Erdogan promises to keep interest rates low despite fluctuation in prices

Turkish President Recep Tayyip Erdogan expressed optimism that the country’s unpredictable foreign exchange and inflation rates will soon stabilise, while reiterating his opposition to high interest rates in the aftermath of the lira’s sharp depreciation. The currency has lost 30% of its value in the previous month as a result of Erdogan’s dramatic interest rate […]

Indonesia’s Semeru volcano erupts

The Semeru volcano on Indonesia’s Java island has erupted, sending thick columns of ash far into the sky and causing alarm among locals. There were no initial indications of anyone being injured as a result of Saturday’s eruption. Residents ran as rising smoke and ash engulfed some nearby villages in Lumajang district, East Java province, […]