Currency weakness and subdued demand continued to plague Turkish manufacturing in October, with the sector suffering its 19 consecutive month of contraction, according to the latest Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers’ Index (PMI). The headline PMI registered at 46.5 in October, down fractionally from 46.7 in September and the lowest reading in three months (any figure below 50.0 denotes a contraction), said survey publisher S&P Global. Andrew Harker, economics director at S&P Global Market Intelligence, said: 'Muted demand conditions again set the scene for ...
By Editorial Abu Dhabi’s campaign to cement its long-term market influence is accelerating, with comments reported by Bloomberg this week suggesting its flagship $30bn offshore expansion is running ahead of schedule. The timeline for expanding the vast Upper Zakum oilfield – the world's second-largest offshore and fourth-largest overall – is being compressed. A key partner is signalling that the project will likely achieve its 1.5mn barrel-per-day (bpd) capacity target well ahead of the 2030 deadline. Speaking to Bloomberg during the ADIPEC conference, ExxonMobil CEO Darren Woods, a partner in...
Longtime Republican strategist Karl Rove is cautioning Democrats from being overconfident heading into Tuesday's high-profile elections taking place across several states. Mediaite reported Monday that Rove told Fox News that even though polls show Democrats leading in the top three marquee contests of the evening — New Jersey and Virginia's gubernatorial elections and the New York City mayoral race — Republicans have reason to be hopeful in two of those three elections. He also argued that while Republicans will likely lose the gubernatorial election in reliably blue Virginia, they may captur...