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Fake Binance billboards in Turkey spread fake messages
... deeper into the Turkish market. The Turkish criptocurrency exchange BtcTurk is about to be bought by Coinbase , which is rumoured to be worth $3.2 billion. The popularity of cryptocurrencies in the country has increased thanks to the depreciating Turkish lira, high inflation and interest rate cuts. Last year, Turkey's central bank imposed a ban on cryptocurrencies for goods and services: Their use in payments may cause non-recoverable losses for the parties and include elements that could undermine the ...
Updated: 05/11/2022
Dabur India shares fall 1% after Q4 results below previous low
... cent lower at Rs 503.15 , compared to a 0.5 per cent rise in the S&P BSE Sensex at 12: 03 pm. The company posted exceptional items of Rs 85 crore during the quarter, due to the impairment of goodwill of Turkey business due to the steep devaluation of Turkish Lira. In Q 4 of FY 21 the company had a net profit of 377 crore. The revenue from operations rose 7.74 per cent to Rs 2,518 crore during the quarter under review, as opposed to Rs 2,337 crore in the year-ago period. The operating margin contracted by ...
Updated: 05/10/2022
Turkish woman unable to afford childcare due to soaring inflation
... was unable to afford childcare. She told the BBC that unemployment benefits in Turkey are so low that they don't meet my baby's monthly diaper needs. I'm looking for small jobs that can be done online. It's not possible to live on a salary of 5,000 Turkish liras, while the rents are 3,000 -- 4,000 Turkish liras. Tuba said she had to buy cheaper nappies for her baby and change them less often while their food costs have gone up. Jason Tuvey , emerging markets economist at Capital Economics , said there ...
Updated: 05/09/2022
Turkey's inflation rises to 69.97 pct in April
... commodity prices, according to data released on Thursday. Turkey's annual inflation rose to 69.97 percent in April, mainly due to Russia's invasion of Ukraine and rising energy and commodity prices, according to data released on Thursday. The crash of the Turkish lira last year resulted in a 500 basis point interest rate easing cycle, which began last September under pressure from President Tayyip Erdogan and has resulted in a sustained surge in consumer prices. Consumer prices rose 7.25 percent month-on-month,...
Updated: 05/07/2022
Turkish inflation hits two-decade high
... blamed for a fire under inflation. Consumer prices rose 7.25% month-on-month, compared to a Reuters poll of 6%, according to the Turkish Statistical Institute . Consumer price inflation was predicted to be 68% by the end of the year. It's about food and energy ... ..., according to the data. Food and non-alcoholic drink prices went up 13.38% month-on-month, and house prices rose 7.43%. The lira fell by 0.9% to 14.8525 against the dollar after the release of the data. Presidential and parliamentary elections are due ...
Updated: 05/05/2022
Turkey's inflation woes worsened
... up 89.1%, while the furnishings and household equipment increased by 77.64%. Turkey has seen a collapse in the value of the lira, as President Tayyip Erdogan prioritizes exports over currency stability. He has described interest rates as the mother ... ... of evil, and has used more unorthodox policy to try to dampen prices, including intervening in foreign exchange markets. The Turkish president overhauled the country's central bank leadership last year, and the bank has slashed rates to 14% from 19% since ...
Updated: 05/05/2022
Turkey to offer 4% stake in currency to foreigners
... outflows. It has used similar measures to shore up the currency at home by rolling out state-backed deposit accounts that protect savers from lira weakness. After a currency crisis in 2018, Turkey put restrictions on foreign transactions to protect the lira, putting limits on swaps with local banks to deter short sellers. Foreign holdings of Turkish stocks and bonds have fallen to a historic low because of the fact that they are close to a historic low. The U.S. Federal Reserve has made the world's most negative interest rates more vulnerable at a time of deeper trade imbalances and the world's ...
Updated: 04/28/2022
Coinbase eyes Turkey’s biggest crypto exchange
... was still performing due diligence checks. It's no surprise that Coinbase is eager to capture more of the Turkish market. Thousands of Turkish citizens have been inspired to invest in cryptocurrencies during the epidemic because of the depreciating Turkish lira. In the last year, Turkey had more than a million criptocurrency trades a day, and billboards and ads for crypto are everywhere in the country. Turan Sert , an adviser for Paribu, Turkey's biggest online exchange, told Al Jazeera that it was about ...
Updated: 04/23/2022
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