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Turkish banks have been particularly attractive to outside investors. Citigroup last year bought a 20% stake in Akbank (for $3 billion). "The foreign appetite for Turkish companies and stocks is high," said Hakan Avci, director of asset management at the Istanbul office of Raymond James Securities, a U.S. company, before the recent political blowup. In the past 18 months, Lehman Bros., Morgan Stanley and Credit Suisse bought local brokerages in the country. Avci has since lowered his projections because of the political turmoil but says he is "optimistic that this crisis will be overcome and a solution found." The Turkish...
Commercial real estate in big cities like Istanbul has become particularly attractive to foreign investors who see markets in Turkey that have yet to be picked over. The graceful domes and minarets of Istanbul and other cities are being augmented by a thicket of building cranes, and futuristic shopping malls are competing for space among the red-tiled roofs. Analyst Roger Barris at Merrill Lynch predicts that outsiders will pour more than $15 billion into Turkish real estate in the next five years. Turkish coffee may be famous, but Turkey is now one of Starbucks' fastest-growing markets...
...Another rule of thumb: Life is unfair, and everything comes a lot easier when you don't really need it. I did my best-ever bit of bargaining killing time on a layover in Istanbul, last January. A rug trader lured me into his shop and showed me a beautiful Anatolian kilim. "I'm on my way to Iraq, I don't want to buy a rug," I kept telling the guy, as the price kept plummeting...
...person movie; you'll understand why, seeing as how the directed was essentially deported from his native country and home industry. He would keep convening foreigners - American, Italian, German, Swiss, Russian - to make mischief in exotic locales: in London (Night and the City), Paris (Rififi), Athens (Never on Sunday), Istanbul (Topkapi). These films were the fictionalized diary of a wandering soul; for Dassin, geography was autobiography...
...Tibet and in the enormous province of Xinjiang. In London, a protester tried to grab the flame away from its official bearer; at one point, the torch had to make its way through the city within the protective confines of a bus. Earlier, when the flame traveled through Istanbul, Turkish police arrested a man who made a move toward the torchbearer. And in Paris on Monday, officials actually took the step of extinguishing the torch amid protests...