The future of Turkish banks seems to be uncertain and challenging according to Hakan Aran, the chief executive of Isbank, Turkey’s largest private bank. Aran predicts that challenges will continue throughout 2025 due to the economic turnaround in the country. These challenges are expected to impact various aspects of the banking sector, including net interest
Economy
The recent arrest of Pavel Durov, the CEO of Telegram, at the Bourget airport outside Paris has sparked widespread discussion and controversy surrounding the popular messaging app. Durov, a billionaire founder of Telegram, was targeted by an arrest warrant in France as part of a preliminary police investigation. Reports suggest that the investigation was centered
The arrest of Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, at the Bourget airport outside Paris has caused shockwaves in the tech world. Durov, a Russian-born entrepreneur, is no stranger to controversy. He is the mastermind behind Telegram, a messaging platform that competes with giants like Facebook’s WhatsApp, Instagram,
Prime Minister Keir Starmer is set to address the nation and prepare them for the difficulties ahead. He acknowledges that fixing the numerous problems facing Britain will not be an easy task and that “things will get worse before we get better.” This speech is seen as an opportunity for Starmer to be honest and
Brazil’s central bank chief, Roberto Campos Neto, recently addressed the issue of market volatility and its potential implications. He noted that the current volatility may indicate that the market is adjusting to the possibility of limited fiscal and monetary intervention in the future. This observation suggests a shift in investor sentiment and expectations regarding policy
Wall Street’s stock indexes saw a significant surge on Friday, with the S&P 500 index edging closer to a record high. Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic conference played a pivotal role in this rally. Powell’s indication towards an imminent interest rate reduction due to risks in the job market
Canada’s economy is facing a potential crisis due to the rail stoppage that began on Thursday, which could result in significant economic losses if it continues for an extended period of time. Economists and analysts have raised concerns about the negative impact that a prolonged rail strike could have on Canada’s GDP, job market, and
The dollar slipped to its lowest point this year against the euro, sparking concern among traders about potential revisions to U.S. payrolls data. The anticipated speech by Federal Reserve Chair Jerome Powell is also adding to the unease in the market. The downward trend of the U.S. currency is evident as it dipped below the
The unfortunate incident in Sicily involving the sinking of the luxury yacht “Bayesian” has left a trail of devastation, claiming the life of one person on board and leaving six others missing. Among the missing individuals is British tech entrepreneur Mike Lynch and his daughter, as well as prominent figures like Jonathan Bloomer and Chris
With all eyes on Federal Reserve Chair Jerome Powell’s upcoming speech, the global market is holding its breath in anticipation of his remarks. Investor confidence is high, as many are expecting dovish rhetoric from Powell, which has led to a positive outlook for stocks in the coming days. Asian shares have already reached a one-month
The recent economic figures coming out of China have put immense pressure on Beijing to take action in order to revive the economy. With a growth target of roughly 5% in mind for this year, the world’s second-largest economy is struggling to gain momentum after a disappointing second quarter. Various economic indicators such as falling
The recently submitted 2025 budget plan by Indonesia’s outgoing government highlights a commitment to fiscal prudence, aiming for a narrower deficit compared to the current year. This proposal, with a total worth of 3,613.1 trillion rupiah ($230 billion), projects a deficit of 2.53% of GDP for the next year, which is lower than the expected