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
Investors are increasingly looking to emerging market exchange-traded funds for growth at a reasonable price. David Mann, head of capital markets at Franklin Templeton, named India as one of the most popular countries with ETF investors in the past year. “Part of the growth story, GDP has been strong,” he told CNBC’s “ETF Edge” on … Read more
A Puma SE sportswear store in central London, UK, on Thursday, Oct. 19, 2023. Bloomberg | Bloomberg | Getty Images German sports retailer Puma on Wednesday said Argentina’s major devaluation of its currency in December hit its financial results. Puma shares were 7.3% lower at midday in London, at the bottom of Europe’s Stoxx 600 … 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 exchange reported in a press release Wednesday. The announcement came as the Israeli bourse announced the pricing of … Read more
Amir Yaron, governor of the Bank of Israel, speaks during an interest rates news conference in Jerusalem, Israel, on Monday, Nov. 27, 2023. Kobi Wolf | Bloomberg | Getty Images The immediate ban on nearly all Palestinian workers to enter Israel following the Hamas-led terror attack of Oct. 7 has dealt a shock to the … 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
Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and a surge in expat demand, particularly from Russia in the wake of the start of Moscow’s full-scale war with Ukraine. Some of Dubai’s luxury developments cater specifically to Russian buyers, with … Read more
Vanishing Turkish Currency: 1 Turkish Lira with the Portrait of Kemal AtatürkTurkish Manuel Augusto Moreno | Moment | Getty Images The Turkish lira hit a fresh record low against the U.S. dollar on Thursday, trading at 30.005 to the greenback just before noon local time. It marks the first time that the lira has broken … 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
/cdn.vox-cdn.com/uploads/chorus_asset/file/25438628/Climeworks__Mammoth_plant__unveiling.jpg)
