Credit card and debit card payments in Turkey amounted to TRY20.1bn in the country’s fourth ‘post-lockdown’ week ending June 26.
Green financing reached close to 50% of the EBRD’s volume of investment in 2019, but as he leaves the bank Chakrabati warns of the need to put the green economy at the heart of the post-COVID recovery.
Foreigners bought €169.99mn of property in the tiny Adriatic country in 2019.
Paris claims French warship targeted with Turkish weapons systems after it moved to check on suspected breach of arms embargo by cargo ship.
German auto giant says it can no longer see demand for proposed factory’s output. Ankara tells EU travel and coronavirus officials to correct their “mistake” as soon as possible.
Private lender’s deal is expensive, but there are expectations that emerging market investors have finally opened up for corporate and financial institution issuance.
Severity of COVID-19 downturn was such, however, that much more will be needed in coming months to recover output lost during worst of pandemic, says IHS Markit.
Calls it a “criminal” intervention by “a country which claims to be a Nato member”.
Central bank’s open swap stock jumped to $52bn at end-May from $36bn a month ago.
Points out asset managers that track the index would have to liquidate if country was booted out.
Restructuring waves in Turkey initiated in 2016 have strengthened.
Analyst now expects benchmark to be left on hold over rest of this year and next with tightening not ruled out given Turkey’s large external debts and vulnerability to renewed financial market turbulence.
Prying officials also driving business clients away from banks.
At the same time, ING discordantly claims it senses possible turning point for foreigners’ interest in Turkish bonds.
High corporate sector indebtedness, accelerated lending via the state’s Credit Guarantee Fund (CGF) and steep proportion of FX lending by state banks concerning ratings agency.
Latest rule change from central bank in effort to ramp up credit in economy suspends reserve requirement for lenders. Very likely an amendment will emerge before you get to the end of this sentence.
The coronavirus (COVID-19) pandemic has been a boon for environmental, social and governance (ESG) funds, 85% of which are now outperforming their non-ESG peers, according to a paper released by the Institute of International Finance (IIF)
Stark deterioration in national lender’s FX reserves, partly caused by interventions to prop up lira, has intensified anxieties Turkey is in sore need of additional hard currency funding. Turk Telekom among firms to make initial use of mechanism.
Market also learns Global Yatirim Holding considering delisting Global Ports Holding from LSE. Stock market tyros, meanwhile, sniffing around small caps.
Telia seen as selling stake at less than 50% of market value. Analyst asks: “How did a partly Swedish-state-owned co get so deeply embroiled in Turkey’s authoritarian decline?”