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Russian oil price cap under growing scrutiny as prices rise
Russian oil price cap under growing scrutiny as prices rise
by  AFP

When the West rolled out its unprecedented price cap on Russian oil late last year, it hoped to starve Moscow of much-needed revenue while minimising the impact on other countries. Moscow had taken its own steps to soften the impact of the price cap, including before its introduction eight months ago.

Nigerian workers suspend strike over cost of living crisis
Nigerian workers suspend strike over cost of living crisis
by  AFP

Nigerian workers have suspended a nationwide strike over the rising cost of living following the removal of a petrol subsidy scheme, the government and union leaders said Thursday. Under the now-dropped subsidy scheme, the government covered the difference between the cost of import and prices at the pump.

Turkish inflation ticks up in July at 47.83 percent
Turkish inflation ticks up in July at 47.83 percent
by  AFP

Turkey's annual inflation climbed in July to 47.83 percent, up sharply from 38.2 percent, official data showed on Thursday, a week after the central bank more than doubled its year-end forecast. Last week, the central bank revised its year-end inflation forecast to 58 percent from 22.3 percent after years of doubts from independent economists about the official rate.

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