Business and Economy

Business and Economy Latest News

Turkish inflation hits two-decade high of 78.6%
Turkish inflation hits two-decade high of 78.6%
by  AFP

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released Monday -- as President Recep Tayyip Erdogan's unconventional economic policies continued to take their toll.

Stocks fluctuate as traders fret over recession
Stocks fluctuate as traders fret over recession
by  AFP

Markets swung Monday as traders fret over a possible recession caused by central bank interest rate hikes aimed at fighting soaring inflation. The European Central Bank is due to lift rates this month for the first time in more than a decade.

Chinese developer Shimao misses $1 bn bond payment
Chinese developer Shimao misses $1 bn bond payment
by  AFP

Chinese developer Shimao Group said it has failed to make payment on a $1 billion bond that matured Sunday, one of the biggest such defaults so far this year in the country's troubled property sector. It was China's 14th biggest developer by contracted sales last year, according to Bloomberg News.

Energy

Money

Industry

Technology

Economy