Turkey

Turkey’s Sabanci to sell its 57.9% stake in Yunsa textiles producer

Akin Nazli in Belgrade August 26, 2019

Move follows conglomerate’s recent disposal of 41% in construction equipment leasing services company Temsa Is Makinalari and May sale of buses and light trucks maker Temsa.

Number of companies calling it quits in Turkey up nearly a quarter in July

bne IntelliNews August 25, 2019

More than 700 enterprises were shuttered amid country’s dire economic straits. Meanwhile, NPLs made to tourism industry climbing. Hoteliers complain of low per capita spending by foreign tourists.

Who’s behind the proposed Turkish buyer of British Steel?

GPW Political Risk August 23, 2019

GPW Political Risk on how the move by a military pension fund unit to acquire the unloved, neglected UK company may have been motivated by Turkish President Recep Tayyip Erdogan’s personal agenda—and he may require a political quid pro quo.

TURKEY INSIGHT: ‘EM hunt switches from yield to safety' as Ankara readies for new political, economic phase

Akin Nazli in Belgrade August 22, 2019

Lira hit as critics sense weakened strongman Erdogan is intent on pumping up short-term growth.

Turkish real estate tycoon Agaoglu puts his luxury cars up for sale amid market misery

bne IntelliNews August 21, 2019

Meanwhile, Kamhi family put Istanbul’s Profilo shopping mall on market with an asking price of $74mn—half of what they tried to sell if for five years ago.

Turkey completes August domestic debt auctions, raises TRY8.4bn at lower costs

Akin Nazli in Belgrade August 21, 2019

Rollover ratio registers at 95% compared to 73% target.

Turkey’s private banks under growing government pressure to boost lending

Akin Nazli in Belgrade August 20, 2019

Central bank introduces reserves changes which observers note tally with possible plan to drive up short-term economic growth and call early elections. Lira comes under pressure.

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