Category: Asia and Pacific

  • Why GMR Infra is keen to sell shares in airport biz

    Why GMR Infra is keen to sell shares in airport biz

    Moneycontrol Bureau

    indira_gandhi_international_airport_190GMR Infrastructure  is likely to sell shares in a public offer for its airport division. The firm that runs Delhi and Hyderabad airports along with an international airport in Istanbul, has debt of around Rs 4,000 crore in the vertical.

    The company is looking at raising around Rs 2,000 crore to boost expansion and help a clutch of private equity investors to sell shares in the company, says an Economic Times report quoting sources. The firm is working out size and other details related to the potential IPO.

    The report further says that the listing is mainly to help investors exit as the company does not have immediate fund requirement. Private equity firms together own around 21 percent stake in the company.

    Laden with over Rs 30,000 crore debt, GMR  has adopted asset-light asset- right’ strategy by which it will offload stake in its power, road and airport projects and re-deploy proceed from stake sale in new projects. This approach will also help it clean balance sheet

    Last month, the company sold 70 percent stake in an energy venture in Singapore and this helped the company reduce debt by over Rs 2,000 crore.

    Even GMR’s competitor, GVK Power and Infra has in recent past said that it will sell stake in business division to ease liquidity pressures. The firm has a debt of around Rs 16,000 crore with an over Rs 500 crore annual interest outgo.

    Considering the fact that the GMR and GVK, both have undertaken big ticket and long gestation projects in all their business verticals, such debt levels is not abnormal, say analysts. GVK is also looking to offlad stake in airport vertical at an appropriate time.

    via Why GMR Infra is keen to sell shares in airport biz – Moneycontrol.com.

  • Armenian NGOs against the moving of UN regional offices to Istanbul

    Armenian NGOs against the moving of UN regional offices to Istanbul

    Anna Nazaryan

    “Radiolur”

    Turkey is trying to affect the UN decisions and spares no financial means to transfer the UN regional offices to Istanbul. A number of Armenian NGOs assess this as a political step and are concerned with the initiative, which is a violation of the fundamental principles and objectives of the UN, particularly some points of the UN Charter.

    The Armenian NGOs have addressed a letter to UN Secretary General Ban Ki-Moon. A few days ago they applied to the visiting Deputy Prime Minister of Slovenia, urging the EU to give assessment to the issue.

    Another letter has been prepared in cooperation with representatives of the National Assembly and the Ministry of Foreign Affairs, member of the Public Council, President of the Association for Stable Human Development Karine Danielyan told reporters today. Everything should be done to prevent the transfer of UN regional offices to Istanbul.

    Head of the  Center for the Development of Civil Society Svetlana Aslanyan added that other countries also stand against the initiative.

    Former Human Rights Defender Larisa Alaverdyan said the intention to move UN regional offices to Istanbul pursues political purposes, although it is said that the initiative aims to eliminate the technical obstacles and settle the financial issues.

    Turkey is rather generous unlike many other UN member states, and most probably, this has served as a ground for the move of UN offices to Istanbul, Larisa Alaverdyan said.

    Turkey will thus have an opportunity to influence UN decisions, which does not meet Armenia’s interests, the ex-Ombudswoman said.

    How can a country that has committed genocide try to convince the world of its humanism? Ethnographer Hranush Kharatyan believes the world should know that the Ottoman Empire is a ‘genocidal country.’

    Greece has officially declared it stands against the intention to move US regional offices to Istanbul. It’s time for Armenia to do the same, she said.

    via Armenian NGOs against the moving of UN regional offices to Istanbul | Public Radio of Armenia.

  • U.S. Embassy in Ankara, synagogue in Istanbul alleged al-Qaida targets

    U.S. Embassy in Ankara, synagogue in Istanbul alleged al-Qaida targets

    ISTANBUL, Turkey, April 12 (UPI) — The U.S. Embassy in Ankara was targeted to be bombed by an alleged Turkish al-Qaida cell whose members were trained in Afghanistan, Turkish police said.

    Police seized nearly 50 pounds of plastic explosives with detonation systems attached, along with 10 rifles and guns, six laptop computers and other evidence, police said.

    Twelve people — two Chechens, two Azerbaijanis and eight Turks — were arrested in two raids, police said.

    The raids — which occurred in February but were only now reported — occurred in the northwestern city of Tekirdag and Istanbul, police said.

    All 12 people were believed to be members of al-Qaida terrorist cells, the Dogan News Agency said.

    The U.S. Embassy issued a travel warning at the time but said police had provided no specific threat information about the targets.

    It had no immediate comment Friday.

    The U.S. Embassy was the target of a suicide bomb attack in February that killed a Turkish security guard and severely injured a local resident. But that attack was attributed to an extreme left-wing organization, not Islamic militants.

    The arrested alleged attackers also planned to bomb an Istanbul synagogue and the private Rahmi M. Koc Museum, police said. They additionally intended to attack Turkish TV personality-actor Acun Ilicali and author Adnan Oktar, also known as Harun Yahya, an Islamic creationist who speaks against evolution, the news agency said.

    via U.S. Embassy in Ankara, synagogue in Istanbul alleged al-Qaida targets – UPI.com.

  • Turkey shares its music with Indonesia

    Turkey shares its music with Indonesia

    Melody: A Turkish performer plays for a crowd in Jakarta on Thursday. JP/P.J. Leo

    Music is a universal language. People can enjoy melodies no matter where they come from.

    This fact inspired Turkish Ambassador Zekeriya Akcam to invite two Turkish groups to perform in Jakarta.

    The groups were Allegra and Gul Isigi. Allegra represents modern Turkish music, Gul Isigi the traditional.

    “These musicians are the best of the best in my country. We will be entertained by high quality Turkish music in Jakarta,” the ambassador told The Jakarta Post at the concert at Usmar Ismail Hall in Kuningan, Jakarta, on Thursday night.

    The performance began with Allegra singing Indonesia’s national anthem, “Indonesia Raya”, and Turkey’s national anthem, “Independence Hymn”. The music featured piano, violin, flute and violoncello.

    The beautiful voice of Allegra’s soloist Mehlika Karadeniz mixed with the perfect sound of the musical instruments to create harmonics enjoyed by the audience of comprising ambassadors, businessmen, foreigners and Indonesian artists.

    Gul Isigi took the stage after Allegra, performing traditional Turkish music with a zither, frame drum, reed flute and oud (a pear-shape stringed instrument).

    They played 15 maqams (a style of singing with music), representing Makam Segah, Ussak, Muhayyer Kurdi and Nihavend.

    There have actually been 500 maqams composed in Turkey. Today as many as 50 maqams are still used, creating the forms and tastes of Turkish music.

    Turkish classical music is complicated for music loving beginners. The music uses both micro and macro tones and each maqam has its own style and scale.

    Gul Isigi performed the Ilahi, which is a hymn to show love for Allah and the Prophet Muhammad. The Ilahi had been arranged in several maqams. There is no difference between Ilahi, songs and musical instruments in terms of maqam. The difference is only the style and staging.

    During the performance, Gul Isigi presented the history of Turkish music from the 18th century to today.

    The next performance was a solo folk music performance with a baglama. The Baglama is a stringed musical instrument. Like an oud, a baglama has a deep round back but a much longer neck.

    Allegra then performed 12 folk songs from Turkey. Just like Indonesia, Turkey has many folk songs that are still popular today.

    One of the folk songs was “Magusa Port” from the Cyprus area. The song tells of a man named Arap Ali who worked at the Limasal Port. In 1943, Arap Ali went to the Magusa Port to load his goods. He visited a bar there and was involved in a fight with a British soldier. He was killed and the song was composed.

    The performances of these two groups of musicians created different points of view in terms of Turkish music.

    “The zither makes the Turkish music different and I like the sound of that instrument, it is so unique,” Diah, an audience member, said.

    “The instruments and framed drum create a different kind of music. It seems like Arabic music but it is not,” another audience member said. “The performance is beautiful and makes me so relaxed.”

    Allegra was founded as the Allegra String Quartet in 2005. The group is comprised of seven women, and was established to perform the musical heritage of Turkey and to consider the universality of music.

    Gul Isigi perform Turkish classical and Sufi compositions of the finest quality. The members of the group are from the academic world, and teach and research the history of Turkish music.

    Turkish Ambassador Zekeriya Akcam said this was the first performance of Turkish musicians in Indonesia. He plans to invite more musicians to perform in the country in order to introduce Turkey to Indonesia.

    “We plan to hold a concert in May or June. I would like to discover what kind of music they like and then we can perform maybe in Surabaya, Jakarta or Bandung,” he said.

    “The performance today is a test case to see whether people in Indonesia like Turkish music,” the ambassador added.

    In the future, it will be possible to invite Indonesian musicians to Turkey to perform.

    “Actually we share many similarities. Turkey also has a kind of music similar to dangdut in Indonesia,” Akcam said with a big smile.

    He added that the money earned from the recent show will be donated to the Rehabilitation of Disabled Children Foundation (YPAC).

    Purti Muki, the chairwoman of YPAC, confirmed the donation.  She said she was pleased with the generosity of the Turkish Embassy, as YPAC needed funds.

    via Turkey shares its music with Indonesia | The Jakarta Post.

  • Georgia leader breaks shoulder during Turkey state visit

    Georgia leader breaks shoulder during Turkey state visit

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    In this photo released by the Turkish Prime Minister’s Press Office, Turkish Prime Minister Recep Tayyip Erdogan, right, and Georgian President Mikhail Saakashvili shake hands before a meeting in Istanbul, Turkey, Saturday, April 6 , 2013. (AP Photo/Kayhan Ozer, Turkish Prime Minister’s Press Office)

    TBILISI: Georgian President Mikheil Saakashvili has suffered multiple shoulder fractures after a bicycle accident while on a state visit in Turkey, his office said on Monday.

    “The president has suffered an injury during his daily bicycle workout and was diagnosed with a triple fracture of the shoulder,” his office wrote in a post published on the Georgian leader’s Facebook page.

    According to the statement, which did not give details of Sunday’s accident, Saakashvili has undergone surgery for his injuries at an Istanbul hospital.

    It was not immediately clear if he had been released from hospital.

    Due to the accident, the president’s schedule for Monday — a dinner meeting with his Turkish counterpart Abdullah Gul — was pushed back to Tuesday, after which he is due to leave Turkey.

    On Saturday, Saakashvili met with Turkey’s Prime Minister Recep Tayyip Erdogan.

    Georgia’s key regional ally Turkey supports the ex-Soviet republic’s bid to join the North Atlantic Treaty Organisation (NATO) — an ambition strongly opposed by its former imperial master Russia.

    The neighbouring Black Sea countries also share economic interests in promoting the transit of Caspian gas to Europe via a pipeline bypassing Russia.

    Saakashvili is due to step down from his post in October when his second and final presidential term expires.

    via Georgia leader breaks shoulder during Turkey state visit | News , Middle East | THE DAILY STAR.

  • Saakashvili visits Turkey

    Saakashvili visits Turkey

    TBILISI, DFWatch–Georgia’s president Mikheil Saakashvili is on an official visit to Turkey, and has already held meetings with the Turkish prime minister and ethnic Georgians living in the northern industrial city Bursa.

    President Mikheil Saakashvili met with Georgians in the Turkish city Bursa. (President’s photo.)
    President Mikheil Saakashvili met with Georgians in the Turkish city Bursa. (President’s photo.)

    After meeting with the prime minister, Saakashvili said they discussed the issue of Rabati Castle, along with other important topics.

    “First of all we spoke about the issue of NATO integration, and Turkey promised to help us in this direction,” he said on a joint press-conference held after the meeting, “Our main guide to the NATO integration is Turkey.”

    The two also discussed the economy.

    Commenting on the reconstruction of Rabati caste, a hot topic during the last week, he said that the Turkish prime minister assured him that there weren’t any categorical demands about the castle.

    “The prime minister agreed with me that the dome should remain gold. All the other issues should be discussed in detail together with specialists not to harm the interests of any party,” Saakashvili said.

    He said he had agreed with the Turkish prime minister that Georgian specialists will be allowed onto Turkish land to study the Georgian heritage there, which is important, he said, because this cultural heritage needs to be saved.

    “Let them leave Rabati dome alone. We need to conduct a respectful policy in regards to foreign affairs,” he added.

    During the visit the president met with ethnic Georgians living in Bursa. The locals there told him about a desire to have close relations with their historic homeland. The president promised to grant citizenship to everyone who retained Georgian language and culture.

    via Saakashvili visits Turkey | Democracy & Freedom Watch.