Turkish lira faces devaluation

The Homeowners’ Association is immediately ceasing its assistance with cavity wall insulation. The advocacy group considers it irresponsible to offer this service until the caretaker government provides “clarity on how to environmentally insulate cavity walls in the short term.” Members were able to hire a certified company at a discount through Eigen Huis. The reason for this...

Next year’s budget is nearly finalized. The outgoing cabinet is allocating 2 billion euros to primarily support the lowest incomes. According to outgoing Finance Minister Sigrid Kaag, it constitutes a “balanced package.” This year’s budget focuses on the increasing poverty. Without additional measures, almost a million people would fall below the poverty line next year...

Hong Kong’s economy is suffering damage from a decline in exports. Official statistics showed a decrease in exports by 9.1% in July compared to last year. Bloomberg experts’ forecasts were for a decline of 8.8%. The decline has been going on for more than a year. Imports also decreased by 7.9% (the expectation was minus 5.9%). The trade deficit amounted to 3.8 billion US dollars. The...

The Turkish central bank has raised the interest rate in the country from 8.5 to 15 percent to combat soaring inflation. The almost doubling of the rate may seem significant, but economists had expected an increase to 21 percent. The hike represents a remarkable policy shift by the Turkish central bank and the government. The rate hike is a 180-degree turn in Turkey’s monetary policy, which...