Business

Tencent posts a surprise profit drop as regulators hobble games

Tencent posts a surprise profit drop as regulators hobble games

The Chinese tech conglomerate said that its net income for the three months that ended in June was 17.9 billion yuan ($2.6 billion), a decline of 2% compared to the same period past year. Lau said Monster Hunter was blocked because its content "was not exactly compliant", adding Tencent was working with the developer to adjust the content for future approval.


Detained Pastor Brunson causing Turkey-U.S. tension files fresh appeal

Detained Pastor Brunson causing Turkey-U.S. tension files fresh appeal

There is an increasing risk of lower-level Turkish officials, acting on their own initiative, taking measures against U.S. individuals and companies, including arbitrary regulatory inspections, scrutiny over existing state contracts, as well as deliberate difficulties for USA citizens in customs.



Turkey issues retaliatory tariffs on U.S. imports

There are certain emerging market countries with relatively weak currencies and a heavy reliance on external (predominately dollar-based) financing. There was a clear, sharp drop in the lira's value on Friday after Trump tweeted he was doubling tariffs on Turkish steel and aluminum, citing a national security threat, and a smaller decline when the US sanctioned Turkey's Interior and Justice Ministers on August 1.


Oil dips on rising USA crude inventories

Oil dips on rising USA crude inventories

Investors are now seen weighing bullish factors that include potential supply disruptions to Iranian crude exports against more bearish indicators, such as broad greenback strength and a ramp-up in production by OPEC and its allied partners.


How Turkey and Trump shot down the Australian dollar

How Turkey and Trump shot down the Australian dollar

Erdogan also said Turkey was boycotting United States electronic products. "If they have iPhones , there is Samsung on the other side". "They do not refrain from using the economy as a weapon against us, as they tried in the areas of diplomacy, military, or efforts for social and political instability", Erdogan said.