Category: Business

Turkey will soon announce $4 billion missile defense decision

From Umit Enginsoy and Burak Ege Bekdil, Defense News: The long-range air and missile defense system, worth more than $4 billion, has attracted companies from China, Europe, Russia and the U.S. . . .

The presence of Russian and Chinese competitors for the missile system has drawn security concerns from some NATO allies.

Turkey’s Defense Industry Executive Committee will meet in early July, probably July 4, on the selections and is expected to announce decisions or at least a shorter list.

Competitors in the air and missile defense system include: U.S. partners Raytheon and Lockheed Martin, with their Patriot-based system; Eurosam with its SAMP/T Aster 30; Russia’s Rosoboronexport, marketing the country’s S-300 and S-400 systems; and China’s CPMIEC (China Precision Machinery Import and Export Corp.), offering its HQ-9.

Eurosam’s shareholders include MBDA — jointly owned by British BAE Systems, Italian Finmeccanica and pan-European EADS — and France’s Thales. These companies will work with Turkish partners. . . .

One Western expert countered: “If, say, the Chinese win the competition, their systems will be in interaction, directly or indirectly, with NATO’s intelligence systems, and this may lead to the leak of critical NATO information to the Chinese, albeit inadvertently. So this is dangerous. . . .”

This marks the first time NATO has strongly urged Turkey against choosing the non-Western systems.

“One explanation is that Turkey itself doesn’t plan to select the Chinese or Russian alternatives eventually but still is retaining them among their options to put pressure on the Americans and the Europeans to curb their prices,” the Western expert said.

Turkey’s national air and missile defense program is independent from NATO’s own plans to design, develop and build a collective missile shield. (photo: French Ministry of Defense)

via Turkey will soon announce $4 billion missile defense decision | Atlantic Council.

June 12, 2012
Turkey set to heavily invest in Somalia

Somalia’s President Sheikh Sharif Sheikh Ahmed, left, shakes hands with Turkish PM Recep Tayyip Erdogan before he addresses a conference that aims to support Somalia in a transition process, Istanbul, Turkey, June 1, 2012.

ISTANBUL — Turkey is reaching out to war-torn Somalia with a huge redevelopment effort – in Ankara’s latest effort to expand its economic and political influence in Africa and play a greater role in the international arena.

Rebuilding Somalia, bringing peace and security, and helping establish a stable government top Turkey’s list of goals in the East African nation. With its thriving economy, Ankara is also looking at future trade possibilities in the energy, construction and agricultural sectors.

Challenges

For now, Turkey is faced with a major challenge.

Somalia has not had a stable central government for two decades. The country’s United Nations-backed transitional government is fighting the Islamic extremist group al-Shabab, though pro-government forces have gained the upper hand in recent months. Also, Somalia is emerging from a major drought last year.

Turkish media have reported that Turkey is working to end the fighting. Turkish aid agencies are operating in regions controlled by the Somali government and al-Shabab. And Turkey has said it is prepared to offer training and support to Somalia’s government.

Also, Turkish engineering contractors have been in the Somali capital, Mogadishu, working to reconstruct a city left in ruins by years of fighting.

Must act now

According to Turkish Prime Minister Recep Tayyip Erdogan, now is the time to act.

“Somalian mothers and fathers are hurting, and it is possible to stop this, and Turkey is not waiting to act to help the Somalians wondering what others may think,” he said.

Turkey has made several high-profile moves as part of its commitment to Somalia.

Last year, Prime Minister Erdogan was the first Western leader in decades to visit Somalia. In March, Turkish Airlines became the first major commercial carrier to fly directly to Somalia in more than 20 years. Last week, Turkey hosted an international conference that focused on helping Somalia establish a stable government and elect a new president by August 20.

Turkish Foreign Ministry spokesman Selcuk Unal said Turkey has sent more than $50 million in humanitarian aid for the Somali people since Erdogan’s visit to Mogadishu.

“From Turkey’s point of view, since the visit of Prime Minister Erdogan to Somalia, we have collected from Turkish government funds, from the Turkish people, or from Turkish society $350 million, of which $51 million has been extended to the people of Somalia via air or by ships, humanitarian assistance material,” Unal said. “In addition, we will be continuing our reconstruction efforts on all of these issues, energy, reconstruction, transportation, those sorts of issues.”

Broader stability

To Veysel Ayhan of the Center for Middle East Peace and North Africa Studies, Turkish interest in Somalia stems mainly from the historical ties between the two nations. Turkish officials think bringing stability to Somalia will lead to stability in the broader region, Ayhan said, noting that Turkey’s efforts are part of its “soft power” politics and desire to play a huge role in the international community.

“Turkey is trying to get the attention of the international community in Somalia so that Somalia’s development would be supported by more international actors,” Ayhan said.

Foreign Ministry spokesman Unal said Turkey’s efforts are part of its growing commitment to sub-Saharan Africa.

Voice of America

June 8, 2012

via Turkey set to heavily invest in Somalia | SomalilandPress.com – Somali News in English.

June 9, 2012
Azerbaijan’s SOCAR sees $17B Turkey investments

BAKU, Azerbaijan — Azerbaijan’s state oil and gas company says it plans to invest up to $17 billion in energy projects in neighboring Turkey over the coming eight years.

SOCAR vice president Suleyman Gasimov said Thursday that investments will include $5.5 billion on a new refinery and $800 million on a power station.

Another major, still-unconfirmed goal mentioned by Gasimov is the construction of the proposed Trans-Anatolian natural gas pipeline, which Azerbaijan hopes could be used to carry gas from its Shah Deniz offshore field to Europe. Under current plans, Azerbaijan would take a lead in the project, known as TANAP, and provide several billion dollars for its completion.

SOCAR is investing aggressively overseas, in countries like Turkey and the former Soviet republics, as it tries to diversify its sources of revenue.

via Azerbaijan’s SOCAR sees $17B Turkey investments – Wire Business News – The Sacramento Bee.

June 8, 2012
Istanbul could become regular WEF host venue

ISTANBUL – Hürriyet Daily News

WEF President Klaus Schwab asks if the World Econonic Forum might be held in Istanbul on a regular basis. Prime Minister Erdoğan responds positively saying that Turkey would be pleased to host the event which draws investors and leaders.

Sabancı Holding Chairwoman Güler Sabancı says no one in Turkey should say ‘we’ve done our job and now it’s over,’ in her closing speech at the WEF. AA photo

Istanbul could become the yearly host of World Economic Forum (WEF) meetings, EU Minister Egemen Bağış has said amid an improvement of relations between the prime minister and Davos officials.

Every one or two years

“[WEF President Klaus Schwab] said he wanted to make the WEF in Istanbul a regular event and asked whether this would be appropriate and whether or not we would allow this,” Bağış told daily Hürriyet on June 6 at the end of the three-day event, noting that the WEF head was considering whether to hold the forum in the city every one or two years.

“Our prime minister said he would be very pleased to host an event that draws the world’s most important investors and leaders.”

Bağış also said Schwab had invited Prime Minister Recep Tayyip Erdoğan to return to the regular forum in Davos in 2013 and that the Turkish leader would consider the offer.

Bağış said such forums fostered investment in Turkey and that such investments spurred employment.

“Foreign businessmen are looking for an excuse to come to Istanbul.”

In his closing comments at WEF, Bağış said Turkey had become a model not only for the region, including Syria, Libya, Tunisia and Egypt, but for the West as well, including Europe and Russia. “Being a source of inspiration strengthens Turkey’s position … We hope to repeat the WEF in Istanbul. Welcome to Davos.”

Turkey to be shining example

Güler Sabancı, the chairwoman of one of Turkey’s largest family holdings, Sabancı Holding, echoed Bağış’s comments in her closing speech, saying she hoped Turkey would be a shining example for the region.

The chair, however, added that no one in Turkey should say “we’ve done our job and now it’s over.” Instead, she said Turkey needed to continue along its development path while at the same time promoting democracy, human rights and closing the gender inequality gap.

Erdoğan has not visited Davos since 2009, when he stormed out due to an argument with Israeli President Shimon Peres.

June/08/2012

via ECONOMICS – Istanbul could become regular WEF host venue.

June 8, 2012
Erdogan keynotes at WEF hosted in Istanbul

By Christopher Torchia

Associated Press

Erdogan described Turkey as “an island of stability” in a region facing difficulties.

ISTANBUL: Turkey’s leader Tuesday delivered a keynote speech at a regional meeting of the World Economic Forum, more than three years after he stormed off the stage at a previous meeting in Davos, Switzerland during a debate with the Israeli president – an event that signaled the rising profile of Turkey in its turbulent region.

Prime Minister Recep Tayyip Erdogan opened the conference in Istanbul with an address that highlighted Turkey’s development in the past decade, but also touched on the Israeli-Palestinian conflict and the way in which he said it had destabilized the region. Without mentioning Israel –onceafirmallyofTurkey– he said Palestinians suffered bombardment and mass killing and were kept in “the largest open-air prison in the world.”

As a result, Erdogan said, “The whole region is faced with a lot of anger being pumped into it.”

Palestinian President Mahmoud Abbas followed Erdogan at the podium, sharply criticizing Israel for the deadlocked peace process, and touting his administration’s efforts to lay the economic and legal foundations for a modern state.

“Today we are neither at war nor at peace [with Israel],” Abbas said. “This condition could extend for decades.”

The forum holds its main, annual meeting in Davos. Erdogan said he would not return there after the 2009 dispute with Israeli President Shimon Peres, who had passionately defended a three-week offensive against Hamas militants, launched in reaction to eight years of rocket fire aimed at Israel.

In his speech, Erdogan described Turkey, which has forced the military out of politics but still faces internal challenges such as a Kurdish rebellion, as “an island of stability in a region that is surrounded by major difficulties.”

In introductory remarks, Klaus Schwab, the head of the World Economic Forum, placed special emphasis on the Israeli-Palestinian conflict, at a time when the world is concerned about the possibility another global economic downturn.

“It’s a special pleasure to welcome you today,” he said to Erdogan before turning to the Palestinian question. “We are all very eager to hear from you. Is there any hope that this problem will be solved soon?”

Peres did not attend the Istanbul meeting. Borge Brende, a managing director of the World Economic Forum, said he was pleased to see Israeli business executives and analysts at the meeting, which is aimed at, according to a slogan, “improving the state of the world.”

“When it comes to interaction on head of government, or head of state level between Israel and Turkey, I think this is something that has to be solved and dealt with bilaterally between the two countries,” he said.

A version of this article appeared in the print edition of The Daily Star on June 06, 2012, on page 6.

via THE DAILY STAR :: Business :: International :: Erdogan keynotes at WEF hosted in Istanbul.

June 6, 2012
NY tops Brits’ holiday destination list as Istanbul surges

New York is the most enquired-about holiday destination among British buyers while Istanbul continues to see a demand surgeaccording to holiday home website holidaylettings.co.uk.

The Holiday Lettings Index has revealed the most popular holiday destinations for British tourists revealed that the most enquired about cities are New York who has an average 185 enquires per property, London who has 115, Amsterdam 101, Istanbul 84 and Rio de Janeiro 81 per year.

Holiday Lettings said that investment into new projects in Istanbul and upcoming events in Rio de Janeiro is pushing demand.

“Turkey’s capital Istanbul is now in the top five of most in demand cities, with half of all holidaymakers to the country now visiting the city in response to increased efforts by Turkish authorities to provide events, attractions and activities,” the company said.

“There’s a real buzz around the Brazilian city of Rio de Janeiro with the 2014 World Cup and the 2016 Olympics coming up, and that’s reflected in a huge rise in enquiry numbers from holidaymakers.”

via NY tops Brits’ holiday destination list as Istanbul surges.

May 23, 2012