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Polina Ivanova, an FT journalist, highlights the vital role of Telegram in connecting Russian and Ukrainian troops with civilians during the war. She shares how the app facilitates critical communication and alerts. Meanwhile, Eswar Prasad, a Cornell University expert, discusses Thailand's innovative digital currency initiatives, providing insights into the future implications of central bank digital currencies and their potential to transform socio-economic landscapes.
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- Turkey's stock market is suffering due to high interest rates luring savers away from equities, signaling a shift in investor sentiment.
- Thailand's initiative to use digital wallets for financial aid illustrates potential applications of Central Bank Digital Currencies in modern economies.
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Turkish Stock Market Decline
Turkey's stock market is experiencing a downturn, with the BIST 100 index having dropped 8% in August after enjoying significant gains over the past two years. The index had more than doubled since 2022 as investors turned to equities amid rising inflation, seeking safe havens for their money. However, recent interest rate hikes by the central bank, now at 50%, have prompted savers to look for better returns elsewhere. As a result, foreign investors are pulling out their gains, leading to a shift in market sentiment regarding Turkish equities.
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