DIRS.INFO The most relevant business & tech news

☆ Turkey's inflation climbs to 68.5% despite continued rate hikes
▼ + stars: | 2024-04-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Cagla Gurdogan | ReutersTurkey's annual inflation rose to 68.5% for the month of March, an increase on February's 67.1% inflation read, according to the Turkish Statistical Institute's report released Wednesday. Turkey has launched a concerted effort to tackle soaring inflation with interest rate hikes, most recently raising the country's key rate from 45% to 50% in late March. watch nowMuch of the inflation in recent months stems from a significant increase to the minimum wage that Turkey's government mandated for 2024. Economists expect further rate hikes from the central bank will be necessary. Turkey's central bank implemented eight consecutive interest rate hikes from June 2023 to January 2024, totaling a cumulative 3,650 basis points.

Persons: Cagla Gurdogan, Nicholas Farr, Istanbul Mayor Ekrem Imamoglu, Umit Bektas Organizations: Reuters, Economics, Istanbul Mayor, Republican People's Party Locations: Ankara, Turkey, Europe, London, Istanbul Metropolitan, Istanbul

Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ CNBC Daily Open: Fights in Mickey's club house
▼ + stars: | 2024-04-02 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Actors dressed as Walt Disney characters Mickey Mouse (left) and Minnie Mouse (right) perform during a press preview for the "Minnie Besties Bash!" This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks got off to a tentative start for the second quarter as Treasury yields rose on Monday. [PRO] Top 2Q betsBank of America names its top picks for the second quarter, including one Big Tech company.

Persons: Walt Disney, Mickey Mouse, Minnie Mouse, Minnie Besties, Korea's, Jerome Powell's Organizations: Tokyo Disneyland, CNBC, Asia Hong, Japan's Nikkei, CSI, U.S, Rapidus Corporation, of America, Big Tech Locations: Tokyo, Urayasu, Japan, Asia Hong Kong, Asia, Pacific, U.S, Beijing, China, Korea, Taiwan, Hokkaido

☆ Meet the billionaire 'king of subprime car loans' whose company underwrote Trump's $175 million civil fraud bond
▼ + stars: | 2024-04-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Billionaire Don Hankey's company underwrote a $175 million appeal bond for Donald Trump. The 80-year-old oversees Hankey Group, which employs over 3,400 people and whose assets are worth around $22.5 billion, per Forbes. Axos Bank CEO Greg Garrabrants has previously donated around $50,000 to Republican campaigns since 2012, with $9,600 in support of Trump, according to Federal elections records. Related storiesHankey's net worth is estimated at $7.4 billion, according to Forbes — and it's nearly doubled within the last three years. The mansion ended up auctioning for less than half of its expected $500 million worth.

Persons: Don Hankey's, Donald Trump, Hankey, —, Don Hankey swooped, It's, that's, Trump, refinanced, Greg Garrabrants, Forbes —, Ford, Westlake, Niami, David Sucsy, Niami's, Allen J, Schaben, Getty Hankey, Debbie Hankey Organizations: Bel, Service, Hankey Group, Forbes, Hankey's, Specialty Insurance, Bloomberg, Axos Bank, Axos, Trump, Westlake Financial Services, Hankey Investment, Bel Air, Los Angeles Business Journal, University of Southern Locations: Southern California, Bel Air Los, Bel, University of Southern California, Malibu

☆ It's too early to write off Turkey's Erdogan, consultancy says
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's too early to write off Turkey's Erdogan, consultancy saysWolfango Piccoli, co-president, political risk advisory at Teneo, discusses Turkey's opposition victory across several major cities in the country's local elections Sunday, which dealt a severe blow to President Recep Tayyip Erdogan's ruling party.

Persons: Turkey's Erdogan, Wolfango Piccoli, Recep Tayyip Erdogan's

☆ Israeli troops leave Gaza's Shifa Hospital a wreck in sea of rubble
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +2 min

Israeli forces have withdrawn from Al Shifa Hospital in Gaza City after a two-week operation, the Israeli military said on Monday, leaving behind a wasteland of destroyed buildings and Palestinian bodies scattered in the dirt of the complex. The Israeli military said it had killed and detained hundreds of gunmen in clashes in the area of the hospital, and seized weaponry and intelligence documents. "The place is destroyed, buildings have been burnt and destroyed. This place needs to be rebuilt - there is no Shifa hospital anymore," Basel said. Israel said operations inside Al Shifa had been conducted "while preventing harm to civilians, patients and medical teams."

Persons: Samir Basel, Al Shifa, Israel Organizations: Al Shifa, Palestinian Hamas, Civil Emergency Service, Reuters Locations: Gaza City, Gaza, Israel, Palestinian, Basel

☆ Turkey's opposition party just won the local elections. It could prompt a change in the country's relationship with Russia.
▼ + stars: | 2024-04-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Turkey's President's AK Party lost major local elections in Istanbul and Ankara. AdvertisementThe Turkish party led by President Recep Tayyip Erdoğan suffered big losses in local elections held on Sunday. But an opposition victory in the majority of the largest Turkish cities would have "a dampening effect on President Erdoğan's prestige at home," they wrote. Advertisement"The extent to which President Erdoğan can exercise his personal power at home will be a crucial factor that determines Turkey's international behavior," they added. To be sure, the elections on Sunday were local — Erdoğan already won the presidential election in May, securing another term for five years.

Persons: Turkey's, —, Recep Tayyip Erdoğan, Ekrem Imamoğlu, Erdoğan, Vladimir Putin —, Putin, Marc Pierieni, Francesco Siccardi, Erdoğan's, Russia —, Hakan Akbas, Albright, Erdogan Organizations: Turkey's President's AK Party, Service, CHP, Reuters, AK Party, AFP, NATO, Erdoğan's AK Party, Turkish, Carnegie, West, Sunday, AK, Group, AK Party's Locations: Istanbul, Ankara, Russia, Turkey, Carnegie Europe, Ukraine, Moscow, Europe, —

☆ Turkey's local elections — and whoever wins Istanbul — could dictate the future of the country
▼ + stars: | 2024-03-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

As the sunsets, a ferry boat glides across the waters of the Golden Horn with the Suleymaniye Mosque and the city of Istanbul, Turkey in the background. Vw Pics | Universal Images Group | Getty ImagesTurkish President Recep Tayyip Erdogan once said that whoever wins Istanbul wins Turkey. This is odd but also shows how important it is to win Istanbul," Tunca said. Major Turkish cities like Istanbul and the capital Ankara will be key races to watch. Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey.

Persons: Recep Tayyip Erdogan, Imamoglu, Erdogan, People's Party's, Murat Kurum, Arda Tunca, Volodymyr Zelenskiy, Tayyip Erdogan, Umit Bektas, Tunca, Kristin Ronzi, RANE, Erdogan's, Ekrem İmamoğlu, Hakan Akgun, Turkey's, Ronzi Organizations: Getty, Istanbul, sympathizing, Development Party, AK Party, Imamoglu, AK, CNBC, European Union, NATO, Reuters, Party, Imamoglu's CHP, Turkey's, CHP Locations: Istanbul, Turkey, Ukraine, Russia, Arab, Turkish, Ankara, East, North Africa

☆ Neuralink patient said he asked about reports of botched brain-chip surgeries on monkeys
▼ + stars: | 2024-03-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Read previewNeuralink's first patient, Noland Arbaugh, said he did his research before he decided to get the brain implant, including looking into the reports of animal testing gone awry. AdvertisementBefore Elon Musk's company Neuralink began human testing, the company shared demos of monkeys and pig test subjects using the implant. "No monkey has died as a result of a Neuralink implant," Musk wrote on X in September. "It's hard to describe something in your brain," Arbaugh said. Neuralink began recruiting for human trials last year and unveiled its first human patient earlier this month.

Persons: —, Noland Arbaugh, Arbaugh, Neuralink, Elon, UC Davis, Musk Organizations: Service, Business, UC, Reuters, US Department of Agriculture, Wired

☆ Drones have turned the tables in recent African wars
▼ + stars: | 2024-03-16 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Drones recently supplied to Sudan by Iran are already making an impact in that country's brutal civil war. Similar types of drones played decisive roles in turning the tables in two previous African civil wars in recent years and could do so again. "It should come as no surprise that these drones are being used in wars around the world," Rogers told BI. In this context, drones are useful to achieve specific objectives, but they will not win the war alone," Rogers said. RANE's Dodd also credited Ethiopia's drone procurements for decisively "turning the tide" of the Tigray War.

Persons: —, Remi Dodd, RANE, it's, Dodd, James Patton Rogers, Rogers, Turkey's TB2, Loong, Debretsion Gebremichael, RANE's Dodd Organizations: Service, Business, Sudanese Armed Forces, Rapid Support Forces, United, Ethiopian, Tigray, Libyan National Army, Cornell Brooks Tech, Institute, Cornell University, American Warfare, Anadolu, Getty, Democratic Locations: Sudan, Iran, Iranian, Turkey, United Arab Emirates, Ethiopia, Libya, Tripoli, Omdurman, Tehran, Red, Yemen, Ukraine, Tigray War, Tigray, Addis Ababa, Ukrainian, New York, Donetsk, Nigeria, DRC, Democratic Republic of Congo, Burkina Faso

☆ Western special ops activity is on the rise around a new US partner in a strategic but unstable area of the Mediterranean
▼ + stars: | 2024-03-15 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Read previewA former Russian partner who has drawn closer to the US in recent years has lately become something of a hub for Western special operations activity. The country's proximity to Israel, Gaza, and the Red Sea is important for special operations training. Naval Special Warfare Operators (SEALs) and Special Warfare Combatant-Craft Crewmen (SWCC) conduct live fire weapons training with Cypriot Underwater Demolition Command (MYK) forces near Limassol, Cyprus on Jan. 29, 2024. In 2015, Nicosia signed a deal with Moscow allowing Russian warships to access its ports for replenishment. AdvertisementFollowing Russia's invasion of Ukraine, Cyprus barred Russian warships from its ports and scrapped the 2015 agreement, something the US had demanded.

Persons: —, Bill Gallagher, Bill Carlisle, Jeff Butler, Butler, Gallagher Organizations: Service, US Navy SEALs, Warfare, Cypriot, Business, Naval, Craft, Cypriot Underwater, Command, US Navy, Navy, NFL, Super, White House, Cypriot National Guard, Turkish, New Jersey National Guard, Navy SEAL Locations: Russian, Cyprus, Gaza, Germany, Netherlands, Akrotiri, Yemen, Limassol, Levant, North Africa, Asia, Israel, East Coast, Russia, Nicosia, Moscow, Greece, Turkish Republic of Northern Cyprus, Turkey, Ukraine, Cypriot

☆ Turkey opts for new tightening strategy after signaling a pause to hikes
▼ + stars: | 2024-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

A picture taken on August 14, 2018 shows the logo of Turkey's Central Bank at the entrance of its headquarters in Ankara, Turkey. Turkey's central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was over. The institution sent a directive to lenders, effective Friday, instructing them to put parts of their required lira reserves into blocked accounts. Economic data platform Emerging Market Watch posted on X, describing the central bank as taking "another tightening step via reserve requirements." "Last week the CBRT tightened restrictions on lira loan growth, a move that would likely have a similar impact to an interest rate hike."

Persons: That's, Arda Tunca, Dan Murphy Organizations: Turkey's Central Bank, Reuters, CNBC, Capital Economics, FX, Economics Locations: Ankara, Turkey, Turkey's, Istanbul, Turkish, London

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

☆ Turkey's Erdogan Calls for Pressure on Israel to Allow More Aid Into Gaza
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - Turkish President Tayyip Erdogan on Tuesday called for increased international pressure on Israel to ensure more humanitarian aid is allowed into Gaza, and said Ankara will increase its support during the Muslim holy month of Ramadan. "We all know very well that as long as attacks on Gaza and the siege continues, the amount of aid is not enough. Of course, pressure needs to be put on Israel for this," he added, referring to Egypt's border crossing with Gaza. Last week, Turkey's Kizilay (Red Crescent) sent its biggest aid shipment yet to Gaza, dispatching a ship carrying some 3,000 tons of food, medicine and equipment. Netanyahu said on Tuesday that Israel would press forward with its military campaign into Rafah in the southern Gaza Strip.

Persons: Tayyip Erdogan, Israel, Erdogan, Benjamin Netanyahu, Turkey's Kizilay, Netanyahu, Susan Fenton Organizations: Israel Locations: ANKARA, Israel, Gaza, Ankara, Ramadan, Turkey, Egypt, Western, Rafah

☆ Turkey, U.S. discuss Ukraine, Gaza, ways to improve ties, foreign minister says
▼ + stars: | 2024-03-09 | by ( ) www.cnbc.com time to read: +2 min

Turkish and U.S. officials held comprehensive talks about the wars in Ukraine and Gaza and various bilateral issues during meetings in Washington, Turkey's foreign minister said late on Friday. The NATO allies started the meetings, dubbed the Strategic Mechanism, on Thursday to discuss efforts to move beyond deep policy disagreements and improve cooperation in other areas. Turkish foreign minister Hakan Fidan said officials from the countries held several rounds of discussions on topics including Syria, the Ukraine, Gaza, defense industry cooperation, energy, and counterterrorism. Turkey is also deeply concerned over U.S. support for Kurdish militants in Syria, whom Ankara deems terrorists. He said Turkey was open to discussing the matter but Washington needed to be "open minded".

Persons: Hakan Fidan, Fidan, Antony Blinken, Jake Sullivan Organizations: NATO, U.S Locations: U.S, Ukraine, Gaza, Washington, Turkish, Syria, Ankara, Turkey, Kyiv, Moscow, Russian

☆ Automation helps insulate Rohlik from a bruising 2023 for the grocery delivery sector
▼ + stars: | 2024-03-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +6 min

Read previewInvestors couldn't get enough of grocery delivery startups during the pandemic. Rohlik is on a pathway to profitability and has broken even in several key cities, CEO Tomas Cupr told Business Insider. Advertisement"The online grocery industry didn't have the best year in 2023, but we're still growing, which is super positive," Cupr told BI. At least 19 grocery delivery startups were operating across Europe at the height of the market. "The grocery delivery market remains a challenging area in Europe.

Persons: —, Tomas Cupr, Cupr, we've, Turkey's, Germany's, Nalin Patel, Jan Hammer Organizations: Service, Venture, Business, Ventures Locations: Europe, Prague, Czechia, Hungary, Munich, London, Paris, Budapest, Vienna, Istanbul, New York

☆ Turkish Opposition Disarray Lifts Erdogan's Hopes of Winning Back Istanbul
▼ + stars: | 2024-03-07 | by ( March | At A.M. | ) www.usnews.com time to read: +3 min

The alliance that helped propel Imamoglu to victory in Istanbul has since collapsed, and his nationalist and pro-Kurdish allies are fielding their own candidates this month. FRAGMENTED OPPOSITIONBut Imamoglu's hopes in Istanbul have been dented by the decision of the pro-Kurdish DEM Party and the Turkish nationalist IYI Party, whose voters supported him in 2019, to field their own candidates. Metropoll's latest survey showed support for Imamoglu among Kurdish voters had declined to 32% last month from 35% in January. Support among IYI party voters fell to 45% from 64%. Imamoglu has accused central government of hampering his delivery of services in Istanbul since 2019.

Persons: Tayyip Erdogan's, Ekrem Imamoglu, Erdogan, Imamoglu, pollsters MAK, Murat Kurum, pollster Murat Gezici, Kurum, Sencar, pollsters Metropoll, Imamoglu's, Ertan Aksoy, Canan Sevgili, Daren Butler, Gareth Jones Organizations: Birsen Altayli, AK Party, CHP, AKP, DEM Party, Turkish, IYI Party, Aksoy Research Locations: Birsen, Birsen Altayli ISTANBUL, Istanbul, Turkey's, Israel, Gaza, Ankara, Turkish, Imamoglu's, Turkey

☆ We got a 2.6% mortgage rate this year to buy our first home. Here's how we did it.
▼ + stars: | 2024-03-06 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +7 min

An assumable mortgage allows qualifying buyers to acquire the interest rate, current principal balance, and other conditions of a seller's existing loan. AdvertisementGrace: An assumable mortgage is not a new loan, you're just taking over the owner's loan term and interest rate. Grace: We talked about the assumable mortgage for about a day and decided we were going to go for it. He put us in contact with an assumable loan expert, Mark McDonough, and he quickly became one of the most important people on our side. AdvertisementNow that our assumable mortgage is saving us about $2,000 each month, it makes the stress a little less because we have the option of having more money available.

Persons: —, Grace Lucchese, Mickey Ricard, Mickey, Ricard, It's, Mickey's, Grace Lucchese Mickey, Grace, Mark McDonough, they'd, Mark, Paul, We're, Grace Lucchese Grace, We've Organizations: Service, Business, Lucchese Locations: Westford , Massachusetts, Massachusetts, Lawrence, Framingham, Sudbury, Boston, The couple's Massachusetts

☆ A traditional Russian ally snubbed Moscow's latest fighter jets for competitors from Pakistan and Turkey
▼ + stars: | 2024-03-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Azerbaijan's biggest arms supplier has been Russia but it will likely acquire jets from elsewhere. AdvertisementThe small, oil-rich South Caucasus country of Azerbaijan has big plans to upgrade its modest fleet of fighter jets over the next decade. However, rather than turn to Russia, its traditional arms supplier for decades, Baku will likely acquire modern fighters from Pakistan and Turkey. "Neither Russia nor Western democracies are ideal suppliers, even though Russia has historically sold arms to Azerbaijan," Roblin told Insider. Turkey provided training and arms that enabled Azerbaijan to defeat Armenia's armed forces in the 2020 war over the Nagorno-Karabakh enclave.

Persons: —, Frederico Borsari, Borsari, Sebastien Roblin, Roblin, Armenia's, Sukhoi Su, Tatyana Makeyeva Azerbaijan's, China's, Armenian Su Organizations: Service, Thunder, Turkey's TF, Center for, Business, Azerbaijan, Russian, Pakistan Aeronautical, Chengdu Aircraft Corporation, REUTERS, Armenia, Azerbaijan's MiG Locations: Russia, Moscow, Caucasus, Azerbaijan, Baku, Pakistan, Turkey, Pakistani, Ukraine, China, Armenia, Ankara, Nagorno, Karabakh, Zhukovsky, Soviet

BABYLON, N.Y. (AP) — Four people were charged Wednesday with concealing a human corpse and tampering with evidence in connection with the discovery of body parts in parks on Long Island. All four defendants pleaded not guilty to hindering prosecution, tampering with physical evidence and concealing a human corpse and were released without bail. The next day, a cadaver dog located the head, an arm and parts of two legs. Additional remains found Tuesday in nearby West Babylon and in a state park were from the same two people, police said. The four defendants were arrested after police executed a search warrant at the Amityville home that Wallace, Mackey and Brown share.

Persons: Amanda Wallace, Jeffrey Mackey, Steven Brown, Alexis Nieves, Wallace, Mackey, Brown, Frank Schroeder, John Halvorson, ”, Ira Weissman, “ Steven Brown didn't, ” Weissman, Wallace's, Nieves Organizations: New York City . Police, Amityville, Newsday, Court Locations: Long, Amityville, Babylon, New York City, West Babylon, Suffolk County

☆ Turkish annual inflation soars to 67% in February
▼ + stars: | 2024-03-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Turkish 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 month. The combined sector of hotels, cafes and restaurants saw the greatest annual price inflation increase at 94.78%, followed by education at 91.84%, while the rate for health stood at 81.25% and transportation at 77.98%, according to the statistical institute. "Obviously a disappointing set of inflation prints this morning," Timothy Ash, emerging markets strategist at BlueBay Asset Management, wrote in a note. He added that this development has "continued to put downward pressure on the lira," creating an inflation pass-through.

Persons: Liam Peach, Mehmet Simsek, Turkey's, Timothy Ash, Ash Organizations: Turkish Statistical Institute, Reuters, Food, Economics, Capital Economics, Turkish, BlueBay Asset Management, FX Locations: Sariyer, Istanbul, Turkish, London

☆ I was in Moscow the day Putin invaded Ukraine, and some Russians were in tears
▼ + stars: | 2024-02-24 | by ( Cameron Manley | ) www.businessinsider.com time to read: +10 min

Russian police officers detain a woman during an unsanctioned protest rally against the military invasion on Ukraine, March,6, 2022, in Central Moscow, Russia. These quickly ceased when they saw Russian colleagues in tears, whose life savings had halved overnight. Russian friends began referring to Tbilisi as the "new Constantinople," referencing the city where anti-Bolshevik Russians fleeing the Communist revolution had taken refuge a century before. Russian President Vladimir Putin (L) meets French President Emmanuel Macron (R) on February 07, 2022 in Moscow, Russia. I stood at the glass window silently as the Russian border guard inspected my passport and now useless work permit.

Persons: —, Cameron Manley, Russia's, didn't, Vladimir Putin, Putin idi nakhui, Putin, Mir, Pushkin, Konstantin Zavrazhin, Alexey Malgavko, Stringer, Zelenskyy, Volodymyr Zelenskyy, Karen Minasyan, pragmatically, gossiped, Emmanuel Macron Organizations: Service, Business, REUTERS, National Guard, Anadolu Agency, Getty, Armed Forces of, Facebook, Bolshevik, Communist, Kremlin Press, AP, Saint Locations: Edinburgh, Scotland, Moscow, Ukraine, Russia's, Europe, Russia, Central Moscow, Russian, Omsk, Kyiv, Armed Forces of Ukraine, seeping, Belarus, Yerevan, Armenia, AFP, Istanbul, Dubai, Tbilisi, Constantinople, St Petersburg, Helsinki, West, Switzerland, Saint Petersburg, Finland

☆ Turkey holds interest rate at 45% for first time after 8 months of hikes
▼ + stars: | 2024-02-22 | by ( Natasha Turak | ) www.cnbc.com time to read: 1 min

Turkey is expected to head to the polls on Sunday. Turkey'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 the bank indicated in January that its 250-basis-point hike would be its last for the year, despite inflation now at roughly 65%. Consumer prices in the country of 85 million last month jumped 6.7% from December — their biggest monthly jump since August — according to the Turkish central bank's figures. This is a developing story and will be updated shortly.

Organizations: Turkish Locations: Turkey, Turkish

☆ Turkey didn't get the F-35, but the new fifth-generation fighter jet it's been working on just made its first flight
▼ + stars: | 2024-02-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Turkey's first domestically made fighter jet successfully completed its maiden flight, and a new video captured the moment for the new fifth-generation aircraft. It's a major step forward for Turkey's efforts to acquire a fifth-generation fighter. The country was previously kicked out of the US-led F-35 program in 2019 as a consequence for purchasing S-400 air-defense systems from Russia. Turkey's aim is to field fifth-generation fighter jets that will eventually replace the country's F-16 fleet. Wednesday's flight heralds a promising step forward for Turkey, especially after it was expelled from the US-led F-35 Joint Strike Fighter program.

Persons: —, Turkey's, yerli, Temel Kotil, Recep Erdogan, Samuel King Jr, Fielding Organizations: Service, Turkish Aerospace Industries, Turkish Air Force, Eglin Air Force Base, US Air Force, senior Defense Department, Pentagon Locations: Russia, Turkey, Russian, NATO, Turkish

☆ Turkey is back in from the cold with NATO and F-16 moves, but thorny issues remain
▼ + stars: | 2024-02-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Turkey spent nearly two years — along with Hungary — holding up Sweden's accession to NATO. Within hours of Ankara's decision, the U.S. approved a $23 billion sale for F-16 fighter jets to Turkey that had been delayed since 2021. It's worth noting that Hungary has yet to approve Sweden's NATO bid, and remains the only member of the alliance standing in the way of the Nordic country's accession. Turkey seemingly has a unique position that allows it to push the envelope and cross lines with its NATO allies. "My approval of Turkey's request to purchase F-16 aircraft has been contingent on Turkish approval of Sweden's NATO membership.

Persons: Turkey Recep Erdogan, It's, Recep Tayyip Erdogan, it's, Victoria Nuland, David Lepeska, Ben Cardin Organizations: NATO, Conference, Hungary —, UAE, Democratic, Senate Foreign Relations Locations: Turkey, Vilnius, Lithuania, Hungary, Sweden, Washington, Russian, Turkish, Eastern

Search resuls for: "KEY's"

25 mentions found