The domestic market is rallying. Turkish companies are announcing their financial statements for the second quarter. Overall, projections and profits have been in line with or above expectations. These results and projections have encouraged a positive atmosphere on Borsa Istanbul. Borsa Istanbul’s BIST 100 index will exceed 2,800 points and the climb will continue towards...
Author: Beste Kara (Beste Kara)
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What matters on Wednesday, August 10
Union of Chambers and Commodity Exchanges of Turkey (TOBB) President Rifat Hisarciklioglu, who hosted Central Bank (CB) Governor Sahap Kavcioglu last week at the TOBB Sector Assemblies joint meeting, will bring together public bank executives with the real sector today. Alpaslan Cakar, Chairman of the Banks Association of Turkey (TBB) and CEO of Ziraat Bank,...
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Ronesans seeks up to USD 3bn in projects with Japanese peers: Nikkei Asia
Construction, real estate, and energy company Ronesans Holding is in talks with Japanese companies to carry out joint projects of up to USD 3bn in value to increase its growth in foreign markets, according to Erman Ilicak, Founder and President of Ronesans Holding. “Ronesans is also looking to buy a stake in a Japanese engineering...
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What matters on Tuesday, August 9
Although Turkey’s 5-year CDS fell from 900 to some 730, pricing with values above this level reduce the external debt rollover ratios. The roll-over rate in the banking system has hit 90%. The public and private sectors have a nearly USD 23bn external debt retirement and loan repayment for August-December, according to daily DUNYA. Experts...
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What matters on Monday, August 8
This week, the Turkish Statistical Institute (TurkStat) will announce the Construction Cost Index (CCI) for June on Wednesday, and the Industrial Production Index for June on Friday, while the Central Bank will release the balance of payments statistics for June on Thursday. In May, the CCI increased by 105.7% compared to the previous year. Construction...
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What matters on Friday, August 5
The total net profit of banks jumped 401% from TRY 33.8bn to TRY 169.1bn in January-June, compared to the same period of the previous year, according to the Banking Regulation and Supervision Agency (BDDK). Considering the BDDK’s most recent steps, interest rates charged for loans, the margin of the weighted funding interest rate and developments...
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UNLU & Co wins in three categories at European Banking Awards
The investment services and asset management company UNLU & Co has won three awards at the European Banking Awards 2021, organized by the U.K.-based capital markets and banking magazine EMEA Finance. “We have created a value of over USD 20bn for the Turkish economy over the past 26 years with our mergers and acquisitions (M&A),...
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What matters on Thursday, August 4
The Consumer Price Index (CPI) rose by 2.37% in July, according to the Turkish Statistical Institute (TurkStat). Although the annual inflation, which hit 79.60%, remained slightly below market expectations, it has reached its highest level since September 1998. TurkStat also said the domestic producer price index (D-PPI) soared 144.61% in July, year-over-year. The Istanbul Wage...
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What matters on Wednesday, August 3
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) Sector Assemblies joint meeting was held with the attendance of the Central Bank Governor Sahap Kavcioglu and TOBB President M. Rifat Hisarciklioglu. The TOBB President, who made the opening speech, emphasized the real sector’s financing problem. Hisarciklioglu said access to finance has become difficult and...
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What matters on Tuesday, August 2
Inflation continues to have a supply-based upward trend around the world and uncertainty over high inflation continues in Turkey following the Central Bank’s inflation presentation. The financial services company Info Yatirim estimates the consumer price index to increase monthly by 3.0% and the annual inflation to hit around 81.3% in July, according to Caglar Toros,...