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Turkey freezes officials' assets at investment firms
The article concerns an economic crisis in Turkey that has led to the freezing of assets belonging to several executive officials in investment companies, including Tera Yatirim, Bosula, Hedef, and Buls Portfolio. Judicial measures have resulted in the detention of 15 individuals and the search for 10 others. Turkish stock markets have also experienced a significant decline, with the Istanbul Stock Exchange index dropping by 1% and the All Shares Index by 2.2%, leading to a depletion of $51 billion in market capitalization. In an attempt to stabilize the market, the Sovereign Wealth Fund intervened by purchasing shares of the top 30 companies. The fund's asset disposal period has been extended to six months, following a roughly $11 billion reduction in its assets since late August due to stricter regulations on dealings with related parties and central investments.
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