ECONOMY & MARKETS

Turkey's Trade Deficit Surges, Energy Costs Add To Risks

Locals and foreign tourists shop at the Grand Bazaar in Istanbul, Turkey, October 21, 2021.
Turkey's trade deficit widened 186% year-on-year in the first two months of the year due to a surging energy bill, data showed on Wednesday, as soaring commodities prices prompted economists to raise their current account deficit forecasts.
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Models of oil barrels and a pump jack are displayed in front of a rising stock graph and "$100" in this illustration taken February 24, 2022.

Oil Blasts Through $110/bbl, As Few Alternatives Seen To Russian Supply

Oil surged relentlessly beyond $110 a barrel on Wednesday, extending its rally since Russia invaded Ukraine seven days ago, on expectations that the market will remain short of supply for months to come following sanctions on Moscow and a flood of divestment from Russian oil assets by major companies.
Logo at an Apple store in Washington, U.S., January 27, 2022.

Global Brands Exit Russia Over Ukraine Invasion

From Canada Goose parkas and the latest iPhone to spare parts for aircraft engines and even some of the planes themselves - the list of goods, consumer and industrial, that will no longer be sold in Russia is growing longer with every day.
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Tiny Imploding Russia Fund Draws Rush Of Options Bets

Options on a small, soon-to-be defunct exchange-traded fund tracking Russian stocks drew a rush of trading on Tuesday, as investors placed bets on what the fund's shares will do in its last few days of trading.

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