Chinese machinery maker Shandong Heavy Industry Group is set to buy a controlling stake in debt-laden Italian yachtmaker Ferretti in a deal worth about $500 million, sources close to the deal said on Friday.
The deal is expected to be signed on Tuesday in Jinan, capital of China's eastern Shandong province, they told Reuters.Tags: Shandong Heavy, Ferretti, China
Citizens go on vacation exodus for Ramadan holiday
Citizens will soon be hitting the road, air and sea for a well-deserved vacation for the Ramadan holiday. Over 450 buses and almost 400 flights have been scheduled for the holiday week.
New Turkish c.bank gov makes surprise RRR hike
Turkey's central bank raised lenders' required reserves on Thursday in a surprise move that boosted government bonds and pared rate hike expectations, and which markets took as a clear statement of intent from its new governor.
Red card for stock exchange hit
The second mega operation into manipulation of the stock exchange has resulted in 35 arrests, including a number of former football players, as well as the freezing of 45 individuals’ accounts.
Airplanes for rent for 300 liras an hour
THK Gökçen Aviation has reached an agreement with Italy’s Tecnam to rent out ultralight aviation airplanes at an hourly rate of 250-300 lira. Interest in the airplanes is expected to come from amateurs, those in the tourism industry and industrialists for mapping purposes.
Fenerbahçe says Champions League-related loss will be 25 million Euros
Turkish soccer champions Fenerbahçe's loss of revenues due to its exclusion from this season's Champions League will amount to around 25 million Euros ($36 million), it said in a statement to the Istanbul Stock Exchange.
S&P says Turkey's rating depends on policy choices
Ratings agency Standard and Poors (S&P) said on Monday a potential upgrade of Turkey's sovereign ratings would depend on the re-lected government's fiscal and monetary policy choices and the impact on the country's widening current account deficit.
Turkey provides ‘water of life’ for Cyprus
Turkey will soon provide a solution to the water issue suffered by our beloved Northern Cyprus.
Sarkozy pays the price in satellites
The secret behind Sarkozy’s lightning-speed trip to Turkey has been uncovered: when a French firm did not win Turkey’s satellite tender, Sarkozy’s scheduled two day trip was cut down to just six hours.
Turkey's lira weakens to 2.10 against euro/dollar basket
Turkey's lira weakened to 2.10 against a euro/dollar basket on Thursday after a wave of policy measures by the Turkish Central Bank, including a cut to its key policy rate.
Sabanci sells Akbank stake
Shares in Turkish lender Akbank (AKBNK.IS) fell sharply after stakeholder Demir Sabanci said he had applied to sell 91.23 million nominal shares in the lender.
The Turkish Trump
A Turkish businessman, who spent millions of dollars on real estate last year in the United States, is now planning to build the tallest building in Dallas. Referred to by Americans as Mike, Mükemmel Sarımsakçı will be demolishing the high-rise on Elm Street he purchased for 30 million dollars. In its place, Sarımsakçı plans to build the city’s highest residence building for 125 million dollars.
Gaddafi's son states government will not destroy Libya oil supplies
The government of Muammar Gaddafi will never resort to destroying Libya's oil wealth in its fight to put down an insurrection, the Libyan leader's son Saif al-Islam told a Turkish news on Friday.
Turkish bank profits to fall 20 pct
Turkey's banks warned profits will fall by 20 percent this year and they will charge customers more for loans as a result of the central bank's moves to rein in soaring credit growth.
Turkcell's new smart phone for 419 TL
Turkcell's new smart telephone, the T20 is now for sale at 419 TL. The T20 can be used with either a smart card or mobile wallet technology. Turkcell General Manager Ciliv states, "We are expecting sales in the 100,000’s.”
