolutionary, high-tech, environmentally friendly and energy-efficient skyscraper, has risen in the heart of İstanbul.

The Kiler Group initiated the Sapphire project three years ago to build the city a prestigious building with extraordinary social and cultural facilities. Currently the tallest recently erected building in Europe, the İstanbul Sapphire is well poised to attract the attention of both foreign and domestic investors. (more…)