Reported bombing turns out to be gas explosion

Police say that a reported bombing in Istanbul’s Eminonu district Thursday, that wounded three, was actually a gas explosion.

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Turkey and Iraq agree on PKK deal

Turkey and Iraq agree on a deal, which would allow Turkish forces to cross into Iraq in order chase the PKK. More details about the agreement have not been released.

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Citigroup’s investment in Boyner approved

Turkey’s antitrust regulator approves Citigroup’s purchase of a stake in Boyner. Citigroup plans to purchase 30% of the department store for around $48 million.

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Turkcell’s 3G tender canceled

Turkcell’s tender for 3G is canceled due to lack of competition. Vodafone and Avea did not enter bids because they want mobile number portability before 3G is implemented .

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Students ride for free in Istanbul

This week public transportation will be free for students in Istanbul between 6:00-10:00 and 16:00-20:00. Taxis will be 50% off for 3 days during these times as well.

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Istanbul 2nd most dangerous city in Europe

Istanbul is ranked the second most dangerous city in Europe (out of 75 cities) according to a Eurobarometer study for the quality of life.

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5M Migros stores opening up this week

Migros says it has restructured several stores and reclassified them “5M” Migors. The new 5M Migros stores will open in Antalya, Istanbul and Ankara this week.

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Ramadan begins

Muslims in Turkey celebrate the start of the holy month of Ramadan Thursday.

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Condoleezza Rice planning to attend summit on Iraq

US State Department announces Tuesday that Secretary of State Rice plans to participate in a summit being held in Istanbul in October on the situation in Iraq.

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Migros sells its Ramenka stake to Enka Inssat

Migros agrees to sell its 50% stake in Russian retailer Ramenka to Enka Insaat for $542.5 million. Koc said it is looking into additional sale options for Migros.

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