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.
Yogurt lovers can take their obsession to the next level with the grand opening of the Chobani flagship store this week in New York City. The first of it’s kind, you can get handcrafted yogurt creations made before your eyes, in the new SoHo shop. Today I stopped by to try out a few of the custom flavors that are carefully crafted so you don’t wind up creating a calorie-loaded mess (you know you add one too many toppings when left to your own devices).
With a growing population and booming economy to cater for, Turkey’s food industry is in excellent health. But it is also highly competitive and fragmented. Just 22 food and drink manufacturers are listed on the Istanbul stock exchange and there are relatively few well-established brands. The market is dominated by a large number of small and medium sized family run companies, buffeted by widely fluctuating margins.
Empire State Development approved a grant of up to $1.5 million for Chobani Inc., a manufacturer and top seller of Greek-style yogurt in the United States, for the installation of new machinery in an 80,000-square-foot addition to the company’s existing plant in New Berlin in Chenango County.
