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Turkish Media Executive Is Sentenced

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BusinessLONDON, Dec. 20 (Bloomberg News) Cem Uzan, a Turkish media executive, was sentenced to 15 months in prison today for contempt of court for failing to give testimony related to charges that he and family members owe billions of dollars to Nokia and Motorola.
Mr. Uzan\'s sister, Aysegul Akay, was also sentenced, to six months in prison, for contempt after failing to appear at hearings over the last two months.
\"There is no doubt this is towards the top end of the scale for civil contempt,\" said Justice Peter Gross of London High Court. \"This case has gone quite beyond the question of fines.\"
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EU gives Turkey EUR 126 mn for projects

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BusinessBrussels, Dec 20, IRNA -- The European Commission Friday approved the sum of 126 million euro for 18 different projects in Turkey to help it prepare to take on the obligations of EU membership. In implementing the programme, officials from the EU member states will, for the first time, be seconded to Turkish ministries
to offer on-the-spot expertise, said a EU announcement.
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Chhibber: Turkey Is Rapidly Getting Rid Of Economic Crisis

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ANKARA - World Bank Turkey Director Ajay Chhibber has said that Turkey was rapidly getting rid of economic crisis.
Chhibber held a conference on \'\'Leadership and Social Peace: World Bank Perspective\'\' at the TED Ankara College Foundation Private High School in Ankara on Thursday and gave information on World Bank activities in Turkey.

Chhibber stressed that the economic program and reforms had been effective in getting rid of the economic crisis.
Noting that they did not assist Turkey not only in fields of macro economic fields, Chhibber said that under the three-year Country Assistance Strategy, they supported also projects about direct production and real economy and projects which had social dimension.
When a college student recalled that loans given to Turkey had been more loans given to Argentina and asked which kind of criteria had played role in this, Chhibber said that he did not know the comparison with Argentina but necessary amount of loans had been given to Turkey under the economic program, adding that Turkey had started to getting rid of economic crisis and this recovery would continue next year.
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Turkish telecom market: the name of the game is intense price competition

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BusinessWhat would you do if your customers are simply not buying, or certainly not as much as they used to? Three years ago, in the infant Turkish mobile market, average revenue per user per month was as high as $30 for the then near-monopolies, Turkcell and Telsim.

Today, the best-placed mobile operator - still Turkcell - is looking at slightly over $10 in average revenue per user per month. Turkish telcos are now convinced that slashing prices is the most effective method of helping with sluggish demand.

Turkey is slowly emerging from the crisis-ridden 2000-01 period and customer confidence is gradually picking up, so it may not be the best time to engage in heavy price competition. Yet whatever indicators they are looking at, the operators have decided to play hardball with prices, and customers need not complain.
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Seminar on Iran-Turkey economic cooperation begins in Istanbul

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BusinessAnkara, Dec 19, IRNA -- A seminar Iran-Turkey economic ties with the
participation of over 350 representatives from private and public
sector of the two nations began in Istanbul Thursday.
The meeting is sponsored by Joint Labor Council and Association of
Iran-Turkey Businessmen and Iran\'s Council General in Istanbul.
The Iranian delegation, Headed by Director of Iran\'s Foreign
Investment Organization Ahmad Mortazavi, furnished information on laws
and regulations on foreign investments in Iran as well as business
opportunities in the country to Turkish industrialists, and traders.
Also cooperation by the two nations\' private sector in point
investments in third countries was another topic of discussions.
Meanwhile, Iran-Turkey trade dropped 17 percent in the first three
quarters of 2002 compared to the same period last year and stood at US
dlrs 758.884 million.
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NCR wins Turkish business

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BusinessNCR Corp. said Thursday it has secured a multiyear services contract from Yapi Kredi Bank in Turkey.
The deal, valued at $6.7 million, calls for Dayton-based NCR to supply maintenance and support services for Personas-brand ATMs.
Yapi Kredi has a network of 1,370 ATMs and 420 bank branches in Turkey.
NCR, which employs 30,500 people globally, is the world\'s largest ATM manufacturer and also provides data warehousing and retail system services.
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Budget deficit misses target

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BusinessTurkey\'s consolidated central government budget ran a deficit of TL 29,719 trillion during January-November and missed an International Monetary Fund-backed target set for the whole year, according to figures announced by the Finance Ministry yesterday.
The government was hoping to limit the deficit to TL 26,913 trillion.
In January-November, primary surplus on the consolidated budget reached TL 17,094 and beat a year-end target of TL 15,882 trillion. Yet primary budget balance can change in the last month of the year, as public institutions utilize their allocations mostly in December.
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Turkey to continue on path mapped by IMF

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BusinessAn interim budget will be tabled in the parliament later this week, Şener said.

December 18 The ruling Justice and Development Party (AKP) government is committed to main objectives of the stand by between Turkey and the International Monetary Fund, a senior minister said on Wednesday.
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Buderus Takes 80% Stake in Turkish Partner Isisan

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BusinessFRANKFURT (Dow Jones)--German heating and cooling technology company Buderus AG (G.BUD) Monday said it is taking an 80% stake in Turkish partner Isisan Isitma ve Klima Sanayi. The move will help Buderus expand in the Turkish market, where it already has a 5% market share, the company said.
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T.A.I. And Boeing - Wichita Sign Contract

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BusinessANKARA - Turkish Aerospace Industries (TAI) and Boeing-Witchita signed a contract on 69 million U.S. dollars of project contract.

A statement of TAI said on Friday that the contract was signed in Wichita installations of Boeing and covered five project packages worth of 500 million U.S. dollars that would continue for ten years.

The project covers production of 6,500 parts belonging to Boeing 737, 747, 767 and 777 model aircraft.

In addition to 100 sets of 747 landing gear components for Boeing 747; 7,514 detail parts and 2,550 assemblies for Boeing 737; 1,400 detail parts and 364 assemblies for Boeing 767; and 575 detail parts and 86 assemblies for Boeing 777 will be manufactured in TAI between 2003 and 2008 under the first project contract.

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