Month: November 2007

Mittal Acquires 51 per cent of Rozak

ArcelorMittal, the largest producer of steel in the world has announced that its acquisition of 51 per cent of Rozak, the Turkish construction steel producer. The company aims to double sales and expand to countries near the Mediterranean and Caspian Sea. The deal follows the announcement of ArcelorMittal in October that it will build a… Read more »

Italian Companies to Invest in Turkey’s Energy Sector

Italian energy companies are planning to invest in Turkey , according to the head of the Italian Trade Centre in Istanbul. Nine prominent Italina energy companies will invest in Turkey following talks between Prime Minster Recep Tayyip Erdoğan and his Italian Romano Prodi, said Dr Roberto Luongo, director of the Italian Trade Centre in an… Read more »

Turkey-Greece Investment Boost

Bilateral trade between Turkey and Greece has exceeded 2.2 billion euros and are expected to reach 5 billion euros, the Greek ambassador to Turkey said yesterday at a press conference in Istanbul. The press conference was to highlight the release of a documentary on the Turkish-Greek economic relations, which will screen tonight at the consulate… Read more »

Turkey stock markets boosted by global gains

The rising global stocks and easing US credit market concerns and positive expectations for 2008 has meant that stock markets in Turkey closed stronger on Wednesday. The Lira firmed nearly 2.5 per cent to close at 1.1995 versus the previous day’s 1.22900 on the interbank market. The currency is now 17 per cent stronger than… Read more »

China and Turkey to collaborate over tourism

Trade representatives Arzuhan Dogan Yalcindag of the Turkish Industrialists and Businessmen’s Association and Cen Cien the trade minster for China have been in talks with regards to their tourism. Ms Yalcindag said that Turkey could bring its experience as a major player in tourism to the relationship between the two countries. " Turkey is one… Read more »

Morocco to Promote Renewable Energy

Plans by Government officials in Morocco to introduce legislation that will encourage foreign investment in the country’s renewable energy sector. Amina Benkhadra the Moroccan Energy Minister said the ministry would promote renewable energy by creating a favourable investment climate. "Coherent legislation that supports the development of the flourishing renewable energy markets and also recognizes the… Read more »

Turkey’s British Tourism Market Boost

The European Union has released figures showing that 1,840,307 visitors from the UK holidayed in Turkey in 2007, a 14.58 per cent increase from 2006. Sermin Ozduran, Director of the Turkish Culture and Tourism Office in the UK, told “These figures demonstrate that Turkey is a year-round destination offering something for everyone, from adventurous… Read more »

Morocco to Invest in High Speed Railway Line

The transport minister for Morocco has unveiled plans to invest 20 billion dirhams to build a high-speed rail line linking the northern city of Tangier to the country’s commercial capital, Casablanca. “The project cost is estimated at 20 billion dirhams and will cut the journey between the two cities to two hours and 10 minutes… Read more »