Erdogan Courts Gulf’s Billions After Wrong-Way Bet on Egypt - Bloomberg:
"Turkish Prime Minister Recep Tayyip Erdogan is seeking to limit the economic costs of picking the losing side in the regional power struggle over Egypt.
Turkish officials are courting investors from the oil-rich Arab monarchies that have backed Egypt’s new military rulers with billions of dollars in aid. The push shows how Erdogan’s fury over the ouster of his Islamist ally Mohamed Mursi is balanced by the growing importance of the region for Turkish exporters and companies such as airport operator TAV Havalimanlari Holding AS. (TAVHL)
The Abu Dhabi National Energy (TAQA) Co., known as Taqa, froze a $12 billion power project in Turkey after Mursi’s fall, while Turkish exports to Egypt have declined. Efforts to repair the damage include visits to the Gulf by President Abdullah Gul and Finance Minister Mehmet Simsek, as well as a real-estate and energy conference for Arab investors in Istanbul."
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