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...
Vanishing Turkish Currency: 1 Turkish Lira with the Portrait of Kemal AtatürkTurkishManuel Augusto Moreno | Moment | Getty ImagesThe Turkish lira hit a fresh record low against the U.S. dollar on Thursday, trading at 30.005 to the greenback just before noon local time. It marks the first time that...
Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC.Estimates for the kingdom's untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5...
Cityscape of Saudi capital Riyadh.Harri Jarvelainen Photography | Moment | Getty ImagesDUBAI, United Arab Emirates — Saudi Arabia announced a 30-year tax exemption package for foreign companies establishing their regional headquarters in the kingdom, the latest move in its aggressive campaign to attract international investment and headcount."The Ministry of...
Emirates airlines Boeing 777-31H(ER) takes off from Los Angeles international Airport on January 13, 2021.Aaronp / Bauer-Griffin | GC Images | Getty ImagesDUBAI, United Arab Emirates — Emirates Group posted its highest-ever half-year earnings, reporting net profit of 10.1 billion dirhams ($2.75 billion) for 2023-24 on rebounding demand.The figure...