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Aras Marine combines forces with YEO for floating offshore SPP projects

Aras Marine combines forces with YEO for floating offshore SPP projects

Aras Marine and YEO established the joint venture Marinergy for floating offshore solar power plant (SPP) projects, which develop as a new sustainable and eco-friendly energy generation method across the world.   Aras Marine and YEO have taken action due to the existing potential and lack in the market. Both companies will operate through their...

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Policy change is a clear credit positive: Moody’s

Policy change is a clear credit positive: Moody’s

Strengthening of TRY and changes in monetary policies enabling capital inflows are positive factors in terms of Turkey’s credit rating, according to the international credit rating agency Moody’s. “The change in monetary policy since November is a clear credit positive, leading to a stronger currency, renewed capital inflows and decline in foreign exchange rates,” Moody’s...

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Turkish economy grew by 1.8% in 2020

Turkish economy grew by 1.8% in 2020

Turkey was one of the few countries that grew in 2020 with a growth rate of 1.8%, becoming the third-fastest growing country after China and Taiwan. According to the data by TurkStat, in the last quarter of 2020, the growth underperformed expectations with only 5.9%. This was caused by the contraction of the construction sector...

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E-Garaj provides special services to Tesla

E-Garaj provides special services to Tesla

E-Garaj, the first company to offer maintenance and technical support to electric cars, is Tesla’s special service provider in Turkey and deals with all of its software issues, according to E-Garaj co-founder, Emir Tuncyurek. Customers are coming from nearby countries for Tesla services. The company started operations in 2018 and offers services to electric cars...

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Aydem Yenilenebilir receives the ‘Zero Waste’ certificate for 8 HPPs

Aydem Yenilenebilir receives the ‘Zero Waste’ certificate for 8 HPPs

Aydem Yenilenebilir Enerji AS, the subsidiary of Aydem Enerji operating in the renewable energy industry, received a zero-waste certificate for 8 hydroelectric power plants (HPPs) operating within the scope of the company. In line with the sustainability policies, 5 HPPs in Adiguzel creek in Denizli, the Kemer creek in Aydin, the Akinci creek in Tokat...

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Gural Seramik’s new facility to be operational soon

Gural Seramik’s new facility to be operational soon

Gural Sirketler Grubu reached the last phase of its new investment. The new facility to manufacture ceramics has been established in the Kutahya 1st Organized Industrial Zone on an area of 140,000 square meters. The production plant will start manufacturing this year, according to Ismet Gural, Chairman of the Board of Directors of Gural Sirketler...

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Insurance market runs to TRY 100bn

Insurance market runs to TRY 100bn

Turkey’s insurance market grew by 19.3% in 2020 to TRY 82.6bn. Seen as the 9th with the highest potential in the world, the market is expected to reach TRY 100bn this year. Altinc Yilmaz, Howden Turkey Middle East and Africa Regional CEO, evaluated the Turkish and global insurance market. “Insurance companies’ total payments last year...

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Sepiciler establishes e-commerce company in the U.S.

Sepiciler establishes e-commerce company in the U.S.

BY NIHAT DELIBASI With a history of over 100 years in the leather industry, Sepiciler has started sales on the world’s leading online shopping sites. The company decided to increase its product variety in response to the demand for handicrafts it received through the e-commerce company it established in the U.S. Sepiciler also started works...

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Waffel Meyer prepares its second factory for export

Waffel Meyer prepares its second factory for export

BY ZEHRA ORUC German Waffel Meyer, world’s largest ice cream cone producer, realized its second investment abroad after Poland, in Turkey in 2019 with 30% local capital and an investment budget of approximately EUR 7m. The company which holds 18% of the market share in Turkey in 2020, aims to cover 35% of the market...

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Real sector confidence reaches highest level in 2.5 years

Real sector confidence reaches highest level in 2.5 years

Real sector confidence (RSCI) rose by 2.4% in February compared to last month, reaching 109,3. RSCI reached its highest level since May 2018. Meanwhile, the seasonally adjusted real sector confidence index (RSCI-SA) decreased by 0.3% to 108.7 compared to the previous month. According to the survey questions that make up the index, the export quantity,...