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Important News

Tekfen İnşaat Signs a Contract for Modernization of the Haydar Aliyev Refinery

Abroad   Company News   Petrochemical

7/8/2020

An affiliate of Tekfen İnşaat has signed a $237-million contract for construction and installation works under the modernization of the Haydar Ayliev Refinery...

Treasury Funding Program for June - September 2020

Macro Indicators

7/1/2020

The Treasury will repay 74.4 billion TL of internal debt and 11.1 billion TL of external debt in the three-month period from July to September. This means a total repayment of 85.5 billion TL. About 84 billion TL of internal borrowing will be made for funding this debt service...

Turk Eximbank Secured 380 Million Euro Credit

Loans

6/29/2020

Turk Eximbank has secured 380 million euro credit of 10 year term from banks consortium under World Bank guarantee. The cost of credit has been 6 months Euribor plus 2.83%. Standard Chartered Bank, ING Bank and Societe Generale took pat in the credit...

Infrastructure Investments General Directorate (AYGM), Canal Istanbul Project

Ports   Build-Operate-Transfer (BOT)   Transportation

6/29/2020

“The Draft Environmental Plan with a scale of 1/100,000 on the Reserved Development Area at the European Side of Istanbul Province” which was revised has been posted once more and will stay posted for a month… The Ministry of Environment and Urban Development has been authorized for all zoning implementations regarding Yenişehir on an area of 37,000 hectares to be formed in the vicinity of Canal Istanbul. An arrangement on “special project zone” has been made for projects to be developed in relation with Canal Istanbul…

Head of EU Delegation to Turkey, Berger's Noteworthy Statements

Speeches

6/25/2020

"We have faced and still are facing serious problems in terms of cash flow in access to supply and raw material. The mishaps in this field have an adverse impact on textile, machinery and equipments and motor vehicles industries. We have to protect our historical trade relations based on trust. Mishaps experienced in visa and logistics require cooperation of institutions of both sides"...

IMF Updates the World Economic Outlook Report

Reports   Research

6/24/2020

IMF has revised the narrowing estimate for global economy as 4.9% for 2020 from a previous forecast rate of 3%. Expectations for Turkey remain unchanged. The Turkish economy is expected to contract by 5% in 2020 to be followed by a growth rate of 5% in 2021…

The New Law on the Protection of Competition Took Effect

Parliament   Legislation

6/24/2020

The new Law brings the stipulation and reconciliation institutions from the EU legislation to the Turkish competition legislation.

Important Disclosures Made by Trade Minister Ruhsar Pekcan

Loans   Speeches   Legislation

6/22/2020

“We have registered the free zone at Atatürk Airport as the first special expertise free trade zone and the field of expertise of the zone in question has been named as the IT (information technologies) - We will provide an interest rate and dividend support for a maximum period of 10 years to main investor companies that will establish these special expertise free trade zones not to exceed 50 percent of the fixed investment cost”…

Annual Report