Dear Reader, Turkey is booming. Its economy is growing fast and there are opportunities in nearly every sector. Yet, many foreign entrepreneurs are hesitant in taking the step of extending their business to Turkey. Unfamiliarity with Turkey’s language, its business culture and legislation keep many entrepreneurs from setting up a profitable business in Turkey or from entering into a fruitful collaboration w ...

The Iraq Infrastructure & Construction Summit will take place 22-23 May in Dubai, just after the Iraq local elections With less than a month to go, the Iraq Infrastructure & Construction Summit hosted by global summit organiser, IRN will take place 22-23 May at the Jumeirah Beach Hotel in Dubai. Supported by the Deputy Prime Ministers Office, Ministry of Transportation, Ministry of Construction and ...

The Turkish retail sector, which recorded $302 billion in 2011, is expected to reach $421 billion in 2015. Internet retail portals are becoming a new favorite among Turkish internet users and shoppers, according to a Deloitte Turkey report. Turkey’s retail sector, which exceeded $302 billion in 2011, is expected to reach $421 billion in 2015, according to the “Retail Sector Analysis” report published yester ...

Turkey, needless to say is one of the most beautiful holiday spots across Mediterranean (and Aegean) with so much to offer.. Tourism and accommodation sector has taken giant steps to meet the needs of all kinds of holiday makers with various income levels and taste. However, the alternative of saving much money and being relatively independent by staying in a privately rented villa at splendid locations has ...

Mexico to open Istanbul trade office to boost business volume The Mexican government's trade and investment promotion agency has decided to open up an office in Istanbul to promote business activity between Turkey and Mexico. Enrique Haro, the chief of staff at ProMéxico (Mexican Trade and Investment Agency), told Today's Zaman on Tuesday that the board of directors of ProMéxico had last week approved to ad ...

Indian automotive company ASHOK LEYLAND has joined forces with Turkish company UTIKAR for production of a new range of inter-city and intra-city buses for the Middle East, North Africa and CIS markets. Mr. P.G. Nillson, Executive Director, International Operations, of the company which showcased at Busworld Turkey 2012 commented that he was delighted with the company’s global expansion drive. Mr. Nillson al ...

Tüpraş net profits drop 6 pct to 288 mln liras Oil refiner Tüpraş posts a drop in quarterly profits, but an increase in sales. DHA photoTurkey’s largest oil refiner Tüpraş posted yesterday a first quarter loss in net profits from 306 million Turkish Liras to 288 million liras. The company’s sales, however, were up seven percent in the same period, up to 5.3 million tons from 4.9 million tons in the first qu ...

Dubai Sheik Al Maktoum is selling his financial assets in Turkey including Taib Bank and Dubai Insurance. AP photoDubai Sheik Mohammed bin Rashid al-Maktoum is selling his financial assets in Turkey, which include Taib Investment Bank and Dubai Insurance in order to concentrate on growth in the tourism sector, according to daily Vatan. An anonymous investment banker claims that al-Maktoum wants to sell the ...

The United States and Turkey have for six decades enjoyed a close political and military relationship. However, our economic and business partnership has lagged behind until recently. During President Barack Obama’s 2009 trip to Turkey, he and Turkish President Abdullah Gul agreed to advance our commercial partnership to the level of our diplomatic and strategic defense relationship. According to U.S. Secre ...

With the announcement of the new incentives system, U.S. firms Pepsi, General Electric, 3M, Kimberly-Clark and Quest Diagnostics have all decided to invest in Turkey. VISITING THE WORLD'S TWO LARGEST ECONOMIES After his recent trip to China, Turkey's Minister of Economy Zafer Çağlayan has now begun his schedule of meetings in the United States. Çağlayan met with a number of administrators from leading Ameri ...

Turkish entrepreneurs, business people and workers have taken their parts in all zones of the world. They have made investments worth billions of dollars and created employment opportunities as well. Mostly, these people have been successful and contribute to the economies  of the countries they have settled in. South Africa is certainly one of such destinations and it is known that many Turkish businessmen ...

Doğan Online (part of giant Doğan  group in Turkey) has started a new inititative and organized a conference to host everybody involved in online sector somehow; internet users, organizations in the sector, opinion leaders, think tanks, creators, investors, entrepreneurs etc. The group has realized this event under the slogan "Meet The Online Generation:Generation Do it Onliners, GDOL" GDOL Digital TalkFest ...

Turkey has been receiving more and more FDI every consecutive year, inspite of the global crisis which has hit some countries like Greece real hard. In fact, it is the most profitable country for Alliance Boots's global organization. It ranks second in terms of turnover... Novartis Türkiye ranks tenth of all the Novartis operations. In 2011 it was eleventh. JTI Türkiye, which had ranked ninth in terms of gl ...

KAVAKLIDERE Winery, the first private sector wine producer in Turkey was founded by Mr. Cenap And in Ankara in 1929. The company has enjoyed a consistent growth to become Turkey’s leading wine producer. Kavaklıdere owns 562 hectares of vineyards in the most important wine-producing area of Anatolia, where professional growers strive to maintain the perfect grapes-soil-climate equation so as to increase the ...

Macedonian PM expects new investments from Turkish businessmen Turkey-Macedonia Trade Investment Forum was organized by the Confederation of Businessmen and Industrialists of Turkey (TUSKON) in Bursa yesterday. Speaking at the forum, Macedonian Prime Minister Nikola Gruevski said that Macedonia offered incredible investment opportunities to Turkish businessmen. "We apply tax rates of 2 percent. Besides, we ...

CEO finder opens branch in Istanbul Spencer Stuart, a global executive search consultation company, has opened an Istanbul office led by Turkish citizen Kaan Okurer, according to a press release. Founded in 1956, the privately-owned Spencer Stuart advises companies on their senior leadership needs. The company operates 53 offices in 29 countries. Last year it conducted more than 4,000 assignments around the ...

President Abdullah Gül flew to the United Arab Emirates yesterday along with more than 100 business people. It was the first visit to the Emirates by a Turkish head of state in 15 years, with trade and economic cooperation topping his agenda. In remarks to reporters before his departure, Gül said there was “great potential” for stronger economic ties, emphasizing that the bilateral trade volume reached near ...

Merger and acquisition (M&A) deals to take place in Turkey this year are expected to reach USD 20 billion in volume. Following 2011’s success, which saw USD 11.1 billion of foreign investments channeling into Turkish companies in M&A deals, the new year will see heightened activity and more foreign investments thanks to Turkish SMEs increasing appeal and the country’s ongoing power plant and distrib ...

After making a mark in December, investments in the chemical industry in Turkey appear to be extending into the New Year. Following announcements of investments by both Dow and Aditya, another mega firm, the USA’s Huntsman has purchased EMA Kimya. One of the most in demand sectors in Turkey by foreigners, the chemical industry, has seen move after move made by mega global firms over the past month. Now, fou ...

Transport Minister granted “extraordinary privileges” to IDO, the company running high speed ferries in Istanbul and neighboring cities and purchased by TAV, a Turkish daily newspaper claimed Dec. 6. Both the ministry and TAV have denied the claims. “Privatized for $800 million last April, Turkey’s Transportation Minister Binali Yıldırım issued a circular granting privileges to IDO,” said Yeni Şafak, a Turk ...

After the Arab Spring, Turkish firms are taking on a leading role in the region’s new restructuring. While businessmen traffic with North Africa increases, Western firms have been pushed to the background. Interest is increasing in Turkish firms for the newly restructuring of countries which experienced the Arab Spring. With forums and meetings held one after the other, Turkish firms are participating much ...

You are a foreigner (a business person) visiting Istanbul on a business trip.. You have the weekend off before (or after) a meeting and would like to make the best out of it.. But, Istanbul is such a giant and complicated city you need to have advice what to do, where to go etc.. Well here we are to guide you - besides many other sources on the net, certainly .. First, it would be best to have a quick look ...

Turkey’s rapid economic growth admired and praised by the country’s private sector has not been reflected in the minimum wage yet, according to representatives of the Turkey’s leading labor unions demanding an increase of the wage to 1,000 Turkish Liras. “Turkey’s economic growth has not been reflected in the minimum wage,” Serkan Öngel, director of Research at the Confederation of Revolutionary Trade Union ...