General News
Greek-American James A. Koshivos, 21, Killed after Car Plunged into Ocean
FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.
ISTANBUL — Turkey's Central Bank unexpectedly cut the main interest rate by one percentage point on Thursday, bowing to President Recep Tayyip Erdogan's demand for lower borrowing rates to boost growth.
The bank's monetary committee cut the policy rate from 19% to 18% despite an annual inflation rate of 19.25%. Economists generally view higher interest rates as a curb on inflation but Erdogan has repeatedly said the reverse – that a high rate of interest causes price rises.
The decision sent the Turkish lira to a near-record low of 8.808 against the U.S. dollar.
Timothy Ash, an emerging markets economist for BlueBay Asset Management in London, described the move as "truly idiotic" in a note to investors.
"Huge risk (is) being taken by Erdogan, I think because his popularity is falling and he needs to take a risk to get the economy firing on all cylinders," he added.
The bank's governor, Sahap Kavcioglu, is the fourth appointee to the role since 2019 amid concerns over the bank's independence. He had kept the interest rate at 19% since taking office in March. Erdogan called for a cut in rates last month.
The Turkish economy never fully recovered from a 2018 currency crisis when it was hit by the coronavirus pandemic, causing growing inflation and unemployment.
The country is set for an election in 2023, although an earlier poll could be called by the government, which has faced recent criticism over a range of problems, including its handling of the pandemic, the economy and even summer wildfires and floods.
FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.
BCHARRE, Lebanon (AP) — Majestic cedar trees towered over dozens of Lebanese Christians gathered outside a small mid-19th century chapel hidden in a mountain forest to celebrate the Feast of the Transfiguration, the miracle where Jesus Christ, on a mountaintop, shined with light before his disciples.
According to a report from Pet Food Processing, inflation on pet food was at 6.
ATHENS - During a tax reform debate in Parliament, Prime Minister Kyriakos Mitsotakis defended his government’s plan aimed at the self-employed as crucial to bringing in revenues to pay for more state services, raise wages and pensions.
A trip to the doctor's office comes with a bit of preparation for most, maybe even an internal pep talk to prepare for being told to get more exercise or calm a simmering fear of needles.
DUBAI, United Arab Emirates — The world is in danger of hitting the point of no return for five of Earth's natural systems because of human-caused climate change, a team of 200 scientists said on Wednesday on the sidelines of the United Nations' climate summit.