Erdogan Presses for Ceasefire, Leader Meetings In Ukraine Talks; Botas Raises Natgas Prices

LOCAL NEWS

• Ahead of Ukraine-Russia talks today, Erdogan reiterated calls for a temporary ceasefire – hailing notable progress made during the meeting in Istanbul. Says the primary goal is to host a set of talks between Zelensky & Putin as soon as possible. Erdogan also welcomed the role of security guarantor for Ukraine if the sides reach a peace deal, but noted the details need to be clarified. – Hurriyet Daily
• Turkey Extends tax incentives on lira investments to end-2Q. Withholding tax discounts on income from Turkish lira-denominated funds, bonds issued by banks and bank deposits extended by 3 months to end-June, state-run Anadolu Agency reports.
• Turkish national gas company Botas increased natural gas prices by 35% for households starting from April 1, according to statement on its website. Household prices are subsidized by 70% by the government, Botas says. Natural gas prices raised by 44.3% for electricity generation & raised by 50% for industries – bbg
• Turkey’s parliament on Thursday approved electoral law amendments, which critics say could pave the way to election fraud and aim to curtail an opposition alliance’s chances of wresting control of the house in the next elections.
  • The reforms lower the parliamentary entry threshold from 10% to 7%, amend the way legislative seats are distributed among members of an alliance, and entrust the overseeing of challenges to election results to judges selected by lot. The changes would come into effect next year. – AP

Data:

• 0800BST: March S&P Global/ICI Turkey Manufacturing PMI, 50.4