Economy

Business circles welcome rate hike decision

Leaders of business associations have welcomed the Central Bank's move to hike its policy rate sharply by 650 basis points, calling it a step taken toward ensuring price and financial stability.

The Central Bank on June 22 increased its one-week repo auction rate from 8.5 percent to 15 percent. This has been the first rake hike since March 2021.

Thefts from UK convenience stores surge to record level

Theft from convenience stores in the U.K. reached record levels last year, according to a trade body, blaming criminal gangs and a cost-of-living crisis.

The Association of Convenience Stores (ACS), which represents 48,000 stores, said there were more than 1.1 million incidents in the last 12 months.

‘University fees should be in line with inflation rates’

Türkiye's Higher Education Board (YÖK) head Erol Özvar has advised foundation universities to make inflation rates a top priority when determining fees.

Speaking to the press in Ankara, Özvar stated that they expect foundation universities to take into account the increase in rates in previous years.

Flying blind

The "self-exclusion" by debtors who are formally entitled to support but refuse it so that the protection of the privacy of their banking transactions will not be lifted is a serious indication that the state is in no position to properly plan any social support policies.

Borrowers will not share data

Two in every three borrowers who reached the penultimate step before the final submission of their application to join the mortgage installment subsidy program have canceled it on their own initiative, as a result of which the number of beneficiaries is only 4,527 to date.

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