Politics

Turkey – Factors to watch on Aug 28


Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira USDTRY was quoted at 41.0525 against the U.S. dollar at 0430 GMT, compared with a close of 41.0300 on Wednesday.

The main BIST 100 share index XU100 closed 1.48% lower at 11,529.81 points on Wednesday.

GLOBAL MARKETS

Asian stocks wobbled on Thursday as blowout earnings from artificial intelligence bellwether Nvidia NVDA were offset by worries over the outlook for its China business, while the dollar remained shaky as investors bet on a near-term rate cut.

ERDOGAN PROGRAMME

President Tayyip Erdogan to attend a program at National Defence Ministry’s Istanbul Naval Shipyard Command. (1400 GMT)

CENTRAL BANK RATE CUTS

Turkish Vice President Cevdet Yilmaz said late on Wednesday he expects further monetary easing given the country’s downward inflation trend, after the central bank had re-started a rate-cutting cycle last month.

TURK TELEKOM

Turk Telekom TTKOM said on Wednesday it reached a deal with Turkish authorities to extend its concession agreement until 2050, and it will pay $3 billion including tax over 10 years for the rights.

Transport Minister Abdulkadir Uraloglu said the extension would add $20 billion to the economy, noting that the model would ensure continuity of critical fixed-line investments and support Turkey’s digitalisation efforts.

PARLIAMENT COMMISSION

Parliament Speaker Numan Kurtulmus will chair a meeting of the National Solidarity, Fraternity and Democracy Commission in parliament which was established as part of a process of ending the decades-old Kurdistan Workers Party (PKK) insurgency (0800 GMT).

ASELSAN

Turkish defence electronics company Aselsan ASELS.IS will more than double production capacity with a $1.5 billion investment in a new technology base, President Tayyip Erdogan announced on Wednesday.

ASSAN

Turkish authorities have detained the owner and general manager of Assan Group, a defence and construction conglomerate, as part of a military espionage investigation, the Istanbul prosecutor’s office said late on Wednesday.

For other related news, double-click on:

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For real-time quotes, double click on:

Istanbul National-100 stock index XU100, interbank lira trading (IYIX=), lira bond trading (0#TRTSYSUM=IS)



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