People shop at a fruit market in Ankara, Turkey. Agence France-Presse
Turkey’s central bank raised its year-end inflation forecast on Thursday to 12.2 per cent from 9.4 per cent, in part due to pressure from lira depreciation, and its new governor said tight policy would be maintained until price pressures decline.
Turkey’s lira hit a record low on Friday as concerns over global inflation, an early election and a possible ratings downgrade marked the latest milestone in a years-long depreciation that has dogged the big emerging market economy.
Turkey’s consumer inflation fell to its lowest level in a year in June thanks to a high so-called base effect and a drop in food prices, potentially paving the way for the country’s first interest rate cut since last year’s currency crisis.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday met Audrey Azoulay,
The Republic of Gabon on Monday agreed a landmark agreement at Expo 2020 Dubai to promote trade, investments and economic cooperation between African state and the Republic of India.
The total value of UAE’s non-oil trade over the past 50 years stood at Dhs18.3 trillion ($5 trillion), including Dhs11.8 trillion in imports, Dhs2.2 trillion in non-oil exports,