Tag Archives: emerging markets

EMERGING MARKETS – Stocks lower after 2 days of rally, but expected to post weekly gains

Band Susan Mathew Worries over Ukraine pushed emerging market stocks and currencies lower on Friday after strong gains in the past two sessions, while the ruble rallied ahead of the more expected Russian central bank policy decision. late in the day. Japan and Australia imposed sanctions on Russia as peace …

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World Bank official says war-driven oil price hikes will reduce growth of major importers

The Russian-Ukrainian crisis is expected to inflict further setbacks on growth in emerging markets which are already slow to recover from the COVID-19 pandemic WASHINGTON, United States — Persistently high oil prices sparked by Russia’s invasion of Ukraine could shave one percentage point off the growth of major oil-importing developing …

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Russia and World Indices – Goodbye For Now

Summary Russian assets are expelled from global indices as the war continues. Global worries about rising energy prices/inflation persist, but central banks in EMEA/LATAM and Emerging Asia are reacting differently. Russian sanctions The economic and commercial consequences of the Russian military campaign in Ukraine continue to accumulate. increasingly international companies …

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Currencies firm, but rising interest rate risks weigh on emerging market outlook

Feb 7 (Reuters) – Most emerging market currencies rose on Monday, taking support from a stable dollar, although a surprise jump in U.S. jobs data last week bolstered bets for a more aggressive Federal Reserve, casting a pall over the outlook for emerging assets. An index of emerging market currencies …

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Turkish lira slips 5%, eyes on surging inflation

A US dollar banknote is seen next to Turkish lira banknotes in this illustration taken in Istanbul, Turkey on November 23, 2021. REUTERS / Murad Sezer Register now for FREE and unlimited access to Reuters.com Register now ISTANBUL, Jan. 3 (Reuters) – The Turkish lira fell 5% on Monday after …

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Turkish lira posts worst year in 2 decades under Erdogan

ANKARA, Turkey – The Turkish lira has recorded its worst year since President Tayyip Erdogan came to power nearly two decades ago, despite his call on Friday, December 31, for Turks to trust his unorthodox policies of cutting back taxes. interest rates in the face of soaring inflation. The lira …

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Turkish finance minister says US Federal Reserve is owned by five families – Middle East Monitor

Turkey’s Treasury and Finance Minister claimed that the United States Federal Reserve was not owned by the American public but rather belonged to five wealthy families, drawing criticism from economists. In a television interview with CNN Turk news channel yesterday, Nureddin Nebati – appointed by President Recep Tayyip Erdogan in …

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Turkish lira, stocks collapse amid inflation concerns

Istanbul’s stock market was twice forced to halt trading and the Turkish lira continued to decline on Friday as concerns grew that recent interest rate cuts could spur an inflationary spiral. . Turkey’s benchmark Borsa Istanbul 100 fell 8.5% on Friday on its worst day since March, tripping two circuit …

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Mexican Peso Firms 1% After Bank Hikes Rates; Aeromexico dives 50%

Mexican bank raises rates by 50bp Brazil c.bank lowers economic outlook for 2022, signals further increases Argentina’s economy grows 11.9% in the third quarter Dec. 16 (Reuters) – The Mexican peso surged on Thursday as the central bank hiked more than expected in response to rising inflation, while most other …

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Emirates news agency – UAE Minister of State for Financial Affairs meets IFC Managing Director

Wed 15-12-2021 17:15 PM DUBAI, December 15, 2021 (WAM) – Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, today met Makhtar Diop, Managing Director of the International Finance Corporation (IFC) and his accompanying delegation. The meeting, held on the sidelines of Expo 2020 Dubai, aimed to discuss …

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Capital controls, use of reserves unlikely to prevent lira depreciation

The Ankara government has few options available as long as President Recep Tayyip ErdoÄŸan remains committed to lowering borrowing rates to accelerate economic growth and increase exports even under conditions of inflation exceeding 20%, which erodes the disposable income of ordinary citizens. Either the currency crisis becomes severe enough for …

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Pound Crash Hits Turkey’s Factories, Farmers and Retailers | Business and Economy News

Istanbul, Turkey – The Turkish Lira crisis threatens to bankrupt 86-year-old Mehmet Sapci’s pharmaceutical company. With the onset of the coronavirus pandemic, his company – Merkez Ilac – was able to leverage its production lines to pump disinfectants that have been shown to be essential in stopping the spread of …

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EMERGING MARKETS – Most Latam currencies are slipping; the outlook for rate hikes supports the Brazilian real

* The Mexican economy is contracting more than expected * Inflation in Brazil reaches its highest level in almost 20 years * Turkish lira up 0.7%; Holds ground after cenbank minutes * Hungarian forint moves away from all-time lows By Susan Mathew Nov 25 (Reuters) – Latin American currencies lagged …

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Turkish lira pulls back after record lows at start of trade

A bureau de change counts Turkish lira banknotes at a bureau de change in Ankara, Turkey on November 11, 2021. REUTERS / Cagla Gurdogan ISTANBUL, Nov.22 (Reuters) – The Turkish lira strengthened to less than 11.2 per dollar on Monday, after hitting a record high late last week after the …

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Few people dare to follow as Spanish bank BBVA raises bet on Turkey

While Carlos Torres Vila, director of BBVA, explained why the Spanish lender was planning to take full ownership of Turkish bank Garanti, it didn’t always sound like the sales pitch typically deployed for corporate transactions. But then the 55-year-old BBVA chairman could hardly ignore the backdrop of the deal – …

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Turkish opposition calls for snap elections amid pound collapse

ANKARA, Nov. 18 (Reuters) – Turkish opposition leaders called for an immediate snap election on Thursday after the pound plunged 6% to a new low following the central bank’s decision to cut rates on interest under pressure from President Tayyip Erdogan. The pound has seen its worst day since a …

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Emerging market stocks drop for second day

Emerging market equities were under pressure for the second consecutive session, as fears of high global inflation added to fears of a Chinese slowdown and tighter financing conditions in the United States. The emerging FTSE index, a broad barometer of developing country stocks, fell about 1% on Thursday in US …

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bne IntelliNews – Worries that Turkey could face another currency crisis “escalate”, says Capital Economics

Fears that Turkey could face another currency crisis continue to intensify, Capital Economics said on November 16, with the sharp depreciation of the Turkish lira in recent weeks showing little sign of slowing down. “The currency broke through the psychologically important level of 10 / $ at the end of …

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GRAPHIC-Pain Points for Turkish Lira

By Karin Strohecker LONDON, Oct.26 (Reuters) – The Turkish lira enjoyed a rally of relief on Tuesday, moving away from its latest all-time low amid a diplomatic crisis that saw the currency head towards the 10 against the dollar . But the latest rout has put new emphasis on vulnerabilities …

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Turkish lira on the rise after record low

The struggling Turkish Lira hit a record low of 8.96 per dollar last week and trading trends since then indicate that the bears could outweigh traders expecting a rally. The lira touched 8.936 per dollar on Wednesday before recovering. It was trading down 0.1% at 8.875 to the dollar Thursday …

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House of the Year, Japan: Barclays

Japanese market sentiment has been subdued for much of the past year, with investors unsure of how the Covid-19 pandemic would unfold or who the next man in the White House would be. Then, two weeks after the we presidential election, there has been a resumption of investment activity in …

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The economic madness of Turkish Recep Erdogan

Turkish President Recep Erdogan’s pride in his country’s recent interest rate cut recalls the apocryphal story of mother’s pride in her son during a military parade. The source of his pride was that his son was the only one in the parade who, in his mind at least, was marching. …

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World Business Quick Take – Taipei Times

COINS Turkish lira at historic low The Turkish lira fell to near an all-time high yesterday, a day after a surprise rate cut by the Turkish central bank, as broader emerging market currencies headed for their third consecutive weekly loss amid fears the group Chinese Evergrande (恆大 集團) is not …

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Buying property in Turkey: a value trap?

Spending the minimum of USD 250,000 required to obtain Turkish citizenship will allow you to acquire a sizable apartment in Istanbul with a view of the Bosphorus. It sounds like a great place to live, but is it a good investment? When Turkey launched its citizenship by investment program, you …

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Evergrande Fallout mocks emerging markets over Fed

(Bloomberg) – The chorus of emerging market bears intensifies as the China Evergrande group debt crisis turns an already risky week into a minefield. Fidelity International and Nordea Investment expect developing country currencies to weaken further as the real estate giant’s financial saga reveals flaws in China’s growth engine. Citigroup …

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The alcoholic beverages market in Turkey is showing impressive growth thanks to major key players such as TürkTuborgBira ve Malt Sanayii AS, Mey Icki, Elda İçecek

An alcoholic beverage is simply any beverage containing ethanol / ethyl alcohol. Beer, wine, and spirits all begin with a process called fermentation, which is the natural result of the yeasts digestion of sugars in ingredients like fruits, grains, or other starches. Fermentation produces two substances: ethanol and carbon dioxide. …

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The return of the carry trade

July 3, 2021 I F YOU LIKE a central bank that responds to inflation surprises by raising interest rates, and here’s a retro twist, then Banco de México might be the one for you. On June 24, it surprised the markets by increasing its benchmark rate from 4% to 4.25%. …

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Turkish lira climbs 2% to leave record high

Turkish Lira banknotes can be seen in this illustration taken on January 6, 2020. REUTERS / Dado Ruvic / Illustration // File Photo The Turkish lira climbed 2% on Thursday to its highest level in two weeks, boosted by US bond markets and forecasts from Fitch Ratings and Goldman Sachs …

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Type Tantrum 2.0: Beware of TUCKANS

One year after Covid-19 pandemic, the global economy faces a growing risk of a balance of payments crisis. In fact, 2020 has already seen a record seven defaults on the sovereign debt of Argentina, Belize, Ecuador, Lebanon, Zambia and Suriname (which have defaulted twice) . In this context, any new …

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Turkey overtakes G20 in liquidity support amid COVID-19

ANKARA Among the emerging G20 economies, Turkey provided the most liquidity support relative to its GDP in response to the coronavirus pandemic, according to the IMF’s Fiscal Monitor. The spread of the virus, declared a pandemic by the World Health Organization on March 11, 2020, has caused the worst health …

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