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Turkey expected to hike interest rate to 20-year high
Turkey expected to hike interest rate to 20-year high
Business and Economy
by  AFP

Turkey's central bank was expected Thursday to dramatically raise its key interest rate for the second month running following a sudden turn towards conventional economics by President Recep Tayyip Erdogan. The central bank raised it by a whopping five percentage points in August and is expected to do so again on Thursday.

Bank of England faces rate-hike dilemma
Bank of England faces rate-hike dilemma
Business and Economy
by  AFP

The Bank of England is expected to raise its key interest rate for a 15th straight time Thursday but the possibility of a pause has surfaced after a surprise dip in UK inflation. "Moments after the shock inflation number was released, the market expectation of a Bank of England rate rise began to plummet."

Amazon empowers Alexa with generative AI
Amazon empowers Alexa with generative AI
Business and Economy
by  AFP

Amazon’s popular Alexa digital assistant is about to be supercharged with the powers of generative artificial intelligence, the company said on Wednesday, as the tech giant steps into the AI race dominated by ChatGPT, Google and Microsoft.

Biden, Lula launch workers' rights pact
Biden, Lula launch workers' rights pact
Business and Economy
by  AFP

President Joe Biden and his Brazilian counterpart Luiz Inacio Lula da Silva unveiled a pact on workers' rights Wednesday, as the pro-union US leader grapples with a major auto employees' strike at home. Biden, who said he led the "most pro-union administration in American history," is facing an unprecedented strike hitting all "Big Three" US automakers that threatens to harm the US economy.