Category: Business

M.I.T. Enterprise Forum opens branch in Istanbul

The M.I.T. Enterprise Forum, a volunteer-based entrepreneurship organization founded as an initiative by the Massachusetts Institute of Technology, or MIT, has opened its ninth global office in Turkey.

FOUNDATION: The founders of M.I.T. Enterprise Forum Turkey pose at the opening ceremony of the organization.

The organization aims to become the most influential global entrepreneurial network by building a platform for networking, knowledge sharing and wealth creation for entrepreneurs worldwide, Richard Kivel, global president of the M.I.T. Enterprise Forum, said at the opening ceremony on Monday in Istanbul.

“We are focused on supporting the passion and creativity that every entrepreneur feels inside,” he said.

The Turkey branch will support young entrepreneurs who make a difference with new ideas, said Gülsün Bozkurt, president for the M.I.T. Enterprise Forum Turkey. “A distinguishing property of M.I.T. Enterprise Forum is that it is an organization of volunteers,” said Bozkurt, who is also an MIT graduate.

The organization has more than 900 volunteers globally, Kivel said. More than 88,000 people attended over 400 events organized by the Enterprise Forum last year, the president said.

The founding members of the M.I.T. Enterprise Forum Turkey hail from various professions such as antiques, information technologies and banking. They include Selçuk Kiper, Çağlan Kuyumcu, Burçin Ergünt, Tayfun Demirören, Atom Damalı and Volkan Ekinci.

Business Plan Competition

The first activity of the Forum will be a Business Plan Competition, with a total prize purse of $70,000.

Groups of three with at least two Turkish members will attend the three-phase competition with their business ideas, said Bülent Hiçsönmez, an M.I.T. Enterprise Forum Turkey board member and Google Turkey director.

The applications will be accepted until Feb. 1, he said. On March 1 the jury will make a shortlist of 30 nominees.

Nine groups will be named on May 3 and will cooperate with professionals such as lawyers and accountants that the Enterprise Forum provides to develop their plans, Hiçsönmez said.

Investors might be interested in business ideas by not only the winners but all attendees, said Ali Haydar Bozkurt, Toyota Turkey CEO, which is sponsoring the competition.

“There is a misunderstanding that entrepreneurs need investors,” said Bozkurt, at his speech at the ceremony. “But the truth is just the opposite. It is the investors looking for young and bright ideas.”

Along with the competition, the forum plans to organize several events including entrepreneurial workshops, a local conference and case studies. These events will provide chance for young entrepreneurs to develop networking with other institutions of MIT.

Turkey’s leading mobile telecommunication company, Turkcell, is also a sponsor of the organization.

Detailed information on the competition can be found at www.mitefturkey.org

November 12, 2010
Finally! H&M opens up its first store in Turkey

Thousands of fashionistas welcomed the opening of the first H&M store in Istanbul, Turkey. From now on the crowd of Istanbul can find a varied and extensive range of clothes and accessories. Hennes & Mauritz AB (H&M) has arrived with fashion and quality at the best price in a full concept store of 2,300 square metres on two floors. A second store will open in Istinye Park in December.

The grand opening of the first store began with a ribbon cut by CEO Karl-Johan Persson, Country Manager in Turkey Leif Spang and Store Manager Ahu Saner. “It is a great feeling that we are finally opening here in Turkey. Your country is a dynamic and exciting market for us and we see great potential for expansion. H&M looks forward to bringing style conscious shoppers in Istanbul the inspiration to make their own personal fashion statement”, says Karl-Johan Persson, CEO of H&M.

The celebration of H&M coming to Turkey started already Thursday night with a great shopping party in the store. Mutlu Dinçkök, Ivana – Yurdal Sert, Deniz – Haluk Berdan, Eda Taspinar – Bora Kozanoglu, Bennu Gerede and her kids, Deniz Akkaya, Derin – Beliz Sariyer, Nazli Goldenberg, Süleyman Orakçioglu – Ahu Tanrikulu, Ayse Kucuroglu, Kivanç Kasabali – Sedef Avci, Naz Elmas, Atiye, Buse Terim, Ceylan Çapa – Gökhan Serter, Nazli Mengi, Sina and Özge Özpirinçci were among the names attending the party together with more than 2,000 H&M lovers from the society life, fashion, art and business world of Istanbul. In addition to this, DJ Nazli Var and Salih Saka set the inspirational atmosphere of the party.

This first store of the awaited H&M brand is placed in the most central point of Forum Istanbul, one of the biggest malls in Istanbul. It carries everything from highest fashion to basics for women, men, teen and kids.

It’s all about personal style at H&M this autumn, with knitwear, tailoring, soft volume and playful accessories allowing individual choices to shine through. It’s the sharp cut of a blazer or some salt-and-pepper wool trousers that set the powerful new tone in fashion, which is then softened either by an angora cardigan, a lace top or the frills down the front of a blouse. For men, it’s all about updating and reworking the classics to present a whole new mood. The definite silhouette of a wool or coated-cotton coat make traditional pieces feel like new, as do the key components of tailoring: the suit, the blazer, the waistcoat and trousers.

Following the first store opening in Forum Istanbul, H&M will continue its expansion in Turkey. The second H&M store will open in Istinye Park in December. During spring 2011 H&M will open stores both in Sapphire Shopping Center and Forum Marmara Shopping Center.

Hennes & Mauritz AB (H&M)

via Turkey : Finally! H&M opens up its first store in Turkey – Fashion News Turkey.

November 12, 2010
Turkey’s industrial production continues to rise in October

According to the data released by the Turkish Statistical Institute (TÜIK), in October this year Turkey’s monthly industrial production index increased by 10.4 percent year on year, while the seasonal and calendar adjusted industrial production index decreased by 0.4 percent compared to the previous month. October was the eleventh consecutive month in which a year-on-year increase was recorded.

In October, the index for the manufacture of basic metals increased by 10.85 percent year on year and was down 1.4 percent over September, while the index for the manufacture of fabricated metal products rose by 7.54 percent year on year and was down by 4.81 percent compared to the previous month.

via SteelOrbis – Turkey’s industrial production continues to rise in October.

November 12, 2010
We Have To Carefully Read Message Given By Global Crisis, Erdogan

Turkish Prime Minister Recep Tayyip Erdogan said Thursday everyone had to carefully read the message given by the recent global crisis so that a new global crisis could be avoided and countries did not get damaged.

Speaking at a round table meeting on technology and production that took place as part of the G-20 Summit in Seoul, Prime Minister Erdogan said that as countries made efforts to overcome the global crisis, the need to spare more time for social and environmental problems had become clear.

Some of the important problems in many parts of the globe are poverty, difficulty in reaching health services, high unemployment and climate change, Erdogan said.

As long as these problems are not solved, they will have an impact on all countries and cause global damage, Erdogan said.

Touching on Turkey’s experience in agriculture and technology, Erdogan said that Turkey made significant progress in agriculture thanks to technology utilized.

Turkey is about to become self-sufficient in agriculture, Erdogan added.

AA

Photos: Cihan

November 12, 2010
Mövenpick Hotel Istanbul voted world’s leading city hotel

ISTANBUL – Hürriyet Daily News

Mövenpick Hotel Istanbul, now selected the world’s leading hotel for 2010, has continuously won in the World Travel Awards for the past four years.

The Mövenpick Hotel Istanbul has been selected the world’s leading city hotel for 2010 by World Travel Awards, according to a press release.

“It is a privilege and pleasure to receive this award which reconfirms the exceptional service and experience the Mövenpick Hotel Istanbul offers guests also conclusively proves that our unique combination of Swiss attention to details complemented by the warm and friendly Turkish hospitality appeals to the most demanding travelers and discerning guests,” Mövenpick Hotels & Resorts President and Chief Executive Officer Jean Gabriel Pérès.

The hotel’s commitment to guest satisfaction, its excellent record for exceeding guest expectations and highly personalized service, hi-tech facilities and committed personnel were cited as the reasons for the award, which was presented Sunday in London at the World Travel Awards’ 17th Annual Grand Final Gala Ceremony.

The prestigious World Travel Awards are presented on the basis of independent voting by industry experts and celebrate some of the outstanding achievements of key organizations and individuals.

“One of our stated expansion objectives is to be represented in other cities in Turkey in the foreseeable future. The opening of the Mövenpick Hotel Ankara in spring 2011 completes our strategically important triangle between Istanbul, Izmir and Ankara,” Pérès said.

“Urban sophistication and business acumen is what I like to call the recipe for success that has made us winners in the World Travel Awards for the past four consecutive years. It expresses our commitment to transforming the ordinary into the extraordinary as part of a relentless pursuit of the quintessential ‘wow’ to surprise and delight our guests, as well as the stunning destination, Istanbul,” said Mövenpick Hotel Istanbul General Manager and Regional Manager Turkey Frank Reichenbach.

The award was presented to Pérès, Reichenbach and Makyol Tourism Group President Göktuğ Özdemir by World Travel Awards Global Sales & Marketing Director James Khan.

In addition to winning World the 2010 award, the hotel was also declared Europe’s leading business hotel in 2009 and Turkey’s leading business hotel in 2008 and 2007.

Mövenpick Hotels & Resorts, an upscale hotel management company with 12,000 employees, is represented by over 90 hotels in 27 countries with a concentration in its core markets of Europe, Africa, the Middle East and Asia. The international hotel group, with roots in Switzerland, is expanding and has a stated objective of increasing its hotel portfolio to 100 by the year 2010. With two hotel types, business and conference hotels, as well as holiday resorts, Mövenpick Hotels & Resorts has positioned itself in the upscale segment. The hotel group is owned by Mövenpick Holding (66.7 percent) and the Kingdom Group (33.3 percent).

November 12, 2010
Turkish Airlines looks at more expansion plans – Hurriyet Daily News and Economic Review

FADIL ALİRIZA

ISTANBUL- Hürriyet Daily News

Turkish Airlines, or THY, is continuing to post some of the best growth rates in Europe as it continues to open up new flight routes, officials with the company said Tuesday.

THY’s strength is that it can capitalize on the vital east-west flight corridor, one that accounts for 66 percent of all airplane passengers, marketing and sales specialist Aydın Özdemir said Tuesday during a tour of the firm’s facilities for passengers from the airline’s maiden Istanbul-Washington flight on Saturday.

Within the Association of European Airlines, or AEA, THY is currently showing the highest growth. Some of these numbers are a result of tourism, but much of it is the result of an increase in transit passengers from the United States and Europe continuing on to the Middle East or Central Asia.

Turkey’s geographic location has also been a boon to THY. Within two or three hours of flight time, flights from Turkey are able to reach dozens of countries, giving THY an advantage in terms of keeping their services at competitive costs, officials said.

After the attacks of Sept. 11, the entire airline industry suffered substantial setbacks, including some downsizing. Some of THY’s American routes were cancelled, including an Istanbul-Miami flight. However, THY is now in the process of reopening old routes and opening new routes to Atlanta, Los Angeles and other cities while conducting feasibility studies on cities like Boston and Chicago. THY currently flies to 12 cities in Asia, 20 in the Middle East, 14 in the former Soviet Union and 17 in Africa.

In all of these regions, the possibility of new routes is being examined, including flights to Manila and Gouzhou, officials said.

THY staged its first Istanbul-Washington flight Saturday.

Turkish Technic, a maintenance, repair and operation, or MRO, company and subsidiary of Turkish Airlines, expanded its repair operations in January with new facilities located near Sabiha Gökçen International Airport.

According to Mustafa Asıl, a marketing specialist at Turkish Technic, a new hangar will be operational near the Sabiha Gökçen Airport by September 2011, while another should be complete by the end of 2013. These operations facilities will require the hiring of another 3,000 workers.

Turkish Technic works primarily with THY. However, it is expanding its client base for “political reasons,” according to one representative, adding that the MRO was starting to work with Afghan and Iraqi partners.

Istanbul’s flight capacity increasingly limited

Representatives from Turkish Technic and THY both said Istanbul’s capacity as a flight hub was slowly becoming strained and that a third international airport would soon be needed.

“There are some slots still available at Sabiha Gökçen,” said Asıl. “In two to three years time, those slots will also be filled.”

November 12, 2010