JP Morgan

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JPM

JP Morgan revises up Turkey's 2021 growth forecast to 8.4 pct

U.S.-based multinational banking and financial services company JP Morgan on Sept. 1 revised its estimate for Turkey's economic growth for 2021 from 6.8 percent to 8.4 percent.

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According to a report published by the firm, the Turkish economy continued to grow "at full speed thanks to robust domestic demand and surging export demand in the second quarter."

The Public Debt Management Agency is preparing a new exit to markets

JP Morgan expects a new Greek entry into the markets in the coming weeks, either through the issuance of a new reference bond (5-7 years) or through the opening of bid books for existing securities (10 years), proposing a partial profit in view of the new offer of securities.

Turkey fines 10 foreign firms for illegal short selling

Turkey's capital markets watchdog imposed fines totaling 26.4 million Turkish liras ($3.25 million) on 10 foreign financial firms for unlawful short-selling transactions.

According to a Capital Markets Board (SPK) statement, Credit Suisse Securities Europe Limited was fined $960,500, Barclays Capital Securities Limited $867,600 and Merrill Lynch BofA International was fine $778,300.


JP Morgan revises up Turkey's growth rates for 2020, 2021

U.S.-based multinational banking and financial services company JP Morgan on Feb. 12 revised its estimate for Turkey's economic growth for 2020 from 1.1% to 1.9%.

According to a report published by the firm, despite containment measures such as lockdowns, domestic demand was quite resilient in the fourth quarter of 2020.

ATHEX: Stock index rises above 700-pt mark

The small gains secured on Monday by the ATHEX benchmark sufficed for it to clear the 700-point bar for the second time within the space of just a few days, in a session dominated by announcements about the Aegean Air share capital increase and the JP Morgan report that contained previous estimates of a stock price rise.

Public Power Corp. to raise $235 million from sale of unpaid bills to JP Morgan

Greece's biggest electricity utility, Public Power Corp. (PPC), said on Wednesday it has finalised a deal to sell off unpaid bills to investment bank JP Morgan that will raise about 200 million euros ($235 million).

PPC is struggling under a pile of about 2.7 billion euros of electricity bills owed by Greeks hard up because of the country's decade-long debt crisis.

JPMorgan, European bank to support Turkish businesses

The European Bank for Reconstruction and Development (EBRD) on June 10 said it will support the growth of small businesses in Turkey, especially ones led by women.

The bank will be joined by the JPMorgan Chase Foundation, which became the first private-sector philanthropic organization to co-finance grants for EBRD.

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