Category: Business

  • Digiturk launches international OTT service

    Digiturk launches international OTT service

    Turkish pay TV provider Digiturk is making its DigiturkWebTV service available internationally via over-the-top TV set-tops supplied by Istanbul-based technology provider AirTies.

    Digiturk is making DigiturkWebTV’s premium content and LigTv HD available to subscribers abroad in real time, video-on-demand, and catch-up playback up to 12 hours after initial screening, enabling international subscribers to view Turkish Super League football matches, TV series and various Turkish content to suit the time zone of the country in which they live.

    The service will be delivered via AirTies Air 7120 boxes using Microsoft Playready DRM and adaptive bit-rate streaming. The Air7120 also supports internet radio, YouTube, and will support social media features including Facebook and Twitter in the near future by software updates.

    Kerem Ertan, assistant general manager of Digiturk, responsible for international sales, said: “DigiTurk works hard to deliver all its customers its premium content anytime, anywhere throughout the world with the highest quality viewing experience from TV, PC, iOS and Android smartphones and tablets. Today we are delighted to announce the newest development in this unique partnership with AirTies because it will keep expatriate Turks living abroad more connected than ever to premium Turkish content, and it allows that content to be watched on a TV screen.”

    via Digiturk launches international OTT service » Digital TV Europe.

  • Potential of trade relations between Azerbaijan and Turkey ten times higher

    Potential of trade relations between Azerbaijan and Turkey ten times higher

    Azerbaijan, Baku, Feb.4 / Trend A.Akhundov/

    Flags Turkey Azerbaijan 140910The potential of trade relations between Turkey and Azerbaijan is 10 times higher compared to the current level of trade, MP, a member of the Parliamentary Committee on Economic Policy Vahid Ahmedov said at a general meeting of the Association of Azerbaijani and Turkish Entrepreneurs (ATIB) on Saturday.

    “Turkey is the closest friend and a partner of Azerbaijan but trade between the two countries is not on the level it might be,” Ahmedov said.

    Ahmedov said, studies show that the potential for trade between the two countries amounts to $20 billion, while today it stands at about $2 billion.

    Turkish Ambassador to Azerbaijan Hulusi Kilic stressed a big role of Turkish entrepreneurs in Azerbaijan’s economy and the Azerbaijani entrepreneurs in the economy of Turkey.

    Kilic said, there are great opportunities for the further development of bilateral relations, including economic ones.

    “Turkey and Azerbaijan always support each other. The reaction of Azerbaijan to discuss of “Armenian genocide” at the French Parliament can be a good example of it,” Kilic said.

    via Potential of trade relations between Azerbaijan and Turkey ten times higher – Trend.

  • Italy’s young generation ‘forced to leave’

    Italy’s young generation ‘forced to leave’

    By Alan Johnston BBC News, Italy

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    In today’s Magazine

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    With around one in three young Italians now unemployed, many of its younger generation are contemplating emigrating to destinations as far afield as Africa and South America, in the hope of better employment prospects.

    One of Rome’s central squares is dominated by a vast monument to united Italy’s first king.

    The Altare della Patria is sometimes nicknamed “The Wedding Cake”, with its stairways and towers rising up and up, all in gleaming white marble.

    It is a rather overblown statement of national pride. But in its depths there is a place that tells the stories of those, who for one reason or another, had to leave Italy.

    This is the Emigration Museum. It is full of fading old photographs of Italians carving out new lives for themselves in Buenos Aires, or Brooklyn, or Brisbane.

    Emigration is very much part of Italy’s history but for this country’s younger generation, it is also part of the present. Many of the best and brightest young Italians talk about leaving.

    Take, for example, Sebastiano. In my first days in Rome we sat on a flight of steps, chatting in the sunshine.

    I remember asking him what journalists like me, newcomers, tended to get wrong about Italy and he said that we British were at a particular disadvantage.

    He said we came from a land of quite clear-cut politics, where the winner takes all, where coalitions are rare, and where rules tend to be enforced.

    He said I came from a black and white world, but that Italy was all shades of grey.

    Continue reading the main story

    From Our Own Correspondent

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    You could tell that Sebastiano knew and understood all those many shades and that he loved the place. But he saw no future here.

    He reckons that in Istanbul – in rising, confident Turkey – there will be possibilities that he would never find in weary Italy – immersed in its worst economic crisis for a generation.

    A few days later I met Samuelle. Clever, handsome, likeable and speaking several languages.

    You would imagine him being able to walk into jobs all over Rome. But actually, he was unemployed.

    Around one in every three young Italians is in the same position.

    I heard the other day that Samuelle has now finally managed to find a job. But it is in Quito, in Ecuador.

    And that was the thing a young guy called Vincenzo said. These days smart young Italians are not only heading for wealthier places, like Germany or Scandinavia – they are going all over the world.

    To Latin America, Africa, anywhere, if it meant being able to get away.

    Vincenzo works at a research centre at a university in Rome, where he said pretty much everyone wondered about going elsewhere, and he certainly will. He talked of a system here that is failing its youth.

    A place where opportunities depend far too much on who you know and too little on what you know.

    Like other young people I had met, he described a kind of national malaise, a lack of dynamism, openness and fairness and a strangling of potential.

    Vincenzo has spent years engaged in left-wing political activism. He has worked to try to change things here.

    But in the end, he said, “you’re forced to go away, and that’s what makes you sad”.

    He said that Rome was, as he put it “just beautiful”, but that it was impossible for him and his girlfriend to stay if they wanted to make something of their careers.

    Italy’s new government is acutely aware of the frustrations of the nation’s youth.

    Prime Minister Mario Monti talks constantly of needing to create opportunities for the youngest Italians.

    He says this is one of his major objectives as he sets about trying to restructure and re-energise the economy on a grand scale.

    So down in Naples I asked a young journalist called Francesco if he believed that things just might change now and that Mr Monti might deliver for the new generation.

    But Francesco was doubtful.

    Even if the situation was to improve, he said, it would be years before you would really notice the difference.

    Continue reading the main story

    Italy’s economic woes

    • Italy’s credit rating was cut by two levels to A- last week
    • The Bank of Italy forecasts the country’s economy will contract by up to 1.5% this year
    • The Italian government recently approved a 5.5bn euro ($7.1bn/£4.57bn) package for investment in infrastructure, such as railway lines

    And Francesco does not have time to waste. He felt that his life had stalled in Naples. The only work he could get would pay around 300 euros (£249; $393) a month. That is not even enough to pay the rent.

    Francesco was planning to head for Berlin. We talked down on the sea front, just as the sun was sinking. A calm had settled on the huge bay and as we watched, just for a few minutes, Mount Vesuvius was bathed in an extraordinary, gentle, pinkish sort of light.

    “Surely you’ll miss this when you leave?” I said.

    Francesco replied that sometimes, living here, he was so lost in his troubles that it was hard to see the best in the place.

    He said that when he was away it might be easier to really appreciate Italy and all the things that it offers, like that lovely vision of the Bay of Naples in the last of the light.

  • Istanbul’s Unprecedented Property Boom Causes Concern About Citizens’ Rights

    Istanbul’s Unprecedented Property Boom Causes Concern About Citizens’ Rights

    reuters istanbul construction 23aug11 eng 480

    Zorlu Center, under construction – a mixed use project which will include five different functions for the first time in Turkey with the culture and art center, hotel, business center, shopping center and residences – is seen in the district of Zincirlikuyu, Istanbul, August 23, 2011.

    Turkey’s economy is booming, led by construction in its largest city, Istanbul. Supported by foreign investment, city authorities are embarking on massive redevelopment. But concerns are growing that citizens’ rights have become victim to the projects.

    In the Tarlabasi district in central Istanbul, houses are being destroyed as part of a major redevelopment by local authorities. Most of the thousands of people living here have been evicted, even if they own their homes like Mehmet Tas.

    He says his children grew up in Tarlabasi, their friends are there and their school is there. Tas says if he moves from the area, he will lose his job because he will not be able to pay for his commute to work.

    Tas, like many others in the Tarlabasi district, has been offered state accommodation 40 kilometers away. The plight of the Tarlabasi residents has become a focal point of growing concern about the redevelopment of Istanbul.

    On Sunday, hundreds of people protested the redevelopment plans in Taksim square in the center of Istanbul, close to Tarlabasi.

    Although occupying a prime location, Tarlabasi is one of the city’s poorest districts. Its dilapidated but cheap housing has made it the traditional home to some of the most vulnerable sections of society.

    The mass evictions of its residents have drawn growing criticism. Andrew Gardener of the British-based human-rights group Amnesty International recently published a report strongly condemning the project.

    “Tarlabasi is a particularly outrageous example of the way urban regeneration is being carried out, resulted in people being evicted without alternative housing, adequate housing, being provided,” said Gardener. “Frequently, [the] people most at risk, as in Tarlabasi, people from Roma families, transgender women. People who find it very difficult to get accommodation in the private sector for a number [of] reasons.”

    But local Mayor Misbah Demircan strongly rejects such criticisms. He says the regeneration project is as much about helping the local residents as the city as a whole.

    He says most of the 278 buildings being razed are condemned buildings. Three days ago, he says, a building was burned down because it was so old and dangerous. The buildings are fire hazards, and some even collapse in heavy rain. He says people living there live under risk of death. There is no safety of life or property. He says authorities are offering safe and new houses in exchange.

    The new homes Demircan is referring to are state housing, most of which is located far away on the city outskirts. Critics claim most who accept such offers invariably lose their jobs, being unable to afford the commute to work, or are unable to afford the rent of the alternative housing.

    Professor Yves Cabannes of the Development Planning Unit of University College London has been studying Istanbul’s redevelopment. He says the experience of a previous redevelopment project in the city supports such concerns.

    “Three-hundred-sixty [families] were put 60 kilometers away,” said Cabannes. “Do you know how many out of the 360 are still in the blocks? Two. All the others are just roaming over the city, homeless, and our conclusion is that the renovation, which is claimed by the government, is minimum. It’s about 1 million homes, which is massive. It’s a massive project.”

    Throughout Istanbul, construction projects are speeding ahead throughout the center of the city, with the building of high-quality housing aimed at middle and upper classes. Istanbul is at the center of the country’s booming economy, which has enjoyed unprecedented growth for the past decade and continues to flourish despite the world economic turmoil.

    The city is in the grip of a property boom supported by investment from across the region from Russia to the oil-rich nations of the Middle East. Istanbul’s city skyline is cut by rising skyscrapers and construction cranes. But critics warn the people of Tarlabasi and many more of Istanbul’s poor are likely to pay a very high price for such redevelopment.

    via Istanbul’s Unprecedented Property Boom Causes Concern About Citizens’ Rights | Middle East | English.

  • Istanbul first choice for property investors as European recovery stalls

    Istanbul first choice for property investors as European recovery stalls

    Istanbul first choice for property investors as European recovery stalls

    Analysis of top property markets by PricewaterhouseCoopers finds London struggling to retain status as gold standard of real estate

    Julia Kollewe
    guardian.co.uk
    Istanbul

    Istanbul, has retained its top rank for attracting property developers and investors for the second consecutive year. Photograph Herbert Spichtinger/Corbis
    Istanbul, has retained its top rank for attracting property developers and investors for the second consecutive year. Photograph Herbert Spichtinger/Corbis

    Istanbul, Munich and Warsaw are the new hotspots for property investors and developers, as much of Europe remains mired in a vicious cycle of low or no growth, mounting debt and drastic austerity measures.

    London – usually seen as the gold standard of real estate – has lost some of its allure and is now just hanging on at the bottom of the top 10, according to a report by PricewaterhouseCoopers and the Urban Land Institute. The UK capital is regarded as “too expensive for the economic outlook” by many. But nowhere can be considered a “must buy” today, the report said, highlighting that Europe’s economic crisis has left the property sector in limbo, with fast-diminishing access to bank loans and depressed rental demand.

    “It’s going to be a volatile market across the board,” said John Forbes, real estate partner at PwC and author of the report. “Investors realised there’s no point in hanging around and waiting for an upturn because there wasn’t one coming.”

    He believes that regulatory changes forcing banks to sell off risky assets will create opportunities, in particular for equity investors less reliant on debt. Also, insurers and pension funds are beginning to step in and offer finance, although they will not be able to fully plug the gap left by banks unwilling to fund property investments.

    Istanbul held on to the top spot for new investment and development prospects for the second year running, thanks to its booming economy and youthful population. Munich, with one of the lowest unemployment rates in Germany, came second, rated for its stability, followed by Warsaw, which is rapidly becoming eastern Europe’s financial hub, boosting the city’s office sector.

    Berlin was Europe’s most attractive market for residential investment, and Stockholm, Paris, Hamburg and Zurich were favourites for investors picking safe cities. Moscow made it into the top 10 for the first time, just ahead of London.

    London fell to 10th from second place, reflecting investors’ feelings that the city is overpriced and will see very little appreciation of property values. Strong competition is another factor. “Today London is the safest of havens that there is. But once the world is again stable and everyone pulls their money back home, that’s when we will see how oversold it is,” said one interviewee.

    Paris also slipped in the survey’s rankings, but less than London because it is less reliant on banking and financial services.

    London’s prime assets still attract a lot of demand from overseas, and for the first time more than half the office buildings in the City are foreign-owned, according to a study by Development Securities. South African billionaire Nathan Kirsh acquired Tower 42 and nearby buildings for £283m in December, while Asian palm oil billionaires Kuok Khoon Hong and Martua Sitorus bought Aviva’s headquarters for £288m last June.

    Forbes said bargain hunters would turn to places like Dublin and Madrid. “You don’t make money by following the consensus.”

    He said: “Debt will be the main story of 2012. There is general pessimism regarding the availability of debt this year, and significantly, lenders are the gloomiest of all.” Just 6% of lenders believe that debt will be as available as it was last year, with 52% believing it will be substantially less.

    via Istanbul first choice for property investors as European recovery stalls | Business | guardian.co.uk.

  • If you don’t like the way big banks are run, move your money

    If you don’t like the way big banks are run, move your money

    The bankers’ pay issue is not just about Stephen Hester’s bonus at RBS. A boycott is a way of tackling the systemic problems

    John Harris

    RBS bonuses
    Focusing on RBS threatens to restrict the debate to the morals of state ownership.' Photograph: David Cheskin/PA

    Where next for the story of Stephen Hester’s bonus? On Sunday, two papers reported that the now-infamous £963,000 is only a fraction of his treasure-chest. Partly thanks to something called a “long-term incentive plan”, by this time next year he is likely to have been handed another £8m in shares, which will take his rewards since he took charge of RBS in 2008 to not far short of £40m.

    But herein lies danger. It suits the imperatives of the news media to have such a huge issue boiled down to the rewards package of one man; it’s also in the interests of the privileged people who own whole swaths of the press and broadcast media to do whatever they can to ensure that such a reductive script is followed to the letter. In that context, note the perfect role played by the RBS chairman, Sir Philip Hampton, now given temporary sainthood for turning down his bonus of £1.4m. His intervention has done its work: the issue is now in danger of becoming about matters of character and choice, rather than anything systemic.

    So, what to do? Clearly, the argument about high pay is in danger of turning cacophonous, and thereby meaningless. Canards and dead-ends abound: focusing on RBS threatens to restrict the debate to the morals of state ownership; “transparency” is a crock. Talking about “rewards for failure” nudges the issue away from basic inequality, and even limiting the conversation to the banks lets plenty of companies off the hook (witness Bart Becht, the one-time CEO of the firm that makes Cillit Bang detergent, in 2010 given a cash-and-shares package of £90m).

    Moreover, huge amounts are said, and almost still nothing done. Faced with global practices, even the most well-intentioned politicians – Ed Miliband, Vince Cable – can only try and keep the issue on the agenda in the hope that openings will eventually appear for more convincing policy.

    But Lest anyone succumb to fatalism, some interesting developments are afoot. The last two years have seen national and local campaigns in the US, encouraging people to move their cash away from big financial institutions and into small banks and local credit unions. A big fillip came with Bank Of America’s decision to charge customers a $5 monthly fee for using their debit cards – which resulted in as many people joining US credit unions in a single month as usually make the switch in a year, and played its part in that bank and others dropping the plan. The campaigns’ focus, of course, is much bigger than that – but the episode proved they were hardly wasting their time.

    That there are problems with approach is self-evident: Bank Of America has 58 million customers, whereas the campaigns were cheering about the defection of hundreds of thousands. But, in the form of the Move Your Money project and the US Move Our Money, they are still there. The former builds it activities around the recognition that “little has changed to prevent another financial crisis or to end ‘too big to fail’”, and wants to encourage people “to take power into their own hands by voting with their dollars and no longer contributing to a financial system that has led our country astray”. The latter claims it has so far deprived big banks of around $57m dollars.

    But more important than any figures is what these protests represent: a focus for outrage, as networked and agile as modern protest demands, that can keep the issues simmering away.

    This week, a British version launches, with the support of such unions as the GMB and Unite and the comparatively saintly Co-operative Group, along with some of the people involved in UK Uncut. They presumably know that the importance of high-street banking is dwarfed by the clout of the banks’ investment wings, but that doesn’t necessarily detract from the damage to their brands that can be wrought by such targeted protest.

    Cynics will scoff and claim the politics of boycotts can be just as distracting as the non-debates embraced by politicians and the press, reducible to the salving of consciences rather than any actual change. But with what is left of Occupy currently quiet and introspective, and the Hester case proving that spasms of righteousness are no substitute for the politics of the long haul, this latest move offers something very welcome: at least one means by which the arguments about the obscenities of inequality can be kept in roughly the right place.

    www.guardian.co.uk, 29 January 2012