President of the Turkish Republic of Northern Cyprus (TRNC) Ersin Tatar stated, “When we look at the figures, there is great success here. Because there is belief, there is patriotism, and there is the determination and resilience to overcome these disasters and walk confidently towards the future.” President Tatar met with business representatives in Kahramanmaraş to discuss the city’s economic situation before and after the earthquake. Tatar emphasized the importance of utilizing the production and marketing capabilities of both Kahramanmaraş and TRNC, aiming to extract economic, social, and cultural values and provide prosperity to the people. “Great success here” In…
Author: CYPRUS EYE
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The Chairman of the National Unity Party (UBP) and Prime Minister of the Turkish Republic of Northern Cyprus (TRNC), Ünal Üstel, expressed that they have achieved economic and political stability in the country, stating, “We will experience much better days after June… Because we have achieved stability. We are in favor of the continuation of the political and economic stability that has been achieved. We have a path to follow until 2027.” According to the statement from the UBP, Ünal Üstel, the UBP Chairman and Prime Minister, met with party leaders from Girne District in two separate meetings yesterday. Üstel…
While predictions about the commencement dates of central banks’ interest rate cuts worldwide are continually being pushed forward, a generally positive trend is evident in equity markets. As indexes in the New York Stock Exchange continue to test historic highs, led by technology shares, interest in emerging market equity markets is also on the rise. According to Bank of America’s data, there was a cash inflow of $20.8 billion into emerging market equity markets last week. This amount marks the highest weekly cash influx into emerging market equity markets in history. CASH FLOWING INTO EMERGING MARKETS Analysts note that Turkey…
The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations U.S. lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto without directly purchasing it. After initially dropping in reaction to last month’s green light by Washington, bitcoin has rallied about 25 percent since Jan. 22. That advance saw it hit as much as $50,328, its highest level since late 2021. And observers were optimistic about the outlook. “Enthusiast buyers bring in more enthusiast buyers pushing prices further up,” Fadi Aboualfa, of Copper Technologies, said. “The cryptocurrency has momentum…
UBS (UBSG.S) said on Tuesday, February 6, it would restart share buybacks and find $3 billion more in cost savings from integrating Credit Suisse, as the bank signalled a tougher next phase for absorbing its rival after underwhelming fourth-quarter results. Shares in the bank dropped as much as 4%, with analysts pointing to slightly lower-than-expected profitability targets as revenue at the lender falls before the cost savings are achieved. UBS’s shotgun takeover of Credit Suisse last March was the first-ever merger of two global systemically important banks, and UBS has since managed to avoid any major ructions, with its share…
Moody’s downgraded Israel’s credit rating on Friday, citing material political and fiscal risks for the country from its war with the Palestinian militant group Hamas. The impact of the conflict raises political risk and weakens Israel’s executive and legislative institutions, and its fiscal strength for the foreseeable future, said Moody’s, which had begun the review for a downgrade on Oct. 19. The country’s rating was cut to “A2,” which is five notches above investment grade, while its credit outlook was kept at negative by Moody’s, meaning a further downgrade is possible. The war between Israel and Hamas, which has raged…
Ukraine is planning to produce thousands of long-range drones capable of deep strikes into Russia in 2024 and already has up to 10 companies making drones that can reach Moscow and St. Petersburg, the country’s digital minister said. Mykhailo Fedorov spoke about the wartime drone industry he has championed in an interview in Kyiv in which he revealed new details about the sector, after a spate of Ukrainian drone attacks on Russian oil facilities in recent weeks. “The category of long-range kamikaze drones is growing, with a range of 300, 500, 700 and 1,000 kilometers. Two years ago, this category…
Gaza’s Health Ministry said on Saturday that the death toll has now risen to more than 28,000. It announced that the bodies of 117 people killed in Israeli airstrikes were brought to hospitals over the last 24 hours. Most of those who have died are women and children. The ministry said more than 67,000 people have been wounded in the fighting. Israeli airstrikes killed at least 44 Palestinians – including more than a dozen children – in the southern Gaza city of Rafah on Saturday. Israel has carried out airstrikes in Rafah almost daily, even after telling civilians in recent…
Türkiye’s first astronaut arrived back home to a hero’s welcome on Monday, just days after he returned to Earth after successfully completing the nation’s inaugural space mission. Alper Gezeravcı was greeted by bouquet-laden children at Ankara’s Esenboğa Airport as he returned from a three-week mission to the International Space Station (ISS). In return, he handed out Turkish flags he had carried with him into space. Türkiye celebrated Gezeravcı’s launch from NASA’s Kennedy Space Center in Florida on Jan. 19 on a SpaceX Falcon 9 rocket. A former fighter pilot and captain for Turkish Airlines (THY), he became the first person…
Asked about former US President Trump’s statement that he would “encourage” Russia to “do whatever the hell they want” to a NATO country that had not paid enough for defense, the top EU diplomat said the alliance cannot depend on the whims of the US president. “NATO cannot be an alliance that works depending on the humor of the president of the United States,” Josep Borrell told reporters in Brussels on Monday. “Let’s be serious. NATO cannot be an ‘à la carte’ military alliance,” he said, adding: “I’m not going to spend my time commenting on any silly idea that…