ISTANBUL: Turkey’s troubled lira extended yesterday a stirring recovery that erased nearly a month of historic losses after President Recep Tayyip Erdogan introduced emergency currency support measures. The mercurial Turkish leader stunned markets and his political opponents late Monday by effectively tying the value of some lira bank deposits to the dollar.

WASHINGTON: President Joe Biden is raising mileage standards for cars and trucks sold in the United States in a bid to limit emissions, as the spending bill he counted on to fund the fight against climate change appears to be on life support.

BRIGHTON: Brighton, on England’s south coast, has been described as Britain’s hippest city, and is a haven for tourists, especially Londoners keen to escape the capital. But surfer Stu Davies says the waters off Brighton and along the Channel coast are less attractive, describing them as an “open sewer”.

BEIRUT: Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up fast-diminishing foreign currency reserves, Central Bank Governor Riad Salameh said yesterday. Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet’s worst in modern times.

EDIRNE, Turkey: The sea of Bulgarian buses parked outside a market in Turkey’s historic city of Edirne betrays the scale of the currency crisis impeding President Recep Tayyip Erdogan’s path to a third decade of rule.

LONDON: Global equity and oil markets slumped yesterday on investor panic over the impact of worldwide measures to contain the fast-spreading Omicron coronavirus variant, dealers said. Asia tanked on concern over a fresh global surge in coronavirus infections, sparking a fierce renewed selloff in Europe.

KUWAIT: Boursa Kuwait hosted a webinar entitled ‘Environmental, Social and Governance Perspectives’ for Kuwaiti listed companies and other capital market participants on December 8, 2021. 

TOKYO: Japan’s parliament enacted a record supplementary budget worth over $300 billion yesterday as part of measures to bolster the world’s third largest economy as the pandemic threat drags on. 

SANTIAGO: The Chilean stock market and peso took a beating yesterday after leftist millennial Gabriel Boric became the country’s youngest-ever president-elect with an unexpectedly substantial victory over his far-right rival.