Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.
Just before Israelis embark on almost a month of Jewish High Holidays, traditionally a time of repentance and asking for forgiveness – something not often associated with the country’s politicians – they will go to the polls to choose the 22nd Knesset. It is the second time this year that Israel has held elections, after voting last April failed to produce a government. Once again, all indications are that the results will not be decisive.