29 August 2009 /TODAY'S ZAMAN WITH WIRES
Leading Turkish conglomerate Koç Holding announced on Friday in a written statement that it had earned a net profit of TL 667 million in the first six months of the year.
Commenting on current market developments, Koç Holding CEO Bülent Bulgurlu said in the statement that the ongoing global economic crisis had also affected the holding and its figures negatively. “The government should continue its focus on the economy in the second half of the year just as it did in the first half to help revive domestic demand,” Bulgurlu said. He also said Koç expects the government take new measures to this end. Recalling the government's medium-term economic program, studies on which are still under way, he said the program should be completed soon so as to address problems in the economy before they grow worse. Bulgurlu said they expect the second half to be relatively tougher for the markets, adding, however, that precautions implemented by the government and the central bank's interest cuts could help rejuvenate domestic demand. “It is of utmost importance that measures continue to be taken until a sustainable recuperation is maintained in the market,” he said. All of society, from civil society organizations to businessmen, should shoulder this responsibility, Bulgurlu said, adding that a healthy supervision of the financial sector is also necessary for the future of the markets.