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U.S. Should Legalize Drugs, Says Former Mexican President Fox

Image Former Mexican President Vicente Fox said this week that the only way to end the drug violence plaguing his country is for the United States to legalize drugs.

"As a country, we are going through problems due to the fact that the United States consumes too many drugs," Fox, who served as Mexico's president from 2000-2006, told reporters Monday night before a speech at the Turkish-American Chamber of Commerce in San Antonio.

"I would recommend to legalize, de-penalize all drugs," Fox added. He said the drug violence threatens to rip his country apart. It has claimed more than 37,000 lives in Mexico since 2006, when President Felipe Calderon took office and sent the army to combat cartels fighting for smuggling routes to the United States.

President Barack Obama has made it a priority to work with Calderon to curb smuggling over the nearly 2,000-mile border, a lucrative transit point for criminal networks hauling drugs and illegal immigrants north to the United States and guns and billions in cash profits south to Mexico.

Turkey, Kyrgyzstan Aim to Boost Trade

Image A week ago, Kyrgyz Prime Minister Almazbek Sharshenovich Atambayev arrived in Turkey for a two-day visit, meeting with top officials and attending the Turkey-Kyrgyzstan Trade and Investment Forum organised by Turkish Confederation of Businessmen and Industrialists.

"This is exactly the time to invest [in Kyrgyzstan]," Atambayev said in Ankara. "We are brothers and friends. We have a history we are proud of. Our future will also be common and glorious."

Despite the cultural and historical ties, the two countries have struggled to boost bilateral economic ties.

"Uzbekistan and Turkmenistan have gas. Kazakhstan has oil and gas. Tajikistan has aluminum," explained Oleg Samukhin, transport economist from the USAID Regional Trade Liberalisation and Customs Project. "Kyrgyzstan does not have much to offer."

Nissan Wins Contest to Supply Next Fleet of New York Taxis

ImageNissan Motor Co., Japan’s second- biggest carmaker, was chosen to supply New York’s next fleet of yellow taxi cabs, a deal city officials valued at $1 billion over 10 years.

Nissan beat out proposals from two other finalists in the “Taxi of Tomorrow” competition: Ford Motor Co. (F) and Karsan Otomotiv Sanayi & Ticaret AS of Turkey, Mayor Michael Bloomberg said today. The automaker’s NV200 minivan will become the new standard, eventually replacing the city’s 13,237-car fleet, which now consists of 16 models.

Turkey Plans New Canal for Istanbul

Image Heating up the campaign for the coming parliamentary elections, Turkey’s governing party on Wednesday unveiled a proposal to build a canal parallel to Istanbul’s Bosporus that would be longer than either the Panama or Suez canals.

Details of the plan, which has been speculated about privately in recent months as the “crazy project” of Prime Minister Recep Tayyip Erdogan, had been kept under wraps, but on Wednesday it immediately became the centerpiece of his party’s bid for a third term in power.

The pro-Islamic Justice and Development Party, known as the AKP, foresees a 28- to 30-mile canal connecting the Black Sea in the north to the Marmara Sea in the southwest that would be a safer alternative for heavy tanker ships than the natural Bosporus straits, which run through the heart of Istanbul, a city of around 15 million people.

The plan aims to divert ship traffic along the Bosporus that sometimes numbers 149 tankers a day carrying natural gas, crude oil, chemicals and other industrial goods.

TCA, TCF Host Historic Dinner with House Speaker

ImageThe Turkish Coalition of America (TCA) and the Turkish Cultural Foundation (TCF) were honored to host Congressman John Boehner (R-OH), the Speaker of the House, at a dinner in Washington, D.C.
 
Speaker Boehner was joined at the dinner by Congresswoman Ileana Ros Lehtinen (R-FL), chairwoman of the House Foreign Affairs Committee, as well as Congressman Ed Whitfield (R-KY) and Congresswoman Virginia Foxx (R-VA), two co-chairs of the Turkey Caucus.
 

Top Sponsor CEO Pay

Image Total compensation for executives from TOP sponsors Coca-Cola, Dow Chemical, General Electric, Procter & Gamble and Visa was released in a New York Times report Friday on the pay of major U.S. corporate leaders.

Coca-Cola CEO Muhtar Kent had the highest total compensation with $19.2 million in 2010, a 30 percent increase from $14.8 million in 2009. According to the report, Kent was the 20th highest paid CEO and the highest of the TOP sponsors.

New TOP sponsor Dow Chemical reported its CEO Andrew Liveris had total compensation of $17.7 million in 2009, up 13 percent from $15.7 million in 2009.

Procter & Gamble, another newly appointed TOP sponsor, reported its CEO, Robert McDonald, had total compensation of $13.1 million in 2010. Data from 2009 was not available.

CKE Opens Its First Carl's Jr. Fast-Food Restaurant in Istanbul

ImageCKE Restaurants Inc. said Tuesday that it has opened its first Carl's Jr. restaurant in Istanbul, Turkey. The fast-food chain opened in the Cevahir Shopping Mall in central Istanbul. It is the first of at least 25 Carl's Jr. locations set to open in Turkey over the next six years.

The expansion into Turkey is part of CKE's plan to speed up franchise development in overseas markets. "We believe the Turkish market has tremendous potential for our brand given the strength of its economy, the youthful population base and an appreciation for premium-quality burgers. It is also a gateway for European expansion," CKE Restaurants CEO Andrew Puzder said in a statement.

eBay Acquires Turkish Marketplace GittiGidiyor

ImageeBay is announcing the acquisition of Turkish auction marketplace GittiGidiyor. The deal follows eBay’s acquisition of a minority stake in the company in 2007. With the new investment, eBay now owns approximately 93% of the outstanding shares of GittiGidiyor. Terms of the deal were not disclosed.

Launched in, 2001, GittiGidiyor has more than 6.4 million registered users. GittoGidyor is essentially an eBay clone, but localized for the Turkish market. The business also includes a mandatory escrow service for payments between buyer and seller. GittiGidyor’s largest categories are Fashion and Consumer Electronics. In addition to eBay, the company previously raised capital from iLab Ventures, founded and led by Mustafa E. Say.

Moe's Southwest Grill Expands in Turkey

ImageFOCUS Brands Inc., the owner of Carvel ice cream and Cinnabon, will add 50 locations this year to its fastest growing chain, Moe’s Southwest Grill, and expand into Turkey as the global recession recedes.

Atlanta-based FOCUS has signed a franchise agreement to add 40 Moe’s restaurants in Turkey over seven years, marking the brand’s first foray outside the U.S. and Canada, Mike Shattuck, president of FOCUS Brands International, said this week in an interview. The first of the Turkey locations will open in Istanbul’s Sapphire Tower in September, he said.

Moe’s, which serves “Homewrecker” burritos and quesadillas made to order with hand-chopped pico de gallo, will sell more franchise agreements in the first quarter of 2010 than it did all of last year, President Paul Damico said in an interview. Renewed access to financing and a rebound in same- store sales have helped fuel deals, he said.

“When the credit markets freeze up it’s very difficult to fund any kind of expansion if you’re a franchise owner,” Michael Schaefer, a consumer foodservice analyst for Chicago- based researcher Euromonitor Plc, said in an interview. “We’ve definitely seen that easing.”

The Turkish King of Limousines

Image Teaneck, NJ - After learning the secrets of Turkish cuisine, his dream was always to open a restaurant. He was a very talented and hard working man who looked for a bright future for himself. After working eight years in various Turkish restaurants as a head cook, he changed his career from the culinary arts to the sea. Being a sailor was joyful job as a young man and he worked 10 years from port to port in different countries. He traveled to over 40 countries, even though he did not like any of them, and experienced diverse cultures, but he was still seeking a challenge.
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