text: The commercial quarter, which was originally the meeting place for banks and insurance companies in the 19th century, is today also home to mechanical, electrical, plumbing and electronic parts suppliers.
  Etymology
  The word Karaköy apparently combines the Turkish words "kara", usually meaning "black", and "köy" meaning "village". In this case, however, "kara" may have come from the Turkish word "Karay", referring to the Turkic-speaking Jewish community called the Crimean Karaites. Though, linguists such as Sevan Nişanyan contest this theory by claiming that it isn't supported by written sources.
  History
  Karaköy has been a port area since Byzantine times when the north shore of the Golden Horn was a separate settlement facing Stamboul/Constantinople over the water. After the re-conquest of the city from the Latin State in 1261, the Byzantine emperor granted Genoese merchants permission to settle and do business here as part of a defense pact.
  The district developed rapidly, and the Genoese built sturdy fortifications to protect themselves and their warehouses. Fragments of the Genoese walls are still visible, but the Galata Tower, at the highest point, is the most substantial relic of the old walled enclave. Fifteenth-century Galata probably looked much more like an Italian city than a Byzantine or Ottoman one.