Latest Economy News contentTypes.economy
ECB’s Lagarde says inflation expectations still anchored
European Central Bank President Christine Lagarde has reassured that long-term inflation expectations in the eurozone remain broadly stable despite the Middle East-driven energy crisis. She said the impact on medium-term prices and growth will depend on the shock’s intensity and duration, while reaffirming the ECB’s 2% inflation target.
22 May 2026
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Turkcell and Sateliot complete first satellite 5G IoT demo in Türkiye
Turkish operator Turkcell and Spain’s Sateliot have successfully completed a field demonstration of 5G NB-IoT connectivity via satellite, integrating low-Earth orbit satellite networks with terrestrial mobile infrastructure. The technology enables IoT devices to switch between cellular and satellite coverage without interruption.
22 May 2026
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European Central Bank must respond to Iran war inflation, says EU economy chief
EU economy chief Valdis Dombrovskis said the European Central Bank will have to address rising inflation triggered by the Iran war’s energy shock. The European Commission has cut growth forecasts and raised 2026 inflation projections, with markets expecting a rate hike in June.
22 May 2026
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Saudi oil export revenue hits 3-year high amid Gulf war
Saudi Arabia’s oil export revenues surged to their highest level in over three years in March, reaching approximately $24.7 billion. Higher energy prices and the kingdom’s cross-country pipeline, which bypasses the Strait of Hormuz, helped offset wartime shipping disruptions.
21 May 2026
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Türkiye warns crypto risks fuel terror financing networks
Türkiye’s Treasury and Finance Minister Mehmet Simsek warned that rapid growth in financial technology and crypto-assets is creating new opportunities for terrorist financing and criminal activity, calling for faster international cooperation and stricter global standards during a conference in Paris.
20 May 2026
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El Nino threatens new jolts to commodity prices
The upcoming El Nino weather pattern, expected by July, could destabilize global commodity markets by shifting rainfall and temperature norms. An expert warns that Asia’s palm oil, cocoa, and cotton face serious risks, while India’s monsoon season will serve as a critical early warning signal.
18 May 2026
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Türkiye consumer confidence highest since March 2025
TurkStat announced on Monday that Türkiye's consumer confidence index climbed to 85.8 in May, reaching its highest level since March as three of four sub-indexes pointed to improved sentiment despite a sharp decline in assessments of current household finances.
18 May 2026
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Türkiye opens nanotech facility to cut farm water use by 50%
Türkiye has launched a mass production facility for a domestically developed nanomaterial that reduces agricultural water use by up to 50% and boosts crop yields by 25%. The biodegradable product, NANOTERN, follows 15 years of research at Sabancı University.
18 May 2026
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Germany warns Iran war risks global trade via Hormuz
As G7 finance ministers meet in Paris, Germany’s vice chancellor warns that a potential conflict in Iran and any blockade of the Strait of Hormuz would deliver a major shock to the world economy. Berlin urges de-escalation and stresses Europe must reduce dependency on external energy and supply routes.
18 May 2026
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Primary forest losses threaten global climate fight
Doganay Tolunay, head of the Forest Engineering Department at Istanbul University-Cerrahpasa, warned that destruction of primary forests is depleting global carbon stocks, noting that 4.3 million hectares of tropical woodlands disappeared last year despite a 36% decline in the pace of losses.
17 May 2026
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US energy chief: Hormuz could reopen by summer
US Energy Secretary Chris Wright said on Friday that the Strait of Hormuz could reopen by summer's end at the latest, warning that the US military stands ready to intervene if Iran continues holding the world economy hostage through the vital chokepoint even as he signaled that a diplomatic breakthrough could emerge within days.
16 May 2026
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Silver tumbles 6.5% as US inflation resurgence rattles markets
Silver prices plummeted more than 6.5% to $77.8 per ounce on Friday, extending losses for a second consecutive session as unexpectedly strong US inflation data drove investors away from non-yielding assets and prompted markets to price out the possibility of Federal Reserve rate cuts this year.
15 May 2026
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India hikes fuel prices for first time in 4 years amid Mideast crisis
India raised petrol and diesel prices on Friday for the first time since April 2022, as the Middle East conflict disrupted energy supplies. Oil marketing companies had been absorbing nearly 10 billion rupees ($104.5 million) in daily losses to shield citizens from global price shocks.
15 May 2026
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Turkish Central Bank lifts 2026 inflation forecast to 26%
The Turkish Central Bank raised its year-end inflation forecast for 2026 to 26%, citing war-driven energy shocks, transport costs, and global uncertainty. Governor Fatih Karahan announced interim targets of 24% (2026), 15% (2027), and 9% (2028), with a tight monetary stance to last longer than previously expected.
14 May 2026
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Belgian defense chief visits Turkish Aerospace
Belgian Defense and Foreign Trade Minister Theo Francken visited Turkish Aerospace Industries in Istanbul, meeting CEO Mehmet Demiroglu to discuss defense cooperation and aviation technologies as part of a Belgian economic mission to Türkiye taking place from May 10 to 14 under Queen Mathilde.
13 May 2026
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Global oil supply fell 1.8M barrels per day in April
The International Energy Agency reports that world oil production dropped by another 1.8 million barrels per day in April to 95.1 mb/d, bringing total losses since February to 12.8 mb/d. Demand is forecast to contract by 420,000 barrels per day in 2026.
13 May 2026
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Trump administration seeks to maintain 10% global tariffs during appeal
The Trump administration has asked a federal trade court to pause a ruling that invalidated President Donald Trump's 10% global tariffs, warning that thousands of importers could challenge the levies if the decision takes effect more broadly.
12 May 2026
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Silver surges as Iran tensions shake global markets again
Silver prices climbed sharply on Monday, reaching their highest level in nearly two months as stalled US-Iran diplomacy, rising Middle East tensions and inflation concerns pushed investors toward safe-haven assets ahead of key US inflation data.
11 May 2026
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Top 10 firms gain $4.2T since Iran war began
The world’s ten most valuable companies have added 4.18trillioninmarketcapitalisation—a16.75 trillion mark, while Alphabet saw the largest dollar gain.
11 May 2026
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China's producer, consumer prices rise in April on Middle East war energy shock
China's producer and consumer prices continued to rise in April due to the surge in global energy and raw material prices triggered by the Middle East war. The producer price index rose 2.8% year-on-year, its first sustained increase after a 41-month decline.
11 May 2026
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Belgium's Queen Mathilde to lead economic mission to Türkiye
Belgium's Queen Mathilde will lead a high-level economic mission to Türkiye from May 10-14, accompanied by Deputy Prime Minister Maxime Prevot, Defense Minister Theo Francken and over 400 business representatives aiming to deepen bilateral trade relations and explore investment opportunities in defense, energy and technology sectors.
10 May 2026
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Türkiye's Baykar chairman calls for 'Technological Solidarity Alliance' against tech monopolies
Selçuk Bayraktar warns that global technology monopolies threaten national sovereignty and human freedom, calling for a "Technological Solidarity Alliance" among allied and developing nations to counter "techno-capitalist" domination and establish independent technological ecosystems.
10 May 2026
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World food prices rise for third consecutive month amid Hormuz crisis, high energy costs
World food prices rose for a third consecutive month in April, driven mainly by higher vegetable oil prices and increases in cereal and rice quotations amid elevated energy costs, the UN Food and Agriculture Organization said. The FAO Food Price Index averaged 130.7 points, up 1.6% from March.
08 May 2026
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Türkiye targets top five in global participation finance
Türkiye plans to become one of the world’s five largest participation finance markets as the sector continues expanding globally. Treasury and Finance Minister Mehmet Simsek highlighted growth in Islamic banking, stronger economic indicators, and Türkiye’s reduced dependence on the Strait of Hormuz as signs of the country’s financial resilience and long-term economic strategy.
08 May 2026
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Shell beats Q1 forecasts as Iran war lifts oil prices
British energy giant Shell posted $6.92 billion in adjusted first-quarter earnings, surpassing analyst expectations, as the Iran conflict drove oil and gas prices higher. The company raised its dividend but slowed share buybacks.
07 May 2026
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Gold jumps 3% to $4,700 on hopes of US-Iran deal, Hormuz tensions easing
Gold prices climbed more than 3% on Wednesday, reaching $4,700 per ounce, as renewed diplomatic signals from Tehran and Washington raised hopes that tensions around the Strait of Hormuz could ease. Investor sentiment improved following reports that the White House believes it is nearing a memorandum of understanding with Iran.
06 May 2026
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İslam Memiş said 'there will be a turning point' and pointed to gold and silver: Investors and those with debt should be careful
As volatility in global markets accelerates investors' search for direction, Financial Analyst İslam Memiş made important assessments regarding market expectations for the new week. Stating that the decline in precious metals, accompanying the drop in oil prices, has caused uncertainty in the market, Memiş indicated that there will be a positive upward divergence, especially in gold and silver. Offering guidance and advice for those with gold debt and those considering physical gold investments, the expert emphasized that the price gap between the Grand Bazaar and neighborhood jewelers has narrowed due to falling labor costs, drawing attention to the normalization process in the market.
05 May 2026
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EU warns airlines, states to prepare for all scenarios as jet fuel crisis persists
The European Commission warned that uncertainty over the jet fuel crisis remains high, urging airlines and member states to prepare for all eventualities. The EU will issue guidance this week covering anti-tankering rules, passenger rights, and the possibility of using North American-type jet fuel. Several airlines have already cut flights due to rising costs.
05 May 2026
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D-8 advances SME cooperation with implementation roadmap
The 9th D-8 SME meeting highlighted the critical role of SMEs in driving growth, innovation, and intra-bloc trade, while advancing coordinated action plans and stronger cooperation to enhance SME development across member states.
04 May 2026
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European stocks dip as US tariff threat hits BMW, Mercedes, VW
European stocks edged lower in early trading Monday, dragged down by automakers after President Trump threatened to raise tariffs on EU car imports. BMW fell 2.1%, Mercedes-Benz lost 1.9%, and Volkswagen declined 1.7%. The Euro Stoxx 50 was down 0.08%, while London markets were closed for a holiday.
04 May 2026
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Swiss fuel shortage risk ‘very high’ as energy markets tighten, trade expert warns
The risk of fuel shortages in Switzerland is “very high” due to increasingly strained global energy markets, warned Florence Schurch, secretary-general of Suissenegoce. She noted strategic reserves in several Asian countries could run dry this month, and Switzerland’s dependence on foreign gas storage is problematic.
04 May 2026
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Brent oil nears $110 as Hormuz tensions shake supply routes
Oil markets turned volatile as renewed security threats in the Strait of Hormuz pushed Brent crude close to $110 per barrel. Reports of a tanker strike and a US-led maritime initiative heightened fears over disruptions to global energy shipments, raising concerns for major importers including Türkiye amid escalating geopolitical tensions.
04 May 2026
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Australia stockpiles jet fuel, diesel over Middle East supply risks
Canberra has initiated emergency measures to reinforce national energy security through substantial fuel acquisitions. The Australian government confirmed securing millions of liters of aviation and diesel supplies destined for strategic port cities. These procurements aim to insulate the nation's transport and logistics infrastructure from escalating volatility in global petroleum markets triggered by ongoing geopolitical instability across the Middle East region.
01 May 2026
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Brent crude drops below $110 after volatile rally above $120
Oil prices retreat on profit-taking but risk premiums remain high as markets track Hormuz blockade and US-Iran diplomatic signals.
30 April 2026
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Türkiye tourism revenue nears $10bn with steady growth
Türkiye’s tourism sector maintained its upward trajectory in early 2026, generating close to $10 billion in revenue despite modest growth in visitor numbers. Official data points to strong spending patterns, particularly in accommodation and food services, underscoring the sector’s resilience and its continued contribution to the national economy.
30 April 2026
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Brent crude hits $120 as Trump maintains Iran naval blockade
Global oil markets surged to multi-year highs Wednesday as Brent crude futures breached $120 per barrel, driven by escalating tensions in the Middle East. The price spike reflects growing anxiety over Washington's decision to maintain a naval blockade on Iran, effectively sealing the strategic Strait of Hormuz.
30 April 2026
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April inflation data to test markets amid Middle East energy crisis
Investors brace for key price figures from the US, eurozone, and Japan as Hormuz disruptions threaten to entrench global inflation and delay rate cuts.
29 April 2026
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China warns US-Iran war restart would hit global economy hard
Beijing calls for all efforts to avoid ‘reignition of flames,’ saying Middle East tensions have already disrupted energy markets and caused supply shortages.
29 April 2026
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UN: Strait of Hormuz maritime traffic plummets 95% amid Iran conflict
Maritime transit through the strategic Strait of Hormuz has collapsed by over ninety-five percent since the outbreak of hostilities between Washington, Tel Aviv and Tehran, United Nations officials confirmed Tuesday. The dramatic reduction in vessel movements through the critical energy corridor has triggered significant volatility in global oil markets and food commodity prices.
29 April 2026
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