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Turkey to reach moon in 2023: Erdogan

Turkey to reach moon in 2023: Erdogan

Turkey aims to achieve first contact with the moon as part of its national space programme in 2023, according to President Recep Tayyip Erdogan. Speaking in an event in Ankara, Erdogan announced a programme with 10 strategic goals of some which included sending a Turkish citizen to a scientific mission in space. “The first rough...

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Mediterra Capital acquires MTS and Kartek Holding

Mediterra Capital acquires MTS and Kartek Holding

By KERIM ULKER Netherlands-based Mediterra Capital buys MTS Teknoloji Yatirimlari and Kartek Holding, which brings together names such as Murat Sancak and Murat Vargı, the leading names of the technology sector. Mediterra Capital sat at the table to take over 100% of MTS Technology and 76% of Kartek Holding. The parties have applied to the...

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Economy may grow by 4-5% in 2021 Q1: Agbal

Economy may grow by 4-5% in 2021 Q1: Agbal

Central Bank Governor Naci Agbal expressed the central bank’s monetary policy stance and economic outlook for the upcoming years in a meeting with economists. “Our most important and indispensable duty is to ensure lasting price stability. We will continue to implement the monetary policy within the framework of this goal,” said Agbal.  Agbal stated that...

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Tukas presses the button for partnership and sales

Tukas presses the button for partnership and sales

Turkey’s tinned food producer Tukas (IST: TUKAS) commissioned Garanti Yatirim to evaluate potential partnership negotiations and to negotiate with potential buyers when necessary. “Our company has authorized Garanti Yatirim Menkul Degerler AS to evaluate potential partnership negotiations and various strategic options within the framework of investment policies and strategies, and to negotiate with potential buyers...

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TRY 780M INVESTMENT TO BE MADE IN BLACK SEA NATURAL GAS

TRY 780M INVESTMENT TO BE MADE IN BLACK SEA NATURAL GAS

TRY 780m will be invested in projects to bring the natural gas discovered in the Black Sea online. With 405 billion cubic meters of natural gas capacity, it will take at least 20 years to extract the reserves, according to calculations. The Turkish Petroleum Corporation (TPAO) will carry out an integrated project consisting of three...

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PTA and Polymer/Chips facility in Adana to be subsidized

PTA and Polymer/Chips facility in Adana to be subsidized

PTA and Polymer/Chips facility in Adana to be subsidized Project-based state aid will be given to the investment of pure a terephthalic acid (PTA) and polymer/chips production facility to be established in Adana. According to the relevant Presidential decision published in the Official Gazette, the investment period has been determined as 6 years from the...

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Pizza group DP Eurasia’s sales boosted by online delivery

Pizza group DP Eurasia’s sales boosted by online delivery

Pizza firm DP Eurasia, which runs Domino’s Pizza brand in Turkey and Russia, said on Wednesday its overall sales in the first 10 months of 2020 rose by 11.8%, driven by a recovery in both markets in September-October. DP Eurasia, which in September reported a 74% fall in first-half core profit due to coronavirus costs,...

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Turkey: Central Bank reserves at $84.5B in October

Turkey: Central Bank reserves at $84.5B in October

Overall reserves increase by 6.1%, foreign currency reserves hit $40.8B, gold reserves at $42.1B, official data showed. The Turkish Central Bank’s official reserve assets grew 6.1% month-on-month to reach $84.5 billion in October, according to data released on Friday. Foreign currency reserves – in convertible foreign currencies – increased by 12.4% to hit $40.8 billion,...

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Istanbul Airport tops European traffic charts Nov.18-26

Istanbul Airport tops European traffic charts Nov.18-26

Airport saw average of 500 flights daily from Nov. 18 to 26, according to Eurocontrol. The Istanbul Airport saw the highest number of flights in Europe from Nov. 18 to 26, according to the European Organization for Air Navigation Safety (Eurocontrol). The airport saw an average of 500 flights daily during the period, according to...

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Qatar Investment Authority acquires 10% stake in Borsa Istanbul

Qatar Investment Authority acquires 10% stake in Borsa Istanbul

Qatar Investment Authority (QIA) signed a Memorandum of Understanding (MoU)with Turkey Wealth Fund (TWF) to acquire a 10% stake in Borsa Istanbul. The deal came after Qatar’s Emir, Sheikh Tamim bin Hamad al-Thani, met with Turkish President Tayyip Erdogan (above) in a formal visit to Turkey last week. The MoU was signed by TWF CEO Zafer Sonmez...