Erdogan blasts Abu Dhabi’s ‘bankrolling of Russian mercenaries in Libya’ and latest Kremlin role in Syria

bne IntelliNews January 29, 2020

Turkish leader hits out at “desert lord” Haftar. Says he’s losing patience with military assault in Syrian region of Idlib.

Turkish lira deposit rates below official inflation

Akin Nazli in Belgrade January 28, 2020

Average at local banks fell to 9.60%, lowest recorded in three years.

IIF Green Weekly Insight: The Roaring Twenties

The Institute of International Finance (IIF) January 27, 2020

Global demand for electricity is projected to surge over 20% this decade. Power generation accounts for 40% of emissions and Emerging markets, notably China and India, will account for over 85% of rising demand in the next ten years.

Analysts think Turkish finance minister got “slap on wrist” after “competitive lira” remarks

bne IntelliNews January 24, 2020

“Broke the number one rule for members of the government—Don't talk about the exchange rate!” says strategist after Berat Albayrak appears to row back on comments.

TURKEY INSIGHT: The puzzle of Borsa Istanbul’s foreign-held shares boom

Akin Nazli in Belgrade January 23, 2020

Stock exchange may be rallying but the data on why is just not available to investors playing these murky markets.

Turkey’s top private lender Isbank sells $750mn of 10-year Basel III eurobonds, others awaited

Akin Nazli in Belgrade January 22, 2020

Turkey’s 5-year credit default swaps fell below 250bp on January 15 and have remained in the 240s since then. Record 566bp was seen in after the lira crisis.

Turkey investors wonder what to make of officials' surprise visits to banks and finance minister’s call for “more competitive” lira

bne IntelliNews January 22, 2020

Bankers puzzled by wide-ranging probe as competition authority searches their computers. Meanwhile, Erdogan administration plays it cool as real rates sink below zero. Financial security presented as issue of “national security”.

Turkey’s Halkbank exposed to US court fine of $1.8bn within two weeks if prosecutor’s request accepted

bne IntelliNews January 22, 2020

State lender faces contempt of court move after obstinately refusing to appear in New York courthouse to answer Iran sanctions-busting charges.

TURKEY INSIGHT: How long can the Turkey ETF rally last?

Akin Nazli in Belgrade January 21, 2020

No-one wants to rain on the parade, but it would be folly to ignore the “debt volcano” and a competition probe into Turkish banks launched by officials of an administration that “needs some cash”.

East Asian investors ramp up investments in Central and Eastern Europe

Clare Nuttall in Glasgow January 21, 2020

China became the top investor in CEE in 2019, leading fellow East Asian investors that accounted for a growing share of M&A in the region. More deals are expected to follow, says a new report from law firm CMS.

Istanbul-listed Aselsan, Kron and Logo take awards in Deloitte Technology Fast 50 ranking

Akin Nazli in Belgrade January 20, 2020

37 of 50 ranked companies were active in software sector.

Berlin summit agrees attempt to stabilise Libya truce but oil blockade overshadows progress

bne IntelliNews January 20, 2020

Foreign powers agreed at a summit in Berlin on January 19 to try to solidify the unstable truce in Libya between the internationally recognised government, which is backed by Turkey, and the self-styled Libyan National Army (LNA) forces of warlord Kh

Nobody surprised as Turkey’s central bank bows to Erdogan with another rate cut

bne IntelliNews January 16, 2020

Analysts warn of signs that the credit-fuelling of a strong economic rebound is already causing a fresh build-up of macroeconomic imbalances.

Erdogan warns he’ll “teach lesson” to Libya warlord Haftar if he resumes fighting Tripoli government

bne IntelliNews January 14, 2020

Turkish president angered that general departed Moscow without signing brokered ceasefire agreement.

Turkey’s top listed automaker Ford Otosan outperforms peer Tofas in 2019 exports

Akin Nazli in Belgrade January 14, 2020

Year saw Turkish vehicle makers export 86% of production. Exports were down 5% and output was reduced by 6%.

ING: Turkey’s unemployment trending down

bne IntelliNews January 14, 2020

October figures show economic recovery starting to cut the number of jobless.

VIENNEAST COMPASS: Risk outlook 2020 – balancing in limbo

Marcus How of Vienneast in Vienna January 14, 2020

CEESE had a good year in 2019, with the economies in the region buoyed by increasing domestic consumption and capital spending that allowed the region to decouple from western Europe.

TURKEY INSIGHT: “Liquidity trumps geopolitics” as Borsa Istanbul breaks consecutive records

Akin Nazli in Belgrade January 13, 2020

IIF sees capital markets awash in abundant central bank liquidity and disconnect from political risk. Catalyst for Turkish equity outperformance is banks’ upbeat forecasts. But lenders fear the regime, their views seem “Panglossian” says analyst.

Economic crash means three-quarters of Turks now ‘prefer supermarket private labels’

bne IntelliNews January 13, 2020

Survey also shows 87% of consumers make point of comparing prices at supermarkets before heading to shops. Figure is up from 72% a year ago.