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Collaboration against supply chain pressure from the G7

In the statement made by the British Ministry of Finance regarding the G7 Finance Ministers and Central Bank Governors Meeting held in Washington, a cooperation message was given to eliminate the problems in the global supply chain. British Finance Minister Rishi Sunak, whose views were included in the statement, emphasized the importance of increasing global …

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Microsoft decides to shut down LinkedIn in China

Microsoft announced in a written statement that it will close its professional network LinkedIn, due to the significantly challenging operating environment and tightening regulations in China. On the other hand, the company has developed a new application called InJobs, which will replace LinkedIn in the country. It has been announced that InJobs, which maintains LinkedIn’s …

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Ferrous and non-ferrous metals sector exports increased by 50 percent

The ferrous and non-ferrous metals sector realized exports of 8.9 billion dollars in the January-September period. According to the statement made by the Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB), the sector achieved the highest monthly export figure, with an export of 1.16 billion dollars in September, increasing by 53.2 percent. It received a …

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China maintained its liquidity level in the market

The People’s Bank of China (PBOC) funded the market with 500 billion yuan ($77.6 billion) through its medium-term lending facility and met the 500 billion yuan due on Friday. This result came in line with the expectations of five of the eight analysts surveyed by Bloomberg. The interest rate on medium-term lending facility remained at …

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Tax Procedure Law amendment proposal was accepted in the Turkish Grand National Assembly

According to the proposal, taxpayer earnings that are taxed with the simple method are exempt from income tax. Around 850 thousand taxpayers, who are called ‘small tradesmen’, will not submit annual returns. The earnings of those who produce social content on the Internet are exempted from income tax. According to the proposal, the supports received …

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Mining giant cuts iron production forecast

Rio Tinto lowered its iron ore shipment forecast for this year, citing labor constraints in its core Australian production region. According to the statement made by Rio Tinto, the company expects shipments from Pilbara, an important iron ore production center in the state of Western Australia, to be between 320 million and 325 million tons …

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Goldman Sachs cuts US growth forecasts

Goldman Sachs researchers have lowered their growth forecasts for the US economy for 2021 and 2022, pointing out that the recovery in consumer spending is delayed. Delayed recovery in consumer spending, Goldman Sachs Group Inc. This led economists to lower their US growth forecasts for 2021 and 2022. The Goldman team, led by Jan Hatzius, …