The month May saw Istanbul Chamber of Commerce Awards, which are intended to become a tradition, to be extended for the first time. Awards were extended to individuals and entities which registered achievements in 7 distinct categories to represent 7 hills of Istanbul: economics, culture-arts, science, social responsibility, investment, brand, and urban planning. Furthermore, a special ICOC award was also extended. The awards were presented by the President of the Republic, Recep Tayyip Erdoğan, and the President of ICOC, İbrahim Çağlar. The Minister for the European Union (EU) and Chief Negotiator, Volkan Bozkır, President of the Union of Chambers and Exchanges of Turkey, Rifat Hisarcıklıoğlu, many MPs, leading names of the business world, arts and sports scene were also among the attendance. FOLLOWING THE CHANGE BREEDS SUCCESS Addressing the businessmen in the audience, the President of the Republic, Erdoğan said "You are men of commerce. You keep a close eye on global developments as well as the change our society goes through. Just like the case with economics, old and well used methods no longer work in politics. The politics needs to change in parallel to the changes in the society and the business world. We are living through an era in which the people who are able to understand the spirit of the day and follow the winds of change, adjusting themselves as required without contempt for tradition, achieve success. Those who resist change will be destined to be cast out of circle in the end." Eczacıbaşı basketball team was one of the recipients of awards extended by the President of the Republic, Erdoğan. The Istanbul Chamber of Commerce Awards which were extended for the first time, intend to encourage the individuals and entities which contribute to the global, economic and cultural development of the city.

09 Mart 2016 Çarşamba

Borsa İstanbul, with historical roots going back to 1873, is a diversified regional exchange in Turkey, providing trading, settlement, custody and registry services for equities, derivatives, fixed income & repo, precious metals and Islamic finance markets. The Company operates under a single umbrella, following its demutualization and incorporation in 2012. Successful completion of horizontal integration (via the acquisition of the derivatives and gold exchanges) and vertical integration (via control of the two domestic post trade firms) took place shortly thereafter. Through its markets, Borsa İstanbul offers corporates, investors and traders in the region a broad range of financial products suited to their needs, and efficient access to extensive capital markets. Post trade and depository services are offered by its majority-owned subsidiaries Takasbank (Istanbul Settlement and Custody Bank) and MKK (The Central Securities Depository). Borsa İstanbul calculates 360 indices that measure and benchmark equity and fixed income markets in Turkey. FINANCIAL HUB IN THE REGION Istanbul Financial Center (IFC) project feeds directly into Borsa İstanbul’s strategic vision. All efforts are coordinated to strengthen this target. By positioning itself as the hub for capital market activities in Central Asia, South-eastern Europe and North Africa (Eurasia) region, Borsa İstanbul contributes substantially to the IFC project. A number of transformational reforms involving Turkish capital markets and Borsa İstanbul have been initiated and implemented over the last three years to this end. Having stepped up its efforts to become a financial hub in its region, Borsa İstanbul undertook gigantic steps towards becoming internationally more competitive. A series of strategic partnerships with globally recognized brands in its sector such as Nasdaq, European Bank for Reconstruction and Development (EBRD), and London Stock Exchange Group (LSEG) prepared Borsa İstanbul well for its upcoming Initial Public Offering (IPO). FOCUS ON 25 COUNTRIES Borsa İstanbul signed a far reaching strategic agreement with Nasdaq in late 2013, which includes the delivery of market-leading technologies and advisory services to Borsa İstanbul, and acquisition of five percent Borsa İstanbul equity stake by NASDAQ. The partnership positions Borsa İstanbul as a leading, integrated, multi-asset class exchange that operates the best-of-breed platform serving issuers, investors and traders globally. The partnership covers integration and operation of NASDAQ’s suite of world-class systems for trading, clearing, market surveillance and risk management, covering all asset classes. The first phase of the “transformation with technology program”, named BISTECH, went live on November 2015 with the launch of the Equity Market trading and settlement system together with surveillance, risk management and other supporting systems. As a result, Borsa İstanbul not only renewed its legacy technology infrastructure with the best in the world but also became the owner of the resale rights. Going forward, Borsa İstanbul will focus on customizing, providing and supporting BISTECH technology for 25 countries in the region. Borsa İstanbul and EBRD agreed towards the end of 2015 to the acquisition by the EBRD of a 10 per cent Borsa İstanbul equity stake. The long-term investment demonstrates the EBRD’s confidence in the potential of Borsa İstanbul and the Turkish economy as a whole. It also underscores EBRD’s support for Turkey’s comprehensive capital market reform program and the plan to develop Istanbul into a financial center for the region spanning Eurasia. PARTNERSHIP AGREEMENTS Borsa İstanbul entered into two agreements with the London Metal Exchange (LME) under which it acquired the LME’s stake in the clearing house LCH. Clearnet; and Borsa İstanbul, the LME and LME’s parent company Hong Kong Exchanges and Clearing (HKEx) partner on dissemination of market data. Partnership agreement signed with London Stock Exchange Group (LSEG) in early 2015 for the offering of futures and options on BIST 30 Index and on leading Turkish stocks in London Stock Exchange Derivatives Market (LSEDM). Consequently, futures and options on the BIST 30 Index started being traded on LSEDM. Central counterparty services provided by LCH.Clearnet. The partnership enables Borsa İstanbul to enjoy full benefits of FTSE’s unique technical expertise and top global positioning, and represents a significant enhancement in accessibility for international investors to Turkish markets. ENTREPRENEURS AND INVESTORS MEETING AT THIS PRIVATE MARKET “Borsa İstanbul Private Market” was established as an umbrella platform that brings together entrepreneurs and investors under Borsa İstanbul. This new platform is expected to fill an important gap in the region regarding SME financing. It allows small and medium companies to have access to finances without being listed. Private market offers liquidity for company partners intending to sell their shares and provides investors the chance to find buyers to liquidate their investments when needed. The first partnership agreement between entrepreneurs and investors through Borsa İstanbul Private Market is signed in 2015. SIX FOREIGN STOCK EXCHANGES COMING TO ISTANBUL The decisions taken at Istanbul Stock Exchange will enable trading of stocks in the primary markets of 6 foreign stock exchanges at Istanbul Stock Exchange as well, within the framework of the quick quotation practice. The quick quotation practice will be regulated by the Quotation Directive, and was introduced to increase the number of foreign firms traded at Istanbul Stock Exchange. In this vein, in case trading applications are filed for the firms the stocks of which are traded at the primary markets of Bursa Malaysia, Qatar Stock Exchange, Nasdaq Dubai, GPW Warsaw Stock Exchange, Athens Stock Exchange, and Nasdaq OMX Nordic will be quoted and traded at Istanbul Trading Exchange, provided that the publicly traded portion of the firms are worth TRY 100 million or more. EUROPEAN INVESTORS JUST WON'T QUIT European Bank for Reconstruction and Development (EBRD) announced that last year it invested approximately EUR 1.9 billion in Turkey. The statement by London-based EBRD noted that among all investments worth EUR 9.4 billion it made in 2015 in all the countries of its operations, Turkey ranked first with a share of 20 percent. EBRD's statement underlined the fact that Turkey had been reinforcing its pivotal position, and reminded that in 2014, the Bank also invested in Turkey, at a total figure of EUR 1.4 billion. EBRD Director for Turkey, Jean-Patrick Marquet stated that "EBRD had a significant performance in Turkey by responding to the finance needs growing outside major centers in particular, despite the challenging climate."

09 Mart 2016 Çarşamba

The ancient city of Istanbul, which was the cradle and capital of many civilizations through the ages, is also able to make time stand still in the shade of monumental trees. 5,121 trees, the youngest of which is aged fifty, serve as witnesses of the centuries of Istanbul. The trees serve as the undeniable proof that the history of city is much more than a mere collection of buildings, and are registered by the Metropolitan Municipality of Istanbul, Department of Parks, Gardens and Green Spaces, as monuments in their own right, to be preserved. ÜSKÜDAR WINS THE TITLE The centennial trees are located on both sides of Istanbul. 2,597 of them are on the Asian side, while 2,524 are on the European side. Üsküdar boasts the largest number of such trees. The district has 969 monumental trees, and is followed by Sarıyer, which has 936, Beykoz with a monumental tree count of 909, and Beşiktaş, Fatih, and Kadıköy with 732, 494, and 271 trees respectively. 53 DISTINCT SPECIES There are various species of monumental trees. The Asian side is home to 45 species such as sycamores, cypresses, oaks, pines, judas trees, horse chestnuts, ash trees, olive trees, sequoias, and elm trees, while the European side boasts a variety count of 53 species. Sycamores are the most common type of monumental trees. THE OLDEST ONE IS 13 CENTURIES OLD The monumental trees vary in terms of age as well. The oldest one is a 1377 years-old London Sycamore at Sarıyer. It is followed by a 819 years old eastern sycamore at Sarıyer, and another –791 years old– eastern sycamore at Çatalca. The youngest of the monumental trees is more than half a century old. WORK IN PROGRESS After a survey of more than 2 years, the Metropolitan Municipality of Istanbul, Department of Parks, Gardens and Green Spaces identified the monumental trees in the province. The survey was not able to cover all the trees in the city, however. The project will continue in the ensuing days. Within the framework of the monumental trees project which took start in March, an e-book titled "Istanbul's Natural Heritage: Monumental Trees" was published. Those interested can use the mobile app to see which monumental trees are located in which part of Istanbul.

09 Mart 2016 Çarşamba

The President of the Republic of Turkey applies a perspective of social state, and implements tens of social responsibility projects each year. In addition to the regular projects implemented by the Presidency, projects with specific reference to the agenda of the year can also be tabled. In other projects, on the other hand, efforts are made to instill a global character to local elements, without losing their authenticity. In still others, the Office serves as the pioneer for a healthy life for the citizens. A CLASSIC One of the leading social responsibility projects of the Office of the President of the Republic is the Grand Awards of Culture and Arts. This project is implemented on an annual basis, and aims to award significant contributions to culture and arts in Turkey. The project honors persons and entities which left their mark through their works and services. Turkish citizens as well as foreigners may be awarded within the framework of this project. A total of 54 individuals or entities were honored by the Office of the President of the Republic, through the Grand Awards of Culture and Arts offered since 1995. LEADING THE WAY IN COMBATING ADDICTION The traditional Phoenix Awards offered by the Green Crescent Society of Turkey are now offered under the auspices of the President of the Republic.The extension of prestige awards for individuals and entities who serve as role models in the fight against addiction, are now an annual tradition. CYCLING FOR HALF A CENTURY Leading the way for a healthy population, the Presidency organizes the annual Presidential Cycling Tour of Turkey. The tour was held for the first time in 1963, and became an international event in 1965, and is organized under the auspices of the President's Office since 1966. The only intercontinental cycling tour of the world, the event is implemented in 8 stages. The tour begins at Alanya, proceeds west and north on the shores of the Mediterranean and Aegean, and ends in Istanbul. It is often the scene of significant competition between world-famous athletes and leading teams. MOVE TO OVERCOME The "Move to Overcome" project aiming to direct individuals with or without disabilities to sports is yet another social project sponsored by the President's Office. The project is based on the philosophy of overcoming obstacles through joint action, and provides opportunity to be active in sports for 100,000 individuals with disabilities, alongside 100,000 without, in various activities. This will enable youth –with or without disabilities– socialize more effectively and keep individuals with disabilities integrated with the society, and life itself. AWARD FOR YOUNG SCIENTISTS The Presidency of the Republic of Turkey acts as the sponsor of certain projects. Turkish Academy of Sciences Awards are extended under three categories: International Academy, Outstanding Young Scientists, and Scientific Intellectual Property and Translated Works. The project sees that authentic, pioneering and groundbreaking works are awarded. TRACES OF SELJUKS The Northern Van Lake, Seljuks Region Cultural Project was implemented under the auspices of the Presidency, with a view to conserving the historical and cultural heritage of Seljuks in and around Ahlat. The project covers Ahlat, Adilcevaz, Tatvan, Malazgirt and Erciş, and intends to develop tourism in the provinces of Van and Bitlis. THE GENIUS OF THE 16TH CENTURY Matrakçı Nasuh is kept alive on an intercontinental background, through a project implemented under the auspices of the Presidency of the Republic. The scientist who left countless works of history, mathematics, painting, poetry, philosophy, calligraphy and miniature, will be remembered through various activities to be held in Sarajevo, Belgrade, Rome, Paris, Vienna, Tokyo and New York, in the next three years, within the framework of the project "Matrakçı Nasuh, the Genius of the 16th Century". The project supported by UNESCO as well will make an impression on 3 continents, 9 countries, and 10 cities.

09 Mart 2016 Çarşamba

Smart Economic Planning and Industrial Policy, SEPIP 2015 took place in an event hosted by Istanbul Commerce University. The conference was organized by Istanbul Commerce University, Center for Industrial Policy and Development, and brought together well-known economists of the world. Participants include Prof. Ha Joon Chang from Cambridge University, Prof. Sandrine Labory from Ferrara University, and Prof. Franco Mosconi from Parma University. CURRENT OBSERVATIONS The only scientific conference to be held on industrial policies in a decade, SEPIP discussed models on how underdeveloped or developing countries can achieve the break they seek. One of the major themes discussed was the failure of the complete liberalization of the markets after 1980s, with the exception of fields such as infrastructure, eliminating government interventions, in terms of the inability to generate permanent growth and development at emerging economies, and the role of liberalization in the crises. PLANNING Another issue discussed at SEPIP 2015 was the fact that planning was still intact worldwide, despite the neo-liberal policies in place. Particular emphasis was placed on the 13th five-year development plan China has put in place for the period 2016-2020. SEPIP also led to a consensus that special policies should be developed and implemented for the growth of manufacturing industry in emerging economies. CHANG HANG SPOKE ABOUT İBN-İ HALDUN At SEPIP, Prof. Ha Joon Chang from Cambridge University made a presentation on İbn-i Haldun, as the founder of the science of economics. In his presentation, Prof. Change underlined, with reference to İbn-i Haldun, the need to focus on the policies the developed world implemented in previous periods, rather than paying exclusive attention to what standard text-books tell us.

09 Mart 2016 Çarşamba