Turkey seeks cooperation with the Kingdom of Saudi Arabia to transfer energy to Europe.

In the context of Turkey’s endeavor to strengthen relations with
the Kingdom of Saudi Arabia and other countries,
Turkey’s plan focuses on being the center for exporting energy to Europe,
according to the statements of the Turkish Finance Minister,
adding that Turkey’s strategic location in terms of geographical
advantage is heard to be the corridor of energy from Saudi Arabia.

To Russia that this will reduce the high cost and safe shipping,
as he indicated the necessity of cooperation with the Saudi side,
which contributes to the stability of the region,
and this saves a lot in energy and gas prices and will lead to forward aspirations

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Turkish imports declined in the past

Expectations of a Fed rate hike to 5% could cause a global recession

Amazon declines in market value to less than a trillion dollars

Turkish imports declined in the past

Saudi imports from the Turkish side witnessed a significant decline in 2021 to the lowest levels in 38 years,
and the volume of trade exchange between the two countries declined during 10 years to 16.7 billion riyals,
and since then, the two countries have been seeking to strengthen relations
again in various fields and attract more investments,
This came after a visit by Turkish President Recep Tayyip Erdogan in April,
which was the first visit since 2017, in the context of correcting the course of relations between the two countries again,
and one of the main reasons for the tension in
relations was the case of the murder of journalist Jamal Khashoggi in the Saudi consulate in Turkey.

Strengthening open relations between the two parties

During the coming periods, the pace and cooperation of Saudi Arabia and Turkey will increase,
and the field will be open after the Kingdom’s plan under the slogan
“The Kingdom’s Vision 2030” and also Turkey for the year 2023,
where it will be transferred to a new stage of cooperation and we will contribute to achieving peace
and prosperity in the vicinity of the region, in addition to supporting the Turkish side to Saudi Arabia.

And also the two countries efforts to fight terrorism, so the two sides seek to strengthen relations,
investments, and trade, and Turkish relations extended to strengthening trade exchange
and cooperation also with the UAE side and an economic partnership
that facilitates business and reduces customs duties as well,
and this is a prelude to a new beginning of the era that includes cooperation

article name Turkey seeks cooperation with the Kingdom of Saudi Arabia

Expectations of a Fed rate hike to 5% could cause a global recession.

The idea of raising interest rates remains to dominate the minds of Fed officials,
whatever its consequences. It is expected that the meeting that
will be held next week will carry with it a wave of economic paralysis,
as it is certain that they will not abandon the decision to raise interest rates,
which will reach nearly 5% during March 2023.

This would create a recession that would sweep
the entire world and not only the United States of America,
as mentioned by the most important economists.

The Fed meeting will be held next Wednesday at two o’clock Washington time
According to a Bloomberg survey, the committee is expected to raise the interest
rate by another 75 basis points for the fourth time in a row,
due to the rise in employment costs that appeared on Friday,
and the move away from the goal of satisfaction from the desired inflation situation.
One of the most important reasons for the Fed’s decision to raise interest rates again.

From the point of view of economic analysts,

it is difficult for the Fed officials to abandon their hard-line positions
in abandoning the interest rate hike to fight inflation,
which has reached its peak for nearly 40 years.

Point during the two successive meetings, according to what the committee stated
that 4.4% is the committee’s goal for this year,
and 4.6% will be reached during the next year before the start of the reduction,
which will start during 2024, which may cause a global recession during the coming period,
and unemployment may also worsen as well.

Fed Chairman Powell mentioned that fighting inflation by raising interest rates will be a not easy job.

Most of the Fed officials agreed that the next two years will cause the markets a major recession
with a period of zero or negative growth in the future.

This was the result of the expectations of the poll conducted before the Fed official’s meeting.
Perhaps history will repeat itself and the same goals of the eighties,
when the interest rate reached its highest levels, from the point of view of economists

article name Turkey seeks cooperation with the Kingdom of Saudi Arabia

That the Fed may be excessively

tightening its monetary policy as economists’ expectations
put the average peak target interest rates at 4.75% and that 75% of economists have warned
that there is a greater risk that the central bank will increase interest rates significantly,
and cause unimaginable burdens. Unnecessary, instead of not raising it enough,
and thus failing in the desired goal, which is to control inflation,
which has reached its peak during the past forty years.

Expectations are different among event readers, some expect 50 basis points,
and others expect 75 points. As for investors, they expected the second option,
the 75, and it is expected that the interest rate will reach 4.8 next December,
but if the Federal Reserve raises the interest rate again by seventy-five Next week,
the total of 375 basis points increases since last March,

will be the Fed’s biggest rate

hike since the 1980s when Volcker was Fed chair and was grappling
with high inflation like those days when The United States of America is going through
while it is attempting to reduce the Federal Bank of assets to 1.1 trillion dollars annually,
and economists expect the balance sheet to reach eight and a half trillion dollars
at the end of this year and will decline to 6.7 trillion dollars in December 2024,
when the Fed begins to return to the tightening policy cash gradually.

article name Turkey seeks cooperation with the Kingdom of Saudi Arabia

Amazon declines in market value to less than a trillion dollars

in light of the slowdown in growth in the fourth quarter of 2022.

The “Amazon” earnings report, which was disappointing and greatly disappointing about the future outlook,
caused investors to sell the shares of the technology giant,
as the market value of “Amazon” fell to less than a trillion dollars.

Amazon stock recorded a decline of about 12%, in light of the expectations of technology companies
to slow down in profits during the last quarter of this year 2022,
and Amazon stock recorded a decline of 21% at the end of trading last week,
thus the company joins the rest of the technology sector companies that record a decline
and that witnessed major collapses in market value

Collective retreats

While some technology sector companies, whose value exceeded
a trillion dollars during the current year, declined,
and this came at a time when US Treasury bonds were declining,
in addition to high inflation that reached its highest levels in decades,
all of these factors had a direct impact on the shares of technology giants,
and the place The Nasdaq 100 index fell by about 32%,
it included the problem of supply chains as well as closures due to the Corona epidemic in China
and the continuation of the Russian-Ukrainian war
The market value of the electric car giant, which used to exceed one trillion dollars,
has now fallen to 710 billion dollars, while the market value of the “Meta Platforms” company,
which includes “Facebook” also declined, with a decline of 75% from its historical peak,
which amounted to 10.08 trillion dollars in the year 2021,
and thus came out of the list of the 20 largest companies

Negative pressure

The strong impact of the ban due to the Coronavirus in China has caused
the business growth of “Amazon” company,
whose market value has reached a peak of 1.88 trillion dollars, since last year,
but with the slowdown experienced by the turbulent global economy,
their name fell by about 33% during 2022.

In addition to the decline in the ranking of the richest man in the world,
which was owned by the founder of the company, it is currently ranked third.

article name Turkey seeks cooperation with the Kingdom of Saudi Arabia

Turkey seeks cooperation with the Kingdom of Saudi Arabia

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