A rebalancing of Norway’s sovereign wealth fund that was triggered back in the first quarter may have helped salvage a 0.1% return in the third quarter.
The Turkish lira fell to a record low after the central bank cut its key interest rate for a second straight meeting despite the deteriorating inflation outlook.
Turkey’s central bank chief, powered by President Recep Tayyip Erdogan’s unorthodox monetary ideas, delivered a bigger-than-expected interest-rate cut despite rising inflationary pressures and a lira slumping to record lows. The lira sank.
STV, a venture capital firm started by ex-Google executive Abdulrahman Tarabzouni, is looking to raise at least $1 billion for its second Middle East technology investment fund, making it potentially the biggest fund of its kind in the region, according to people familiar with the matter.
Economic growth in sub-Saharan Africa will lag behind world output partly because of the slow rollout of coronavirus vaccines, with more delays to immunization raising chances the disease will become an endemic problem, according to the International Monetary Fund.
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