World-renowned banks JP Morgan and HSBC updated their inflation and interest rate forecasts for Türkiye. HSBC bank raised its inflation forecast for Türkiye by 4 points and JP Morgan raised its forecast to 45 points before the policy rate to be announced by the Central Bank of Türkiye on Thursday.

The automotive industry, which exported 2 billion 738 million dollars in July in Türkiye, was followed by chemical products with 2 billion 665 million dollars and clothing and apparel with 1 billion 674 million dollars. With this, the highest export increase was recorded in ships, yachts, and services with 293.3 percent.

International Monetary Fund (IMF) First Vice President Gita Gopinath stated that they expect global interest rates to remain high for a long time as the struggle to return inflation to targeted levels continues.

International credit rating agency Moody's raised its growth forecast for the Turkish economy from 2.6 percent to 4.2 percent this year and from 2 percent to 3 percent next year.

The "Comprehensive Economic Partnership Agreement" (CEOA) between Türkiye and the United Arab Emirates (UAE) will enter into force on Friday. While a trade volume of 25 billion dollars is targeted in 5 years, the agreement also covers services in which Türkiye is strong.

Although the European Union (EU) has set a target to end fossil fuel imports from Russia within a few years, it is noteworthy that it has increased its liquefied natural gas (LNG) imports from this country to record levels. EU countries imported a record total of 13.2 billion cubic meters of LNG from Russia in 2023’s January-July.

The International Monetary Fund (IMF) made a statement regarding its visit to Türkiye at the end of September. In the statement, it was stated that the technical team of the visit will be carried out within the scope of preparation for the Article 4 consultation that it is a routine visit, and that Türkiye has not requested any financial support.

Turkish Trade Minister Omer Bolat emphasized that they will work to increase bilateral trade relations between the two countries after his meeting with Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates (UAE).

The US Energy Information Administration (EIA) announced that commercial crude oil stocks fell in the country. US commercial crude oil stocks fell by about 6 million 100 thousand barrels last week compared to the previous week.

While global markets continued to search for direction amid uncertainties regarding monetary policies, eyes turned to the intense macroeconomic data agenda to be announced around the world today. While European stock markets were on a buying-heavy course yesterday, the news flow in China continues to be the focus of investors.

The Panama Canal, one of the most important canals in the world, is on red alert due to low water levels. Due to the drought in the canal, the number of passage of ships has been limited and this situation has affected the ships considerably. Authorities underlined that dozens of ships that could not enter the canal and waiting in the gulf could hit global trade.

After the first quarter of the year, the Dutch economy shrank in the second quarter and entered a recession. The decline in consumer spending and exports are thought to be the two most important factors causing the recession.

The minutes of the last meeting of the US Federal Reserve, in which the Fed raised interest rates by 25 basis points to a 22-year high of 5.25-5.50 percent, were published. Fed officials drew attention to the upside risk in inflation, which may require further tightening of monetary policy.

The US-based International credit rating agency Moody's changed the outlook for Turkish banks from negative to stable and added that the government's first steps towards returning to orthodox policies following the elections in May 2023 have supported operating conditions for Turkish banks.

Economic problems continue to grow in China, while debt problems in the real estate sector remain on the agenda, while the Central Bank cut interest rates, the yuan declined against the dollar. The National Bureau of Statistics did not share statistics on high unemployment.

Ahmet Hamdi Gurdogan, Vice Chairman of the Board of Directors of the Eastern Black Sea Exporters Association of Türkiye, announced that they earned 17 million 182 thousand 55 dollars in the January-July period of this year and exported 3 thousand 576 tons of tea.

With the increase in temperature in Türkiye, good news came for Russian foreign tourists. The Ministry of Transport of Russia announced that an agreement has been reached with Türkiye to increase the number of flights mutually in air transportation.

There is talk of a brand new source of energy reserves in the Mavi Vatan. Have you ever heard of this name? Gas hydrate, the fuel of the future, the source of wealth…

The flow of grain from Ukraine to the whole world alarmed European farmers. Since the European Union lifted import duties on agricultural products from Ukraine last summer, more than 23 million tons of grain have flooded the bloc. Four countries have temporarily suspended imports after local farmers complained that the influx of corn and wheat was disrupting the market.

In the first year of the Russia-Ukraine war, the cost of the war increases as the war drags on. Despite this, Russia can finance the war on its own. Russian President Vladimir Putin is estimated to have a fortune of around 250 million euros. It is curious how Putin got this fortune.

While the strikes of public sector workers in Germany continued for a while, the negotiations between the Ministry of Interior and trade unions were continuing. However, the negotiations, which lasted for three days, yielded negative results.