Business

The process for setting the minimum wage in 2023 is to be accelerated and brought forward so that the new basic wage can come into effect on April 1, in line with a pledge made by Prime Minister Kyriakos Mitsotakis under a new Labor and Social Affairs Ministry amendment announced on Friday.

Hundreds of residents of the Bulgarian capital criticize the changes in public transport, which came into force on January 1, on the Facebook page of the Center for Urban Mobility.

'Black Friday', the next retail sales, will take place on November 25 this year and will include major offers, market representatives said, who also welcomed the end of the interim sales that used to take place in the beginning of November.

Eczacıbaşı Consumer Products, part of Eczacıbaşı Group, has invested 25 million euros in a tissue paper plant in Morocco and seeks to expand operations in Africa.

The number of newly launched companies increased by 27.8 percent in September from a year ago, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on Oct. 21.

Last month, more than 13,000 new companies were established, compared to 10,200 businesses launched in the same month of 2021.

Türkiye's leading defense company Aselsan has reported that its net income increased from 3.1 billion Turkish Liras in January-September 2021 to 5.7 billion liras in the same period of this year, marking an 83 percent rise.

ArcelorMittal, the world's number-two steel maker, has said it will shut down two of its blast furnaces in Europe over high energy prices and lower demand.    

Its furnaces in Bremen in northern Germany and near Gijon in northern Spain will cease to operate until further notice at the end of the month, it announced.    

Ravil Maganov was a close associate of one of Lukoil’s founders, Vagit Alekperov

The European Bank for Reconstruction and Development (EBRD) has said it is providing $127 million in new funding to İş Bankası for on-lending to women-led businesses and to facilitate Türkiye's transition to a green economy.

The Greek Prime Minister, Mr Kyriakos Mitsotakis, is expected to announce new increases in the private sector wages as well as some changes concerning the collective agreements, during this year's Thessaloniki International Fair.