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Istanbul ranks in top 5 in a global tourism survey

Istanbul, 15 June 2012 - MasterCard, the global credit card company, has ranked Istanbul among the global top five tourist centres in its Index of Global Destination Cities 2012. According to Yuwa Hedrick Wong, one of MasterCard Worldwide economic advisers, “Istanbul is a unique city with a lot of potential....

Posted on 26 June 2012

General Electric to invest 900 million USD in Turkey

Istanbul, 14 June 2012 - General Electric, the US energy, healthcare and infrastructure giant has announced a 900 million USD investment inTurkey. According to John Rice, General Electric’s Vice Chairman, “GE’s planned investments inTurkeybenefit from the opportunities offered by the rapidly growing economy and aligns well with the country’s 2023...

Posted on 26 June 2012

German auto component manufacturer opens new plant in Turkey

Istanbul, 13 June 2012 - Benteler International, the German automotive, steel and distribution company, has opened its new plant inTurkey. Speaking at the opening Benteler’s CEO, Hubertus Benteler, said “Turkey has a well-trained and motivated labour pool. As of July 1, personnel in Gebze plant will consist only of Turkish...

Posted on 26 June 2012

Azerbaijan’s state oil company to invest 10 billion USD in Turkey

Istanbul, 12 June 2012 - Over the next eight years Azerbaijan's state oil company, SOCAR, intends to invest 10 billion USD in Turkey according to Suleyman Gasimov, the company’s Vice President. This amount excludes the new Trans - Anatolian Pipeline Project. SOCAR is already building a 5 billion USD refinery...

Posted on 26 June 2012

Turkey’s regional centre for Germany’s Bosch, Siemens

Istanbul, 11 June 2012 - At a recent press conference Norbert Klein, Chairman of Bosch Siemens (BSH), the German white goods and home appliances manufacturer, announced that its Turkish office is now running the company’s MENA, Central Asian and Near Eastern markets. Klein said “BSH’s notable success in the Turkish...

Posted on 26 June 2012

Russian bank buys into growing Turkish banking market

Istanbul, 8 June 2012 - Sberbank, the Russian state owned bank has signed the preliminary agreement to buy Denizbank which is part of the French Belgian owned Dexia Bank. The transaction is due to be completed by the end of 2012 and the purchase price is approximately 3.6 billion USD....

Posted on 26 June 2012

US manufacturer buys Turkish hose manufacturer

Istanbul, 7 June 2012 - Eaton Hydraulics Group, the US diversified power management company, has announced plans for the acquisition of Polimer Kaucuk the Turkish manufacturer of hydraulic and industrial hoses used in the construction, mining, agriculture, oil/gas sectors. Announcing the acquisition William VanArsdale, President of Eaton said, “Turkey’s economic...

Posted on 26 June 2012

Unilever breaks ground on its new plant in Turkey

Istanbul, 6 June 2012 - Unilever started construction of its new 100 million USD factory in Konya in Turkey’s Central Anatolia Region. The factory will be used for the production of Unilever’s Turkish ice cream brand “Algida” for its domestic and MENA region dales. This is Algida’s second Turkish plant...

Posted on 22 June 2012

Turkish solar energy projects on the grid

Istanbul, 2 June 2012 - With foreign and domestic investors are already queuing up for the rights to produce solar energy, Turkey’s Energy Market Regulatory Authority has announced that between 10th to 14th June 2013 it will accept license applications to produce electricity from solar energy. “The potential investors in...

Posted on 22 June 2012

Turkey’s exports up 10.3 percent in 2012

Istanbul, 1 June 2012 - According to the Turkish Exporters Assembly,Turkey’s exports reached 11.8 billion USD in May 2012 up 7.3 percent from the same period in 2011.Turkeyexported 59.8 billion USD worth of goods to foreign buyers in the first five months of 2012, representing a 10.3 percent increase over...

Posted on 22 June 2012