Source: TurkStat
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Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

3- Decisions for prime contract modifications below, are made with the votes of shareholders of at least %75 of the capital or their representatives;
3.1- Company’s field of operation is completely changed.
3.2- Privileged share is created.
3.3- Limitation of the transfer of shares that are in the name of the holder.

4- In case the foreseen quorums in the second and third articles can not be achieved in the first meeting the same quorums are seeked in the following meetings.
5- In companies where the certificates of shares are being traded at the stock exchange, for a decision to be made about the subjects below, in the general meetings, unless there’s a provision against the prime contract, The quorum in the article 418 of Turkish Commercial Law applies;
5.1- Prime contact changes regarding the increase of the capital and registered capital’s upper limit.
5.2- Decisions about merging, dividing and type changes.

6- The shareolders who have shares to their names, and who voted no for the complete change of operation field or creating privileged share, are not bound to the limitations regarding the transformation of the shares for 6 months beginning from the publishing of the decision in the Trade Registry Gazette.

Source: Turkish Commercial Law

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

The authorities claimed that launching shares on Milan stock exchange was needed because of competing against those deep-pocketed rivals; since it was the only way to raise Money to advance its technology.

In addition to that, they also said that they would have better images from space, high definition, with a very fast refresh rate that would allow everyone to objectively see the real time evolution of our planet.

Source: Euronews

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According to D-PPI, the monthly real profit rate of deposit interest, Euro, government domestic debt instruments (GDDI), US dollar and gold (ingot) lost by 0.29%, 0.54%, 0.83%, 0.93% and 0.98% respectively. According to CPI, the monthly real profit rate of investors of deposit interest, Euro, GDDI, US dollar and gold (ingot) lost by 0.27%, 0.52%, 0.81%, 0.91% and 0.96% respectively.

Stock exchange, made the highest real profit with the rates of 10.45% according to D-PPI and 12.61% according to CPI, quarterly. In the same period, investors of GDDI made the highest loss with the rates of 3.76% and 1.88% according to D-PPI and CPI.

US Dollar made the highest real profit with the rates of 9.85% according to D-PPI and 14.46% according to CPI, bi-annually. In the same period, investors of GDDI made the highest loss with the rates of 11.40% and 7.68% according to D-PPI and CPI, respectively.

Maximum annual real profit was created by US dollar investors
The annual real profit rates of US dollar were 9.47% and 14.19% according to D-PPI and CPI respectively, however in the same period, investors of GDDI made the highest loss with the rates of 7.75% according to D-PPI and 3.77% according to CPI.

The monthly real profit rates created by means of financial investment, March 2017

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According to D-PPI, the monthly real profit rate of government domestic debt instruments (GDDI) yielded real profit with the rate 0.45%. However, gold (ingot), deposit interest, Euro and US Dollar lost by 0.17%, 0.51%, 3.28% and 3.45% respectively. According to CPI, the monthly real profit rate of investors of GDDI and gold (ingot) were 0.90%, 0.28%, while investors of deposit interest, Euro and US Dollar lost by 0.07%, 2.85% and 3.02% respectively.

Stock exchange, made the highest real profit with the rates of 7.79% according to D-PPI and 11.32% according to CPI, quarterly. In the same period, investors of GDDI made the highest loss with the rates of 6.38% and 3.31% according to D-PPI and CPI.

US Dollar made the highest real profit with the rates of 10.65% according to D-PPI and 15.40% according to CPI, bi-annually. In the same period, investors of GDDI made the highest loss with the rates of 9.83% and 5.96% according to D-PPI and CPI, respectively.

Maximum annual real profit was created by gold (ingot) investors
The annual real profit rates of gold (ingot) were 11.29% and 16.57% according to D-PPI and CPI respectively, however in the same period investors of GDDI made the highest loss with the rates of 4.73% according to D-PPI and 0.21% according to CPI.

The monthly real profit rates created by means of financial investment, February 2017

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Economic expansion, rising per capita income, positive demographic trends and the rapid pace of urbanization have been the main drivers of energy demand, which is estimated to increase by around 6 percent per annum until 2023. The current 74 GW installed electricity capacity is expected to reach 120 GW by 2023 to satisfy the increasing demand in the country, with further investments to be commissioned by the private sector. As part of its efforts to offer sustainable and reliable energy to consumers, Turkey offers investors favorable incentives, such as feed-in-tariffs, purchase guarantees, connection priorities, license exemptions, etc., depending on the type and capacity of the energy generation facility.

In the last decade, the Turkish government has made significant reforms in the provision of energy, moving forward the participation of private entities, and thus creating a more competitive energy market. The privatization of energy generation assets, coupled with a strategy to clear the way for more private investments, has resulted in an increased share of private entities in the electricity generation sector, from 32 percent in 2002 to 75 percent in 2015. Another step taken by the Turkish government towards a more competitive energy sector is the establishment of an energy stock exchange. Once operational, the exchange will not only enhance the liberalization of the market, but will also ensure transparency and help maintain a healthy balance between supply and demand.

In addition to having a huge domestic market, Turkey is in a strategic location between a number of major energy consumers and suppliers, and so serves as a regional energy hub. The existing and planned oil/gas pipelines, the critical Turkish straits and promising finds of hydrocarbon reserves within the country itself give Turkey increased leverage over energy prices and reinforce its gateway status.

Opportunities for renewable forms of energy production – hydro, wind, solar, geothermal and others – are abundant in Turkey, and encouraging policies backed by favorable feed-in tariffs are expected to increase their share in the national grid in the coming years. The Turkish government has made it a priority to increase the share of renewable sources in the country’s total installed power to a remarkable 30 percent by 2023, while taking on board the energy efficiency concept by enacting laws that set principles for saving energy, at both individual and corporate levels, as well as by providing incentives to energy efficiency investments.

As important as the renewables are for Turkey’s energy strategy in the coming years, technologies in such fields as waste processing and greenhouse gas reduction are also often cited together with this new form of power generation as critically important supplementary practices. Sustaining the environment by resorting to renewable resources is accompanied by a number of measures and regulations that are either currently in effect, or will soon be in effect, including lowering carbon emissions, increasing generation/transmission efficiency and promoting the use of waste management technologies.

The sum of these factors has had a profound effect on Turkey’s energy sector, and turned it into one of the most attractive investment destinations in the world. In line with the implementation of investor-friendly regulations and the high increase in demand, the Turkish energy sector is becoming more vibrant and competitive, attracting the attention of more investors for each component of the value chain in all energy sub-sectors.

The total investments required to meet Turkey’s expected energy demand in 2023 is estimated to be around USD 110 billion, more than double the total amount invested in the last decade.

Turkey’s ambitious vision for 2023, the centennial foundation of the Republic, envisages grandiose targets for the energy sector in Turkey. These targets include:

• Raising the total installed power capacity to 120 GW
• Increasing the share of renewables to 30 percent
• Maximizing the use of hydropower
• Increasing the installed capacity based on wind power to 20,000 MW
• Installing power plants that will provide 1,000 MW of geothermal and 5,000 MW of solar energy
• Extending the length of transmission lines to 60,717 km
• Reaching a power distribution unit capacity of 158,460 MVA
•   Extending the use of smart grids
• Raising the natural gas storage capacity to more than 5 billion m³
• Establishing an energy stock exchange
• Commissioning nuclear power plants (two operational nuclear power plants, with a third under construction)
• Increasing the coal-fired installed capacity from the current level of 15.9 GW to 30 GW

Date: 13 March 2017

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