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Soaring inflation and a collapsing currency affecting Turkey’s economy
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Soaring inflation and a collapsing currency affecting Turkey’s economy

ISTANBUL — Runaway inflation and a collapsing lira are pushing millions of Turks to the brink of financial ruin and slamming factories, farmers and retailers across the country. More than two-thirds of people in Turkey are struggling to pay for food and cover their rent, according to a survey by Yöneylem Social Research Centre, fueling...

Dubai Chamber for Digital Economy launches new training academy to immerse digital startups in metaverse
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Dubai Chamber for Digital Economy launches new training academy to immerse digital startups in metaverse

DUBAI, 5th October, 2022 (WAM) — Dubai Chamber of Digital Economy, one of three chambers operating under Dubai Chambers, in collaboration with the SEE Institute, has launched the “Future of the Digital Economy: Business in the Metaverse” Academy, the first-of-its-kind specialised training programme designed to equip digital startups with practical knowledge and tools they need...

Spain’s Economy Minister raises 2022 GDP growth target to 4.4% By Reuters
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Spain’s Economy Minister raises 2022 GDP growth target to 4.4% By Reuters

© Reuters. FILE PHOTO: Spanish Economy Minister Nadia Calvino arrives at a Eurozone finance ministers meeting in Brussels, Belgium March 14, 2022. REUTERS/Yves Herman/File Photo MADRID (Reuters) -Spain’s Economy Minister Nadia Calvino on Monday raised the government’s gross domestic product growth outlook for 2022 to 4.4%, from a previous expectation of 4.3%. “In line with...

UK economy grew in Q2 but was below pre-pandemic size By Reuters
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UK economy grew in Q2 but was below pre-pandemic size By Reuters

© Reuters. FILE PHOTO: Food items are displayed for sale at a market stall in Sunderland, Britain, September 28, 2022. REUTERS/Lee Smith/File Photo LONDON (Reuters) – Britain’s economy grew in the second quarter but was still below its pre-pandemic peak, contrary to earlier estimates that it had recovered, according to official data which also showed...

Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed $6.7 Billion in 83 Days – Altcoins Bitcoin News
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Stablecoin Economy Continues to Deflate — USDC’s Market Cap Shed $6.7 Billion in 83 Days – Altcoins Bitcoin News

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto...

Bank of England takes emergency action to stabilize UK economy, after earlier IMF warning
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Bank of England takes emergency action to stabilize UK economy, after earlier IMF warning

LONDON — The Bank of England has stepped in to stabilize financial markets after the British government’s tax-cutting plans caused economic chaos. In an emergency intervention, the central bank warned of a “material risk to UK financial stability” if market dysfunction continued. It came after the IMF urged the UK government to rethink its fiscal...

Ministry of Economy announces metaverse HQ at Dubai Metaverse Assembly
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Ministry of Economy announces metaverse HQ at Dubai Metaverse Assembly

DUBAI, 28th September, 2022 (WAM) — Abdulla bin Touq Al Marri, UAE Minister of Economy, launched the Ministry’s headquarters in the metaverse today at the Dubai Metaverse Assembly, organised by Dubai Future Foundation (DFF). Addressing more than 500 delegates and 40 global companies including Accenture, Emirates, PwC, Microsoft, Meta, and Binance, Bin Touq said that...

White House’s Deese says strong dollar reflects strength of U.S. economy By Reuters
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White House’s Deese says strong dollar reflects strength of U.S. economy By Reuters

© Reuters. FILE PHOTO: White House economic adviser Brian Deese speaks during a press briefing at the White House in Washington, U.S., March 31, 2022. REUTERS/Kevin Lamarque WASHINGTON (Reuters) – Now more than ever, the strength of the U.S. dollar reflects the relative strength of the U.S. economy, White House economic adviser Brian Deese told...

Volkswagen, Umicore venture shows the circular EV battery economy is heating up
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Volkswagen, Umicore venture shows the circular EV battery economy is heating up

Volkswagen is partnering with a Belgian technology group to produce battery materials in Europe, the latest in a spate of industry-wide deals to create a circular battery economy that can meet that can meet production targets as automakers shift toward EVs. The $3 billion joint venture between Volkswagen Group’s battery business PowerCo and Brussels-based Umicore...