ISTANBUL—Turkey’s President Recep Tayyip Erdogan dismissed the central bank governor as the country is beset by its second currency crisis in two years. In a decree published in the early hours of Saturday, Mr. Erdogan ended the mandate of Murat Uysal, who had led the institution since the summer of 2019, replacing him with Naci … Read more
Output at Libya’s Sharara oil field, seen here in 2014, has been shut almost continuously since early January. Photo: ismail zetouni/Reuters Oct. 11, 2020 10:50 am ET Production at Libya’s largest oil field restarted Sunday afternoon, Libyan officials said, a move that could quickly increase the country’s overall output after an extended shutdown and add … Read more
FRANKFURT—The European Central Bank left its large monetary stimulus unchanged Thursday, as policy makers wait to see how a resurgence in Covid-19 cases across the continent and a jump in the value of the euro might affect the region’s economy. ECB President Christine Lagarde said the bank is paying close attention to the currency, highlighting … Read more
NEW DELHI—Investors across the globe are hoarding gold in the Covid-19 pandemic. In normally gold-obsessed India, there’s a glut, as struggling families stop buying and start hocking jewelry. International investors have lifted the price of gold to all-time highs this year, trying to get their hands on more gold coins, bars and exchange-traded funds. Many … Read more
Taiwanese President Tsai Ing-wen said Friday she will ease restrictions on imports of U.S. beef and pork, clearing the biggest obstacle to free-trade talks with Washington. At a televised news briefing, Ms. Tsai said she has instructed her government to ease regulations to allow imports of American pork containing trace amounts of an animal-feed additive … Read more
WASHINGTON—U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole an estimated more than $1 billion from exchanges around the world, including U.S.-based Algorand. The U.S. Justice Department said the accounts targeted in the civil forfeiture filing were used by the North Korean hackers and … Read more
TABUK, Saudi Arabia—This desert kingdom is pushing ahead with multibillion-dollar plans to build a spate of new cities despite the coronavirus pandemic and depressed oil prices, betting that projects closely associated with the crown prince will kick-start its economic recovery. The developments include a futuristic city-state called Neom in the country’s remote northwest Tabuk province, … Read more
The Trump administration is urging Iraq to proceed with a project to connect its power grid with Saudi Arabia and other Gulf states, among steps to reduce Baghdad’s longstanding dependency on Iranian energy, U.S. and Arab officials said. The grid-connection venture has been the subject of intensive consultations in recent months and was discussed during … Read more
Argentines are once again rushing to the safety of the U.S. dollar, a sign the country’s deal with creditors to restructure $65 billion in foreign debt has failed to restore confidence in government policies. The agreement reached early this month to lower interest payments and extend debt maturities will provide the insolvent South American country … Read more