Austria Erste Group Bank and Borsa Istanbul Index

: That putting pressure on an industry whose employee count is at the highest since 2007, and where about a third of the country 85 brokerages posted losses in the first quarter, according to Business Week. As the Borsa Istanbul 100 Index heads for its worst year since 2011, financial institutions are starting to make cuts at their Turkish businesses. Now, foreign investors, the biggest holders of Turkish stocks, are fleeing the nation assets at the fastest pace on record. Austria Erste Group Bank is eliminating jobs at its unprofitable brokerage unit, people with knowledge of the matter said in June, while Moscow Renaissance Capital plans to shut its Istanbul office and move Turkish coverage to Dubai and London. While the head of Turkey Capital Markets Board insists this is just a temporary blip ahead of November elections, traders in Turkish stocks say there are just too many brokerages. The local brokerage of Kuwait Burgan Bank SAK has also cut employee numbers by 20. (news.financializer.com). As reported in the news.