Turkish Skyline Foreshadows Emerging-Market Slowdown

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Sapphire Tower - Ayman Oghanna for The New York Times
In a city where skyscrapers sprout like weeds, none grew as high as the Sapphire tower in Istanbul. Today, it stands as a symbol of how far the mighty may fall. Like the vast majority of new buildings that have blanketed the Istanbul hills in recent years, the Sapphire — at 856 feet it is the tallest in Turkey and among the loftiest in Europe — was built on the back of cheap loans, in dollars, that have flooded Turkey and other fast-growing markets like Brazil, India and South Korea. The money began to flow when the Federal Reserve and other major central banks cut interest rates to the bone in 2009 and cranked up the printing presses in a bid to spur recovery in United States and other advanced industrial nations.

Why Muslims Love Turkish Soap Operas

Image ISTANBUL— Caroline is sitting in the passenger seat of the gray Mercedes 200. She turns to Ibo, and says, “Take me home please.” Ibo’s eyes light up at the thought. “With pleasure,” he murmurs. “We can have coffee in your new house and speak a bit.” Caroline feigns outrage. “Ibo, you’re still married, you saw Mesude, she was like crazy,” she says in her deliberately broken Turkish. “I am afraid of her. They’re going to get the police. You and I … the same house—no.”  “OK,” says Ibo, in full retreat. “I'll try to be patient until the divorce.”

Dubai's Abraaj Invests in Serdar Bilgili's BLG Capital

ImageDubai-based Abraaj Group on Thursday announced the acquisition of a significant stake in Republika Academic Apartments, consisting of two student accommodation assets totalling 1,274 beds in Turkey. The transaction gives Abraaj substantial ownership of two exceptional quality assets, the investment firm said in a statement. The properties are situated in Ortakoy and Buyucekmece, both strong catchment areas for students, young professionals and apartment hotel guests in Istanbul, it added without giving a value for the company's investment.

Soccer Legend Zico Opens Soccer Academy in Danbury, Connecticut

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Zico is in New York at his soccer camp.
DANBURY -- Brazilian soccer legend Zico opens opens his first soccer academy in the U.S. His soccer academy in Danbury Sports Dome will be operating during the year. Zico, a three-time member of Brazilian World Cup teams who was consistently named one of the best players in the world during the 1970s and '80s, said he was thrilled to bring his academy to Danbury. While the soccer legend already has an academy in Brazil and runs clinics and camps in major cities throughout the country, the academy here will be his first in the U.S. The dome, an inflatable facility that has been under construction for more than a year, is openning on August, 10th.

Dr Oz's Israel Visit

Image Dr. Mehmet Oz sat down to talk with JTA on the Tel Aviv coast last week, but what he really wanted to do was go to the beach. Oz, the surgeon and well-known TV personality, was in Israel for the first time and had a packed itinerary. He traversed the country from the Red Sea to the Golan, lectured Israeli physicians in a northern Israeli hospital and met with Prime Minister Benjamin Netanyahu. His host on this whirlwind tour was Rabbi Shmuley Boteach, the author and sexpert who lives in New Jersey. The two met when they were both on an Oprah Winfrey radio program. Boteach recently gave Oz an award for being a “champion of Jewish values,” and the trip was paid for by casino mogul Sheldon Adelson, another recipient of the award.

Turkey's Scrap Imports Down 18.25 Percent in H1

Image According to the data provided by the Turkish Statistical Institute (TUIK), in the first half of this year Turkey's steel scrap import volume saw a significant decline of 18.25 percent compared to the same period of the previous year, amounting to 9.3 million mt. In addition, the country's scrap imports in June fell 13.8 percent compared to June 2012, amounting to 1.7 million metric tons.

Cano Ozgener: The Man from Oz

Image by Carol Caldwell- photography by Hollis Bennett - From the moment we first met, Cano Ozgener put a spell on me. The man is a magus. Everything he touches turns to gold. CanoIn his first life, Cano turned himself from apprentice at his father’s business designing jewelry in Istanbul to a brilliant career in the New World at engineering research, and now, in Nashville to stay, he has a collection of Turkish meerschaum pipes unrivaled anywhere on earth. From this obsession must have stemmed his next manifestation as maker and purveyor of fine, handmade cigars. Cano, pronounced Johno, turned the profits from the sale of his cigar empire, CAO, into a sprawling, modern compound seated next to the landing strips at John Tune airport. This alchemist with the golden touch then tapped his magic wand and brought forth OZ Arts, a non-profit organization meant to foster the visual and performing arts in Middle Tennessee.

'Dr. Oz' and Rabbi Boteach Arrive in Israel

Both Dr. Mehmet Oz, host of the wildly popular The Dr. Oz Show and Rabbi Shmuley Boteach arrived in Israel from the US on Sunday together with their families, for a week-long visit. Boteach, dubbed “America’s rabbi” by the media, is hosting Oz – who is often called “America’s doctor” – and his family during their joint sojourn. The trip, Oz’s first to Israel, will include a panel discussion including Jewish Agency chairman Natan Sharansky and moderated by The Jerusalem Post editor-in-chief Steve Linde at the Jerusalem Press Club on Monday evening.
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