Author: Anadolu Agency

Türkiye’s Central Bank on Friday raised its year-end inflation forecast for 2024, 2025 and 2026. Annual consumer inflation is projected to reach 44% this year, from the previous forecast of 38%, Governor Fatih Karahan told a meeting held to release the bank’s fourth and last inflation report of this year. The year-end inflation forecast for 2025 raised to 21%, up 7 percentage points from the previous report. “We foresee that inflation will decline to 12% in 2026,” Karahan said, adding that inflation is targeted to stabilize at 5% in the medium term. The previous projection for 2026 was 9%. Falling…

Egypt’s trade relations with Türkiye are “very robust and balanced,” reflecting a healthy economic partnership between the two countries, according to Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib. Egypt and Türkiye “have highly diversified exports, which strengthen their trade relationship,” Khatib said in an interview with Anadolu. “Türkiye is the first export destination to Egypt globally and Egypt is one of Türkiye’s most significant trade partners in Africa, while Türkiye is the top export destination for Egyptian goods,” he added. Khatib landed in Türkiye on Monday to attend the opening session of the 40th Ministerial Conference for Trade…

Türkiye’s benchmark stock index BIST 100 opened Thursday at 8.873,32 points, up 0.12% or 11 points from the previous close. On Wednesday, the BIST 100 index rose 2.83% to 8,862.32 points, with a daily transaction volume of 98 billion Turkish liras ($2.86 billion). As of 10.15 a.m. (0715GMT), exchange rates stood at 34.2310 for the US dollar against Turkish lira, 36.8550 for the euro, and 44.3100 for the British pound. The price of one ounce of gold was $2,662, and Brent crude oil traded at $74.80 per barrel.

Fans from Galatasaray unveiled a giant ‘Free Palestine’ banner Thursday during a UEFA Europa League match. Fans displayed banners that read: “Free Palestine”, “Palestinian Genocide” and “Let Gaza Babies Live” behind one of the goals, showing solidarity with Palestine. Paris Saint-Germain fans also unfurled banners supporting Palestine during a UEFA Champions League match Wednesday against Atletico Madrid. Israel has continued a devastating offensive on Gaza since an attack by the Palestinian resistance group, Hamas, on Oct. 7, 2023. The ensuing onslaught has killed nearly 43,500 victims and rendered the enclave almost uninhabitable. Israel faces a genocide case at the International…

Republican Donald Trump was elected the 47th president of the U.S. on Wednesday and he is likely to adopt expansionary fiscal policies, such as tax cuts and increased spending on infrastructure, Sank Manukyan, international markets specialist at IS Investment, told Anadolu. Manukyan stated that some movement in futures started before the Fed’s rate cut, and this gained further momentum. He noted that the premium in bond yields increased, which signals that inflation uncertainties persist, and the concerns that the two presidential candidates would not act responsibly on budget deficits, the movement in bond markets further increased. He added that all…

The electric vehicle giant Tesla’s shares posted a significant increase following Donald Trump’s election victory on Wednesday. As of GMT1640, the price of the firm’s shares was up by around 13.3% to $284.7. Trump is expected to implement additional tariffs on imported goods, including electric vehicles (EVs), particularly from China. This situation will strengthen the dominance of Tesla in the U.S. EV market. Elon Musk, owner of the firm, was one of the biggest supporters of Trump during the election process.

U.S. stocks closed with gains on Tuesday amid the ongoing U.S. presidential elections. The Dow Jones industrial average rose 427.28 points, or 1.02%, to finish the day at 42,221.88. The S&P 500 added 70.07 points, or 1.23%, to reach 5,782.76. The Nasdaq also increased 259.19 points, or 1.43%, to end at 18,439.17. The VIX volatility index, referred to as the “fear index,” fell 6.78% to 20.49. The U.S. dollar index slipped 0.45% to 103.42, while the EUR/USD exchange rate was stable. Precious metals were in positive territory. Gold earned 0.27% to $2,743.99 per ounce and silver rose by 0.62% to…

Turkish Treasury and Finance Minister Mehmet Simsek will pay a visit to China to attend several high-level meetings this week. As part of his official visit to the capital Beijing, Simsek will first attend the joint working group meeting on Nov. 6 to discuss the harmonization of the Middle Corridor Initiative and the Belt and Road Initiative, according to information obtained by Anadolu. The Memorandum of Understanding (MoU) on the Harmonization of the Silk Road Economic Belt, the 21st Century Maritime Silk Road, and the Middle Corridor Initiative was signed in the Turkish Mediterranean resort city of Antalya in 2015.…

The price of Bitcoin is fluctuating as the world’s largest economy, the US, has finally reached what promises to be a pivotal Election Day. During the last 24-hour period, the price of the largest cryptocurrency saw a low of $66,803.65 and a high of $69,201.57. It was at $73,500 level a week ago, and lost around 7% in the seven-day period to the $68,900 level currently as of GMT0900 Tuesday. If Republican candidate Donald Trump wins Tuesday’s presidential race, the market expects positive developments for cryptocurrencies, as he pledged that the US will be the “crypto capital” of the planet.…

Arsenal sporting director Edu Gaspar resigned from his position at the club, the English Premier League side confirmed on Monday. “This was an incredibly hard decision to make. Arsenal has given me the opportunity to work with so many amazing people and the chance to be a part of something so special in the club’s history,” Edu said in a statement. “It has been a special journey and I thank Stan, Josh, Tim, and Lord Harris for the support they’ve given me,” he added. The former Arsenal player returned to the club as technical director in July 2019. In November…