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Turkish economy expands 5.7% in Q1 on strong domestic demand May 31, 2024 03:33AM

ISTANBUL (Reuters) - Turkey's economy grew 5.7% in the first quarter of the year, in line with expectations, official data showed on Friday, growing strongly as domestic demand boosted the economy.

In a Reuters poll, the economy was forecast to have expanded 5.7% in the first quarter. The poll predicted growth of 3.15% in 2024 as a whole.

Growth is expected to slow during the rest of the year as the central bank's aggressive monetary... (continue reading...)


China, US defence chiefs discuss Taiwan, Ukraine, Gaza May 31, 2024 03:31AM

SINGAPORE (Reuters) - Chinese Defence Minister Dong Jun and United States Defense Minister Lloyd Austin held a constructive meeting in Singapore on Friday, including talks on Taiwan, the war between Russia and Ukraine, and the conflict in Gaza, a Chinese spokesperson said.

Minister Dong warned Austin that the United States should not interfere in China's affairs with Taiwan, a democratically ruled territory that Beijing wants brought under its control,... (continue reading...)


German retail sales fall more than expected in April May 31, 2024 03:28AM

(Reuters) -German retail sales fell more than expected in April, decreasing by 1.2% compared with the previous month, dimming hopes that consumer spending could give a much-needed boost to Europe's largest economy.

Analysts polled by Reuters had predicted a 0.1% decrease.

Year on year, retails sales declined by 0.6% in real terms, the federal statistics office reported on Friday.

The data, published in more detail on the... (continue reading...)


Crypto 're-staking' platforms boom as traders chase bigger returns May 31, 2024 03:19AM

By Elizabeth Howcroft

LONDON (Reuters) - More than $18 billion worth of cryptocurrency has moved into a new type of platform which offers investors rewards in exchange for locking up their tokens, in a complex scheme that analysts warn poses a risk for users and the crypto market.

The soaring popularity of so-called "re-staking" is the latest sign of risk-taking in crypto markets as prices rally and traders hunt for yield. Bitcoin, the... (continue reading...)


Papua New Guinea leader visits community hit by landslide May 31, 2024 03:14AM

SYDNEY (Reuters) - Papua New Guinea (PNG) Prime Minister James Marape on Friday made his first visit to a remote village hit by a deadly landslide last week and thanked international aid donors for their support.

Officials are still trying to pinpoint how many people are buried under parts of a mountain which collapsed onto the Yambali village in the Enga region a week ago.

More than 2,000 people may have been buried alive, according to... (continue reading...)


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