Categories Business Company & Industry HIGHLIGHTS Turkish contractors banned from Euro-tender for Russia connections Atilla YeşiladaPosted on20 September, 2023 Rail Baltica Project, one of the most important railway projects in Europe, was put out … Continue ReadingTurkish contractors banned from Euro-tender for Russia connections
Categories Business Company & Industry HYPED Emirates NBD makes strategic investment in Turkish start-up Erguvan Atilla YeşiladaPosted on16 September, 2023 After Erdogan’s crusade to Gulf Arab Nations, hopes of huge loans and FDI flows inundated … Continue ReadingEmirates NBD makes strategic investment in Turkish start-up Erguvan
Categories Business Company & Industry HIGHLIGHTS Olcay Aydilek: SAUDIS TAKING CLOSE LOOK AT TURKİSH INVESTMENTS Atilla YeşiladaPosted on16 September, 2023 UAE businesses started negotiations regarding renewable energy investments in Turkey. Delegations from the UAE frequently … Continue ReadingOlcay Aydilek: SAUDIS TAKING CLOSE LOOK AT TURKİSH INVESTMENTS
Categories Business Company & Industry HYPED Bloomberg: Turkish contractor in talks with banks to restructure loans Atilla YeşiladaPosted on16 September, 2023 Turkey’s Yapi Merkezi is in talks with banks to restructure around $1 billion of loans, … Continue ReadingBloomberg: Turkish contractor in talks with banks to restructure loans
Categories Company & Industry HYPED Markets Equity Strategy: The state of Turkish markets amidst policy normalization Atilla YeşiladaPosted on9 September, 2023 An Overview – Macro Outlook Risk perception continues to improve as economic policies normalize … Continue ReadingEquity Strategy: The state of Turkish markets amidst policy normalization
Categories Business Company & Industry Aselsan: Back on a USD growth path Atilla YeşiladaPosted on8 September, 2023 Wood Company equity research Following Aselsan’s 1H23 results and analyst day in Istanbul in August, … Continue ReadingAselsan: Back on a USD growth path
Categories Business Company & Industry HIGHLIGHTS EM Europe food retailers: Fighting inflation weighs on profitability Atilla YeşiladaPosted on8 September, 2023 HSBC equity research Prudent spending by consumers should continue short term on the back of … Continue ReadingEM Europe food retailers: Fighting inflation weighs on profitability
Categories Business Company & Industry HIGHLIGHTS TEKFEN Holding – Hold: New business plan requires time and patience Atilla YeşiladaPosted on24 August, 2023 Restructuring and new investment plans create optimism, but the current performance says ‘wait-and-see’ Divestitures/new … Continue ReadingTEKFEN Holding – Hold: New business plan requires time and patience
Categories Business Company & Industry HIGHLIGHTS Markets HSBC International Turkish stock 2Q2023 earnings preview Atilla YeşiladaPosted on15 July, 2023 We present our Q2 2023 forecasts for Turkish companies under our coverage.. We expect … Continue ReadingHSBC International Turkish stock 2Q2023 earnings preview
Categories Company & Industry Finance HIGHLIGHTS Turkish Banks: Sensitivity of capital ratios to currency and asset quality Cem CetingucPosted on24 May, 2023 We update our interactive spreadsheet to stress test capital positions with Q1 results: HSBC’s year-end … Continue ReadingTurkish Banks: Sensitivity of capital ratios to currency and asset quality
Categories Business Company & Industry HIGHLIGHTS TPAO to open up 20 oil rigs in Şırnak province Cem CetingucPosted on10 May, 202310 May, 2023 Türkiye’s state oil company TPAO plans to open up to 20 oil rigs in the southeastern province of Şırnak … Continue ReadingTPAO to open up 20 oil rigs in Şırnak province
Categories Company & Industry Economy HIGHLIGHTS Erdoğan raises state worker wages by 45 percent Cem CetingucPosted on10 May, 2023 President Recep Tayyip Erdoğan on May 9 announced a 45 percent increase in wages of public workers, ahead … Continue ReadingErdoğan raises state worker wages by 45 percent
Categories Company & Industry Finance HIGHLIGHTS Turkish Equities: Potential winners post election Cem CetingucPosted on8 May, 2023 Identifying winners: As Turkish elections approach, we try to answer the question we are most … Continue ReadingTurkish Equities: Potential winners post election
Categories Company & Industry HIGHLIGHTS Markets TOGG set to deliver 1,000+ cars next month Cem CetingucPosted on28 April, 2023 Togg aims to deliver more than 1,000 vehicles in May, says Gürcan Karakaş, the CEO of Türkiye’s first … Continue ReadingTOGG set to deliver 1,000+ cars next month
Categories Company & Industry General HIGHLIGHTS Politics Erdoğan educates youth on 60-year history of nuclear plant Cem CetingucPosted on28 April, 2023 Türkiye has realized its 60-year-old dream by delivering nuclear fuel to the country’s first Akkuyu Nuclear … Continue ReadingErdoğan educates youth on 60-year history of nuclear plant
Categories Company & Industry General HIGHLIGHTS Turkey’s First Nuclear Plant Faces Earthquake and Environmental Concerns Ahead of Opening Cem CetingucPosted on17 April, 2023 Built by Russia’s state-owned nuclear energy corporation, Turkey’s first-ever nuclear power plant is set to … Continue ReadingTurkey’s First Nuclear Plant Faces Earthquake and Environmental Concerns Ahead of Opening
Categories Company & Industry Finance HIGHLIGHTS Turkey Food Retailers: Margin pressure but growth momentum maintained Cem CetingucPosted on14 April, 2023 Short-term pressure: We expect to see higher gross and EBITDA margin pressure for all food … Continue ReadingTurkey Food Retailers: Margin pressure but growth momentum maintained
Categories Company & Industry General HIGHLIGHTS Erdoğan reveals plans to become a major player in defense industry Cem CetingucPosted on11 April, 2023 The government takes firm steps towards making Türkiye fully independent in its defense industry targets, President Recep Tayyip Erdoğan said on … Continue ReadingErdoğan reveals plans to become a major player in defense industry
Categories Company & Industry HIGHLIGHTS Markets Turkey anticipates prosperous tourism despite quake Cem CetingucPosted on10 April, 2023 Turkey’s Mediterranean coast is expected to see a large number of tourists flowing in this … Continue ReadingTurkey anticipates prosperous tourism despite quake
Categories Business Company & Industry Finance HIGHLIGHTS EnerjiSA / Upgrade to Buy: Underperformance seems exaggerated Cem CetingucPosted on5 April, 2023 Earthquake damage contained to a likely temporary FCF impact. Citizens in the 10 earthquake hit … Continue ReadingEnerjiSA / Upgrade to Buy: Underperformance seems exaggerated
