Day: April 20, 2022

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Turkiye’s daily power consumption up 2.6% on April 19

Daily electricity consumption in Turkiye increased by 2.6% on Tuesday compared to the previous day, totaling 909,090 megawatt-hours, according to official figures of Turkish Electricity Transmission Corporation (TEIAS) on Wednesday.

Hourly power consumption peaked at 42,530 megawatt-hours at 15.00 local time (1200 GMT), data from TEIAS showed. The country’s electricity usage dropped to the lowest level of 30,303 megawatt-hours at 07.00 local time (0400 GMT).

Electricity production amounted to 907,991 megawatt-hours on Tuesday, marking an increase of 3.1% compared to Monday.

Electricity production from natural gas plants constituted 27.5% of total generation, while hydro and thermal power plants contributed 17.5% and 14.5%, respectively.

On Tuesday, the country’s electricity exports amounted to 10,932 megawatt-hours and imports totaled 12,031 megawatt-hours.

Source: Anadolu Agency

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Spot market electricity prices for Thursday, April 21

The highest electricity price rate for one megawatt-hour on Turkiye’s day-ahead spot market for Thursday will be 2,500 Turkish liras at 08.00 (0500 GMT) and between 17.00 and 23.00 local time (1200 – 2000 GMT), according to official figures on Wednesday.

The lowest is determined as 1,724.92 liras at 12.00 local time (0900 GMT), the figures show.

The Energy Exchange Istanbul (EXIST) data for the trade volume on Wednesday’s electricity market showed a decrease of 2.71% to 1.17 billion liras compared to Tuesday.

The arithmetical and weighted average prices of electricity on the day-ahead spot market are calculated as 2,183.79 liras and 2,176.99 liras, respectively.

The highest electricity price rate for one megawatt-hour for Wednesday was set as 2,500 liras at 08.00, 09.00 and 20.00 local time (0500, 0600 and 1700 GMT), with the lowest at 1,572.49 liras at 15.00 local time (1200 GMT).

US$1 equals 14.67 liras at 1118 GMT on Wednesday.

Source: Anadolu Agency

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Spot market natural gas prices for Tuesday, April 19

The trade volume on Turkiye’s spot natural gas market showed an increase of 806% to 134.50 million Turkish liras on Tuesday, Turkiye’s Energy Exchange Istanbul (EXIST) data showed on Wednesday.

Total trade on Monday amounted to 14.84 million liras.

On Tuesday’s spot market, 1,000 cubic meters of natural gas cost 11,957.86 liras, while the cumulative natural gas trade volume amounted to around 11.24 million cubic meters.

Turkiye received 170.53 million cubic meters of pipeline gas on Tuesday.

US$1 equals 14.67 liras at 1118 GMT on Wednesday.

Source: Anadolu Agency

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Turkiye mandates salmonella test for all Kinder products

Turkiye announced on Tuesday that all Kinder products will be tested against salmonella amid concerns of potential contamination.

According to the Turkish Agriculture and Forestry Ministry, salmonella has not been detected in any of the Kinder products in the country so far.

In a statement on Wednesday, manufacturer Ferrero Turkiye also confirmed that all Kinder products in the Turkish market are safe, but the frequency of microbiological analysis was increased.

Salmonella bacteria cause gastrointestinal disorders, which adversely affect young children, immunocompromised subjects, pregnant women, and the elderly. The symptoms include a high fever within 48 hours of consuming the contaminated products.

Salmonella outbreak at the Ferrero factory in Arlon, Belgium earlier this month has led the chocolate firm recalling batches of Kinder products in various countries.

Several salmonella cases have since been reported in EU countries and the UK, with the vast majority of those sick being younger than 10 years old.

Source: Anadolu Agency

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Central banks should act decisively against inflation, says IMF

The IMF on Tuesday said central banks around the world should act decisively against inflation as Russia’s invasion of Ukraine raised global financial stability risks.

“Severity of disruptions in commodity markets and to supply chains are creating downside risks by weighing adversely on macrofinancial stability, inflation, and the global economy,” the global body warned in its latest report.

According to the IMF, many central banks may have to move further and faster than what is currently priced in markets to contain inflation.

“This could bring policy rates above neutral levels and this is likely to lead to even tighter global financial conditions,” it noted.

The body also underlined the importance of central banks in developed economies to provide clear guidance on the tightening process while remaining data dependent.

To emerging markets, it recommended that they should continue monetary tightening depending on individual circumstances to “preserve their inflation-fighting credibility and anchor inflation expectations.”

War creates medium-term structural problems

The report also emphasized that the war in Ukraine raised a number of medium-term structural problems that policy makers would have to face in the coming years.

It said these issues would include fragmentation in capital markets, which “would have implications for the role of the US dollar.”

“Payment systems face similar risks as central banks seek to establish their own digital currencies that are independent of existing international networks,” it noted.

Pointing out that the war demonstrated the urgency of reducing reliance on carbon-intensive energy and accelerating the transition to renewable energy, the report said trading volumes of crypto assets against some emerging market currencies increased after sanctions against Russia and capital restrictions in Russia and Ukraine.

Source: Anadolu Agency

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Germany’s producer prices see record level in March

In March 2022, the index of producer prices for industrial products soared by 30.9% year-on-year in March, the historical high level.

According to official figures on Wednesday from Destatis, the index also rose by 4.9% on a monthly basis.

In February and January, the annual increases were 25.9% and 25%, it recalled.

Source: Anadolu Agency

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Eurozone, EU post foreign trade deficit in February

The trade deficit was €7.6 billion ($8.6 billion) in the euro area and €15.8 billion ($17.85 billion) in the EU, down from surplus of €23.6 billion ($28.55 billion) and €21.4 billion in February 2021, a Eurostat statement said.

The euro area or the EA19 represents the member states that use the euro as their single currency, while the EU27 includes all member countries of the bloc.

EUR/USD exchange rate was 1.13 in this February and 1.21 last February.

The eurozone’s exports totaled €215.8 billion, increasing 17% year-on-year in February, while imports rose by 38.8% to €223.4 billion.

In the EU, exports increased by 16.4% to €191.9 billion, while imports jumped by 44.7% to €207.7 billion in February on a yearly basis.

In January, Euro area trade balance registered a record high deficit of €27.2 billion ($30.1 billion).?

Two-month figures

During the January-February period, the eurozone’s trade balance saw a deficit of €34.9 billion, while exports and imports totaled €416.6 billion and €451.5 billion, respectively.?

In the EU side, the exports and imports totaled €371.4 billion and €424 billion, respectively, posting a €52.7 billion deficit in the two-month period.?

China was the EU’s main trading partner in January-February, with €94.9 billion in imports to the union and €34.8 billion in exports.?

Country-to-country trade balances indicated that the EU had incurred its largest deficit with China – €60.1 billion – and the highest surplus with the US – €24.6 billion – over the same period.

Turkiye was the union’s seventh-largest trading partner during the two-month period, with €13.7 billion in imports from the union and €15.2 billion in exports, seeing €1.4 billion in surplus.

Source: Anadolu Agency

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Willie Wilson is promising another $1 million in free gas but his giveaways raise campaign questions

Published by
Chicago Tribune

Chicago businessman and mayoral candidate Willie Wilson announced he will be giving away another $1 million in gas this Saturday, a move that will provide some relief for city motorists but also, once again, raises thorny questions about Wilson providing handouts to potential voters. In March, Wilson gave away $1.2 million in free gas over two events at several city and suburban gas stations. Citing skyrocketing gasoline prices in recent months, Wilson — who has a history of practicing sometimes unorthodox, grassroots philanthropy — said he is just trying to help struggling residents. But this… Continue reading “Willie Wilson is promising another $1 million in free gas but his giveaways raise campaign questions”

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These People Lost Respect In An Instant

Published by
Factinate

Most of the time, we give people the benefit of the doubt. After all, everybody makes mistakes, or gets nervous and does something stupid, and we try to offer them the same courtesy and kindness we’d want for ourselves. But sometimes, we witness an event that we can’t come back from. An action, or phrase, or secret that is so disturbingly revealing, we lose all respect for someone in an instant. 1. In Bed With The EnemyOh man. A co-worker was crying in the kitchen at work because she was so afraid of our boss, who would fly off the handle and be a complete jerk. Like, he’d start screaming and … Continue reading “These People Lost Respect In An Instant”