Economy
Turkey lifts key rate for 5th month in inflation battle
Turkey's central bank sharply lifted its policy rate for the fifth month running on Thursday as part of its politically charged battle against historically high inflation rates. Turkey's official annual inflation rate peaked at 85 percent last October and climbed back up above 60 percent last month.
Siemens Energy seeks state help as wind unit crisis deepens
Siemens Energy said Thursday it was in talks with the German government about receiving financial help as it battles problems in its wind power unit, sending the firm's shares crashing.
Naira makes remarkable recovery in official, black market after FG’s threat to tax parallel market
The Naira made a remarkable recovery in both the official and parallel markets after the Nigerian government threatened black market operators with taxes.
Mercedes profits fall due to lower sales
German carmaker Mercedes-Benz said Thursday that its profits fell in the third quarter due to a drop in vehicle deliveries amid shortages of some parts. Revenue fell 1.4 percent to 37.2 billion euros, partly because passenger car sales were around five percent lower in the quarter due to a shortage of some parts.
"The bleeding has Stopped": Cardoso, new CBN Governor, details gains of subsidy removal
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said Nigeria is now reaping the fruits of subsidy removal as the bleeding of the economy has ended.
"No More N1,210/$:" Naira hits new low in all markets after FG's promise to crash the dollar
The Nigerian naira has again crashed to its lowest at N1,310 per dollar at the parallel market and N847.77 per dollar in the official market on Tuesday.
Stocks slide, oil holds gains on Middle East, economy concerns
Asian stocks sank Thursday, tracking a retreat on Wall Street fuelled by a surge in US Treasuries and worries over a possible escalation of the Middle East crisis, which also helped oil hold the previous day's rally. A plunge in Alphabet and Texas, as well as Amazon ahead of its report later Thursday, hit Wall Street, with the tech-rich Nasdaq tanking more than two percent.
Stellantis to buy stake in Chinese EV start-up Leapmotor
Global carmaker Stellantis said Thursday it will buy a 20 percent stake in Chinese electric car maker Leapmotor, making it the latest European brand seeking a foothold in the country's highly competitive market via partnerships with local manufacturers. Other European manufacturers have also stepped up partnerships with Chinese companies to win over local customers.
ECB set to pause rate hikes as eurozone feels pinch
European Central Bank policymakers are widely expected to leave interest rates unchanged when they meet in Athens on Thursday, as their previous policy moves seemed to be biting. - 'Clear impact' - ECB policymakers were in "watch and see" mode Thursday, Ducrozet said, with new official forecasts only set to be published at the governing council's next meeting in December.
Economy
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