Many have large markets outside the Islamic world among them Koc Holding, a Turkish conglomerate whose subsidiaries include Arcelik, which sells household appliances across Europe.

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English-speakers may laugh at firms with names such as Koc and Arcelik, but Turkish multinationals like Enka construction, Turkcell, Calik Holding and, yes, Koc are growing fast.

ECONOMIST: The economy has had a big boost from much sounder management