Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe decreased significantly during the summer, but increased in several other destinations, including Turkey (here). Onur Dogeman | soba pictures | Light Rocket | Getty Images Turkey’s central bank surprised markets once again with its decision on Thursday to cut its key interest rate, despite the country’s inflation soaring … Read more

High inflation in Turkey warns of more losses for Gulf banks

A general view of Emirates NBD on January 3, 2017 in Dubai, United Arab Emirates. Tom Dolat | Getty Images Dubai, United Arab Emirates – Banks dealing with Turkey have faced losses since the country’s currency began to decline sharply in 2018; Now, lenders in many of the oil-rich Gulf states in particular are set … Read more