From the C-Suite: Insights and Advice from Corporate Leaders
11/20/2024
No Comments
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
December 23, 2022: Turkey declared a stroll of its lowest wage by 55% Thursday amid a cost-of-living crisis that has tumbled millions into financial hardship, hammered small businesses and rendered many unable to afford essential goods.
The move aims to ease the impact of growing living costs, but economists worry it will further surge inflation. The country’s official inflation rate is at a 24-year high of 84.4%.
In a televised speech from Ankara Thursday, Turkish President Recep Tayyip Erdogan said that the monthly minimum salary would be 8,500 lire ($455) starting in 2023. Over 30% of Turkey’s workforce is on the minimum salary, according to Turkish officials.
There is a political angle; country analysts said Turkey’s general election will be held in June 2023.
Timothy Ash, an ongoing markets strategist at BlueBay Asset Management, said in an email, “Motive win the election. Impact higher inflation.”
The country’s inflation rate slowed for the first time in over 18 months in November, up 84.4% annually, slightly decreasing from 85.5% the month.
“Minimum wage is on the top in Turkey in the previous 20 years,” Ragip Soylu, Turkey bureau chief for Middle East Eye, tweeted. “It will go well with Erdogan’s core voters as it did in July.
He will get some points. However, it will be essential to see whether the impact will continue until the presidential elections.”
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
Corporate leaders today stand at the nexus of unprecedented technological evolution, where digital transformation reshapes industries and redefines …
Corporate leaders stand at the helm of their organizations, often tasked with making decisions that can steer their companies toward …
Corporate leaders are often tested by crises that threaten the very foundation of their organizations. How do these leaders navigate turbulent …
In the vast and often tumultuous seas of corporate leadership, have you ever wondered how some captains …
In the high-stakes game of corporate leadership, where every decision reverberates through the echelons ….
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
The United Kingdom’s economy has experienced a disappointing period of stagnation, contracting by 0.1% in September. This contraction …
Appaloosa Management, a prominent hedge fund led by billionaire investor David Tepper, significantly increased its stake …
The e-commerce giant Amazon has introduced a new discount store offering a wide range of products priced under $20. This …
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
