Turkish lira drops 7%, signalling move towards free market

Turkey's lira plunged 7% to a record low on Wednesday in its biggest daily selloff since a historic 2021 crash, a move traders said is a "strong signal" that Ankara is moving away from state controls toward a freely traded currency. The lira has come under increasing pressure since President Tayyip Erdogan was re-elected on ...

12:53 Et June 7, 2023

Washington: Morocco Warns of Fragmentation in Global Economy

Minister of Economy and Finance, Nadia Fettah, warned in Washington against the fragmentation of the global economy, recalling that Morocco rather advocates the strengthening of cooperation. Fettah, who ...

12:26 Et April 15, 2023

French inflation hits record-high of 7.3% in February

Annual inflation in France hit a record 7.3% in February, the national statistics bureau Insee said on Wednesday. The prices were up from 7% in January. The authority's ...

15:00 Et March 15, 2023

Oil giant Saudi Aramco makes a historic $161B profit in 2022

Oil giant Saudi Aramco reported Sunday earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists. ...

13:32 Et March 12, 2023

Ford to cut 3,800 jobs in Europe, mostly in Germany, UK

Ford said Tuesday that it will cut 3,800 jobs in Europe over the next three years in an effort to streamline its operations as it contends with economic ...

11:00 Et February 14, 2023

Morocco, Spain Examine in Agadir Ways to Strengthen Cooperation in Fisheries Sector

The means to strengthen cooperation between Morocco and Spain in the fisheries sector were the focus of a conference debate held Thursday evening in Agadir, on collaborative opportunities ...

11:35 Et February 4, 2023

Oil drops as Russian price cap proposal eases concerns about tight supply

Oil declined on Thursday, hovering around two-month lows, as the Group of Seven(G7) nations' proposed range for a price cap on Russian oil was higher than current trading ...

12:03 Et November 24, 2022

Facebook's Parent Company Meta Sacks Over 11,000 Employees, Reduces Workforce By 13%

Facebook's parent company Meta has laid off more than 11,000 employees, reducing its workforce by 13%, CEO Mark Zuckerberg announced on Wednesday. "I want to take accountability for ...

15:43 Et November 9, 2022

Mercedes-Benz becomes latest Western company to pull out of Russia

Mercedes has become the latest Western company to pull out of Russia, following the invasion of Ukraine in February. The German-based firm stopped manufacturing in and exporting to the country in early March. But now it says it will withdraw from the Russian market and sell shares in its subsidiaries to a local investor. Japan's ...

14:15 Et October 26, 2022

Oil prices drop as China demand data disappoints

Oil prices slid 2% on Monday after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel ...

10:45 Et October 24, 2022
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