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Botas Announces Gas Discounts for Industrial Companies

TURKEY
  • State gas company Botas has announced price cuts in wholesale gas for big industrial companies and gas used for power production, citing “economic conditions” in Turkey and market stability, Bloomberg report. There will be a 13.30%-17.22% cut for large industrial companies and a 16.67% cut for gas used for power production.
  • Steel imports - especially from Russia – have increased, Sozcu reports, putting pressure on domestic producers who are struggling to compete, Steel Exporters’ Association Chairman Adnan Aslan said. Sector representatives have warned that if imports continue to outstrip demand for domestic supply, then steel factories will close and unemployment will rise.
  • “It is not possible for Mr. Erdogan to be a candidate in the elections to be held on May 14,” the leaders of the “Table of Six” opposition parties said after a 9.5 hour meeting yesterday. They are expected to name a unified contender for the May Presidential and Parliamentary elections in early February.
  • President Erdogan will address supporters at an opening ceremony of state-run Gubretas’s gold mine at 1100 GMT/1400 local time. There are no major economic releases scheduled today.
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