TR Economy & Updates

[Saithan]

Turkish central bank sold nearly $7.28B in 5 market interventions

Turkey’s central bank sold around $2.12 billion (TL 29.36 billion) during its direct market intervention on Dec. 17 to support the Turkish lira, it said...

www.dailysabah.com

 

[Saithan]

Turkish salmon exports up 132% to $130M in 2021

Turkey's salmon exports increased by 132% in 2021 compared to the previous year and reached $130 million (TL 1.8 billion).Rainbow trout, which is...

www.dailysabah.com

I hope the aquaculture is being done more responsibly than in Norway.

 

[Kartal1]

Brothers and sisters please refrain from personal attacks. Thank you!

 

[Huelague]

What’s our GDP growth in 2021.

 

[Saithan]

Oppo confirms job cuts at its Turkey factory over 'rising costs'

Releasing a statement on Monday about reported layoffs at its factory in Istanbul’s Tuzla, the Turkish arm of Chinese smartphone maker Oppo said that...

www.dailysabah.com

I spoke with an engineer from COWI who has projects in Africa some times ago and he said that the Chinese aim for 10-15+% return on investments.

So the layoffs are not surprising me at all. Because the Chinese are not necessarily in Turkey for the long term goal. They're just using these companies to gain better foothold for other objectives. Same goes for Arabs and such. Only the western countries has been involved in Turkey for the longest time.

Which is why many before me has said that you can't build long term interests and friendships in short time. But you can throw out long term friendships in very short time.

 

[Lool]

Oppo confirms job cuts at its Turkey factory over 'rising costs'

Releasing a statement on Monday about reported layoffs at its factory in Istanbul’s Tuzla, the Turkish arm of Chinese smartphone maker Oppo said that...

www.dailysabah.com

I spoke with an engineer from COWI who has projects in Africa some times ago and he said that the Chinese aim for 10-15+% return on investments.

So the layoffs are not surprising me at all. Because the Chinese are not necessarily in Turkey for the long term goal. They're just using these companies to gain better foothold for other objectives. Same goes for Arabs and such. Only the western countries has been involved in Turkey for the longest time.

Which is why many before me has said that you can't build long term interests and friendships in short time. But you can throw out long term friendships in very short time.

Agreed
China always had plans to dominate the world economy through cheap products. Turkey having a low lira is actually a catastrophe in the short term for the Turks and in the long term for the Chinese
Since Turkish products are of superior quality to most chinese products, if the turkish products became even cheaper than thr ones the Chinese produce, then China will be kicked out of the European, Middle Eastern, African, American (North and South), and some competition against Chinese ones in Asia. This is a catastrophe for China's long term plans. Not only China though, but also countries like Egypt and India are suffering a bit since the low lira may impede their own plans of becoming China's alternative to the West in the long term

Oppo is investing in Turkey temporarily to preserve its market share in the regions pre-mentioned above! The moment the lira improves with interest rate hikes, the moment the Chinese will just quickly escape Turkey and continue production from China itself; thus, Chinese companies arent losing anything. Them laying off workers is just a means to reduce costs since they dont want to increase their product price as other competitors may then engulf a part of their market shares

Which is why many before me has said that you can't build long term interests and friendships in short time. But you can throw out long term friendships in very short time.

This isnt a political forum but I do wanna say that the ones who threw out these long term friendships werent the Turks but the West themselves. Current political problems between Turkey and the West is mainly due to the Superior Western race ideology that makes them deny the rights of the other party as long as they arent Western themselves; such as the turks

Moreover, Western investments remain in Turkey till this day regardless of the current political backlash is due to the fact that if the West pulls from Turkey, then significant Western shares in Africa and Middle East will be engulfed by China. Western companies like Peugeot etc.. are gaining billions of dollars annually from the fact that the lira was always weaker than the Euro since having companies in EU would mean more costs since they will pay for salaries in euro etc... and less sales since the euro is way too strong compared to Middle Eastern countries' currency.

THUS, all in all, every foreign investment in Turkey whether its from the West or the East, wasnt, isnt, and will never be based on fantasy terms like friendship but on more materialistic stuff like money and profits!

If the lira went back to being 1.5 against a dollar, then I can bet everything on the fact that most of Western investments may just get out of Turkey

 

[Lool]

It seems we found the silver lining during the current economic problems

https://twitter.com/i/web/status/1480897297546424323

 

[Saithan]

MKE AŞ Çalışanlarının Ücretlerinde Önemli Artış - C4 Defence

15 Ocak 2022 tarihinden itibaren geçerli olmak üzere saat ücretlerinde ilave iyileştirme yapılması yönünde karar alınmıştır.

www.c4defence.com

MKE employees salary hiked up.

 

[Nilgiri]

Fairly good summary of the last few scores of pages here:

Turkey is one of the largest economies in the world and was up until recently growing rapidly every year. Why is it now driving itself into a hyperinflation crisis?

 

[Xenon54]

Fairly good summary of the last few scores of pages here:

Turkey is one of the largest economies in the world and was up until recently growing rapidly every year. Why is it now driving itself into a hyperinflation crisis?

Just watched it, the summary is basically that Turkey has everything for a good growth with a solid basis, you really must be retarded to fuck it up.

 

[Xenon54]

It seems we found the silver lining during the current economic problems

https://twitter.com/i/web/status/1480897297546424323

Yeah sure, if only the public transport was sufficient enough.

 

[LordAragon]

Sorry, may I know list of turkish commercial products that are superior than chinese ones? Do turks have alternatives to likes of xiaomi, huawaei or any phone from BBK groups? Or do turks have any local automotive industry or maybe produce train and hsr that can rival the chinese?

Agreed
China always had plans to dominate the world economy through cheap products. Turkey having a low lira is actually a catastrophe in the short term for the Turks and in the long term for the Chinese
Since Turkish products are of superior quality to most chinese products, if the turkish products became even cheaper than thr ones the Chinese produce, then China will be kicked out of the European, Middle Eastern, African, American (North and South), and some competition against Chinese ones in Asia. This is a catastrophe for China's long term plans. Not only China though, but also countries like Egypt and India are suffering a bit since the low lira may impede their own plans of becoming China's alternative to the West in the long term

Oppo is investing in Turkey temporarily to preserve its market share in the regions pre-mentioned above! The moment the lira improves with interest rate hikes, the moment the Chinese will just quickly escape Turkey and continue production from China itself; thus, Chinese companies arent losing anything. Them laying off workers is just a means to reduce costs since they dont want to increase their product price as other competitors may then engulf a part of their market shares


This isnt a political forum but I do wanna say that the ones who threw out these long term friendships werent the Turks but the West themselves. Current political problems between Turkey and the West is mainly due to the Superior Western race ideology that makes them deny the rights of the other party as long as they arent Western themselves; such as the turks

Moreover, Western investments remain in Turkey till this day regardless of the current political backlash is due to the fact that if the West pulls from Turkey, then significant Western shares in Africa and Middle East will be engulfed by China. Western companies like Peugeot etc.. are gaining billions of dollars annually from the fact that the lira was always weaker than the Euro since having companies in EU would mean more costs since they will pay for salaries in euro etc... and less sales since the euro is way too strong compared to Middle Eastern countries' currency.

THUS, all in all, every foreign investment in Turkey whether its from the West or the East, wasnt, isnt, and will never be based on fantasy terms like friendship but on more materialistic stuff like money and profits!

If the lira went back to being 1.5 against a dollar, then I can bet everything on the fact that most of Western investments may just get out of Turkey

 

[Lool]

Sorry, may I know list of turkish commercial products that are superior than chinese ones? Do turks have alternatives to likes of xiaomi, huawaei or any phone from BBK groups? Or do turks have any local automotive industry or maybe produce train and hsr that can rival the chinese?

An old article written in 2015 but may give you a glance on the idea

NY Daily News - We are currently unavailable in your region

www.nydailynews.com

This was a notable conversation about turkish products that may entertain you

What do you think of Turkish origin products, if you compare the Turkish products to European products in terms of quality and price? Wha...

Answer (1 of 5): Brands like Beko, Vestel, and Arçelik are technological good brands. In case you live in Europe, the Beko products you receive are basically the budget models. That's why you might not experience the same quality. General mobile is a Turkish brand. And is a quite decent product ...

www.quora.com

As for Turkish-origin brands , some like Beko, Vestet, and Arcelik are actually pretty good

 

[LordAragon]

An old article written in 2015 but may give you a glance on the idea

NY Daily News - We are currently unavailable in your region

www.nydailynews.com

This was a notable conversation about turkish products that may entertain you

What do you think of Turkish origin products, if you compare the Turkish products to European products in terms of quality and price? Wha...

Answer (1 of 5): Brands like Beko, Vestel, and Arçelik are technological good brands. In case you live in Europe, the Beko products you receive are basically the budget models. That's why you might not experience the same quality. General mobile is a Turkish brand. And is a quite decent product ...

www.quora.com

As for Turkish-origin brands , some like Beko, Vestet, and Arcelik are actually pretty good

That looks good, but still Imho doesn't hold a candle against chinese ones in terms of quality, innovation and competitiveness like what you claimed. What turkey needs are commercially global brands such as samsung, hyundai that keeps innovating and keeps striving for it's quality.

 

[Saithan]

Private sector external debt declines - Latest News

The private sector’s total outstanding loans received from abroad stood at $167.8 billion as of November 2021, decreasing by $5.2 billion compared to the end-2020, the Central Bank has said.

www.hurriyetdailynews.com

 

[Saithan]

Turkey attracts more mobile phone firms​

ISTANBUL​

With an investment of $100 million, Singapore-based Omix joined nearly 15 other firms that produce smart phones in Turkey.
Muzaffer Gölcü, the CEO of Omix, said that the company will be the latest to start producing mobile phones in Turkey.


Omix aims to produce 1 million phones a year as the total production of mobile phones in Turkey is estimated at around 6 million units.

There will soon be new additions to the list of companies manufacturing mobile phones in Turkey to take advantage of the country’s market and proximity to other markets.

Most of the mobile phones produced in Turkey actually arrive in the country in parts and are assembled here.
There is no cell phone that is completely manufactured in Turkey from scratch, which is in fact a method implemented around the world.

World giants such as Samsung and Xiaomi use the phrase “Assembled in Turkey” on their mobile phones., while some companies that started to produce motherboards and other materials in Turkey prefer the phrase “Made in Turkey.”

Currently, phone manufacturers Xiaomi, Oppo, Tecno Mobile, TCL, Realme and Vivo have plans to produce nearly 6 million phones per year in Turkey.

Last year, Turkey imposed a 50 percent special consumption tax on imported smart phones. Locally produced phones are being sold at about half-price of imported ones.

Turkey attracts more mobile phone firms - Latest News

With an investment of $100 million, Singapore-based Omix joined nearly 15 other firms that produce smart phones in Turkey. Muzaffer Gölcü, the CEO of Omix, said that the company will be the latest to start producing mobile phones in Turkey.

www.hurriyetdailynews.com

 

[Saithan]

'FİKİRLER YERİNE KİŞİLERLE UĞRAŞMAYI SEVEN TİPLER UZAKLAŞTIRILMADIĞI SÜRECE…’​

Yıllar içinde Türkçe konuşmayı bilmeyen, meramını anlatacak kelime hazinesi olmayan, dünyadan, ilimden, irfandan, habersiz onlarca Genel Müdür, CEO, Başkan tanıdım. Bazılarıyla doğrudan veya dolaylı çalışmak zorunda kaldım. Hepsinin ortak özelliği sırtlarını dayadıkları siyasi parti, siyasetçi veya işadamının onları taşıdığı gerçeğini gizleyerek sanki başarılı kişilermiş gibi davranmaya çalışıp komik duruma düşmeleri idi. Bazıları hâlâ önemli makamları değersiz varlıklarıyla işgal ediyorlar. Vizyonsuzlukları, küçük hesapları, fikirler yerine kişilerle uğraşmayı seven bu tipler uzaklaştırılmadığı sürece ekonominin düzeleceğini beklemek hayalden öte değil.

Hakan Atilla has written a book on his stay in US prison, and he doesn't seem to hold back on lashing out on the small type of men who seem obsessed with their positions without any qualification. And he says they until those people are removed the economy won't recover.

Hakan Atilla cezaevi günleri kitap yaptı: Zarrab nasıl geçer not aldı, bilmiyorum

Halkbank Genel Müdür Yardımcılığı görevini yaparken 'İran'a yönelik yaptırımları delmek' suçuyla ABD'de tutuklanan Hakan Atilla, 28

www.veryansintv.com

 

[Nilgiri]

Turkey attracts more mobile phone firms​

ISTANBUL​

With an investment of $100 million, Singapore-based Omix joined nearly 15 other firms that produce smart phones in Turkey.
Muzaffer Gölcü, the CEO of Omix, said that the company will be the latest to start producing mobile phones in Turkey.


Omix aims to produce 1 million phones a year as the total production of mobile phones in Turkey is estimated at around 6 million units.

There will soon be new additions to the list of companies manufacturing mobile phones in Turkey to take advantage of the country’s market and proximity to other markets.

Most of the mobile phones produced in Turkey actually arrive in the country in parts and are assembled here.
There is no cell phone that is completely manufactured in Turkey from scratch, which is in fact a method implemented around the world.

World giants such as Samsung and Xiaomi use the phrase “Assembled in Turkey” on their mobile phones., while some companies that started to produce motherboards and other materials in Turkey prefer the phrase “Made in Turkey.”

Currently, phone manufacturers Xiaomi, Oppo, Tecno Mobile, TCL, Realme and Vivo have plans to produce nearly 6 million phones per year in Turkey.

Last year, Turkey imposed a 50 percent special consumption tax on imported smart phones. Locally produced phones are being sold at about half-price of imported ones.

Turkey attracts more mobile phone firms - Latest News

With an investment of $100 million, Singapore-based Omix joined nearly 15 other firms that produce smart phones in Turkey. Muzaffer Gölcü, the CEO of Omix, said that the company will be the latest to start producing mobile phones in Turkey.

www.hurriyetdailynews.com

TR govt should rationalise tariffs and incentives relative to the value-addition.

Right now lot of assembly-heavy investments have just about 10% value addition done (at best).... So 90% of the value (IP, PCB, component fab, battery etc) is offshored and thats a big deal (you end up becoming just final assembly entrepot of re-export or nominal assembler for local market)

i.e After a point continued 50%* level relative incentive (like mentioned in this article as example) gets to be 5 times too much.

i.e focus should be root of the tree and do whatever incentive thats needed to lift + transplant a whole deep supply chain onshore.

That is what India for example is doing with PLI scheme and so on to take effect on global headwinds to spread supply chains away from just China.

*and this seems to have been done only last year....so it seems its early days here for TR approach to this sector.

 

[Saithan]

Turkey, UAE central banks ink $4.7B currency swap deal

The central banks of Turkey and the United Arab Emirates (UAE) have inked a swap agreement with a nominal size of 18 billion UAE dirhams and TL 64 billion...

www.dailysabah.com

Hahahaha.... so sad.

 

[Lool]

Turkey, UAE central banks ink $4.7B currency swap deal

The central banks of Turkey and the United Arab Emirates (UAE) have inked a swap agreement with a nominal size of 18 billion UAE dirhams and TL 64 billion...

www.dailysabah.com

Hahahaha.... so sad.

Hm..... wasnt that to be expected?
I mean all of us knew that would happen when MBZ signed the MoU with Erdo the moment he arrived in Turkey in December