EBRD to offer new financing facilities to Turkey

Posted by meb at February 28th, 2008

The European Bank for Reconstruction and Development (EBRD), which is getting prepared to withdraw from the countries in central Europe, plans to make investments in Turkey in the upcoming period.

Until 2010, EBRD will cut its financial support to the 8 former Eastern Block countries which have become EU member states in 2004, sources said.

The bank, known as the “World Bank” of Europe, plans to intensify its activities and investments in Turkey after such date. (more…)

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Corruption seeps into natural gas

Posted by meb at February 22nd, 2008

The energy minister delayed a raid on the state-owned pipeline company BOTAŞ’s offices and forced the retirement of officials involved in a corruption case involving the company’s officials in the tender for the scheduled building of a natural gas depot under the Salt Lake in central Anatolia, according to an indictment prepared by an Ankara prosecutor.

Prosecutor Mehmet Tamöz briefed Energy Minister Hilmi Güler on the matter and was asked to delay the operation, the indictment said. The minister suspended all BOTAŞ officials involved and forced some to resign. (more…)

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Automotive sector offers competitive promotions

Posted by meb at February 21st, 2008

January was a bumper month for the Turkish automotive sector, with sales over the same period last year up by 34.6 percent, but the sector seems intent on taking this rise even further.

Following a successful bout of end-of-year promotions, companies in the sector are maintaining the momentum with new promotions well into 2008. In addition to high rebates, the carmakers are offering also various financing alternatives to prospective customers. (more…)

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Norway has no plans to import Turkish labour

Posted by meb at February 19th, 2008

Norway may have a labour shortage, but a government minister rejects reports that the country intends to import 100,000 workers from Turkey to address it.

Bjarne Håkon Hanssen was in Turkey last week and claims a misunderstanidng must have led to inaccurate press reports in Ankara and elsewhere across the country that Norway would loosen its immigration restrictions, to recruit and import 100,000 skilled Turkish workers. (more…)

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Turkish Competition Board approves purchase of Godiva by Ulker

Posted by meb at February 18th, 2008

Turkish Competition Board approved purchase of world chocolatier giant Godiva by Turkey’s Ulker.

Board members convened on Thursday and approved Ulker’s application regarding the purchase within the scope of the law on “mergers and acquisitions”. (more…)

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Koc Holding sells Migros to Moonlight Capital

Posted by meb at February 14th, 2008

Turkey’s Koc Holding said Thursday that it agreed with Moonlight Capital S.A. to sell 50.8 percent of Migros retail chain for 1.9 billion YTL.

Koc Holding announced the sale in a statement sent to Istanbul Stock Exchange (IMKB). (more…)

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Private banks rush to attract deposits from public institutions

Posted by meb at February 13th, 2008

Competition among private banks in Turkey has been heating up as they scramble to secure public deposits by offering perks to public institutions.
Since private banks will be allowed to serve as public treasurers at the end of the year, bank executives have started paying visits to bureaucrats to persuade them to move their funds. Private banks are engaging in aggressive promotions in order to secure public deposits as well as courting top level executives of the State Economic Enterprises (KİT), autonomous institutions, higher boards and hospitals. (more…)

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Soil-less agriculture helps save planet

Posted by meb at February 11th, 2008

With global warming becoming a bigger threat with every passing day, organic farming methods are becoming more popular. Among them, soil-less agriculture is an alternative method that is likely to contribute to protecting the future of the planet.

Called hydroponics, this system is also helpful in the prevention of soil damage, the growth of natural vegetables free of pesticides and increased productivity. (more…)

Posted in Sectoral Reports, Uncategorized| No Comments | 

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