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☆ Turkey's Drone Maker Baykar Begins to Build Plant in Ukraine
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Baykar has said it has signed export deals for its TB2 drone with 30 countries. These include Ukraine, Ethiopia, Libya and Azerbaijan since 2018, according to think tank SIPRI. Bayraktar also said the Istanbul-based firm's plans to start production in Saudi Arabia in the next two years were on track. The announcement follows an agreement in July to sell the Bayraktar Akinci, another kind of drone, to Saudi Arabia in what Baykar described as the biggest defence contract in Turkey's history. It also aims to produce the new models of the Kızılelma and the TB3 drones "in the tens," he added.

Persons: Pesha Magid, Baykar, Haluk Bayraktar, Bayraktar, Lockheed Martin, Federico Maccioni, Alexandra Hudson Organizations: Reuters, World Defense, U.S, Lockheed, Saudi Locations: Pesha, Pesha Magid RIYADH, Turkish, Kyiv, Ukraine, Ethiopia, Libya, Azerbaijan, Riyadh, Israel, Gaza, Ukrainian, Istanbul, Saudi Arabia

☆ Turkey's Bayraktar TB2 drones have lost their edge in Ukraine, but the company behind them is still making a big bet there
▼ + stars: | 2023-11-16 | by ( Paul Iddon | ) www.businessinsider.com time to read: +6 min

Turkish-made Bayraktar TB2 drones were a valuable weapon for Ukraine after Russia invaded last year. The TB2 drone has lost much of its utility as Russia's military has adapted to its use, however. AdvertisementA Bayraktar TB2 at a military base in Ukraine in March 2019. Press Office of the President of Ukraine / Mykola Lararenko / Handout/Anadolu Agency/Getty ImagesBaykar has supplied at least 50 TB2 drones to Ukraine to date. Baykar's Bayraktar Akinci drone on display at Istanbul's Ataturk Airport in April.

Persons: —, Haluk Bayraktar, Mykola Lararenko, Col, Volodymyr Valiukh, Ali Bakir, Haluk, Bakir, James Rogers, Rogers, Oguz Yeter, Paul Iddon Organizations: Service, Press, Anadolu Agency, Getty, Ukrainian, Ukraine's Main Intelligence, Business, Baykar, Cornell Brooks School Tech Policy Institute, Istanbul's, Airport Locations: Ukraine, Russia, Turkish, Russian, Kyiv, Ukraine's, Turkey, Ukrainian, Ankara, Syria, Libya, Nagorno, Karabakh, Ethiopia

☆ Saudi Arabia and Turkey are emerging as the new peace brokers of the Russia-Ukraine war
▼ + stars: | 2023-08-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +7 min

Turkish President Recep Tayyip Erdogan welcomes Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud in Ankara, Turkey, on June 22, 2022. "We thank the Crown Prince and Government of Saudi Arabia for facilitating [the prisoner exchange]," Sullivan wrote in a separate post. "Saudi Arabia and Turkey are good examples of such mid-level powers now helping shape international realities in a way they rarely did during the Cold War." And Turkey, like Saudi Arabia, refuses to partake in sanctions against Russia, irking its Western allies. Saudi Arabian Crown Prince Mohammed bin Salman (R) meets Ukrainian President Volodymyr Zelenskyy (L) in Jeddah, Saudi Arabia on May 19, 2023.

Persons: Recep Tayyip Erdogan, Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud, Mustafa Kaya, Russian –, Vladimir Putin, –, Recep Tayyip Erdogan of, Crown Prince Mohammed bin Salman, Volodymyr Zelenskyy, Jake Sullivan, Putin, Sullivan, Hussein Ibish, Russia's Putin, Vilius Semeska, Selcuk Bayraktar, Haluk Bayraktar, Ibish, Saudi Arabia's Crown Prince Mohammed bin Salman, Saudi Arabian Crown Prince Mohammed bin Salman, Erdogan, Mohammed bin Salman, Ryan Bohl, Rane, Ayham Kamel Organizations: Saudi Arabia's Crown, Getty, Crown, Russia, Handout, Anadolu Agency, Twitter, Ukraine –, Prince, Saudi, Gulf States Institute, CNBC, NATO, Defence, Baykar, Saudi Arabian Crown, Saudi Foreign Ministry, Getty Images, Ukrainian, Arab, Russo, East, Global, Eurasia Group Locations: Ankara, Turkey, Xinhua, Russian, Russia, Recep Tayyip Erdogan of Turkey, Saudi Arabia, Kyiv, Ukraine, Ukrainian, Saudi, Jeddah, U.S, China, India, Brazil, Washington, Turkey's, Lithuanian, Istanbul, Turkish, , Washington, North Africa, Riyadh, Middle East

☆ Saudi Arabia buys Turkish drones during Erdogan's visit
▼ + stars: | 2023-07-18 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

Erdogan and Saudi Crown Prince Mohammed bin Salman attended the signing ceremony between Turkish defence firm Baykar and the Saudi defence ministry, Saudi state news agency SPA reported. Erdogan arrived in the Saudi Red Sea city of Jeddah on Monday for the first stop of a Gulf tour. Saudi Arabia will acquire the drones "with the aim of enhancing the readiness of the kingdom's armed forces and bolstering its defense and manufacturing capabilities," Defence Minister Prince Khalid bin Salman said in a tweet on Tuesday. SPA said Erdogan and Prince Mohammed attended the signing of a defense cooperation plan by Prince Khalid and Turkish Defence Minister Yasar Guler. Developing a local military industry has been part of an ambitious plan by Prince Mohammed to diversify the kingdom's economy away from oil.

Persons: Tayyip Erdogan, Erdogan, Saudi Crown Prince Mohammed bin Salman, Baykar, Prince Khalid bin Salman, Haluk Bayraktar, Jamal Khashoggi, Prince Mohammed, Prince Khalid, Yasar Guler, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Enas Alashray, Daren Butler, Jamie Freed, Lincoln, Tomasz Janowski, Bernadette Baum Organizations: Saudi Crown, Defence, Investments, United, United Arab Emirates, Turkish Defence, Turkish, Thomson Locations: RIYADH, Saudi Arabia, Saudi, Saudi Red Sea, Jeddah, Ankara, United Arab Emirates, Turkey, East, North Africa, Istanbul, Qatar, United Arab, Riyadh, UAE, Nahyan, Cairo

ISTANBUL, Feb 28 (Reuters) - Turkey's economy expanded 5.6% in 2022, official data showed on Tuesday but growth was expected to slow significantly to 2.8% in 2023 after earthquakes this month caused widespread destruction in the south of the country. Growth stood at 3.5% in the fourth quarter of 2022, down from a revised 4% in the third quarter and 7.8% in the second quarter. In 2022, finance and insurance activities grew 21.8%, followed by the services sector which rose 11.7%, data from the Turkish Statistical Institute showed. GDP growth in 2023 is expected to be 2.8%, based on the median estimate in a Reuters poll. In a poll conducted in January, before the earthquakes, the median estimate for 2023 economic growth stood at 3%.

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.

☆ Turkey's inflation hits 24-year high of 85.5% after rate cuts
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, Nov 3 (Reuters) - Turkish annual inflation climbed to a new 24-year high of 85.51% in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices. Inflation has surged since last year, when the lira slumped after the central bank began cutting its policy rate in an easing cycle long sought by President Tayyip Erdogan. In the last three months, the central bank slashed its policy rate by a total of 350 basis points to 10.5%. Month-on-month, consumer prices rose 3.54%, the Turkish Statistical Institute said, below 3.60% forecast in a Reuters poll. The annual inflation in October was the highest since June 1998, when Turkey was working to end a decade of high inflation.

☆ Turkey's Baykar to complete plant in Ukraine in two years -CEO
▼ + stars: | 2022-10-28 | by ( Can Sezer | ) www.reuters.com time to read: +4 min

ISTANBUL, Oct 28 (Reuters) - Turkish defence company Baykar is planning to complete the construction of its manufacturing plant in Ukraine in two years, its chief executive said on Thursday, after the company became highly renowned for their drones' success in thwarting Russian forces. The aerial drones supplied to Ukraine by Baykar were instrumental in Ukraine's defense against Russian armour and anti-aircraft systems in the first few weeks of the Russian invasion. Its Bayraktar TB2 drone gained so much prominence with the public that Ukrainians composed a song about it and some allies launched unprecedented crowdfunded campaigns to buy more. As part of an agreement between Turkey and Ukraine, signed just before Russia's Feb. 24 invasion, Baykar had agreed to build its second manufacturing plant in Ukraine. CEO Haluk Bayraktar told Reuters on Thursday that plans were moving ahead despite some obstacles created by Russia's invasion.

☆ EXCLUSIVE Turkey sells battle-tested drones to UAE as regional rivals mend ties - sources
▼ + stars: | 2022-09-21 | by ( Orhan Coskun | ) www.reuters.com time to read: +5 min

Bayraktar TB2 drone stands near the logo of Baykar Turkish defence company inside a hall of 30th international Defence Industry Exhibition in Kielce, Poland September 5, 2022. A source with knowledge of the talks said Abu Dhabi and Riyadh were negotiating to acquire Bayraktar TB2 drones from Ankara. A senior Turkish official confirmed Turkey has delivered some drones to the United Arab Emirates and that the UAE was seeking more. It currently produces 20 Bayraktar TB2 drones a month, he told a Ukrainian military services foundation in August, and its order book for those drones and other models was full for the next three years. While Turkish drones cannot match the technology of the models produced by market leaders Israel and the United States, they are cheaper and come with fewer export restrictions.

☆ How the Turkish-made TB2 drone gave Ukraine an edge against Russia
▼ + stars: | 2022-09-18 | by ( Maya Carlin | ) www.businessinsider.com time to read: +5 min

The TB2 drone has gotten worldwide attention for its role in the Nagorno-Karabakh war and now in Ukraine. Without the TB2, the Ukraine might lose the defensive edge it holds over Russia. What makes the TB2 drone special? Bayraktar TB2 UAVs is seen during the test flight at the military base located in Hmelnitski, Ukraine on March 20, 2019. A Bayraktar TB2 drone.

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