Yousef Gamal El-Din | CNBCEgypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency.The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of...
The Maslak financial and business center in the Sariyer district of Istanbul.Ayhan Altun | Moment | Getty ImagesTurkish annual consumer price inflation soared to 67.07% in February, the Turkish Statistical Institute said Monday, coming in above expectations.Analysts polled by Reuters had anticipated annual inflation would climb to 65.7% last...
An Emirati woman paddles a canoe past skyscrapers in Abu Dhabi, United Arab Emirates, on Wednesday, Oct. 2, 2019.Christopher Pike | Bloomberg | Getty ImagesDUBAI, United Arab Emirates — Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala on Monday signed a $1 billion private credit partnership to co-invest...
Turkish flag over a DenizBank building. Turkey is expected to head to the polls on Sunday.Ismail Ferdous | Bloomberg | Getty ImagesTurkey's central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes.The move was widely expected as...
An Israeli national flag above produce for sale at Carmel Market in Tel Aviv, Israel, on Tuesday, Nov. 7, 2023. Bloomberg | Bloomberg | Getty ImagesIsrael's gross domestic product shrank by nearly 20% in the fourth quarter of 2023, according to official figures. The contraction was significantly larger than expected...
DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai's World Governments Summit."China's biggest problem to me is a lack of confidence. External investors lack...
Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023.Kevin Dietsch | Getty Images News | Getty ImagesThe head of the International Monetary Fund warned the Russian economy is still facing significant headwinds despite receiving a recent growth...
Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty ImagesTurkey's newly appointed central bank governor Fatih Karahan has his work cut out for him, named to the job by presidential decree over the weekend after...
President of Turkey Recep Erdogan addresses journalists during the final national press conference during the high level NATO summit in Litexpo Conference Centre in Vilnius, Lithuania on July 12, 2023.Dominika Zarzycka | Nurphoto | Getty ImagesIn January, Turkish inflation logged its biggest monthly jump since August with a 6.7%...
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023.Bloomberg | Bloomberg | Getty ImagesTurkey's central bank on Thursday hiked its key interest rate by another 250 basis points to 45%.The hike to the benchmark one-week repo rate was in line...