Tuesday 3 March 2015
 
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Turkey

Turkey unveils $3.5bn three-storey tunnel project

Turkey is set to build a three-storey tunnel under Bosphorus Strait in Istanbul at an estimated cost of $3.5 billion, said a report. The 6.5-km-tunnel would provide a road and rail connection between the city’s two sides, cu

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Jumeirah Group to open second hotel in Turkey

Jumeirah Group, a Dubai-based luxury hotel company and a member of Dubai Holding, has signed a management agreement with Targets Investment Turizm Isletmeleri AS to operate a luxury hotel in Bodrum on Turkey’s Aegean coast - its second hot

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Turkey to explore for oil in Iraq's Qandil area

Energy Minister Taner Yildiz said on Monday Turkey will explore for oil in the Qandil region of Iraq and that a move towards disarmament by the outlawed Kurdistan Workers Party (PKK) should pave the way for this to happen. Yildiz

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Libyan PM says Turkey supplying weapons to rival group

Libya's internationally recognised Prime Minister Abdullah al-Thinni said his government would stop dealing with Turkey because it was sending weapons to a rival group in Tripoli so that "the Libyan people kill each other".

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Turkey’s Icdas to build $700m blast furnace

Leading Turkish bar and rod producer Icdas is planning to build a 2,800 cu m blast furnace at Canakkale in western part of the country, at an estimated cost of $600 to $700 million, said a report. The company is currently receivin

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Libya to exclude Turkish firms from contracts

Libya's internationally recognised government has said it will end all contracts with companies from Turkey, a country it has accused of supporting a rival administration. The government of Prime Minister Abdullah al-Thinni di

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Abraaj Group buys into Turkish online retailer

Private equity firm Abraaj Group has bought a minority stake in Hepsiburada.com, one of the largest online retailers in Turkey, from the Dogan family, the Dubai-based firm said on Monday. No purchase price or stake size was given

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Qatar-Japan consortium to study Turkey projects

A group of Qatari state-linked investors and three Japanese power firms have signed an agreement to study the possibility of developing projects in Turkey's Afsin Elbistan region, one of the Qatari firms said in a statement on Sunday.

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Egypt closes airspace, says Libya airport

A Libyan commercial plane bound for Istanbul was forced to return to Tripoli on Tuesday after Egypt banned overflying its airspace, Tripoli airport and the Libyan airline said. Egypt launched air strikes on Monday on suspected tar

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Investcorp buys majority stake in telematics firm

Bahrain-based Investcorp has agreed to acquire a majority stake in Arvento Mobile Systems, a Turkish firm that specialises in vehicle tracking systems, the alternative investment firm said on Tuesday. The founders of the business

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