Turkish Finance Minister Lutfi Elvan was replaced late Wednesday by Deputy Finance Minister Nuredin Nebati, who is taking over as minister, according to the duvaR website. Rumors have surfaced earlier that Elvan may soon step down as Turkey’s finance minister because of his opposition to President Recep Tayyip Erdogan’s view on how to tackle inflation. […]
Tag: International financial news
Fed (Beige Book): The US economy grew at a modest pace in October
The US economy grew at a modest pace in October and the first half of November, as businesses “struggled” with rising inflation and struggled to fill jobs amid labor shortages, the Fed said in its latest report. Beige Book, published Wednesday. “Prices have risen moderately to strongly, with increases visible in all sectors of the […]
Powell (Fed): Risks of ‘persistent’ high inflation have increased
The risks of “persistent” high inflation have “clearly increased”, Federal Reserve Chairman Jerome Powell told a congressional finance committee on Wednesday, adding that monetary policy would be adjusted. This is another clear signal from the head of the US Federal Reserve that the Fed will accelerate the tightening of its monetary policy, as it did […]
To postpone decisions by the ECB on the pandemic program
The new data created in the economic field by the Omicron mutation, are very likely to postpone for February the final decisions of the ECB for the “Pandemias” bond purchase program. Although the head of the Eurogroup, Irish Finance Minister R. Donohoe appeared quite optimistic today, estimating that “Omicron” is not going to affect the […]
US: Manufacturing data conflicting
Contradictory conclusions were reached by two different surveys of the manufacturing sector published today in the US. In particular, the Institute for Supply Management (ISM) survey showed an increase in manufacturing activity in November, with the relevant index climbing to 61.1 in the previous month from 60.8 in October. Analysts’ average estimates in a Reuters […]
Russia and Belarus have agreed on gas prices
Gazprom and the Belarusian government have reached an agreement on the price of gas supplies to the country in 2022, according to the Russian news agency Ria Novosti, citing a statement from the Belarusian Ministry of Energy today. “On December 1, 2021, in St. Petersburg, the Minister of Energy of Belarus Viktor Karankevich and the […]
US: Data on new jobs in November are better than expected
U.S. companies continued to add jobs at a healthy pace in November, confirming that the job market continues to draw momentum from the strong recovery in the U.S. economy. In particular, the private sector added another 534,000 jobs last month, up from 570,000 in October, according to a survey by the ADP Research Institute. Analysts’ […]
Turkish stocks are both the best and the worst in the world this quarter
Turkish stocks rallied again, extending unchecked this quarter as the pound weakened, prompting local investors to look for ways to protect their savings while making the country’s stocks too cheap to ignore. foreign buyers. According to Bloomberg, the key Borsa Istanbul 100 index rose as much as 2.7% on Wednesday, a day after the pound […]
Turkish banks announced a profit increase for the 10 months of 2021
Outbursts of anger and resentment are the main emotions that Turkish citizens have begun to express, reacting after a long time to the economic and micropolitical machinations of Turkish President Recep Tayyip Erdogan brought the Turkish lira to almost double its value within two years against the dollar and the euro. In fact yesterday the […]
OECD: Inflation the main risk to the outlook for the global economy
The main risk for the global economic outlook is that the current rally in inflation will last longer, with prices exceeding estimates, warns the Organization for Economic Co-operation and Development (OECD) in an analysis released today. Global growth is expected to reach 5.6% this year, to slow to 4.5% in 2022 and 3.2% in 2023, […]
