The Latest Breaking News from Timothy Ash

Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month.

Turkish Finance Minister Mehmet Simsek says Turkey and the United Arab Emirates have signed deals worth $50.7 billion, as President Recep Tayyip Erdogan rounds off a three-country tour of the Gulf

Moscow (AFP) - Russia has found itself in an unequal relationship with China since intensifying its pivot toward Beijing after the assault on Ukraine.

The leaders of Turkey and Russia are continuing to deepen relations as Moscow intensifies its war against Ukraine. Their frequent meetings and close ties fuel concerns among Turkey's Western allies that Ankara is circumventing sanctions against Russia.

Ankara is claiming a breakthrough in efforts to release trapped Ukrainian grain to world markets as global food prices soar. The breakthrough came after Wednesday's four-way talks between Russian, Ukrainian, United Nations, and Turkish officials in Istanbul.

One subsidised restaurant seeks to help Turks facing escalating living costs. But such acts do little against a soaring inflation rate

The G7 would need to get large consumers like India and China involved for such a plan to work.

The arrival in a Turkish port of two superyachts belonging to a Russian oligarch is drawing attention to Ankara's policy of refusing to impose sanctions on Russia in response to its invasion of Ukraine. There are concerns that Turkey is becoming a safe haven for those seeking to circumvent sanctions.

Moscow (AFP) - President Vladimir Putin said Wednesday Russia will only accept payments in rubles for gas deliveries to "unfriendly countries", which include all EU members, after Moscow was hit by unprecedented sanctions over Ukraine.