Runaway inflation soars to new highs in Turkey

As the Turkish economy continues to spiral, President Erdogan has pushed to bolster ties with all possible allies

Inflation shoots up to 24-year high in Turkey

The inflation of the Turkish lira accelerated for 16 consecutive months, increasing 3.25 percent between August and September this year

Inflation battle – OPEC+ cuts production levels to boost oil prices

OPEC+ nations want to reduce oil output to compensate for high inflation and fears over a global economic recession

Turkey hikes energy costs as inflation soars

The Turkish president’s controversial economic policies have contributed the country’s deteriorating economy

Turkey’s annual inflation closes in on 80 percent

The highest price hikes in June were in the transport sector, with prices soaring by 123 percent within a year

Inflation in Turkey jumps past 70 percent, hitting 24-year high

An unorthodox economic policy based on sharp interest rate cuts has seen skyrocketing prices of transportation and food

Inflation in Turkey approaches 70 percent in April

A unions confederation calculated that food prices increased by eight percent in April alone in the capital Ankara

Turkey inflation reaches 61 percent amid soaring energy prices

The conflict in Ukraine has caused a surge in global commodity prices, threatening Turkey’s latest economic program which aims to achieve account surplus

Annual inflation rate of Lebanon sees triple digit increase

Inflation has severely affected the average citizen, with Lebanon now facing looming food shortages

Inflation in Turkey hits 20-year high amid Ukraine crisis concerns

Experts believe inflation could reach as high as 70 percent before the end of the year

Erdogan fires statistics agency chief after publishing actual inflation rate

Turkey's critical currency crisis has caused Erdogan to change a number of high-ranking officials in his administration

For crisis-hit Lebanon, it’s IMF or bust: Washington

Despite claims of wanting to help Lebanon, the US continues to block the implementation of a vital energy-sharing plan with Jordan and Egypt

Major Turkish opposition party will not participate in upcoming elections

The HDP is Turkiye's third largest party in the national parliament, and reportedly has support from over 10 percent of the country's population

Erdogan behind 10 points ahead of May election: Polls

According to a poll conducted by Aksoy Research, the main opposition bloc is ahead with 43.5 percent, while Erdogan's AKP and the nationalist MHP is at just 37.8 percent

Israeli startups tumble in wake of Silicon Valley Bank collapse

The SVB collapse is considered the second biggest bank collapse in US history, and particularly affects start-up companies in California and Israel

Israel set to export food to Egypt as part of new trade agreement

This agreement was established as Egypt faces a decline in its national currency and food shortages

Washington gives secret bailout to companies accused of war crimes in West Asia

US lawmakers secretly added a provision to the 2023 defense budget that will allow weapons makers to unilaterally hike the price of Pentagon contracts

Russia MOEX exchange begins trading in Turkish lira

The MOEX Russia Index is the main ruble-denominated benchmark of the Russian stock market

UN calls for $4.3bn of humanitarian aid for Yemen

Over 33 million people in Yemen are in desperate need of humanitarian aid

Turkish central bank taps into foreign reserves to stabilize currency

Turkiye continues sales of foreign currency reserves to stabilize the lira and combat inflation in the wake of the devastating 6 February earthquake

US judge blocks 9/11 victims from seizing billions of Afghanistan’s foreign reserves

Since 2021, the White House has blocked war-torn Afghanistan from accessing its own foreign reserves frozen in the Federal Bank of New York

Amid Turkiye’s rubble lies Erdogan’s political fate

The full impact of the recent earthquake that hit both Turkiye and Syria has yet to be fully assessed, but the Turkish Republic has already sustained significant damage that could have long-lasting political effects.

Turkiye could face $84bn worth of earthquake damage: Report

As Ankara was already battling runaway inflation and a devaluating currency, the government now has to account for billions in reconstruction and relief efforts ahead of crucial elections in May

Iran’s revolution at 44: A struggling economy with big potential

Forty-four years on from the Islamic Revolution, Iran boasts a more diversified economy, advances in technology, and major development milestones - despite decades of western sanctions aimed at hindering such progress.

Syria under the American whip: Sanctions that kill

The western sanctions weapon is not new to Syria, but since 2019 it has become a lethal one, destroying entire Syrian sectors and killing its people.

Turkish general election rescheduled from June to May

Over the past two years, the Turkish government’s popularity has decreased due to controversial economic policies and a surge in inflation

What prompted the urgent, secretive summit in Abu Dhabi?

Key Arab heads of state convened this week for an emergency meeting that excluded the Saudis and Kuwaitis. The likely hot topics under discussion were Egypt's economic collapse and Israel's aggressive escalations.

Global South: Gold-backed currencies to replace the US dollar

The adoption of commodity-backed currencies by the Global South could upend the US dollar’s dominance and level the playing field in international trade.

Can western intel agencies spy on Hezbollah via crypto?

Although branded as a safe and secure mode of transaction, cryptocurrency networks are still vulnerable to hacking. In sanctions-hit and economic crisis-ridden Lebanon, this poses an existential threat to all Lebanese.

Russia overtakes Iraq as India’s leading oil supplier

Since the start of the war in Ukraine, India has become the primary outlet for seaborne oil cargoes