BY MEHMET KAYA A joint study by Dumlupinar University and Dokuz Eylul University on foreign direct investment (FDI) and its relationship to financial stability in Turkey, Brazil, Argentina, South Africa, Mexico, India and Indonesia for the 2008-2019 period revealed that an increase in non-performing loans (NPLs), normally an adverse indicator for financial stability, raises FDI....
Category: Turkey at a Glance
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NEVITA ATTRACTS LUXURY REAL ESTATE BUYERS TO TURKEY
BY LEYLA ILHAN Fuzul Group subsidiary Nevita, which has brought the equivalent of TRY 10bn in foreign currency to Turkey over the last seven years, plans to attract over USD 1m in foreigner real estate sales with its new brand, Nevita Luxe, according to Faruk Akbal, Chairman of the Board of Directors of Nevita. The...
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DERYA GROUP ENTERS VRF AIR CONDITIONER MARKET
BY MEHMET NABI BATUK Operating in the automotive, white goods, construction, insurance, air conditioning, energy and mining industries, Derya Group has released its variable refrigerant flow (VRF) air conditioner to the market with its DRC Tech brand, according to Huseyin Kis, Chairman of the Board of Directors of Derya Group. “We’ve contributed to a sustainable...
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GOKCEN BECOMES FIRST FEMALE COUNTRY GM OF L’ORÉAL TURKEY
Sinem Sandikci Gokcen has been appointed the first female country general manager of L’Oréal Turkey, to lead the company’s Turkey team. Gokcen, who has 21 years of professional experience in the sector, received her bachelor degree from Middle East Technical University’s Department of Business Administration. After starting her professional career in 2000 at L’Oréal Turkey,...
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NET PROFIT OF BERA HOLDING JUMPS 26% IN H1
The net profit of Bera Holding rose by 26% to TRY 186.8m in the first half of the year (H1), compared to the same period of the previous year, according to a financial statement from the company. The holding ’s sales revenues also increased by 25% to TRY 1.7bn in this period. “The net financing...
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TEB INKS USD 50M COOPERATION DEAL
Turk Ekonomi Bankasi (TEB) has signed a USD 50m cooperation agreement with the European Bank for Reconstruction and Development (EBRD). Thus, the EBRD will provide USD 50m in trade finance to TEB under its Trade Facilitation Program (TFP). Expanding foreign trade is a goal in the agreement. “Contributing to our country’s economy, standing by our...
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MITSUBISHI ELECTRIC TURKEY TO INVEST IN CAPACITY INCREASE
BY MEHMET HANIFI GULEL Operating in the air conditioning industry, Mitsubishi Electric Turkey is preparing to engage its expanded room air conditioner production into its Manisa facility in October, according to Tarik Civak, air conditioner systems department product and technical team manager of Mitsubishi Electric Turkey. The company has decided to invest TRY 167m in...
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KARSAN TO EXPORT 56 ELECTRIC BUSES TO ROMANIA
Bus manufacturer Karsan, which won 100% electric public transport tenders from the Ministry of Regional Development and Public Administration in Romania, will a total of deliver 56 electric buses with an export volume of EUR 35m. The deal adds Romania to the growing list of countries where Karsan electric buses operate, including which have electric...
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PRYSMIAN CONSIDERS TURKEY AN EXPORT HUB
The Italy-based global cable manufacturer Prysmian Group’s Turkey operation Turk Prysmian Kablo considers the country as an export hub, according to Ulku Ozcan, CEO of Turk Prysmian Kablo. “We export to more than 40 countries covering a large area, notably Middle Eastern countries and the Turkic republics,” said Ozcan. The company’s turnover amounted to TRY...
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HOWDEN TURKEY BECOMES SOLE OWNER OF MATRIX
Operating under the umbrella of the UK-based Howden Group Holdings, Howden Turkey has acquired a 100% share in Matrix Turkey, according to Atinc Yilmaz, Regional CEO of Turkey, Middle East and Africa for the Howden Group. Matrix Turkey has operated in the reassurance and specialized brokerage fields since 2014. With this acquisition, the sales range...