Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Saturday, Apr 01, 2023

Alibaba plans $1 bln logistics hub at Istanbul Airport, data center near Ankara

Alibaba plans $1 bln logistics hub at Istanbul Airport, data center near Ankara

Alibaba Group Holding Ltd. will invest more than $1 billion in Turkey for a logistics hub at Istanbul’s airport and a data center near the Turkish capital, said president Michael Evans.
“We have a serious investment plan at Istanbul Airport. From here, we can evaluate e-export plans to Europe, the Middle East and the Far East,” Evans said in an interview with the Sabah newspaper published on Sunday.

Alibaba is targeting Turkey for expansion because of its strong production capacity that could back e-commerce and become part of the company’s supply chain in Europe and the Middle East, Evans said. Expanding commerce and cloud—based units are expected to lift the company’s revenue.

Evans, a former Goldman Sachs Group Inc. executive, urged Turkey to improve its e-commerce regulations to address “certain shortcomings to have fair competition,” Sabah reported without elaborating.

Along with a logistics hub at Istanbul’s airport, the biggest in the country, the Chinese e-commerce giant plans to build Turkey’s biggest data center in Temelli, near the capital of Ankara, Sabah cited Evans as saying.

The Alibaba-backed e-commerce platform Trendyol has become Turkey’s largest startup. Asked whether Alibaba has plans to enter the stock market in Turkey through Trendyol, Evans said “I think it is advantageous to be a public company. But this has to be decided by Trendyol management. If they want to go public, we will support them. I think this will happen as Trendyol grows.”

Trendyol Group President Caglayan Cetin, who also participated in the interview with Sabah, said the company has no immediate need to raise capital by going public.

“We don’t have such a plan in the short term. If we achieve growth targets we want in a short time, then it may be possible within a 3- to 5-year window,” Cetin told Sabah.
Newsletter

Related Articles

Hong Kong News
Close
0:00
0:00
Don’t Dismiss China’s Peacemaking Bid
Austrian Parliament members walk out when Volodymyr Zelensky begins speaking.
Father obliterates council members following viral TikTok of biological male masturbating in women’s bathroom..
Tsai Ing-wen received a "warm welcome" from the Chinese people in the US.
EU's von der Leyen: "We know this is an era where we rely on one single supplier. China. 98% of our rare earth supply."
China and Brazil have signed a new deal that will allow them to trade in their own currencies, bypassing the US dollar as an intermediary
Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society’
“We've had evidence prior to the pandemic that masks were largely ineffective at preventing community transmission of influenza “
Former Starbucks CEO Howard Schultz:
Former Starbucks CEO Howard Schultz rejects being labeled a "billionaire"
Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits
Brand new security footage has just been released to the public showing the Active shooter Audrey Elizabeth Hale drove to Covenant Church School in her Honda Fit this morning, parked, and shot her way into the building
Social Media censoring users for saying the true
Smart Iranian fashion designer teaching dummy TV anchors lesson about reality
AMERICA, 2023
U.S. charges FTX's Bankman-Fried with paying $40 million bribe
Fallen 'Crypto King' Who Owes Millions to Investors Was Kidnapped and Tortured
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'
AOC explains why she opposes banning TikTok
Singapore’s Prime Minister says China and US need to stabilize relations because world can't afford a confict between the two superpowers
In a dramatic U-turn against His Government: Judicial Reform Legislation Must Be Halted, Says Israeli Defense Minister Yoav Gallant
Gordon Moore, a co-founder of Intel Corporation, died at 94
Powell: Silicon Valley Bank was an 'outlier'
Bordeaux town hall set on fire in France pro democracy protest
Police violence in Paris
Paris: Some of the police are stepping down and showing solidarity with the protesters.
Donald Trump arrested – Twitter goes wild with doctored pictures
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
Paris Rioting vs Macron anti democratic law
'Sexual Fantasy' Assignment At US School Outrages Parents
The US government has charged Chinese businessman Guo Wengui with leading a $1 billion fraud scheme that cheated thousands of followers out of their money.
Credit Suisse to borrow $54 billion from Swiss central bank
The BBC problem about China
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
Announcing GPT-4
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
'No relation to the American SVB': India's SVC Bank acts to calm depositors amid brand name confusion.
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Silicon Valley Bank exec was Lehman Brothers CFO
In a potential last-ditch effort, HSBC is considering a rescue deal to save Silicon Valley Bank UK from insolvency
Saudi Arabia has announced a major breakthrough in diplomacy with Iran after two years of intense talks
Elon Musk Is Planning To Build A Town In Texas For His Employees
×