Turkey's inflation rate slowed for a third successive month in January, official data showed Friday, after a record that threw the economy into chaos and imperilled President Recep Tayyip Erdogan's chances in May 14 polls.. The opposition has been pillorying Erdogan's handling of the economy -- particularly his unorthodox belief that high interest rates accelerate inflation instead of slowing it down.
The market rout suffered by Indian tycoon Gautam Adani is the latest corporate scandal to plague one of the world's largest economies despite Prime Minister Narendra Modi's efforts to root out corruption.. Having linked hands while Modi ran the state, when he became prime minister their close cooperation went national, enabling Adani to expand into virtually every area of the economy.
Beleaguered Indian tycoon Gautam Adani denied Friday that his rise to become Asia's richest man -- a title he has lost in a phenomenal stock rout -- was due to Prime Minister Narendra Modi, as shares in his conglomerate slumped again.. In his interview Friday, Adani said that only 32 percent of his firms' loans were owed to Indian banks, with almost half their debt obtained through international bonds. grk/slb/dan
Shares in the flagship firm of beleaguered Indian tycoon Gautam Adani were repeatedly suspended on Friday as a rout triggered by allegations of accounting fraud deepened.. This "brazen stock manipulation and accounting fraud scheme" is "the largest con in corporate history", Hindenburg said.
Mexico welcomes investment by all countries in its clean energy projects, its foreign minister said on Thursday, launching a diplomatic charm offensive amid international concerns over controversial power reforms.. "We want to invite all the countries of the world, all the companies of the world" to "participate, invest, be part of the future of Mexico," Foreign Minister Marcelo Ebrard said.
Thousands of Egyptian bibliophiles weave through a labyrinthine display of books, reviving an annual tradition at the Arab world's largest book fair, but this year it comes at a steep cost.. A steep currency devaluation has compounded costs for import-dependent publishers, leading many to hike the price of books by up to double.
Asian equities were mixed Friday as the optimism over a possible pause in Federal Reserve interest rate hikes again gave way to worries about the global economy as more than a year of monetary tightening kicks in.. On currency markets, the euro and pound lost further ground after weakening Thursday despite the European Central Bank and the Bank of England hiking interest rates more than the Fed.
A handful of unhygienic pranks at sushi conveyor belt restaurants in Japan have sparked stock slumps, venue overhauls and legal action, along with furious social media commentary.. Two other affected chains, Hama-sushi and Kura Sushi have both also reportedly said they plan to take legal action, with the latter now planning to install cameras above conveyor belts to monitor customers, Jiji press agency reported.
A vacation to watch the Mexican Grand Prix ended in tragedy for one tourist poisoned by carbon monoxide, fueling calls for regulation of popular accommodation rental websites like Airbnb and Booking.com.. Arce is just one of several people killed recently by suspected carbon monoxide leaks in Mexico City -- prompting increased pressure for authorities to urgently regulate online vacation rentals.
Conspiracy theorists who blamed NFL player Damar Hamlin's cardiac arrest on Covid-19 vaccines have doubled down on their claims despite his speedy recovery, insisting he secretly died in an elaborate cover-up involving deepfake videos and other deceptive means.. Their new narrative insisted Hamlin had died from his Covid-19 shots and a clone, body double or actor had replaced him to conceal "the truth."
