Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

Turkey sees April inflation hit 69.97%, near 20-year high

Turkish government has announced a 34 percent increase in the monthly minimum wage, effective from July 1.
  • The inflation rate rose from 61.1 percent in March
  • On a monthly basis, prices rose by 7.25 percent

Turkey’s consumer price inflation accelerated to an annual 69.97 percent in April, local reports have said.

The number continued to rise to a two-decade high, according to statistics from the Turkish Statistical Institute.

The inflation rate increased from 61.1 percent in March, the institute said.

On a monthly basis, prices rose by 7.25 percent, said the institute.

Turkey is experiencing the highest inflation among major emerging markets and industrialized G20 economies.

Inflation is now just a few percentage points off a peak of 73.2 percent, which was reached following a financial crisis in the early 2000s.