Bazaar Times

04/06/2026

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.

04/06/2026

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.

04/06/2026

Türkiye’s total fishery production increased by 11.1 percent in 2025 compared to the previous year, exceeding 1 million tons, according to data from the Turkish Statistical Institute (TÜİK) on June 4.

Aquaculture remained the dominant source of output, accounting for more than three-fifths of total production.
Of the total, 33.4 percent consisted of captured marine fish, while other marine products and inland water catches each represented 3.1 percent. Aquaculture products made up the largest share at 60.4 percent. Overall capture production stood at 410,428 tons, while aquaculture output reached 626,591 tons.

Marine capture showed strong growth, rising 17.3 percent year-on-year. In contrast, inland water capture declined by 4.3 percent. The total quantity of captured sea fish amounted to 346,366 tons.

04/06/2026

Abu Dhabi Real Estate Centre (ADREC), the regulatory authority overseeing the emirate’s real estate sector, has announced the suspension of any rental increases on lease contracts until further notice. The move is expected to strengthen market stability and protect tenants from sudden rises in rental values.

In official responses issued by its customer support team, ADREC clarified that no rental increases may be applied to lease agreements, whether for new contracts or renewals of existing ones. The approved rental value will remain the same as the last amount stated in the previous contract, with no increases permitted.
The decision comes at a time when Abu Dhabi’s real estate sector is experiencing sustained growth, driven by rising demand for residential and commercial properties, as well as increasing local and foreign investment in the market. This makes regulating the relationship between landlords and tenants one of the key challenges in maintaining balance and long-term sustainability.

04/06/2026

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.

04/06/2026

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.

03/06/2026

03/06/2026

Masar launched a new massive development, Masar Gardens, in Makkah next to Masar Destination. The company announced the development of the western and southern Hindawiyah districts in Makkah under the name “Masar Gardens,” covering an area of ​​1.2 million square meters, through a partnership with Makkah Construction and Development Company and Al Rajhi Real Estate Union

Masar's updated five-year strategy (2026–2030) outlines a strategic shift from a destination developer to a multi-destination urban development platform within the Western Region. Over recent years, the company has demonstrated significant achievements, including: Annual revenue growth exceeding 60%, Profit growth surpassing 45%, and Development investments approaching SAR 40 billion.

Masar Destination, the company's ongoing urban mega-project, is valued at $26.67 billion and extends 3.65 kilometers in length and 300 meters in width through the western gateway of Makkah, Saudi Arabia. Owned and developed by the Umm Al Qura for Development and Construction Company (a subsidiary of the Saudi Public Investment Fund), the project aims to seamlessly connect the outskirts of Makkah directly to the Masjid al-Haram (Grand Mosque) squares.

02/06/2026

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.

02/06/2026

Some cafes in Istanbul have begun introducing measures against remote workers and freelancers who spend long hours occupying tables with their laptops, with some venues going as far as banning laptop use on weekends, local media has reported.

The post-pandemic surge in remote and freelance work models across the city has sparked escalating tension between cafe owners and these long-staying customers who use the businesses as informal workspaces for extended periods.

In bustling districts like Beşiktaş, Kadıköy and Şişli, groups of remote workers have become a common sight, filling cafes from the early hours of the morning.

However, business owners say these customers often fail to generate the level of revenue needed to offset rising operational costs, including rent, energy bills and staff wages.

Faced with mounting expenses and customers who occupy tables for hours while making only limited purchases, many cafe operators have started implementing restrictions aimed at protecting profitability.