Turkey’s banking regulator has assured creditors of Oger Telecom, which is the main shareholder in Türk Telekom, that a $4.75 billion syndicated loan will not go to default and they don’t have to re-classify it as “non-performing,” its head told Reuters on Nov. 16. The move will likely help Oger Telecom avoid costly write-downs.
Sales and bookings in shops and hotels in one of Barcelona’s most popular neighbourhoods dipped by up to 30 percent last month amid the region’s independence crisis, an industry representative said on Nov. 16.
An official competition investigation committee has demanded that seven out of 13 global banks probed in Turkey for violating competition rules be fined up to 4 percent of their sales revenue, on the grounds that their actions “amounted to the acts as a cartel.”
Turkish Deputy Prime Minister Mehmet Şimşek has refuted previous claims about U.S. probes into a number of Turkey’s lenders over alleged violations of Iran sanctions, adding that some questions had been only regarding one bank.
Japan reports its economy expanded at a 1.4 percent annualized rate in July-September, slowing from the previous quarter.
Turkey ran a budget deficit of 35 billion Turkish Liras ($9 billion) in the first 10 months of this year and a budget deficit of 3.3 billion liras (around $848.8 million) in October, the Finance Ministry revealed on Nov. 15.
Defense giant Aselsan, 85 percent of which is owned by the Turkish Armed Forces Foundation, became the most valuable company listed on the Istanbul main stock exchange (BIST) on Nov. 14, surpassing Garanti Bank and Koç Holding early.
Turk Eximbank has gained resident member status in the Asian Exim Banks Forum (AEBF), a regional group of export-import institutions, the bank announced on Nov. 15.
Turkey and Japan will sign a cooperation agreement on 5G technology during a forum in South Korea next week, the head of Turkey’s Information and Communication Technologies Authority (BTK) said on Nov. 14.