Global debt remained above pre-pandemic levels in 2021 even after posting its steepest decline in 70 years, underscoring the challenges for policymakers.
In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.
Following the flotation, enterprise chair Hanzade Dogan Boyner became a billionaire, but that status did not last long.
Solar is set to overtake coal as the world’s leading source of power supply by early 2025, the IEA said
Russian exports of coal have soared to fresh highs after the EU softened sanctions on European shipping companies, allowing them to carry goods worldwide shortly after a ban was imposed in August as part of the fifth package of sanctions.
Exporters’ association head also warns that if Turkey maintains a brake on lira depreciation, then the “exports side and the production side comes to a halt”.
Russia has been eagerly pushing for the further development of Turkey as a “gas hub” for its gas supplies to Europe. Analysts are asking if this simply a ruse to dodge sanctions and surreptitiously continue to export gas to EU members.
An oil tanker traffic jam has formed off the Turkish coast after the EU’s introduction of a price cap on global Russian crude supplies, the Financial Times reported on December 5. Turkish authorities are demanding new proof of full insurance cover.
The global inflation crisis paired with lacklustre economic growth and an outlook clouded by uncertainties have led to a decline in real wages around the world, a new report published by the International Labour Organization (ILO) has found.
ENAG inflation research group says it fell to 171% from 185%.
Professor also says she expects Iran to carry out land operation in Iraqi Kurdistan.
Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.
Analyst says pre-election pressure could arise for more monetary easing.
Erdogan says ground offensive is next. Kurdish groups accuse Ankara of using Istanbul bombing as pretext for military incursion.
The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.
Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.
The vision for me of the weekend opening of the World Cup in Qatar was of Turkish President Erdogan warmly welcoming his Egyptian counterpart, Sisi. The two have long been rivals and have very different visions of democracy in the region.
COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.
Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.
Russia’s imports crashed after the invasion of Ukraine in February as Western trade partners simply cut supplies to the country off while around 1,000 firms promised to pull out altogether. Now they are recovering fast.