TR Economy & Updates

[Ryder]

Netherlands literally feeds the world, this is soft power. Desert country Israel becomes a agricultural giant using smart management.
While some people in our country make fun about "saman" and import food from foreign countries our farmers are dying financially even though we have fertile soil, water and perfect weather conditions. Another unused potential of our country...

"The Netherlands is one of the world's largest agricultural producers, exporting 65 billion Euros worth of vegetables, fruit, flowers, meat and dairy products each year."

https://twitter.com/i/web/status/1369907682849734662

Honestly how many Turks are willing to become farmers and continue this generational job.

Most it seems are flocking to cities and universities.

Either we use technology like robots to remedy this problem or agriculture is going collapse.

 

[CAN_TR]

Honestly how many Turks are willing to become farmers and continue this generational job.

Most it seems are flocking to cities and universities.

Either we use technology like robots to remedy this problem or agriculture is going collapse.

That no one wants to be a farmer is not true, there are a lot of children of farmers who would continue their ancestors job but it's not profitable for them that's why they move to the big cities, my grandfather for example has a shit ton of hazelnut trees yet stopped harvesting them because a lot of work and in the end no profit. It's not worth the work.

Like every job in Turkey, work hard and long but in the end get crumbles or how i would say it "ücün biri".

 

[Fairon]

Actually lot of people planing to become a farmer because of retiring at the private sector is became almost impossible.(working after 50 with a good income is not very likely for most people)
IMHI if the farming became profitable again and the economy allows it(at the moment it is very hard to raise enough capital) we will see lots people to move farming sector.

 

[Ryder]

That no one wants to be a farmer is not true, there are a lot of children of farmers who would continue their ancestors job but it's not profitable for them that's why they move to the big cities, my grandfather for example has a shit ton of hazelnut trees yet stopped harvesting them because a lot of work and in the end no profit. It's not worth the work.

Like every job in Turkey, work hard and long but in the end get crumbles or how i would say it "ücün biri".

Damn that really sucks!!!

 

[Glass🚬]

https://twitter.com/i/web/status/1369909256489680903

^xiaomi is my fav phone brand. I plan to get the mi 11 ultra

-----

Turkish entrepreneur looks to build London-Istanbul fintech bridge​

BY DAILY SABAH​

ISTANBUL FINANCE
MAR 11, 2021 12:54 PM GMT+3

People walk through the Canary Wharf financial district of London, Britain, Dec. 7, 2018. (Reuters Photo)


Traditional banks that have long reigned over the financial services industry with a significant profit margin for their services have been facing the ever-changing tech landscape and the quest for minimizing costs has paved a new way: a powerhouse known as financial technology (fintech). Specializing in the field, a Turkish entrepreneur, who received his degree in the United Kingdom, aims to establish a bridge between Turkey and the U.K.’s banking and fintech sectors with his London-based fintech company.
Cengizhan Ayan graduated from Kings College and completed a fintech program at Oxford University's Said Business School before deciding to establish Moneyme. The London-based firm is aimed at operating across the globe, giving priority to Ayan’s home country, Turkey. Moneyme plans to be plugged into a growing network of U.K., European, Turkish and global payment rails, such as Bacs, CHAPS, SEPA, Direct Debit, VISA, Mastercard and Swift, which will enable customers, through a single application program interface (API), to automate payment flows, embed payments into their own customer experiences and launch payment services "out of the box."
“My main objective is to create a formidable affiliation between London and Turkey. I will be looking to leverage and benefit from the strengths of the established Turkish banking system,” he said, as well as the U.K.’s financial sector, which is dubbed the main driver of the country’s economic recovery from the COVID-19 pandemic. The Office of the Mayor of London claims that 40% of the London workforce is made up of financial and technology services alone.
Meanwhile, according to the "FinTech Ecosystem in Turkey" report, which was prepared in collaboration with Deloitte, BKM and FinTech Istanbul, the fintech market in Turkey is growing rapidly and investments in this area are expected to increase. The number of fintech investments in Turkey, which was $4.6 million (TL 34.29 million) in 2012, grew by 175% in 2016, reaching $29 million.
The overall size of the fintech market in Turkey, with more than 200 companies, is currently estimated to be worth $15 billion and growing at an annual average of 14%. According to Ayan, despite the rapid growth and development, the relatively new field of financial technologies in Turkey has not yet reached the optimum size.


“This highlights the high potential of the fintech industry in Turkey with 56.24 million smartphone users which is an indication for the industry,” he said.
In the U.K., fintech investments climbed 3.8%, to $2.7 billion, led by a 5.3% gain in funding to startups of $1.1 billion and a 66% jump in insurtech deals to $212 million, according to a 2020 report from Accenture. The U.K. is home to about 1,600 fintech companies, a number expected to more than double by 2030, with fintech accounting for about 8% of the U.K.’s total financial services output, according to official data.

Turkish entrepreneur looks to build London-Istanbul fintech bridge

Traditional banks that have long reigned over the financial services industry with a significant profit margin for their services have been facing the...

www.dailysabah.com

 

[Saithan]

Exceeding forecasts, Turkey’s industrial output jumps 11.4%

Turkish industrial output jumped 11.4% year-on-year in January, exceeding forecasts and expanding for an eighth straight month in an economic rebound after...

www.dailysabah.com

I like this kind of news, industrial output is what will provide jobs and production. This is also what has been a doctrine for Germany ever since WW2, and still is.

I read an article this week that Denmark needs 99.000 vocational school graduates, which is pretty much what the entire Europe is looking for.

A Radiation Technician from Turkey could be full time employed in Denmark if they had EU passport. a salary of aprox. 35k a month isn't bad (before tax etc.).

 

[mulj]

Honestly how many Turks are willing to become farmers and continue this generational job.

Most it seems are flocking to cities and universities.

Either we use technology like robots to remedy this problem or agriculture is going collapse.

eco food farmers related to the willage tourism could be thing, lot of money and synergetic effect in that niche of agricultural/toursim industry, but proper programs and monitoring is mandatory for success .

 

[Saithan]

New reform plan to lift economy, help tame inflation: Erdoğan

President Recep Tayyip Erdoğan on Friday outlined a series of measures that he said would lift the country's economy, as he pledged to bring inflation...

www.dailysabah.com

eco food farmers related to the willage tourism could be thing, lot of money and synergetic effect in that niche of agricultural/toursim industry, but proper programs and monitoring is mandatory for success .

I think people who would want to do it will invest in property and even lease out the farm lot to people to wants to work it.

Of course the farmers would gain the benefits from farming the land while the owner would get a small substantial amount. e.g. let's say aproximately 300-800 USD a month or equivalent.

I honestly don't know if that is too much, but perhaps @anmdt can shed some light on whether that would be too much.

 

[mulj]

New reform plan to lift economy, help tame inflation: Erdoğan

President Recep Tayyip Erdoğan on Friday outlined a series of measures that he said would lift the country's economy, as he pledged to bring inflation...

www.dailysabah.com

I think people who would want to do it will invest in property and even lease out the farm lot to people to wants to work it.

Of course the farmers would gain the benefits from farming the land while the owner would get a small substantial amount. e.g. let's say aproximately 300-800 USD a month or equivalent.

I honestly don't know if that is too much, but perhaps @anmdt can shed some light on whether that would be too much.

beside real estates improving that kind of bussiness boost lot of small manufactory shops with home made food, drink, textile, various crafts etc, in this modern era lot of educated city people goes in those kind of ventures but as i sad some state sponsored vision and proper support in education is must be for wider sucsess.

 

[what]

The planned economic reforms and policies have been announced.

https://ms.hmb.gov.tr/uploads/2021/03/Ekonomik-Reformlar-Kitapcigi.pdf

Sounds good, but my Economics prof would say that they are not detailed enough: When will these targets be reached, how and what are the exact targets?

 

[Saithan]

The planned economic reforms and policies have been announced.

https://ms.hmb.gov.tr/uploads/2021/03/Ekonomik-Reformlar-Kitapcigi.pdf

Sounds good, but my Economics prof would say that they are not detailed enough: When will these targets be reached, how and what are the exact targets?

And danish politicians would say, was this action plan created with the cooperation of other political parties, if not, what guarentee do we have that they won't change direction when government changes....

Turkish turnover index soars 30.2% in January

The Turkish economy saw a 30.2% annual rise in total turnover in January, according to the latest data released on Friday.The industry and trade sectors...

www.dailysabah.com

 

[what]

And danish politicians would say, was this action plan created with the cooperation of other political parties, if not, what guarentee do we have that they won't change direction when government changes....

Turkish turnover index soars 30.2% in January

The Turkish economy saw a 30.2% annual rise in total turnover in January, according to the latest data released on Friday.The industry and trade sectors...

www.dailysabah.com

Turkish governments and cooperating with the opposition? We're talking about a government that will decline opposition motions, just to introduce the same one months later.

 

[Nilgiri]

The planned economic reforms and policies have been announced.

https://ms.hmb.gov.tr/uploads/2021/03/Ekonomik-Reformlar-Kitapcigi.pdf

Sounds good, but my Economics prof would say that they are not detailed enough: When will these targets be reached, how and what are the exact targets?

Could we get a short summary in English of the main salient points?

 

[what]

Could we get a short summary in English of the main salient points?

Check out this Twitter feed: https://twitter.com/MarkABentley and this articlesfor the lack of alternatives

Turkey's Erdogan targets inflation, state finances in economic reform plan

President Tayyip Erdogan said he would focus efforts to reform Turkey's economy on bringing down double-digit inflation and tightening state finances, under a keenly awaited package he unveiled on Friday.

www.reuters.com

Its a bit long to summarize quickly, but to summarize the 5 main points:
- fiscal policy tightening
- price stability
- support for exports especially for SME to close the current account deficit
- some liberation of the finance sector, to make room for digitalization and fintechs
- and creating more jobs

 

[Bogeyman]

Capacity of Turkey’s largest port to be expanded​

The capacity of a port in Turkey’s southern Mersin province will be expanded from 2.8 million to 3.6 million twenty-foot equivalent unit (TEU), according to the country’s Transport and Infrastructure Ministry.

After completion of the expansion work, two mega container ships with a length of 400 meters (1,312 feet) will be able to dock at the same time at the Mersin International Port.

The wharf capacity will also be increased by 1 million TEU to reach 1.8 million TEU.

The expansion project will be launched on Saturday with a ceremony to be attended by Transport and Infrastructure Minister Adil Karaismailoglu.

According to information obtained by Anadolu Agency from the ministry, Mersin International Port is Turkey’s largest port with a surface area of 112 hectares (277 acres).

The port, which is one of the main container ports in the Mediterranean region with its transit and hinterland connections to the Middle East and Black Sea, also ranked 97th among the world’s largest container ports.

It meets a significant part of Turkey’s export and import, with its modern infrastructure and equipment, largest storage areas, trained human resources and proximity to the free trade zone.

Capacity of Turkey’s largest port to be expanded

Two 400-meter mega container ships will be able to dock at same time at Mersin International Port - Anadolu Ajansı

www.aa.com.tr

 

[Turko]

Check out this Twitter feed: https://twitter.com/MarkABentley and this articlesfor the lack of alternatives

Turkey's Erdogan targets inflation, state finances in economic reform plan

President Tayyip Erdogan said he would focus efforts to reform Turkey's economy on bringing down double-digit inflation and tightening state finances, under a keenly awaited package he unveiled on Friday.

www.reuters.com

Its a bit long to summarize quickly, but to summarize the 5 main points:
- fiscal policy tightening
- price stability
- support for exports especially for SME to close the current account deficit
- some liberation of the finance sector, to make room for digitalization and fintechs
- and creating more jobs

In addition son-in-law will be minister of energy. He isn't allowed to involve in financial issues no more in order not to bankrupt central bank again.

'I wouldn't know the difference': First ever lab-grown chicken nuggets

Demand for sustainable meat alternatives is on the rise. But these nuggets aren't plant-based, they're lab-grown.

www.euronews.com

Singapore approves lab-grown 'chicken' meat

The city state is the world's first country to approve Eat Just's "breakthrough" chicken nuggets.

www.bbc.com

Look at Singapore
Future of food industry seems to be bounded with laboratories.

Lab grown meet in 5 year future will be as cheap as usual chicken meat.

Growing meat in laboratories , doesn't require feed for chickens.
In order to feed 80 billion chicken every year , we pollute environment and atmosphere. Producing fertilizers and feed increasing carbon emissions.
Nonetheless current conventional farming processes too complicated and time consuming.
I found laboratory grown meet might reduce global femine and starvation.

Türkiye shouldn't miss this strategic realm while Turkish people struggling with expensive meat prices. This could transform Turkish farmers into workers of industry high tech laboratories.

Cultured meat - Wikipedia

en.wikipedia.org

 

[Saithan]

Turkey cuts costs with local version of COVID-19 drug favipiravir

A group of scientists has developed a local synthesis of favipiravir, a drug commonly used to treat COVID-19. Associate professor Mustafa Güzel, who is...

www.dailysabah.com

Aprox 4,5 mio pills a month. Not bad tbh. If you can manage to get necessary ISO export it to EU too especially Denmark with the wellfare system you have guarenteed profit.

 

[Huelague]

Netherlands literally feeds the world, this is soft power. Desert country Israel becomes a agricultural giant using smart management.
While some people in our country make fun about "saman" and import food from foreign countries our farmers are dying financially even though we have fertile soil, water and perfect weather conditions. Another unused potential of our country...

"The Netherlands is one of the world's largest agricultural producers, exporting 65 billion Euros worth of vegetables, fruit, flowers, meat and dairy products each year."

https://twitter.com/i/web/status/1369907682849734662

It’s over 100 billion Euro.

 

[Glass🚬]

In addition son-in-law will be minister of energy. He isn't allowed to involve in financial issues no more in order not to bankrupt central bank again.

View attachment 15944

'I wouldn't know the difference': First ever lab-grown chicken nuggets

Demand for sustainable meat alternatives is on the rise. But these nuggets aren't plant-based, they're lab-grown.

www.euronews.com

Singapore approves lab-grown 'chicken' meat

The city state is the world's first country to approve Eat Just's "breakthrough" chicken nuggets.

www.bbc.com

Look at Singapore
Future of food industry seems to be bounded with laboratories.

Lab grown meet in 5 year future will be as cheap as usual chicken meat.

Growing meat in laboratories , doesn't require feed for chickens.
In order to feed 80 billion chicken every year , we pollute environment and atmosphere. Producing fertilizers and feed increasing carbon emissions.
Nonetheless current conventional farming processes too complicated and time consuming.
I found laboratory grown meet might reduce global femine and starvation.

Türkiye shouldn't miss this strategic realm while Turkish people struggling with expensive meat prices. This could transform Turkish farmers into workers of industry high tech laboratories.

Cultured meat - Wikipedia

en.wikipedia.org

View attachment 15941
View attachment 15942
View attachment 15943

That type of meat might be the future of the Turkish meat market. I have some toughts about creating a company in that direction in Turkey.

 

[Saithan]

Turkish ministry revokes mining license of Alamos Gold - Latest News

The Agriculture and Forestry Ministry has revoked the mining license of Alamos Gold, a Canadian-based intermediate gold producer, on the grounds that the firm’s license to mine gold in Kaz Mountains was not extended.

www.hurriyetdailynews.com

Let's hope area get's reforested again, though I assume the gold fever might cause more damage, and more attractive... At least keep the minin job in Turkish hands.