Turkey raises key rate by 4.75 percentage points under new central bank chief

Turkey raises key rate by 4.75 percentage points under new central bank chief

Turkey raises key rate by 4.75 percentage points under new central bank chief

Turkey raises key rate by 4.75 percentage points under new central bank chief

The Turkihs central bank said the one-week repo auction rate would go from 10.25 percent to 15 percent. (AP)

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Turkey raises key rate by 4.75 percentage points under new central bank chief

One-week repo auction rate would go from 10.25 percent to 15 percent

Updated 19 November 2020

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ANKARA: Turkey's central bank on Thursday aggressively raised its main interest rate by 4.75 percentage points after a major economic team shakeup that included President Recep Tayyip Erdogan's son-in-law giving up his finance ministry brief.

The bank said the one-week repo auction rate would go from 10.25 percent to 15 percent. The Turkish lira gained nearly two percent in value against the US dollar to reach 7.55 moments after the announcement.

Adidas signs partnership with Saudi gaming body

Sportswear giant will help boost Saudi gamers' fitness, performance

Updated 19 November 2020

Shane McGinley

November 19, 2020 20:25

DUBAI: German sportswear giant Adidas has signed a partnership deal with the Saudi Arabian Federation for Electronic and Intellectual Sports (SAFEIS), the official regulator in charge of developing the Kingdom's fast-growing gaming sector.

The memorandum of understanding (MOU) was signed between