Turkey sees 36 pct rise in new companies

ANKARA The number of newly established companies in Turkey soared by 36.34 percent year-on-year in September, the Turkish Union of Chambers and Commodity Exchanges (TOBB) revealed on Friday. According to the organization, some 5,050 companies were formed in the month, up from 3,704 in September 2016. The figures showed that 884 companies went out of business in September, which also saw an increase of 6.25 percent compared to the same month last year. A total of 541 foreign-partnered or foreign-funded new companies launched in the month. In the first nine months of the year, 53,137 new companies started doing business in Turkey, an annual increase of almost 11 percent, according to the TOBB. The number of foreign-partnered or foreign-funded new companies reached 4,499 in the same period.