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☆ Turkey's inflation hits 24-year high of 85.5% after rate cuts
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

ISTANBUL, Nov 3 (Reuters) - Turkish annual inflation climbed to a new 24-year high of 85.51% in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices. Inflation has surged since last year, when the lira slumped after the central bank began cutting its policy rate in an easing cycle long sought by President Tayyip Erdogan. In the last three months, the central bank slashed its policy rate by a total of 350 basis points to 10.5%. Month-on-month, consumer prices rose 3.54%, the Turkish Statistical Institute said, below 3.60% forecast in a Reuters poll. The annual inflation in October was the highest since June 1998, when Turkey was working to end a decade of high inflation.

☆ China says U.S. has 'no right' to interfere in Hamburg port deal
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 3 (Reuters) - The U.S has "no right" to interfere in Chinese cooperation with Germany, China's foreign ministry said Thursday, after Washington cautioned against Beijing getting a controlling stake in Hamburg's port terminal. U.S. interference is symptomatic of its practice of coercive diplomacy, foreign ministry spokesman Zhao Lijian told reporters at a daily briefing in Beijing. Chinese shipping giant Cosco made a bid last year to take a 35% stake in one of logistics firm HHLA's (HHFGn.DE) three terminals in Germany's largest port, but Germany's coalition was divided over the deal. Last week the German cabinet approved a 24.9% stake investment by Cosco in what an economy ministry source described as an "emergency solution" to approve the deal but mitigate the impact. Reporting by Eduardo Baptista, Writing by Martin Quin Pollard; Editing by Raissa Kasolowsky and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ North Korea: U.S. and South Korea air drills terrible mistake
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Nov 3 (Reuters) - North Korea said on Thursday that the United States and South Korea have made a very risky and wrong decision by extending air force drills, and that the two countries will come to know what a terrible mistake they have made, the North's KCNA news agency said. Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ EXCLUSIVE In letter, Sweden lists 'concrete actions' on Turkey's concerns over NATO bid
▼ + stars: | 2022-10-21 | by ( Jonathan Spicer | ) www.reuters.com time to read: +5 min

Yet Turkey's President Tayyip Erdogan said as recently as Oct. 6 that its demands had not yet been met. In its letter to Turkey, Sweden said that "concrete action has been taken on all core elements of the trilateral agreement". Sweden's foreign ministry, Turkey's foreign ministry and the communications arm of Erdogan's office each did not immediately respond to a request for comment on the letter. The letter was meant to reassure Turkey of Sweden's efforts amid ongoing bilateral talks and to encourage ultimate approval of the NATO membership bid, the source added. In a sign that talks were progressing, Sweden's foreign minister said on Friday he expects the last two holdouts, Turkey and Hungary, to vote soon on its NATO applications.

☆ Music star Taylor Swift releases new album 'Midnights'
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

Oct 21 (Reuters) - U.S. music superstar Taylor Swift released her 10th studio album "Midnights" on Friday, as well as additional tracks made during the record making process. The 32-year-old singer-songwriter describes the 13-track record "as a collage of intensity, highs and lows and ebbs and flows". With the post on her Instagram continuing: "Life can be dark, starry, cloudy, terrifying, electrifying, hot, cold, romantic or lonely. Meanwhile "Snow On The Beach" features singer Lana Del Rey, a singer Swift said she had long admired. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sarah Mills; Additional reporting by Marie-Louise Gumuchian; Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ Czech central bank vice governor: More rate hikes needed
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

Mora has voted in favour of raising rates throughout the central bank's year-long tightening cycle, which increased the main rate by 675 basis points in total and ended in June. Register now for FREE unlimited access to Reuters.com RegisterMora said that inflation should return to the central bank's 2% target fast. Mora said the central bank should hike rates by at least 50 basis points at its next meeting on Nov. 3. Michl took the helm of the central bank in July. Mora said that he would not seek another term at the central bank board after his current one expires on Feb. 13, 2023.

☆ U.S. diplomat's wife pleads guilty over fatal UK car crash
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

A banner and a memorial area for British teenager Harry Dunn who died in a road traffic collision is pictured near to the entrance of RAF Croughton, in Croughton, near Brackley, Britain June 11, 2021. The crash led to a diplomatic spat between London and Washington, with the British government backing the call for Sacoolas to be prosecuted. Sacoolas will be sentenced in the week commencing Nov. 28, and the judge, Bobbie Cheema-Grubb, directed that she attend in person. "If sentence is one that does not involve immediate custody, there is no barrier to her returning home after the hearing," the judge said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Michael Holden Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

He said Russia acknowledged that the incident took place in international airspace, adding that patrols have now resumed, and British aircraft were now being accompanied by fighter aircraft escorts. Wallace visited Washington earlier this week, prompting speculation as to whether a specific threat or piece of intelligence had prompted the trip. Ukraine has retaken territory in eastern Ukraine, leading President Vladimir Putin to order a partial Russian mobilisation and also step up nuclear rhetoric. Wallace repeated that there would be "severe consequences" for Russia if it used nuclear weapons in Ukraine, adding that he discussed Ukraine's battlefield successes and the possible Russian response to them on the trip. He emphasised that the incident with the Russian fighter and the UK "Rivet Joint" plane highlighted the risks of miscalculation in interacting with Russia.

☆ Factbox: Who are the candidates to replace UK PM Truss?
▼ + stars: | 2022-10-19 | by ( Kate Holton | ) www.reuters.com time to read: +4 min

LONDON, Oct 20 (Reuters) - Liz Truss said on Thursday she would resign as British prime minister just six weeks after she was appointed. A leadership election will be completed within the next week to replace Truss, who is the shortest serving prime minister in British history. Wallace, a former soldier, was defence minister for both Johnson and Truss, leading Britain's response to Russia's invasion of Ukraine. Boris JohnsonFormer prime minister Johnson, a journalist, has loomed large over British politics ever since he became London Mayor in 2008. The Times reported that Johnson is expected to stand in the Conservative Party leadership contest.

☆ Child sex abuse in Britain is epidemic, UK inquiry says
▼ + stars: | 2022-10-19 | by ( Michael Holden | ) www.reuters.com time to read: +4 min

"This is not just a historical aberration which happened decades ago, it is an ever-increasing problem and a national epidemic." The inquiry heard from 725 witnesses during 325 hearings which began in Feb. 2017, processing nearly 2.5 million pages of evidence. More than 6,000 victims and survivors of abuse also related their experiences to the inquiry's 'Truth Project'. Even while it was carrying out its investigations, the scale of online abuse had risen dramatically, the inquiry said. Lawyers who represented victims involved in the inquiry welcomed its findings, but said the recommendations did not go far enough.

☆ BoC to dial down size of rate rises again but not done yet: Reuters poll
▼ + stars: | 2022-10-18 | by ( Indradip Ghosh | ) www.reuters.com time to read: +3 min

The expected move at the BoC's next meeting would be the second consecutive reduction in the size of rate rises after a 100 basis point move in July and 75 basis points last month. Given more U.S. Federal Reserve rate rises are due in coming months, the BoC is likely to get the overnight rate, currently at 3.25%, even further above its 2-3% estimate of neutral, where the economy is neither stimulated nor restricted. So far the BoC has matched the 300 basis points of Fed rate rises since March. "We continue to assume the BoC will dial back the pace of rate hikes with a 50 basis point increase later this month," said Josh Nye, senior economist at RBC. Most economists forecast another slowdown in the size of rate rises to 25 basis points in December and January, taking the overnight rate to a peak of 4.25%.

☆ German investor morale less pessimistic than expected - ZEW
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Summary Analyst: gas price brake stabilised sentimentCurrent conditions index takes sharp tumbleOutlook has deteriorated again - ZEW presidentBERLIN, Oct 18 (Reuters) - German investor sentiment was less pessimistic than expected in October, even as the view of the current economic situation left little room for optimism following a tumble in confidence the month before. The ZEW economic research institute said on Tuesday its economic sentiment index grew slightly in October, to -59.2, from -61.9 in September, beating a forecast by analysts polled by Reuters of a reading of -65.7. In contrast, the institute's current conditions index fell by 11.7 points in October to a reading of -72.2. In its forecast released this month, the German government foresees economic growth of 1.4% this year and contraction of 0.4% next year. ZEW's indicators for euro zone sentiment and assessment of the current conditions mirrored Germany's, with sentiment up slightly in October and the situation indicator falling sharply.

"I do want to accept responsibility and say sorry for the mistakes that have been made," Truss told the BBC late on Monday. The Daily Mail, which had hailed Truss's plan, ran a front page with the prime minister leaving parliament on Monday underneath the headline "In office, but not in power" while the also supportive Sun newspaper called her "The Ghost PM". James Heappey, a minister for the armed forces, said on Tuesday Truss, his boss, could not afford to make any more mistakes. With Britain's economic reputation shattered, Hunt may now have to go further in finding public spending cuts than the government would have done had Truss not unleashed her economic plan at a time of surging inflation. One area of spending already to go is Truss's vast two-year energy support package that was expected to cost well over 100 billion pounds.

☆ 'We want respect': Putin's authority tested in Central Asia
▼ + stars: | 2022-10-18 | by ( Olzhas Auyezov | ) www.reuters.com time to read: +5 min

Register now for FREE unlimited access to Reuters.com Register"We want respect. Respect," said Emomali Rakhmon, Tajikistan's president since 1994, complaining that Moscow's attitude had not improved since the Soviet era. The conflict prompted Japarov to skip an informal meeting of ex-Soviet leaders in Moscow on Putin's birthday, Oct. 7. Kazakh state television showed a selection of street interviews in which respondents said the war in Ukraine cast doubt on whether any post-Soviet unity still existed. Its report also highlighted what it called provocative behaviour by Belarusian leader Alexander Lukashenko, widely regarded as Putin's proxy, who interrupted one of Tokayev's speeches.

Palestinian volunteers participate in organising the sixth edition of the Red Carpet Film Festival, at a newly renovated theatre in Gaza City, October 13, 2022. While Gazans have been able to go to movie screenings which are held from time to time at theatres and other venues, such a full bill of films is a rare treat. The festival's executive manager, Montaser Al-Sabe said he was proud of the festival in Gaza but that he hoped cinemas would open up again. "Cinema is a civilised and important means to get the voice of children and the people of Gaza to the world." But for some, the festival will be all about the simple pleasure of going to the cinema and watching a movie with loved ones.

☆ Iran prison fire death toll rises as protests rage
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +4 min

Iran's judiciary said all the victims of the prison blaze had been held in a section of the prison designated for prisoners of robbery-related crimes. Evin also holds political prisoners and many detainees facing security charges, including Iranians with dual nationality. State media reported on Sunday that the first four deaths had been caused by smoke inhalation and that more than 60 had been injured, four of them critically. Iran, which has blamed the violence on enemies at home and abroad, denies security forces have killed protesters. State media said on Saturday at least 26 members of the security forces had been killed by "rioters".

☆ Iran airs video from Evin prison hours after fire, tells Biden to stop interfering
▼ + stars: | 2022-10-16 | by ( Parisa Hafezi | ) www.reuters.com time to read: +4 min

Iran, which has blamed the violence on enemies at home and abroad, deny security forces have killed protesters. The footage of Evin aired on state television showed firefighters inspecting a workshop with fire damage to the roof. State news agency IRNA said on Saturday eight people were injured in the fire at the Evin prison. Video obtained by Reuters showed protesters marching amongst traffic towards Tehran's Evin prison on Saturday night and into Sunday morning. Iran's notorious Evin prison, which holds criminal convicts as well as political detainees, has long been criticised by Western rights groups and was blacklisted by the U.S. government in 2018 for "serious human rights abuses".

☆ Zain Saudi Arabia moves ahead on towers sale to PIF-led group
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Oct 16 (Reuters) - Mobile telecommunications company Zain Saudi Arabia (7030.SE) said on Sunday it had transferred ownership of its unit Zain Business Limited to the Public Investment Fund (PIF), paving the way for the sale of the company's towers infrastructure. PIF has changed the unit's name to the Golden Lattice Investment Company (GLI), a statement posted on the Saudi stock exchange said, which will become the holding company in charge of the sale of Zain KSA's towers infrastructure units. The sale of 8,069 tower assets over to a PIF-led consortium was approved in February, with the deal valued at just over $800 million. As part of the asset purchase agreement, Zain Saudi will receive a cash amount of 2.4 billion riyals and a 20% stake in GLI. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rachna Uppal Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ Volatile sterling surges on reports of potential UK fiscal plan U-turn
▼ + stars: | 2022-10-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

However, the central bank later officially reiterated that its programme of temporary gilt purchases will end on Oct. 14. UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the BoE's Friday deadline. The yen "has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank. Investors were focusing on U.S. core inflation data due later, which is projected at 6.5% year-on-year in September. Minutes from the Federal Reserve's policy meeting last month showed that officials agreed they needed to raise interest rates to a more restrictive level - and then keep them there for some time - to meet their goal of lowering "broad-based and unacceptably high" inflation.

☆ Sterling volatile ahead of BoE deadline, fragile yen tests 1998 low
▼ + stars: | 2022-10-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

LONDON, Oct 13 (Reuters) - Sterling rose on Thursday in volatile trade as investors awaited the impending deadline for the Bank of England to end an emergency bond-buying programme. Sterling was up 0.44% at $1.1147 at 1054 GMT in a volatile week. "We can expect potential market take-up to continue to increase as market participants prepare for the BoE to exit the market. Sterling volatilityElsewhere, the yen struggled against the U.S. dollar trading 0.1% lower at 146.8. Investors were focusing on U.S. core inflation data due later today, which is projected to rise 6.5% year-on-year in September.

A fragile yen languished near a fresh 24-year low, while markets were also on edge ahead of U.S. inflation data due later in the day for possible clues on how much higher the Federal Reserve will push interest rates. On Thursday, BoE saidUK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the BoE's Friday deadline. "We can expect potential market take-up to continue to increase as market participants prepare for the BoE to exit the market. Another currency struggling against the U.S. dollar was the yen , which traded 0.1% lower at 146.8. The yen "has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank.

☆ Merkel: no regrets on energy policy with Russia
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

LISBON, Oct 13 (Reuters) - Former German chancellor Angela Merkel said on Thursday she had no regrets about the course her government took with its energy policy and Russia during her time in power, which critics say left Europe's biggest economy too dependent on Russian gas. Last year, 55% of German gas imports came from Russia, partly the result of Merkel's pursual of trade ties with Russia and backing the controversial Nord Stream 2 pipeline, even after Moscow annexed Crimea in 2014. Former German Chancellor Angela Merkel attends a news conference ahead of the Gulbenkian Foundation award ceremony, in Lisbon, Portugal, October 13, 2022. REUTERS/Pedro NunesHowever, Germany has now delayed these plans read more read more as it scrambles to replace throttled gas deliveries from Russia. This is a turning point," Merkel said in reference to Germany's energy policy.

☆ Iran intensifies crackdown on Kurdish areas as protests rage
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +7 min

Two sources in Sanandaj, capital of Kurdistan province, told Reuters that Basij members, along with riot police, were attacking demonstrators. A witness told Reuters hundreds of riot police and Basij forces have been transferred from other provinces to Kurdistan to confront protesters. "A few days ago some Basij members from Sanandaj and Baneh refused to follow orders and shoot the people," said the witness. In the city of Kermanshah, direct fire from security forces killed two people, Hengaw said. It said a fourth member of the security forces was killed in Mahabad, and firing by security forces killed another person in Sanandaj.

☆ Serious debt crisis unfolding across developing countries - UNDP
▼ + stars: | 2022-10-11 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

LONDON, Oct 11 (Reuters) - The United Nations' Development Programme (UNDP) joined on Tuesday the chorus of institutions and charities warning that a serious debt crisis is now taking hold in the poorest parts of the world. "A serious debt crisis is unfolding across developing economies, and the likelihood of a worsening outlook is high," the report published on Tuesday said. Without effective debt restructuring, poverty will rise and desperately needed investments in climate adaptation and mitigation will not happen. Its proposal was to expand the Common Framework's eligibility so that all heavily indebted countries could utilise it rather just the 70 or so poorest countries, and for any debt payments to be automatically suspended during the process. "Not only have these countries contributed the least to, but bear the highest cost of, climate change".

☆ Iranian journalist who broke news on Mahsa Amini pays heavy price
▼ + stars: | 2022-10-11 | by ( Parisa Hafezi | ) www.reuters.com time to read: +3 min

At least 185 people, including 19 minors, have been killed, hundreds injured and thousands have been arrested by security forces, according to rights groups. The Iranian government says more than 20 security forces have been killed and that it will investigate civilian deaths. PASSIONATE ABOUT WOMEN'S RIGHTSThe Committee to Protect Journalists (CPJ) has called on Iranian authorities to "immediately and unconditionally release ... all journalists arrested because of their coverage of Mahsa Amini’s death and the protests that have followed". It said last month that at least 28 journalists had been detained by the security forces, including Hamedi. Friends of Hamedi described her as a brave journalist who is passionate about women's issues and rights.

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