financialnews

The Central Bank of Turkey raised its inflation forecast for the end of the year to 24% on Thursday, up from the previous target of 16%, citing rising energy prices as the main driver for the revision.
Regulator chief Fatih Karahan stated that by the end of the year, the indicator might hit 26%. Annual inflation in April was 32.4%.

The offshore yuan to dollar (CNH/USD) exchange rate on the international forex market rose by 0.1% on Thursday, May 14, reaching 6.7816 yuan per dollar. This is the strongest the Chinese currency has been since February 8, 2023, when it hit 6.7737.
The onshore yuan to dollar (CNY/USD) also spiked, increasing by 0.09% to 6.7851 yuan per dollar. This is the highest point since February 9, 2023, when the rate was 6.7730 yuan per dollar.

Shares of Western Union Co (NYSE: WU) dropped by 3% on Wednesday after short-selling firm J Capital Research released a cautious report on the money transfer company, highlighting competitive pressure from digital payment platforms.
A research firm is raising concerns about Western Union's ability to compete in the digital economy, which is dominated by platforms like PayPal, Venmo, and Zelle. J Capital pointed out that the company primarily serves customers without bank accounts who need to send or receive cash. However, the number of unbanked individuals is steadily decreasing, and governmental oversight on cash transfers is tightening.

German insurer and reinsurer Talanx AG (ETR:TLXGn) announced on Wednesday a net profit for the first quarter of €774 million, which is 28% higher than the €604 million posted a year earlier and exceeds the company's consensus forecast of €673 million.
The group reported that operating profit jumped 27% to €1.61 billion for the three months ending March 31, compared to €1.27 billion a year earlier, beating the consensus forecast of €1.47 billion. Insurance revenue came in at €12.07 billion versus €12.36 billion a year prior.

The US government recorded a budget surplus of $215 billion in April, which is $43 billion, or 17%, less compared to the $258 billion surplus in the same month last year, the Treasury Department reported on Tuesday.
The drop is attributed to an increase in tax refunds and a rise in expenditures, including higher interest payments and military spending related to the war in Iran.

The most attractive asset on the Russian market in April was corporate bonds - papers with a BBB credit rating: their total yield in rubles was 2%. Coming in second were papers with an AAA rating - 1.8%, and in third were A-rated papers yielding 1.7%. This is mentioned in the "Financial Markets Risk Review" released by the Bank of Russia for April 2026.

Since May 12, VTB has lowered the rate on deposits, according to the updated tariffs on the credit organization’s website.
For the deposit "VTB-Deposit", the maximum rate has been cut for a two-month term to 14.0% per annum (previously 14.1%) for new clients. Rates for other terms remain unchanged. For new funds during this period, the rate is still set at 12.4% per annum.

Norway expects to rake in 721.1 billion kroner ($78.71 billion) in state revenues from oil and gas production this year, the government reported on Tuesday. This figure exceeds the initial forecast of 557.4 billion kroner — the increase is driven by rising energy prices amid the conflict involving Iran.

Back in early April, Anna* had a tough time at the gas station in Germany when her Sparkasse Düsseldorf card wouldn't go through. It was only after she called the bank that she found out her account was locked. Turns out, she needed to show her residency permit. "I know half the staff personally since I run a business, and all my documents have been with them for ages," says the client. According to Anna, it took nearly three weeks to get her account unlocked. She runs a real estate agency and has a lot of Russian-speaking clients, some of whom also had their accounts frozen without a heads-up. "People have been living in Germany for a long time, paying taxes; it’s not cool to make them jump through hoops to prove they're not a camel," says Anna.

India's Prime Minister Narendra Modi has urged citizens to cut back on gold purchases for at least a year to preserve the country's foreign reserves. This statement came as a surprise in India, where gold is a key asset not only for saving but also plays a significant role in weddings, religious celebrations, and everyday financial culture, reports Bloomberg.

A major update just dropped via Bloomberg! A former Governor of the Reserve Bank of India (RBI) has issued a crucial piece of advice to the central bank regarding currency management.
The Core Message:
The former governor is urging the RBI to exercise caution in its currency intervention strategies. The emphasis is on moving away from excessive control and focusing on "opening up" India’s markets to global forces. 📉
Why This Matters for Traders & Investors:
INR Volatility: If the RBI reduces its intervention, expect the Indian Rupee (INR) to face higher volatility against the USD.Market Growth: Long-term, this move is designed to foster a more mature and stable market environment, attracting global investors.The Crypto/P2P Angle: For those trading USDT/INR, keep a close eye on the rates. Any sudden move in the Rupee will reflect immediately on P2P platforms! 💹
Final Take: Strategic planning is the backbone of economic stability. While excessive intervention can provide short-term relief, "letting the market breathe" is essential for long-term growth.
Stay Alert. Stay Informed. 🚦
#RBI #EconomyUpdat #Bloomberg #USDT #FinancialNews

Since the start of 2026, the Israeli shekel has appreciated nearly 10%. This is the second-largest gain among the currencies tracked by Bloomberg. On Thursday, May 7th, the dollar to shekel exchange rate momentarily dropped by 0.18%, hitting 2.8975 shekels per dollar. This marks a new record high in the last 33 years—since 1993.

The Saudi Arabian Sovereign Wealth Fund (PIF) confirmed on Thursday, May 6, that it will stop funding the LIV Golf professional men's tour at the end of the current season. The reason is a shift in investment strategy and "current macroeconomic dynamics" amid the ongoing conflict in the Middle East.

Telecom Italia reported Q1 revenue of €3.3 billion, which is a 1.4% increase year-over-year, but slightly missed the analyst consensus forecast of €3.34 billion. The temporary dip in earnings from virtual mobile operators (MVNOs) put pressure on internal metrics.

The EU's expenses in relation to the "most serious energy crisis in history" have surpassed €30 billion. This was stated on Tuesday, May 5, by the European Commissioner for Energy, Dan Jørgensen, in Brussels. "Since the beginning of the conflict in the Middle East, EU member states have already shelled out over €30 billion on fossil fuel imports," the dpa agency quoted him. "The world is facing what might be the most serious energy crisis in history, testing the resilience of our economies, our societies, and our partnerships," Jørgensen added.

Revolut's Mexican arm, which rolled out full banking operations this year, announced it secured about $64 million in capital back in April. The fintech is pumping funds into growth in this key market: Mexico is the first country outside of Europe where Revolut is operating as a bank. In this space, it's going head-to-head with startups like Plata and Novacard.

As part of its business reorganization program, PayPal is gearing up to cut 20% of its workforce, as reported by The Wall Street Journal. This news coincided with the company's quarterly earnings release. PayPal's profits for the past quarter exceeded analyst expectations, but a weak forecast for Q2 2026—where the company anticipates a 9% drop in profits over the next three months—crashed the shares of the payment giant. PayPal's stock nosedived by more than 10%, but then slowed down the pace of its decline.