Non-Financial Sector Debt: Impending Risks
Previously we noted that Turkey debt will draw attention as global monetary conditions were set to be less friendly to developing economies than it had been in the past. Following the Trump win, we have seen a bond rout in the United States, resulting in higher yields that simultaneously putting emerging market assets to the fire.
We think it is time to place some emphasis on Turkish corporates debt as pundits tend to conceive about increasing financing...
Sahibinden: On the Cusp of Becoming Turkey’s First Unicorn
Sahibinden.com is an online shopping in platform in which people and businesses buy and sell real estate, cars and broad variety of goods and services, headquartered in Istanbul and owned by Aksoy Group. Sahibinden’s e-commerce business relies solely on third-party sales in Turkey, in other words, a model similar to Alibaba is being followed. We’ll covering the details about the company for the remainder of this article, but let’s take a look what see in Turkey’s demographics and...
Q4 2015 GDP: Robust but Vulnerable
At 4 percent, Turkey GDP’s growth rate remained robust despite a challenging year, primarily driven by strong private and public consumption, and higher gross fixed capital formation in the public sector. In 4Q 2015, the economy expanded by 5.7% y/y comparing favorably with consensus of 5%. That said, adjusted for seasonality and working-day effects, economic activity grew by 0.7% y/y, and note that there were more working days in Q4 2015 compared with Q4 2014.
The expenditure...