Xicheng District

Bank of China to establish deposit bank in Turkey

The Bank of China (BOC) has received permission to operate a deposit bank in Turkey through the investment of $300 million, Turkey's banking watchdog said late Jan. 13, according to Anadolu Agency. 

In a statement, the country's Banking Regulation and Supervision Agency (BDDK) said BOC had brought the "required capital" and would apply to start operating shortly.      

Cargo transport hub hopes dim

Greece's potential to become an international trade hub remains untapped, as despite the spectacular performance of the port of Piraeus in recent years in terms of container transit, and to a lesser extent the port of Thessaloniki, there is a shortage of infrastructure for combined transport, such as major highways and a modern rail network, according to a study published yesterday.

ADMIE stake passes into Chinese hands

China's State Grid Corporation (SGCC), the world's biggest utility, on Friday signed the purchase of a minority stake in Greece's power grid operator ADMIE, China's second big investment in the debt-laden country in a matter of months.

ADMIE was fully owned by Greece's state-owned power utility Public Power Corporation (PPC).

Cosco aims to double Piraeus cruise passenger numbers

China's Cosco wants to more than double the number of cruise passengers using Piraeus by extending facilities for bigger ships, its chairman said on Monday.

"The movement of cruise passengers is around 1.1 million a year at present," Cosco Shipping chairman Xu Lirong said during a ceremony at the port launching new docking space for cruise ships.

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