The Turkish consumer confidence index bounced back in July after hitting a record low a month earlier as surging inflation and a drop in the lira weighed on sentiment. The index rose by 7.4% to 68 points in July, data from the Turkish Statistical Institute (TurkStat) showed Wednesday, after hitting […]
Turkey’s Anadolu Shipyard inks deal for landing crafts for African country
Turkey’s Anadolu Shipyard has signed a contract with a yet undisclosed African country for the supply of two landing ships, according to a statement by the shipyard on Tuesday. The shipyard, announcing the development through its official social media accounts said the ships developed and designed by Anadolu Shipyard are […]
Netflix reports losing a million subscribers, fewer than expected
Netflix reported on Tuesday losing subscribers for the second quarter in a row as the streaming giant battles fierce competition and plateauing demand. But, the loss of 970,000 paying subscribers was less than expected, leaving the company with just shy of 221 million subscribers. The world’s largest streaming service is […]
‘Countries need to bolster their game to attract FDI’
The President of the Investment Office of the Presidency of Turkey Burak Dağlıoğlu called on countries to strengthen their efforts to attract foreign direct investment (FDI) amid the rise of globalization and technology. In an op-ed piece penned for the World Economic Forum, Dağlıoğlu said entrepreneurship has expanded thanks to […]
Pentagon, Lockheed reach deal to build 375 F-35 fighter jets
The U.S. Department of Defense agreed with Lockheed Martin Corp. to build about 375 F-35 fighter jets over three years, the two parties said on Monday, amid expectations the price of the most common version of the aircraft would increase due to inflation and slower production. “We are pleased to […]
Google fined $373M in Russia over Ukraine content
A Russian court handed a 21.1 billion ruble ($373 million) fine to Alphabet’s Google on Monday for a repeated failure to remove content Moscow deems illegal, such as “fake news” about its invasion of Ukraine. Moscow has long objected to foreign tech platforms’ distribution of content that falls foul of […]
US plans to develop satellite system to track hypersonic weapons
The U.S. Pentagon on Monday said it plans to spend $1.3 billion on the development of advanced satellites to more effectively track hypersonic missile threats, announcing two freshly inked contracts set to launch the new systems by 2025. Derek Tournear, director of the Space Development Agency, said the contracts will […]
UAE, France ink energy cooperation deal
The United Arab Emirates (UAE) and France signed a strategic cooperation deal in the energy sector, according to a statement made by the French government on Monday. The partnership aims to identify joint investment projects in France, the UAE or elsewhere in the sectors of hydrogen, renewable and nuclear energy, […]
EU inks deal to double gas imports from Azerbaijan by 2027
The European Commission on Monday signed a memorandum of understanding with Azerbaijan to double imports of natural gas within a few years, as it seeks non-Russian suppliers after Moscow’s invasion of Ukraine. With the deal, Azerbaijan commits to double the capacity of the Southern Gas Corridor to deliver at least […]
Economics of war: Pain for Europe now, later for Russia
Across Europe, signs of distress are multiplying as Russia’s war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants. A giant utility is asking for a taxpayer […]