Author: Anadolu Agency

Turkish defense firm Aselsan’s short-range air defense systems conducted integrated air and missile defense (IAMD) exercise with NATO countries at Ramstein Legacy 2024 in Romania. Aselsan’s systems became the first Turkish-made short-range air defense systems ever to be included in NATO’s biannual defense exercise. Aselsan said in a statement that the Turkish Armed Forces participated in the exercise with the firm’s systems, such as the battery command and control operations center named “Hakim-Adoc/T,” fire control device called “Korkut 130/135,” the pedestal mounted stinger, “KMS Zıpkın,” and the “Manpads” team equipment systems. Aselsan’s systems worked in tandem with German, Hungarian, and…

Türkiye’s first heavy-class military unmanned ground vehicle Alpar will be showcased abroad. Türkiye’s leading military vehicle manufacturer Otokar will showcase a range of products at Eurosatory, Europe’s largest and one of the world’s leading defense industry fairs, starting Monday in Paris. As part of this event, the heavy-class unmanned ground vehicle Alpar will be introduced abroad for the first time. Designed with a maximum load capacity of 15 tons, Alpar operates silently with its serial hybrid electric drive system. Otokar has conducted extensive engineering and qualification tests for Alpar since its introduction last year, according to information obtained by Anadolu.…

Turkish e-commerce platform Trendyol on Sunday won the ‘e-export’ category at the “Export Champions Award Ceremony” organized by the Turkish Exporters Assembly (TİM). Highlighting the significance of TİM’s inaugural e-export award, Trendyol Group President Caglayan Cetin said it reflects the organization’s emphasis on digitalization. “With the strength derived from Türkiye’s ecosystem, Trendyol has become one of the top five technology companies in Europe and the Middle East and the e-export champion of our nation. This award truly belongs to Trendyol’s young engineers, who create groundbreaking technologies, and to Turkish producers, whose products enable this export success,” he said. Cetin also…

Tükiye’s defense and aerospace industry exports hit its record high monthly figure of $876 million in May, a month-on-month surge of 59%, said the secretary of Turkish Defense Industries (SSB) on Monday.
 “We are not only achieving sustainable growth in our sector with our record high high-tech exports, but also increasing our country’s value-added export rate with our export value per kilogram exceeding $65,” Haluk Gorgun wrote on X.
 In January-May, Turkish defense and aerospace industry exports grew 9% from last year to $2.2 billion, Gorgun added. On Monday, Turkish Trade Minister Omer Bolat announced that the country’s exports saw…

Japanese electronics firm Toshiba on Thursday announced plans to cut off 4,000 jobs domestically, accelerating restructuring efforts under new ownership. The layoffs would come in the form of early retirement for employees aged 50 or above. It will also integrate four subsidiaries into the parent firm to cut costs and turn around its struggling business. Toshiba said it would also relocate office functions from Tokyo to Kawasaki, and target an operating profit margin of 10% in three years. In March 2023, Toshiba was delisted after it accepted a 2 trillion yen ($13 billion) buyout offer from a consortium led by…

Türkiye and the US are determined to revitalize and further bilateral economic relations, Turkish Trade Minister Omer Bolat said. “In the economic field, the governments of both countries are determined to revitalize and further develop relations,” Bolat told Anadolu in an exclusive interview on Thursday. His remarks came on the sidelines of the 39th American-Turkish Conference in Washington which is a premier venue for US and Turkish business leaders to engage in commercial diplomacy. Pointing out that Türkiye and the US have been allies for more than 70 years, Bolat said that although there are some tensions in the political…

Türkiye last year rose to fourth place in Europe in attracting the most international investment projects, according to the Turkish Presidency Investment Office. “Türkiye has become a prominent destination for investors with its strategic location and strong investment environment. The $10.6 billion in international direct investment we attracted in 2023 is the most concrete sign of this success,” said Burak Daglioglu, the office’s head. A report by audit and consulting firm EY found a significant fall from the previous year in foreign direct investment (FDI) projects in Europe for the first time since the pandemic, blamed on factors such as…

U.S.-based aircraft giant Boeing posted a net loss of $355 million in the first quarter of 2024.
 In a statement, Boeing said its revenue, including products and service sales, dropped by 7.5% to $16.6 billion year-on-year in the January-March period. The company’s loss from operations totaled $84 million. The firm’s revenues from commercial aircraft sales amounted to $4.65 billion, while defense, space and security earnings totaled $6.95 billion.
 Global services’ revenues also totaled $5 billion in the three-month period. The firm delivered 83 commercial aircraft-67 units of 737, three units of 767 and 13 units of 787 type planes.

The Turkish business world is preparing for President Recep Tayyip Erdoğan’s U.S. visit in May after a five-year hiatus, hoping that Turkish-U.S. trade ties will further grow. The president’s previous took place in 2019 when U.S. President Donald Trump and Erdoğan set a $100 billion bilateral trade target. The bilateral annual trade volume, which was at $20.77 billion in 2019, rose to $30.6 billion in 2023, increasing 47.3% during the five-year period, according to data compiled by Anadolu from Turkish Statistical Institute data. The U.S. was the second main destination for Türkiye’s exports last year; Turkish exports to the U.S.…

Google terminated 28 employees for their involvement in a 10-hour sit-in at two of the tech giant’s offices in California and New York City, protesting the company’s ties with Israel. In response to the Tuesday protests led by a group called No Tech For Apartheid against Project Nimbus, a $1.2 billion cloud contract with Israel, Google on Wednesday fired 28 employees accused of taking part in the protests. “This evening, Google indiscriminately fired over two dozen workers, including those among us who did not directly participate in yesterday’s historic, bicoastal 10-hour sit-in protests,” said a post on X by No…