Turkey's official inflation rate barely changed on Monday in a sign that a year-long crisis that has seen prices soar by 80 percent may finally be starting to ease.. The central bank said over the weekend it expects the inflation rate to fall to 65 percent by the end of the year.
Cryptocurrency critics, including economists and researchers, will gather in London and online this week to get their message across to regulators about the booming but volatile sector.. About 1,000 people have signed up to watch the conference online and UK officials are expected to attend a live event in London on Tuesday.
Asian markets were mixed Monday as the positive vibes from a US jobs report were offset by growing fears about an energy crisis in Europe, Chinese Covid lockdowns and geopolitical tensions.. In early Asian trade on Monday, Hong Kong was the biggest loser, with tech firms hit by reports that the United States was considering imposing fresh limits on investments in Chinese firms.
Residents of a Nile island in greater Cairo woke up in recent weeks to find officials taking measurements of their houses -- a final step before enforcing demolition orders.. Some residents have been relocated to "mega public housing projects on the periphery", but most find "other informal areas a better solution", he added.
After raising interest rates for the first time in over a decade at their last meeting, European Central Bank policymakers are poised to deliver another bumper hike on Thursday in a show of determination to tame soaring inflation.. Speaking at the annual Jackson Hole central banking symposium at the end of August, ECB board member Isabel Schnabel said the ECB needed to show "determination" to tame price rises.
Republican-led US states such as Texas and West Virginia are piling pressure on firms including giant asset manager BlackRock for supposedly boycotting oil and gas companies as part of "responsible" investment strategies.. BlackRock, the world's biggest asset manager, says it has invested more than $108 billion in Texas oil companies, including ExxonMobil.
Faced with recession fears, the OPEC+ countries are expected to agree a modest increase in oil production at a meeting on Monday, with some experts even forecasting a cut to support prices. . Matthew Holland of Energy Aspects said a cut in production -- which would be the first since the drastic cuts made to cope with moribund demand during the coronavirus pandemic -- would come up at the next meeting in October.
The Cuban peso is at its weakest against the US dollar since the 1990s, a currency tracker said Sunday, as the communist island struggles through its worst economic crisis since the fall of the Soviet bloc.. "The exchange rate is a reflection of the contraction in national productive activity, of scarcity, of monetary imbalances and of despair," Colombia-based Cuban economist Pavel Vidal told AFP. Cuba is undergoing its worst economic crisis since the 1990s, with food and medicine shortages and daily blackouts.
On the shores of an island off Norway's North Sea coast, engineers are building a burial ground for unwanted greenhouse gas.. Norway is the biggest hydrocarbon producer in Western Europe, but it also boasts the best CO2 storage prospects on the continent, especially in its depleted North Sea oil fields.
Like many people in crisis-hit Lebanon, Elias Skaff used to wait for hours to withdraw cash at the bank but now prefers money transfer companies as trust in lenders has evaporated.. "Rather than waiting for hours at the bank, which is often crowded, they can hand over the money to an agency," said the man who asked not to be fully named.
