Money Talks

The United Arab Emirates has pledged to invest 10 billion dollars in the Turkish economy as the two countries look to boost economic co-operation. The development follows a meeting between Turkish President Recep Tayyip Erdogan and Abu Dhabi Crown Prince Mohamed bin Zayed Al Nahyan in Ankara this week. Taha Meli Arvas was with us. He is is an adjunct professor of finance at Bogazici University here in Istanbul.

#Turkey #UAE #TurkeyUAETies

Fear is gripping global markets following the discovery of a new COVID-19 variant in South Africa. Health officials are still learning about the new strain, but early indications show it might be the fastest-spreading variant yet, and current vaccines could be less effective against it. For more, Doctor Muhammad Munir joined us. He's a virologist at Lancaster University in the UK.

#Omicron #CovidVariant #Cronavirus

- UK car output falls to lowest October level since 1956

- China reportedly asks ride-hailing giant Didi to delist from US

- Australia's retail sales rebound in October as economy reopens

#UKCarIndustry #Didi #AustraliaRetailSales

South Korea's central bank is leading the way for monetary authorities around the world in fighting inflation. It's raised interest rates despite concerns that higher borrowing costs may stifle a fragile economic recovery.

The Bank of Korea raised its benchmark rate by 25 basis points to 1 percent. It's the second hike in as many meetings, and Governor Lee Ju-yeol says the central bank may do so again early next year. South Korea was the first major Asian economy to bring up borrowing costs since the pandemic as concerns grow about inflation. Consumer prices in South Korea rose 3-point-2 percent in October, the highest rate in a decade. G-D-P is still expected to grow 4 percent this year, but policymakers are worried that keeping rates low for too long might lead to unsustainable debt levels. Household debt in Asia's fourth-largest economy rose to 1-point-5 trillion dollars in the third quarter. That's more than 100 percent of G-D-P. For more, we spoke to Jeffrey Halley in Jakarta. He's a senior market analyst for the Asia Pacific region at OANDA.

India has become the latest nation to reject cryptocurrencies, despite a thriving domestic market in the trading of assets like bitcoin and ether. The government says the movement of blockchain assets is too hard to track, making them prone to use for illegal purposes. Instead, New Delhi is pushing for the adoption of an official digital currency, which would make transactions easier in an economy where most people still rely on cold hard cash. Paolo Montecillo has more.

#Cryptocurrencies #Crackdown #Bitcoin #India

Health authorities in the US say the drug use crisis is getting worse. Mental health issues caused by pandemic lockdowns have led to an increase in prescription drug overdoses. The opioid crisis was declared a public health emergency in 2017. But despite this increased awareness and federal funding, more Americans are losing their lives. Motheo Khoaripe reports.

#USDrugUse #Opioids #Fentanyl #PandemicLockdowns

Enel to invest $191B to speed up green energy shift

Cameron reportedly lobbied to keep Greensill ties

Three pharmacy chains found liable for opioid crisis

#Enel #DavidCameron #OpioidCrisis

After the Taliban's takeover of Afghanistan in August, women have largely been barred from schools and jobs. As Rahul Radhakrishnan reports, many women who are the sole breadwinners in their families are running out of money.

#AfghanWomen #WomenRight #Afghanistan

The US is tapping its emergency reserves of oil as pressure mounts on the White House to address rising inflation in the world's largest economy. The unprecedented move is being co-ordinated with other major crude consumers struggling to cope with higher commodity prices. Washington has called on international oil cartel OPEC and its allies to raise production faster to meet growing demand, but those appeals have been ignored. Ellen Wald who is the president of energy consulting firm Transversal Consulting joined us for more.

#Oil #OilPrices #OilProduction

Video conferencing platform Zoom was one of the biggest winners of the past year and a half, with users around the world relying on its services throughout COVID-19 lockdowns. But as restrictions have started to ease, shares have fallen 28 percent since the beginning of the year. And the company says growth in the coming months will continue to slow as schools and offices reopen, and people start travelling again. Daniel Ives was with us. He's the managing director and senior equity research analyst at Wedbush Securities in New York.

#Zoom #VideoCall #ZoomEarnings