Turkey Inc’s zombie side frustrates latest push for credit boom

Istanbul Turkey may have the wrong cure for what really ails its economy. President Recep Tayyip Erdogan’s government has rolled out measures to break credit bottlenecks still holding back growth after recession, in the hope of generating the kind of spark that produced double-digit economic leaps only a few years ago. But this time is […]

Bulgaria’s Kristalina Georgieva to replace Christine Lagarde as head of the International Monetary Fund

Sofia For many economies that drift into stormy seas, the first port of call is the International Monetary Fund. Soon, and for the first time in its history, the lender’s head will hail from the ranks of those it’s rescued. Kristalina Georgieva is an economist from Bulgaria, which was bailed out in 1997 amid hyperinflation […]

Mega deals expected as EuroTier Middle East kicks off in Abu Dhabi

Abu Dhabi: Europe’s biggest livestock trade fair officially opened in Abu Dhabi on Monday as part of the inaugural EuroTier Middle East. Multimillion dirham deals expected to be signed over the next three days, involving both government and private institutions within the livestock industry. Taking place at the Abu Dhabi National Exhibition Centre until September […]

Return to capital controls sends Argentina assets tumbling

Buenos Aires: Argentina’s international dollar and euro-denominated bonds fell to record lows on Monday while its financial stocks tumbled and risk premiums shot up after President Mauricio Macri reimposed capital controls on Sunday as the country’s debt crisis spirals. The about-face by Macri, who had previously reversed many protectionist practices of his predecessor, Cristina Fernandez […]

India manufacturing growth at 15-month low in August — PMI

Mumbai: Expansion in India’s manufacturing sector hit its slowest in 15 months in August as demand and output grew at their weakest pace in a year and cost pressures increased, a private sector survey showed on Monday. The survey comes after official figures showed India’s economy grew at an annual rate of 5.0 per cent […]