Bazaar Times

17/10/2024

From October 14 to 18, with the theme Accelerate Industrial Digitalization and Intelligence, , as a Diamond Sponsor, is participating in the 2024, one of the world’s largest tech exhibitions. During the first day of the exhibition, hosted the and Intelligent Transformation Summit and launched joint solutions with partners for ten industries like public utilities, transportation, finance, electric power, oil & gas, mining, retail, education, and healthcare, and a series of new flagship products. These solutions and products are designed to support customers in enhancing their digital and intelligent transformation.

Huawei is Innovating Nonstop to Help Customers Succeed, Enable Local Partners, and Cultivate Local Talent
Li Peng, Corporate Senior Vice President, President of ICT Sales & Service, Huawei, delivered opening remarks at the summit. “We’re combining our strengths in networking, storage, computing, cloud, and energy,” said Li, “and we’re working with partners to build new digital and intelligent infrastructure.”

Last year, Huawei released a reference architecture for the intelligent transformation of industries. In his speech, Li detailed how Huawei has since put this architecture into practice to provide customers with leading and adaptable solutions for industries like government, finance, electric power, transportation, manufacturing, oil and gas, mining, and Internet. “We have summarized over 100 case studies that different industry customers can use to accelerate their digital and intelligent transformation”, said Li.

These achievements would be impossible without our partners”, Li continued. “At Huawei, we’re committed to building a healthy, open, and mutually beneficial partner ecosystem. We have also established 14 worldwide to support joint innovation with local solution partners. Together with over 30 solution partners in the UAE, we have developed more than 20 solutions to meet local industry needs.”

17/10/2024

Turkiye has led Europe in -firedelectricity production for eight of the first nine months of 2024, surpassing Germany and Poland as it ramped up coal use to meet energy demands. The country’s emissions from coal-fired also skyrocketed, hitting 88.4 million tons of carbon dioxide.

Turkiye has spent eight of the first nine months of 2024 as Europe’s largest producer of coal-fired electricity, overtaking Germany and Poland as it cranked coal burning for power.

Turkiye generated a record 88 terawatt hours (TWh) of electricity from coal during January through September, according to energy think tank Ember, which was 2% more than during the same period in 2023.

That total was 28% above the 69 TWh generated in Germany and 36% above the 65 TWh generated in Poland, Europe’s next largest coal-fired power producers.
With power systems across Northern Europe set to make further cuts to coal use in power generation going forward, Turkiye’s lead in Europe looks set widen,and may establish southern Europe as a major hub for coal use in the region.

Turkiye’s emissions from -firedpower also scaled new highs so far in 2024, hitting 88.4 million tons of carbon dioxide and 1.5 million tons more than in the same months last year.

-firedemissions in Germany were 71.5 million tons of CO2, and were 67 million tons in Poland, which in both cases were the lowest on record for the January to September period.

With coal-fired generation and emissions declining in most other European nations, Turkiye’s share of the region’s coal-fired use and emissions climbed to a record of just over 19% so far this year, Ember data shows.

Continued coal burning during the winter – when demand for heating in Turkiye peaks – may push Turkiye’s share of regional emissions above 20% for the first time, especially if power systems elsewhere continue to curb coal use during that period.

Around 35% of Turkiye’s electricity so far this year was generated from coal, which was the country’s largest single power fuel source.

17/10/2024

Luxury villas feature expansive built-up areas ranging from 8,000 to 15,000 square feet

, a member of Dubai Holding Real Estate, has awarded three major contracts, collectively valued at more than AED5 billion ($1.36 billion), for the construction of exclusive ultra-luxury villas on the first six fronds of Palm Jebel Ali, scheduled for completion by late 2026.
The contracts, awarded to , Shapoorji Pallonji Mideast,and United Engineering Construction Company ( ), mark a significant milestone in the ongoing development of this landmark waterfront destination in Dubai.

“Palm Jebel Ali represents the pinnacle of waterfront living and reflects Dubai’s vision of growth and prosperity. It is set to contribute significantly to the emirate’s economic development, attracting investment and tourism for years to come,” stated Khalid Al Malik, CEO of .

The scope of work under the three contracts includes the construction of 723 luxurious Beach Collection and Coral Collection villas with exclusive beach frontage across six fronds in addition to the comprehensive development of world-class infrastructure and vibrant public spaces within the respective fronds on .

“Partnering with Ginco General Contracting, Shapoorji Pallonji Mideast and on the prestigious Palm Jebel Ali project reflects our commitment to developing and delivering the highest standard of living experiences available in the market,” added Al Malik.

Palm Jebel Ali will set a new standard for waterfront living, and residents can look forward to a diverse selection of five- and six-bedroom Beach Collection villas, numbering 539 in total. The development will also include 184 Coral Collection villas boasting seven bedrooms.

17/10/2024

Turkiye’s Short-Term External Debt Reaches $173.7 Billion, Banks Lead with $76.3 Billion

Banks’ short-term external debt at $76.3B, other sectors’ debt stock at $59.3B

17/10/2024

Turkiye’s house sales rise 37.3% in September, led by Istanbul

Türkiye recorded 140,919 house sales in September, marking a 37.3% increase year-on-year, the Turkish Statistical Institute (TurkStat) reported on Thursday.

17/10/2024

Central Bank of Turkiye holds interest rate steady at 50% for seventh consecutive meeting

The Central Bank of the Republic of Türkiye (CBRT) announced Thursday that it will maintain its policy interest rate at 50%, marking the seventh consecutive

17/10/2024

unveiled the new . A hybrid with a V6-hybrid powertrain derived from racing and unleashing 1,200 cv in total, 900hp from twin-turbo, and 300hp e-motors
📍0-100kmph in 2.15 seconds
📍0-200kmph in 5.75 seconds
📍Top speed over 350kmph

17/10/2024

US 🇺🇸: expects Fed to make consecutive 25 basis point cuts through June 2025

17/10/2024

considered a potential acquisition of as part of its initiative to develop a comprehensive super app.

17/10/2024

Property sales 🏘 to foreigners in 🇹🇷 decreased 📉 31.0% in September compared to the previous year, reaching 2,022. The share of in Turkiye to foreigners from over all sales in September was 1.4%.

17/10/2024

The Central Bank of the Republic of 🇹🇷 left the policy rate unchanged in line with expectations. The 📊 was left unchanged at 50%.

17/10/2024

Nakheel awards $1.36 billion in contracts for luxury villa construction on Palm Jebel Ali

Nakheel, a member of Dubai Holding Real Estate, has awarded three major contracts, collectively valued at more than AED5 billion ($1.36 billion), for the

17/10/2024

Huawei Unveils Cutting-Edge Digital and Intelligent Solutions at GITEX GLOBAL 2024

From October 14 to 18, with the theme Accelerate Industrial Digitalization and Intelligence, Huawei, as a Diamond Sponsor, is participating in the GITEX

17/10/2024

Turkish, African businesspeople meet at World Cooperation Industries Forum in Istanbul

The World Cooperation Industries (WCI) Forum started on Wednesday in Istanbul, with some 1,500 African businesspeople set to meet with representatives of

17/10/2024

Turkiye solidifies position as Europe’s leading coal-fired power producer

Turkiye has led Europe in coal-fired electricity production for eight of the first nine months of 2024, surpassing Germany and Poland as it ramped up coal use

17/10/2024

Turkish demand for crude steel expected to fall in 2024, 2025

Demand for crude steel in Türkiye is expected to decline by 5.5 percent in 2024, compared with the previous year to 36 million tons, according to the World

17/10/2024

Turkiye Aims to Reach $10B Trade Volume with Japan, Boosting Economic and Technological Collaboration

On eve of Thursday's Joint Economic Commission meeting in Tokyo, Turkish goal is to reach $10B in bilateral trade volume with Japan

17/10/2024

Antalya Tourism Surges to 15 Million Visitors in 2024, Led by Russian Tourists

Most visitors to southwestern coastal city hail from Russia, airport statistics show

16/10/2024

The real estate sector witnessed a substantial $4.2 billion 📈 worth of transactions last week, with a notable $14.6 million apartment sale

16/10/2024

is going after ,⚡️invests over $500 million to develop small-scale reactors

16/10/2024

US 🇺🇸 based battery manufacturing company has announced plans to $1 billion to build the world's first lithium-sulfur 🔋 gigafactory.

16/10/2024

According to research by the UK-based think tank, Adam Smith Institute, 🇹🇷, 🇷🇺 and 🇸🇪 stand out as the European countries that will experience the biggest increase in the number of by 2028.

16/10/2024

Gobal village Dubai welcomes visitors for season 29 with exciting new entertainment, dining, and cultural experiences. The current season, running until 11 May 2025, is the largest to date, with 30 pavilions representing over 90 cultures from around the world.

16/10/2024

The ecosystem will be responsible for adding over 41,800 new skilled jobs into the UAE economy

and its partners, along with customers leveraging cloud technologies, are set to generate $74.4 billion in new revenues for the UAE economy over the next four years, according to an International Data Corporation ( ) study recently released at .

The study, titled ‘Microsoft Cloud Dividend Snapshot’ for the United Arab Emirates, highlights the critical role that Microsoft’s cloud services, along with its partner ecosystem,are playing in advancing the UAE’s digital economy, fostering innovation, and creating jobs.

Over the next four years, Microsoft and its partner ecosystem will spend approximately $5.1 billion in the UAE’s data center regions for services and products in local economies. This investment will fuel the growth of enterprises, particularly those looking to harness the power of cloud and to stay competitive in the increasingly digital landscape.

“Our investment in local data centers, our partner ecosystem, and the broader digital economy reflects our ongoing dedication to empowering government institutions and businesses to innovate, drive economic growth, and create sustainable jobs for the future,” stated Naim Yazbeck, general manager of Microsoft UAE.

The report also revealed that Microsoft partners will see significant economic benefits. It forecasted revenue growth of $6.29 for every dollar Microsoft generates through its UAE cloud locations in 2025. This figure will increase to $7.99 by 2028.

16/10/2024

, international lenders showing keen interest in project, says Abdulkadir Uraloglu

The on the in Istanbul, also called the , as a part of the Development Road project, which aims to connect Asia to Europe, is gaining traction among international lender.

Speaking at the International Road Federation ( ) World Congress 2024 in Istanbul on Tuesday, Turkish Minister for Transport and Infrastructure Abdulkadir Uraloglu stated the World Bank has shown keen interest in the railway project, among others.
The quadrennial event is organized at Istanbul Congress Center on Oct. 15-18 by the Geneva-based federation, with the theme of “Connecting to empower mobility: Roads as enablers of a sustainable future for all.”

Uraloglu noted that geographically and culturally, Türkiye is at the crossroads of continents, “a natural bridge between the Eastern and Western trade corridors, as well as in the Middle corridor,extending from Caucasian countries and Central Asia to Africa.”

The minister mentioned the significant projects, such as the -Tbilisi-Karsrailway, the Eurasia Tunnel, the Marmaray rail line in Istanbul connecting two continents, the Yavuz Sultan Selim Bridge, and the Northern Marmara Motorway in northwestern Türkiye, adding that work is still underway for new projects to develop the Middle corridor.

As for the Development Road project, Uraloglu stated the uninterrupted rail and road to Europe “from the Grand Faw Port in Iraq to London” will be possible via the project, which is planned to be completed in 2030.

He noted that as a part of the project, 1,200 kilometers (over 745 miles) of highway and railway from the Grand Faw Port to Türkiye will be constructed.