EXTRACT: Oil giants Shell and BP are in Turkey, as are Cadbury Schweppes and British Airways.
By Philip Aldrick
Last Updated: 1:19am BST 01/05/2007
Fears of a military coup sent Turkey’s stock market and currency tumbling yesterday.
The Turkish lira suffered its largest drop in seven months amidst fears of a military coup.
The Turkish lira slid 2.43pc, its largest drop in seven months, and the main stock market index fell 4pc, wiping $7.8bn (£3.9bn) from share values, as economists recommended taking “a defensive strategy to Turkish assets” amid fears for the country’s democracy.
British companies in Turkey were keeping a close eye on developments. Among the largest is HSBC, which made $217m profit in Turkey last year and employs 5,300 staff.
A spokesman said the bank planned to grow its branch network “significantly” from 192 over the next two years and the strategy “had not changed” despite the army’s warning on Sunday that it would “take action” if Turkey’s secularism was threatened by elections.
British companies have been rapidly growing their presence in Turkey. In 2005, Vodafone bought Telsim, Turkey’s second largest mobile phone group, for $4.55bn, citing the attractive demographics of the fast-growing and young population. Tesco has 4,500 staff at 20 stores. GlaxoSmithKline employs 730, mostly sales, staff and British American Tobacco has 300 people on the payroll.
Oil giants Shell and BP are in Turkey, as are Cadbury Schweppes and British Airways.
Deutsche Bank’s chief economist for Turkey Tevfik Aksoy said foreigners are worryingly exposed to the Turkish markets. He said: “Local investors’ perception of political risk has manifested itself with the rise in foreign exchange deposits. By contrast, non-residents have been building positions in the local debt market as well as equities.”
The main stock market index reached an all-time high on April 25 and has climbed 15pc this year, more than double the gain for MSCI benchmark emerging market index. Turkey received a record $19.8bn in foreign investment last year and economic growth has averaged 7pc since.
Figures from the Office of National Statistics show British exports to Turkey were up 11pc in 2006, driven by financial services.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/05/01/cnturkey01.xml
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
