Quake death toll tops 40,000 as Banyana jet off to Turkey
Image: Bloomberg
Turkey’s stock market is scheduled to reopen on Wednesday after a halt to trading in the aftermath of last week’s twin earthquakes.
The death toll in Turkey and neighbouring Syria surpassed 40,000.
Turkish banks will allocate 50bn lira (R47.7bn) from their 2022 income for relief efforts, President Recep Tayyip Erdogan said.
Meanwhile, TimesLIVE reported that South Africa's women's football team Banyana Banyana is expected to play in the Turkish Women’s Cup scheduled to start on Wednesday (February 15-23) in Alanya.
Turkish companies rush to buy back shares
Before the reopening of the stock market on Wednesday, Turkish firms, led by state-run companies, announced share buyback plans. Turkish Airlines, Erdemir and Isbank initiated new buyback programmes, while state-owned lenders Vakifbank and Halkbank increased their existing programmes.
Quakes hit Turkey’s cotton yarn capacity
About 500 textile factories in Kahramanmaras, Turkey, have halted operations and it may take about six months to restart production, Ekonomi newspaper reports.
Turkish banks to allocate 50-billion lira for relief
Turkish lenders will allocate 50-billion lira (R47.7bn) from their 2022 income for relief efforts, President Recep Tayyip Erdogan said in a speech after a cabinet meeting late on Tuesday.
Death toll surpasses 40,000
The number of dead in Turkey and Syria rose to 40,835 according to Turkish officials and the Syrian Observatory for Human Rights, which uses a network of activists on the ground. Tens of thousands of people were still missing.
Armenia’s top diplomat visits Turkey
Armenia’s Ararat Mirzoyan will meet his Turkish counterpart in Ankara on Wednesday before visiting the quake-stricken southeastern province of Adiyaman, where an Armenian rescue team is working, according to Turkey’s foreign ministry.
Turkey tweaks stock market rules before reopening
Turkey’s Borsa Istanbul banned order cancellations and the lowering of order prices in the opening session. The stock exchange market also lifted all volatility measures on individual stocks.
Trading was suspended last week for the first time in 24 years after the quakes triggered a major sell-off and is scheduled to resume on February 15.
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