Turkey Financial News

The contraction in euro area business activity deepened this month, most notably in Germany where the decline was the steepest since the pandemic brought the economy to a screeching halt in May 2020. France reported a third monthly drop in output, while the rest of the region contracted more moderately, according to a survey of purchasing managers. Sweden’s economic prospects dimmed, while a decline in UK retail sales underscored greater consumer caution. In Turkey, central bankers, including newly appointed officials led by Governor Hafize Gaye Erkan, surprised markets with the steepest interest-rate increase since 2018.

Africa as the last continent of hope, Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises and Chair, B20 India Action Council on African Economic Integration said that adopting Africa as a place to do agriculture can be the way forward amid the crisis that the world is going through in food production. “60% of the world's arable and yet uncultivated land is in Africa. Today we all see the crisis that the world is going through and especially with Ukraine getting out of the equation of supplying wheat to African nations and many other poorer countries, prices have sold out.

The chairperson of the company that owns Turkey’s Pegasus Airlines has been injured in a boating accident while vacationing in Greece

Bernie Marsden, the former guitarist of British hard rock band Whitesnake, died at the age of 72. Confirming the death of the legend, his friend and bassist Neil Murray said «Bernie died peacefully on Thursday evening with his wife, Fran, and daughters, Charlotte and Olivia, by his side.»

Crypto trading platform Bitfinex has unveiled a feature that allows its Turkish customers to directly deposit Turkish Lira into their accounts without incurring any charges.

Peru is believed to be over 4,000 years old and could have been part of a ceremonial temple, according to archaeologists, offering new insights into the region's historic cultures. The wall was first stumbled upon by farmers in 2020 during harvesting work, prompting an extended dig and work to determine its origins, said archaeologist Feren Castillo, head of a research project in the coastal region of La Libertad. «Three years later we started a new procedure whose results showed us its age… Today we are sure it's a building built during the Pre-ceramic Period (the initial period of the Andean civilizations) between 4,000 and 4,500 years ago», the expert said this week", the expert said this week. The remains of the ancient building were revealed in the Viru Valley, some 480 km (298 miles) north of Lima. The wall is estimated to be about three meters (9.84 feet) high and presents triangular geometric lines with occasional shades of red and yellow, Castillo added.

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By Natalie Grover

Indians were granted a total of 17,379 work visas last year, Federal Foreign Office of Germany said. Germany granted a total of 152,336 national work visas to foreigners in 2022, representing a significant increase compared to 2021. Out of the total visas issued to Indians, 8,613 work visas were granted by the German Consulate General in Bangalore. The second-highest number of work visas for Indians was granted by the German Consulate General in Mumbai (3,013), followed by the Consulate General in Chennai (2,483), the German Embassy in New Delhi (2,434), and the German Consulate in Kolkata (836). Turkish nationals are the second-largest beneficiaries of work visas issued by Germany followed by Bosnians, Kosovars, Russians, Albanians, and North Macedonians. This comes at a time when German cabinet on Wednesday passed a draft bill to ease the citizenship law, hoping a faster track to German nationality will attract skilled migrants to plug chronic labour shortages holding back Europe's biggest economy. Some experts caution that progress may be slow, noting parts of Germany's administrative machinery are already creaking under a big backlog of existing citizenship applications.

Fenerbahce SK defeated FC Twente in the UEFA Europa Conference League play-off round by 5-1. The Turkish club has won all of their last seven matches. Fenerbahce beat Samsunspor 2-0 in their Super Liga campaign on Monday. Earlier on August 13, they thrashed the Gaziantep team 2-1 at the Sukru Saracoglu Stadium.

Turkey's central bank hikes key interest rate to 25% to combat inflation, in a new sign of normalizing economic policy

Turkey’s central bank has raised its key interest rate by an aggressive 7.5 percentage points, in a new sign of a return to more traditional economic policies

By Ali Kucukgocmen and Jonathan Spicer

Gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilise near a key $1,900 level ahead of a central bankers' gathering that would likely provide cues on interest rates outlook. FUNDAMENTALS * Spot gold was up 0.2% at $1,900.30 per ounce by 0123 GMT, while U.S.

Air India Express has chalked out an aggressive expansion drive deploying 50 Boeing 737 Max planes by the end of 2024. The airline is aiming to corner a firm second place, behind market leader IndiGo, in the cut-throat Indian domestic market, people aware of the development said. Air India Express, which currently has 25 aircraft, is in the process of being merged with AirAsia India, which has 28 Airbus A320neo planes.

Toto Cutugno, a prominent personality of Italian music, has passed away today at the San Raffaele Hospital in Milan. The renowned singer-songwriter, who recently celebrated his 80th birthday in July, had been under hospital care for several months at the San Raffaele Hospital in Milan. Cutugno's international presence was significant, cementing his status as one of Italy's most beloved performers.

Greece, a tragic development emerged when 18 bodies were discovered in a forested area of northern Greece, which has been engulfed by wildfires for the past four days, according to the Greek fire service.

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By Natalie Grover and Paul Carsten

American streaming platform Netflix has announced that the fourth season of its comedy drama Sex Education, will premiere on 22 September. It stars Asa Butterfield, Gillian Anderson, Ncuti Gatwa, Emma Mackey, Connor Swindells, Kedar Williams-Stirling, Alistair Petrie, Mimi Keene, and Aimee Lou Wood. Viewership of international content on over-the-top (OTT) video streaming platforms in India has nearly doubled in 2022 as audiences took to original and dubbed versions of English, Turkish, Spanish and Korean shows and films.

BAGHDAD (Reuters) — Iraq's oil minister Hayan Abdel-Ghani arrived in the Turkish capital Ankara to discuss several issues including the resumption of oil exports through the Ceyhan oil terminal, a source in the minister's office told Reuters on Monday.