Category: Business

  • Turkish Airlines resumed flights from Istanbul to Moscow

    Turkish Airlines resumed flights from Istanbul to Moscow

    On November 1 2010 Turkish Airlines resumed flights from Sabiha Gokcen International Airport located in Asian part of Istanbul to Moscow Domodedovo Airport. The flights will be operated by the airline’s subsidiary – AnadoluJet.

    turkishairlinesBoeing 737-809 of Turkish Airlines will be flying between Istanbul and Moscow four times a week:

    Flight From/To Frequency DEP ARR

    TK 7375 Moscow (Domodedovo) – Istanbul (Sabiha Gokcen) Monday, Wednesday, Thursday, Saturday 15:05 17:05

    ТК 7374 Istanbul (Sabiha Gokcen) – Moscow (Domodedovo) 09:55 13:55

    Turkish Airlines established in 1933 is a national air carrier of Turkey and a member of international aviation alliance Star Alliance. Fleet of the airline features modern Airbus and Boeing aircraft. Turkish airlines is glad to offer a worldwide route network to its passengers. Development of international passenger traffic market is considered by the airlines through partnership with Star Alliance members and attraction of transit passenger flows.

    Moscow Domodedovo Airport is the largest airport of Russia. Its market share in total passenger traffic in Moscow Aviation Hub makes 46%. At the moment 76 partner airlines (48 foreign including 12 representing the CIS States and 28 Russian) connecting over 243 destinations operate flights all over the world. The unique route network covered by Domodedovo partner airlines provides for 101 exclusive destinations. In 2009 18,7 million passengers benefited from Domodedovo services. Domodedovo Airport has been chosen for operations to Moscow by member airlines of two world aviation alliances: Star Alliance and oneworld.

  • MOIL eyeing manganese properties in South Africa,Turkey, Congo

    MOIL eyeing manganese properties in South Africa,Turkey, Congo

    NAGPUR: State-owned MOIL today said it is looking at acquisitions in South Africa, Turkey and Congo to meet growing domestic demand for manganese ore, which is pegged to touch 4.5 million tonnes in 2012 if the target for enhancing steel production capacity to 120 MT is met.

    The announcement comes ahead of Miniratna Manganese Ore India Ltd’s (MOIL) 20 per cent initial public issue, which is likely to take place later this month, through which the government plans to mop up about Rs 1,500 crore.

    “The demand for manganese is going to grow. The requirement will grow to 4.5 MT by 2012 from about 2.4 MT at present. We are looking at acquisition of some manganese property abroad. We have visited South Africa and Turkey and are also exploring possibilities in Zambia and Congo,” MOIL Chairman K J Singh told reporters here.

    The company is exploring opportunities in South Africa with NMDC , which is India’s largest iron ore producer, Singh said, adding that besides manganese, MOIL is also eying nickel and chromite properties abroad.

    Manganese ore is a key ingredient for producing steel and about 30 kg of ore is required to produce a tonne of steel. The country’s steel output is likely to increase to 120 MT by 2012 from about 70 MT at present, resulting in the need for about 4.5 MT of manganese ore.

    MOIL at present meets 50 per cent of the domestic requirement of the ore and plans to ramp up production within the country to 1.5 million tonnes from the existing 1.1 million tonnes by 2015 through an investment of Rs 768 crore.

    In addition, the company plans to spend Rs 50 crore every year for acquisition of equipment capable of increasing production, Singh said, adding, “The company has cash reserves of Rs 1,700 crore.”

    The company is also in the process of expanding its domestic ore reserves and plans to carry out about 50,000 metres of exploratory activities in 814 hectares of land adjacent to its existing reserves in Bhandara and Nagpur, which has been reserved for it by the Maharashtra government.

    It is waiting for prospecting licences to explore more reserves, the Chairman said, adding that the company’s proven reserves stand at 22 MT at present, out of the total resource base of 69.6 MT.

    “We have only 20 per cent of the country’s reserves with us, but possess 65 per cent of the country’s high grade reserves,” Singh said.

    MOIL is also setting up two ferro-alloy plants under joint ventures with SAIL and Rashtriya Ispat Nigam Ltd at a total investment of Rs 150 crore.

    via MOIL eyeing manganese properties in South Africa,Turkey, Congo – The Economic Times.

  • Turkey, Bangladesh forge links, seek higher cooperation in trade

    Turkey, Bangladesh forge links, seek higher cooperation in trade

    Turkish Prime Minister Recep Tayyip Erdoğan called for a higher level of trade with Bangladesh on Sunday, vowing to support the South Asian Muslim country in international platforms.

     Prime Minister Recep Tayyip Erdoğan visited the International Turkish Hope High School in Bangladesh and was moved by a warm welcome from students of the educational institute.
    Prime Minister Recep Tayyip Erdoğan visited the International Turkish Hope High School in Bangladesh and was moved by a warm welcome from students of the educational institute.

    “We will never leave Bangladesh alone,” Erdoğan told reporters in a joint press conference with his Bangladeshi counterpart Sheikh Hasina in capital Dhaka during his two-day visit. This visit, which was the first Turkish prime ministerial visit in 21 years to the country, was to bolster growing trade relations and bilateral ties between the two countries. The two prime ministers held bilateral talks and meetings with delegations before the news conference, which Erdoğan defined as “very useful.”

    State Minister and Deputy Prime Minister Ali Babacan, State Minister Mehmet Aydın, who is also the co-Chairman of the Turkey-Bangladesh Joint Economic Commission, Finance Minister Mehmet Şimşek, Energy and Natural Resources Minister Taner Yıldız, Deputy Chairman of the Justice and Development Party (AK Party) Nükhet Hotar and Samsun Deputy Suat Kılıç accompanied Erdoğan during his visit.

    Noting that he is pleased to be in a “friendly and brotherly” country, Erdoğan said he assessed the current level of bilateral ties between the two countries today with his counterpart.

    Erdoğan said, “Turkey is one of the first countries that recognized Bangladesh’s independence. Our relations have increasingly strengthened. We appreciate and follow Bangladesh’s steps in its path to development. We are monitoring its successful record in human rights, rule of law and gender equality. There have never been problems between Turkey and Bangladesh. In addition, the two countries also display solidarity in international organization. We want to continue to enhance our economic, cultural and political cooperation,” Erdoğan told the news conference.

    Pointing to the fact that trade volume between the two countries was only $47 million in 2002 but reached $658 million by 2009, Erdoğan said these numbers don’t reflect the potential between Turkey and Bangladesh. The prime minister said they have increased the previously set $1 billion goal for 2015 to $3 billion. “There should be more, not less,” Erdoğan underlined.

    Erdoğan also noted that Turkish Airlines will launch direct flights to Dahka on Dec. 23 this year, which he believes will increase trade and tourism and solidarity between the two nations.

    Turkey and Bangladesh are also in the Developing-8 (D-8) — an arrangement for development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey — that enhances dialogue between the two countries.

    The establishment of the D-8, an organization aimed at fostering economic cooperation among its Muslim developing country members, was announced officially by a summit of heads of state and government in İstanbul in June 1997.

    Saying that there is also cooperation between Bangladesh and Turkey in the sphere of education, Erdoğan said Turkey is helping the country in bachelor, masters and military education.

    Turkey and Bangladesh signed two agreements in health and diplomatic sectors during Erdoğan’s visit. The first agreement envisages cooperation in the health sector between the two countries. The second agreement is about granting plots of land for diplomatic missions both in Ankara and Dhaka.

    Hasina also said talks held with Erdoğan and with the Turkish delegation took place in a warm and friendly atmosphere.

    Noting that they hold similar views on many topics in international affairs, Hasina said they have an agreement in the struggle against any type of terrorism.

    Hasina stated they agreed to continue cooperation in health, education and the defense industry.

    “I want to express my admiration to Prime Minister Erdoğan for his success in international relations and his leadership,” Hasina concluded.

    Before his meetings with Bangladeshi officials, Erdoğan visited Savar National Cemetery on his second day in Dhaka. Erdoğan later was expected to hold talks with Bangladesh’s President Muhammad Zillur Rahman and was set to proceed to a lunch hosted by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

    During his visit, Erdoğan also visited International Turkish Hope High School, which was established in 1996 by Turkish businessmen, where he was welcomed by traditional Turkish and Bangladeshi dances and songs, congratulating those who have contributed to the foundation and maintenance of the school.

    While the host school ran video footage featuring Erdoğan reciting the poem “Canım İstanbul,” Erdoğan and other ministers nearly wept. Stressing that his presence here has a special meaning, Erdoğan said it is pleasing to see Turks and Bangladeshis moving together towards the same goal.

    Speaking at a ceremony at the high school, Erdoğan said Bangladesh and Turkey are two countries that have no problems between one another. Noting that Bangladesh could be one of the most modern countries in the world, Erdoğan said the country has a young population of 160 million and could successfully utilize this human capital. Erdoğan also stressed the need for democracy and noted there needs not be compromise to achieve freedom. “Better democracy, better life standards, better economy,” Erdoğan pointed out.

    via Today’s Zaman, your gateway to Turkish daily news.

  • ‘Anatolian tigers’ conquering Bosphorus villas

    ‘Anatolian tigers’ conquering Bosphorus villas

    NURİYE DOĞU

    ISTANBUL – Radikal

    Prestigious, luxury residences alongside the Bosphorus in Istanbul are slowly but surely changing hands. Varying between $10 million and $100 million in price, these villas have started to receive great interest from businesspeople hailing from Anatolian cities. The Bursa-based Türkün Holding has recently purchased a villa on the Bosphorus

    Owning a villa alongside the magnificent Bosphorus in Istanbul is regarded as a 'prestige booster,' while selling a villa may erode such prestige. That's why villa sales alongside the Bosphorus are generally conducted through word-of-mouth. Hürriyet photo
    Owning a villa alongside the magnificent Bosphorus in Istanbul is regarded as a 'prestige booster,' while selling a villa may erode such prestige. That's why villa sales alongside the Bosphorus are generally conducted through word-of-mouth. Hürriyet photo

    Bosphorus-view luxury villas, well known for their high prices, are attracting attention of businesspeople especially from Anatolian companies.

    Being mostly on the Anatolian side of Istanbul, the waterside villas, varying between $10 million and $24 million in price, have been receiving high demand. Their enigmatic histories and the length of quays are the main attraction points for those looking to buy a waterside villa.

    A boom in interest has been observed for the villas over the past four months, according to Sinem Ayıkcan Yılmaz, an expert of villas at Ayıkcan Emlak, a real estate agency.

    Ayıkcan Emlak is currently conducting “secret” sales negotiations for four waterside villas that are not on the market, Yılmaz said. “We offer these villas, each worth between $25 million and $58 million, to our special customers.”

    Owning a Bosphorus villa is a “prestige booster,” she said, adding that the global economic crisis did not create an obstacle for the buyers of these luxury homes. The sales are not announced to the public, as such a move may result in a “loss of prestige” for the former owner, according to Yılmaz.

    Anatolian interest in Bosphorus villas has become perfectly visible, according to Cem Sallı, a real estate consultant at Coldwell Banker Bravo. As capital changes hands – from the so-called Istanbul elite to Anatolia’s dynamic companies – these villas have also begun to be transferred as well, according to Sallı.

    There are currently more than 100 villas “secretly on sale” alongside the Bosphorus, according to Sallı. “The interest is mostly from the northwestern province of Bursa, followed by İzmir and Ankara,” he said. “We also brokered for a businessman from the southeastern city of Diyarbakır for his house purchase. That residence sold for $10 million.”

    The Erbilgin residence, owned by the Erbilgin family and located in Yeniköy, Istanbul, is regarded as the most attractive house on the Bosphorus. The residence has been waiting for a buyer for a long time, with a price tag of $100 million.

    A status indicator

    Large families such as Koç, Sabancı, Demirören, Ülker, Kıraç, Boyner and Doğan have villas alongside the Bosphorus. The Kont Ostrorog residence, owned by Rahmi Koç, is one of the most attractive and worth nearly $100 million.

    Ferit Şahenk, chairman of Turkey’s Doğuş Group, Ali Ağaoğlu, board chairman of the Ağaoğlu Group and Güler Sabancı, chairwoman of Sabancı Holding, are some of the other businesspeople who own Bosphorus villas.

    Confirming demand from Anatolia, Muhterem İlgüner, a brand consultant, said buying a Bosphorus residence is a status indicator. “Anatolian capital wants to impose itself on Istanbul. To buy a Bosphorus villa is the way to say ‘I am also here.’ Anatolian companies are proving themselves as they get stronger,” İlgüner said.

    Three more houses on the Bosphorus have been sold for a total of $39.2 million during the past few weeks. The Clifton house was purchased by Aziz Torun, president of Torunlar Group, for $11.5 million. Koza İpek Holding’s chairman Akın İpek purchased a house in Bebek while Erol Türkün, owner of Bursa-based Türkün Holding, has become the owner of a waterside villa for $6.2 million in Anadoluhisarı.

    Hasan Aslanoba, partner of Bursa’s Erikli, also purchased a villa in Kandilli for 16 million euros in June.

    Sales conducted secretly

    Transfers of Bosphorus villas are made secretly, according to Ulvi Özcan, from real estate agency Turyap Çengelköy. “The most expensive house we have is the Abud Efendi waterside residence in Kandilli, where two famous Turkish television series, Gümüş and Kurtlar Vadisi, were shot.” The villa was put up for sale by the two daughters of the late businessman İsmail Özdoyuran, but according to Özcan, customers find the $45 million tag expensive.

    Noting that foreigners are also interested in Bosphorus villas, Özcan said Gulf Arabs have especially been displaying great interest, but “they cannot buy due to the property ban imposed on foreigners.” Russian and Iranian nationals have also shown interest in these villas, according to Özcan.

    Nearly 10 watersides villas in Istanbul were secretly sold during 2009. The Yedi Sekiz Hasan Paşa residence in Kanlıca was sold to Nezih Barut, board chairman of pharmaceuticals firm Abdi İbrahim, for nearly 20 million Turkish Liras. A waterside residence in Bebek and another in Kanlıca neighborhoods were sold for $18 million and 27 million liras, respectively, and the historical Yüzüklü house in Beykoz was sold to Yaşar Dalkıran, owner of the Dalkıran Group, for 13 million liras.

  • Oil and Gas Pipelines Industry Outlook in Turkey to 2014 now available at SandlerResearch

    Oil and Gas Pipelines Industry Outlook in Turkey to 2014 now available at SandlerResearch

    GlobalData’s energy offering, “Oil and Gas Pipelines Industry Outlook in Turkey to 2014 – Details of Operating and Planned Crude Oil, Petroleum Products and Natural Gas Pipelines” .

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    PRLog (Press Release) – Nov 13, 2010 – Dallas, TX: SandlerResearch announce it will carry Oil and Gas Pipelines Industry Outlook in Turkey to 2014 – Details of Operating and Planned Crude Oil, Petroleum Products and Natural Gas Pipelines Market Research Report in its Store.

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    GlobalData’s energy offering, “Oil and Gas Pipelines Industry Outlook in Turkey to 2014 – Details of Operating and Planned Crude Oil, Petroleum Products and Natural Gas Pipelines” is the essential source for industry data and information related to the pipeline industry in Turkey. It provides asset level information related to all active and planned crude oil, petroleum products and natural gas transmission pipelines in Turkey. The profiles of major companies operating in the pipeline industry in Turkey are included in the report. The latest news and deals related to the sector are also provided and analyzed.

    This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

    Scope

    Updated information relating to all active and planned crude oil, petroleum products and natural gas pipelines

    Provides operator information, start year, start point, end point, onshore/offshore, length, diameter and capacity for all active and planned crude oil, petroleum products and natural gas pipelines

    Identifies key trends and issues in the oil and gas pipelines industry

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    Obtain the most up to date information available on all key active and planned transmission pipelines in Turkey

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    Table of Contents:

    1 Table Of Contents 2

    1.1 List of Tables 5

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    2.1 What Is This Report About? 6

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    3 Turkey Pipeline Industry 7

    3.1 Turkey Pipeline Industry, Overview 7

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    3.2 Turkey Pipeline Industry, Key Trends, Drivers, and Challenges 7

    3.2.1 Turkey Pipeline Industry, Major Trends 7

    3.2.2 Turkey Pipeline Industry, Key Drivers 8

    3.2.3 Turkey Pipeline Industry, Primary Challenges 8

    3.3 Turkey Pipeline Industry 9

    3.3.1 Turkey Pipeline Industry, Crude Oil Pipelines 9

    3.3.2 Turkey Pipeline Industry, Natural Gas Pipelines 10

    3.4 Turkey Pipeline Industry, Planned Pipelines 12

    3.4.1 Turkey Pipeline Industry, Planned Crude Oil Pipelines 12

    3.4.2 Turkey Pipeline Industry, Planned Natural Gas Pipelines 12

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    Related Reports:

    Oil and Gas Pipelines Industry Outlook in the US to 2014 – Details of Operating and Planned Crude Oil, Petroleum Products and Natural Gas Pipelines

    China natural crude oil and natural gas mining industry, 2010

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    Oil and Natural Gas Corporation Limited Oil & Gas Exploration and Production Operations and Cost Analysis – 2009

    Turkey Oil and Gas Pipelines Industry to 2013 Investment Opportunities, Analysis and Forecasts of All Active and Planned Pipelines in Turkey

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  • Cafe owners protest recent tax hike on alcohol in Istanbul

    Cafe owners protest recent tax hike on alcohol in Istanbul

    Members of the Beyoğlu Entertainment Venues Association gather in front of Galatasaray High School in Istanbul's Taksim district to protest a tax hike on alcohol. DAILY NEWS photo, Hasan ALTINIŞIK

    Members of the Beyoğlu Entertainment Venues Association protested Thursday the recent 30 percent tax hike on alcoholic beverages, claiming the government is using the national budget deficit and personal health as excuses to clampdown on alcohol.

    Gathering in front of the Galatasaray High School in Istanbul’s Taksim district with posters saying, “The budget deficit cannot be covered with alcohol” and “We are selling the most expensive alcohol in Europe,” the association members said they were taking legal action over the special consumption tax hike that was implemented Oct. 25.

    “If the government’s reason for this practice is the budget deficit, I wonder whether alcohol is a more special consumption material than automobiles, jewelry or antiques?” asked Tarkan Konar, the head of the association.

    Emphasizing that cafe and restaurant owners are not responsible for the budget deficit, Konar told the Hürriyet Daily News & Economic Review that loading more taxes on their businesses compared to other sectors is against the Constitution.

    Noting that public health is another excuse used by the Justice and Development Party, or AKP, government, just as it was for the smoking ban, Konar said only authoritarian regimes think about the public’s health more than the public itself.

    “The people coming to such venues are over 18 and they can take responsibility for themselves. The government should not think about our health more than us,” said Konar, whose cafe serves alcoholic beverages in Beyoğlu, where there are approximately 2,000 such venues.

    According to Konar, while some companies producing alcoholic beverages have reflected the tax rise in their prices, others cut from their profits so as not to affect their sales. “Thus, the prices you currently see on the shelves do not reflect the tax hike directly,” said Konar.

    Association members said even though they are uncomfortable with the tax hike, restaurant and cafe owners have to include the increase on their menus, but this will cause a decrease in their customer numbers. “Entertainment is not a luxury, it is a right according to the universal declaration of human rights. However, if I charge 10 Turkish Liras for a glass of beer, my customers will prefer to drink in their homes,” Konar said.

    Stressing that an entertainment mentality addressing only the upper-middle class would create decadence, separation and hate in society, Konar said a measurement showing the country’s level of welfare is the amount and quality of the time they spend outside their homes.

    Watching the protest, 21-year-old Ali Kerem Çeliker said he couldn’t understand why Turkey’s budget deficit could not be surmounted, given the amount of taxes taken from the public. “The tax hike on alcoholic beverages was applied because the government wants to make people stay away from alcohol and smoking by using public pressure,” Çeliker said.

    Saying that the choice to drink or not drink should be left to individuals, Çeliker said in this circumstance people are confronted by obstacles put up by the government.