Rifat

People walk past shops in the al-Hamidiya market in the old city of Syria's capital Damascus on Dec. 12, 2024

Turkish companies are closely monitoring developments following the fall of the Bashar al-Assad regime to assess the policies the new Syrian government will adopt to revive the country's devastated economy.

Fuat Tosyalı has been elected as the new head of Türkiye's electric vehicle producer, Togg.

Tosyalı, who is also head of the Turkish conglomerate, Tosyalı Holding, replaces Rifat Hisarcıklıoğlu, who was at the helm of the company since 2018, according to a statement from Togg.

Hisarcıklıoğlu heads the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

President Recep Tayyip Erdoğan has voiced his "full confidence and support" for the medium-term program that was unveiled on Sept. 5.

The government will continue to work tirelessly to achieve the goals set out in the program to increase the welfare of citizens and to ensure the sustainability of our economy for our future generations, Erdoğan said.

Business leaders have voiced support for the measures announced by the government aimed at reining in spending and boosting efficiency in the public sector, saying that the package will contribute to the fight against inflation.

The savings package was unveiled by Vice President Cevdet Yılmaz and Finance Minister Mehmet Şimşek on May 13.

In their assessments on the outcome of the March 31 local elections, Deutsche Bank and Goldman Sachs argued that the government is unlikely to change its economic policies.

Deutsche Bank in a report on April 1 that it is constructive on Turkish assets following the results of the March 31 elections.

Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) has called on U.S. investors to invest more in Türkiye.

Türkiye's leading business associations have welcomed the government's new medium-term program, as they expect the economic roadmap to increase predictability.

The new medium-term program, which covers 2024-2026, outlines a comprehensive strategy aimed at reducing inflation, fostering growth and addressing various key challenges.

Türkiye and Saudi Arabia may boost the bilateral trade volume to $30 billion in the medium and long term, Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) has said.

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Brothers Rifat and Asim, both traders, lived in the Albanian coastal city of Durres in the first half of the last century, Asim born in 1900, and Rifat in 1910.

The older brother married a woman called Hatixhe and they were blessed with 15 children, of which 10 survived into adulthood. The last was born in 1946.

Treasury and Finance Minister Nureddin Nebati has said he had a "fruitful" meeting with the representatives of the business world in Istanbul.

"We held a productive meeting today with our representatives from the business world, the real sector and [nongovernmental organizations] NGOs," Nebati wrote on his Twitter account on Dec. 11 after the meeting.