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Kuwaiti Gulf Cryo Acquires Deniz Gaz PDF Print E-mail
Written by TACCI Admin   
Wednesday, 20 August 2014 15:24


Kuwaiti Gulf Cryo acquires Turkish industrial gas producer 

Sabah – Kuwait-based gas company Gulf Cryo has announced the acquisition of Turkish industrial gas producer, Deniz Gaz. A company specializing on the production and filling of helium, oxygen, nitrogen, argon and similar gases for medical and industrial applications, Deniz Gaz has facilities in Turkey's Denizli, Izmir and Ankara provinces.

Active in 14 countries throughout the Middle East, Gulf Cryo employs some 2,000 people in 14 countries. “Turkey is the largest market of industrial gases in the Middle East region”, according to Naji Skaf, CEO of Gulf Cryo. Skaf cited Turkey’s stable economy, strong industrial base and well-educated population as key factors in their investment decision and said that the Turkish industrial gases market was growing by double-digit figures year-on-year.

“This solid growth in the midst of a global downturn is very attractive for industrial gas companies looking for investment opportunities”, he noted. The financial details of the acquisition deal were not disclosed. 


The Istanbul Finance Summit to be held on September 15-16 PDF Print E-mail
Written by TACCI Admin   
Tuesday, 19 August 2014 18:47

Istanbul Finance Summit to be held in September

Anadolu Agency will be the communications partner of the summit for the second time in a row


The Istanbul Finance Summit (IFS) will be held on September 15 and 16, bringing together prominent figures of the finance and economics sectors for the fifth time this year under the theme "Innovative Finance". 

Anadolu Agency is the summit's global communications partner for the second time in a row.

Deputy Prime Minister Ali Babacan and Finance Minister Mehmet Simsek, as keynote speakers, will address the attendees - regulators, decision makers, financiers and bankers - all major figures in their respective fields. 

This year the NASDAQ OXM group's vice chairman, Sandy Meyer Frucher, Kazanah Basional Berhad's chairman, Mohd Izani Ghani, and CEO of Casablanca Finance City Said Ibrahimi and Kazakhistan Central Bank's vice-president Kuat Kozhakhmetov will be among the attendees. Last year, the summit hosted 64 speakers from 52 countries.

Many local and foreign politicians are also expected to participate in the summit that is sponsored by Turkish Central Bank, Borsa Istanbul and the Secretariat of Treasury. 


Last Updated ( Tuesday, 19 August 2014 18:50 )
Turkey Attracted $6.8 billion Worth of FDI In The First Half of 2014 PDF Print E-mail
Written by TACCI Admin   
Monday, 18 August 2014 20:24


FDI inflow into Turkey in the first half up 28 percent 

Turkey attracted USD 6.8 billion worth of foreign direct investments (FDI) in the first half of 2014, increasing 28 percent as compared with the same period of 2013, according to latest data released by the Central Bank of the Republic of Turkey. Real estate purchases by foreigners in the said period accounted for USD 2 billion of the total. 

In June alone, the country attracted USD 990 million net FDI of which USD 416 million constituted of real estate purchases.

The UK, with USD 464 million, was the largest investor in June, followed by the Netherlands with USD 149 million. Sector wise, wholesale and retail trade, with USD 407 million, attracted the largest amount of FDI in June, followed by Manufacture of Chemicals, Chemical Products, Basic Pharmaceutical Products and Materials with USD 164 million.

Turkey attracted USD 12.9 billion of FDI in 2013. 


Brand New I20 To Be Produced In Turkey PDF Print E-mail
Written by TACCI Admin   
Thursday, 14 August 2014 17:53


ISTANBUL – As representative of Hyundai's Bsegment, the new generation of i20 has finally been launched. The world premiere for the new i20 is scheduled to be held at the 2014 Paris Motor Show in early October. It will be produced in Turkey and exported to all European countries. Thus, with the i20, whose production will start in October, Hyundai Assan Company will be producing two brand new models in two years.

Initiating an investment move in 2013, Hyundai Assan has invested 508 million euros (TL 1.47 billion) including the enhancement of its annual production capacity to 200,000 and subsidiary industry improvement backings, in addition to the production of the i10 and i20.

The i20, which aims to have a larger share in the European market, is designed in line with the pleasures and requirements of European consumers at the Design Center in Germany's Rüsselsheim.

Based on a new platform, the new i20 is 4.35 meters in length and features a 2.57-meter wheelbase (45 mm longer than its predecessor) providing European customers with one of the most spacious cabins in the segment. Efficient packaging has created a passenger compartment that can comfortably seat five adults. Combined front and rear legroom is best in class at 1.89 meters.
Trunk capacity is also segment-leading: 326 liters when the rear seats are upright

Turkey Increases Female Employment to Become the 10th Largest Global Economy by 2023 PDF Print E-mail
Written by TACCI Admin   
Wednesday, 13 August 2014 19:18

Turkey wants to put women to work to improve economy

In an effort to become the tenth largest global economy, the Turkish government aims for the women employment rate to exceed 35 percent by the year 2023.

By A. Humeyra Atilgan

The employment rate of Turkish women will exceed 35 percent by the year 2023. The government has defined this as one of its objectives for the centennial of the Turkish Republic.

As defined in its plan "National Employment Strategy 2014-2023,"  the ruling Justice and Development (AK) Party considers as essential to favor female employment in order to become the 10th largest global economy in 2023.

But the country has a long way to go.

In 2012, the employment rate of women in Turkey was only 29.5 percent, the lowest rate of 34 countries, according to 2014 Economic Survey of Turkey by the Organization for Economic Co-operation and Development (OECD) . 

Turkey lagged far behind Greece at 41.9 percent (while Iceland boasted the highest female employment rate with 78.5 percent followed by Norway with 73.8).

Furthermore, the Turkish rate was well below the OECD average of 57 percent and even further below Turkish male employment rate, which stands at 69 percent, still according to OECD's 2014 Economic survey of Turkey.

"The first reason of women's not being in labor force is our rooted social belief that they should stay at home and care for their family," says Gulden Turktan, president of KAGIDER Women Entrepreneurs' Association in Turkey

In order to counter the pervasive tradition, KAGIDER - Women Entrepreneurs' Association members travel all around the country and organize meetings to encourage local women to work and to have confidence in themselves. 

Turktan adds that each day more and more women participate in business life as hear about more success stories of woman entrepreneurs. 

In recent years the government has also encouraged female employment namely, in the private sector.

For instance, since 2008, the government offers to pay a company's share of female employees' social security benefits for 54 months, if it hires women who have been unemployed for six months or more.  

Meanwhile, the Turkish Employment Agency (ISKUR) also supports women by offering them training courses in various fields of occupation, including computer management, programming, sales etc.

Some of these policies have visibly had their effect as the female employment rate, while very low, has been steadily rising in the last decade from 23,3 percent in 2004 to 29,5 percent in 2012, as confirmed in the 2013 report of  the Turkish Statistical Institute (TurkStat).

In order for this trend to continue and the 35 percent female employment to be reached  in 2023, the Turkish government has recently implemented new policies such as an 18-week maternity leave, a flexible part-time working model and the establishment of day care centers at the workplace to permit women to work while starting families.

However, some remain skeptic concerning the feasibility of the government's 35 percent objective – despite the fact that it is only a six-percentage-point increase, the same that occurred in Turkey between 2004 and 2012.

Elif Lologlu, president of Women's Movement Association, finds it "impossible" for the female employment rate in Turkey to reach 35 percent in the next decade. 

She says women are neither encouraged enough, nor provided with, the means to participate in the labor market, despite gender equality in the law. 

"I don't believe that the existing practices, which supposedly support more women employment, are really serving the purpose," she says. 

Lologlu says only efforts to ensure women are more qualified and incentives to encourage well-educated female employment will pave the way for an increasing rate of women employment. 

It is precisely because Turkish women lack access to higher education, that they are employed less than men, says Gunay Bolukoglu, a vice-principal from  the Turkish Employment Agency ISKUR. 

"The higher the level of education, the higher the 'female employment rate' will become," she underlines. 

Indeed, data from Turkish Statistical Institute shows the employment rate in 2013 stands at 72.1 percent for postgraduates while it drops to 27.5 for secondary school graduates and to 17.4 for illiterate women. 

According to Gulden Turktan, president of KAGIDER Women Entrepreneurs' Association, women have proven very successful in the Turkish banking sector and are expected to go into such sectors as tourism, finance, health in the years to come.  

"I believe that the rate in Turkey will definitely go beyond 30 percent and even reach 50 in a decade," says Gulden Turktan, president of KAGIDER Women Entrepreneurs' Association.

Last Updated ( Wednesday, 13 August 2014 19:25 )

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