Emerging markets
BRICS: How an acronym from Goldman Sachs morphed into a strategic financial bloc
BRICS — that means Brazil, Russia, India, China and South Africa — is extensively regarded as the pillar of rising economies. And other nations want in. The BRICS financial bloc is produced up of five of the world’s biggest emerging economies: Brazil, Russia, India, China and South Africa. The acronym started out as “BRIC” in […]
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Saudi Arabia and Gulf neighbors threaten Netflix in excess of material that ‘violates Islamic values’
Jakub Porzycki | Nurphoto | Getty Photos Saudi Arabia and five other Gulf Arab international locations issued a joint assertion demanding that Netflix take away content material they say “violates Islamic and societal values and concepts,” Saudi media has reported. The assertion mentioned that the streaming giant’s content was in breach of government regulations, while […]
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Turkey’s skyrocketing inflation is flashing warning alerts for Gulf financial institutions
Normal watch of Emirates NBD Bank on January 3, 2017 in Dubai, United Arab Emirates. Tom Dulat | Getty Images DUBAI, United Arab Emirates — Banks with exposure to Turkey have confronted losses ever considering that the country’s forex commenced steeply depreciating in 2018 now, creditors in several oil-abundant Gulf states in unique are established to […]
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An Iran nuclear deal revival could considerably alter oil selling prices — if it comes about
A gas flare on an oil output system is found alongside an Iranian flag in the Gulf. Raheb Homavandi | Reuters The return of the Iran nuclear deal could be imminent — and with it, the return of a whole lot of oil to worldwide crude marketplaces. Just before the U.S. resumed sanctions on Iran […]
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Iraq’s highly effective Sadr says he quits politics, protests escalate
Iraqi populist chief Muqtada al-Sadr delivers a televised speech in Najaf, Iraq August 3, 2022. Alaa Al-marjani | Reuters Iraq’s impressive Shi’ite Muslim cleric Moqtada al-Sadr mentioned on Monday he was quitting politics and closing his establishments in response to an intractable political deadlock, sparking protests by his followers and increasing fears of a lot […]
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Shootouts and blasts erupt in Libyan funds
Intensive combating erupted in the Libyan cash overnight and lasted into Saturday morning, with rival factions exchanging significant gunfire and the sounds of many loud blasts ricocheting all around the metropolis. The clashes took area in Tripoli’s city center right after 1 of the capital’s strongest teams assaulted the foundation of a rival drive, witnesses […]
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Sri Lanka protesters, angered by economic meltdown, storm president’s house
People wait in a queue after receiving tokens to buy petrol due to fuel shortage, amid the country’s economic crisis, in Colombo, Sri Lanka, June 27, 2022. Dinuka Liyanawatte | Reuters Thousands of protesters in Sri Lanka’s commercial capital Colombo stormed the president’s official residence and his secretariat on Saturday amid months of mounting public […]
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Villas by the sea: Rich Russians fleeing sanctions are pumping up Dubai’s property sector
Dubai is seeing its hottest real estate market in years, with sales in the sector up 45% year on year in April and 51% in May, according to the Dubai Land Department. DUBAI, United Arab Emirates – The team at Dubai property firm Mira Estate have reason to celebrate. The luxury real estate company just […]
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Turkey’s annual inflation soars to almost 79%
Shoppers stroll the aisles of a bazaar in Konya, Turkey. The country is experiencing brutal inflation, with food and non-alcoholic beverage prices rising 70.3% year over year for March. Diego Cupolo | Nurphoto | Getty Images Inflation in Turkey rose close to 79% last month, the highest the country has seen in a quarter of […]
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Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies
A money changer holds Turkish lira and U.S. dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it […]
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