Borsa Istanbul

Turkey's lira hit a two-month low on Monday and the country's credit default swaps jumped as a tightly-contested presidential election headed towards a runoff vote, while broader emerging market equities snapped a four-day losing streak.

Türkiye's crude steel production declined by 21.5 percent on an annual basis in the January-March period to 7.4 million tons, data from the World Steel Association have shown.

Turkish restaurant chain BigChefs is set to launch an initial public offering (IPO) this week with the book building for the shares to be offered at 22.5 Turkish Liras per share taking place between May 3 and May 5.

BigChefs operate a network of 100 outlets in Türkiye and abroad as of end 2022, serving more than 12 million people.

Steelmaker İsdemir (İskenderun Demir Çelik) has announced that it resumed production that was interrupted due to the February earthquakes which hit Türkiye's southern provinces.

Production at İsdemir was restarted in a gradual and controlled manner, and the pre-earthquake production levels were reached, the company said in a filing with Borsa Istanbul.

Turkish Airlines aims to boost its consolidated revenue over $50 billion by 2023, the flag carrier has announced in a filing with Borsa Istanbul, outlining its strategy and targets for 2023-2033.

The Istanbul Financial Center (IFC) will open on April 17, Environment, Urbanization, and Climate Change Minister Murat Kurum has said.

A ceremony will be held to deliver houses in the Fikirtepe neighborhood to be attended by President Recep Tayyip Erdoğan, Kurum said during a visit in Istanbul.

Turkish Airlines carried a total of 71.8 million passengers in 2022, with the international passenger tally rising nearly 6 percent.

Last year, the carrier served 46.3 million international passengers, and the load factor on the international routes was 80.2 percent, Turkish Airlines said in a filing with Borsa Istanbul.

Türkiye's leading defense company Aselsan has reported that its net income increased from 3.1 billion Turkish Liras in January-September 2021 to 5.7 billion liras in the same period of this year, marking an 83 percent rise.

Turkish Airlines carried 46.6 million passengers between January and August, while the passenger load factor was 78.9 percent, the company has said in a filing with Borsa Istanbul.

In the first eight months of the year, the flag carrier served 29.65 million international travelers, up 2.6 percent compared to the same period of 2019.

Türkiye's economic model helps limit the effects of the volatility in exchange rate, Treasury and Finance Minister Nureddin Nebati has said.

The Türkiye Economic Model supports exports by adopting the value-added production approach, he added.

"With this mode, the impacts of exchange rate volatility, which is occasionally experienced, is limited," Nebati wrote on Twitter.