Energy crisis
Oil Prices Hit 5-Month Highs
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions. This surge is driven by a series of Ukrainian drone attacks on Russian refineries, reported by Reuters.
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Annual increase in home prices eases again
The home prices across Türkiye rose by 68 percent in January annually, easing from the 75.5 percent year-on-year increase in December 2023, data from the Central Bank have shown.
In January 2023, the annual increase in home prices was 153 percent and had even hit 189 percent in September 2022.
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Several countries extend oil cuts to boost prices
Moscow, Riyadh and several other OPEC+ members on Sunday announced extensions to oil production cuts first announced in 2023 as part of an agreement among oil producers to boost prices following economic uncertainty.
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Olive oil price up 50% in EU, 67% in Greece
Greece saw the second-highest increase in the price of olive oil since January 2023, with its 67 percent increase far above the European Union average of 50 percent, data from the EU's statistics arm showed on Tuesday.
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Europe's Energy Evolution: Declining Gas Demand and Renewable Growth
In a recent report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on Wednesday, it was revealed that demand for natural gas in Europe experienced a significant decline last year, dropping to its lowest level in a decade.
Home supply to increase to bring rents under control: Şimşek
Housing supply will be boosted in order to tame increases in rent prices and support the fight against inflation, Treasury and Finance Minister Mehmet Şimşek has said.
Retail sales volume rises 13 percent
The retail sales volume at constant prices rose by 12.8 percent in November from a year ago, with the pace of year-on-year increase slowing from 13.4 percent in the previous month, according to the official data.
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UN offers somber outlook for global economy
The United Nations has issued a somber global economic forecast for 2024, pointing to challenges from escalating conflicts, sluggish global trade, persistently high interest rates and increasing climate disasters.
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Retails sales rise nearly 14 percent in October
The retail sales volume at constant prices increased by 13.7 percent in October from a year ago, the data from the Turkish Statistical Institute (TÜİK) have shown.
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China's exports extend slump in October
China's exports fell at a faster pace than predicted in October, data showed yesterday, as the world's second-largest economy is buffeted by faltering global demand and a sluggish domestic recovery.
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