Turkey’s central bank has raised the country’s key interest rate from 8.5% to 15%, almost doubling it, as the newly re-elected President Recep Tayyip Erdogan’s new economic administration embarked on a dramatic monetary policy U-turn. The bank has stated that there will be further gradual monetary tightening until the inflation picture in the country improves.
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Following the announcement of a surprise increase in the interest rate to 5% and inflation remaining at 8.7%, UK Prime Minister Rishi Sunak has pledged to reduce both the Bank of England’s base rate and price growth. Sunak, who previously served as Chancellor of the Exchequer, has sought to demonstrate his financial expertise and attention
Disney wrapped up the CineEurope event in Barcelona with a presentation of 17 upcoming films. Tony Chambers, Head of Global Theatrical Distribution, began by thanking exhibition for the success of “Avatar: The Way of Water.” James Cameron, the filmmaker behind the Avatar franchise, also sent a message thanking the audience for their partnership and support.
The National Collegiate Athletic Association (NCAA) has suspended Memphis coach Penny Hardaway for three games due to recruiting violations and violating head-coach responsibility rules. The NCAA’s infractions panel made the announcement on Wednesday, stating that the violations are linked to the two in-home visits held in 2021 with a recruit from the high school class
A clinical trial conducted at the Cleveland Clinic Center in Ohio has shown that not fixating the mesh in open retromuscular ventral hernia repair (RVHR) is noninferior to fixation. The study, which was conducted on 325 patients, found that hernia recurrence rates at 1 year were similar between the transfascial suture fixation group and the
San Francisco City Attorney David Chiu has sent a letter to the US News & World Report, requesting information on the magazine’s hospital rankings. The letter also called for the publication to “publicly disclose the payments it receives from the hospitals it endorses, as required by federal regulations.” The move comes at a time when
Senate Democrats have criticized Supreme Court Justice Samuel Alito for not disclosing a private jet trip as a gift. Alito flew on a private jet owned by hedge-fund billionaire Paul Singer to travel with Singer on a luxury fishing excursion. Six years after that 2008 trip, Alito ruled in favor of an arm of Singer’s
According to the Ericsson Mobility Report, India’s 5G subscription is estimated to reach about 10 million by the end of 2022, and is projected to account for about 57 percent of mobile subscriptions in the country by the end of 2028. This makes India the fastest growing 5G region globally. The launch of 5G services
Gravitas Ventures has recently announced its acquisition of the North American rights to Fourth Grade, a comedy movie featuring William Baldwin, Teri Polo, Mena Suvari, and Ben Begley. The movie is set to be released in theaters and on demand in around 10 markets on July 14. The film is written and directed by Marcelo
The U.S. Department of Agriculture (USDA) has given its approval for the sale of cell-cultured chicken, also known as cultivated, cell-based or lab-grown protein, in a landmark decision that paves the way for consumers to try it out themselves. This decision comes after the U.S. Food and Drug Administration (FDA) granted approval to the startups,