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Istanbul: One More Step To Become a Global Financial Center PDF Print E-mail
Written by TACCI Admin   
Tuesday, 16 September 2014 17:01

'Istanbul is ready to become a finance hub'

Turkey's Deputy PM responsible for the economy Ali Babacan, Turkish Finance Minister Mehmet Şimşek, Governor of Turkish Central Bank Erdem Başçı and Vice Chairman of the NASDAQ OMX Group, Sandy Meyer Frucher gathered in Istanbul on Monday for the fifth Istanbul Finance Summit (IFS), a two day meeting to discuss innovation.

Chairman of MRL Corporation and Independent Energy Expert, Cornelia Meyer, CEO of Bahrain-based International Investment Bank, Aabed Al-Zeera, Kazanah Basional Berhad's chairman, Mohd Izani Ghani and Kazakhistan Central Bank's vice-president Kuat Kozhakhmetov are among the attendees.

Deputy PM Ali Babacan made statements over the current topics on Tuesday and stated that İstanbul Finance Center (IFC) is more than a real estate project along with 25 other transformation projects in İstanbul, and the action plan regarding IFC will be announced in the end of October.

Babacan also commented on lease certificate issues recently started by private sector and stated his support for interest free finance and capital tools.

Istanbul with its regulated markets and structure, is a candidate to become a global financial center, said Cornelia Meyer, renowned international economist on Monday at Istanbul Finance Summit (IFS).

"Global financial centers should constantly improve their products and invest in innovation. İstanbul is a city ready to become a finance hub," Meyer said. "Strengths in culture and diversity of the city should be emphasized in order for Istanbul to become an effective financial center."

The head of Borsa Istanbul, Ibrahim Turan said in his opening speech, "the issue of the next decade will be funding the investment in developing countries that is over $12.5 trillion. Seven of every ten companies will start up in developing countries until 2025 according to projections."

"The issue of the next decade is how to find finance of this $12.5 trillion gap," Turan said.

Turan emphasized that developing countries need to invest more in order to close the gap with the developed nations and to contribute to global progress.

"This summit will contribute to Istanbul becoming an international finance center," Professor Murat Yulek, chairman of the summit advisory board, said.

The President of Turkish Exporters Assembly Mehmet Büyükekşi said that "innovative finance requires development of sustainable methods. We believe the importance of innovative financing in development same as innovation."

"İstanbul, with the opportunities it presents, historical background and diversity, is ideal to become a financial center," added NASDAQ OMX vice-chairman Sandy Meyer Frucher. "İstanbul holds a strategic location between Europe and Asia making it regional financial center."

Frucher also said "Turkey should benefit from its connection to the Islamic world by attracting Islamic financial instruments".

Financial and economic experts around the world have gathered for a two-day summit in Istanbul in order to discuss innovative finance.

The summit hosts leading representatives of global financial markets and senior executives of financial institutions from North America, Europe, the Gulf Region and East Asia.

The main topics include investment banking, venture capital funds, angel investment and innovation finance, innovative tools and infrastructure financing methods and financial centers.

The event is sponsored by the Turkish Central Bank, Borsa Istanbul and the Secretariat of the Treasury and Anadolu Agency as the global communications partner for the second year.


BSH Expansion and Investment in Turkey PDF Print E-mail
Written by TACCI Admin   
Monday, 15 September 2014 16:17

BSH to double production capacity in Turkey 

Dünya – German white goods and home appliances manufacturer BSH is planning to double its production capacity in Turkey, according to a company executive.

Speaking to the Turkish press at IFA 2014 event in Berlin, BSH’s Chairman of the Board of Management, Karsten Ottenberg, said that the company’s investments in Turkey to date have reached EUR 1 billion. “Turkey holds immense potential with its large domestic market and export capabilities. BSH will speed up its investments in Turkey, its third largest market in terms of turnover following Germany and China”, Ottenberg said.

BSH Turkey CEO, Norbert Klein, speaking at the same event, said that the annual capacity of BSH’s production plants in Turkey will nearly double to 8 million units up from its current 4.5 million in the next 5 years. “Extending the innovation and R&D capabilities of BSH Turkey will be the priority”, he noted.

BSH employs over 5,000 people in Turkey, using Cerkezkoy, Tekirdag production site as a supply base for the company’s exports to markets in Western, Central and Eastern Europe and the Middle East.

Last Updated ( Monday, 15 September 2014 16:20 )
Written by TACCI Admin   
Friday, 12 September 2014 15:24

Turkish Chamber of Shipping, has become a General Member of TACCI.

Istanbul and Marmara, Aegean, Mediterranean and Black Sea Regions Chamber of Shipping, briefly called the Turkish Chamber of Shipping (TCS), is an important professional organization of the Turkish maritime sector, with its headquarters in Istanbul and main branch offices in Izmir, Bodrum, Marmaris, Antalya, İskenderun,  Fethiye and Karadeniz Ereğlisi.

Address: Meclis-i Mebusan Cad. No:22 34427 Findikli / Beyoglu / Istanbul
Phone: +90 (212) 252 01 30 
Faks: +90 (212) 293 79 35


Last Updated ( Friday, 12 September 2014 15:28 )
Thirteen Textile Manufacturers From Turkey will exibit H-TT in Septembe 15-18 PDF Print E-mail
Written by TACCI Admin   
Wednesday, 10 September 2014 17:43

Thirteen manufacturers from Turkey’s Denizli manufacturing region will exhibit in H&TT’s Global Home Show in New York in September.

The companies are members of a cluster project of the Denizli Exporters’ Association, which is supported by the country’s Ministry of Economy.

The pavilion will be located in the Prince George Ballroom 15 East 27th St., between 5th and Madison Avenues in the showroom neighborhood of the textiles market. They include:

ABC Textile
Pamir Towel
Vateks Vatan 

Last Updated ( Wednesday, 10 September 2014 17:44 )
Dutch Rabobank Receives Green Light to Operate in Turkey PDF Print E-mail
Written by TACCI Admin   
Tuesday, 09 September 2014 16:43
Dutch Rabobank granted operating license in Turkey

Milliyet - The Banking Regulatory and Supervision Agency (BDDK) granted Rabobank, the largest agricultural lender in the Netherlands, a license to operate in Turkey, according to an announcement in the Official Gazette.

In August, 2013, the BDDK had given the Dutch financial institution the permission to set up a bank in Turkey with an initial investment of USD 300 million, the capital required to start a banking business in the country.

Focusing on food and agricultural industries, Rabobank joins Italian Intesa Sanpaolo, Japan’s Bank of Tokyo-Mitsubishi UFJ (BTMU) and Lebanese Bank Audi who have all received a Turkish banking license in recent years.



Last Updated ( Wednesday, 10 September 2014 20:19 )

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