Bombardier to Supply Twelve Additional FLEXITY Swift Tram-Trains to Karlsruhe, Germany
The contract for tram trains to the city of Karlsruhe is valued at approximately 60 million Euro... Bombardier Transportation and Global Rail Sdn. Bhd. Win Contract to Provide Rail Control for Second Line of Malaysia's Klang Valley MRT. An overall value of approximately 95 million Euro. Bombardier's share totals approximately 48 million Euro...
Salini-Kolin Consortium Signs a Motorway Contract in Kuwait, while Limak İnşaat Signs an Infrastructure Works Contract
Salini-Kolin İnşaat Consortium and Limak İnşaat are awarded the contracts in two separate tenders announced for the motorway and other infrastructure works within the scope of Southern Al Mutlaa city project of Kuwait. Salini-Kolin Consortium will sign a contract at a value of around $ 800 million for the motorway in the coming days, while Limak İnşaat signs a contract at a value of around $ 200 million for the infrastructure works of the city
TÜMOSAN Net Profit Increases by 16.1% in 2016
TÜMOSAN announced TL 10.1 million net profits for the first quarter of 2016
Deputy Prime Minister Mehmet Şimşek Commented on the Current Account Deficit
The current acounts deficit has been disclosed as $ 3.6 billion as of March 2016 compared to the same period last year Deputy Prime Minister Mehmet Şimşek responsible for the economy: “Savings rates are at very low levels in Turkey. There is a considerable need for investment. Structural reforms are necessary to overcome the problem.”
IMF Predicted Turkey's Annual Inflation as 9.8% in 2016
According to IMF's report regarding Central, Eastern and South-eastern European (CESEE) countries including Turkey: "Capital inflow to Turkey has recently become positive again, and financial sector benefited from investments. Private sector savings have remained below 13% since 2010, and decreased to 9% in 2013. Implementation of reforms, especially for retirement and severance payment, should start immediately."
Yapı Kredi Bank Renewed Its Syndication Loan
Yapı Kredi announced that it received a syndication loan of $1.5 billion with the participation of 48 banks from 15 countries. The syndication loan was provided in two different currencies, $381 million and €959 million
Local Administrations Finance Summit
Short and long term finance issues of local administrations, the Public-Private Partnership (PPP) model and drawbacks in legislation will be discussed during the Summit to be held on May 5, 2016 at Conrad Hotel, Istanbul...
CPI Increased by 0.78 % in April 2016 on a Montly Basis and by 6.57 % on a Yearly Basis
The increase in CPI realized as 0.78 % in April 2016 compared to the previous month, as 2.55 % compared to December last year, as 6.57 % compared to the same month last year and as 7.84 % according to 12-month averages...
Turkey Signs Paris Climate Agreement
Minister of Environment and Urbanisation Fatma Güldemet Sarı who signed the agreement on behalf of Turkey: “Success of the agreement will depend on completion of the relevant undertakings with adequate funding and technology transfer. Turkey declared that the country will reduce the greenhouse emissions from its current value down to 21 percent by the year 2030.”
BOMBARDIER INNOVIA APM 300 Inaugurated at the Munich Airport
Germar Wacker, President, Mainline and Metros, Central and Eastern Europe region (CEE) at Bombardier Transportation: "Bombardier has extensive global experience in the design, build and supply, as well as operation and maintenance, of driverless transit systems. Our modern mobility solutions for passenger transfers are in successful operation at airports all over the world. The latest generation of INNOVIA APM 300 technology meets the high quality and service standards of the five-star Munich Airport"...
Borusan Holding Disclosed Its Investment Strategies for the Upcoming Period
Borusan Holding CEO Agah Uğur: “We have realized an investment of $ 362 million within a year primarily in the energy field. We will make an investment of $ 200 million until 2020 in innovation, R&D and digital transformation”…
IMF and World Bank Spring Meetings Started
Deputy Prime Minister Şimşek, "We endevour to put growth ratio to 5% path again by performing the structural reforms on Medium Term, by increasing the efficiency." IMF President Lagarde, "IMF has to consider the fact that whether there is sufficient fund to support member countries and reforms to comprise stengthening the ties with regional creditors." World Bank Group President Kim, "Global economy is at a difficult period. There is no bright point now other than the USA and India. Weaknesses of Europe, Japan and emerging economies continue. Russia and Brazil will again experience negative growth. The money annually spent for refugee crisis exceeds USD 20 billion."
Vice Prime Minister Mehmet Şimşek Goes to Washington to Participate in IMF-World Bank Meetings
Vice Prime Minister Şimşek will participate in G20 Ministers Meeting in China’s Presidential Term on April 14-19, 2016, and then in Spring Meetings of IMF and World Bank
Moody’s Stated that Turkish Banking System’s Outlook is Negative
From the Moody’s Report: “Banks face challenges from a slower economic growth, increasing dollarisation of liabilities and volatile sentiment towards emerging markets. Turkish banks will experience narrowing net interest margins due to the banks' rising borrowing costs”…
The Public Offering of Enerjisa Has Been Aimed in the Beginning of 2018 at the Latest
Sabancı Holding Energy Group President Göçmen noting that they will initiate a public offering program upon selling minority shares in distribution and retail sectors, said “We aim to realize the public offering of Enerjisa either at the end of 2017 or latest in the beginning of 2018.” Göçmen stating that the proportion of public offering will be at an amount to satisfy adequate profundity, said that the security offering will be a step forward for the sector in terms of transparency…
IMF President Lagarde, "Recovery is Extremely Slow, Very Vulnerable and Risks for Stability Increase"
"Main difficulty on the way of global economy today is uncertainty. For the expectation of growth in global economy to be moved to developed economies from the emerging markets has not realized, global economy has further weakened. It is the right time for global economy to show leadership at an environment full of increasing risks and uncertainty".
Gama Güç Sistemleri Moves Toward Africa, Far East Asia ve Iran Markets
Umut Eroğlu, the CEO of GAMA Power Systems: In recent years, we have been observing a recess in the energy industry, particularly in contracting. The recession and instability in economies have directed us to looking for new markets in different regions just like for other international companies. The best example of this is the African market, where we expect the investments to speed up as we have been studying the market for a long time. For the purposes of this expectation, we established the company "GAMA Industry Moçambique Lda" last year in Mozambique. This was the first International Contracting Company of Turkish origin to gain admission into Mozambique Association of Contractors (FME). In addition to this region, we carry out certain operations and we have signed contracts in Iran.
Taisei Corporation Cooperates with Mitsubishi Electric for Marmaray Project
While Taisei Corporation conducted assembly and commissioning of bored tunnel, immersed tube and all electromechanical systems for Marmaray BC1 Bosphorus Sub-Sea Tunnel, Mitsubishi Electric was in charge of high tech automation equipment, engineering and design, project design, software programming, hardware assembly, commissioning, training and service support...
Baku Olympic Stadium Constructed by Tekfen İnşaat as “Design and Build” Has Won the ‘Diamond Award’
Tekfen İnşaat General Manager Levent Kafkaslı: “Our project of which we have realized the design and turnkey construction works in a record period of 24 months without compromising the high-tech engineering and occupational health safety standards of Tekfen has won another one of the most prestigious awards in the world. This is an indicator of where the Turkish contracting sector is being ranked”…
General Electric Speeds Up the Export of Diesel Locomotives Manufactured in Eskişehir
GE PowerHaul diesel locomotives manufactured in Eskişehir with GE-Tülomsaş partnership are being exported to the Middle-East, North Africa and European markets. GE has most recently exported 11 locomotives to Europe and England…
Swiss Train and Tramcar Manufacturer Stadler Has Also Disclosed that It May Invest in Turkey
Peter Jenelten, Executive Vice President, Marketing & Sales at Stadler Rail AG: “The amount and form of the investment we will make is still not clear. However, we have to be in such a large market. We have 7,000 co-workers as of today with an annual turnover of over € 2 billion. We have production plants in Germany, Hungary, Poland, Spain and Belarus worldwide. Turkey is a market where national producers are also strong. We may also work on utilizing Turkish suppliers or with a Turkish partner upon taking a decision on investment.”