Europe's top Internet bank revealed
Garanti Bank, the Turkish bank co-owned by General Electric Co., has been selected Europe's best Internet bank. The bank received 10 awards in four different categories at the “Europe's Best Internet Banks” evaluation implemented by the New York-based business magazine Global Finance. Garanti is among the major players due to internet banking with its 1.2 million active users and 27 percent market share.
ISTANBUL – Hürriyet
Harel to buy control in Turkish firm
Harel Insurance Investments & Financial Services, Israel's third largest insurer, said it agreed to acquire control of Türk Nippon Sigorta for 9 million shekels ($2.6 million). Harel will seek to renew Türk Nippon's insurance license and will aim to find a Turkish partner that will hold 10 percent to 30 percent of the insurer, Ramat Gan, Israel-based Harel said in a statement to the Tel Aviv Stock Exchange yesterday.
TEL AVIV - Bloomberg
Gannett July sales fall 12 pct
Gannett Co., the largest U.S. newspaper owner, said July revenue fell more than 12 percent after losing more advertisers to the Internet, sending publishing-ad sales to the steepest monthly drop this year. Sales fell 12.3 percent to $546.4 million, Virginia-based Gannett said in a statement. Publishing-ad revenue tumbled 16.7 percent to $340 million. Gannett, the owner of USA Today, is cutting 1,000 jobs.
NEW YORK – Bloomberg
Turkcell, Facebook collaborate
Turkcell, Turkey's biggest mobile-phone company, and Facebook, an international social networking website, signed a new deal which will provide Turkcell subscribers to access the Web site at all times. Via clicking on the Facebook link located in turkcell-im's “Internet” category, all Turkcell customers will be able to directly reach the Facebook Web site.
ISTANBUL – Anatolia News Agency
Chinalco stake in Rio Tinto approved
Australia has approved a move by China's state-owned Chinalco to take a stake in Anglo-Australian mining group Rio Tinto, Treasurer Wayne Swan said yesterday. Swan said he had approved the acquisition by the aluminum giant of up to 14.99 percent of the London-listed arm of Rio Tinto -- an amount that would equate to about 11 percent in the group.
SYDNEY – Agence France-Presse
Koza gains on metals mining licenses
Koza Davetiye, owner of a gold mine on Turkey's Aegean coast, rose the most this month in Istanbul trading after saying it won seven licenses to mine iron, zinc and copper ore. Koza shares surged Ykr 34, or 7.4 percent, to YTL 4.92. Laboratory tests performed by ALS Chemex of Canada show that the mines may contain a total of about 1 million tons of ore, Koza said Friday.
ANK - Bloomberg