Turkeyâs Central Banker to Weigh Up Inflation After Lira Slump
Apr 29 2021, 1:53 PM
April 29 2021, 9:30 AM
April 29 2021, 1:53 PM
(Bloomberg)
(Bloomberg)
Turkeyâs new central bank Governor Sahap Kavcioglu is expected to raise inflation forecasts on Thursday after his appointment unleashed a slide in the lira, exposing his limited room to deliver interest-rate cuts sought by the president.
In his first public policy presentation, Kavcioglu will update the bankâs base-case scenario for prices through the rest of 2021 and the following two years, and answer questions from economists and the media.
Enver Erkan, chief economist at Istanbul-based Tera Yatirim, said âa serious upward revision is neededâ as the current inflation estimate of 9.4% at year-end had âlost touch with reality.â The governorâs comments could reveal the extent of future monetary easing, Erkan said, and a forecast below 14% for this year âmay be seen as dovish
DUBAI: Uber users in Saudi Arabia will soon be able to book rides up to 30 days in advance and reserve cars for an hour or more at a time, the company announced on Wednesday. As part of a wide range of new product launches, the Californian ride-hailing app has launched the Uber Reserve function, allowing customers to give up to 30 days’ notice of ride reservations.
LONDON: French security services will be given new powers to monitor online activity in search of potential terrorists, under a new law endorsed by the government. The bill, the latest in a series of draft laws aimed at cracking down on online terrorist activity, will give security services the power to track communications sent on encrypted channels. Police will also employ
Block Energy counts on Georgian growth
Apr 29, 2021 1:35:pm
Summary
by: William Powell
Block Energy is looking forward to a year of drilling in Georgia, following the transaction with oilfield services company Schlumberger in November 2020, the AIM-listed company s CEO Paul Haywood tells NGW in an interview. The explorer’s share price has met stubborn resistance at £3 since March, but with a fully-funded drilling campaign ahead of it and with stronger commodity prices, this year could see a turnaround in its fortunes.
The transformation.
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CAIRO: Egypt has signed a contract to construct the largest petrochemical complex in Africa and the Middle East, at an investment cost of $7.5 billion.
A statement by the Egyptian Cabinet said that the complex, which will be built by the government-owned Red Sea National Refining and Petrochemical Company, will be located in the Ain Sokhna Industrial Zone of the Suez Canal Economic Zone.
The aim is to establish an industrial complex for refining and producing a range of petroleum and chemical products with added value such as polyethylene, polypropylene, polyester, bunker fuel.
The project is built over an area of 3.56 million square meters.