Turkish inflation rose year-on-year in June to a 23-year high of 78.62%, its acceleration for the 13th consecutive month boosted by the weakness of the local currency (the Turkish lira) and the negative effects of Russia's military invasion of Ukraine, which are expressed in a continued strong increase in the prices of raw materials.
Ljubljana – The government adopted on Friday a draft bill on the forms of alternative investment funds that envisages three forms and two types of funds. The long-awaited bill, with which the state wants to strengthen the capital market, is one of the milestones for the payment of the first instalment from the Covid recovery mechanism.
Finding the right monetary policy response to tackle soaring inflation is an "art," European Central Bank President Christine Lagarde has said.
"It is not a science," Lagarde said on June 29 at a panel at the ECB's annual central banking conference in Portugal.
"What we are doing there is an element of art," she said.
For the first time since 1918, Russia has failed to repay its government debt in foreign currency, according to Bloomberg.
For months, Russia has wavered on the brink of default, today is the culmination of the financial battle that the United States and other countries are waging against the Kremlin over the invasion of Ukraine.
Latsco Hellenic Holdings (the family office of Marianna Latsi) and Orasis (the fund of George Elliott) will invest about 25 million euros in Dimand as cornerstone investors, acquiring a total of 8.92% of the company after the increase of share capital and while the company will now be listed on the Stock Exchange.