Jeju Air crash probe: working engine may have been shut off
Investigators say Jeju Air pilots may have shut down the less-damaged engine after a bird strike during the December crash. This action is being exami...
The European Bank for Reconstruction and Development (EBRD) expects Türkiye’s economy to grow by 2.8% in 2025, a downgrade from its February 2025 forecast, due to weaker domestic and external demand and a tighter-than-expected monetary policy.
The Bank expects the Turkish economy to grow by 3.5% in 2026, unchanged from its previous forecast.
The projections have been published today in the Bank’s Regional Economic Prospects report, which revised the EBRD’s aggregate 2025 growth forecast for its regions of operation down by 0.2% to 3%. The downgrade reflects heightened global policy uncertainty, weaker external demand, and both the direct and indirect effects of recently announced increases in import tariffs, the report reads.
"Türkiye’s downward revision reflects expectations of tighter domestic financial conditions as heightened uncertainty weighs on domestic demand, as well as weakening external demand due to increased uncertainty around global trade policy. Downside risks stem from still-high inflation and the impact of tighter-for-longer global financial conditions on Türkiye’s substantial short-term external financing needs," - EBRD says in statement.
The report notes recent improvements in the economy’s external position, with net exports rising and the current account deficit declining steadily in the 12 months to February 2025. However, inflows of foreign direct investment (FDI) remained relatively low at $12.2 billion (€10.8 billion).
The EBRD invested a record €2.6 billion in Türkiye in 2024, driven by the private sector’s appetite for green investments and the Bank’s continuing support for regions affected by the February 2023 earthquakes.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
The IMF has approved a $625 million loan program for Chad to support economic growth and social spending amid regional and economic challenges.
Volkswagen cut its 2025 forecast after U.S. tariffs slashed €1.3 billion from profits, but strong EV demand and European sales offer signs of recovery.
Saudi Arabia announced $6.4 billion of investments in Syria on Thursday, reflecting the kingdom's deepening ties with interim President Ahmed al-Sharaa's government as it seeks to rebuild Syria after a 14-year civil war.
The Central Bank of Azerbaijan has reduced the refinancing rate from 7.25% to 7%, the interest rate corridor floor from 6.25% to 6%, and the ceiling from 8.25% to 8%.
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