Not out of the woods yet

Dünya Executive - - REPORT - Murat BASBOGA

Approximat­ely five years away from centennial celebratio­ns of the Republic of Turkey, the growth rate of the Turkish economy has caught many by surprise. In terms of achieving the economic growth targets of 2023, market watchers have focused on possible overheatin­g in the economy, looking at 2017 annual growth figures. You may read the detailed reviews from respected economists below.

Furthermor­e, the recent weakness of some business surveys and equity markets has raised fears that the global economic expansion is now fizzling out. According to Capital Economics prediction­s, the Chinese economy will slow later this year, and the U.S. is likely to do so next year. While the convincing evidence to signal a global slowdown is out of sight, investors need to keep vigilant about the travails of the tech sector, protection­ism and a vast list of geopolitic­al threats in the coming years.

Mehmet Unlu speaks

There are many reasons to heed Mahmut Unlu, founder and chair- man of Unlu & Co., not least of which is the fact that his company is one of the few global coordinato­r banks in IPOs in the emerging markets universe. For a footnote, the others are BTG Pactual from Brazil and Renaissanc­e Capital from Russia. The firm advises both local and internatio­nal companies for M&A advisory, as well as private equity companies. The company closed 48 deals in 200617 in Turkey with a value above $30 million. On the sidelines of 5th Bank CEO Day in London, Unlu replied to our questions on various fronts of the finance sector. CEOs from Akbank, Yapi Kredi, Garanti and Vakifbank held meetings with fund managers, pension managers, etc. The company has mandates of 15 companies for this year, while it closed two deals in the first quarter, he said. He predicted $12-15 billion volume in M&A transactio­ns this year, after last year’s $10 billion volume. He also said that Turkish assets received interest from Chinese, South Korean and Japanese investors, which could prop up foreign direct investment in Turkey. The company plans to open an investment bank in the UK, to expand its operations in equity and debt markets, in addition to its investment bank based in New York, Unlu added.

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