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ARMENIAN DIASPORA TRYING TO BLOCK INVESTMENT INFLOW
Daily Sabah, Turkey
March 2 2015
KERIM ULKER
ISTANBUL
The Armenian diaspora has started a campaign to urge foreign
investors to withdraw their investments from Turkey as the 100th
anniversary of the so-called Armenian Genocide on April 24 draws
near. The diaspora community, which continues political pressure
for what it calls genocide to be recognized across the world, is now
trying to economically sabotage investments in Turkey. The campaign,
DivestTurkey - withdraw your investments in Turkey - has commenced,
which has resulted in the University of California, Berkeley, in the
U.S. withdrawing $74 million from Turkey.
The campaign was initiated by the Armenian Youth Federation and is
mainly active in California, where many American universities are
located. The University of California, Berkley called the undergraduate
senate to a meeting on Feb. 18 to discuss the withdrawal of its
investments in Turkey. After the vote, the senate decided to withdraw
its investments in Turkey. The Chairman of the Armenian Student
Association, Sareen Habeshian, said that the decision was not only
a success for California but also a success for Armenian society.
The University of California has funds and investments totalling $74
million in Turkey. While $55.4 million of this amount belongs to the
University of California Retirement Plan, $9.6 million is invested
in government bonds under the General Endowment Pool program.
Furthermore, the retirement plan has $7.27 million stored at Turkish
Exim Bank and the general endowment pool's investments at Exim Bank
are around $1.6 million.
Last week, the Armenian diaspora had pressured the coffee chain
Starbucks, which puts up posters and flags of countries it operates
in showing local themes, to take down the flags of Turkey from its
various stores in California. As a result, Starbucks has decided to
stop its promotion of Turkey.
http://www.dailysabah.com/money/2015/03/02/armenian-diaspora-trying-to-block-investment-inflow
Daily Sabah, Turkey
March 2 2015
KERIM ULKER
ISTANBUL
The Armenian diaspora has started a campaign to urge foreign
investors to withdraw their investments from Turkey as the 100th
anniversary of the so-called Armenian Genocide on April 24 draws
near. The diaspora community, which continues political pressure
for what it calls genocide to be recognized across the world, is now
trying to economically sabotage investments in Turkey. The campaign,
DivestTurkey - withdraw your investments in Turkey - has commenced,
which has resulted in the University of California, Berkeley, in the
U.S. withdrawing $74 million from Turkey.
The campaign was initiated by the Armenian Youth Federation and is
mainly active in California, where many American universities are
located. The University of California, Berkley called the undergraduate
senate to a meeting on Feb. 18 to discuss the withdrawal of its
investments in Turkey. After the vote, the senate decided to withdraw
its investments in Turkey. The Chairman of the Armenian Student
Association, Sareen Habeshian, said that the decision was not only
a success for California but also a success for Armenian society.
The University of California has funds and investments totalling $74
million in Turkey. While $55.4 million of this amount belongs to the
University of California Retirement Plan, $9.6 million is invested
in government bonds under the General Endowment Pool program.
Furthermore, the retirement plan has $7.27 million stored at Turkish
Exim Bank and the general endowment pool's investments at Exim Bank
are around $1.6 million.
Last week, the Armenian diaspora had pressured the coffee chain
Starbucks, which puts up posters and flags of countries it operates
in showing local themes, to take down the flags of Turkey from its
various stores in California. As a result, Starbucks has decided to
stop its promotion of Turkey.
http://www.dailysabah.com/money/2015/03/02/armenian-diaspora-trying-to-block-investment-inflow