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Inflation-hit Turkey cuts rate for second month
Inflation-hit Turkey cuts rate for second month
Business and Economy
by  AFP

Turkey's central bank on Thursday cut its policy rate for the second straight month despite an annual inflation rate that has reached 80 percent and is still moving higher. "The Turkish central bank's policy rate really has little real meaning these days, given inflation at 80 percent plus," said BlueBay Asset Management analyst Timothy Ash.

Guinea junta slams W.Africa bloc chief's transition 'lies'
Guinea junta slams W.Africa bloc chief's transition 'lies'
Africa
by  AFP

Guinea's ruling military junta on Thursday accused the president of the West African regional bloc ECOWAS of "lies" over his call for sanctions on Conakry if it seeks a three-year transition back to civilian rule. - Regional instability and coups - The West Africa bloc has been struggling with a string of military coups in the region in the past two years.

Erdogan emerges a key mediator in Ukraine war
Erdogan emerges a key mediator in Ukraine war
World
by  AFP

A mysterious reference on US television to an imminent Russia-Ukraine prisoner swap highlights Turkish President Recep Tayyip Erdogan's unique role as mediator and friend of both sides in time of war.

Viktor Medvedchuk: Putin's man in Ukraine exchanged for prisoners
Viktor Medvedchuk: Putin's man in Ukraine exchanged for prisoners
World
by  AFP

Ukrainian tycoon Viktor Medvedchuk, one of 56 prisoners handed over to Russia on Wednesday in exchange for 215 imprisoned soldiers, was seen as President Vladimir Putin's top ally in Kyiv and defended the Kremlin's interests for years. And Ukrainian President Volodymyr Zelensky suggested swapping Medvedchuk for captured Ukrainian soldiers -- although the idea was dismissed by Moscow.

Iran protests pose new test for clerical leadership
Iran protests pose new test for clerical leadership
World
by  AFP

Women setting their headscarves ablaze and chanting anti-regime slogans. The protests have featured chants of "death to the dictator" as well as other anti-regime slogans and the emergence of a new rallying cry, "Zan, zendegi, azadi" ("Woman, life, freedom").

Bank of England hikes rate again as UK enters recession
Bank of England hikes rate again as UK enters recession
Business and Economy
by  AFP

The Bank of England hiked its interest rate again on Thursday to combat soaring inflation as it warned that the UK's economy had already slipped into recession. Central banks have responded by increasing their rates, fanning recession fears because they push up loan repayments for consumers and companies alike, thereby exacerbating the UK's cost-of-living crisis.