Tuesday, September 13 2011 , Your time is 15:58:00
Oil and commodity price falls have helped bring down inflation expectations in Turkey, a Central Bank survey showed on Dec. 19, although economists expect no immediate interest rate cuts.
ISTANBUL - Reuters
Turkey’s economic and political institutions have always been part of a “sultan’s state” and this can only be overcome by public demands from below for more human rights, freedom and transparency, according to leading economist Daron Acemoğlu.
The Turkish Lira recovered Dec. 17 after the Central Bank reassured the market that monetary tightening would continue until inflation improves.
Amid international economic sanctions that have pounded Russia increasingly hard, Moscow is focusing its efforts on diversifying its energy-based economy with the help of innovation that brings not only commercial promises but also many existential paradoxes
Russia stepped up its defense of the ruble Dec. 17 as it sought to halt a run on the currency and stem the worst financial crisis of President Vladimir Putin’s 15 years in power.
The government has announced an additional set of macro-economic reforms, with Prime Minister Ahmet Davutoğlu putting particular emphasis on the need to reduce public expenditures
The European Union has agreed rules to stamp out tax evasion and stop dirty money from criminal gangs or terrorism finance being channeled through anonymous companies.
ANTALYA / MOSCOW
Turkish agriculture sector producers, who had raised their hopes of taking a larger share in the Russian market, are now paying the price of advanced sales in the ruble
ISTANBUL – Agence France-Presse
The lira hit a record low of 2.41 lira to the dollar, worse than Monday's record low of 2.39 lira to the dollar.
Russian President Vladimir Putin says that Western sanctions have been an important factor in the current economic crisis, but not the only one
MOSCOW - Agence France-Presse
The rapid slide of the ruble is a "critical situation" and the Russian central bank will take additional measures soon, the bank's first deputy chairman Sergei Shvetsov said Dec. 16.
The ruble rallied in early trading Dec. 18 ahead of President Vladimir Putin's eagerly-awaited annual press-conference, where he is expected to give his views on the financial crisis rocking Russia.
SINGAPORE - Reuters
Brent crude oil prices fell over $1 per barrel and below $60 for the first time since July 2009 in early European trading today as Chinese factory activity slowed and stumbling emerging market currencies dented demand expectations.
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