Turkey’s economic confidence rebounds in February

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Confidence in Turkey’s economy rebounded in February after a two-month dip, the Turkish Statistical Institute (TÜİK) reported on Feb. 27. The Economic Confidence Index surged 6.8 percent to 91.5 in February compared to last month, TÜİK said in a statement. This increase in the economic confidence index stemmed from the increases in services, the real sector, construction, and retail trade ...

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P&G embarks on investment in Turkey’s Gebze

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The U.S.-based Procter and Gamble (P&G) has made its 250 million-Turkish lira ($70 million) investment in the northwestern province of Kocaeli’s Gebze district online and signaled new investments. The fresh investment in Gebze aims at increasing local production in baby and women outputs and thus enhancing diversification in export markets, according to top representatives from the company. “We will increase ...

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Turkey’s SWF to focus on securitization

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The first act of business by the Turkish Sovereign Wealth Fund (SWF) will be the issuance of securities, while it will also focus on Islamic finance products in securitization, the size which will be decided separately after a valuation of transferred assets. The fund will contact local and foreign investors for securitization over the next few months. The size of ...

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TÜSİAD new board members meet PM Yıldırım

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New board members of the Turkish Industry and Business Association (TÜSİAD) met Prime Minister Binali Yıldırım. At the meeting, a number of key topics were discussed, including the current economic and investment climate, relations with the European Union, the Customs Union deal, the participation of women in the labor force, the Industry 4.0, digital transformation, youth and educational issues, a ...

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Henkel wants to expand production in Turkey

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 Henkel has initiated consultations with a view to producing three brands the company acquired last year in Turkey, according to Henkel Turkey Chair Hasan Alemdar. He also stated that Henkel wants to utilize Turkey’s location as a hub for production. Henkel purchased Turkey’s first shampoo brand Blendax and strengthened its hair care product portfolio before going on to purchase “Pert” ...

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Turkish banking sector supports real economy, not deposits money

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The chairman of the Banks Association of Turkey (TBB) and Ziraat Bank General Manager Hüseyin Aydın evaluated the country’s economy and its banking sector at the TBB Board Members meeting. Referring to President Recep Tayyip Erdoğan’s call on banks to avoid keeping money in the bank and sitting on it, Aydın said criticism of this issue addressed the general practice. ...

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Turkish businessmen seek boost in trade relations with Bahrain

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Turkish businessmen desire to boost trade between Turkey and Bahrain, chairman of the Turkey-Bahrain Business Council said. “We plan to visit Bahrain at the end of this month or early April. Our goal is to improve warm relations between the two countries, which will hopefully lead to an increase in mutual trade volume,” Muhammet Uğurcan Barman said at a Council ...

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Antalya dives into tourist season with new submarine attraction

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Antalya Governor Münir Karaloğlu made a trial dive with the new touristic submarine “Nemo Primero” in Antalya. During its inaugural dive, the submarine went 20 meters under the sea near “Rat Island” off the shore of the Turkish Mediterranean city of Antalya. Governor Karaloğlu along with his wife Sevim and his daughters Elif Meva and Meral Su participated in the ...

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8 million foreign tourists expected to visit Antalya this year

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The head of the Professional Hotel Management Association (POYD) headquartered in Antalya revealed that an expected 8 million foreign tourists will visit Antalya this year. “We expect around 7.5 to 8 million foreign tourists to visit Antalya this year, which will represent a 30 percent increase compared to 2016,” Hakan Duran told Anadolu Agency. Duran also said that early booking ...

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Turkey’s first national air traffic control simulator enters into service

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The first national air traffic control simulator developed with local resources went into service after getting successfully installed in a Turkish airport’s training and simulator facilities says the Scientific and Technological Research Council of Turkey (TUBITAK). TUBITAK said in a written statement that the first national air traffic control simulator system (atcTRsim) has several simulators such as approach, area control ...

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