
AI-generated summary
Istanbul Financial Center is an institution established to increase the international competitiveness of Türkiye's financial sector. WAIFC is a global organization that enables international financial centers to cooperate with each other.
With Erdem on the board of directors, Istanbul Financial Center will take a more active role in efforts to develop cooperation between international financial centers. Istanbul Finance Center will also host the WAIFC Annual General Assembly Meeting to be held in 2027. Regarding his new position, Ahmet İhsan Erdem said, "We see this task as an important opportunity to represent Istanbul and Turkey's financial ecosystem more strongly on international platforms."
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The Financial Stability Committee (FIK) will meet tomorrow at 08.00 under the chairmanship of the Minister of Treasury and Finance, Mehmet Şimşek, to evaluate the developments in the financial markets. Information about the meeting was provided on the N Social account of the Ministry of Treasury and Finance.

The Ministry of Commerce announced that it will inspect the buying and selling prices of markets while continuing its investigation into the fruit and vegetable sector within the scope of combating exorbitant prices. Price differences are analyzed by requesting 3-month input-output prices and taking into account costs such as rent and labor. While situations such as the sale of a product for 10 lira for 40 lira are being examined, complaints received through CİMER and the 'Unfair Price Increase' application are also evaluated.

The Federal Reserve took its interest rate decision unanimously with the full participation of 12 members. High inflation and the increase in energy prices were on the agenda of the meeting. Markets are now focusing on the Fed's future interest rate policy, and the possibility of an interest rate increase for 2026 remains on the agenda. While oil prices rose due to the impact of the Iran war, US President Donald Trump demanded that interest rates be reduced to 1 percent or lower.

BIST 100 index lost 5.54 percent of its value and finished the day at 13,122.58 points. While banking and holding indices also showed significant losses, the financial leasing and factoring sector lost 9.74% as the sector that lost the most value. The Ministry of Treasury and Finance called the Financial Stability Committee for a meeting at 08:00 today, regarding the developments in the markets.

Domestic automobile manufacturer Togg announced with an official statement that the number of vehicles on the roads has reached 120 thousand. The basis of success was the user-oriented approach and brand loyalty. The success shows the growth in the Turkish market and the transformation in the domestic automotive industry.
Former US President Donald Trump demanded on his social media account that interest rates be brought down to 1 percent or lower. Trump stated that the USA has the best credit in the world, shared his statements about the trade deficit and reminded that the Fed will increase interest rates for the first time in September 2023.