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Inflation in Turkey reached new highs

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newsflight july 5

Markets

Nikkei 225

28,598.19

▼ -185.09 / -0.64%

SSE Composite

3,534.32

▲ +15.56 / +0.44%

IBOVESPA

127,163.00

▼ -458.65 / -0.36%

Straits Times

3,141.02

▲ +12.07 / +0.39%

BMV IPC

50,223.01

▼ -0.31%

Dow Jones

34,786.35

▲ +152.82 / +0.44%

DAX 30

15,661.98

▲ +11.89 / +0.08%

BSE SENSEX

52,880.00

▲ +395.33 / +0.75%

FTSE 100

7,166.10

▲ +93.13 / +1.32%

JSE Top 40

59,891.28

▼ -401.36 / -0.67%

Market News

  • S&P 500: The US’ S&P 500 index showed major strength last week.
  • SSE Composite: China’s Shanghai index, the SSE, appears to have started off strong this Monday.
  • FTSE 100: The FTSE 100 index in the UK appears to be showing slow growth as the weeks go on.

Last Week’s Highlights

Inflation In Turkey Takes on New Levels

Turkey has been experiencing significant inflation. In May and June, inflation seemed to slow in a very unexpected way. However, July has brought a major challenge to leader Recep Erdogan’s strategy, marking major inflation highs. In comparison with major currencies like the euro and US dollar, the lira’s depreciation in value stuns.

Collapsed Building in Miami Represents Potentially Bigger Problem

The Champlain Towers in Surfside, near Miami, Florida, that collapsed just two weeks ago have officially been demolished. Now, rescuers hope to access more of the area than before, to ideally give better insight into the collapse. This tragedy, unfortunately, is something officials claim could have been avoided… by investing the right amount of money and time into rebuilding. The millions of dollars needed to restructure are something that perhaps neither Champlain Towers residents, nor fellow Miami residents in similar situations, have at the ready. 

Coming Up This Week

OPEC Stress Over UAE Challenge

For years, Saudi Arabia has maintained control over OPEC, especially in the Middle East. However, the United Arab Emirates has, as of late, decided to challenge new proposals to decrease production. Emirati representatives have called these proposals ‘unfair’, citing likely increased need for petroleum products as summer for the northern hemisphere comes into full swing.

Fraud Claims and Election Contention in Peru

The South American country of Peru has been waiting for a definitive election result since the beginning of June. Up against the seeming winner of the presidential election is Pedro Castillo (associated with the country’s Perú Libre party), is Keiko Fujimori. Fujimori is the daughter of former President Alberto Fujimori, who is currently awaiting trial in Peru. Investigations into fraud claims made by Keiko Fujimori could still take weeks to be cleared up.


More Things to Sip On…

A tragic plane crash shocks the Philippines.

Vaccination campaigns take off to help those in dire situations in Rome.

New delta COVID-19 variant putting vaccines through trial by fire.


Academy

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20 Side Hustle Ideas to Boost Your Income

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“A side gig, moonlighting, or, as the kids call it these days, a side hustle is an excellent way to diversify your income, make a hobby profitable, and even build your confidence.” 

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“During recession greed dies, frugality survives.”
– Amit Kalantri –


Disclaimer
All market information provided was collected in the afternoon of July 2, 2021. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest Limited is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Limited.

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