Istanbul Stock Exchange

Turkey's national credit agency, Japan Credit Agency (JCR) Eurasia, has determined its board members, according to a statement released by the agency on Jan. 17.

Turkey’s Borsa Istanbul stock exchange aims to hold an initial public offering (IPO) when it releases its second-quarter results, company chairman Himmet Karadağ said on Feb. 20.

Turkey has transferred stakes in İzmir Port, which has been in privatization portfolio since 2007, to the Turkish Wealth Fund, in a bid to help finance giant infrastructure projects. 

The stake transfer was informed to respective authorities, according to sources. 

The wealth fund will have the authority to rent, transfer or sell the port. 

The government's decision to transfer stakes in the country's top public companies to a newly launched sovereign wealth fund has stirred strong criticism from opposition deputies and economists as the fund will beyond the remit of monitoring. 

Turkey has transferred stakes worth billions of dollars in Ziraat Bank, the Borsa Istanbul stock exchange, Turkish Airlines and state-owned pipeline operator BOTAŞ, among others, to a new sovereign wealth fund, in a bid to help finance giant infrastructure projects. 

Foreign investors made $100 million worth of net purchase on Borsa Istanbul, Turkey's stock exchange, in January following a selling spree of $2.5 billion in November and December 2015, according to data gathered by Anadolu Agency.

The Istanbul Stock Exchange hit its highest point in one and a half years on Nov. 28, approaching 85,000 points in the wake of OPEC's decision to refrain from cutting output despite a huge oversupply.

Turkey's main stock exchange index increased to 84.885 in the opening session on Nov. 28, thus hitting the highest point since May 2013.

Turkey’s embattled Bank Asya has said in a written statement to the Istanbul Stock Exchange that it has closed 80 branches, merging them with existing branches, and cut 1,708 jobs since the end of 2013.

Çukurova Holding has said it paid Russia’s Alfa Group $1.6 billion to recover a disputed stake in Turkcell, taking a major step toward regaining control of Turkey’s biggest mobile phone operator after a seven-year battle.

The Turkish Lira has weakened against the U.S. dollar and stocks opened the day with losses due to heightened concerns over the turmoil in neighboring Iraq.

The lira/dollar ratio climbed over 2.12 in the morning as investors fear the geopolitical risks in Iraq may have knock-on effects in Turkey.