Category: Business

  • Turkey urges EU for direct trade with Turkish Cyprus

    Turkey urges EU for direct trade with Turkish Cyprus

    ebagisTurkey’s chief negotiator in EU accession talks urged the European Parliament to approve a legislation that would allow direct trade with Turkish Cyprus.

    Turkey’s chief negotiator in country’s European Union accession talks on Wednesday urged the European Parliament to approve a legislation that would allow direct trade between EU member states and the Turkish Republic of Northern Cyprus (TRNC).

    “The moment EU vessels dock at the Turkish Cypriot ports, our ports in Turkey will open their doors to the vessels of all EU member states,” Egemen Bagis told reporters.

    The EU calls on Turkey to open its harbors and airports to all traffic from the Greek Cypriot administration in line with an additional protocol to the country’s customs union agreement.

    Turkey says it will not remove limitations on the Greek Cypriot ships unless the EU ends a similar embargo on the TRNC, as the Union pledged after Turkish Cypriots agreed to a 2004 UN-brokered plan to reunify the island.

    “The Direct Trade Regulation would also help resolve the Cyprus issue by closing the income gap between the Turkish Cypriots and the Greek Cypriots,” Bagis also said.

    AA, 29 September 2010

  • German airline fined for violating antitrust laws

    German airline fined for violating antitrust laws

    BERLIN

    condor flugzeugGermany’s antitrust agency says it has fined a subsidiary of Thomas Cook AG euro1.2 million (1.6 million) for illegally coordinating prices of flights between Germany and Turkey.

    The Federal Cartel Office said Tuesday airline Condor GmbH was fined for price coordination with its counterpart SunExpress in 2009 on routes simultaneously operated by the two companies.

    It says the two airlines agreed SunExpress would not offer flights from Germany to Turkey for less than euro99, and tickets were meant not to be more than euro10 cheaper than Condor’s.

    The office said the investigation was triggered by SunExpress, a joint venture of Deutsche Lufthansa AG and Turkish Airlines, which was not fined according to the agency’s leniency program.

    Source: Business Week

  • October issue of Global Finance | Durmus Yilmaz is one of the best central banker in the world

    October issue of Global Finance | Durmus Yilmaz is one of the best central banker in the world

    Global Finance Magazine names the World's Top Central Bankers 2010
    
    New York, September 9, 2010 - Global Finance magazine has named the
    heads of the Central Banks of six countries -- plus the European
    Central Bank president -- as the World's Best Central Bankers over the
    past year.
    
    The "Central Banker Report Card" feature, published annually by Global
    Finance since 1994, grades Central Bank Governors of 30 key countries
    (and the ECB) on an "A" to "F" scale for success in areas such as
    inflation control, economic growth goals, currency stability and
    interest rate management. ("A" represents an excellent performance
    down through "F" for outright failure.)
    
    Subjective criteria also apply. Says Global Finance Publisher Joseph
    Giarraputo, "During one of the toughest years on record, the World's
    Central Bankers were tested as never before. Every year, we try to
    assess the determination of Central Bankers to stand up to political
    interference and their efforts at forcing their governments to spend
    less, and to open their economies to foreign investment and financial
    services.
    
    For editorial information please contact: Dan Keeler, Editor, email:
    [email protected]
    
    Those scoring in the "A" category in the report published in the
    October issue of Global Finance are:
    
    Country Central Bank Governors Grade 2010
    European Union Jean-Claude Trichet A
    Australia Glenn Stevens A
    Israel Stanley Fischer A
    Malaysia Zeti Akhtar Aziz A
    South Korea Lee Seongtae A
    Taiwan Fai-Nan Perng A
    Turkey Durmus Yilmaz A
    
    CENTRAL BANKER REPORT CARDS 2010
    
    THE AMERICAS  Country
    Central Bank Governors
    Grade 2010Grade 2009
    
    Argentina  Mercedes Marcó del Pont D  N/A
    Brazil  Henrique de Campos MeirellesB+ B+
    Canada  Mark Carney B+ B
    Chile José De Gregorio B B
    Mexico Agustin Carstens B N/A
    United States Ben Bernanke C C
    
    EUROPE Country Central Bank Governors
    Grade 2010 Grade 2009
    Czech Republic  Miroslav SingerToo early to say N/A
    European Union Jean-Claude Trichet A A
    Hungary András Simor C B
    Norway Svein Gjedrem B C-
    Poland Marek Belka Too early to say N/A
    Russia Sergei M. Ignatiev B C-
    Sweden Stefan Ingves B C-
    Switzerland Philippe Hildebrand B- N/A
    Turkey Durmus Yilmaz A B
    United Kingdom Mervyn King B B
    
    ASIA
     Country Central Bank Governors
    Grade 2010 Grade 2009
    Australia Glenn StevensA A
    China Zhou Xiaochuan C C
    India Duvvuri Subbarao C B
    Indonesia Darmin Nasution D N/A
    Japan Masaaki Shirakawa C B-
    Malaysia Zeti Akhtar Aziz A A
    New Zealand Alan Bollard B C
    Philippines Amando M. Tetangco Jr. B B
    Singapore Heng Swee Keat B B
    South Korea Kim Choong Soo Too early to say N/A
    Taiwan Fai-Nan Perng A A
    Thailand Tarisa Watanagase B C
    
    AFRICA & THE MIDDLE EAST Country Central Bank Governors
    Grade 2010 Grade 2009
    Israel Stanley Fischer AA
    
    Saudi Arabia Muhammad Al-Jasser B C
    South Africa Gill Marcus B N/A
    
    

  • Global Finance Magazine names the World’s Top Central Bankers 2010

    Global Finance Magazine names the World’s Top Central Bankers 2010

    New York, September 9, 2010 – Global Finance magazine has named the
    heads of the Central Banks of six countries — plus the European
    Central Bank president — as the World’s Best Central Bankers over the
    past year.

    The “Central Banker Report Card” feature, published annually by Global
    Finance since 1994, grades Central Bank Governors of 30 key countries
    (and the ECB) on an “A” to “F” scale for success in areas such as
    inflation control, economic growth goals, currency stability and
    interest rate management. (“A” represents an excellent performance
    down through “F” for outright failure.)

    Subjective criteria also apply. Says Global Finance Publisher Joseph
    Giarraputo, “During one of the toughest years on record, the World’s
    Central Bankers were tested as never before. Every year, we try to
    assess the determination of Central Bankers to stand up to political
    interference and their efforts at forcing their governments to spend
    less, and to open their economies to foreign investment and financial
    services.

    For editorial information please contact:  Dan Keeler, Editor, email:
    [email protected]

    Those scoring in the “A” category in the report published in the
    October issue of Global Finance are:

    Country Central Bank Governors Grade 2010
    European Union Jean-Claude Trichet A
    Australia Glenn Stevens A
    Israel Stanley Fischer A
    Malaysia Zeti Akhtar Aziz A
    South Korea Lee Seongtae A
    Taiwan Fai-Nan Perng A
    Turkey Durmus Yilmaz A

    CENTRAL BANKER REPORT CARDS 2010

    THE AMERICAS  Country
    Central Bank Governors
    Grade 2010Grade 2009

    Argentina  Mercedes Marcó del Pont D  N/A
    Brazil  Henrique de Campos MeirellesB+ B+
    Canada  Mark Carney B+ B
    Chile José De Gregorio B B
    Mexico Agustin Carstens B N/A
    United States Ben Bernanke C C

    EUROPE Country Central Bank Governors
    Grade 2010 Grade 2009
    Czech Republic  Miroslav SingerToo early to say N/A
    European Union Jean-Claude Trichet A A
    Hungary András Simor C B
    Norway Svein Gjedrem B C-
    Poland Marek Belka Too early to say N/A
    Russia Sergei M. Ignatiev B C-
    Sweden Stefan Ingves B C-
    Switzerland Philippe Hildebrand B- N/A
    Turkey Durmus Yilmaz A B
    United Kingdom Mervyn King B B

    ASIA
    Country Central Bank Governors
    Grade 2010 Grade 2009
    Australia Glenn StevensA A
    China Zhou Xiaochuan C C
    India Duvvuri Subbarao C B
    Indonesia Darmin Nasution D N/A
    Japan Masaaki Shirakawa C B-
    Malaysia Zeti Akhtar Aziz A A
    New Zealand Alan Bollard B C
    Philippines Amando M. Tetangco Jr. B B
    Singapore Heng Swee Keat B B
    South Korea Kim Choong Soo Too early to say N/A
    Taiwan Fai-Nan Perng A A
    Thailand Tarisa Watanagase B C

    AFRICA & THE MIDDLE EAST Country Central Bank Governors
    Grade 2010 Grade 2009
    Israel Stanley Fischer AA

    Saudi Arabia Muhammad Al-Jasser B C
    South Africa Gill Marcus B N/A

    gfmag.com, September 9, 2010

  • Four in Middle East to open free trade

    Four in Middle East to open free trade

    Davud Oglu Leads The WayNEW YORK, Sept. 27 (UPI) — Turkish Foreign Minister Ahmet Davutoglu said Jordan, Syria, Lebanon and Turkey had agreed to move forward on a regional free-trade zone.

    Davutoglu told reporters in New York that a summit meeting in Istanbul would likely concluded with an announcement that the four-country trade agreement, including “visa-free” travel for the region, would begin in January.

    “We will declare at that summit that this economic zone is in effect,” Davutoglu said after meeting with foreign ministers of Jordan, Syria and Lebanon at U.N. Headquarters, Today’s Zaman reported.

    Turkey and Lebanon have already entered into a formal free-trade and visa-free arrangement with a deal signed this summer.

    But the deal may well be a first step towards a Middle East version of the European Union, Today’s Zaman reported.

    Turkey has been openly pursuing membership to the EU since 2005, but the application process has moved slowly.

    In New York, Davutoglu said, “The EU is of course a good model of cooperation and we can look into it. But this cooperation, after all, is a product of our history.”

    https://www.upi.com/Business_News/2010/09/27/Four-in-Middle-East-to-open-free-trade/UPI-79101285623196/, Sept. 27, 2010


  • Google Acquires Israeli Company

    Google Acquires Israeli Company

    by Elad Benari

    Google announced on Tuesday that it has acquired Quiksee, an Israeli-based company which develops interactive video mapping technologies based on user-filmed videos.

    Founded in 2007 by CEO Gadi Royz, VP R&D Rony Amira, CTO Assaf Harel, and Pavel Yosifovich, Quiksee’s software allows Internet users to turn a simple video clip into an interactive video clip. Its users can photograph any location where they are with a digital camera or mobile device, and then upload the file to Google Maps. The clip thus becomes interactive, allowing people to wander through and get a seemingly real visit experience, without physically being there.

    A report in TheMarker financial newspaper on Monday estimated that the deal was worth $10 million. A spokeswoman for Google told Reuters on Tuesday that it was a “small deal” and did not provide exact figures.

    In an announcement on its website, Quiksee said: “We are delighted to announce that Quiksee has been acquired by Google! We’ve learned a lot from our previous work at Quiksee, and we look forward to bringing our experience, creativity and insight to Google. Both Google and Quiksee share the same innovative vision…we look forward to the opportunity to contribute and do great things together in the future.”

    According to TheMarker, Google sees Quiksee’s technology as “the missing link” in its Street View service which allows users to view photographs of streets around the world.

    Quiksee is Google’s second acquisition in Israel in six months. In April, it acquired web gadgets provider LabPixies for an estimated $25 million. LabPixies specializes in personalized websites and mobile gadgets such as calendars, checklists, games, and news and weather feeds.

    Google Israel’s development center managing director Yossi Matias, said in a statement that Google was committed to continue investing in Israel “both by expanding and deepening our activity as well as by continuing to strengthen our collaboration with companies and start-ups in Israel.”

    (IsraelNationalNews.com)

    Related Links:

    • ►Google Goes With Palestinian Authority
    • ►Google Defines Samaria as ‘Palestinian Territory’

    , 15.09.2010