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bne Invest
April 12, 2019 www.intellinews.com I Page 13
addressing Turkey’s parlous economic situation.
Albayrak, President Recep Tayyip Erdogan’s son- in-law, is expected to unveil a reform package to restore investors’ confidence in Turkey. The move comes in the midst of the ongoing uncertainty over the result of the highly contested mayoral election in Istanbul, the country’s richest and biggest city
and the business and financial capital. Observers worry that if the Erdogan administration swings be- hind efforts that result in the opposition’s Istanbul victory being overturned there will be a big ques- tion mark as to whether Turkey can truly claim to have much of a democracy left.
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Russia's pipeline monopoly Transneft intends to increase dividend payout
Russia's pipeline monopoly Transneft could pay 25-40% of IFRS net profit in dividends, the CEO of the company Nikolai Tokarev told the press on April 8. It was also added that the company will adjust the net income base for one-off factors, to make the dividend policy more predictable.
The dividend payment of up to 40% would make a compromise with the government request
for a 50% payout that was previously argued by the company to put pressure on the investment
programme. bne IntelliNews reported in detail on Transneft's upbeat outlook and guidance in January 2019.
At the same time, the company is looking for a way to both abide by its infrastructure obligations and improve investment attractiveness,
and suggests to include the dividend in the transportation tariff calculation.
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Azerbaijan-focused Anglo Asian shares up as miner reports 5% 1Q19 boost in gold
Azerbaijan-focused Anglo Asian Mining’s shares rose on April 10 as it reported positive figures for the first quarter of 2019.
Gold production at the AIM-listed miner’s Geda- bek gold, copper and silver mining and production contract area in western Azerbaijan was up
5% y/y in the first quarter to 17,245 ounces due
to increased gold production by flotation, the company said in an April 10 statement.
The company’s share price reached GBX81.50 (£0.815) during the day before ending April 10 at GBX79.
Production of gold equivalent ounces (GEO), which includes other metals, rose by 11% to 20,287 GEOs.
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