Sabancı family

Bypassing mediocracy, but how?

Opposition leader Kemal K?l?çdaro?lu released his party?s election manifesto on the weekend, summing up the economic picture as this: 

Turkey went down to 19th place from 17th place in the list of leading economies in the world. Because its income per capita for the past six years could not cross $10,000, it has fallen into the ?medium income? trap. 

Citigroup sells stake in Turkey's Akbank for $1.2 bln

Citigroup has sold its nearly 10 percent stake in Turkey?s Akbank for $1.2 billion, the U.S. lender said on March 5, its latest disposal of overseas assets to cut costs and boost profits.

New York-based Citi has been paring back in international markets in recent years, pulling out of retail banking inTurkey as well as long-established businesses such as Japan.

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