Ballroom International Network acquires the biggest independent Digital Media Sales Group in Turkey, founded by Orkun Tekin. By this acquisition, it is going to be the largest independent digital, technological and advertising network in Central and Eastern Europe and Turkey. •Ballroom is acquiring 100% of 3 companies, Reklamz A.S, Linkz A.S, SEM A.S. Having over 70 associated employees, The Group Companies ...

As Turkey’s megacity turns into an international finance center, property investors from the East and the West are flocking to the office and housing projects in Istanbul’s Atasehir district, heart of the Istanbul Finance Center (IFC). The office and shopping center complexes in Atasehir arouse interest among Europe-based investors while Middle Easterners are generally after housing projects in the area, ac ...

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 ...

Turkey lacks staff and fund for regional role Turkey may have significantly boosted its profile in the Middle East over the past decade, but it still has a gap to close between its expectations and capabilities to become a ‘regional power,’ a recent study says Over the past decade Turkey may have significantly boosted its profile in the Middle East, but it still has a large gap to close between its expectat ...

Ford has joined forces with Dow to produce a new generation vehicle, which they intend to lighten by 350 kilos. The composite that Ford and Dow engineers intend to use in their new designs will be produced by Turkey’s Aksa. With the decreasing petroleum reserves, coupled by the ripple in the metal industry's prices, the automotive industry is pushing their administrators to come up with innovative ideas. Wh ...

"Recently, Turkey has experienced a ten percent growth in tourism, becoming the world’s top seventh nation for tourism.” Minister of Culture and Tourism Ertuğrul Günay released a message on April 15th in honor of Tourism Week in which he stated that the ministry has developed a number of new and transparent methods in order to raise the nation to become one of the leading countries in the world for tourism. ...

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 ...

Turkey will host the Middle East Tourism Exhibition (METEX) this year, hoping to double the number of Arab tourists visiting the country to four million and promote alternative trends in the industry such as health and shopping tourism. At least 300 professionals from more than 30 countries are expected to convene in Ankara on May 25- 27 for the event. The exhibition will feature both local and internationa ...

US companies introduced to Turkish incentive scheme Turkey’s new investment incentive scheme is the world’s greatest system, and will hopefully lead to an international investment boom, Economy Minister Zafer Çağlayan said yesterday at a New York meeting of the River Club. Çağlayan was explaining the new scheme to the Chief Executive Officers (CEOs) of several large American firms. On the train ride to Wash ...

Gunay suggests a new pattern for Mediterranean tourism Culture and Tourism Minister Ertugrul Gunay yesterday attended the 6th International Conference on Destination Management which was organized by the World Tourism Organization (UNWTO) in Tunisia's Djerba Island. Speaking to reporters following the conference, Gunay suggested a new pattern for the Mediterranean tourism. "Europe is of course an important ...

US automaker Ford’s Turkish unit Ford Otosan, a JV between Turkey’s Koc Group and Ford Motor Company, is building its third vehicle manufacturing plant in Turkey which will considerably increase its production capacity as it aspires to raise its exports to the US market. The new plant under construction in Golcuk, Kocaeli, adjacent to the existing facility, will churn out 110,000 vehicles per year once oper ...

OECD: Turkey gives a helping hand worldwide According to the OECD data, Turkey increased its official development figures by 38.2 percent, at a time when developed countries are implementing austerity measures to prevent the global crisis from worsening and decreasing their international development aids. A report prepared by OECD indicates that international development aids fell by 2.8 percent to decrease ...

Speaking at the unveiling of the Turkish Industry and Business Association (TUSIAD) and US Chamber of Commerce report "Turkish-American relations in the new era: an analysis and recommendations for a stronger strategic partnership," prepared by Washington D.C.-based Sidar Global Advisors, President Umit Boyner said yesterday that Turkey and the US need to increase their joint investments in such areas as en ...

The sanctions issued by the United States and Europe on Iran have resulted in transforming the public into introverts. Iran, which used to send 1.8 million tourists to Turkey a year, making them the fourth country with the highest number of tourists that travelled to our nation is now suffering a serious drop in currency value in comparison to the dollar. Due to the political instability, the riyal has deva ...

Doğan Holding, one of the largest business (media and other) groups in Turkey held a press meeting in Istanbul to share the group's vision with journalist. Doğan Holding’s total consolidated revenues increased by 14 percent year on year in 2011 to 2.8 billion Turkish Liras, the group announced yesterday. The holding made a total of 757 million liras of net loss in 2011 mainly due to a now-settled tax confli ...

The Cooperation Council of Turkic Speaking States (CCTS), which was established in 2009 with the overarching aim of promoting cooperation among Turkic speaking states, has sought more concrete steps to strengthen collaboration and solidarity between Turkic states. The CCTS was established as result of the Nakhchivan Agreement, which was signed between Turkey, Azerbaijan, Kazakhstan and Kyrgyzstan in Azerbai ...

Turkey is hosting many significant and prominent trade shows in 2012 as the country has been a true spot of attraction for international business people recently, in terms of industry, trade and tourism in particular. Companies such as TUYAP and CNR EXPO have been organizing some very important fairs with great success. EMITT Tourism Fair is among the most successful ones held every year, for instance. A no ...

Turkey’s industrial production index climbed 4.4 percent in February, figures show. Some analysts call it a sign of soft landing, while others draw attention to the role of base effect. The energy, chemical and textile sectors posted strong performance, professionals note. The data is proof of stability, according to the industry minister An unidentified employee is seen working at a chemical dye plant in t ...

Turkey’s Capital Markets Board (SPK) has released its 2011 annual report. Accordingly, the size of the capital markets is roughly 381 billion Turkish Liras. Of the audits, 32.6 percent were public companies, 25.7 percent were brokerages and 16 percent were cheaters. Public companies were audited mostly for camouflaging their earnings. The Head of the Capital Markets Board Vedat Akgiray said that in the rece ...

The world has to prepare for the future of the digital world and how to interact with the already-emergent online generation, according to participants meeting at a digital conference yesterday. “The power of the digital nation was functional yesterday; tomorrow it will be cultural. Technology has changed the balance of forces empowering the individual,” Doğan Online Founder and Chairwoman Hanzade Doğan Boy ...

In paralel to the positive development in industry and GDP in the country in recent years, Turkey has started to become more and more a paradise for service industry. In fact, new investments made in service sectors such as retailing, air transportation, finance, health, tourism and education have been succesful initiatives to provide good examples for more entrepreneurs to grow interest in said sector. It ...

Military companies which are a burden on the shoulder of the defense industry, one of the sectors to benefit from the incentive package announced by the government last week, will be eliminated over time despite resistance from the Turkish Armed Forces (TSK) and there are plans to make Turkish Aerospace Industries' (TAI) go public to  professionalize the institution. Military companies will either be abolis ...

The 15th Eurasian Economic Summit will take place in Istanbul and Aegean province of Izmir with participation of 50 countries. The Marmara Group Foundation will organize the summit in Istanbul and Izmir between April 10 and 12. Politicians, diplomats, economy bureaucrats and representatives of business world from 50 countries will attend the summit. Among the participants will be Albania's President Bamir T ...