News in Brief
Erdogan hints at interest rate hike
AFP – Turkish President Recep Tayyip Erdogan signalled Wednesday that he would let his new economic team hike interest rates to combat inflation and stabilise the lira, reversing an era of unconventional policies.
Erdogan, who secured re-election last month, has appointed market-friendly economist Mehmet Simsek as finance minister and former Wall Street executive Hafize Gaye Erkan as central bank governor.
Turkey had “no choice but to return to rational ground”, Simsek said soon after taking office.
France wants Musk
to build
Tesla factory
CNBC – France is trying to convince Elon Musk to build Tesla’s next Gigafactory in the country, the nation’s digital minister said on Wednesday, in the most explicit comments yet that Paris wants the billionaire’s investment.
The courtship comes just as the minister threatened the Musk-owned Twitter with a ban, if it does not comply with upcoming European Union regulation.
“It will be great to have a Tesla factory in France, there has been a lot of effort and energy to make sure this is possible and this can happen,” Jean-Noel Barrot said.
China holds urgent meetings
on economy
BLOOMBERG – China has convened ‘urgent’ meetings on the economy with business leaders on how to revitalize the economy.
Meeting attendees characterized “an “unusually urgent” tone in the meetings, which were described by people present.