Real estate investment companies (REICs) have been reading up on the strategies developed during the period of the deep recession in the early 2010s ahead of the difficult months ahead for the property market.
The three main policies REIC managers will be following this year are investment risk management, lower bids for property purchases, and the targeting of higher returns.
The extent of losses each enterprise has suffered in March will be one of the key criteria determining its eligibility for a state loan dubbed the "Deposit to Be Returned," as well as its size.
The Finance Ministry will compare the company's March turnover for each of the last three years and, using an algorithm, will calculate the lost profits.
The Dow Jones Industrial Average, a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States, suffered its worst session since 1987 on March 12, plunging 10 percent as emergency measures by central banks failed to douse mounting recession fears due to the coronavirus.
Greece's benchmark 10-year government bond yield fell below 1 percent for the first time on Wednesday, marking a milestone for a country bailed out three times in the last decade.
The Greek 10-year bond yield fell to as lows as 0.992 percent, Tradeweb pricing showed GR10YT=TWEB, dropping below 1 percent for the first time ever.
The International Monetary Fund (IMF) has downgraded its growth forecasts for 2019-2021, primarily reflecting negative surprises to economic activity in a few emerging markets.
In its latest World Economic Outlook, the fund expected global economy to grow 2.9 percent in 2019, 3.3 percent in 2020, and 3.4 percent in 2021
Turkish start-ups, which received $93 million investments last year, draw the attention of foreign investors.
Lastly, on-demand delivery application Getir, which means "Bring" in Turkish, received $38 million investment from a group of foreign investors under the leadership of Sir Michael Moritz, a renown investor in Silicon Valley.
CVC Capital Partners, known in Greece mainly due to its acquisition of the Hygeia and Metropolitan hospitals, has announced that its subsidiary CVC Capital VII has agreed to acquire the activities of D-Marin, a company serving yachts in the Mediterranean and the United Arab Emirates, from Turkish group Dogus. That means CVC is now a partner of Lamda Development.
A World Bank report released late on Jan. 8 projected the Turkish economy would grow 3 percent in 2020 and 4 percent in 2021, rebounding from earlier financial turmoil at a faster pace than expected as domestic demand improves.
The bank revised its previous forecast that Turkey would contract 1 percent in June 2019 to 0 percent in its latest Global Economic Prospects report.