Third Point LLC, the New York-based hedge fund headed by billionaire activist investor Daniel Loeb, bought $150 million of shares in the secondary public offering of Turkey’s biggest real estate company, Emlak Konut GYO, according to two people with knowledge of the transaction.
Turkish lender Yapi & Kredi Bankasi AS says companies would struggle to repay foreign-currency debt were the lira to depreciate at least 20 percent, a level Goldman Sachs Group Inc. predicts it will approach next year.
Ibrahim Turhan, the chief executive officer of Borsa Istanbul, said the Nasdaq OMX Group Inc. is considering buying a stake in the bourse as part of a partnership that will be announced as early as next month.
Somaliland’s government hired private security experts to help improve safety after Genel Energy Plc suspended operations in the semi-autonomous region citing growing instability, Foreign Minister Mohamed Bihi Yonis said.
Riot police drove protesters from a central Istanbul square and nearby Gezi Park after Turkish Prime Minister Recep Tayyip Erdogan said he wanted to clear the area before his party meeting in the city today.