Fund Liquidation, Interest Rate Expectations and New Investments in Turkey on the Table
The Ekonomi Masası program discussed in detail the fund liquidation process, Central Bank interest rate expectations, and investments by Uber and Nordex in Turkey.
Assessments made on Ekonomi Masası addressed the fund liquidation process, the Central Bank's potential interest rate cut, investments in Turkey by Uber and Nordex, and current expectations in the markets.
Uber's Investments in Turkey
Vahap Munyar stated that Uber has increased its investment plan in Turkey to 500 million dollars by 2030 and that a new technology center will be established in Istanbul.
It was stated that the technology team, previously planned as 180 people, is targeted to be increased to 360 people and the software developed will be used in global operations.
Fund Liquidation Process and Payments
It was emphasized that payments to investors in certain funds started as of October 8 and that no public resources will be used in the process.
Vahap Munyar said that, especially for payments up to 1 million liras, it must be clearly explained how the principal and the return will be separated.
Slowdown in IPOs on the Stock Market
Evaluating the impact of the fund crisis on capital markets, Munyar conveyed that new initial public offerings have slowed down significantly and pressure has formed on confidence.
It was stated that investments in solid companies made with a three-to-five-year perspective instead of short-term movements could create opportunities in the current period.
Interest Rate Expectations of the Real Sector
Drawing attention to the pressure of high financing costs on the real sector, it was conveyed that companies are within an expectation of lower interest rates.
It was noted that there are expectations in the market for a 100 to 150 basis point cut prior to the Central Bank's interest rate decision.
Nordex's Capacity Utilization
It was announced that the capacity of Nordex's wind turbine blade production facility in Izmir is completely full for 2027 and orders have been received for the first half of 2028.
It was recorded that Turkey is the second largest market after Germany and gearbox production might also come onto the agenda in the upcoming period.
Economic Impacts of the Fund Crisis
Dr. Burcu Ünüvar said that the economic impacts of the fund crisis have not yet fully emerged and could create a downward effect on growth.
It was stated that the crisis could affect fund holders as well as investors carrying stocks and companies in the real economy.
Foreign Investors and the Bond Market
Stating that foreign investors are acting cautiously, Ünüvar conveyed that the main story in the short term might form in the bill and bond market rather than equities.
It was recorded that disinflation becoming visible and interest rate cuts could support this market.
Monetary Policy and Tight Stance
It was emphasized that a potential interest rate cut in October would not be a surprise for the market, but maintaining the tight monetary policy stance is important.
It was stated that a sharp drop in inflation is not foreseen and the tight stance must be maintained resolutely in the first half of 2027.