Category: Business

Turkey-based Vestel to compete with Taiwan makers for OEM TV orders

Julian Ho, Taipei; Alex Wolfgram, DIGITIMES [Thursday 10 May 2012]

Turkey-based OEM TV maker Vestel is emerging as a strong contender to compete with Taiwan-based OEMs for orders to be released by Japan’s brand TV vendors including Sharp and Toshiba, according to industry sources.

Vestel has reportedly shipped 2.8 million OEM TVs in the first quarter of 2012 and that number may rise as orders are expected to increase from from Japanese firms during the second quarter.

Sony accounts for 53% of LCD TV orders for Taiwan manufacturers and Toshiba is expecting LCD TV shipments this year to be at 1.6 million units with Sharp at around 1.2 million units.

Digitimes Research points out, however, that at present Korean firms such as Samsung Electronics and LG Electronics will be at the forefront of this year’s TV sales with their new technology featuring smart applications such as 3D and web browsing and that Taiwan manufacturers will work closer with them in order to counterbalance increased competition.

via Turkey-based Vestel to compete with Taiwan makers for OEM TV orders.

May 11, 2012
Turkey May Use 90% of State-Land Sale Proceeds in Rebuilding

Turkey May Use 90% of State-Land Sale Proceeds in Rebuilding

By Emre Peker

Turkey’s government will use as much as 90 percent of proceeds from state-land sales to rebuild disaster areas and reconstruct apartments to withstand earthquakes, Finance Minister Mehmet Simsek said.

Turkey may raise 14.8 billion liras ($8.3 billion) if all buyers pay the money upfront, qualifying for a 20 percent discount, Simsek said. The sale of former forest land will legalize buildings that were illegally constructed there.

via Turkey May Use 90% of State-Land Sale Proceeds in Rebuilding – Bloomberg.

May 11, 2012
Barilla Sets Guinness World Record

World’s Number One Pasta Brand Now Also Has the World’s Biggest Pasta Box, Lends Support to UNICEF Education Programs

PARMA, Italy, May 10, 2012 /PRNewswire via COMTEX/ — Barilla, the world’s number one pasta brand, has captured the Guinness World Record for the biggest pasta box. Unveiled in Istanbul, the boxes weigh a half metric ton and benefit the United Nations Children’s Fund (UNICEF) to help enroll underprivileged children in preschool education programs.

“The Mediterranean diet is one of the healthiest ways to feed a family, and pasta is one of the major elements of this type of diet. Rich and balanced nutrients with a low glycemic index make pasta a healthy, delicious and affordable choice,” Gunes Karababa, Barilla’s Market Director for Turkey, Middle East and Africa, said. “All revenues from the giant pasta boxes will be donated to the United Nations Children’s Fund (UNICEF) for the education of our children.”

The box is the first in a series created in partnership with Turkish retail chain Migros Turk. They will be sold for Turkish Lira 999 (Euro 450 or $565) and displayed in 10 metropolitan and suburban Migros stores in Istanbul, along with two other venues in nearby Edirne and holiday favorite Bodrum.

About the Barilla Group

Barilla, originally established in 1877 as a bread and pasta shop in Parma, Italy, ranks as one of today’s top Italian food groups. Barilla leads in the global pasta business, the pasta sauces business in continental Europe, the bakery products business in Italy and the crispbread business in Scandinavia.

Barilla owns 43 production sites (13 in Italy and 30 outside Italy) and exports to more than 100 countries. Every year, about 2,500,000 tons of food products under the brands of Barilla, Mulino Bianco, Voiello, Pavesi, Academia Barilla, Wasa, Harrys (France and Russia), Lieken Urkorn and Golden Toast (Germany), Misko (Greece), Filiz (Turkey), Yemina and Vesta (Mexico), are featured on dining tables all over the world.

Barilla has become one of the world’s most esteemed food companies and is recognized worldwide as a symbol of Italian know-how by respecting its longstanding traditional principles and values, considering employees a fundamental asset and developing leading-edge production systems.

For more information, please visit: www.barillagroup.com

For further information:

Barilla Group Media Relations Office Luca Di Leo / Marina Morsellino T. +39 0521 262217 luca.dileo@barilla.com marina.morsellino@barilla.com

SOURCE Barilla

via Barilla Sets Guinness World Record – MarketWatch.

May 11, 2012
Donald J. Trump and Ivanka Trump Visit Istanbul to Celebrate the Opening of Highly Anticipated Trump Towers Mall

NEW YORK, May 9, 2012 /PRNewswire via COMTEX/ — Donald J. Trump and daughter Ivanka Trump visited Istanbul on Friday, April 20th to celebrate the opening of the highly anticipated Trump Towers Mall. The visit comes on the heels of the official opening one day earlier, which was attended by Prime Minister Recep Tayyip Erdogan. Differentiating itself in the sector with its concept, architecture and entertainment areas, Trump Towers Mall is the final piece to the stunning property which also consists of two towers- residential and office.

Donald and Ivanka Trump began their visit with a press conference attended by the developers of the project, Aydin Dogan, Dogan Holding’s Honorary Chairman and Mehmet Ali Yalcindag, Dogan Yayin Holding, Member of the Board as well as VIP guests and key media outlets. Speaking in sequence, Donald Trump and Ivanka Trump expressed their great pride and enthusiasm for Trump Towers Istanbul. “As the developers of Trump Towers Istanbul, Dogan Holding has delivered an incredible property. We look forward to this being the first of many world class developments undertaken together in Istanbul and throughout Turkey,” said Donald Trump.

Designed by Brigitte Weber, Trump Towers Istanbul is comprised of a 39-story, 204-unit residential tower, a 37-story, 86-unit office tower, and a seven floor retail platform, Trump Towers Mall, which is comprised of 194 units. This gorgeous property boasts spectacular views of the Bosphorus, the heart of Istanbul and historic Old Istanbul. Residents have already begun to occupy the tower and are privy to enjoy 24-hour white glove concierge service, state-of-the-art technology systems in every unit, a private lounge area with library, bar and kids club, a well-being center as well as a private wine cellar.

The office tower boasts the concept of “New Work” which was developed to combine unique attributes of the office building with white glove services and abundant amenities of the entire Trump Towers complex, creating a full lifestyle proposition. Business owners and their employees now have all of their professional and personal needs met in one central location- an unparalleled concept in Istanbul.

“At Trump Towers Istanbul the bar has been raised. With its spectacular design, world class amenities, incomparable lifestyle proposition and prime location, there is nothing like it in Istanbul,” said Donald Trump.

Consisting of five floors of shopping plus two floors dedicated to well-being and food and beverage, and totaling 43.000 square meters rentable area, Trump Towers Mall was designed by specialist retail architects, Chapman Taylor, which is one of the world leading firms in this field and blazes many trails in its sector. The “Mini Mall” floor with a 9.000 square meter area introduces a novelty in Turkey with its brands and activity areas special to children. The mall covers 141 national and foreign brands in 194 units, a fitness centre, the Trump Towers Theater where Disney Live! shows will be performed, as well as a state of the art movie theater with stadium seating.

Underlining the fact that the Trump Towers Mall is distinguished from its competitors with a unique concept, Ivanka Trump said, “One of the key differentiators of this mall is that it has a playing and recreation center, an entire floor in fact, dedicated exclusively to children. This is a concept created by the Trump Hotel Collection and exemplified by our Trump Kids program at hotel properties around the world.”

Ivanka Trump went on to say, “I was very excited when I met Mehmet Ali Yalcindag and began to discuss this project four years ago. The building is truly spectacular and one that we are very proud to have as a part of the portfolio. I hope it to be the first of many iconic projects together that will carry the Trump name.”

Trump Towers Istanbul-Sisli is not owned, developed or sold by Donald J. Trump, The Trump Organization or any of their affiliates. Ortadogu Otomotiv Ticaret A.S., is the owner and developer of the property, uses the “Trump” name and mark under license from Trump Marks Istanbul II LLC, which license may be terminated or revoked according to its terms.

SOURCE The Trump Organization

via Donald J. Trump and Ivanka Trump Visit Istanbul to Celebrate the Opening of Highly Anticipated Trump Towers Mall – MarketWatch.

May 10, 2012
Istanbul Shopping Fest woos visitors from Qatar

Istanbul Shopping Fest woos visitors from Qatar, GCC

By C P Ravindran/Istanbul

A bus and a tramway, below, decorated with the Istanbul Shopping Fest visuals

Istanbul is gearing up for its second shopping festival next month, with special packages and programmes targeting people from Qatar and other GCC countries.

With Istanbul fast becoming a favourite destination of both Qatari citizens and residents, Turkish Airlines expects a big increase in passenger traffic from Doha during the festival.

The second Istanbul Shopping Fest (ISF) will be held from June 9 to 29.

Turkish Airline’s country manager in Doha, Mehmet Kürsad Caymaz, said yesterday that there had been a steady increase in the number of holiday travellers from Qatar to Turkey in the last few years.

“The outlook is very bright,” he said. “Turkey is fast becoming one of the favourite holiday destinations of Qataris.”

Caymaz pointed to the close relations between Qatar and Turkey, saying that this had helped strengthen interaction between the people of the two countries.

Turkish Airlines operates daily flights between Doha and Istanbul. “If the current trend of rise in passengers continues, we would think of increasing the Doha-Istanbul frequencies to 10 a week,” Caymaz said.

“Special prices starting from QR1,540 plus tax are being offered to Doha passengers for round trip during the shopping festival.”

Istanbul Shopping Fest promises to offer savings of 50% or more at thousands of outlets in the city’s most famous markets, including Taksim, Nisantasi, Sisli, Bakirköy, Fatih, Bahariye, Bagdat and the Spice Bazaar.

“This festival of shopping, culture and entertainment will please its visitors with up to 50% discounts on all brands and products from technology to fashion wear,” a senior ISF official said during a briefing to a group of GCC journalists visiting Istanbul.

“During ISF, avenues and streets will be decorated with special designs and lightings to make the event a colourful experience,” said Fusun Sonmez, the festival general manager.

“The 21-day festival will feature concerts by top singers, street parties and many other entertainment programmes,” said Sonmez.

Lebanese singer Nancy Ajram will be the star attraction of performances being staged in Taksim, a commercial and cultural hub in Istanbul, during the shopping festival.

“During the festival there’ll be lots of events at various points of Istanbul, in shopping malls and stores,” said Sonmez. “Istanbul will become a major entertainment centre for 21 days.”

The first Istanbul Shopping Fest was held between March 18 and April 26 in 2011. The event was moved to June this year so that visitors could enjoy better weather.

During ISF, avenues and streets will be decorated with special designs and lightings to make the event a colourful experience

The festival, being held under the auspices of the Turkish ministry of culture and tourism, the Istanbul governor’s office and many other agencies, will include shopping until 11pm, with special discounts being offered after 10pm.

Its other attractions include free gifts, raffles and prizes including a new car every day during the festival.

Turkish Airlines is considering increasing the baggage allowance during ISF.

Istanbul is known for its handmade rugs, clothing, antiques, spices, sweets, footwear and accessories.

Foreign guests may get back part of the tax they pay for goods from stands located in shopping malls and various points of the city, officials said.

Hakan Kodal, the festival co-chair, said the turnover touched 8bn Turkish liras (around QR16.50bn) during the 2011 ISF that ran for 40 days. “The 21-day target for 2012 is 7bn Turkish liras (around QR14.50bn).”

In the 2011 ISF period, the spending turnover realised through foreign cards in 40 days touched 252mn Turkish liras.

“Our target for 2012 is to reach this figure just in 21 days,” said Kodal.

The festival which hosted 5mn visitors from Turkey and abroad last year is expected to cross that figure during its 21 days next month.

Turkish Airlines is considering increasing the baggage allowance during ISF

Turkey attracted 31.46mn tourists in 2011, an increase of almost 10% compared to the previous year. Tourist receipts amounted to more than $23bn. Earnings from tourism are expected to reach some $30bn this year.

Songs and shows

The 21-day İstanbul Shopping Fest (İSF) starts on June 8 with an opening “party” in Taksim Gezi Park Concert Area. DJ Funky C will launch the party which will then liven up with the performance of Group Model and Hadise’s songs. The French group of Zalinde will present a percussion show. The night will continue with a performance by the music group Model. Pop singer Hadise will also present a concert on the opening night. Among the other groups performing during the festival period are Tiny People, The Toy Brigade, Boblins and Curious Noses. Shopping boulevards like Taksim, Nisantasi, Sisli, Bakirkoy, Fatih, Bahariye and Bagdat Avenue will be the main centres of activities

via Gulf Times – Qatar’s top-selling English daily newspaper – Qatar.

May 10, 2012
Flow of Returning Turkish Expats Vital for Growth

ISTANBUL—There may be a rising tide of younger Turks heading back to the motherland, but one of Turkey’s most seasoned tycoons stresses that the fast-growing country also needs to lure home older talent if it is to maximize its growth spurt.

In his cavernous office overlooking Istanbul’s Bosphorus Strait, 84-year-old Ishak Alaton, chairman of Alarko Holding, one of Turkey’s biggest conglomerates, says the country’s economic resurgence has begun to attract highly skilled professionals and academics back; a prospect that could offer Turkish firms a much-needed innovation boost to help them compete on a global level.

Mr. Alaton—who along with U.S. and Scandinavian partners, has set up a Alvimedica, a Turkey-based healthcare company designing top-end catheters and stents sold across the world—is positioning himself as a spokesman for a business community seeking to attract some of Turkey’s most experienced expatriates back home.

“Let’s be frank, Turkey is not the finished article, but the economy is undeniably more solid, and people who’ve reached top-level positions abroad are thinking about coming back; they know they can live very well here, and many people who’ve made their name abroad would like to give something back to their homeland,” says Mr. Alaton, who himself briefly left Turkey to work in Sweden in the 1950s before returning to set up Alarko. “The fact is that we need them if we’re to turn this growth spurt into something more sustainable.”

Turkey’s economy has been underpinned by a tightly regulated banking sector offering record-low interest rates and surging domestic consumption. But analysts say the economy’s success as a mid-level manufacturing and product assembly hub won’t sustain the current levels of growth and rising expectations of a youthful population. In short: it needs top talent to boost innovation.

Through Alvimedica, Mr. Alaton is at the forefront of that drive. The company is located in a sprawling “techno-park” complex less than two hours from central Istanbul, which hosts research and development and manufacturing facilities.

Since its foundation in 2006, Alvimedica has attracted scores of expatriate professionals back from developed economies and is targeting a billion dollars in sales worldwide over the medium term. Almost 20% of Alvimedica’s 200 white-collar employees have returned to Turkey after education or professional experience

abroad.

Mr. Alaton’s pitch is compelling, but thus far, Alvimedica’s experience remains the exception rather than the norm.

Lingering problems frustrate efforts to lure top talent back home. In most cases, highly qualified Turks have to settle for lower salaries and the prospect of a burdensome bureaucracy that can hamper business. Mr. Alaton bemoans the fact that the government hasn’t offered incentives to tempt top talent to repatriate.

“The government has made great strides to improve our economy, but many of our successes have been despite their actions, rather than because of their help,” he says.

Alvimedica’s chief executive, Cem Boskurt, who himself returned to Turkey after a successful career as a surgeon in Germany, concedes that the firm’s experience is atypical, but stresses that it serves an example for other firms looking to attract top talent.

“We’ve worked with international partners to build a research and development center that can produce globally competitive products designed and manufactured here in Turkey,” Mr. Bozkurt said in an interview. “If we’re really going to make our mark, we need to innovate, not just assemble designs coined elsewhere.”

via Flow of Returning Turkish Expats Vital for Growth – WSJ.com.

May 10, 2012