Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty Images Turkey’s newly appointed central bank governor, Fatih Karahan, has his work cut out for him, after being named to the job by presidential decree over the weekend following the sudden … Read more
A tram passes shoppers as it travels along Istiklal Street in the Beyoglu district of Istanbul, Turkey, on Tuesday, Dec. 19, 2023. Bloomberg | Bloomberg | Getty Images In January, Turkish inflation logged its biggest monthly jump since August with a 6.7% rise from December, while year-on-year inflation hit nearly 65%, according to the Turkish … Read more
VIENNA, AUSTRIA – NOVEMBER 25, 2022: Karin Teigl is seen wearing Hermès yellow leather mini Kelly, Baum & Pferdgarten green leather jacket, Lumina beige cropped turtleneck sweater and vintage checked green yellow pants. Jeremy Moeller | Getty Images Quiet luxury was one of last year’s biggest viral fashion trends on social media — but unlike … Read more
Saudi Arabia’s first alcohol store has opened in the diplomatic quarter of its capital Riyadh, accessible to non-Muslim diplomats. While it only affects a select group, it’s a big change for the highly conservative Muslim kingdom, where alcohol has been banned since 1952 after a Saudi prince murdered a British diplomat in a drunken rage. … Read more
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images Turkey’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 with economists’ expectations. … Read more
Spirits on display in a UK bar in Cardiff, United Kingdom. Matthew Horwood | Getty Images News | Getty Images Saudi Arabia has opened its first alcohol store in the diplomatic quarter of its capital Riyadh, two sources told CNBC. The news, which has not been officially confirmed by the Saudi government, marks a major … Read more
Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Hedge fund billionaire Bill Ackman and his wife Neri Oxman are buying a nearly 5% stake in the Tel Aviv Stock Exchange, the bourse reported in a press release Wednesday. The announcement came as the Israeli exchange announced the pricing of … Read more
DUBAI, United Arab Emirates — Within 24 hours, Iran launched missile and drone strikes on targets in three countries — Iraq, Syria and Pakistan — and took the extraordinary step of announcing its responsibility for the attacks, triggering anger from its neighbors. The developments have heightened concerns over the possibility of a wider Middle East … Read more
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 trillion, according to Saudi Mineral Resources … Read more
Houthi military helicopter flies over the Galaxy Leader cargo ship in the Red Sea in this photo released on Nov. 20, 2023. Houthi Military Media | Via Reuters Drone and missile attacks by Yemen-based Houthi militants have upended shipping through the Red Sea and Suez Canal, a narrow waterway through which some 10% of the … Read more