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Erdogan pledges support for higher interest rates
Erdogan pledges support for higher interest rates
Business and Economy
by  AFP

Turkish President Recep Tayyip Erdogan on Wednesday confirmed a major policy reversal by backing his new economic team's decision to drastically hike interest rates to fight runaway inflation. Erdogan signalled clearly on Wednesday that he now supports higher interest rates.

EU tells Turkey to 'address democracy' before membership
EU tells Turkey to 'address democracy' before membership
Business and Economy
by  AFP

The European Union's enlargement commissioner told Turkey on Wednesday to address issues around democracy and the rule of law if it wants to boost its drive to join the bloc. "For this to remobilise, there are very clear criteria to set out … (that include) democracy and the rule of law," he said.

Norway court rejects Meta bid to defer ban
Norway court rejects Meta bid to defer ban
Business and Economy
by  AFP

A Norway court on Wednesday rejected US tech giant Meta's request to defer a ban on behavioural marketing based on users' personal information, which has landed it a heavy fine in the country. On August 1, the social media giant said it would ask users in the European Union, Norway, Iceland, Liechtenstein and Switzerland to give their consent before allowing targeted advertising on its networks.