The country welcomes October with price hike in the energy industry. The state pipeline operator BOTAS have raised natural gas prices by 15% for industrial use and electricity production. The price of natural gas for manufacturers rose to TRY 2,358 per 1,000 cubic meters while for power plants it increased to TRY 2,724 per 1,000 cubic meters, with the new tariff. Gas prices for residential use remained steady at TRY 1,488 per 1,000 cubic meters.
The Turkey Wealth Fund (TVF) considers acquiring a majority stake in the telecommunication company Turk Telekom, according to Bloomberg. Creditors seized a 55% stake in the firm in 2018 after its previous owner defaulted on a multibillion-dollar loan. TVF has approached the lenders about acquiring these shares. The market value of shares amount to nearly USD 1.5bn. The shareholders haven’t made an official statement yet.
HABAS Group, which acquired the Gebze automotive factory of the Japan-based conglomerate Honda, prepares to manufacture local cars, Aysel Yucel of daily DUNYA reported. The group will produce local hybrid cars at the manufacturing plant, according to HABAS officials.
The period of the withholding support, which has been implemented since October 2020, has been extended until the end of the year.
DAILY AGENDA
Istanbul Chamber of Industry (ICI) Turkey Manufacturing Purchasing Managers Index (PMI) declined from 54.1 to 52.5 in September, compared to the previous month.
Istanbul Chamber of Commerce (ITO) will release retail prices in Istanbul (12.00 pm).
The Central Bank will announce Bank Loans Tendency Survey for July-September (2.30 pm).
The General Assembly of the Parliament will convene with the private agenda under the presidency of Parliament Speaker Mustafa Sentop as the Parliament has launched the fifth legislative session of its 27th term. President Recep Tayyip Erdogan will also attend the event.
Trade Minister Mehmet Mus will announce foreign trade figures for September.
