Fiala: Czech Republic will remain democratic and west-aligned
Czech Prime Minister Petr Fiala on Saturday (October 4) acknowledged defeat in the parliamentary elections to billionaire Andrej Babiš’s ANO party,...
The currency swap agreement signed between the central banks of Türkiye and the United Arab Emirates (UAE) is set to strengthen Türkiye’s digital banking sector and attract fresh investment from the Gulf.
Signed on Thursday, the deal includes three agreements between the Central Bank of Türkiye (CBRT) and the Central Bank of the UAE (CBUAE). It establishes a bilateral swap between the Turkish lira and the UAE dirham, promotes the use of national currencies in cross-border transactions, and integrates the two countries’ payment and messaging systems. The swap has a nominal value of 198 billion Turkish lira ($4.7 billion) and 18 billion dirhams ($4.9 billion).
Economists say the agreement will accelerate the adoption of digital banking in Türkiye and further integrate its financial sector into the global system. İsmet Demirkol, an economist at Istanbul’s Bahçeşehir University and founder of consultancy firm Pariterium, noted that the deal is likely to attract investment in digital technologies and banking innovation. He added that future swap agreements could also encourage investments in green energy, including wind, solar, and hydrogen.
Filiz Eryılmaz, associate professor of economics at Bursa Uludağ University, said the swap would bolster the CBRT’s foreign exchange reserves and support financial stability.
Experts highlight that the deal is a positive step for both trade and capital flows, facilitating greater Gulf investment into Türkiye.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
Shein is opening its first permanent physical stores in France, starting in Paris and expanding to five more cities. The fast-fashion giant aims to test brick-and-mortar retail in one of the world’s most influential fashion markets.
Tesla sales hit a record 497,099 vehicles in Q3 as buyers rushed before the U.S. tax credit expired according to reports. Despite the surge, experts warn the gains may not last amid rising competition.
American soybean farmers are struggling as China, once their largest buyer, shifts purchases to Argentina amid trade tensions and export incentives.
U.S.-based aviation company Boeing is preparing to produce a new narrow-body, single-aisle aircraft to replace its 737 Max model, sources report.
The Organization of Petroleum exporting countries OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said sources familiar with the talks.
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