Turkey’s industrial output up in April

Turkey's calendar-adjusted industrial production jumped 66 percent in April compared to the same month of last year, the country’s statistical authority announced on June 11. The improvement with the base effect was especially backed by the sub-index...

Is This The Most Exciting Oil Play Of The Last 20 Years?

By Chris Davey The African nation of Namibia has never produced a barrel of oil in its history. Now, for the second time in less than two months, it’s received positive signs that it could be...

Turkey’s inflation to fall to 12% next year: Fitch Ratings

Inflation in Turkey is estimated to decline to 15.5% this year and 12% next year, the global rating agency Fitch Ratings said on June 10. Interest rate is expected to be 17% at the end of 2021 and 13.5%...

Turkey’s retail sales volume up 42% in April

Turkey's retail sales volume, a marker of growing consumer spending, surged 41.7% year-on-year in April with base effect amid the coronavirus pandemic, according to official data revealed on June 11. Excluding automotive fuel, non-food sales soared 74.6%,...

Canada’s Terra Nova Oilfield Rescue In Jeopardy

By Julianne Geiger The talks between the government of Newfoundland and Labrador and Suncor Energy designed to saving the troubled Terra Nova oilfield have collapsed, with the province declining to take a financial interest in the...

Bank regulators plan capital rule for bitcoin

Major economies including China and the US have signaled in recent weeks a tougher approach on bitcoin. (Shutterstock) https://arab.news/j4tpa-Reuters Crypto assets could increase risk to global financial stability if capital requirements are not met LONDON: Banks...

Oil trims gains, but heads for third weekly rise on demand recovery

https://www.reuters.com-Sonali Paul Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford Oil prices slipped on Friday but were set for their third weekly rise on expectations for a recovery in fuel...

Reopening U.S. economy heat up inflation; labor market recovery gaining traction

https://www.reuters.com-Lucia Mutikani Britni Mann speaks with a potential employer during a job fair at Hembree Park in Roswell, Georgia, U.S. May 13, 2021. REUTERS/Chris Aluka Berry U.S. consumer prices rose solidly in May, leading to the...

Analysis: Hotter inflation fails to shake U.S. markets out of torpor, with Fed in...

https://www.reuters.com-Karen Pierog Federal Reserve Board building is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis Investors are not freaking out over a spike in U.S. inflation in the past two months, showing confidence that the...

IMF Says Lebanon’s Dollar-Deposit Plan Risks Higher Inflation

https://www.bloomberg.com-By Eric Martin and Dana Khraiche People wait to use ATMs outside a closed bank in Beirut, on June 2.Photographer: Hassan Ammar/AP Photo The International Monetary Fund said the Lebanese central bank’s decision allowing dollar depositors...

Libya’s Oil Production Drops By 200,000 Bpd

By Charles Kennedy Libya’s crude oil production has declined by more than 200,000 barrels per day (bpd) in recent days, or by almost 20 percent, on the back of pipeline leaks and maintenance at the biggest...

Oil Investors Shrug Off EV ‘Revolution’

By Alex Kimani EVs can "eat into traditional market share for liquid fuels," but that's largely a "developed economy, or rich country issue at this point." — Dean Foreman, American Petroleum Institute. Over the past few years, the...

The Iran Nuclear Deal Won’t Happen Any Time Soon

By Cyril Widdershoven Global oil markets have been on edge recently due to the continuing JCPOA discussions and the possibility of the U.S. rejoining the deal. While there have been no real breakthroughs in...

These EV Stocks Could Explode Higher This Summer

By Natalie Catley It doesn’t matter how you look at it, the electric vehicle revolution is only going to continue in 2021. President Biden has already committed to spending $174 billion on boosting the electric vehicle market. Every...

Canada’s Oil Industry Optimistic As Prices Rebound

By Tsvetana Paraskova Canada’s oil and gas sector is growing increasingly optimistic about its near-term future as economies recover and oil prices rally. Yet, the industry faces growing challenges in the medium and long term, mainly...

TC Energy Cancels Critical Keystone XL Pipeline

By Julianne Geiger The Keystone XL pipeline project’s owner, TC Energy, said on Wednesday that it has terminated the controversial pipeline project that would have served as a lifeline to Canadian oilsands producers looking for more takeaway...

Turkish unemployment rate climbs to nine-month high

Unemployment in Turkey increased to the highest level since July last year, according to official data published on Thursday. The jobless rate rose to 13.9 percent in April from 13 percent in March, the Turkish...

World Bank revises Turkey growth forecast upwards

The World Bank has raised its growth projection for the Turkish economy by 0.5 percentage points to 5 percent for 2021. “In Turkey, following three years of subdued growth amid recurring financial market pressures...

New ‘Turcorns’ on the way: Minister

Turkey aims to become a major player in advanced technologies and aims to have new “Turcorn” companies, Technology Minister Mustafa Varank has said. Privately held startup companies valued at over $1 billion are named “unicorn,” and “Turcorn” refers to...

GameStop taps Amazon executive as CEO

by ASSOCIATED PRESS- A person walks past a GameStop store in Manhattan, New York City, New York, U.S., Jan. 29, 2021. (Reuters File Photo) GameStop, the video-game retailer that upended Wall Street this year,...