Migros

Migros, one of Türkiye's largest supermarket chains, plans to make investments worth 6.5 billion Turkish Liras ($231 million) each year.

With investments to be undertaken, Migros will become a 120 billion liras company, said Özgür Tort, its CEO, noting that its current market value is 60 billion liras.

While efforts are ongoing to adequately meet the needs of those living in tents and container cities in the earthquake-stricken provinces, measures are also being taken to revive local trade as part of the normalization process and pave the way for the public to meet their own needs as they see fit.

More businesses have decided to join large supermarket chains in freezing prices as consumer inflation started to show signs of slipping last month with officials expecting a downward trend in inflation to continue in the coming months.

The sharp decline in the inflation rate will continue in coming months, Treasury and Finance Minister Nureddin Nebati has said, calling on businesses to support efforts to rein in inflation by freezing and reducing prices.

Migros, one of the largest supermarkets with nearly 3,000 outlets across Türkiye, has joined a hard discount retailer in freezing prices on stable products.

Nevzat Aydın, the co-founder and CEO of Turkish online food delivery application Yemeksepeti, announced yesterday that he is stepping down after staying at the helm of the company for two decades.

"It's now time to leave my post as CEO at Yemeksepeti to a young and new viewpoint," he said on Twitter, adding that he will spend more time with his family and focus on philanthropy.

Data analytics company NielsenIQ Turkey has identified Turkey's most technological brands in 26 categories by conducting online surveys.

Koç Holding's Arçelik received "Turkey's Most Technological Domestic Brand" and "the Most Technological Brand of the COVID-19 Era" awards, whereas Garanti BBVA was chosen as the most technological bank.

More than 28,000 workers of Migros, Turkey's prominent supermarket chain, will see a rise of 11 to 19 percent in their salaries and benefits after negotiations for a collective agreement were reached between the employer and the labor union in a videoconference.

The European Bank for Reconstruction and Development has invested 30.8 million Turkish lira ($5.2 million) in lira-denominated bonds of a top Turkish supermarket chains, Migros.

"The new Turkish lira-denominated bond will be listed on Borsa Istanbul and its proceeds will reduce the company's foreign currency exposure," the bank announced on Dec. 23.

The European Bank for Reconstruction and Development (EBRD) announced on Feb. 26 that it has invested 40 million Turkish Liras ($ 7.54 million) in a 200 million lira bond issued by Turkey's leading supermarket operator, Migros.