Joe Biden

With President Recep Tayyip Erdoğan reelected for another five-year term after securing a victory in the historic May 28 runoff election, the new cabinet will consist of young and dynamic people, presidential spokesperson İbrahim Kalın has said.

Turkish President Tayyip Erdogan will speak by phone with US President Joe Biden on Monday evening, private broadcaster NTV quoted presidential spokesperson Ibrahim Kalin as saying.

Biden on Sunday congratulated Erdogan on winning the second round in Turkey's presidential election. [Reuters]

The reviews are starting to come in as details emerge about the debt ceiling agreement reached by President Joe Biden and House Speaker Kevin McCarthy.

Even before seeing those details, some lawmakers were criticizing the deal as not doing enough to tackle the nation's debt, while others worried it's too austere and will harm many low-income Americans.

Leaders from across the globe took to social media to extend their congratulations to Recep Tayyip Erdoğan as he secured his reelection in the presidential runoff election.

US President Joe Biden and Speaker of the House of Representatives Kevin McCarthy have reached an agreement in principle on the thorny issue of the debt ceiling, world agencies reported, citing Kevin McCarthy. This is a key stage in avoiding a US default.

President Joe Biden and House Speaker Kevin McCarthy reached an "agreement in principle" to raise the nation's legal debt ceiling, but now Congress must rush to approve the spending cuts package in a matter of days to avert a potentially disastrous U.S. default.

President Joe Biden said Friday that Democratic and Republican negotiators were on the verge of resolving a debt ceiling standoff, as the deadline for a potentially catastrophic US default was pushed back to June 5.

"It's very close and I'm optimistic," Biden told reporters at the White House. "I'm hopeful we'll know by tonight whether we're going to be able to have a deal."

Eurozone government bond yields were headed for a weekly rise as robust economic data and hawkish remarks by central bank officials triggered some upward repricing in market bets about future European Central Bank rate hikes.

President Joe Biden and House Speaker Kevin McCarthy both said they had a productive debt ceiling discussion late Monday at the White House, but there was no agreement as negotiators strained to raise the nation's borrowing limit in time to avert a potentially chaotic federal default.

The International Energy Agency (IEA) will guide nations in their energy and climate policies and lay out a road map, IEA Executive Director Fatih Birol has said.

Birol addressed leaders who gathered for the 49th G7 Summit in Hiroshima, Japan, last week.