Business

Retail sales volume shrinks 0.8% in June

Turkey's retail sales volume with constant prices fell 0.8% year-on-year in June, the Turkish Statistical Institute (TÜİK) announced on Aug. 14. 

"In the same month food, drinks and tobacco sales increased by 3.0%," TÜİK said.

Excluding automotive fuel, non-food sales dropped 2.8%, while automotive fuel sales slipped 0.9% over the same period.

Protocol for supporting Romanian hotel industry to practice responsible tourism signed

Bureau Veritas and the Romanian Hotel Industry Federation (FIHR) on Wednesday launched a health safety standard to support the hotel and restaurant industry to show compliance with best practices in preventing the spread of the novel coronavirus, informs a company statement sent to AGERPRES.

OPAP first-quarter profit hit by Covid-19 lockdown

OPAP, Europe's fourth-biggest betting business, reported a 38% drop in first-quarter profit on Wednesday due to the closure of outlets during the coronavirus lockdown in Greece and Cyprus.

Net profit in the January to March period stood at 35.5 million euros ($40.3 million), down from 57.2 million in the same period a year before.

Minister expects regional players to be involved in Koper-Divača track

The minister's comments on Thursday come after 2TDK, the state-run company managing the project, has decided to enter negotiations with ten of the 15 bidders that responded to an international call to tender for the main construction work, including several Chinese and Turkish companies, aside from builders from Slovenia, Italy, Austria and Switzerland.

Supermarkets set for growth

Supermarkets are expected to post 5.3% growth in turnover this year, as any losses in the second half from the expected contraction of the economy will have been offset by the jump in demand as soon as the first case of the coronavirus was recorded in Greece.

Turkey launches new free-trade zone specializing in R&D

Turkey has launched a new free-trade zone specializing in R&D, high technology, and high added-value activities, the nation's trade minister said on June 9.

The Trade Ministry will provide incentives for companies that take part in the zone such as tax exemptions, breaks on rent, and qualified employment support, Ruhsar Pekcan stressed.

Microsoft to open R&D hub in Athens

Microsoft will create a robotic process automation (RPA) development center in Athens, spokesman Charles Lamanna said last week in a teleconference with Prime Minister Kyriakos Mitsotakis following the information technology giant's recent acquisition of Greek-owned software company Softomotive.

Manufacturing PMI rises to 40.9 in May

Turkey's Purchasing Managers' Index (PMI) for the manufacturing sector rose to 40.9 in May, a monthly business survey revealed on June 1.

The PMI increased by 7.5 points from 33.4 in April, according to the report by the Istanbul Chamber of Industry, prepared in collaboration with London-based global data firm IHS Markit.

PM notes milestones in development of high technology in Greece

Prime Minister Kyriakos Mitsotakis said the recently announced buyouts of the Greek companies Softomotive and Think Silicon, by two giant global technology companies, Microsoft and Applied Material, respectively, were landmark successes for the development of advanced technology in Greece.

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