Sumitomo Mitsui Financial Group Inc. (8316), Japan’s second-largest bank by market value, is in talks to expand in Turkey as an accelerating economy stokes demand for bank services, two people familiar with the situation said. Sumitomo Mitsui and the Ankara-based Investment Support & Promotion Agency are working on an accord for the Tokyo-based lender to expand from a representative office of its unit Sumitomo Mitsui Banking Corp. in Istanbul, said the people, declining to be identified because the process is confidential.

NEW YORK, Jul 17, 2012 (BUSINESS WIRE) -- The Turkish Investment Fund, Inc. TKF -0.84% (the "Fund") announced today that, in accordance with the Fund's tender offer for up to 1,123,817 of its issued and outstanding shares of common stock, which expired at 11:59 p.m. New York time on July 10, 2012, the Fund has accepted 1,123,817 shares for payment on July 18, 2012, at $15.31 per share, which is equal to 98.5 percent of the Fund's net asset value per share as of the close of regular trading on the New York Stock Exchange on July 11, 2012. The 1,123,817 shares represent 15 percent of the Fund's outstanding shares. A total of 3,609,210 shares were properly tendered and not withdrawn by July 10, 2012, the final date for withdrawals. Therefore, on a pro rata basis, after making the odd-lot adjustment, approximately 29.70 percent of the shares so tendered by each tendering stockholder have been accepted for payment.