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From live Christmas trees to its annual Black Friday smorgasbord, Amazon is trying to cover all the bases this holiday season. And it hasn’t forgotten Thanksgiving. Once again, it’s offering select Turkey deals through November 22 at Whole Foods. An organic bird for your annual feast will set you back $ 3.49/lb, while an antibiotic-free […]
Another torrid week for the peso and lira
Keep an eye on foreign funding and bad loans
THE first YouTube video, posted in 2005, showed the site’s 25-year-old co-founder standing in front of elephants at the San Diego zoo. One of its most recent videos is a little different: it shows Argentina’s president, Mauricio Macri, explaining why he needs the IMF to stand in front of the bears destroying his country’s currency. […]
IN 1546 Girolamo Fracastoro, a doctor and poet, published an elegant theory of contagion. Infections spread in three ways, he argued: by direct contact, via an intermediary, or at a distance, through the air. In medicine, his theory is now considered quaint. In economics, however, it still works pretty well. On August 10th President Donald […]
Turkey’s banking system is chock full of foreign currency debt to companies. Borrowers who took out loans in U.S. dollars and euros will see the value of their payment obligations skyrocket in lira terms. A slowing economy will also intensify the pain.
The Central Bank of the Republic of Turkey (TCMB) has outlined a range of measures to bolster liquidity and support the financial system. The lira plunged as much as 10 per cent during the Asian markets trading session after a fall of 25 per cent against the US dollar last week — moves that rattled […]
You might not want to count on hailing an Uber car in Istanbul any time soon. Turkish President Recep Tayyip Erdogan has claimed at a Ramadan dinner that the ridesharing outfit’s business is “over” in the country, with the interior ministry reportedly giving “the orders.” Uber currently runs under a license that costs much less […]
THE baroque era in Turkish architecture lasted deep into the 19th century, leaving behind lavish buildings, such as the Lily Mosque in Istanbul and waterside pavilions that seem to float on the Bosphorus. The baroque period in Turkish monetary policy will last until June 1st, when the central bank will simplify its equally ornate monetary-policy […]
