ANKARA (AA) – The European Commission has disbursed €300 million in emergency assistance to Ukraine to support the country amid its war with Russia. “This is the initial part of a first €600 million ($660 million) installment under Ukraine’s new €1.2 billion emergency Macro-Financial Assistance (MFA) program,” the EU Co...
LONDON – The British government has announced a full asset freeze and travel ban on seven Russian oligarchs, including Roman Abramowich, as Moscow’s war on Ukraine continues. “Foreign Secretary Liz Truss has announced a full asset freeze and travel ban on seven of Russia’s wealthiest and most influential oligarchs, whose business empires...
ANKARA (AA) – British PM and Ukraine’s President have expressed their determination to further tighten sanctions against Russia. Boris Johnson outlined the work the UK is doing to provide the military equipment Ukraine needs to defend itself and Volodymyr Zelenskyy thanked him for “the UK’s ongoing military support, alongside tough...
ISTANBUL (AA) – The UAE will encourage OPEC to raise its production levels, the Emirates’ ambassador to Washington said Wednesday. “The UAE has been a reliable and responsible supplier of energy to global markets for more than 50 years and believes that stability in energy markets is critical to the global economy,” Yousef Al...
ISTANBUL (AA) – More global brands have joined major companies from different sectors suspending their operations in Russia. It was only a few days after Russia started what it called a “special military operation” in its neighbor on Feb. 24 that various sectors in Russia, ranging from technology to automotive and energy, have anno...
MOSCOW – Russia’s VTB Bank has launched accounts in Chinese currency yuan offering up to 8% rate to deal with the volatility on the currency market. Customers will be able to open such deposit accounts from March 9 in their online personal cabinets with a minimum amount of 100 yuan (around $16), and in offices […]
Rising crude oil prices are expected to lower oil-rich Gulf nations’ need to sell Islamic bonds, according to Moody’s Investors Service. Higher oil prices will lead to lower sukuk issuance in 2022. Sukuk is the name for interst free bonds. That’s driven largely by lower financing needs among Gulf Cooperation Council countries, according to a...
U.S. biotechnology company Moderna plans to invest more than $500 million in a vaccine and drug manufacturing facility in Kenya. Leaders of the African nation signed a memorandum of understanding with Moderna on Monday in the capital Nairobi. The new facility will help address the problem of vaccine inequity experienced across Africa. Kenyan P...
BUDAPEST (AA) – Hungarian Prime Minister Viktor Orban announced Tuesday that his country is against possible sanctions on Russia that would cover imports of its oil and natural gas. Following a meeting in London with his counterparts from fellow Visegrad Group countries Poland, the Czech Republic and Slovakia along with British Prime Min...
TEL AVIV, Israel– Turkish and Israeli businesspeople are hoping the visit to Turkiye by Israel’s president will give a boost to already thriving trade ties. Isaac Herzog’s visit starting March 9 materialized at the invitation of Turkish President Recep Tayyip Erdogan. Ahead of the visit, Turkish and Israeli trade missions gathered in Tel Aviv ...
