Türkiye’s national flag carrier announced Tuesday that it would become Liverpool’s main club partner starting next season, in a record deal reportedly worth more than $400 million.

Turkish Airlines (THY) will replace Standard Chartered, the Premier League club’s main club partner for about 17 years, on the front of men’s, women’s and academy match shirts from the start of the 2027-28 season, the sides said.

“From June 2027, Turkish Airlines will become Liverpool FC’s main club partner, bringing together two organizations with a shared international reach and a commitment to connecting people around the world,” the club said.

“LFC’s supporter base spans every continent, while Turkish Airlines connects east and west through the world’s most extensive international flight network, flying to more countries than any other airline from its Istanbul hub.”

The five-year agreement is worth more than 300 million pounds ($405 million), or over 60 million pounds per season, according to reports. That’s higher than the current deal with Standard Chartered said to be worth around 50 million pounds per season.

British media, including the BBC and the Guardian, said the agreement would be the most valuable front-of-shirt-only commercial deal in Premier League history.

“This is a milestone announcement for us and we are delighted to welcome Turkish Airlines as our main club partner from June 2027,” Liverpool Chief Commercial Officer Ben Latty said.

The club said the new partnership will also mark a significant moment in the history of the LFC shirt.

“The front of the shirt is one of the most recognizable positions in world sport and one that the club has historically reserved for long-term and meaningful partnerships,” said the statement.

Latty described Turkish Airlines as a globally recognized organization with an extensive international network, and said they “look forward to beginning our partnership and building a strong relationship together, with already strong foundations built from those special memories back in 2005.”

He was referring to Liverpool’s memorable UEFA Champions League triumph over AC Milan in Istanbul.

Turkish Airlines CEO Ahmet Olmuştur described Liverpool as “one of the world’s most recognized and respected football clubs, with an exceptional heritage and a truly global community of supporters.”

“We are very pleased that Turkish Airlines will become the club’s main club partner and that our name will take its place on one of the most iconic shirts in world sport,” he added.

Standard Chartered, Liverpool’s main club partner since 2010, will retain its current role through the 2026-27 season, and then move into a global partnership role the next year, the club said.

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The Asian Infrastructure Investment Bank (AIIB) announced recently it would be providing up to $75 million in financing to establish an advanced green manufacturing facility in northwestern Türkiye, further expanding its support and portfolio in the country.

The AIIB made another investment as part of ongoing efforts to develop Türkiye’s advanced technology and green manufacturing capacity.

The advanced plant planned to be built in the northwestern province of Kırklareli will be established by Chinese manufacturer Great Rich Technology (GRT), marking the firm’s first production base outside China.

The facility will be co-financed by the World Bank Group’s International Finance Corporation (IFC), and it will produce energy-efficient window films, paint protection films, and specialized materials to absorb carbon dioxide and volatile organic compounds.

The investment aims to reduce industrial emissions, expand the availability of low-emission advanced materials in emerging markets, and help solidify Türkiye’s position as a manufacturing hub bridging Europe, Asia and other neighboring markets.

Ajay Bushan Pandey, vice president of the AIIB, told Anadolu Agency (AA) in remarks published on Tuesday that the bank made its second-largest investment among all its members in Türkiye over the past decade.

“$9 billion and about 40 projects we have invested in, and then there are many more projects in the pipeline,” he said.

“We have our second-largest investment in Türkiye, (and) the only country that is first is India, … but if you look at it per capita-wise, I think Türkiye will be the highest.”

Pandey stated that investments in Türkiye are carried out via public- and private-sector entities and local financial institutions, with the AIIB having a wide range of established partnerships with other development banks in the country.

He noted that Türkiye remains committed to contributing to infrastructure development in the public and private sectors, as there is massive potential to implement more projects and secure additional financing, while the bank provides funding for projects directly or organizes financing through collaboration with development banks or financial institutions within the country.

Pandey suggested that the AIIB’s current portfolio is more concentrated in energy, transportation, waste management, urban development and climate resilience, while the bank has also approved a geothermal project for Türkiye.

“If you look at COP31 (or the U.N. Climate Change Conference), these are the themes: sustainable cities, electrification and zero waste – all those are already in our portfolio, and these are the portfolios where we would like to do more,” he said.

He noted that energy security has become a key area in the current geopolitical situation, with “every country looking for energy security.”

“And if you are talking about energy security, then renewable energy and electrification are a very, very integral part of your energy security policy, and this is precisely what Türkiye is currently focusing on,” he said.

Pandey stated that the bank aims to boost its portfolio in Türkiye, as “there is no limitation or target” when it comes to implementing projects in the country.

“If we are able to identify good projects along with the Turkish government, we can finance them; therefore, we do not have any such target or limitation – let’s say if we are able to identify 10 projects, we will try to finance all 10 over the next few years,” he said.

He noted that seeking solutions to climate issues is key to developing infrastructure.

“We have seen that there is a huge gap between what Asian infrastructure will require over the next few years and how much money is available, that is why the role of MDBs (multilateral development banks) can become very important,” he said.

“Because MDBs can actually help address the gap through their own balance sheet, or they can mobilize enough private capital through financial instruments to bridge that gap – MDBs can also actually help in identifying projects, structuring the projects, and making them bankable so that they are able to get financed from various sources.”

“The MDBs, or private capital, can flow in, or instruments like guarantees and credit enhancements,” he added.

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Demand conditions in key export markets for Turkish manufacturers have improved at their fastest pace since May 2024, supported by robust activity in the U.S. and ongoing recovery in the Middle East, a survey showed Tuesday.

The Türkiye Manufacturing Export Climate Index, compiled by the Istanbul Chamber of Industry (ISO) and S&P Global, rose to 52.7 in August from 52.2 in July, marking the fourth consecutive month of increase.

Readings above 50 indicate improving business conditions in the main export destinations, while those below point to deterioration.

The index is calculated by weighting manufacturing Purchasing Managers’ Index indices from national PMI surveys according to each market’s share of Türkiye’s manufacturing exports.

Andrew Harker, economics director at S&P Global Market Intelligence, said global economic growth appeared to be strengthening as the third quarter progressed, potentially supporting Turkish manufacturers’ overseas business volumes.

The strong improvement in demand conditions is driven by two key regions, including the U.S., where output growth reached its highest level in around 4.5 years, and the Middle East, where the recovery trend has continued following the outbreak of the Iran war.

Growth across European markets remained more moderate, said Harker, but an acceleration in the region in the coming months could create further opportunities for Turkish manufacturers.

U.S. output hits 52-month high

Manufacturing output in the United States, which accounts for about 6% of Türkiye’s manufacturing export market, rose strongly in August, with the pace of growth reaching its highest level in 52 months.

Economic activity across Europe generally expanded at a more moderate pace. Germany and Britain recorded a second consecutive monthly increase in activity, with growth accelerating from July although remaining modest.

The Netherlands and Spain recorded marked increases in economic activity in August, while Italy saw strong expansion, with its growth rate reaching its highest level since November 2025.

Romania recorded its fastest increase in output in 27 months.

Among major export markets covered by the survey, France and Poland were the only countries where economic activity weakened. Output declines in both countries accelerated from July.

Middle East recovery

Economic activity generally improved across the Middle East in August.

Output growth in the United Arab Emirates (UAE) reached its highest level in six months, while Saudi Arabia recorded its strongest growth in seven months. Both countries posted output increases among the strongest globally.

Kuwait also recorded its strongest growth since before the war in the region began.

Output continued to decline in Qatar and Egypt, while economic activity in Lebanon was broadly unchanged.

Among all countries covered by the survey, Zambia recorded the steepest contraction in output in August, as economic activity slowed sharply during the election period.

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Türkiye plans to encourage the transfer of technologies and capabilities developed by its defense industry to civilian sectors as part of efforts to reduce dependence on foreign suppliers in critical technologies, according to its updated economic road map.

Under the 2027-2029 Medium-Term Program (MTP), the government will also encourage the use of domestic defense-industry capabilities in technology-intensive civilian procurement, with the aim of raising domestic production and supporting higher-value exports.

The plan, unveiled Sunday, seeks to strengthen economic security against global shocks, geopolitical tensions and competitive pressures by improving supply security in strategic sectors including energy, agriculture, food, health care, technology and defense.

Since the early 2000s, Türkiye has injected billions of dollars to transform from a nation heavily reliant on equipment from abroad to one that is a major exporter and where homegrown systems now meet almost all of its defense industry needs.

For much of the past two decades, Ankara has expressed frustration over its Western allies’ failure to provide adequate defense systems against missile threats despite Türkiye being a major NATO member.

Türkiye is currently the world’s 11th-largest defense exporter. Its shipments rose nearly 50% in 2025 to a record of more than $10 billion. Annualized sales reached $11.2 billion as of this July.

The new program envisages the development of domestic production and innovation capacity for critical products, technologies and services, while supply chains are planned to be diversified and strategic partnerships with reliable partners strengthened.

The government also aims to improve Türkiye’s resilience to multiple shocks stemming from demographic change, natural disasters, geopolitical developments and global supply disruptions.

Semiconductor, AI capacity

Domestic research and development, production and innovation capabilities will be expanded in strategic sectors including defense, health care, semiconductors and artificial intelligence.

Technologies developed in these fields will be supported in their transfer to the broader economy and civilian applications.

The interaction between defense technologies and civilian applications will be increased, while public procurement of technology-intensive civilian products will be encouraged to draw on the capabilities of Türkiye’s domestic defense industry.

The government expects this approach to increase domestic content in these sectors and support higher-value-added exports.

The wider adoption of agile manufacturing methods will also expand the potential applications of defense-industry products and increase the domestic contribution rate.

Action plans will be prepared to support technology development and domestic production in critical areas needed to strengthen supply security in manufacturing, energy, agriculture, health care and transport.

Health care seen as key area

Health care is expected to be one of the main civilian sectors to benefit from technologies developed by Türkiye’s defense industry.

The government will support R&D and product-development activities for vaccines, medicines, medical devices, diagnostic kits, biotechnology products and AI-based health care technologies needed by the national health care system.

The initiatives are intended to strengthen domestic production capacity in the health care sector.

Türkiye also plans to establish modern facilities capable of producing semiconductor chips used in identity documents, passports and industrial applications.

Capabilities in semiconductor R&D, design, production and commercialization will be developed, while processes will be established to prepare data held by public institutions in standardized formats suitable for use in AI applications.

Partnerships with friendly countries

Vice President Cevdet Yılmaz said the government also planned to establish product-based platforms with friendly countries for joint development and marketing.

“We want to transfer the technologies and capabilities we have acquired in the defense industry to civilian industries,” Yılmaz said.

He said public procurement would play an important role in this process and stressed the need to develop other critical technologies domestically to strengthen Türkiye’s economic and technological security.

“We are not looking at this only from Türkiye’s perspective. We need to move forward by producing through joint platforms with friendly and brotherly countries,” Yılmaz said.

Yılmaz cited the multinational industrial structure behind the U.S.-led F-35 fighter jet program as an example, saying Türkiye would seek to establish similar platforms with friendly countries on a product-by-product basis, both for development and marketing.

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Chinese exports surged 25% in August from a year earlier, driven by the strong demand for autos and high-tech products as Beijing’s record trade surplus expanded further, customs data showed on Tuesday.

The data was broadly in line with what economists had expected and comes just ahead of a planned meeting between Chinese leader Xi Jinping and U.S. President Donald Trump.

That’s set for late September, though Beijing has not yet confirmed the exact date for the visit.

Trade is expected to be among the key topics of discussion between Trump and Xi when the two leaders meet.

China’s global imports, meanwhile, climbed 28.2% in August from a year earlier, up from July’s 27.5% rise. Exports grew 23.9% year-over-year in July. The trade surplus expanded in August to $119.1 billion from $112.5 billion in July.

Policymakers in the U.S. and elsewhere have raised concerns over China’s ballooning trade surplus, which surged to a record $1.2 trillion for the whole of last year. Beijing has said that it is not seeking to maximize its trade surplus.

In August, China’s exports to the U.S. totaled $42.5 billion, up 34.4% year-over-year, in part due to a base effect after higher U.S. tariffs caused exports to fall last year.

U.S. exports to China last month were $13.3 billion, leaving a trade surplus in China’s favor of about $29.2 billion, according to Chinese data.

Exports to the EU rose 6.6%, while those to Southeast Asia and Latin America rose 30.2% and 17.5%, respectively.

Exports have consistently outpaced imports and are “set to lead to a new record-high trade surplus this year,” said Lynn Song, chief economist for Greater China at the Dutch bank ING.

China has weathered disruptions from the Iran war better than many other countries. It also has been exporting more to Southeast Asia, Latin America and Africa, shielding it from the impact of higher U.S. tariffs.

Exports of autos in August grew 43% year-over-year while semiconductor exports surged 129.8%, the customs data show.

“China is very competitive in its tech goods exports,” said Chi Lo, a senior market strategist for Asia Pacific at BNP Paribas Asset Management. In recent months, rising exports of electric vehicles, industrial machinery and semiconductors have helped fuel China’s robust shipments globally.

“China has moved aggressively up the value chain and has become a major player in AI infrastructure and industrial automation,” he said.

At home, China is still struggling to boost its economy as consumption and investment remained sluggish following a yearslong real estate sector downturn.

On Sunday, China said it was injecting around $54 billion into state banks and insurers to help lift its economy.

China’s continued reliance on exports to fuel growth prompted 19 members of the G20 large economies to agree to address such economic imbalances at a recent meeting of top financial officials in Asheville, North Carolina. China was the lone dissenting G20 member after U.S. Treasury Secretary Scott Bessent described China’s trade surplus as a barrier to global economic growth.

The strategic stalemate between China and the U.S. will likely remain, said Lo of BNP Paribas. “Both sides hold each other hostage in some strategic products, with the U.S. withholding high-end tech goods from being sold to China and China withholding rare-earth exports to the U.S.,” he said.

China and the EU are also set to meet for ministerial-level trade talks in the fall, as the EU struggles to reduce its roughly 1 billion euros-a-day trade deficit with China.

The EU implemented measures in July to protect its steel industry and has limited tax-exempt imports of Chinese e-commerce small parcels.

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French President Emmanuel Macron urged the European Commission to back ​a European Union-wide ban on social media for children under 15 after Paris failed to enact its ⁠own legislation, his office ⁠said Tuesday.

In a letter to European Commission President Ursula von der Leyen dated Aug. 29, Macron said it had become ​urgent ⁠to introduce a bloc-wide ban through new EU legislation after France’s Constitutional Council struck down a national bill this summer before it was due to take effect in September.

“I believe it has now become essential to go further and, through a new European legislative text, harmonize a ban on access to social media platforms for children under the age of 15, in order to protect all children across the Union,” Macron wrote.

Following Australia’s landmark social media ban ⁠for ⁠children adopted last year, several European countries are considering their own curbs amid growing concern over the impact of social media on young people’s mental health and safety. But some countries, especially in Scandinavia, believe it is best left for parents to decide.

Macron, now in his final year as president, has taken up the cause as a priority before the next French presidential election ⁠in 2027, and has been lobbying other EU governments to back restrictions.

He said France would separately rework the legislation struck down by the Constitutional Council, ​though political fragmentation in parliament and difficult budget negotiations could complicate efforts to ​pass a new law.

Von der Leyen said in July that the European Union would move to limit young children’s ⁠access ‌to ‌social media across the 27-member bloc, citing proposals from ⁠two experts recommending a tiered system.

Under ‌that approach, children under 13 would only be allowed limited, supervised access, with ​restrictions eased gradually as they ⁠get older.

Macron is seeking a tougher approach, ⁠pushing for a blanket ban on social media access until the ⁠age of 15, ​ahead of von der Leyen’s flagship State of the Union speech to the EU Parliament later this month.

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