Author: News Desk

Turkey’s Erdogan set for economic U-turn and steep interest rate hike Turkey is preparing to reverse President Erdogan’s unorthodox economic policies to combat high inflation. Interest rates, currently at 8.5%, are expected to increase significantly, less than a month after Erdogan was re-elected. A cost of living crisis has swept the country due to an inflation rate of nearly 40%. Erdogan has been reluctant to raise interest rates, but the situation demands a change. The extent of the rate hike is uncertain, with economists divided on the severity. Some suggest an 11.5-point increase to 20%, while others predict rates could…

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Ukraine strikes Chonhar bridge to Crimea, says Russia Russian officials say Ukraine has attacked a bridge that links southern Ukraine to the Crimean peninsula. They also claim the attack was likely carried out by British Storm Shadow missiles and the attack was “ordered by London”. The two parallel Chonhar bridges were both damaged but no one was hurt, said the Russian-installed governor in occupied Kherson Vladimir Saldo. The bridge severs as the most direct route from Crimea to the southern front line. It is also a crucial link to the occupied city of Melitopol, situated along the coastal route that…

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China restaurant gas explosion kills 31, arrests made At least 31 people have died in an explosion at a restaurant in north-west China, leading to the arrest of nine individuals. Among those taken into custody, according to state media, is the owner of the Fuyang Barbecue Restaurant. The incident, which occurred in Yinchuan City on Wednesday night local time, is believed to have been caused by a gas leak.  President Xi Jinping has urged for comprehensive rescue efforts and an investigation into the explosion. The explosion took place on the eve of the Dragon Boat Festival holiday, a time when…

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