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Category Archives: Turkey News

Japanese air conditioning company invests 260 million USD in Turkey

17 October 2011, Turkey - Following the acquisition of Turkey’s Airfel, Daikin, a leading Japanese air conditioning manufacture, has announced it will be using Turkey as a regional centre for development and manufacture serving markets in Europe, the Middle East and Africa. Daikin paid 260 million USD for Turkey’s Airfel,...

Posted on 17 October 2011

Turkey’s tax incentives for new technoparks

14 October 2011,  Istanbul - Speaking at IBM’s Software Summit in Istanbul, Nihat Ergun, Turkey’s Minister of Industry, Science and Technology, described Turkey’s “Silicon Valley” vision. Turkey is to build technoparks which will be exclusively for high tech companies engaged in telecoms, software development, ecosystems and technical R&D, the first...

Posted on 14 October 2011

Intel invests in Turkish internet company

12 October 2011, Turkey - Chip maker Intel, through its investment  arm Intel Capital, has invested an undisclosed amount in Grupanya a Turkish e-commerce company. This is Intel Capital’s second investment in Turkey. According to Burak Aydin, Intel Turkey General Manager the investment will help Grupanya to develop is new...

Posted on 12 October 2011

Turkey’s M&A increases

6 October 2011, Ankara - Turkey is having its best M&A period since 2008 as Turkey’s economy continues to outperform the rest of Europe and the emerging BRIC countries. Whilst M&A deals in the BRIC’s Brazil, India and China dropped, with only Russia showing any M&A growth, Turkey’s transaction value...

Posted on 06 October 2011

A strong wind blowing through Turkey

5 October 2011, Turkey - As part of Turkey’s plan to reduced imported energy supplies running up to Turkey’s centennial in 2023 it has been announced that Turkey’s first locally developed and manufactured wind turbine should come on stream by late 2012. The Turkish manufactured wind turbine has been developed...

Posted on 05 October 2011

Turkey goes green with 600 hydropower plants under construction

3 October 2011, Turkey - According to Turkey’s EMRA (Energy Market Regulatory Authority) there are nearly 600 new hydroelectric power plants due to come on stream, most are already in the construction phase. In addition EMRA has granted 116 new licenses in 2011 (To 31 August) and the number of...

Posted on 03 October 2011

Istanbul’s gas supplier to go private

30 September 2011, Turkey - “IGDAS is the next company to be put to tender by IBB” said Adem Basturk, the Secretary General of IBB (Istanbul Metropolitan Municipality) about IGDAS (Istanbul Natural Gas Distribution Company) in a recent statement. IGDAS is expected to be privatised in 2012. IGDAS serves 4...

Posted on 30 September 2011

Chinese electricity company invests in Turkey

29 September 2011, Turkey - Zhejiang Energy Group, China’s state owned electric power construction holding company, has signed an agreement with Turkey’s Polat Madencilik to develop a coal mining field in Aydin in western Turkey and a coal fired power plant creating 5,000 jobs. The first stage of the agreement...

Posted on 29 September 2011

Swiss chocolate manufacturer increases Turkish investment & production

28 September 2011, Turkey - Nestle, the Swiss based chocolate manufacturer intends to increase its business in the low cost sweet and chocolate market in Turkey according to Devrim Cobek, Nestle’s Business Executive Manager of Nestlé Turkey’s Confectionery Business Unit. Nestle purchased a 51% share in Turkey’s Balaban Gida company...

Posted on 28 September 2011

Turkey tops G20 for job creation over last 3 years

27 September 2011, Turkey – According to a recent ILO (International labour Organisation) report over the last 3 years Turkey sits on top of the G20 list for job creation ( Q1 2008 to Q1 2011). The report, produced in conjunction with OECD (Organisation for Economic Co-operation and Development), reported...

Posted on 27 September 2011