DIRS.INFO The most relevant business & tech news

☆ Christians in Turkey Pray for Return to the Ruins of Ancient Antioch
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Burcu Karakas and Ceyda CaglayanANTAKYA, Turkey (Reuters) - The Antioch Greek Orthodox Church brought Christians together in Turkey's Antakya for centuries until last year, when an earthquake killed dozens of them and sent hundreds more fleeing. Though it now lies in ruins, many pray it will again bring them back. The deadliest disaster in modern Turkey's history, the quake killed more than 53,000 people in Turkey and nearly 6,000 in Syria, and left millions homeless. 'PLEASE COME BACK'Some 370 Greek Orthodox families were living in Antakya before the 2023 quake but only 20 remain today, he told Reuters. David Cagan, 53, another member of the local Greek Orthodox community, said it was essential to rebuild the churches.

Persons: Burcu Karakas, Caglayan, Hurigil, Larina Balikcioglu, Antakya, David Cagan, Ali Kucukgocmen, Jonathan Spicer, Gareth Jones Organizations: Church, Orthodox Church Foundation of Antakya, Christian, Hatay Archeology Museum, Antioch Greek, Reuters Locations: Caglayan ANTAKYA, Turkey, Antioch, Antakya, Syria, Israel, Gaza, Ottoman Turks, Hatay, Russian, Hurigil, Mersin province

[1/5] A new building for earthquake survivors is under construction in Diyarbakir, Turkey August 26, 2023. With work underway on a fraction of the planned new buildings in the devastated city of Adiyaman, Kaplan fears a long wait together with his disabled wife and other survivors. One senior government official with direct knowledge of the reconstruction plan said the target could be missed, citing insufficient fresh funding to hold new tenders amid rising costs. They both said the effort had taken a blow when fewer companies bid for the reconstruction tenders after a post-election economic policy U-turn in June sent the currency plunging. "Our budget resources have been prepared for this huge, comprehensive project and can be updated when necessary," Erdogan's office said.

Persons: Stringer, Ismet Kaplan, Tayyip Erdogan, Erdogan, Kaplan, Bayir, Adiyaman, Turkey's, Mehmet Ozhaseki, Arvid Tuerkner, Mert Arslanalp, Erdogan's, Arslanalp, Mehmet Simsek, Simsek, Tahir Tellioglu, Tellioglu, Umit, Ezgi Erkoyun, Nevzat Devranoglu, Jonathan Spicer, Frank Jack Daniel Our Organizations: REUTERS, Rights, Reuters, Union of Chambers of Turkish Engineers and Architects, Coordination Council, European Bank for Reconstruction, Erdogan's AK, Istanbul's Bogazici University, TAG, Construction, Thomson Locations: Diyarbakir, Turkey, Rights ISTANBUL, Adiyaman, Netherlands, Belgium, Syria, Hatay, Malatya, Gaziantep, Istanbul, Ankara

Retail pasta prices rose about 12% this year in Europe and 8% in the United States, according to market research firm Nielsen. CANADA DRYWhen the Prairies turned dry this summer, Canadian farmer Darold Niwa saw hopes of a bumper durum harvest dashed. Durum, the hardest wheat, produces pasta with the prized "al dente" firm texture, unlike soft wheat. In the meantime, Vincenzo Martinelli, president of the durum section of Italian millers association Italmopa, nervously awaits the outcome of the Canadian harvest. "Without Canada, prices will only go up," he said.

Persons: De, Continental Noodles, Vincent Liberatore, Liberatore, Darold Niwa, Jerry Klassen, Philip Werle, There's, Severine, Maisons, Vincenzo Martinelli, Gus Trompiz, Rod Nickel, Emilio Parodi, Ceyda, Julie Ingwersen, Michael Hogan, Caroline Stauffer, David Gregorio Our Organizations: Foods, Nielsen, Grains, CANADA, Prairies, Statistics, Traders, Northstar, European Union, Thomson Locations: Fara San Martino, Italy, PARIS, WINNIPEG , Manitoba, Canada, Turkey, Toronto, Continental, Spain, India, Europe, United States, Oyen , Alberta, durum, Statistics Canada, France, Algeria, TURKEY, Turkish, American, Russia, North Africa, Milan, Ceyda Caglayan, Istanbul, Chicago, Hamburg

☆ Turkey curbs credit card use for foreign travel, in blow to sector
▼ + stars: | 2023-08-01 | by ( Ceyda Caglayan | ) www.reuters.com time to read: +2 min

ISTANBUL, Aug 1 (Reuters) - Turkey's banking watchdog has stopped allowing credit card payments by instalment for foreign travel, such as flights, travel agency fees and accommodation, in a step seen dealing a blow to foreign travel operators. The move, which hit airline shares and was seen as curbing foreign currency outflows, was one of two measures announced by the BDDK watchdog late on Monday, which it said were among coordinated steps to strengthen financial stability. "The logic (of the step) is 'citizens shouldn't go abroad and spend foreign currency'," he said, adding that the foreign travel sector was also being hit by increasing difficulties faced by Turks in securing tourist visas. The credit card move also had an impact on airline share prices, with Turkish Airlines (THYAO.IS) dipping 1.3% and the airline Pegasus (PGSUS.IS) dropping 2.3%. ($1 = 26.9618 liras)Reporting by Ebru Tuncay; Editing by Daren Butler and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Cem Polatoglu, shouldn't, Ebru Tuncay, Daren Butler, Emelia Organizations: Turks, Turkish, Turkish Airlines, Pegasus, Thomson Locations: ISTANBUL

Saatcioglu, the coordinator of Limak International Hotels & Resorts, is one of many in hospitality expecting to see Turkey's economically vital tourism sector recover from a quake that dragged down bookings and hotel stays. The quake has caused tourists to think twice before booking a trip to Turkey, a major Mediterranean holiday destination. "After months of excellent performance, when the country was leading the travel recovery in Europe (after the COVID pandemic), international tourism to Turkey is clearly taking a nosedive," he told Reuters. Despite strong bookings recently across the travel sector in Europe as a whole, Turkey has not been able to regain momentum. On the back of these auspicious March figures, the Turkish government expects to generate $56 billion in tourism revenues this year.

ISTANBUL, March 20 (Reuters) - Turkey halted the transit of Western-sanctioned goods to Russia this month after a year of war in Ukraine and mounting U.S. and European pressure on Ankara for action, a top export official and a diplomat said. "Any goods on that list are blocked from Russia no matter which country they come from," he said. "There was a list of restrictions on re-exports from free trade zones to Russia beginning in March, and an instruction was given," he said. However goods produced in Turkey even with components from other countries can still be shipped to Russia without restrictions, he said. At least $777 million of these products were made by Western firms whose chips have been found in Russian weapons systems.

[1/3] Turkey's President Tayyip Erdogan and Finland's President Sauli Niinisto shake hands during their meeting in Ankara, Turkey March 17, 2023. The parliaments of all 30 NATO members must ratify newcomers. "We have decided to initiate the ratification of Finland's accession process to NATO in our parliament," Erdogan told reporters after meeting with Niinisto, adding he hoped parliament would endorse the bid before May 14 elections. Amid simmering tensions with Sweden, Erdogan signalled in January that Turkey could endorse Helsinki ahead of Stockholm. Washington and other NATO members had hoped the two Nordic countries would join the alliance at a NATO summit set for July 11 in Vilnius.

[1/3] Turkey's President Tayyip Erdogan and Finland's President Sauli Niinisto shake hands during their meeting in Ankara, Turkey March 17, 2023. The parliaments of all 30 NATO members must ratify newcomers. "We have decided to initiate the ratification of Finland's accession process to NATO in our parliament," Erdogan told reporters after meeting with Niinisto, adding he hoped parliament would endorse the bid before May 14 elections. Washington and other NATO members had hoped the two Nordic countries would join the alliance at a NATO summit set for July 11 in Vilnius. Turkey's parliament is expected to ratify Finland before it closes in mid-April ahead of the parliamentary and presidential votes scheduled for May 14.

"With the effect of the earthquake, inflation may now reach somewhere in the range of 40-50%," the government official added, speaking anonymously as he was not authorised to speak publicly on the issue. More than two million people are estimated to have left the quake zone, pushing up rents in other provinces, economists said. ADDITIONAL BUDGETThe quake also gives the government an additional challenge on the budget, long one of the strongest areas of the economy. Net borrowing of up to 661 billion lira ($35 billion) would be possible under the 2023 budget for this year but the official said that now won't be enough. An additional budget will be needed," the official said.

Days after Turkey's worst earthquake in modern history, Erdogan vowed to rebuild the southern disaster zone within a year, an undertaking conservative estimates put at $25 billion and others expect to be far higher. Authorities say more than 380,000 units in 105,794 buildings are in urgent need of demolition or have collapsed, out of 2.5 million structures across the region. "We will rebuild these buildings within one year and hand them back to citizens," he said. They devastated southern Turkey in the dead of winter, with overnight temperatures near freezing, leaving many emergency tents inadequate for the homeless. "FRIENDLY COMPANIES"The bill to rebuild houses, transmission lines and infrastructure is around $25 billion, or 2.5% of GDP, U.S. bank JPMorgan said in a report.

☆ Shoppers lined up outside Aldi stores to buy Logan Paul and KSI's coveted Prime drink. The retailer used a clever strategy to lure customers in.
▼ + stars: | 2023-01-07 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Aldi confirmed it had sold out of Prime just one day after the drink hit its shelves. Aldi used clever strategy to create a notion of scarcity and lure customers in, experts told Insider. Experts say Aldi used a clever strategy to lure in shoppers by create a feeling of exclusivity and notion of scarcity. Logan Paul has 24.6 million Instagram followers and 23.6 million YouTube subscribers, while for KSI those numbers are 12.4 million and 16.1 million respectively. Aldi sold the drink at £1.99 a bottle, and Prime sold 12-packs for £24.99 ($29.60) on its UK website before they sold out.

The 2023 budget includes 4.47 trillion lira ($239 billion) in spending and sees a deficit of about 3.5% of GDP for this year and next. "The annual salary burden is likely to reach approximately 150-180 billion lira, whereas the severance pay burden that will be shouldered by both the public and private sectors may exceed 300 billion lira," he said. A total of 142.9 billion lira has been earmarked for 2023 spending in the farm sector on support programmes and investment payments. SOCIAL AID, OTHER SPENDING:Spending on social aid in the 2023 budget was raised to 258.4 billion lira. Spending on education will be 650 billion lira, while 145.4 billion lira was set aside for support to the real sector.

Search resuls for: "Ceyda"

12 mentions found