finances in the East

Russia-China trade increasing

Russia-China trade increasing

Trade turnover between Russia and China increased by 2.8% in January-October year-on-year to $202.2 bln, the General Administration of Customs of the People's Republic of China reported. Exports from Russia to China added 1.1% in …

Islamic banking in Uzbekistan has great future

Islamic banking in Uzbekistan has great future

There are great prospects for the development of Islamic banking in Uzbekistan, since most of the population is Muslim. This tool is able to attract up to $10 billion to Uzbekistan per year.

Türkiye raises minimum wage again

Türkiye raises minimum wage again

For the second time in 6 months, Türkiye will increase the minimum wage. It will grow by 34% from July 1. This decision will increase the purchasing power of citizens.

Iran's foreign trade increases in seven months

Iran's foreign trade increases in seven months

The value of Iran’s non-oil export rose 5.6% during the first seven months of the current Iranian calendar year (March 21-October 22) as compared to the same period of time in the past year, the spokesman of the Islamic Republic of Iran …

Türkiye to ignore G7 sanctions against Russian oil

Türkiye to ignore G7 sanctions against Russian oil

Ankara can purchase and transport Russian oil without the need for Western financing or insurance, Treasury and Finance Minister Nureddin Nebati said. When asked whether Turkish buyers would comply with the requirements of the G7 …

Central bank of Türkiye lowers interest rates again

Central bank of Türkiye lowers interest rates again

The Central Bank of Türkiye has decided to cut the discount rate from 13% to 12%, the regulator's press service reports. "The Monetary Policy Committee has decided to lower the rate at weekly repo auctions (a short-term …

Payment in rubles to benefit Russia and Turkey, Erdogan says

Payment in rubles to benefit Russia and Turkey, Erdogan says

Turkish President Recep Tayyip Erdogan, in an interview with reporters, spoke about the talks with Russian leader Vladimir Putin, which took place in Sochi. He noted that the parties reached an agreement on the start of the transition …

Sberbank to cooperate with Iranian bank

Sberbank to cooperate with Iranian bank

Commercial bank Bank Melli Iran has signed cooperation agreements with Russia's Sberbank, Iranian Press TV reported. It is noted that the memorandum was signed by the CEO of Bank Melli Iran Mohammad Reza Farzin, who is on a visit to …

Another Turkish bank begins accepting Mir cards

Another Turkish bank begins accepting Mir cards

The fourth largest bank in Turkey has joined the acceptance of cards of the Russian payment system "Mir", ATOR reports. At the end of May, DenizBank was added to the credit organizations Ziraat Bankası, Vakıfbank and Iş …

Reebok sells its business in Russia to Turkish retailer

Reebok sells its business in Russia to Turkish retailer

Turkey's online shoe store FLO and an American fitness footwear and clothing manufacturer Reebok have signed a cooperation deal: the new owner now has 100 Reebok stores in Russia. The Russian-Turkish deal's three …

Russian Mir card may be recognized in Iran

Russian Mir card may be recognized in Iran

Iranian Ambassador to Russia Kazem Jalali said that Tehran is discussing with Moscow the Mir payment system recognition. "This issue is on the agenda, which we are discussing with our Russian colleagues," RIA Novosti quoted …

New banknotes to be issued in Uzbekistan

New banknotes to be issued in Uzbekistan

The Central Bank of Uzbekistan in 2024 will put into circulation a 200 thousand soums banknote. "A lot of people say the issue of new bills is an indication of inflation. No, it is not. We simply exchange old bills for …

Erdoğan:  Turkey's minimum wage to grow by 50% next year

Erdoğan: Turkey's minimum wage to grow by 50% next year

Turkish President Recep Tayyip Erdogan today announced the new minimum wage in the country for 2022, which will be 4250 liras. "The national minimum wage for the coming year is 50% higher than the current rate. We …

Erdogan promises to stabilize prices in six months

Erdogan promises to stabilize prices in six months

Turkish President Recep Tayyip Erdogan addressed the nation today at the opening of industrial facilities in Siirt province. The Turkish leader urged citizens to trust the authorities since Ankara's goal is to improve the life of the …

Uzbekistan-Turkey military-financial cooperation approved

Uzbekistan-Turkey military-financial cooperation approved

According to Uzbek media, today, the President of Uzbekistan, Shavkat Mirziyoyev approved an intergovernmental agreement with Turkey on military-financial cooperation. The relevant data are contained in the decree signed by Mirziyoyev …