The credit volume of the banking sector increased

The credit volume of the banking sector increased

The credit volume of the banking sector increased 12 billion 188 million pounds last week and increased to 2 trillion 405 billion 71 million pounds.

According to the weekly bulletin published by the Banking Regulation and Supervision Agency (BRSA), the sector's credit volume increased by 12 billion 188 million pounds in the week ending February 22. In the said period, the total loan volume reached 2 trillion 405 billion 71 million liras from 2 trillion 392 billion 883 million liras.

Total deposits in the banking sector (including interbank) declined by 5 billion 680 million liras last week. In the aforementioned week, the total deposits of the banking sector, which decreased by 0.3 percent, amounted to 2 trillion 85 billion 400 million TL.

- Consumer loans increased

According to the data, consumer loans amounted to 395 billion 204 million pounds, increasing by 620 million pounds per week ending February 22. Of these loans, 184 billion 59 million TL was composed of housing, 6 billion 284 million TL vehicle and 204 billion 860 million TL.

In the said period, the amount of commercial loans increased by 1 billion 919 million to 367 billion 779 million pounds.

On the other hand, the credit card receivables of the banks decreased by 0.9 percent to 101 billion 31 million pounds. 42 billion 777 million pounds of personal credit card receivables installment, 58 billion 254 million pounds was without tax.

- Legal resources increased

According to BRSA weekly data, non-performing loans in the banking sector increased by 0.46 percent compared to the previous week and reached 101 billion 552 million.

Specific provision for these loans amounted to TL 69 billion 187 million. In the same period, the legal resources of the banking system increased by 1 billion 570 million pounds to 516 billion 460 million pounds.

Capital Markets Board of Turkey, weekly newsletter was published

Capital Markets Board of Turkey, weekly newsletter was published

Capital Markets Board of Turkey (CMB) approved the application for issuance of 1 billion 900 million pounds of debt securities issued by IS Investment.

According to the weekly bulletin of the Capital Markets Board, the Board approved the application for the issuance of 1 billion 900 million TL of Is Investment Securities, Inallar Automotive Industry and Trade issuance of debt instrument amounting to 60 million TL.

CMB, Ozderici Real Estate Investment Trust Board Chairman Ali Ugur Ozderici and Deputy Chairman Ahmet Ozderici as a result of the investigation of Ali Ugur Ozderici and a total of 61 thousand 922 pounds Ahmet Ozderici decided to impose administrative fines.

Sönmez Filament For Esra Eyerci and Fırat Karataş, who are responsible for the transactions carried out in the market fraud processes in the market of Synthetic Yarn and Fiber Industry; The Board of Directors, Esra Eyerci and Fırat Karataş decided that a ban on temporary transactions for a period of 2 years would be imposed on Hüseyin Aktar, Erkan Atıcı and İsmail Maho and a 2 year transaction ban on the Exchange and other organized markets.

European stock markets closed with the rise except for the UK

European stock markets closed with the rise except for the UK

European Stock Exchanges closed with the rise except the UK.

The European stock markets completed the day, with the exception of the FTSE-100 index in the UK, with the impact of global and political developments.

At the closing, the indicator index Stoxx Europe 600 increased by 0.61 percent to close at 373.03 points.

In France, the CAC 40 index increased by 0.29 percent to 5.240.53 points, while the Italian FTSE MIB 30 index rose 0.78 percent to 20.659.46 points.

In Germany, the DAX 30 index closed the day with an increase of 0.25 percent to 11,515.64 points.

On the other hand, FTSE 100 index in the UK decreased by 0.46 percent to 7.074.73.

Moody's 2019-2020 Macro Economic Outlook Report has been published

Moody's 2019-2020 Macro Economic Outlook Report has been published

International credit rating agency Moody beks, the global economy is expected to continue to weaken until the beginning of 2020 announced.

The credit rating agency's leme 2019-2020 Macro Economic Outlook 9 update report was published. Aya The global economy will continue to weaken in 2019 and early 2020, Rapor the report said. The pace of monetary policy normalization will slow in 2019. We expect the central banks to have a more cautious approach as economic growth becomes increasingly moderate and balance sheet risks are directed downwards. Ekonomik

In the report, it was recorded that the Fed was expected to increase its policy rate only once or twice, not three or four times this year, while the European Central Bank (ECB) is expected to increase its deposit and refinancing rates in 2020 instead of the second half of this year.

The global economy is remarkably weakening in the last quarter of last year, the report said, and it is expected that this weakening will continue in 2019 and early 2020.

According to the report, the G-20 economies recorded an annual growth rate of 3.2 percent, which is expected to grow by 2.9 percent at the end of this year and 2.8 percent in the next year. Growth will slow to moderate to potential levels. " The statement was given.

China's economic growth in the coming period last "several decades" the slowest period of the levels indicated in the report can be decreased, while Argentina took place in Turkey and forecasting recession can be seen.

The report stated that the risks related to global growth are downward, while the possibility of the Chinese economy slower than expected and the possible global reflections, the trade tensions between the US and China, and the tightening of the financing conditions in the markets are among the main risks that are likely to occur.

According to the report, the US economy will grow by 2.5 percent in 2019 and 1.7 percent in 2020, while in the Eurozone economic growth is projected to be 1.6 percent next year and 1.5 percent next year. .

According to the report, economic growth is expected to be 1.5 percent in Germany at the end of 2019, 1.3 percent at the end of 2020 and 6.0 percent in China in 2019 and 2020.

Moodyis report also included a 1.5 percent contraction in the Argentine economy at the end of this year and a 1.5 percent growth expectation at the end of next year.

If the report is received in the part of the assessment of the economy's decline in imports Turkey's progress in the current account deficit mainly party and stated that reflection of low oil prices.

In Turkey, the report indicated that there is a positive development that the downward trend of inflation since October last year, as the expected decline in inflation was recorded decrease in aggregate demand.

In the report, Turkey will allow policy easing in the near term inflation very quickly given place to the unexpected estimate of the reduction of Turkey's economy shrinking level of 2.0 percent by the end of this year, at the end of 2020 if the projected 3 percent growth was recorded.

Foreign trade deficit declined by 72.5% in January to $ 2.5 billion

Foreign trade deficit declined by 72.5% in January to $ 2.5 billion

ISTANBUL, 28 February (Reuters) - The foreign trade deficit decreased by 72.5 percent in January compared to the same month of the previous year and declined to 2.5 billion dollars.

According to the data released by TURKSTAT, exports rose by 5.9 percent to $ 13.2 billion in January, while imports fell by 27.2 percent to $ 15.7 billion.

The foreign trade deficit was $ 2.7 billion in December.

January's leading data released by the Ministry of Commerce at the beginning of the month pointed to a deficit of 2.5 billion dollars. The General Trade System, the new calculation method of the Ministry of Commerce, pointed to a trade deficit of $ 2.3 billion.

Kashmir Problem

Kashmir Problem

From Turkey, India and Pakistan ''Common sense and composure" call.Foreign Minister Çavuşoğlu said," We are concerned about this tension and we want to call for common sense y the parties and the parties and the reasons for the tension should be avoided Çavuşuğlo "Kashmir Problem, International Law and the United Nations resoluations need to be solved by. "This is very important for the people of Kashmir" in the form of. "We are always ready to help with the Kashmir Problem. said Çavuşoğlu.

New Galaxy S10+

NEW GALAXY S10+

The first update for the S10 Plus, a member of the Galaxy S10 series introduced by Samsung last week, has been released. With the new update, various errors were corrected and performance improvements were made. At the same time, problems encountered in various applications have been fixed.

With this update for the Galaxy S10 Plus, features such as camera stabilization and fingerprint recognition have been improved. It should be noted that the update will be available only in European countries such as the Netherlands and France, and in the following days for all users.

The BIST 100 index closed the day at 104.141.04 points with a 0.90 loss of value

The BIST 100 index closed the day at 104.141.04 points with a 0.90 loss of value

BIST 100 index in Borsa Istanbul was completed at 104,141,04 points with a 0.90 percent decrease.

BIST 100 index decreased by 941.27 points compared to the previous close, while total transaction volume was 7.1 billion TL. The banking index fell by 0.94 percent and the holding index fell by 1.22 percent. Among the sector indices, the biggest gain was the financial leasing with 1.67 percent, the fact that most of the decline was food and beverage with 2.88 percent.

The BIST 100 index in Borsa Istanbul, which was mainly driven by sales in line with the depreciation of European stock markets, was completed by more than 104,000 points.

Analysts, tomorrow, the balance of foreign trade balance, abroad, especially in the United States to be announced data to be announced to be announced

Analysts stated that they continue to have an impact on investor decisions in Brexit's developments. According to the technical aspects, 105.000-105.500 band stands out as resistance zone in the BIST 100 index and 103.400 points in support position.

Nigel Rendell from Medley Global Advisors and Jeremy Stretch from the Canadian Imperial Bank of Commerce talked about the expectations of the Turkish Lira and developing country

Nigel Rendell from Medley Global Advisors and Jeremy Stretch from the Canadian Imperial Bank of Commerce talked about the expectations of the Turkish Lira and developing country

Jeremy Stretch, Director of Strategy at the Canadian Imperial Bank of Commerce, said the US - making progress in Chinese trade negotiations would have a positive impact on emerging markets. Stretch "the dollar is cheap and if the Fed persists in the" rate of interest "in the rate of increase in interest rates of high-yielding currencies would be interested, among them there is Turkish Lira," he said.

Stretch pointed out that the recent developments between India and Pakistan could lead to uncertainty.

Stretch stating that the CBRT will be cautious at the next meeting "The Central Bank will talk about the risk environment and the moderate appreciation in the Turkish Lira. This may cause the Central Bank to reverse its monetary policy. . " made his assessment. Stretch Dollar / TL said that 5 - 5.10s could be seen towards the end of the year.

Nigde Rendell, Senior Analyst for Medley Global Advisors Developing Countries, said yesterday that the statements of Fed President Jerome Powell are good for emerging markets.

"Powell's speech has been soft, and he benefited the emerging markets. Interest rates of emerging markets seem to be more advantageous, but there are uncertainties regarding global growth," he said.

Rendell, indicating a period of time greater may remain of interest in Turkey in the dollar / TL Regarding "Interest can be downloaded after the election. TL has gained a little more stability when last year compared. Inflation of 15 percent - can be dropped to 16 percent. This year, the Central Bank 600-700 we can see the base point interest rate cut then the dollar / TL may rise slightly but I do not expect 6 - 7 levels. The exchange rate can move between 5.30 - 5.70. made his assessment.

The US foreign trade deficit rose to $ 79.5 billion in December

The US foreign trade deficit rose to $ 79.5 billion in December

The US foreign trade deficit rose by 12.8% in December to $ 79.5 billion. The expectation was $ 73.6 billion. The trade balance in November was $ 70.5 billion.

According to another data released today, wholesale stocks in the US increased by 1.1% in December, and stocks were expected to increase by 0.4%. Retail inventories also increased by 0.9%, expecting 0.2%.

SunExpress General Manager Jens Bischof said, "We achieved a 10 percent growth in 2018, with a year-on-year increase of 1 billion 300 million euros."

SunExpress General Manager Jens Bischof said, "We achieved a 10 percent growth in 2018, with a year-on-year increase of 1 billion 300 million euros."

SunExpress General Manager Jens Bischof, Turkish Airlines and Lufthansa partner SunExpress 2018 performance and 2019 expectations at a press conference held in the speech, 2018 successful as the SunExpress, they have been successful in the Turkish tourism sector, 2019 optimistic for the year, they said.

Bischof stated that 2016 was a difficult year for Turkish tourism. "In 2017, while everyone was trying to reduce their capacity, we continued our presence in Izmir and Antalya as SunExpress, and even increased our capacity. Because we were very confident in Turkish tourism. companies have access to the largest revenue year in our history and we have become Turkey's 2nd largest exporter of services. " said.

Bischof, transferring ağırladıklarını close to 10 million passengers in 2018, said:

"We achieved a 10% growth in our history with a year-on-year increase of 1 billion 300 million euros in 2018. Our passenger occupancy rate was 84%. we anticipate that broken. this is good news for Turkish tourism ... Turkey is not only extremely attractive, is not it a beautiful holiday destination, offers wonderful recreational facilities as a holiday destination in terms of value for money. in 2019, the Turkish tourism will be a year of record-breaking. "

"6.6 million seats will be supplied."

Jens Bischof, SunExpress capacity of tourists coming to Turkey drawing attention to move either 4, in this case, the airline said it showed that they were the backbone of transportation in Turkey.

Of several airline companies in Central Europe that the bankruptcy petition transfer Bischof, SunExpress, 2019 in total from Central Europe to Turkey, 6.6 million seats will offer 9 new destinations will be activated and Turkey from 16 cities in Europe, 36 destinations in the reported that they will carry out a flight.

Bischof stated that they offer a capacity of 3.7 million seats to Antalya, and this year they will fly from Antalya to Oslo, Göteborg, Eindhoven and Prague. St. Petersburg, Marseilles, they will go to, 12 cities of Anatolia, 16 direct cities to offer direct scheduled flights, he said.

Direct flights to Anatolia have become the fastest growing market of SunExpress, pointing to Bischof, "This year, we fly to the existing Anatolian cities Kutahya / Victory and added Malatya." said.

"In 2019, SunExpress will have the largest fleet in history with 83 aircraft"

SunExpress General Manager Bischof emphasized that in 2019, SunExpress will have the largest fleet in its history with 83 airplanes. We will also rent 3 Boeing 737 MAX-9s for our company in Germany, SunExpress Germany. We are not even satisfied. We will rent 8 Airbus A320s to use in international flights from Antalya. in the form of.

Bischof stated that they offer personalized service in SunEco, SunClassic and SunPremium packages for flight tickets, sometimes points of confusion can cause confusion, so they give 1 flight to 10 flights and they can use bonus point for extra services.

A journalist, on the question of aircraft orders Bischof, 2014, ordered 50 planes, the list price of 5 billion dollars in this year, this year, 5 aircraft will be delivered, the conditions of financing is also very good, he said.

"Records of the part close to 1 billion euros in Turkey's tourism revenue accounted for"

SunExpress Deputy General Manager Ahmet Çalışkan stated that SunExpress was established 30 years ago with the partnership of Turkish Airlines and Lufthansa, and continued to support Turkish tourism with double digit growth for the last 3 years.

Dr. Çalışkan stated that in 2016, Turkish tourism was seriously tested and serious fluctuations were experienced. 201 Our 2016 year has passed successfully, 2017 and 2018. The year 2019 is the continuation of this trend and we are planning to increase our number of passengers to 10 million. Flight fleet is composed of 73 airplanes, and we will reach 83 aircraft in 2019. he said.

SunExpress in 2018 to 1 billion 300 million euro revenue reached a record reminiscent Hardworking, this record of close to 1 billion euros in the form of Turkey's tourism revenue, he said.

Source of news:
https://www.bloomberght.com/haberler/haber/2200393-sunexpress-ten-2018-de-1-3-milyar-euro-ciro

The Ordinary General Assembly Meeting held on Friday, March 15 will be held in Ankara

The Ordinary General Assembly Meeting held on Friday, March 15 will be held in Ankara

Central Bank of the Republic of Turkey (CBRT), the Ordinary General Meeting on Friday, March 15 announced that it would be held in Ankara.

According to the invitation made by the Central Bank to its shareholders and published on the website, the Ordinary General Assembly Meeting of the Central Bank of the Republic of Turkey will be held on Friday, 15 March at 15.00.

At the General Assembly to be convened with six agenda items; opening and meeting presidency will be formed. Reports and dividend distribution for the 2018 fiscal year

offer to be discussed. The proposal for 2018 balance sheet, profit and loss account and dividend distribution will be approved. Members of the Board and the Board of Auditors will be released.

At the General Assembly, there will be elections for the two members of the Board, which will be released on April 30, as well as three members of the Supervisory Board to be released on 30 April.

Fed President Powell said: "The economy has healthy but contradictory signals"

Fed President Powell said: "The economy has healthy but contradictory signals"

Fed President Jerome Powell's monetary policy presentation to the US Senate Banking Committee was published.

"The economy is sending out contradictory signals that will legitimize the patient approach in the rate hike. We see the current economic conditions as healthy, the economic outlook is good, but we have seen some mixed signals in the last few months," Powell said.

In 2019, Powell predicted that GDP growth will be stronger than 2018, though stronger. "We are ready to adjust the balance sheet if necessary."

Powell said the labor market is strong and inflation is close to 2 percent. The statement "financial markets have become more volatile at the end of the year, and financial runs are less supportive of growth than at the beginning of last year. In addition, growth in some major foreign economies has slowed down, especially in Europe and China. there is uncertainty. " The negative effects of the government's closure in the economy would be only 'moderate', Powell said.

Powell in the question and answer section said,. In the long term, the size of the balance sheet will be determined by the demand for the Fed's obligations, such as foreign exchange and bank reserves. the case said.

"We do not find the rising wages to be uncomfortable for inflation, we feel the pressure of weak inflation, this supports the patience, we think carefully about the framework of the inflation targets. Now it's a good time to be patient, watch and wait. Uncertainty is an extremely important enemy of business life, for certainty in trade and other policies," he said.

"The federal government is in an unsustainable financial path," commented Powell.

Fed President Powell refused to answer a question of former Fed chairman Yellen's criticism of US President Donald Trump.

At the latest interest meeting, the authorities announced that they would be hired on future interest rate increases.

Turkish Opposition Warns Borrowing Spree Abroad Could Backfire

Turkish Opposition Warns Borrowing Spree Abroad Could Backfire

The Turkish government’s strategy of heavy borrowing abroad this early in the year risks triggering a spike in lira bond yields after municipal elections in March, the nation’s main opposition party said.

“The government is pressuring exchange rates and yields as it borrows heavily in foreign currencies,” Faik Oztrak, spokesman for the Republican People’s Party, or CHP, said in an interview in Istanbul. “This will create serious troubles after the vote, when they will have to resort to heavy domestic borrowing. That would send yields higher.”

In a bid to keep a lid on rates before polls on March 31, the government has curbed domestic bond sales and turned instead to foreign investors for its financing needs. While that’s helped fuel a rally in local-currency debt, concern is growing that the policy could backfire if the government’s budget continues to widen as the economy slows.

The Treasury has already locked in $5.4 billion from international markets this year against a full-year target of $8 billion, capitalizing on buoyant risk appetite and hunt for yield spreading across emerging markets. In January, Treasury & Finance Minister Berat Albayrak said the government is in talks to sell samurai bonds to Japanese investors.

While the strategy may be “disturbing” for some market players, it has helped reduce borrowing costs, Albayrak said in December. The Treasury hasn’t sold a 10-year bond since July, helping spur a 750 basis-point plunge in yields from a peak in August, the biggest drop among emerging markets tracked by Bloomberg.

You can reach the news source from Bloomberg website.
https://www.bloomberg.com/news/articles/2019-02-25/turkish-opposition-warns-borrowing-spree-abroad-could-backfire

Mercedes-Benz Switches to Blockchain Technology in Supply Chain

Mercedes-Benz Switches to Blockchain Technology in Supply Chain

German automotive giant Mercedes-Benz has developed a platform based on blockchain technology to increase transparency and sustainability in complex supply chains.

German giant Mercedes-Benz entered into a partnership agreement with the United States-based software company Icertis for the development of the blockchain technology. Mercedes said they have developed a prototype based on blockchain technology to easily store the storage of documents and contracts in complex supply chains.

This project will allow for a transparent and sustainable presentation of the documents along the entire supply chain. Mercedes-Benz board member Wilko Stark stated that blockchain technology could affect the “almost all value chain Mercedes and added:

”With the Blockchain technology, our Blockchain prototype, which has the potential to revolutionize our procurement processes, we are testing one of several possible applications to increase transparency directly beyond our suppliers.“

German automobile company Porsche AG, "trends, new technologies and business models" to access the blockchain had announced that the initiatives. In recent weeks, Japan's major trading company, Itochu Corporation, has announced that it has developed a chain-supported traceability system that allows buyers and sellers to record transaction details on their supply chains.

Midnight phone call from Erdogan and Trump

Midnight phone call from Erdogan and Trump

According to information from the presidential sources, the telephone conversation between Erdogan and Trump highlighted bilateral issues and the recent developments in Syria, highlighting the importance of supporting the political process and highlighting the joint commitment to combat all forms of terrorism.
During the meeting Erdogan, Turkey's maintaining close relations with strategic partners reaffirmed his desire. The two leaders agreed that the US decision to withdraw from Syria would be implemented in a way that would not harm its common objectives.

At the same time, Erdogan and Trump have agreed to further develop bilateral economic relations and achieve a $ 75 billion trade target. 

Explanation from White Palace

White House, Erdogan-Trump made a written statement about the meeting. 

In the statement, the following statements appeared:

The two leaders underlined the importance of bilateral relations and the issue of Syria (between US-Turkey) discussed many issues, including trade. The two presidents agreed on the continuation of the co-ordination of the creation of a potential safe zone and noted that US Secretary of Defense Patrick Shanahan and Chief of Staff General Joseph Dunford will meet with their Turkish counterparts in Washington this week for further talks on these issues. AA 

Bloomberg: HSBC made a profit of $ 120 million a day on the depreciation of TL last year

Bloomberg: HSBC made a profit of $ 120 million a day on the depreciation of TL last year

London-based HSBC, one of the largest banking and financial services organizations in the world, reported that in the summer months of 2018, the US dollar had a $ 120 million profit in just one day. 

The experienced Pastor Andrew Brunson Turkey with concern that the US economy is overheated by the crisis in August 2018, TL depreciated hard and USD / TL rate was increased to 7.30, exceeding the historical peak levels. 

At the time, Bloomberg reported that HSBC made a profit of $ 120 million on transactions in the money markets on a single day. According to the information provided by the Bank in its annual report to the banking regulation board, HSBC says, HS The gain achieved is related to the fluctuation in the Turkish lira in the spot market piy and the one-day gain is reported to be more than double the earnings for HSBC's market risk modeling. 

Bloomberg points out that HSBC's profit from the depreciation of TL is more than double the profit of the competing banks, and that the German financial institution Deutsche Bank has made a profit of $ 35 million from TL transactions in the same period. 
Bloomberg, such as Barclays Turkish companies with investments in some of the international banks in 2018, the loss of live in the TL has been a loss of a hard wave.