The Central Bank’s policy rate cut hasn’t reflected on interest rates on TRY deposit accounts. Although the one-week repo rate has been lowered to 18%, banks implement interest rates on deposits above it. In fact, the interbank transition has accelerated in deposit accounts of large amount. The interest rate on them, which was provided up to 18.90% before the Monetary Policy Committee meeting, is intended to be kept at 17.90% by some public banks at most, according to the banking sources. The interest rate can be raised to 18.35% in private and foreign banks.
Soon or later, the COVID-19 may develop mutations, which can avoid from vaccines and a different inoculation may be required, according to Ugur Sahin, CEO of BioNTech. Speaking to Financial times, Sahin said the virus may not be affected from immunity protection of the body in time, while the booster shots are effective against the COVID-19, including the Delta variant.
The spyware developed by the Israel-based Candiru has been detected in Turkey, according to the allegations of the Slovakia-based internet security company ESET. The evil ware took aim at politicians, journalists, activists, and academics in countries including Turkey, Spain and Singapore.
The Turkish Grain Board (TMO) has set to sale 900,000 tons of cereals this month in order to regulate the cereals and provender market, according to Minister of Agriculture and Forestry Bekir Pakdemirli.
The annual inflation reached 19.58% in September, according to the Turkish Statistical Institute (TurkStat). The Consumer Price Index (CPI) rose by 1.25% on a monthly basis.
The Domestic Producer Price Index (D-PPI) rose by 43.96% in September, compared to the same month of the previous year, according to TurkStat. The D-PPI increased by 1.55% on a monthly basis.
The Central Bank will announce net foreign exchange position of non-financial companies (2.30 pm).
The Ministry of Treasury and Finance will reissue 2-year (791 days) maturity quarterly TLREF Indexed Government Bond.
The 5th Coordination Council for the Improvement of the Investment Environment (YOIKK) meeting will be held under the presidency of Vice President Fuat Oktay.
IN OUR MAGAZINE THIS WEEK:
>> On the cover: Cuneyt Erpolat, who founded Globizi to remove the hassle of processes related to e-commerce and e-exports from SMEs, is on our cover this week. After more than eight years as Alibaba’s country manager in Turkey, Erpolat has developed a solid reputation in the e-commerce sector and among small and medium enterprises (SMEs). In an exclusive interview with Didem Eryar Unlu of daily DUNYA, Erpolat outlined the benefits of the end-to-end e-export ecosystem for SMEs and what role his new company will play. You can read the details on pages 14-15.
>> Professor Ilter Turan: Goodbye Merkel! P. 10.
>> Q&A: Dr. Bahar Akinguc Gunver, President of the Board of Trustees of Istanbul Kultur University, Member of the Board of Directors of Istanbul Kultur Educational Institutions, Editorial Director of the Journal for Education in Life. P. 11.
>> Diplomacy: HABAS to produce local hybrid car at Honda’s defunct factory. P.12.
>> Startup: AloTech plans new investment tour for U.S. market. You can read the details on page 16.
>> Zeynep Gurcanli: Cost of U.S. visit. P. 24.
>> Do not miss Time Out alternatives for the week!