Important News
The Task of Preparing the Budget Is Assigned to the Ministry of Treasury and Finance
Budget Development Plans & Goverment Programs
7/31/2018
According to the Presidential Decree published in the Official Gazette, the duties and authorities for preparation of the central budget has been assigned from the President's Office to the Ministry of Treasury and Finance until the completion of the organization of the Department of Strategy and Budget....
Treasury and Finance Minister Albayrak, “The Medium Term Program Will Be Prepared Focusing on Reducing the Inflation Rate”
Speeches
7/25/2018
“We carry on with the consultancy meetings with all stakeholders in the field of economy as the Ministry of Treasury and Finance to prepare the Medium Term Program. We have come together with business people and the representatives of non-governmental organizations in the business world today and listened to the opinions of participants. A framework focusing on reducing the inflation rate will be set forth by means of the new medium term plan which will be disclosed”…
The BRICS Summit Is Held on July 25 to 27
Conferances Research
7/25/2018
President Erdoğan will attend the Summit as the "Term President of the Summit of the Organization of Islamic Cooperation"...
China's Silk Road Fund to Make Investment on ACWA Power's Solar Power Plant
Abroad Company News Renewables (HEPP, Wind, Solar, Biofuel)
7/24/2018
It is announced that China's Silk Road Fund will acquire a 24.01% equity interest in the 700MW DEWA Concentrated Solar Power (“CSP”) project in the United Arab Emirates.
G20 Communique
Reports Research Other News
7/23/2018
G20 Communique: "Short and medium term risks increased. For reducing the risks, dialogue should be increased and confidence has to be built up" IMF President Lagarde: "In the short term, increasing risks are trade tensions, financial pressures in vulnerable economies and return of sovereign risks in some parts of Euro Zone. In countries with excess current account deficits, procyclical fiscal policies have to be avoided".
TurkStream Project
Natural Gas Intergovernmental
7/23/2018
TurkStream Offshore Natural Gas Pipeline costal crossing works at Kıyıköy shore started as of 22 July 2018.
ABB Purchased GE Industrial Solutions
Company News
7/23/2018
ABB CEO Spiesshofer, "This merger strengthened ABB’s world leader position in the field of electrification, enhanced our growth and competition capacity in key markets particularly like North America." Head of ABB Electrification Products Tarak Mehta, "Product portfolio of GE Industrial Solutions and ABB is comprehensive. Together we will create a more comprehensive and united portfolio. Altogether we will strengthen ABB’s position as the second in the world in the field of electrification".
"Economic Partnership Agreement and Strategic Partnership Agreement" Signed Between EU and Japan
Agreements Abroad
7/17/2018
Within the coverage of agreement of note recently as the most comprehensive bilateral commercial agreement, major part of custom taxes paid mutually by the companies will be abolished; parties involved will take products having “geographical sign” of each other under protection; Access will be expanded of companies to markets in the fields of agriculture, financial services, electronic trade, communication and transportation and their participation in public tenders will be secured.
The Shareholding Structure of Türk Telekomünikasyon A.Ş. Is Changed
Research
7/6/2018
Akbank, Garanti Bankası and Türkiye İş Bankası establish a joint venture to take over all shares of Ojer Telekomunikasyon A.Ş. in Türk Telekomunikasyon A.Ş...
Trans Adriatic Pipeline (TAP) Project
Loans Abroad Natural Gas
7/6/2018
EBRD Executive Board confirmed 500 milion euro financing.
BOTAŞ’s Tuz Gölü (Salt Lake) Underground Natural Gas Storage Capacity Increase Project
Natural Gas Turnkey
6/28/2018
Loan agreements worth $1.2 billion in total were signed with the World Bank and Asian Infrastructure and Investment Bank Minister of Energy Berat Albayrak: "It will be an important source of funding for Turkey thanks to its repayment conditions, reasonable cost and low interest. We commissioned the first phase of Tuz Gölü Natural Gas Storage Plant with 500 million cubic meters of capacity last year. I hope that we will make an intensive effort to increase the capacity gradually and achieve a capacity of 5.4 billion cubic meters by 2023."
EIF 11th International Energy Congress and Expo Will be Realized in Ankara
Speeches Conferances General
6/26/2018
The Congress will be held at Ankara ATO Congressium on the dates of November 8 & 9, 2018
Siemens Gamesa Signs an Agreement with EMS Electronics on Wind Turbine Generators
Company News Renewables (HEPP, Wind, Solar, Biofuel) Other Renewables
6/22/2018
Siemens Gamesa Renewable Energy Turkey’s CEO Yıldırım: “Generators at these dimensions which will be used in wind turbines for the first time in Turkey have been manufactured locally at a rate of over 55 percent. These generators will be used at a power plant of 10 turbines which we will install before the Renewable Energy Resource Fields (YEKA) project. But the same type, maybe a larger type will also be used for YEKA.”
Yapı Kredi Secured 25 Million Euro Source for Renewable Energy Projects
Company News
6/21/2018
Yapı Kredi CEO Erün, "Renewable Energy projects constitute major part of Bank project financing portfolio. We will transfer 10 year term 25 million Euro financing secured under the Proparco cooperation without guarantee, to projects focused on most efficiently using of renewable energy sources.”
Turkey's Net International Investment Position Deficit is USD 431.1 Billion
Macro Indicators
6/20/2018
As of end-April 2018, the foreign assets of Turkey increased 0.5% to reach USD 234 billion foreign obligations decreased 3.8% to be USD 665.2 billion. Thus, Turkey's net international investment position deficit has been USD 431.1 billion
Appointments to EMRA Board Member Positions
Other News General
6/20/2018
Ahmet Çağrı Çiçek, Erdoğan Tozan and Hayrettin Kurt have been appointed to 3 vacant Board Member positions at EMRA…
TL 2.7 Billion Budget Surplus Reported in May
Macro Indicators Budget
6/18/2018
Budget revenue in May was TL 70 billion with a 21.8 percent increase compared to the same month of the previous year. The non-interest budget expenditures reached TL 67.3 billion with 31.7 percent increase. The budget had reported a TL 20.5 billion deficit January to May
TÜİK Has Announced the Unemployment Rate for March 2018
Macro Indicators
6/18/2018
Unemployment rate has declined to 10.1 percent. The amount of the unemployed decreased by 432,000 in March, compared to the same period of the previous year, reaching 4.21 million people
Short-Term External Debt Stock of Turkey as of the End of April 2018 Is $125.5 Billion
Loans Macro Indicators
6/18/2018
The majority of public short-term debt is made up of the liabilities of the public banks, and reached $27.8 billion with 12.1 percent increase in 4 months compared to the year-end 2017, while the short-term external debt of the private sector reached $100.7 billion with a 5.2 percent increase
Tekfen Holding Buys Gama Endüstri Shares at Gate İnşaat
Abroad Company News
6/18/2018
Tekfen İnşaat has purchased for $21.5 million the Gama Endüstri Shares at Gate İnşaat which they established in Kazakhstan by 50-percent partnership in 2002
Annual Report
