Category: Business

Anti-Piracy Efforts, Turkey, Web TV to Boost Middle East Pay TV Business

The number of pay TV homes in the Mideast and North Africa will double to 16 million by 2018, with revenue set to jump 42 percent, according to a forecast.

LONDON – The number of pay TV households and pay TV revenue in the Middle East and North Africa will see strong growth through 2018, according to a new forecast from research firm Digital TV Research.

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The third edition of its Digital TV Middle East and North Africa report cited growth in Turkey and measures to combat piracy as key drivers.

As of the end of 2012, fewer than 15 percent of TV homes in the region legitimately paid for TV signals, according to its data. But this will climb to 21.6 percent by 2018, the firm estimated.

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“Legitimate pay TV revenues [for the 16 countries covered in the report] will grow by more than 42 percent between 2012 and 2018 to $4.76 billion,” study author Simon Murray said. Turkey accounts for more than half of the total.

The number of pay TV households in the region will double to 16 million between 2011 and 2018, he projected.

Internet-delivered TV services will also be a key growth driver. The number of homes paying for IPTV services will overtake cable subscribers in 2016, led by gains in Turkey and Egypt, the study predicted. But penetration of IPTV will be higher in such countries as the United Arab Emirates (46 percent), Qatar (37 percent) and Cyprus (32 percent).

Overall, IPTV revenue will more than quadruple between 2012 and 2018 to $644 million.

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Murray said that the Digital TV Research forecasts are based on the 16 most advanced countries — with 67 million TV households — in the broader Middle East and North Africa region. However, there are 104 million TV homes across 31 countries in the whole region, and that figure will jump to 115 million by 2017, he estimated.

“Major countries outside those that we have undertaken full forecasts for — that have longer-term potential — include Iran (11 million TV households), Afghanistan (4.4 million TV households), Iraq (4.8 million TV households) and Uzbekistan (4.1 million TV households),” the report said.

via Anti-Piracy Efforts, Turkey, Web TV to Boost Middle East Pay TV Business – The Hollywood Reporter.

March 7, 2013
Turkish Airlines strengthen GCC tourist arrivals with new ‘Winter in Turkey’ campaign

Turkish Airlines, the national carrier of Turkey and Europe’s best airline, is promoting the country’s diverse cultural wonders, exhilarating winter activities and enriching holiday experiences as part of its ‘Winter In Turkey’ campaign, offering tourists competitive prices and promotions to one of the world’s fastest growing tourist destinations.

Building on its credentials as the world’s fastest growing airline, Turkish Airlines has a growing network across the Middle East, which now provides access to over 200 destinations worldwide. The heightened popularity of Turkey as an all-round holiday destination is further complemented by the award winning service and competitively priced flights of Turkish Airlines, whether for a holiday trip or stop-over in Istanbul for beyond destination travel.

The number of tourists travelling to Turkey from the GCC region have increased dramatically in the last few years, with a growth of over 370% from the UAE and almost 600% from Qatar comparing August 2011 to August 2012 figures, all contributing to over 31 million foreign tourists to the country in 2012.

Turkish Airlines President and CEO, Temel Kotil, Ph.D said: “As the national carrier of Turkey, we are delighted with the growing popularity of Turkey as a preferred tourism destination for visitors from around the world, including the GCC region. Turkey’s spectacular cultural blend of Eastern and Western influences and cultural linkages with the Middle East make the country a popular destination amongst GCC tourists.

“With Istanbul less than five hours away from the Gulf Region, and the country offering access to winter sports for almost half the year, we are confident passenger number will increase with the launch of our new ‘Winter in Turkey’ campaign.”

The ‘Turkey in Winter’ campaign, running until March, highlights the country’s seasonal offering, as a playground for exhilarating sports with over 20 skiing destinations, as well as the enriching cultural experiences in Istanbul and historical cities, delectable culinary delights and stunning natural scenery.

The ski slopes in the country are set to international standards and host competitions including the upcoming World Youth Snow-Board championships from March 1-11 in Erzurum. For those seeking relaxation, there is an abundance of thermal spas in world-famed areas like Pamukkale and Sandikli.

In 2013, the number of beds in ski resorts is set to grow by 60,000 to accommodate for the soaring popularity of winter tourism in the country. In resorts like Erciyes, where occupancy rates have approached 100%, construction of 21 hotels is due to begin this year. According to the Kayseri Tourism Master Plan, the 275 million Euro investment is expected to provide 5,000 additional hotel rooms, setting Erciyes as one of the best mountain and winter sports resorts in the Middle East and Balkans.

Bursa, a key winter destination nestled in the northwest of Turkey and the erstwhile capital of the Ottoman Empire, is famed for Mount Uludag and an expansive ski resort which combines traditional elements of chic alpine chalets and log fires, with fine dining, five star hospitality and relaxing spa facilities.

Mr. Sahabettin Harput, Governor of Bursa, said: “Bursa is regarded as a pioneer of winter tourism in Turkey because of its traditional approach to Alpine hospitality. The city’s rich historical relevance pays homage to the opulence of the Ottoman Empire and provides tourists with the ultimate winter holiday destination.”

Whether traversing the snow-capped mountains of Bursa or marvelling at the historical sites of Istanbul, Turkish Airlines, as Europe’s Best Airline, offers affordable luxury for the journey. Its Miles & Smiles loyalty programme rewards frequent flyers; Wingo promotions provide competitively priced tickets; and guests travelling business class can enjoy Europe’s largest CIP lounge in Istanbul.

Building on its credentials as the world’s fastest growing airline, Turkish Airlines has a growing network across the Middle East, which now provides access to over 200 destinations worldwide.

via Turkish Airlines strengthen GCC tourist arrivals with new ‘Winter in Turkey’ campaign | Turkish Airlines | AMEinfo.com.

March 7, 2013
Turkey: Migros opens 8 new stores in February

Turkey: Migros opens 8 new stores in February

Migros opened eight new stores in Turkey in February 2013. Six of the new stores were opened under the Migros banner and two under the Tansas banner. The company opened eleven stores in the same month last year.

With the addition of the February figures, Migros’ year to date new store openings has reached 27. On the other hand, with the deduction of closures (i.e. 10 stores), this means the company’s net additions to its store portfolio in the first two months of 2013 is 17. We expect the company to enlarge its store portfolio in full year 2013 with 100 net new additions and the first two months’ data are in line with our expectations. The news is likely to have no material impact on the share performance.

Source: balkans.com

March 7, 2013
Anatolia Energy intersects high grade uranium at Turkey project – Proactiveinvestors (AU)

Anatolia Energy intersects high grade uranium at Turkey project

Monday, March 04, 2013 by Proactive Investors

Anatolia Energy (ASX:AEK) has intersected high grade uranium of up to 1,150 ppm eU3O8 at its Temrezli deposit in Turkey.

Results from six drill holes included intercepts of up to 1.7 metres at 790 parts per million eU3O8; 2.7 metres at 820 ppm eU3O8 and 3.7 metres at 560 ppm eU3O8.

The six drill holes were drilled within a 10 metres radium of one another and displayed strong ore continuity, which is similar to the widths and grades recorded at a enarby drill hole by the Turkey General Directorate of Mineral Research and Exploration.

Rotary and diamond drilling at the Temrezli uranium deposit was undertaken for hydrological testing of the regional ground water and the confined ground waters of the aquifer which hosts the uranium mineralisation.

The results are positive for the company to prepare a scoping study for the Temrezli prospect in Central Turkey.

Anatolia has a direct 35% interest and an indirect interest of 17% for a combined interest of 52% in Anatolia Uranium.

The rest of the shareholding is owned by Vetter Uranium, in which Anatolia is the largest shareholder with a 26.1% equity stake.

Under the terms of the Farm-In Joint Venture Agreement, Anatolia has the right to acquire up to a 75% interest in AUL by spending A$15 million in two A$7.5 million tranches on the Project.

If Vetter elects not to contribute any further expenditure towards developing the joint venture, Anatolia has the right to acquire up to 100% of the joint venture and pay Vetter a royalty fee once production commences.

The uranium project is located within one of Turkey’s key uranium regions, is close to established infrastructure and includes the Temrezli uranium deposit, one of Turkey’s largest and highest grade uranium deposits.

The deposit has a JORC compliant Mineral Resource Estimate of 17.41 million pounds of contained uranium at a grade of 1,170ppm (0.117%) eU3O8.

Anatolia had a cash balance of $2.29 million at the end of last quarter.

via Anatolia Energy intersects high grade uranium at Turkey project – Proactiveinvestors (AU).

March 5, 2013
Turkey signs cooperation protocol with Islamic bank

Turkey on Saturday signed a memorandum of understanding with the Islamic Development Bank (IDB), Anadolu Agency reported.

The MoU was signed by Turkish Economy Minister Zafer Caglayan and Ahmed Mohammed Ali Al-Madani, IDB’s president in Jeddah, Saudi Arabia.

The deal seeks to boost trade and investment between Turkey and and the members of the Islamic Development Bank.

via Turkey signs cooperation protocol with Islamic bank – Trend.Az.

March 5, 2013
Billionaire Seeks Sukuk for Istanbul Finance Hub: Turkey Credit

Agaoglu Group, a Turkish company with interests in the building industry, energy and tourism, plans to raise $2 billion in Islamic debt to finance the construction of Istanbul’s financial district.

The company hired investment bank Aktif Bank to manage the sale in April, Agaoglu Chairman Ali Agaoglu said in an interview yesterday in Dubai, where he opened an office to lure Persian Gulf wealth to Turkey’s construction industry. The fundraising would also include Murabaha facilities, he said.
Skyscrapers stand on the horizon beyond residential properties in the Mecidiyekoy district of Istanbul. Agaoglu Group plans to build infrastructure, excavation, roads, parks, a metro station and landscaping of the Istanbul International Financial Center, according to a statement on Nov. 2.
Skyscrapers stand on the horizon beyond residential properties in the Mecidiyekoy district of Istanbul. Agaoglu Group plans to build infrastructure, excavation, roads, parks, a metro station and landscaping of the Istanbul International Financial Center, according to a statement on Nov. 2. Photographer: Kerem Uzel/Bloomberg

The sale seeks to tap demand for Shariah-compliant debt in the six-nation Gulf Cooperation Council, where borrowers raised a record $21 billion last year as yields dropped, according to data compiled by Bloomberg. The Turkish government raised $1.5 billion from its debut Sukuk sale last year, setting a benchmark for corporate issuers to follow.

“In order for us to issue those financial instruments we need again to turn our eyes to the Gulf market because this is where we will market those instruments,” Agaoglu said through an interpreter.

The yield on the 2.803 percent government notes due 2018 fell 13 basis points, or 0.13 percentage point, last week to 2.91 percent, data compiled by Bloomberg show. That compares with a five basis-point drop on GCC notes to 2.94 percent, according to the HSBC/NASDAQ Dubai GCC US Dollar Sukuk Index.

Regional Status

The Istanbul International Financial Center is part of Prime Minister Recep Tayyip Erdogan’s plan to boost Turkey’s regional status and make the economy one of the world’s 10 biggest by 2023. Construction has already begun on the Asian coast of Istanbul, a city of 13 million, in the Atasehir district. Agaoglu said in November it made the highest bid to build the center.

The company plans to build infrastructure, excavation, roads, parks, a metro station and landscaping, according to a statement on Nov. 2. Construction also includes a 2,500-person conference center, shopping mall and a hotel.

Mizuho Financial Group Inc. (8411) and Mitsubishi Corp. (8058) of Japan, OAO Sberbank (SBER) of Russia and Kuwait’s Burgan Bank SAK bought Turkish firms or opened offices in the city last year, joining such powerhouses as Citigroup Inc. and HSBC Holdings Plc.

‘Old Friends’

Agaoglu, with a $2.1 billion fortune according to Forbes magazine, said his company aims to capitalize on Erdogan’s policies that seek warmer ties with the Arab world as the country’s aspirations to join the European Union fade. Through the Dubai office, Agaoglu aims to attract investors to Turkey after the government eased restrictions on foreigners buying property.

“Thanks to the policies of the new government, we have turned our eyes to our old allies, our old friends with whom we have historical and religious relations, instead of turning our face to the West,” he said.

Turkey’s economy, the biggest in eastern Europe and the Middle East after Russia, may expand 4 percent this year after growing 2.7 percent in 2012, according to the median estimate of 28 economists on Bloomberg. The country is rated BBB- at Fitch Ratings, the lowest investment grade.

Yields on Turkey’s two-year benchmark lira debt have dropped 43 basis points this year to 5.75 percent, extending their 12-month decline to 350 basis points, the biggest in emerging markets.

The extra yield investors demand to hold Turkey’s dollar debt over U.S. Treasuries rose one basis point to 206 at 10:55 a.m. in Istanbul, according to JPMorgan Chase & Co.’s EMBI Global Diversified Index. Turkey’s spread is 79 basis points below the average for emerging markets, and 229 basis points below the average for countries in the Middle East, according to JPMorgan’s indexes.

‘Same Religion’

Gulf nationals from countries including Kuwait, Saudi Arabia and Yemen bought more than 1,000 residential units in Turkey since May, Agaoglu said. “The prices are quite affordable,” he said.

The Dubai office will also seek partnerships with funds in the region for development projects in Istanbul, including a tunnel under the Bosphorus. Rail projects in the city, excluding the $4.1 billion tunnel, will cost about $5 billion through 2016, Dursun Balcioglu, head of municipal rail systems, said in November.

“The Arabs in the Gulf countries have high interest in Turkey,” Agaoglu said. “We share the same culture, same cuisine, same entertainment culture. Most importantly we share the same religion.”

via Billionaire Seeks Sukuk for Istanbul Finance Hub: Turkey Credit – Bloomberg.

March 5, 2013