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Tag Archives: Spot Blue

International credit agency praises Turkey’s new incentive scheme

Istanbul, 25 May 2012 - Fitch Ratings, the international credit rating agency, has praised Turkey’s newly announced investment incentive scheme aimed at reducing Turkey’s dependency on imports therefore reducing Turkey's international financial support. According to Fitch “It will focus mainly on sectors like energy, mining, the automotive industry and tourism,...

Posted on 22 June 2012

Turkish bus maker in deal with Indian company

Istanbul, 23 May 2012 - India's Hinduja Group commercial vehicle maker subsidiary Ashok Leyland has enter an agreement with the Turkish Utikar bus making company to manufacturer the upper chassis parts for a new intra and inter city bus for the MENA and European markets. Source: Invest inTurkey  

Posted on 22 June 2012

Japan’s giant Sumitomo to invest in Turkey

Istanbul, 22 May 2012 - Japanese conglomerate Sumitomo has announce a new Turkish joint venture under the name of "Sumisertmetal". The company has set aside an initial budget of 20 million USD to establish its sales network of industrial cutters and drills according to Sumisertmetal CEO, Edip Bayizitlioglu with plans...

Posted on 28 May 2012

Hyundai plans new investment in Turkey

Istanbul, 21 May 2012 - Hyundai Turkey has rolled its new i20 SuperMini from its Izmit factory in western Turkey. South Korea’s leading car maker has also announced an investment of 600 million USD to double its production from 100,000 to 200,000 vehicles per year in Turkey. The new investment...

Posted on 28 May 2012

Germany’s Bosch is to increase investments in Turkey

Istanbul, 17 May 2012 - Turkey’s economic performance has meant that Bosch Turkey has increased its workforce by some 1,200 workers and increased company’s sales by 17 percent to 2 billion Euros. Bosch Turkey now plans to invest another 300 million Euros in addition to the 500 million Euros the...

Posted on 28 May 2012

USA’s General Electric attracted by new incentives in Turkey

Istanbul, 16 May 2012 - USA's giant conglomerate General Electric is seeking to take advantage of Turkey’s new business incentive packages with a range of different investments within its portfolio. At a recent meeting between Turkey’s Minister of Science, Nihat Ergun and Kursat Ozkan, GE’s Turkish and Middle East &...

Posted on 28 May 2012

Toyota to start new car production in Turkey

Istanbul, 15 May 2012 - Toyota is planning to start manufacture of its new C segment saloon car in 2013 which is intended to replace its popular Corolla model currently being made at its Adapazari factory in north west Turkey. Speaking recently, Ali Haydar Bozkurt, Toyota Turkey CEO, said “We...

Posted on 28 May 2012

Turkey’s industrial production up 2.4 percent

Istanbul, 14th May 2012 - Recently released data from the Turkish Statistical Institute shows industrial production increased by 2.4 percent in March 2012 compared with March 2011. The increase beat the forecasts by 0.2 percent. Electricity, gas, steam and air conditioning supply index increased by 7.9 percent, the mining sector...

Posted on 24 May 2012

Foreign company investments up by 74 percent

Istanbul, 11th May 2012 - According to Ms Umit Boyner, Chairperson of the Turkish Industry and Business Association, foreign companies were responsible for 74% of the total of 241 mergers and acquisition in Turkey representing 15 billion USD. Speaking at the Turkish Industry and Business Association seminar Boyner pointed out...

Posted on 24 May 2012

UAE hotel group to manage Turkish hotel

Istanbul, 10th May 2012 - Thanks to the continuing relaxation of visa requirements for citizens of the Arab countries, Turkey is expecting a large increase in tourists from those countries. UAE based Rotana Hotels has recently signed an agreement with Turkey’s Rhossos Tourism to manage its 300 bed hotel aimed...

Posted on 24 May 2012