Category: Business

  • Qapco opens new representative office in Istanbul

    Qapco opens new representative office in Istanbul

    2 402788 1 248Qatar Petrochemical Company (Qapco) has opened its new representative office in Istanbul, Turkey. The ceremony was attended among others by HE the Minister of State for International Cooperation, Dr Khalid bin Mohamed al-Attiyah, Qatar’s Ambassador to Turkey, Abdulrazzak al-Abdul Ghani and Qapco director and general manager Dr Mohamed Yousef al-Mulla. Al-Mulla reiterated the importance of the Turkish market for Qapco, which has been supplying low-density polyethylene (LDPE) to customers in the country for more than 20 years. The office will help Qapco consolidate its position as a leading exporter of low-density polyethylene (LDPE) to the country, he said. Ambassador al-Abdul Ghani highlighted the “exceptional relationship” between Qatar and Turkey and said the bilateral trade has now exceeded $2bn. Currently, Qapco’s LDPE products are sold to more than 4,500 customers in some 85 countries.

    via Gulf Times – Qatar’s top-selling English daily newspaper – Finance & Business.

  • Turkey’s automotive industry expects all-time record

    Turkey’s automotive industry expects all-time record

    ISTANBUL – Hürriyet Daily News

    Interest rates are vital for the automotive indusrry, Toyota Turkey's CEO Ali Haydar Bozkurt. AA photo

    The automotive industry is close to breaking a sector record for all-times sales this year, with an expected 735,000 passenger cars, said Ali Haydar Bozkurt, chief executive of Toyota Turkey.

    A total of 729,000 passenger cars were sold in Turkey in 2005, the previous record-setting year.

    The sector started 2010 with low expectations due to the economic crisis, Bozkurt told Anatolia news agency on Sunday in the southern province of Adana.

    “We did not even set a target for 2009,” he said.

    The sector benefited from the government’s decision to lift the Special Consumption Tax, or SCT, temporarily in 2009, he said. “For 2010, officials told us openly not to expect any tax further support.

    “The lack of support and the continuing crisis raised no hopes. Everyone was expecting the wounds of the crisis to be treated after 2011. But unexpectedly the markets started doing well. One of the main causes for this was the low interest rates.”

    As 70 percent of passenger car sales in Turkey are made with bank loans, interest rates are vital for the industry, the Toyoto CEO said.

    The low rates made automobiles much more accessible, he said. “Ten or 15 years ago people with savings had to decide whether to buy a car or a flat. But today automobiles cost nearly as little as a plasma TV.”

    Earlier, consumers tended to replace their first-hand cars after eight years, but this period has fallen to three years, Bozkurt said.

    Toyota’s sales expectations were for 26,500 cars at the beginning of the year, but they revised the figure upward to 38,000 due to a rise in sales.

  • Turkey exports one-third of its citrus cultivation

    Turkey exports one-third of its citrus cultivation

    ISTANBUL – Hürriyet Daily News

    Turkey’s citrus exports, currently robust, could expand significantly as Turkish citrus becomes known worldwide as a quality product, an industry group has said.

    Citrus Promotion Group, an organization for the promotion of Turkish citrus in the domestic and international markets, provided figures on Turkey’s citrus exports while attending last week’s tangerine festival in Seferihisar, İzmir.

    Speaking at the festival, the group’s co-chairman, Mustafa Türkmenoğlu, said that Turkey’s total annual citrus cultivation was 2.6 million. “The sector is the mainstay of a total of 5 million people living in the Mediterranean and Aegean regions, directly or indirectly,” he noted.

    Pointing out that only one-third of Turkey’s total citrus cultivation was exported, Türkmenoğlu said that the promotion group aimed to increase citrus exports, which were around $802 million in 2009, to over $1 billion.

    “We established the Citrus Promotion Group after citrus prices fell sharply due to an abundance of yield and some fruits were not even consumed in the domestic market and went to waste. We want to increase the local and foreign demand for citrus fruits. We also want to be able to highlight the concept of ‘Made In Turkey’ and to turn it into a brand,” he said.

    Türkmenoğlu said that after airing TV commercials aiming the Russian market, they attracted much interest; they recently decided to continue with their promotional studies in additional countries.

    He added that the group has already attended many important promotional events in Turkey and abroad thanks to contributions from fresh fruit and vegetable exporters’ unions in the Mediterranean, Aegean and Black Sea regions and in provinces like Istanbul, Antalya and Bursa.

  • Sotheby’s International Realty Brand Enters Turkey | RISMedia

    Sotheby’s International Realty Brand Enters Turkey | RISMedia

    RISMEDIA, December 6, 2010—Sotheby’s International Realty Affiliates LLC announced the opening of Turkey Sotheby’s International Realty in Istanbul.

    The firm, owned by Emin Hitay, will first serve the Istanbul market. Hitay’s firm has an exclusive 25-year master franchise agreement with the Sotheby’s International Realty brand for Turkey and plans to open additional offices in key markets across the country over the next several years.

    “Turkey is a critical part of our growth plan as it represents an important gateway between Europe and the Middle East,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC. “Istanbul is a melting pot of cultures that continues to expand dramatically, with a population of more than 13 million spread over the European and Asian sides of the Bosphorus. I am confident that under Emin Hitay’s leadership, the company will bring quality service to Sotheby’s International Realty clients worldwide.”

    Hitay believes the new company fulfills Turkey’s need for a strong global real estate presence. “Turkey Sotheby’s International Realty will open a new door in Turkey’s global luxury real estate market,” said Hitay. “A luxury real estate brokerage company with a strong international network of hundreds of offices and thousands of sales professionals worldwide is unprecedented here. This exclusive network allows us to ensure customer satisfaction by assisting each client in marketing their properties at both the local and global levels using state-of-art technologies, innovative ideas and exceptional personal service by our internationally trained staff.”

    For more information, visit www.sothebysrealty.com.

    RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

    Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 40 leading brokerages, which make up 575 offices, 30,000 agents, 167,000 closings and represents over $41 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

    via Sotheby’s International Realty Brand Enters Turkey | RISMedia.

  • Young Brazilian entrepreneur sets up company in Istanbul

    Young Brazilian entrepreneur sets up company in Istanbul

    EMIKO JOZUKA

    ISTANBUL – Hürriyet Daily News

    Luiz Arthur Sousa is currently running a company called ‘English Affairs’ in Istanbul.

    Luiz Arthur Sousa is currently running a company called 'English Affairs' in Istanbul.
    Luiz Arthur Sousa is currently running a company called 'English Affairs' in Istanbul.

    Former Brazilian economics student Luiz Artur Sousa decided to set up his own company with three interns from Australia, Mexico and Morocco after just three months working as an apprentice for AIESEC in Istanbul.

    Newly established and now in its sixth month running, English Affairs seeks to provide better communication services and business opportunities between Turkey and the three countries represented by each partner of the company.

    Sousa said his aim in setting up the company was based on a desire to improve communications and customized services between Turkey and other countries. He describes how the multinational members of the company are all able to strengthen the dynamic of the company by drawing on their own experiences in their respective countries and by sharing this knowledge.

    “The relations between Turkey and Brazil and the rest of Latin America are growing a lot. Turkey is becoming a powerful country that represents Middle Eastern countries. There are a lot of opportunities here and I just wanted to give the idea of running a company a go,” he said.

    Although Sousa entertained ideas of going to China and Poland, he was eventually swayed by Turkey’s rich history and cultural tradition.

    Touching on the similarities between Brazilians and Turks, he said: “We are very friendly and receptive people. We open our homes easily to foreigners and people that we care about.”

    Sousa said that before coming to Turkey, like other Latin Americans, he too had harbored some stereotypes about the country.

    “We think of Turkey as a conservative and strict Muslim country. However, when you come here you see a completely different reality,” he said.

    In coming to Turkey, Sousa has swapped “cafezinho” for “çay” and has frequent opportunities to tuck into döner kebabs, known more commonly as Greek barbecue in Brazil.

    For the moment he seems bewitched by what he calls the “magical side of Istanbul” and seems set to stay.

  • Singapore ambassador promotes trade with Turkish companies

    Singapore ambassador promotes trade with Turkish companies

    ISTANBUL – Hürriyet Daily News

    singapore ambassador promotes trade with turkish companies 2010 12 03 l

    Turkish companies could use Singapore as a gateway to the Far East, said Chandra Das, the Singapore ambassador to Turkey, told the Hürriyet Daily News & Economic Review.

    “We have had regular bilateral exchanges at all levels, and it is important that this should continue;” he said. “While Singapore companies have made some inroads into Turkey and vice versa, I believe that we can do much more”

    Turkish companies could use Singapore as a gateway to the region the ambassador said. “They could partner up with our companies in joint ventures and make use of our knowledge of our region. In this regard, the decision to set up a Singapore-Turkey Business Association – which was announced during my president’s state visit to Turkey in June 2009 – signals our two countries’ shared aim of developing deeper bilateral economic and trade ties. We cannot expect immediate results, but the first joint meeting in Singapore in early December is a good start.”

    The Turkish-Singapore Business Council, set up in 2005, is also expected to assist in the development of bilateral trade and economic relations between Turkey and Singapore, one of the most important commercial centers of Asia- Pacific Region. Immense cooperation possibilities exist in the fields of technology, finance, construction, agro-business, tourism and logistics.

    In 2009 barely 11,000 Turks visited Singapore, but this year expectations are that closer to 15,000 Turks will go there by the end of the year. The inauguration of direct flights is sure to expand the number of people wanting to fly there. In any case the Singapore Tourism Board is looking for ways to re-design the “Singapore Experience” for the next 10 years in order to strengthen and enhance the entire visitor experience by focusing on the delivery of products and services. The basic idea is designing and constructing exceptional experiences. Awards were initiated to encourage innovators.

    During Ambassador Das’ last meeting with the governor of Istanbul, he invited the governor to nominate Istanbul for the 2012 Lee Kuan Yew World City Prize. The Lee Kuan Yew prize is a biennial international award to recognize individuals and organizations that have made outstanding contributions to the creation of vibrant, livable and sustainable urban communities around the world. Nominations are open to all individuals and organizations that have demonstrated key leadership roles in such fields as urban planning projects, urban policies and programs, urban management and in applying technology to urban solutions.

    There have been growing links in recent years between Turkey and China. Turkey’s foreign minister has toured that country. But what effect might China itself have on relations between Singapore and Turkey? Das pointed out that in the 21st century, the global economy’s center of gravity will shift from the Atlantic to the Pacific. Singapore serves as a springboard to Asia. “We have developed deep links with China, India and the rest of Southeast Asia, and there are about 7,000 to 8,000 multinational corporations and thousands of international small and medium enterprises that have set up their presence in Singapore. We hope that Turkish companies will use Singapore as a gateway to our region,” he said.

    “The Asia-Europe Meeting is a useful platform for Asian and European leaders to get together to exchange views on common challenges. The leaders welcomed three new members, namely Australia, New Zealand and Russia, at the recent summit in Brussels. Singapore welcomes other countries’ interest in joining ASEM, though it should be pointed out that with an expanded membership of 48, ASEM members are looking for ways to improve their working methods and further address the issue of future enlargement of membership.”

    Das is Singapore’s non-resident ambassador to Turkey and he has years of experience in the business world and has served as a member of parliament.

    He has also become a pro-Chancellor at Nanyang Technological University, or NTU. There are some relations between NTU and similar Turkish universities. “In November 2009, the National University of Singapore signed a memorandum of understanding with four Turkish universities – Middle East Technical University, Istanbul University, Istanbul Technical University and Yıldız Technical University. The objective is to promote international collaboration in top-level research, and student and staff exchanges with the four top universities in Turkey.”

    When asked how Singapore Airlines was doing, Das said the airline has started four weekly non-stop flights between Singapore and Istanbul to replace the current six weekly Singapore-Dubai-Istanbul services. “This is a notable development, as it signifies that traffic between Singapore and Istanbul has grown to the extent that non-stop flights are now economically viable. From the end of October 2010, Turkish Airlines increased services to Singapore, from five weekly services to six, which is also testament to the strong flow of people and trade between both countries.”