Category: Asia and Pacific

Japanese firm moves six plants to Istanbul

A Japanese company has decided to move six plants from Belgium to Istanbul, attracted by the recent economic growth and business-friendly environment in Turkey, Turkish Trade Minister Zafer Çağlayan said at a recent meeting.

Japanese group Mayekawa, one of the world’s leading cooling systems manufacturers in the food, dairy, marine, oil and gas sectors are planning to set up new plants in Turkey because of the great investment potential in Turkey, Çağlayan said at a Turkish- Japanese Business Council meeting Thursday.

He called on other Japanese investors to follow suit, saying manufacturing in Turkey is “much more affordable and profitable” compared to Europe.

“Mayekawa MGT has decided to invest in one of the industrial zones in Istanbul,” said Cemal Yılmaz, general manager of Frigo Mekanik A.Ş, a Turkish Mayekawa retailer.

The company is preparing to shift all its operations to Turkey to manufacture freezing and compression technologies in Turkey, rather than Belgium. Mayekawa is considered one of the largest oil-flooded screw compressor manufacturers in the world and currently maintains operations in Tokyo, Los Angeles and Brussels.

Due to the low cost of production and labor in Turkey the company decided to leave Belgium and direct its new investments to Istanbul, Yılmaz said, although he did not disclose the amount the company planned to invest. “Frigo will remain the primary retailer of Mayekawa products in Turkey,” he said.

Mayekawa Director Tetsuro Shigeoka, CEO Toshio Yagitani, General Manager Shinichi Itou held private talks with Çağlayan to discuss the details and conditions of the Istanbul investment.

Mayekawa currently operates manufacturing facilities in Japan, Belgium, the United States, Brazil, Mexico and South Korea.

November 26, 2010
Istanbul Hosting News Agencies Meetings, Starts with OANA

Istanbul -The Turkish capital is hosting meetings of news agencies, on the sidelines of its activities celebrating its choice as 2010 European Capital of Culture, organized by Anadolu News Agency.

The first of the meetings, which last till November 27, was of the Executive Board of the Organization of Asia-Pacific News Agencies, OANA, where discussions touch on means of and possibilities for improving quality of product of news agencies.

This meeting would be officially inaugurated by State Minister and Deputy Prime Minister Bulent Arinc Friday, and Anadolu Chairman Hilmi Bengi is to address the attendees.

In cooperation with French News Agency AFP, Anadolu is to open a joint photo exhibition under the theme “Istanbul in Photo Reporters’ Perspectives”, hosted at the French Consulate General.

The exhibition comes as the agency marks the 90th anniversary of its foundation.

QNA

The Peninsula

November 25, 2010
The War You Don’t See, a film by John Pilger

This is a remarkable documentary in which the winner of journalism’s top awards for both press and broadcasting, including academy awards in the UK and US television, John Pilger, himself a renowned war reporter, questions the role the media in war. The War You Don’t See asks whether mainstream news has become an integral part of war-making.

Focusing on the current conflicts in Afghanistan and Iraq, Pilger reflects on the history of the relationship between the media and government in times of conflict stretching back to World War I and explores the impact on the information fed to the public of the modern day practice of public relations in the guise of ’embedding’ journalists with the military.

Featuring interviews with senior figures at major UK broadcasters, the BBC and ITV, and high profile journalists on both sides of the Atlantic, including Rageh Omaar and Dan Rather, the film investigates the reporting of government claims that Iraq harboured weapons of mass destruction.

November 25, 2010
Talks Begin With Japan For Nuclear Power Plant In Turkey

Turkish Energy & Natural Resources Minister Taner Yildiz said that talks began with Japan regarding the nuclear power plant which would be constructed in Turkey.

Holding a press conference in Istanbul on Wednesday, Yildiz spoke positively about the course of talks with Japan on a second nuclear power plant planned to be constructed in Turkey’s Black Sea province of Sinop.

Earlier this month, talks between Turkey and South Korea regarding the construction of nuclear power plant had failed. Also, under a separate agreement, Russia will build Turkey’s first nuclear plant on the country’s southern coast.

Also commenting on reactions against hydroelectric power plants, Yildiz said that every country had to provide energy production with its own resources.

The important thing is to pursue our determination in energy investments, said Yildiz, adding that they had to benefit from water, wind and geothermal for energy.

Regarding natural gas, Yildiz said that he spoke with Russian Deputy Premier Igor Sechin on the phone yesterday, and invited him in Turkey. He added that they could hold a meeting in Turkey next month.

Efforts are under way to evaluate 36 cubic meters of natural gas –which Turkey imports– under more appropriate conditions, he noted.

AA

November 25, 2010
George Friedman: Keep Armenia Isolated

Head of the US analytical center STRATFOR George Friedman made quite curious statements in his interview with Turkish ATV and Sabah newspaper.

Sabah newspaper reports that general director and founder of STRATFOR George Friedman has come to a conclusion that the normalization of the Armenian-Turkish rapprochement can be effective only in case Russian troops are withdrawn from Armenia, otherwise this process will be of no importance.

“Turkey should speak to Armenia not of Nagorno Karabakh. It should discuss reducing Russia’s role in this country. The presence of Russian troops in Armenia does not meet Turkey’s interests. In such conditions, the opening of borders with Armenia is of no use for Turkey, on the contrary, it may spoil its relations with Azerbaijan. So keep Armenia isolated in this case”, Friedman said.

Meanwhile, Friedman compared the current power of Turkey with the US power in 1930-1940’s.

“Turkey has strength but no structures, which could direct this strength. This is what Turkey should ponder over”, he said.

1news.az

November 25, 2010
Brisa Looks for India, Turkey Highway Chances After Brazil Exit

Brisa-Auto Estradas de Portugal SA, Portugal’s biggest toll-road company, is looking for opportunities to expand in India and Turkey after selling its stake in Cia. de Concessoes Rodoviarias SA, Brazil’s biggest toll-road operator.

“After selling CCR, Brisa’s portfolio is very unbalanced,” Chief Executive Officer Vasco de Mello said at a presentation to investors, according to a regulatory filing posted on the website of the country’s securities markets watchdog. “Too much concentrated in Portugal.”

The company, based near Lisbon, plans to bid for a contract to operate and manage a highway in Mumbai, and sees opportunities in the privatization of motorways and Bosphorus bridges in Turkey. Brisa has already sold 9.4 percent of CCR and plans to sell the remaining 7 percent by the end of the year.

Brisa is facing sluggish growth in Portugal as the country’s austerity measures to curb the budget deficit choke consumer demand. The company predicts higher toll revenue next year as drivers must now pay to use some competing highways that were formerly toll-free, and Brisa’s own tolls rising 0.6 percent.

The company expects to invest between 200 million euros ($273 million) and 300 million euros in new business opportunities, according to the filing. Average annual capital spending on Portuguese highway projects for 2011 through 2015 will be 95 million euros, dropping to 65 million euros from 2016, it said.

Toll Machines

Brisa predicts operating costs will be unchanged in 2011, after dropping 4 percent this year, more than the 3 percent initially forecast. The company expects additional costs from the opening of new highways to be offset by savings from the introduction of cash and card toll machines on Portuguese highways, forecast to total 3.5 million euros from 2011.

The company will complete its corporate reorganization by the end of the year, creating a holding company that will control its three business areas. Brisa said it will finish this year with net debt of 2.3 billion euros and has “no major short-term” refinancing needs.

Brisa plans to pay a 31 euro-cent dividend to shareholders for the next five years and is considering a share buyback to bring its holding up to 10 percent, including 4 percent the company already owns.

To contact the reporter on this story: Anabela Reis in Lisbon at areis1@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

via Brisa Looks for India, Turkey Highway Chances After Brazil Exit – Bloomberg.

November 23, 2010