Economy

The annual inflation was near 18% last month

The British island, located off the coast of France, has no capital gains or inheritance tax

The economic confidence index gained 2.1 percent in May from April to stand at 96.7, the Turkish Statistical Institute (TÜİK) said on May 26.

Any index figure above the 100-threshold indicates optimism.

The index declined for three consecutive months between February and April.

The Turkish Central Bank on May 26 kept its main interest rate unchanged for a fifth month.

In a statement following a Monetary Policy Committee meeting, the bank said it was keeping its policy rate "constant" at 14 percent.

Turkey, Economy, Interest Rates,

Government policies on top of skyrocketing inflation have only sent real estate prices in Turkey even higher, experts say, leaving many ordinary Turks locked out.

The Covid pandemic has created a new billionaire every 30 hours and now one million people could fall into extreme poverty at the same pace, Oxfam said Monday as the Davos summit returns.

Papoutsanis pre-tax profits increased by 46% to 1.1 million euros in the first quarter of 2022, while turnover amounted to 14.9 million euros, an increase of 45% compared to the first quarter of 2021. Profits after taxes amounted to 0.8 million euros compared to 0.5 million euros in the corresponding period of 2021, showing an improvement of 40%.

Nigerian airlines are to suspend all flights from today over rising jet fuel prices, an umbrella organisation of operators have said.    

The cost of fuel has soared worldwide since Russia invaded its neighbour Ukraine in February and the West responded by slapping sanctions on Moscow.    

The embargo against Russia is considered one of the factors behind high food prices

Treasury and Finance Minister Nureddin Nebati has reiterated the government's commitment to bring inflation under control and take necessary steps.