Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, … Read more

Why Iranian women are cutting their hair

Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Sign up here. Abu Dhabi, UAE CNN  —  A weeping Iranian woman is seen kneeling by her dead brother’s coffin as she slashes through her hair with a pair of … Read more

‘Hostile narrative’: Turkey slams Greek PM’s UN remarks | News

Ankara accuses Athens of distorting facts after Greek PM says Turkey is undermining regional peace and stability. Turkey has condemned remarks by Greek Prime Minister Kyriakos Mitsotakis who accused Ankara of undermining peace and stability in the Eastern Mediterranean region and playing a “destabilising role”. Long-existing tensions between the two countries have flared up recently. … Read more

Russian men join exodus, fearing call-up to fight in Ukraine

ISTANBUL (AP) — Military-aged men fled Russia in droves Friday, filling planes and causing traffic jams at border crossings to avoid being rounded up to fight in Ukraine following the Kremlin’s partial military mobilization. Queues stretching for 10 kilometers (6 miles) formed on a road leading to the southern border with Georgia, according to Yandex … Read more

Turkey cuts interest rates again despite 80% inflation

Russians tourists to Europe decreased dramatically over the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa Images | Lightrocket | Getty Images Turkey’s central bank surprised markets once again with its decision Thursday to cut its key interest rate, despite inflation in the country surging beyond 80%. The country’s … Read more

Turkey cuts interest rates again as country struggles under inflation

Russians tourists to Europe decreased dramatically over the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa Images | Lightrocket | Getty Images Turkey’s central bank surprised markets once again with its decision Thursday to cut its key interest rate, despite inflation in the country surging beyond 80%. The country’s … Read more

Investors brace for possible rate cut amid Turkey’s 80% inflation

An electronic board displays exchange rate information at a currency exchange bureau in Istanbul, Turkey, on Monday, Aug. 29, 2022. Nicole Tung | Bloomberg | Getty Images The Turkish lira hit a new record low on Thursday, trading at 18.377 against the dollar at 11:30 a.m. in Istanbul and continuing its downward slide of more … Read more