What matters on Monday, March 27

The European Union (EU) members, which have approved Germany’s ‘e-fuel’ proposal, agreed on the ban of non-carbon vehicle sales by 2035. Vehicles with internal combustion engines can only be registered as new if they can be filled with carbon-neutral fuels, according to the decision. “If we don’t manufacture vehicles complying with this decision, we’ll lose our leading position among the countries where the EU imports vehicles. We must take urgent steps for this,” Automotive Suppliers Association of Turkey (TAYSAD) Chairman Albert Saydam told daily EKONOMI. Saydam also said Turkey, which was the 13th in production and 18th in sales in the world, is expected to regress by one place according to the 2023 forecasts.

The twin quakes on February 6, the election uncertainty, and increasing concerns at the global markets, have raised volatility in Borsa Istanbul. “Turkish assets have started to be on foreigners’ radar. The election uncertainty has weakened the recovery efforts of our markets,” specialists say referring to reports of international institutions, which have started to mention their scenarios for the results of the election.

Nation Alliance’s presidential candidate and People’s Republican Party (CHP) Chairman Kemal Kilicdaroglu stated in an event in Istanbul that they won’t discriminate against anyone, and they will embrace all when they govern Turkey. Kilicdaroglu also added that they will manage the country in the best way with Istanbul Mayor Ekrem Imamoglu and Ankara Mayor Mansur Yavas.

Ata Alliance’s presidential candidate Sinan Ogan collected 100,000 signatures necessary to be a presidential candidate in the presidential election to be held on May 14, according to the YSK (Supreme Election Board) data. Thus, Ogan became the fourth presidential candidate after President Recep Tayyip Erdogan, CHP Chairman Kemal Kilicdaroglu, and Memleket Party Chairman Muharrem Ince. The signature process ends today at 8.00 p.m.

1,183 companies received investment incentive certificates from the Industry and Technology Ministry in February. The investment value of these certificates totals TRY 44.41bn. These investments are estimated to employ 20,521 people.

Regarding the economic data, this week is expected to be more stable than the previous two weeks. There is no other important development in the economic calendar with confidence indices in Turkey. The most important foreign data will come on Friday. We will start the day with China’s PMI in the morning, and we will continue with the Eurozone’s core inflation at noon and the U.S. core PCE index in the afternoon.

In terms of internal affairs, the cabinet meeting, which was not held on March 20 due to President Recep Tayyip Erdogan’s busy schedule, is expected to be held today. Ministers assigned to the earthquake zone are expected to make a presentation at the Cabinet meeting.

On Tuesday, the presidential candidate list will be announced. The final presidential candidate list will be published, and the propaganda period will begin on March 31.


The Central Bank will release the Real Sector Confidence Index and the Capacity Utilization Rate of the Manufacturing Industry for March (10.00 a.m.).

The Turkish Statistical Institute (TurkStat) will announce the services, retail trade, and construction confidence indices for March (10.00 a.m.).


>> On the cover: Izmir Mayor Tunc Soyer is on the cover this week. “The message of the Economic Congress of the Second Century was clear: The more we embrace justice, the more prosperity we will achieve in the distribution of wealth and the construction of the economy,” said Soyer. You can read the details on pages 8-9.

>> “Xi Jingping’s visit does not mean that all is well,” Professor Ilter Turan says on page 10.

>> Report: Trendyol launches TRY 500m transfer center. P. 11.

>> Chief Economist Gunduz Findikcioglu: Bang-bang control and the exchange rate. You can on pages 12-13.

>> Zeynep Gurcanli: Will the ‘Dry Canal’ be an alternative to the Suez Canal? P. 14.

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