Industry economics)

Eid holiday gives boost to e-commerce

The Islamic holiday of Eid al-Adha, which usually increases domestic tourism activity, has also helped boost sales on e-commerce platforms in Türkiye.

Online shopping rose around 30 percent, with sales of certain items, such as deep freezers and tires, increasing significantly, said Hakan Çevikoğlu, head of the E-commerce Enterprises Association (ETİD).

Twitter’s future uncertain as it faces messy breakup with Musk

Courted and then jilted by the world's richest person, Twitter looks well positioned to win a court battle with Elon Musk over a $1 billion breakup fee and more -- but the company will not emerge unscathed.

The entire saga has left observers baffled by what Wedbush analyst Dan Ives described as "one of the craziest business stories ever."

Samsung Electronics forecasts 11 pct rise in profits

Samsung Electronics expects operating profits in the second quarter to rise 11.4 percent, the South Korean tech giant said in a statement yesterday, despite ongoing global supply chain woes.       

The world's biggest smartphone maker forecast 2022 second-quarter operating profits of about 14 trillion won ($10.7 billion), up from 12.6 trillion won in the same quarter last year.    

New e-commerce law soon to be finalized

Work on new legislation on e-commerce, which would include regulations protecting local companies, is expected to be finalized and submitted to parliament soon.

The new law aims to curb the fast growth in the industry and guard against the competition, according to daily Milliyet.

President Recep Tayyip Erdoğan in April unveiled plans to introduce new rules for e-commerce.

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