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.
Yesterday, the British Home Secretary Sajid Javid declared that the UK was planning to ban the political branch of Hezbollah, Lebanon’s Shia socio-political movement. Claiming that UK authorities were no longer able to distinguish between Hezbollah’s political and military wings, the Home Secretary decided to outlaw membership or support to this group, which has for long been accused of terrorism across the world and backed by the Islamic Republic of Iran.