Banking and Finance

Turkish lira remains volatile after surprise dip in inflation data

Turkey’s annual inflation unexpectedly dropped to 16.59% in May, according to data published Thursday. The news did not steady the nation’s currency, which slid on market concerns over an early interest rate cut.

Turkey’s lira hits record low again

The currency’s drop followed comments made by President Erdogan about lowering interest rates.

Israel could get own digital coin

Joining the global race, the Bank of Israel presented last week the model it recommends for the digital shekel coin.

Rifts plague Libya’s central bank

Although a new unity government was formed in Libya, ending years of division in state institutions, conflicts still plague some financial institutions that control the country's economy, namely the central bank.

Turkey bans cryptocurrency payments

The Turkish Central Bank said cryptocurrencies like Bitcoin are too risky and forbade their use in the country.

Syria’s Assad fires central bank chief amid currency failures

Israel’s first digital bank now rolling

Israel’s first digital bank wants to create a revolution in the banking sectors, much like Spotify revolutionized the music industry and Tesla the vehicle market.

Turkish markets rattled after surprise firing of central bank head

Turkey’s lira and main stock index slid about 9% Monday as markets reacted to the surprise removal of the nation’s central bank chief amid broader political turmoil.

Turkish Central Bank holds interest rate steady

As forecasted, Turkey’s Central Bank policymakers held a key interest rate steady Thursday, saying they would continue working to reel in the nation’s double-digit inflation.

Cash-strapped Turkey relies on Qatari investments

In only five years, Qatar has come to account for 15% of all foreign direct investments in Turkey, second only to deep-rooted Dutch investors.