Turkey’s main opposition leader has been barred from joining the country’s National Statistics Office (TürkStat) just hours after posting data on inflation that he described as unreliable. Kemal Kilicdaroglu, leader of the Republican People’s Party (CHP), and party officials could not enter TürkStat’s headquarters in Ankara on Friday, with an unknown person at the gate […]
Tag: International financial news
Britain: Slight PMI services slowed in November
The strongest inflationary pressures of the last 23 years have limited the recovery of British companies in the service sector from the pandemic, and hit optimism for next year. The IHS Markit services PMI fell to 58.5 points in November from 59.1 points in October, revised slightly below the initial reading of 58.6 points. The […]
Knot (EKT): High inflation could lead to higher interest rates in 2023
“If inflation continues to exceed expectations next year, the European Central Bank could decide to raise interest rates in 2023,” ECB member Klaas Knot said in an interview. “I can not rule out an increase in interest rates in 2023, if inflation continues to be higher than our baseline scenario in 2022,” the central banker […]
Eurozone: Composite PMI boosted in November, lower than initial estimates
Business activity in the eurozone accelerated last month, but the recovery may be temporary as demand growth slowed and worries about Omicron plummeted. The composite PMI rose to 55.4 points in November from 54.2 points in October, lower than initially estimated at 55.8 points, but still higher than the 50 points separating growth from recession. […]
IMF to G20: Poorer countries may collapse financially if they do not repay their debts
The poorest countries will face economic collapse unless the world’s richest economies agree to step up their debt restructuring efforts, International Monetary Fund (IMF) Managing Director Kristigalina G warned yesterday. About 60% of low-income countries are already facing or at high risk of being severely pressured by their debt, compared to less than 50% in […]
Annual inflation rises in Turkey: CPI at 21.31%
Turkey’s annual inflation rate rose for a sixth straight month in November to a three-year high as the weaker pound and higher inflation expectations pushed up prices. The consumer price index rose to 21.31% in November compared to the same period in 2020, the Turkish statistical service Turkstat announced on Friday. Hotels, cafes and restaurants […]
France: Industrial production increased, higher than expected
France’s industrial output rose on a monthly basis in October, despite supply chain problems, exceeding estimates, according to Insee statistics. Total industrial production increased 0.9% in October compared to September. Economists expected production to increase by 0.3%. Industrial production was 4.5% lower than pre-pandemic levels in February 2020, Insee said. Manufacturing production (the largest component […]
New fall for the pound after the downgrade by Fitch
The pound is falling again against the dollar, as the rating agency Fitch downgraded the country’s outlook from negative to stable, due to the risks from the course of monetary policy. The pound was at 13.75 against the US currency, about 0.6% lower than closing on Thursday. It has lost 46% of its value against […]
Fitch: Degraded Turkey’s outlook – New fall for the pound
The pound is falling again against the dollar, as the rating agency Fitch downgraded the country’s outlook from negative to stable, due to the risks from the course of monetary policy. The pound was at 13.75 against the US currency, about 0.6% lower than closing on Thursday. It has lost 46% of its value against […]
China: Extends preferential taxation for foreign investors in the bond market
Beijing announced yesterday that it was extending preferential tax treatment for foreign investors investing in mainland China. This move is part of the efforts to continue the opening of the mentioned investment sector. Foreign investors are exempt from corporate tax and VAT on their profits from bond yields in the mainland China bond market, according […]
