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Turkish central bank doubles inflation forecast
Turkish central bank doubles inflation forecast
by  AFP

Turkey's central bank more than doubled its year-end inflation forecast to 58 percent on Thursday as its new Wall Street-trained governor vowed to keep raising interest rates after years of controversial policies. The bank nearly doubled its rate last month from 8.5 percent to 15 percent but its following hike was smaller, raising it 17.5 percent.

Oil, gas majors post sliding profits on weaker prices
Oil, gas majors post sliding profits on weaker prices
by  AFP

Shell and other energy majors posted sliding net profits Thursday after oil and gas prices weakened in the first half. Spain's Repsol also posted drops in profits on Thursday, a day after similar results reported by Norwegian state-owned energy company Equinor.

Volkswagen profits dip as it struggles in China
Volkswagen profits dip as it struggles in China
by  AFP

Volkswagen said Thursday its profits slipped in the second quarter as it battles to regain ground in China, the German auto giant's most important market. The auto giant nevertheless struck a positive note about its prospects in the major market, saying it was stepping up the pace of "transformation in China".

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