Turkish Economy Likely Outperformed Most Peers at Lira’s Expense

Turkey’s coronavirus-battered economy fared better than most peers in the third quarter, driven by a stimulus campaign that sacrificed the lira and price stability. The $740 billion economy likely outperformed all Group of 20 nations except for China, thanks in part to a combination of interest-rate cuts, fiscal spending and a government-led credit push. Data on Monday will show gross […]

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A Hungarian official compared billionaire George Soros, who is a Holocaust survivor, to Adolf Hitler

A Hungarian government commissioner has been condemned after comparing billionaire George Soros, who is a Holocaust survivor, to Adolf Hitler. In an opinion article published on a pro-government news website, ministerial commissioner Szilard Demeter wrote that Soros was "the liberal Führer" and that Europe was his "gas chamber."  Demeter was writing the article in defense of Hungary and Poland who […]

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Biden Era, Russia Rifts Jolt Turkey Back Toward Ties With West

Turkey is seeking to mend relations with traditional western allies and regional powerhouse Saudi Arabia as rifts with Russia, Joe Biden’s U.S. election victory and the threat of European sanctions force a foreign-policy rethink, people familiar with the discussions said. After he was sworn in with sweeping executive power more than two years ago, President Recep Tayyip Erdogan made a […]

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Worse Than Covid? Risks to U.K. Economy as Brexit Deadline Nears

With the U.K. economy suffering more from the coronavirus than most advanced nations, the stakes couldn’t be higher as Brexit trade negotiations enter their endgame. Gross domestic product will likely be smaller than what it would have been had the U.K. stayed in the European Union regardless of the outcome. But reaching an accord would help avoid major trade disruptions […]

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BOE’s Haldane Says QE Size Challenges Central Bank Independence

The extraordinary expansion in central banks’ balance sheets over the past decade poses a challenge to the independence of monetary policy, Bank of England Chief Economist Andy Haldane said. Underscoring the scale of the BOE’s response to the coronavirus pandemic, Haldane said the size of the institution’s bond holdings will be close to 50% of the U.K.’s economic output and […]

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Rupee settles 3 paise higher at 73.88 against US Dollar

At the interbank forex market, the domestic unit traded in a narrow range as rising COVID-19 cases offset positive sentiments surrounding the progress on the vaccine front. The rupee appreciated 3 paise to close at 73.88 against the US dollar on Thursday, tracking positive domestic equities and sustained foreign fund inflows. At the interbank forex market, the domestic unit traded […]

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