Turkish Forum

Category: Business

  • Turkcell Introduces ‘Dual Carrier’ Technology to Turkey and Doubles Mobile Internet Speed

    Turkcell Introduces ‘Dual Carrier’ Technology to Turkey and Doubles Mobile Internet Speed

    ISTANBUL, December 2, 2010 /PRNewswire-FirstCall/ — Turkcell (NYSE: TKC, ISE: TCELL), the leading communications and technology company in Turkey, is delighted to announce that it will introduce “Dual Carrier” technology to Turkey and so become one of only ten companies in the world to use this latest technology.

    Turkcell’s 3G network will be made compatible with Dual Carrier technology and will support mobile internet speeds of up to 42 Mbps. DC-HSDPA technology, which enables to use 2 frequency at the same time, will double the speed at which Turkcell subscribers are able to use mobile Internet via compatible modems and smart phones.

    Commenting, Turkcell’s Chief Network Operations Officer, Ilter Terzioglu, said: “Turkcell will continue to invest in the latest technology and allow our customers to enjoy a very high speed, high quality mobile internet experience. Mobile internet becomes even more meaningful with ‘instant access’ and Dual Carrier technology is a new advance in 3G/HSDPA technology, which significantly increases the maximum speed available to customers. We will complete the update of our network as soon as possible. We will soon double mobile internet speed, allowing our subscribers to use Turkcell 3G VINN at 43.2 Mbps. We are aiming to achieve higher mobile internet revenues in accordance with the increasing smart phones as well as the higher data usage at faster speeds.”

    About Turkcell

    Turkcell is the leading communications and technology company in Turkey with 33.9 million postpaid and prepaid customers and a market share of approximately 55% as of September 30, 2010 (Source: Our estimations, operator’s and the Telecommunication Authority’s announcements). Turkcell provides high quality data and voice services to approximately 80% of the Turkish population through its 3G technology supported network and to 99.07% of the Turkish population through its 2G technology supported network. Turkcell reported TRY2.3 billion ($1.5 billion) net revenue for the period ended September 30, 2010 and its total assets reached TRY14.5 billion ($10.0 billion) as of September 30, 2010. Turkcell has become one of the first operators among the global operators to have implemented HSDPA+ and to reach to 42.2 Mbps speed with HSPA multi carrier solution. Turkcell is a leading regional player and has interests in international mobile operations in Azerbaijan, Belarus, Georgia, Kazakhstan, Moldova, Northern Cyprus and Ukraine which, together with its Turkish operations, had approximately 60.4 million subscribers as of September 30, 2010. Turkcell has been listed on the NYSE and the ISE since July 2000 and is the only NYSE listed company in Turkey and is among the top 15% of companies listed on NYSE by its size as of October 2010. 51.00% of Turkcell’s share capital is held by Turkcell Holding, 0.05% by Çukurova Holding, 13.07% by Sonera Holding, 2.32% by M.V. Group and 0.01% by others while the remaining 33.55% is free float. Read more at

    For further information please contact Turkcell

    Nihat Narin, Investor and International Media Relations

    Tel: +90-212-313-1244

    Email: nihat.narin@turkcell.com.tr

    investor.relations@turkcell.com.tr

    SOURCE Turkcell

    via Turkcell Introduces ‘Dual Carrier’ Technology to Turkey and Doubles Mobile Internet Speed — ISTANBUL, December 2, 2010 /PRNewswire-FirstCall/ –.

  • Obstacles shuould be lifted for more Turkey-Tunisia trade

    Obstacles shuould be lifted for more Turkey-Tunisia trade

    Minister said that Tunisia should lift obstacles to trade to pave the way for Turkish businessmen who were eager to make investments in this country.

    Thursday, 02 December 2010 17:21

    caglayanTurkish foreign trade minister said on Thursday that Tunisia should lift obstacles to trade to pave the way for Turkish businessmen who were eager to make investments in this country.

    Delivering a speech at Turkey-Tunisia Business Forum in Tunis, State Minister for foreign trade Zafer Caglayan said that Turkish businessmen were ready to invest in this country as they did in their own countries.

    Caglayan said his visit aimed at boosting trade between Turkey and Tunisia and inviting Turkish businessmen to this country.

    Tunisian economy was growing and Tunisia had several important energy resources, he said. “Tunisia should diversify its products and increase its investments abroad,” he said.

    Turkey has made several economic initiatives in the world in the past 8 years and it was the 15th largest economy of the world, he said. Turkey reached this position with its political and economic stability as well as free economy, he said.

    Caglayan said that Turkey was exerting great efforts to boost its trade with all countries especially neighboring ones and the country was eager to increase its commercial ties with Tunisia.

    Tunisian Minister of Trade and Handicrafts Ridha Ben Mosba said that the two countries should enhance bilateral ties.

    Mosba said Tunisia offered a good environment for businesspeople and several investment opportunities.

    AA

  • Forget the Dragon: Its All about the Turkey

    Forget the Dragon: Its All about the Turkey

    By Joe Parkinson

    Well, perhaps not—but Istanbul, Turkey’s financial and cultural capital, this week beat a glut of Chinese cities to the top spot of a Brookings Institution ranking of the world’s most dynamic metropolitan centers.

    The ‘Global Metro-Monitor’ report, co-authored with the London School of Economics and released Wednesday, ranks cities according to changes in income and employment in the pre-crisis, crisis and post-crisis periods.

    Istanbul, which according to the study posted a 7.3% gain in employment and 5.5% rise in gross value added per person—a proxy for income—in the post-crisis period, leapfrogged 144 places to top four Chinese titans in the top ten: Shenzhen, Shanghai, Guangzhou and Beijing.

    Clearly, that’s reflective of Turkey’s rapid recovery from the recession, which saw its economy tie China in the second quarter for the fastest growth in the G20.

    But is also underscores that Istanbul—a booming city of more than 13 million with a thousand-year tradition as a trading center—is the overwhelming driver of Turkey’s rebound, whereas China’s wealth drivers are more dispersed.

    Turkey’s largest city accounts for 27% of Turkey’s economy and 55% of foreign trade, according to Turkstat, the official statistics agency.

    Istanbul has developed a swagger in recent years as a rising middle class fuels a consumer boom that is turning the city into a fashion and tourism hub. And the Brooking’s report will offer more fodder for senior government ministers here who are eager to trumpet the city as an international financial center to rival Dubai or eventually even London.

    But the government’s plan, spearheaded by economics minister and deputy prime minister Ali Babacan, also faces huge challenges. Turkey’s economy is tiny relative to China’s, whose sheer size has benefited financial centers such as Shanghai and Hong Kong. Many executives say the city’s lifestyle is attractive, but the infrastructure needs updating.

    A recent survey of global financial centers by London-based consultancy Z/Yen Group released in October illustrated the gains Istanbul has made, but underlined the improvement that need to be made if it is to become globally competitive.

    The city had the most improved scores of any metropolis thanks largely to gains in lifestyle and business confidence, but it still ranked 70th in the world, behind Warsaw, Manila and Glasgow.

    via Forget the Dragon: Its All about the Turkey – New Europe – WSJ.

  • Turkey Shows Robust Growth, But Warning Signs Are Ahead

    Turkey Shows Robust Growth, But Warning Signs Are Ahead

    While most of Europe struggles to secure economic growth, the Turkish economy has been booming. The country’s economy has recovered rapidly from the ongoing economic crisis, posting 10.3 percent growth in the second quarter, tying China for the fastest growth in the G-20. But, analysts warn, dark clouds could be on the horizon.

    Istanbul store front (file photo)
    Istanbul store front (file photo)

    At one of the many factories of Aydinlar Construction, business is booming. The company not only builds large construction projects, it also produces construction materials and is a supplier of such things as turbines and pumps.

    One of the executives Omer Aydinlar says its success comes from Turkey’s deepening ties with its Middle Eastern neighbors.

    “[The] Middle East is very important for us. There is a big change actually, more and Middle Easterners especially from the UAE, are coming to Turkey. And with the changing laws and environment in Turkey there is a lot of investment coming to Turkey and there is a lot of partnerships being established with the Middle Easterners. And of course once they come to Turkey and establish those partnerships and [do] business with Turkey, they pull those Turkish investors and businessmen back to their country, back to the region as well.”

    Analysts say the Turkish government’s fostering ties with its Middle Eastern neighbors is a part of wider initiative to diversify Turkey’s dependence on the European markets. But it’s not only the Mideast that Turkey has its eyes on.

    A special trade promotion video has been produced by the Turkish business confederation Musiad, aimed at African markets. Omer Bollat, former head of Musiad, says Turkey has managed to successfully weather the world economic turmoil partially by diversifying its target markets in business.

    “Turkey has also been opening up to Eurasia markets, the Middle Eastern Gulf countries and African countries —  particularly North African countries.”

    That policy is paying dividends resulting in record exports.

    The robust nature of Turkey’s recovery also lies in the strength of its financial sector, says chief economist Emre Yigit of the Turkish trading house Global Securities.

    “We learned our lessons from the crisis in 2001 to 2002, when we underwent our own little banking collapse, which cost us something like 30 to 35 percent of [our] GDP, by the time we cleaned up all the mess.”

    The country’s banking sector after the introduction of IMF policies following its banking crisis, is among the best regulated and controlled banks in the world. The levels of private debt too are among the lowest in the G20 and the government this year has cut its budget deficit.

    Yigit says now , things are about as good as they can get, but warns of storm clouds on the horizon.

    “The fact that we are outgrowing our European trading partners by a factor of between five to 10 times this year means our current account has plunged to a deficit and is likely to widen further next year — at which point we will be running the third or fourth current deficit in the world. I am not sure that is sustainable even in the medium term.”

    Analysts agree that while its recovery has been impressive, Turkey’s dependence on imports and domestic demand is magnifying a potentially fatal flaw: a blossoming deficit financed by speculative investments. That could mean the end of the Turkish economic party followed by a severe hangover.

    via VOA | Turkey Shows Robust Growth, But Warning Signs Are Ahead | Europe | English.

  • How deep does Turkey’s African initiative go?

    How deep does Turkey’s African initiative go?

    Turkey has long ignored many parts of the world, particularly Africa. Today, Turks are rediscovering Africa, which is not too far from Turkey, and which they had established close ties with during the Ottoman period.
    Despite the fact that the Gülen movement went to the continent in the mid-1990s, opening various education institutions and dialogue and culture centers across the continent, the year when Turkish foreign policy woke up to Africa was 2005. Then-Foreign Minister Abdullah Gül had declared 2005 the Year of Africa for Turkish foreign policy, as the first step in Turkey’s foreign policy initiatives. The progress made in Africa since then cannot be ignored. Although it is on the brink of taking its very first steps in many African countries, Turkey’s success, its welcome in many places across the continent and its gains are substantial.

    I personally have always nurtured a special interest in Africa. So, I tend to seize every opportunity to pay a visit to the unfortunate countries of a continent that has suffered centuries of indescribable sorrow in the unrelenting grip of Western colonialism. I have visited Sudan, Tanzania, South Africa, Egypt and Algeria, some on multiple occasions. When my dear friend, Mustafa Günay, the secretary-general of the Turkish Confederation of Businessmen and Industrialists (TUSKON), invited me to attend the Turkey-Uganda Business Forum in Kampala, the capital of Uganda, between Nov. 29 and Dec. 1, I saw it as an opportunity for me visit the continent again and eagerly flew to Uganda with some 50 businessmen. TUSKON establishes bridges of commerce between Turkish and African businessmen using the infrastructure laid by Turkish schools spreading the light of science in Africa and elsewhere and making Turkish presence known around the world. There is a long list of contributions TUSKON has made to the economy of Turkey as well as those of its target countries.

    Since its establishment, TUSKON has added great value to our economy and Turkish foreign trade by encouraging small and medium-sized enterprises (SMEs), which form the backbone of the Turkish economy, and paving the way for Turkish foreign trade and investors entering new markets. I am sure that we will see the foundations laid by TUSKON, the business ties it mediated, and the global business network it established pay off by producing gains that will soon increase exponentially. Indeed, this organization embodies a mentality that seeks to ensure gains not only for Turkey, but also for partner countries and their societies, and that never approves of exploitation or abuse in theory or in practice. Accordingly, this underlying principle and the win-win philosophy it adopts help TUSKON boost the business volume not only of Turkey, but also its partners. By contributing to the welfare of these countries, it puts a grateful smile on the faces of the local people. As you know, this is an attitude that African countries and their peoples rarely experience from the white race, which some call Muzungu with a mixture of respect and fear.

    As Deputy Prime Minister and State Minister Bülent Arınç — who has made a habit of visiting the Turkish schools in the countries he visits and encouraging the teachers in their work– noted as he visited the Turkish Light Academy, a boarding school with some 450 students, in Kampala, Turkey is greatly indebted to these schools who provide education at great self-sacrifice, even in countries that do not have a single Turkish embassy or diplomatic representative office, and to the young Turkish volunteers and idealistic educators from Anatolia working in these schools.

    As part of the African initiative that started in 2005, Turkey established its first embassies in 15 African countries. The first Turkish Ambassador to Kampala was appointed in March 2010.

    As part of this initiative, Turkish Airlines (THY) launched direct flights to many African countries and cities, including Kampala. Until very recently, i.e. 2007, Turks had to fly aboard a foreign airliner from İstanbul to Germany or the UK and wait several hours there before finding another flight to Cape Town. Today, they can reach many African destinations directly from İstanbul with THY.

    The truth one can discover if s/he is objective and fair is that many of Turkey’s foreign policy initiatives, including the opening of Turkish embassies in many African countries and THY’s adopting new destinations on the continent, are reliant on the infrastructure created by the Turkish schools and businessmen inspired by the Gülen movement in terms of economic, cultural, social and human potential. Indeed, when Turkish diplomats freshly appointed to these newly established embassies go to their respective countries, they find that the people make their experience and networks easily available to them. In return, the people whom these diplomats will provide service to, in most places besides a few Western countries, are no one but the sacrificial and generous Turkish businessmen and their families who had migrated because of suggestions by Mr. Fethullah Gülen, who lends all kinds of support to the Turkish volunteers and educators.

    Turkey’s African initiative has a great chance of success. Why? Because the foundations of this initiative had already been laid by the Turkish volunteers long before 2005. A very solid and effective infrastructure for Turkey to improve its ties with these countries in many areas is already in place and extremely robust. Undeniably, this applies to the Pacific region, the Baltic region, Central Asia and Latin America, as well. On this road paved with pure sincerity for serving humanity as the sole goal and without abuse or exploitation, I personally believe in my heart that God will grant countless favors to Turkey and the countries to which Turks are providing services.
  • Isdemir aims to meet customer needs with new facilities

    Isdemir aims to meet customer needs with new facilities

    At the 5th Turkish Steel Market Conference in Istanbul Isdemir technical support deputy DG Mr Fikret Basbug gave a presentation about Isdemir and its modernization work.

    Mr Basbug referred to Isdemir as the largest investment project of Turkish steelmaker Erdemir. In 1975, Isdemir produced 1.1 million tonnes per annum, consisting mostly of long products. Thanks to investments, this output volume increased to 2.2 million tonnes per annum.

    Mr Basbug pointed out that in 2002 during the transfer of Isdemir to Erdemir the most important issue was to establish a hot rolling plant with an output capacity of 1.5 million tonnes per annum but this was subsequently revised to a hot strip rolling plant with an annual output capacity of 3.5 million tonnes. By the end of 2011, Isdemir’s liquid steel production is expected to be 5.3 million tonnes. The hot strip rolled plant project, costing USD 3 billion is now 90% complete with 10,000 people working on the construction. Isdemir worked on the project with engineering enterprise Erenco, a subsidiary of Erdemir. Technology from Mitsubishi, Hitachi and Siemens has been used in the project.

    The Isdemir official also mentioned completed projects, indicating that the capacity of Isdemir’s port has been increased from 12 million tonnes to 20 million tonnes per annum. The company’s logistics center continues to operate in the Marmara region, while storage facilities have been expanded for raw material stocks. In addition, the company’s coal injection furnace has started operations.

    (Sourced from Steel Orbis)