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bne Turkey Daily ListExecutive Summary:
This is bne's Turkey daily newsletter, a list of the top stories in the country this morning. To manage your delivery options: click here: | ||
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| 1. Turkey, Syria still at odds over details |
| Hurriyet Daily News |
| June 26, 2012 Ankara stands firm in its stance on the shooting down of its plane, while international bodies back to Turkey. 'Turkey has not said its last word yet,' says EU Minister Ba__ Syria "clearly and exclusively" bears the responsibility for the downing of a Turkish military jet in international airspace over the Mediterranean, Ankara has said, as international support for Turkey increases. "The downing of the Turkish plane without any warning is totally unacceptable and the responsibility for this attack clearly and exclusively lies with Syria," a statement from the Turkish Foreign Ministry said June 24. Turkey has said an F4 fighter jet was downed 13 nautical miles off the Syrian coast in international waters, but crashed in Syrian territorial waters. EU Minister Egemen Ba__ yesterday said the downing of the warplane was set to become an international issue. "The attack on our plane is not solely a conflict between Turkey and Syria, but it is a matter of international diplomacy. ... Turkey has not said its last word yet." Ba__ said the issue had aspects that would concern platforms such as the European Union, NATO and the United Nations, adding that Turkish Foreign Minister Ahmet Davuto_lu had acted attentively. On the other hand, Parliamentary Speaker Cemil iek said Turkey was working to break the misinformation spread by Syria about the incident. "The international arena must be informed against Syrian lies. ... Not distributing such [counter] information would create new problems," he said, hinting at countermeasures. EU not supporting military action iek said Syria had hit Turkish planes intentionally in international air space. On the international arena, EU foreign ministers condemned Syria's actions, but said the bloc would not support military action in the troubled country. "What happened is to be considered very seriously [but] we do not go for any interventions," the Associated Press quoted Dutch Foreign Minister Uri Rosenthal as saying. German Foreign Minister Guido Westerwelle also urged calm. "I think it is still important that we continue to work on a political solution [to the Syrian crisis]." "This plane was not carrying arms and was on a routine flight and was shot down. ... There was no prior warning, therefore this is completely unacceptable," French Foreign Minister Laurent Fabius said. Ankara has called a meeting of NATO's governing body today to discuss the incident. A NATO official said the Turkish representative would inform his colleagues of what had happened. The envoys were expected to discuss Turkey's concerns but would not decide on anything specific, said the official, who could not be named under standing rules. EU spokeswoman Maja Kocijancic said the bloc would add another Syrian official and six firms and government institutions to its sanctions list. The list already includes over 120 individuals and nearly 50 institutions. U.S. Secretary of State Hillary Clinton called the attack "brazen and unacceptable" and said Washington would cooperate closely with Ankara to promote a transition in Syria. Meanwhile, the Organization of Islamic Cooperation's executive committee has recommended suspending Syria's membership. |
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| 2. Turkey's tourist numbers continue to sag |
| bne |
| June 25, 2012 Tourist numbers arriving in Turkey dropped for a fourth consecutive month in May, although the pace of the contraction slowed, data released by the Ministry of Tourism on June 25 showed, according to RTT. Tourism visits to the country fell 1.53% to around 3.23m in May, a significantly slower drop than the 5.33% slowdown seen in April. Arrivals from France dropped a full 26.6% year in year during the month, whilst the number of German visitors swelled by 12.13%. Ovearll, approximately 8.84m tourists visited Turkey in January-May, a 4.34% drop year on year. |
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| 3. Turkish industrial data for June hints at slowdown |
| bne |
| June 25, 2012 Capacity utilization in Turkish manufacturing decreased modestly in June, whilst confidence in the industrial sector sagged for a consecutive month, data released by the central bank on June 25 showed, according to RTT. The capacity utilization rate edged down to 74.6% in June from 74.7% in May, which was unchanged from the April reading. Capacity utilization in the consumer goods industry rose to 73.2% in June from 72.5% in May, while capacity utilization in the intermediate goods industry dropped to 77% from 77.2%. The capacity utilization rate in the investment goods industry was 72.5% in June, down from 73.5% recorded in May. Separately, the agency said industrial confidence in Turkey deteriorated for the second successive month in June. The real sector confidence index dropped to 108.1 points from 113.8 points in May. The sub-indicator that measures respondents' views of the general business situation decreased to 102.9 points from 106.8 points in the previous month, data showed. "The ongoing problems in eurozone continue to take a toll on manufacturing activity and business confidence," point out analysts at TEB. "The weakening in EU demand for Turkish exports has been partly offset with the increase in exports to MENA so far. Nevertheless, the recent decline in business confidence hints that the pickup in the manufacturing activity in April and May has likely lost pace in June." |
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| 4. Turkish assets slide on Syrian tension |
| bne |
| June 26, 2012 Turkish assets weakened on June 25 as tensions rose over the downing of a warplane on exercises by Syrian forces. Bond yields grew the most in almost three months and the lira fell, reports Bloomberg. Ankara and Damascus are still bickering about the details - international waters or Syrian?; missile or anti-aircraft weapons; one plane or two - but what is clear is that it risks bringing the simmering war-by-proxy being waged across the border to a head. Syrian President Bashar al-Assad's authorities have criticized Turkey for hosting meetings of opposition groups, whilst Ankara has called for a change of regime in Damascus. The potential flashpoint served to introduce massive added uncertainty for investors into Turkish assets, and analysts are now looking towards the special Nato meeting on June 26 as the next milestone for sentiment. On June 25, the yield on two-year benchmark debt advanced 12 basis points to 8.92% at the close in Istanbul, the biggest rise since April 10, Bloomberg said. The lira depreciated for a third day, dropping 0.4% to 1.8226 per dollar, paring this year's gain versus the dollar to 3.8%. The currency's three-day stretch of declines is its longest losing streak since May 18. |
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| 5. Central banks in CEEMA focus |
| BNP Paribas |
| June 26, 2012 The attention moves back to Eastern Europe as we expect three central bank rate decisions in the region over the next three days. NBH will leave the base rate unchanged, although that is widely expected and the difference will come from the statement after the announcement. Chances are that they are slightly more dovish than last time, although we don't expect them to move before the IMF negotiations are well underway. Once this condition is met, we could see significant easing to the tune of 200bp considering the continuous decline in domestic demand (retail sales surprised sharply to the downside by contracting 2.7% y/y) and the moderating inflationary pressures (Chart 1). Therefore, we expect the steepening pressures on both the IRS and the HGB curve to continue. Yesterday, BoI delivered the 25bp rate cut that we expected but their statement was slightly less dovish than anticipated. The staff forecast for 2012 GDP growth was not changed from 3.1% and the one for 2013 was revised just slightly lower from 3.5% to 3.4%. The other projections imply that rates will stay unchanged at 2.25% until the end of 2013, although even the statement notes that risks are to the downside. Their current forecast does not assume any credit crunch in Europe or further deterioration of the debt crisis as well as inflation averaging higher than the market consensus. Since we see risks to both of these assumptions, we are comfortable to continue receiving rates in the belly of the curve. BoI forecasts inflation at 2.4% over the next 4 quarters, stressing that it is "above the midpoint of the target range of 1-3 percent". At the same time 2-year break-evens implied from the market suggest inflation averaging roughly 2.1% and private surveys put it even lower at 2%. We are closer to camp, which expects inflation to keep moderating because of various reasons such as declining domestic demand and easing supply side inflationary pressures. So overall we expect the curve to continue to bull flatten in the near term. The other releases of note are the retail sales in Poland for May and the unemployment rate. The first are likely to have slowed their growth because of declining domestic demand, whereas the unemployment rate holds around its current levels. Such developments would add to arguments of doves at the NBP camp and the outlook becomes even more split. Similar situation is developing in South Africa, where the leading indicator is scheduled for 8am BST today. |
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| 6. EU Condemns Syria's Downing of Turkish Jet, Urges Probe |
| Ria Novosti |
| June 25, 2012 The foreign ministers of 27 EU members states condemned on Monday Syria's shooting down of a Turkish military plane and urged a thorough investigation into the incident. "The European Union notes that this is a matter which needs to be investigated thoroughly and urgently," the EU Council of Ministers said in a statement. Syria downed a Turkish F-4 Phantom jet on June 22, saying that it had violated Syria's airspace. Turkey said the unarmed plane, which was on a training flight to test Turkey's radar capabilities, had unintentionally crossed into Syria's airspace, but was a mile inside international airspace when it was shot down. Syria said it was unaware that the jet belonged to Turkey and that it was protecting its air space against an unknown intruder. The incident has further increased tensions between the former allies, whose relations have suffered a dramatic setback over the Syrian government's response to a popular uprising against President Bashar al-Assad. The EU has called on Syria to "cooperate fully with Turkey and allow full access for an immediate investigation, and for the international community to give its support to such efforts." NATO member Turkey has long been seeking membership in the European Union. Ankara has called a meeting of NATO member states on Tuesday to discuss the incident. In line with NATO's founding treaty, any ally can request such consultations if they feel their territorial integrity or security have been threatened. The wreckage of the downed jet has been discovered in the Mediterranean Sea, while its two pilots are still missing. Russian Deputy Foreign Minister Alexander Grushko expressed hope on Monday that NATO would not take any action that would escalate tensions over Syria and undermine international efforts to settle the 16-month-old crisis there. "Turkey's turning to the NATO Council in line with Article 4 [of NATO's charter] can be considered a very alarming signal that there is [a possibility of] escalation around Syria," Grushko, whose is expected to become Russia's new envoy to NATO, told RIA Novosti. The international community should make all efforts to find a political solution to the Syrian crisis, he said, adding "control over the process should remain in the hands of the United Nations Security Council." Russian military experts said on Monday the Turkish jet was likely to have been performing a surveillance flight to test Syria's air defense systems. "Syria has an effective air defense system," said Igor Korotchenko, who heads the Moscow-based Center for Analysis of Global Weapons Trade. When the Syrian military made the decision to open fire, they "qualified the target located in the country's airspace as hostile," he said. Turkey's intelligence has been active in Syria, and "all information obtained in Syria certainly becomes available to other NATO members," the analyst said. Another Russian military expert, Said Amminov, agreed that the incident demonstrated the effectiveness of Syria's air defenses, which largely rely on Russian-produced Buk, Pechora and Pantsyr defense systems, as well as on Soviet-made S-200 complexes. |
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| 7. Turkish jet entering Syrian airspace breach of sovereignty: Syria |
| Hurriyet Daily News |
| June 25, 2012 Syrian Foreign Ministry spokesman Jihad Makdissi speaks during a news conference at the Syrian foreign ministry building in Damascus May 31,2012. REUTERS Photo Turkish jet entering airspace was a "clear breach of Syrian sovereignty," Syrian Foreign Ministry spokesman Jihad Makdissi said during a press conference today. "Even if the plane was Syrian, we would have shot it down," Makdissi further said, underlining the urgency with which the air defense crew had to react to the plane flying at an altitude of 100 meters. Makdissi told members of the press that the jet was shot down with an anti-aircraft gun and not with radar-guided missiles. Makdissi said that Syria was committed to a 'neighborly relationship' with Turkey, and will match any positive moves from Turkey. |
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| 8. NATO condemnation to be sought over hit jet |
| Hurriyet Daily News |
| June 26, 2012 Turkey seeks strong messages of solidarity and condemnation fromNATO against Syria at today's meeting, with demands from allies to provide technical assistance for further investigation into the incident. Turkey in particular demands radar tracks and other sorts of evidence from Americanand British military bases located in the region, especially from Britain's bases in south Cyprus. The NATO allies will gather in Brussels at Turkey's urgent call under Article 4 of the treaty which stipulates consultation between members if one of the members believes its territorial integrity, political independence and national security is threatened. According to information the Hrriyet Daily News gathered from diplomatic sources, detailed technical information will be represented during permanent representatives' meeting at the NATO headquarters. A statement is expected to be issued after the meeting similar to those which have come from some member countries in the last 24 hours. Today's NATO meeting is the beginning of a comprehensive campaign to make the issue of the downed Turkish jet an international matter. The issue will be brought up to the United Nations and some other relevant bodies as well. The Arab League and Organization of Islamic Conference are other venues Turkey plans to apply to. Following Prime Minister Recep Tayyip Erdo_an's outlining of Turkey's position in a speech he is scheduled to make today, Turkey will continue to mull over some further measures during the National Security Council meeting to be held later in the week on June 28. Foreign Minister Ahmet Davuto_lu talked to his Moroccan and Chinese counterparts on Monday to inform them about recent developments. At a moment when Syria continues to challenge Turkey's version of the downing of the F-4 Phantom Turkey has no heart to go into polemics with Syria over radar data. Syrian Foreign Ministry spokesman Jihad al-Makdissi insisted that the Turkish jet flying at an altitude of 100 meters, or 330 feet, inside Syrian airspace was "a clear breach of Syrian sovereignty." Turkish diplomats, meanwhile, declined to comment over the spokesman's remarks, and said they did not want to enter into an argument since radar data from both Turkey and Syria was accurate and displaying the truth. Ankara doesn't ask for apology, compensation Turkey has not asked Syria for an apology and compensation over the downing of a Turkish military plane, a Turkish official told the Daily News yesterday, stressing that if Syria would go into such a process, it should do so without request as it did in 1989 when it shot down a Turkish plane and paid $3.43 million in compensation over one years time. In the meantime, Turkish Air Forces Commander Mehmet Erten and Davuto_lu informed President Abdullah Gl separately on Monday. |
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| 9. Gorillas in the Tatra mist |
| Tom Nicholson in Bratislava |
| June 26, 2012 When a Bratislava district court judge became the first to ban a book in Slovakia's post-Communist history last February, he was playing with fire. "Gorilla", as the book was known, promised to take readers behind the scenes of a massive political corruption scandal that was then roiling pre-election waters. But Judge Branislav Kral - even though he had never read the book, nor talked to anyone who had - decided its content violated the right of a local corporate raider, Jaroslav Hascak, to protection from attacks on his good name. The decision outraged voters who had been counting on the book to provide crucial details of the Gorilla corruption scandal - a secret service surveillance file codenamed "Gorilla" that comprises transcripts of a dozen incriminating chats and was leaked onto the internet before Christmas last year - and whether the Slovak secret service had really caught Hascak and top politicians in a bugged Bratislava flat discussing the rigging of privatisation sales in 2006 for millions of euros in kickbacks. The key to fixing such tenders, the financier could be found on the file discussing with one top state official, was to find out ahead of time what the competition is offering, by inflating the sealed envelopes containing the bids and inserting a micro-camera. "Then you just read the contents, line by line." The risk of discovery is small, the financier adds, "but if by some chance they find out, the results are fatal." He was clearly talking from experience - such skullduggery was indeed exposed at the privatisation agency where the state official works. Judge Kral was forced to hire a bodyguard following his decision over the book. "I asked for protection, I'm not going to say anything else about it," he revealed in an interview published a week after he granted Hascak the preliminary injunction. Small wonder he felt threatened. At the time, Bratislava was the scene of weekly "Gorilla protests" that drew thousands, even in bitter sub-zero temperatures, and always ended in violence. The right-wing parties of the outgoing Iveta Radicova government, which were most implicated in the Gorilla scandal, were in disarray and heading for a thrashing at the polls. Meanwhile, Hascak's corporate raider group, Penta, was filing lawsuits and fighting to have transcripts of Gorilla conversations removed from the internet. But by the time a Bratislava appeal court overturned Kral's ban on June 11, Gorilla was yesterday's news. Robert Fico's social-democratic Smer party had won an outright parliamentary majority after capturing an unprecedented 44% of the vote in March elections. The winter's powerful protest movement had ended with a whimper with a widely-ignored "Occupy"-style picketing of the general prosecutor's office in May. And while Gorilla had meant red cards for some right-wing politicians - chief among them former two-term former prime minister Mikulas Dzurinda whose second term was when the Gorilla file was compiled, who quit after over a decade as leader of the centre-right SDKU party - it had no discernible impact on the sleaze at the heart of Slovak politics. Many of the people named remain fixtures of the Slovak political scene today, just as the cynicism on display in the Gorilla file echoes a very contemporary disregard for the rules of the game. "The voter is shit," says the financier at one point. "The voter knows nothing, he sees only the surface." Brought to book As the author of the "Gorilla" book in question, I visited some Smer politicians before and after the March elections to get a sense of whether they supported the court ban, and especially whether they believed the secret service transcripts of the bugged conversations about graft were authentic. "Not so much," was what Interior Minister Robert Kalinak said when I asked him if he believed in his gut the contents of the file. Kalinak will be leading the police inquest into the Gorilla case (an elite 14-member task-force was formed last January). Meanwhile, the current Prime Minister Robert Fico - who according to the transcripts also met Hascak in the bugged flat, but did not discuss bribes - staunchly refused to confirm or deny whether he had actually met the financier. "What use would such information be to you?" he asked cheerfully when I confronted him a week before the elections. His reluctance to confirm the authenticity of a file so devastating to his right-wing foes made more sense after he announced his new cabinet: Economy Minister Tomas Malatinsky, it turned out, has been renting a luxury mansion to Hascak since 2005. In other business-as-usual signs, the man overseeing the current Gorilla investigation, with absolute authority to file or dismiss charges, is Special Prosecutor Dobroslav Trnka. In 2009, when I first turned over the secret service Gorilla file to police, Trnka had been present at my interrogation, and had been interested in one thing only: where I had got it. For him, the content was irrelevant; my source was the key. "You lie, witness!" he shouted, when I told him I had received it anonymously in the mail. Back then he was in charge of the case too, and dismissed all charges. The new chief of police, Tibor Gaspar, is the man who ordered the Gorilla file I handed over Trnka to be buried in a regional police archives after a cursory investigation in December 2009. In the first interview he gave after assuming the top job, he said: "Let's not talk about Gorilla so much." Today's reluctance to discuss Gorilla contrast with what was going on in the run-up to the March elections. Before the elections, the then-interior minister Daniel Lipsic was holding weekly press conferences on the Gorilla investigation, writing blogs outlining circumstantial evidence against the ringleaders (a former economy minister and head of the state privatisation agency), and praising the secret service surveillance file that sparked the scandal as "a legitimate, authentic, and superbly-executed intelligence operation." The then-prime minister Radicova was also at the time rummaging in her Government Office archives for proof that the Gorilla surveillance operation took place - and having found it, turned it over to police. Police chief Jaroslav Spisiak, the country's anti-mafia crusader, was securing Gorilla evidence in Switzerland and admitting that he had dropped the ball in failing to take the Gorilla file more seriously when he first read it last year. But Spisiak is now out of a job - "I'm a househusband now, gotta' make things right with the wife," he said in late June - and Lipsic is starting a new political party, casting doubt on the sincerity of his very public anti-Gorilla stance. The policemen and secret service officers who helped to bring the Gorilla file to public attention remain fired and disgraced, while their colleagues who helped cover up the scandal have been promoted. The only sign of life in the whole sordid episode is the half-dozen online book sites that are now offering my "Gorilla" book for sale, and the media coverage of democratic Slovakia's first experience of censorship courtesy of Judge Kral. "The regional court ruled that Kral's verdict was wrong, which in the language that judges use is a very strong criticism," says Juraj Javorsky, deputy editor of the Sme broadsheet. "But I doubt that Kral views it as a defeat. Because the six months that he managed to delay the 'Gorilla' book for were probably enough to achieve his purpose." Gorilla file fact box Gorilla was a court-sanctioned surveillance operation that ran from December 2005 to August 2006 In a bugged flat in downtown Bratislava, and in rotating meetings, an economy minister, a senior civil servant, a future prime minister (then in opposition), a corporate raider, and several current and former elite police officers allegedly discussed millions of euros in kickbacks for rigged privatization sales of state property, as well as influence over police investigations of top-level corruption cases While politicians from various parliamentary parties were implicated, blame fell mostly on the SDKU party of Mikulas Dzurinda, which was in power when the transcripts were made One government minister was alleged to have received 10 million euros in kickbacks for six months' work The Penta financial group was alleged to have financed millions of euros in bribes to secure the support of renegade MPs after the Dzurinda government almost collapsed in summer 2005; in return, Penta was allegedly allowed free rein in arranging cabinet-approved privatization tenders The surveillance operation was cancelled in August 2006 by the incoming Robert Fico government, allegedly because knowledge of it was leaked Until the formation of a special police task force in 2012, the file was investigated three times, with little vigour; no charges have been laid |
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| 10. Turkey climbs to 6th most popular tourist destination in the world |
| Balkans.com |
| June 26, 2012 Turkey has climbed to become the 6th most popular tourist destination in the world, according to the World Tourism Organization's (UNWTO) "Tourism Highlights 2012" report. The country is the only destination in the top 10 list that rose in rank in 2011. A major holiday destination in the Mediterranean region, Turkey saw 29.3 million international arrivals in 2011, displacing Britain to become the 6th popular destination in the world. The country is becoming increasingly popular for tourists from the Middle Eastern countries, as well as Europeans, and is foreseen to enter top 5 tourism destinations over the next 10 years. |
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| 11. BSEC summit kicks off in Istanbul with a new regional vision |
| Hurriyet Daily News |
| June 26, 2012 The heads of states and political leaders from 12 member countries of the Black Sea Economic Cooperation convene in Istanbul for a summit marking the 20th anniversary of the organization. The summit will focus on sustainable development, sustainable growth, energy, climate change and political dialogue Leaders of the member countries of the Organization of the Black Sea Economic Cooperation (BSEC) are set to convene at a summit in Istanbul to commemorate the 20th anniversary of the BSEC today. During its presidency starting July 1, Turkey is preparing to submit a new vision paper to enhance political dialogue in the Black Sea region, seeking to address the frozen conflicts that hinder economic progress amongst the member states of the BSEC, a senior official from the Turkish Foreign Ministry has said. Turkey and Serbia, the current president, co-chair the Istanbul event. "When you talk about economic cooperation, you also need to have a certain level of political dialogue amongst the member states ... However, frozen conflicts are hindering economic progress and economic cooperation," the official said. Today's summit will be co-chaired by Serbia and Turkey, the two consecutive chairmanships-in-office of the BSEC during 2012. Turkish President Abdullah Gl, Azerbaijani President _lham Aliyev, Georgian President Mikheil Saakashvili, Moldovan President Nicolae Timofti, Serbian President Tomislav Nikolic, Bulgarian Prime Minister Boyko Borissov and Russian Deputy Prime Minister Olga Golodets are amongst the participants. Armenia will participate in the summit at deputy foreign ministerial level. Ahead of the summit meeting, which will take place in the afternoon, a special session of the council of ministers of foreign ministers is planned, as well as parallel events. Turkish Prime Minister Recep Tayyip Erdo_an is scheduled to host a luncheon, and Turkish President Abdullah Gl will join the event in the afternoon. The Tekfen Black Sea Philharmonic Orchestra will perform a concert as part of the opening ceremony of the summit. A new vision "The BSEC should also enhance political dialogue. We are planning to mark a new vision in our chairmanship. Everybody should have the right to be heard. We should be able to discuss every issue in the long run," the foreign ministry official said. The summit will focus on sustainable development, sustainable growth, energy, climate change and political dialogue. Energy is another important issue. The Black Sea is a major energy route. "We also need to cover the climate issue at a regional level," he added. The governments of BSEC member states, observers and sector dialogue partners, as well as several international and regional organizations have been invited to the summit. In parallel with the summit, several side events such as parliamentarian forums, academic and NGO forums, and business forums are also planned. Currently, there are two important projects of the BSEC ongoing: the Black Sea ring highway and the motorways by the sea. The ring highway - which will have a length of 7,700 kilometers and which will make it able to travel the whole way round the Black Sea - is particularly important for intensifying relations among all sectors, the official said. Other issues that are on the agenda are visa facilitation for lorry drivers and unemployment, which is widespread across the young population of BSEC countries. A declaration will be announced at the end of the summit |
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| 12. Turkish business associations will support Bursa to establish its own ferry firm |
| Balkans.com |
| June 25, 2012 Local business associations have put their support behind the efforts of Bursa Metropolitan Municipality to establish its own ferry firm between the Mudanya district of the province and Istanbul as it claims that _DO, Istanbul's ferry company, abuses its monopoly position in marine transport in the Marmara Sea. Celal Snmez, the president of the Bursa Trade and Industry Chamber, said Bursa's ferry firm will bring competition and higher quality to the marine transportation between Istanbul, which is the locomotive of the economy, and Bursa, which is a major industrial province, Bursa Hakimiyet, a local newspaper, reported over the weekend, Hurriyet Daily reports. |
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| 13. Turkey targets unions in raids against alleged Kurdish sympathizers |
| bne |
| June 25, 2012 Turkish police have charged 71 people, including a number of union leaders, with membership of the Kurdistan Communities Union (KCK) - the urban wing of the outlawed Kurdistan Workers' Party (PKK) - following a series of raids across the country on June 25. Lami Ozgen, president of the Confederation of Public Sector Trade Unions (KESK) and Kasm Birtek, Diyarbakr branch director for left-wing teachers' union Egitim-Senare, are amongst those detained on the orders of the Specially Authorized Ankara Public Prosecutors' Office, reports Hurriyet Daily News. The raids are a government operation, Egitim-Sen President Unsal Yldz insisted, adding that his union's activities on education were a source of concern for the government. "Those who think that similar operations will put pressure on our union are mistaken," he said. Police launched the operations in 11 provinces, including Ankara, Eski_ehir, Aydn, Hakkari, Adana, _zmir, Siirt and Diyarbakr in the early morning, including a 6 a.m. raid on KESK's headquarters in Ankara, as well as a 5:30 a.m. raid on Egitim-Sen's Diyarbakr branch. Birtek was detained after an hour-long search. Law enforcement officers also confiscated documents from the Siirt branches of the Human Rights Association (_HD) and Egitim-Sen. What we see in the middle of Ankara is a scene from a coup. These operations, which were conducted using the judiciary, aim to suppress the opposition, but we will keep on standing against them, said Sezgin Tanrkulu, the deputy leader of the Republican Peoples Party (CHP), adding that the raids only aim was to oppress opponents of the government. |
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| 14. Aditya Birla is planning to expand its investments in Turkey |
| Balkans.com |
| June 26, 2012 India-based multinational Aditya Birla is planning to expand its investments in Turkey, head of Turkey's official investment promotion agency has said. "Aditya Birla is preparing for a second investment project in Turkey worth USD 500 million.." Investment Support and Promotion Agency of Turkey (ISPAT) President Ilker Ayci told reporters in Boston, USA where he is attending the 2012 BIO International Convention. The new investment will raise the company's total investments in the country to more than USD 1 billion, he added. World's leading viscose staple fiber producer had announced the building of a production plant for USD 510 million in Adana province late last year. "Biotech event has been extremely fruitful in attracting attention to Turkey's pharmaceutical industry..", the ISPAT President said when talking about the country's investment atmosphere in general. "Biotech convention is strategically important for us as Turkey is among the top 5 pharma markets in the world. Turkish companies such as Nobel Ilac and Abdi Ibrahim received a large number of meeting requests from possible investors during the event.." he added. Turkey's growing pharmaceutical sector ranks 6th in Europe and 14th in the world in size and foreign interest to the market has been high. Last April, US biotechnology company Amgen acquired local generics manufacturer Mustafa Nevzat for USD 700 million. Turkey is also eyeing more foreign investments in other critical sectors such as automotive, Ayci noted. Germany's VW Group is clearly aware of Turkey's potential in this regard and the Agency is in contact with the company about a possible investment in Turkey, the ISPAT President said without providing further details. "ISPAT is working all over the world to promote Turkey's new incentive system..", he added. Turkey's new investment incentive scheme covers sectors that depend heavily on imports and promotes local production in energy, petrochemicals, automotive. It includes supports aimed specifically at auto makers such as; a car maker planning to produce at 100,000 vehicles a year is given the right to import goods free of customs tax for 15 percent of their capacity. |
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| 15. PE firm Cinven agrees purchase of Turkish alarm maker |
| bne |
| June 25, 2012 European private equity firm Cinven announced it has reached an agreement to acquire a majority stake in Pronet Guvenlik, a leading provider of security electronic alarm systems in Turkey, on June 25, reports Reuters. Cinven said Pronet had been acquired from its institutional shareholders including Turkish Private Equity Fund I L.P., advised by Turk Ventures Advisory Limited and Dutch Development Bank (FMO). The transaction is subject to regulatory clearances and it is expected to close during the summer. The value of the deal was not disclosed. |
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| 16. Turkish Airlines denies claims of imminent bid for Aer Lingus |
| Balkans.com |
| June 26, 2012 Turkish national carrier Turkish Airlines may be a potential bidder for Aer Lingus, just days after rival Irish airline Ryanair made a surprise buyout bid, according to a report in the Sunday Business Post. Turkish Airlines is assessing Ireland's 75-year-old former flag carrier and is "very interested," according to sources. However, Turkish Airlines said in a written statement yesterday that the board had not yet made any decisions regarding the acquisition of Aer Lingus, according to the Anatolia news agency. Aer Lingus has declined to comment on the report. Turkish Airlines is one of several international airlines looking at Aer Lingus, according to the report. Abu Dhabi's Etihad, which already owns a 3 percent stake, has long been cited in the media as a possible bidder for the government's 25 percent stake, Hurriyet Daily reports. |
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