Thomas Edison

Turkish contractors have secured $17.6 billion in international projects in the first 10 months of the year, according to data from the Trade Ministry.

Despite challenges like the pandemic and the Russia-Ukraine war, Turkish contractors continue to thrive.

Türkiye's external assets increased by 0.5 percent from the end of 2022 to amount to $307.6 billion as of March, according to the data from the Central Bank.

The country's liabilities against non-residents fell by 5.4 percent over the same period to $555 billion.

Türkiye's external assets exhibited an increase of 2.7 percent from the end of 2021 to reach $296.1 billion as of the end of August, data from the Central Bank have shown.

Türkiye's external assets stood at $281 billion in June, indicating a decrease of 2.5 percent compared to the end of 2021, and liabilities against nonresidents amounted to $503.5 billion, falling by 7.1 percent, the Central Bank said yesterday.

Turkish contractors were awarded a total of 156 projects worth $5.94 billion in foreign countries from January to July this year, data from the Trade Ministry have shown.

The average size of the projects awarded to Turkish companies abroad in the first seven months of the year was $38 million, according to the ministry.

Israel-focused Energean Oil & Gas Plc on Monday agreed to sell Edison E&P North Sea assets to Neptune Energy Group for up to $280 million, as part of an ongoing plan to sell non-core assets.
Energean, which is focused in the Mediterranean, will sell Edison E&P's UK and Norwegian units for $250 million, with additional cash contingent consideration of up to $30 million.

Israel-focused gas driller Energean has emerged as the front-runner in the race to acquire Italian energy group Edison's oil and natural gas unit, two sources directly involved in the deal said.
The acquisition would significantly expand Energean's operations in the growing Eastern Mediterranean gas hub with a significant presence in Egypt's offshore basin.

A General Electric (GE) factory in eastern France where the U.S. group is planning job cuts will not close down, and the firm is looking into alternatives there including building aeronautical parts, GE's French boss said in a media interview.

GE Renewable Energy and Fina Enerji signed an agreement on March 12 to work on eight potential projects providing up to 410 megawatts (MW) by the end of 2020, the companies have said in a statement. 

General Electric has reached an agreement to sell its overseas lighting operations in Europe, the Middle East, Africa and Turkey, the conglomerate said on Feb. 15.