ISTANBUL, Turkey: Turkey’s central bank on Thursday stunned the markets by lowering its main interest rate even as inflation soared to a 24-year high and looks set to climb further.

LONDON: Railway staff in Britain on Thursday staged the latest in a series of strikes, once again disrupting commuters and leisure travellers, as decades-high inflation hits salaries and prompts walkouts across various industries.

The Kuwaiti crude oil price fell by USD 1.28 to USD 98.07 per barrel on Wednesday, compared with USD 99.35 per barrel the previous day, said the Kuwait Petroleum Corporation (KPC) on Thursday.

London: The UK government has blocked Hong Kong-based firm Super Orange from purchasing British electronic-design company Pulsic, citing security risks posed by China.

Kuwait: The price of Kuwaiti oil went down by USD 2.71 to USD 99.35 per barrel on Tuesday, as opposed to USD 102.06 per barrel the day before, said the Kuwait Petroleum Corporation (KPC) on Wednesday.

BERLIN: “A rush like this in the summertime, it’s unheard of-everybody wants coal,” says Frithjof Engelke, a supplier of the briquettes which have become a hot commodity in the German capital.

BEIRUT: Lebanon is expected to post the second-highest inflation rate in the world this year, trailing only Sudan, according to Fitch Solutions.

RIYADH: The Saudi economy is expected to grow 7.6 percent this year, up from 3.2 percent in 2021, on the back of soaring oil revenues, the International Monetary Fund said Wednesday.

BEIJING: Chinese tech giants including Alibaba, Tencent and ByteDance have submitted details to a state regulator of algorithms used in some of their products, in an unprecedented move as authorities strengthen oversight of the sector.