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Category Archives: Turkey News

Microsoft awards Turkish office top subsidiary status

Istanbul, 24 July 2012 - Microsoft has awarded its Turkish office “Subsidiary of the Year in Emerging Large Category” for the  second time in the last three years. Speaking at Microsoft’s award ceremony in Atlanta, Steve Ballmer, Microsoft’s CEO, said “Microsoft Turkey successfully meets the demands of Turkey’s dynamic and...

Posted on 02 August 2012

US private equity firm buys stake in Turkish menswear maker

Istanbul, 20 July 2012 - Investcorp, the New York based private equity company, has signed an agreement to buy a minority stake in the Orka Group, a leading Turkish menswear maker. Founded in 1986 the Orka Group is known in Turkey for its men’s fashion brands Tween, Damat and DS...

Posted on 24 July 2012

Spanish recycler to invest USD 120 million in Turkey

Istanbul, 19 July 2012 – Befesa, a leading Spanish industrial waste recycler, has announced plans to will invest 120 million USD in two steel dust processing plants in Turkey with a potential additional investment of 180 million USD. Announcing the investmentZafer Caglayan,Turkey’s Minister of Economy, said “These investment projects carry...

Posted on 24 July 2012

Leading Japanese bank to apply for banking license in Turkey

Istanbul, 18 July 2012 - Bank of Tokyo - Mitsubishi UFJ, Japan’s largest bank, has announced its intention to apply for a banking license in Turkey to assist Japanese companies with finance allowing them to take part in Turkey’s large scale investment projects. The bank will file an application with a...

Posted on 24 July 2012

Turkish Airlines again voted ‘Best Airline in Europe’

Istanbul, 17 July 2012 - Turkish Airlines has gained “Best Airline inEurope” award for the second year in a row. The award given by Skytrax also gave Turkish Airlines the "Best Airline inSouthern Europe" and the "Best Premium Economy Class Airline Seat".  Speaking at the UK’s Farnborough International Airshow, Mr...

Posted on 24 July 2012

Turkey attracts 6.5 billion USD of foreign investment in first 5 months of 2012

Istanbul, 16 July 2012 – Mr Zafer Caglayan, Turkey’s Minister of Economy, has announced that Turkey attracted 6.5 billion USD of Foreign Direct Investment (FDI) in first 5 months of 2012 showing an increase of 11 percent over the same period in 2011. According to Caglayan, Turkey is attracting the...

Posted on 24 July 2012

Dubai’s largest real estate company to invest again

Istanbul, 13 July 2012 - Emaar, Dubai’s biggest real-estate company, has purchased 430 million USD of land in the Camlica district of Istanbul. This is Emaar’s second major investment in Turkey. The company is to build a 145,000 m2 shopping mall and business centre together with 1,000 houses. The complex...

Posted on 20 July 2012

Lebanese Bank to double its Turkish investment

Istanbul, 12 July 2012 - Odea Bank, part of the Lebanese Bank Audi, is set to increase its capital from 300 million USD to 600 million USD according to Huseyin Ozkaya, Odea’s General Manager. Commenting on the increase Ozkaya said  “We are going through a very serious test phase. We...

Posted on 20 July 2012

US cosmetics manufacturer eyeing up Turkey

Istanbul, 11 July 2012 – The Farouk Shami Group, the US cosmetics company, is eyeing up the Turkish market. Group Chairman Farouk Shami said “We would like to invest in Turkey. It might take place anywhere in Turkey, particularly Istanbul. We aim at pushing the button as soon as possible...

Posted on 20 July 2012

France’s Alstom interested in Turkey’s new high-speed train programme

Istanbul, 10 July 2012 -France’s Alstom Transport is keeping a close eye onTurkey’s new high speed train projects. Arda Inanc, General Manager of Alstom Transport in Turkey, said “Alstom Transport Turkey is working for sustainable growth. The number of our employees in Turkey hit 1,200, while we posted 407 million...

Posted on 20 July 2012