bne_newspaper_March_29_2019

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March 29, 2019 www.intellinews.com
Erdogan vs global finance: move against shorting lira sparks biggest Turkish stock market fall in nearly three years
bne IntelliNews
Turkish President Recep Tayyip Erdogan’s officials may have successfully mounted an operation to reverse an election week rout in the Turkish lira (TRY) but they seem to have accidentally bought themselves a stock market collapse and a whole bundle of other trouble in the process.
Ford Sollers to shut down plants in Russia, stop imports
bne IntelliNews
Ford Sollers, a joint venture of Ford car major and car assembler Sollers, will stop the produc- tion of Ford-branded cars in Russia and downsize its staff, the company said on March 27. Ford will also stop importing its vehicles to Russia.
By the end of June 2019 the JV will shut down two plants in Vsevolozhsk and Naberezhnye Chelni, as
Erdogan was on March 27 addressing a local elections rally in Bolu, northwestern Turkey. His officials said he “underscored that [his administration] will definitely resolve every issue that concerns Turkey’s permanence, from economy and terror to trade and external security”.
By around 16:20 Istanbul time on March 27 the BIST-100, which tracks Turkey’s 100 largest companies, had shed 5,544 points, taking the index down 5.7% to 91,833 – that represented
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The Ford Sollers joint venture will stop the production of Ford-branded cars in Russia and downsize its staff in June.
well as an engine plant in Elaburg and Tatarstan. The workers will be downsized on a "voluntary resignation programme with payment of additional compensations," the company employing 3,700 people said as cited by Reuters.
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