Bazaar Times

Türkiye has emerged as the fourth largest bicycle producer in Europe, according to an industry representative.
The country also ranks sixth in Europe in bicycle and e-bikes sales, Bayram Akgul, president of the World Bicycle Industry Association (WBIA), told Anadolu.

However, domestic demand is lagging, he said on the occasion of World Bicycle Day on Wednesday.
“The Confederation of the European Bicycle Industry (CONEBI) reported last year that Türkiye’s production capacity is strong but it’s not sufficiently reflected in the domestic market,” he said.

One of the key reasons is that bicycles are not used as a mode of transportation in daily life, he said.

“Closing this gap via safe and uninterrupted bike paths and incentives are our top priority.”

Akgul stated that Türkiye produced 1.38 million units of bicycles and e-bikes in total in 2024, ranking among the top four manufacturers in Europe alongside Portugal, Italy, and Germany.

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, announced the launch of its fully regulated AED on and off ramp solution in the UAE, enabling users to move between fiat and crypto with a level of simplicity, cost efficiency, and trust that marks a new chapter for digital assets in the region.

For years, entering crypto often meant navigating fragmented systems, hidden fees, or relying on peer to peer methods that left users questioning both cost and security. Today, that experience changes.

With direct integration into the UAE banking system through Abu Dhabi Commercial Bank, one of the country’s most established financial institutions, Binance users can deposit AED into their accounts with zero fees (minimum Dh10 and maximum Dh7,200,000 per day) and withdraw funds at some of the lowest costs in the market (minimum Dh11 and maximum Dh7,200,000 per day).

Transactions are processed seamlessly, within the same business day, and conducted entirely in AED, removing the friction of foreign exchange conversions and unnecessary intermediaries. This is more than a product launch. It is the removal of the final barrier between traditional finance and crypto in one of the world’s most forward looking regulatory environments.

Türkiye and France aim to increase their bilateral trade volume to $30 billion by 2030, Turkish Trade Minister Ömer Bolat has announced.
Bolat traveled to Paris on June 2 for a two-day trip, where he met with members of MEDEF, the leading French business organization, and members of the World Turkish Business Council (DTİK) in France. He also held bilateral talks with French Minister Delegate for Foreign Trade and Economic Attractiveness Nicolas Forissier.

Bolat described the meetings as productive. He noted that senior executives from approximately 24 French companies operating in Türkiye participated in the MEDEF meeting.
“We discussed Türkiye-France relations and the strong potential for economic growth. We also addressed Türkiye–European Union relations, the ‘Made in EU’ debate, and the possibility of much stronger economic integration between Türkiye and the EU. They share the same perspective,” Bolat said.

Istanbul’s taxi problem can be solved by improving efficiency rather than increasing the number of cabs, according to İsmet Dalcı, the head of the Istanbul Taxi Drivers Chamber (İTEO).

Dalcı noted that Istanbul currently has 20,311 taxis operated by around 60,000 drivers, but emphasized that the core issue lies in how efficiently those taxis are used.
“Istanbul taxis operate at 48 percent efficiency. A taxi that drives 100 kilometers is occupied for only 48 kilometers and runs empty for 52 kilometers. This is very low,” he said.

“If we increase efficiency from 48 percent to 90 percent, it would have the same impact as adding 8,531 new taxis without increasing the actual number,” he explained.
Dalcı also criticized the complexity of the current system, noting that Istanbul has five types of taxis — yellow, turquoise, yellow-black, black and app-based.

“Neither passengers nor taxi drivers fully understand even the base fares. This should not be the case,” he said. “In a city like Istanbul, there should only be two types: standard yellow taxis and black VIP taxis that can carry up to eight passengers.”

He added that the chamber plans to propose the “Singapore model” to local authorities.

UAE motorists are paying more at the pump for a fourth straight month, with petrol prices rising by nearly 8% in June. Yet despite the increase, local fuel costs remain below many major international markets as global oil prices cool from recent highs.

New June fuel prices are: Super 98, Special 95, and E-Plus 91 was up between 7.9% and 8.0%, while the costs of diesel was down 7.7%. The latest revision extends the gains in petrol prices, but compared with the dramatic jumps seen in April and May, June’s increase is far less dramatic.

Crude prices have cooled sharply in recent days. Brent crude, which surged above $110-$120 per barrel earlier this year during the height of Gulf shipping disruptions, has since fallen to around $91-$95 as optimism grows around US-Iran negotiations and a longer-lasting ceasefire.
That means June could become a transition month where fuel prices remain elevated, but the pace of increases begins to slow.