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Category archives for: Industry News

Lockheed Martin remains sole bidder for new frigates

U.S. defense industry giant Lockheed Martin has been left as the only bidder in the $3 billion project for the joint manufacture of six frigates for the Turkish navy after Ankara rejected the remaining contender BAE Systems’ proposal. The project, however, may still not be awarded to Lockheed Martin if an agreement cannot be reached […]

Brazil, Turkey vow to deepen military ties

Brazil and Turkey’s defense chiefs vowed Monday to boost military ties and  technology transfers between the two emerging nations. At a meeting in Sao Paulo, Brazilian Defense Minister Celso Amorim and his  visiting counterpart Ismet Yilmaz signed a letter of intent formalizing a move  to “develop cooperation between the defense industries of both countries,  including […]

Turkey sells mini drones to Qatar

In an effort to boost defense industry exports to Islamic states, Turkey has recently sold 10 mini drones to Qatar, a senior procurement official said Sunday. The small unmanned aerial vehicles (SUAVs) were exported under a general agreement made during the International Defense Fair (IDEF), which convened in Istanbul May 2011, for the sale of […]

Israeli embargo on Turkey hits IAI-Boeing cooperation

Cooperation between Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) unit Elta Systems and Boeing Company (NYSE: BA) to produce airborne early warning and control (AEW&C) is being threatened because the project is due for delivery to the Turkish Air Force, “Defense News” reports. Israel’s Ministry of Defense has instructed Elta to delay delivery of two […]

Iran develops laser-guided artillery rounds

Tehran —  Iran has developed laser-guided artillery rounds designed to home in on stationary or moving targets at a distance of up to 12 miles, Defence Minister Ahmad Vahidi told state media Jan. 30. State television showed images of artillery being fired, saying it showed the precision-guided ammunition in action. No details were given on […]

Boeing wins $3.48 bln missile defense contract

Boeing beat out Lockheed Martin to retain its position as the prime contractor for the U.S. long-range missile shield, the Pentagon said on Dec. 30. The U.S. Defense Department said it was awarding Boeing a $3.48 billion, seven-year contract to develop, test, engineer and manufacture missile defense systems. A team led by Lockheed Martin and […]

September unemployment slips to lowest level in 10 years at 8.8 pct

(Photo: AA)

Turkey’s unemployment dropped to 8.8 percent in September from 11.3 percent in the same month of the preceding year, hitting the lowest level since a 2001 domestic financial crisis, data from the Turkish Statistics Institute (TurkStat) revealed on Thursday. The lowest unemployment rate Turkey experienced in the past decade was 7.8 percent in the third […]

BUSINESS > Turkish shipyard delivers fast intervention boats to Malaysia

This company photo shows a RTP-16 model fast intervention boat produced by Yonca Onuk.

Yonca Onuk, a top Turkish shipyard, has delivered the first four of 10 MRTP-16 fast intervention boats to Malaysia’s Coast Guard Command as part of a $100 million contract, a senior Turkish procurement official said yesterday. Three of the four boats were delivered and launched earlier this year, while the fourth was unveiled this week […]

Egypt offers Turks barter on business

This photo shows textile workers at a plant in Istanbul. Turkey may make use of Egypt’s tax advantages, says Sabbour. AA photo

A top Egyptian business group makes Turkish firms an offer that is hard to refuse: Sell textiles to Africa, US via Egypt in exchange for construction in Russia Egypt could become a gateway for Turkish firms intent on entering new markets in Africa, the head of a top Egyptian business group has said. “Turkish firms […]

European debt crisis knocks Turkey’s door

The main opposition CHP’s leader Kılıçdaroğlu urges workers to stand up against the government for their right as Deputy PM Bozdağ (L on screen) and Labor Minister Çelik is listening. DAILY NEWS photo, Selahattin SÖNMEZ

Turkey’s top business group and the IMF issue harsh warnings on the Turkish economy, which could be in for a shock due to a large current account deficit As eurozone leaders started a “make or break” summit in Brussels yesterday, the Turkish economy received stark warnings about a possible spillover from the ongoing debt crisis. […]

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