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Turkey surprises with huge interest rate hike
Turkey surprises with huge interest rate hike
by  AFP

Turkey's central bank on Thursday delivered a huge surprise by raising the interest rate to 25 percent as part of a transition from President Recep Tayyip Erdogan's era of unorthodox economics. Erdogan fired one central banker four months into his attempts to interest raise rates in late 2020 and early 2021.

BRICS announces 'historic' admission of six new members
BRICS announces 'historic' admission of six new members
by  AFP

BRICS leaders announced on Thursday the "historic" admission of six new countries from next year as the club of large and populous emerging economies seeks to reshape the global order. The bloc is a disparate mix of big and small economies, democratic and authoritarian states, and the candidates seeking membership and those admitted to the club also reflect this variety.

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