Business

Oil down as China releases fuel from reserves

By Anadolu Agency Investors to focus on whether major oil producers will change output policy amid global energy crisis at Thursday’s OPEC+ meeting Oil prices declined on Monday with the easing of the global supply crisis after China announced the sale of its gasoline and diesel reserves. International benchmark Brent crude was trading at $83.45

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Biden tells Erdogan US and Turkey must avoid crises

President Joe Biden meets with Turkish President Recep Tayyip Erdogan during the G20 leaders summit, Sunday, Oct. 31, 2021, in Rome. (AP Photo/Evan Vucci) By Associated Press ROME (AP) — President Joe Biden told Turkish President Recep Tayyip Erdogan on Sunday that their countries must better manage disagreements after the partnership between NATO allies was

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Facebook changes name to Meta as it refocuses on virtual reality

People pose for a photo in front of a sign of Meta, the new name for the company formerly known as Facebook, at its headquarters in Menlo Park, California, U.S. October 28, 2021. REUTERS/Nathan Frandino By Reuters Facebook Inc (FB.O) is now called Meta, the company said on Thursday, in a rebrand that focuses on

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Tax rises and inflation to squeeze UK living standards, think tanks warn

A person stands on the London Bridge during the morning rush hour in London, Britain, October 4, 2021. REUTERS/Henry Nicholls Reuters By David Milliken Higher inflation and rising taxes to fund healthcare and other public services will cause living standards in Britain to continue stagnating over the years ahead, economic policy analysts said on Thursday.

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US should deliver F-35s Ankara paid for, or return money: Turkey

By Anadolu Agency Foreign Minister Cavusoglu says Turkey will consider buying Russian SU-35, SU-57 if US does not want to resolve issue about F-35 fighter jets The US should either deliver the F-35 fighter jets that Turkey paid for or return the money, or give another product instead, the Turkish foreign minister said Thursday. “If

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UK Treasury chief hails economic rebound from pandemic

Britain’s Chancellor of the Exchequer Rishi Sunak holds up the traditional ministerial red dispatch box as he leaves for the House of Commons to deliver the Budget in London, Wednesday, Oct. 27, 2021. (AP Photo/Alastair Grant) By Associated Press LONDON (AP) — Britain’s Treasury chief Rishi Sunak is painting a relatively rosy picture of the

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Pakistan accuses US of trying to derail China economic corridor project

By Anadolu Agency Pakistan has accused the US of colluding with its longtime rival India to sabotage the multibillion-dollar China Pakistan Economic Corridor (CPEC) project. The rare direct charge came from the head of the local CPEC authority, Khalid Mansoor, who is also a special assistant to Prime Minister Imran Khan, at a seminar organized

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Turkey’s F-16 request a test of US relationship

A General Dynamics F-16 Solo Turk aerobatic aircraft performs during the 5th Sivrihisar Airshow in Eskisehir, Turkey, on September 13, 2020 [AFP] Middle East Eye By Sean Mathews Ankara faces stiff resistance in US Congress over plan to purchase F-16 fighter jets, while Turkish defence experts warn the country’s neighbours are modernising their air forces

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African states seeking to tap into Turkish investments at forum

By Anadolu Agency African nations are seeking trade and investment opportunities at the Turkey-Africa Economic and Business Forum currently underway in Istanbul. Representing Somalia is Minister of Commerce and Industry Khalif Abdi Omar, who acknowledged Turkey’s current role in his country that has deepened trade, investment, technology and logistics as is the theme of the

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Sh394bn of China funded projects linked to graft

Standard Gauge Railway trains at the Port of Mombasa. By Business Daily Africa China-funded infrastructure projects in Kenya worth nearly Sh394.27 billion have been dogged by claims of graft and financial impropriety, the third highest value of tainted ventures being implemented globally under Beijing’s Belt and Road Initiative (BRI). A study by a top US

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