Categories Business Company & Industry Goldman Sachs: Europe is re-opening, but refining margins and equities are lagging Cem CetingucPosted on7 June, 2021 The re-opening of Europe is gathering pace with the average activity level now at c.50% … Continue ReadingGoldman Sachs: Europe is re-opening, but refining margins and equities are lagging
Categories Company & Industry Finance Markets Macro Snapshot: Net FX Position of Non-Financial Companies Cem CetingucPosted on7 June, 2021 In March, net FX position of the non-financials was USD-157.5bn (2020: USD -157.6bn). FX assets … Continue ReadingMacro Snapshot: Net FX Position of Non-Financial Companies
Categories Business Company & Industry Karadeniz says to Lebanon: Pay debts or power cuts are on the way Cem CetingucPosted on15 May, 2021 Turkey’s Karadeniz, which supplies electricity to Lebanon from power barges, said on Tuesday Beirut must … Continue ReadingKaradeniz says to Lebanon: Pay debts or power cuts are on the way
Categories Business Company & Industry Top Banking Pick of 2021: Garanti Bank Cem CetingucPosted on10 May, 2021 Short-term recovery from recent lows likely Garanti share price is down 30% since our downgrade … Continue ReadingTop Banking Pick of 2021: Garanti Bank
Categories Business Company & Industry Company Outlook: Adding GARAN & SISE, Removing MGROS Cem CetingucPosted on10 May, 2021 Adding GARAN. We expect Garanti to maintain its leading position in ROE progression this year with … Continue ReadingCompany Outlook: Adding GARAN & SISE, Removing MGROS
Categories Business Company & Industry Economy EBRD & Turkey agreed to boost innovation in competitive sectors Cem CetingucPosted on6 May, 2021 The European Bank for Reconstruction and Development (EBRD) and Turkey have agreed to boost innovation … Continue ReadingEBRD & Turkey agreed to boost innovation in competitive sectors
Categories Company & Industry Economy Banking Sector: 1Q21 Earnings Preview Cem CetingucPosted on23 April, 2021 Macro volatility to take a toll on earnings We expect ROE’s to range between 0-12% … Continue ReadingBanking Sector: 1Q21 Earnings Preview
Categories Business Company & Industry Trendyol received 330 million dollars capital injection from partner Alibaba Cem CetingucPosted on22 April, 202122 April, 2021 Turkish e-commerce platform Trendyol has received an additional $330 million investment from existing partner Alibaba in a … Continue ReadingTrendyol received 330 million dollars capital injection from partner Alibaba
Categories Company & Industry Economy HIGHLIGHTS Alamos Gold files $1 billion claim against Turkey after mine project halted Güldem AtabayPosted on20 April, 2021 Alamos Gold Inc. of Canada filed a legal claim against Turkey for unfair expropriation and … Continue ReadingAlamos Gold files $1 billion claim against Turkey after mine project halted
Categories Business Company & Industry Amazon seeking long term expansion in Turkish market Cem CetingucPosted on20 April, 2021 Amazon is eyeing a long-term growth strategy in the country by expanding its operations, an … Continue ReadingAmazon seeking long term expansion in Turkish market
Categories Company & Industry General Turkey’s immense offshore wind potential sits untouched Cem CetingucPosted on17 April, 2021 The Caspian Sea, the Black Sea, and the Eastern Mediterranean offer abundant areas with great … Continue ReadingTurkey’s immense offshore wind potential sits untouched
Categories Company & Industry Economy HIGHLIGHTS Turkey bans crypto payments citing risks, hits Bitcoin price Güldem AtabayPosted on16 April, 2021 Turkey’s central bank banned the use of cryptocurrencies and crypto assets to purchase goods and … Continue ReadingTurkey bans crypto payments citing risks, hits Bitcoin price
Categories Company & Industry Politics Google gets fined by Turkish government for breaking competition law Cem CetingucPosted on15 April, 202115 April, 2021 Turkish authorities on Wednesday fined Google 296 million Turkish liras ($36.6 million) for violating the … Continue ReadingGoogle gets fined by Turkish government for breaking competition law
Categories Company & Industry Politics Halkbank seeks the end of U.S. prosecution due to Iran sanctions violations Cem CetingucPosted on13 April, 2021 A lawyer for Halkbank told a U.S. appeals court on Monday that the state-owned Turkish … Continue ReadingHalkbank seeks the end of U.S. prosecution due to Iran sanctions violations
Categories Company & Industry General Company Update | PETKM TP revised up to TL7.50/share Cem CetingucPosted on13 April, 2021 Turning more positive on strong earnings momentum expected this year. We are updating our estimates for … Continue ReadingCompany Update | PETKM TP revised up to TL7.50/share
Categories Company & Industry Markets Turkish auto production exceeds 212,000 in Jan-Feb Cem CetingucPosted on12 April, 2021 Automotive production in Turkey, including light commercial vehicles, tractors, and automobiles, totaled 211,877 million units … Continue ReadingTurkish auto production exceeds 212,000 in Jan-Feb
Categories Company & Industry HIGHLIGHTS Turkcell Sounds Out Banks on IPO Plan for Its Internet Unit Güldem AtabayPosted on6 April, 2021 Turkey’s biggest mobile operator Turkcell Iletisim Hizmetleri AS has approached several investment banks for an advisory role … Continue ReadingTurkcell Sounds Out Banks on IPO Plan for Its Internet Unit
Categories Business Company & Industry Company Outlook | Aselsan: High growth and compelling valuation Cem CetingucPosted on6 April, 20216 April, 2021 Stock’s underperformance of a retreating Turkish market unjustified in our view. Aselsan’s share price fell … Continue ReadingCompany Outlook | Aselsan: High growth and compelling valuation
Categories Company & Industry THY: Strong positioning, geared to leisure travel recovery; reiterate Buy Cem CetingucPosted on30 March, 2021 We revise our estimates for Turkish Airlines (THY). Reflecting more upbeat expectations from management post … Continue ReadingTHY: Strong positioning, geared to leisure travel recovery; reiterate Buy
Categories Business Company & Industry Company Outlook | Mavi: Emerging stronger Cem CetingucPosted on30 March, 202130 March, 2021 Managing inventories, preserving margins: Despite a c26% drop in retail revenues in FY21 and an … Continue ReadingCompany Outlook | Mavi: Emerging stronger
