Latest news with #CBRT
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
Turkish inflation projected to drop to 29.86% by 2025 end: CBRT survey
Turkish inflation is projected to drop to 29.86 per cent by the end of this year, while the country's central bank (CBRT) is expected to return to rate cuts next month, a CBRT survey of market participants for June revealed. That is down from 30.35 per cent in the previous month's survey. Inflation dipped to 35.4 per cent in May compared to around 75 per cent a year ago. Turkish inflation is projected to drop to 29.86 per cent by the 2025 end, while the country's central bank (CBRT) is expected to return to rate cuts next month, a CBRT survey of market participants for June revealed. That is down from 30.35 per cent in the previous month's survey. Markets see inflation 12 months from now falling to 24.56 per centâ€'down from 25.06 per cent in the previous survey. Treasury and finance minister Mehmet Simsek last week cited stickiness in services inflation, which, he said, was preventing further improvement in headline consumer price inflation. Markets see inflation 12 months from now falling to 24.56 per cent, the survey showed. That is down from 25.06 per cent in the previous survey. The 24-month-ahead forecast eased to 17.35 per cent, down from 17.77 per cent. Market participants expect the central bank to keep its benchmark one-week repo rate unchanged this week, but project a three-percentage-point cut in July. They see the rate falling to around 40 per cent in September, before ending the year at around 36 per cent. A year from now, the key policy rate is estimated to be around 29 per cent. Survey participants now expect the lira-dollar exchange rate to be 43.57 by the end of 2025, slightly below the previous forecast of 43.70. However, the 12-month ahead forecast for the exchange rate increased to 47.04, up from 46.62 in the last survey. Fibre2Fashion News Desk (DS)
Qatar Tribune
4 days ago
- Business
- Qatar Tribune
Markets price in July rate cut as Turkey inflation outlook improves
Agencies Inflation in Turkey is projected to drop below 30% by the end of the year, while the country's central bank is expected to return to rate cuts as of next month, a latest survey showed on Monday. Markets are forecasting inflation cooling to 29.86% by the end of 2025, according to the Survey of Market Participants for June by the Central Bank of the Republic of Turkey (CBRT). That is down from 30.35% in the previous month's survey. Aggressive monetary tightening since mid-2023, combined with favorable energy prices, has helped reduce Turkey's annual inflation rate by half over the past year. The inflation lastly dipped to 35.4% in May, compared to around 75% a year ago. The central bank has repeatedly cited expectations as one factor determining the course of its monetary policy. The bank last month maintained its year-end mid-point estimate for the consumer price index (CPI) at 24%, with an upper band of 29%. Turkish officials continue to emphasize that inflation will remain within this forecast band. Treasury and Finance Minister Mehmet Şimşek on Thursday cited stickiness in services inflation, which he said was preventing further improvement in headline CPI. Still, Şimşek said inflation could end the year in the 20s, stressing a steep fall in basic goods prices. The CBRT pivoted to raising its key policy rate by 350 basis points this April to 46% and pushed the overnight lending rate to 49% after Turkish assets and the lira fell sharply after Istanbul Mayor Ekrem Imamoğlu was jailed pending trial over graft charges. Before that, the bank had begun an easing cycle and gradually cut its one-week repo rate to 42.5% in March as inflation fell from the level of more than 75% that it reached in May 2024. The sharper-than-anticipated slowdown in inflation last month has reignited speculation that the bank could resume rate cuts soon. Markets see inflation 12 months from now falling to 24.56%, the CBRT survey showed. That is down from 25.06% in the previous survey. The 24-month-ahead forecast eased to 17.35%, down from 17.77%, the bank said. Market participants expect the central bank to keep its benchmark one-week repo rate unchanged this Thursday but project a three percentage point cut in July. They see the rate falling to around 40% in September before ending the year at around 36%. A year from now, the key policy rate is estimated to be around 29%. Survey participants now expect the lira/dollar exchange rate to be 43.57 by the end of 2024, slightly below the previous forecast of 43.70. However, the 12-month ahead forecast for the exchange rate increased to 47.04, up from 46.62 in the last survey period. The Survey of Market Participants is conducted monthly. The panel consists of 72 participants, 54 of whom are experts in the financial sector and 18 of whom are experts in the real sector.
Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
China's PBOC renews bilateral currency swap pact with Turkiye's CBRT
China's central bank recently renewed a bilateral currency swap agreement with its Turkish counterpart. The value of this three-year agreement is 35 billion yuan ($4.88 billion), or 189 billion Turkish lira, the People's Bank of China (PBOC) said in a statement. The agreement was signed by the Central Bank of the Republic of Turkiye (CBRT) governor Fatih Karahan and PBOC governor Pan Gongsheng, said a CBRT statement. China's central bank (PBOC) has renewed a bilateral currency swap agreement with its Turkish counterpart. The value of this three-year agreement is 35 billion yuan ($4.88 billion, 189 billion Turkish lira), PBOC said. The agreement, first signed in 2019 and expanded in 2021, can be renewed upon mutual consent. The two sides also signed an MoU to set up a yuan clearing arrangement in Turkiye. The agreement, first signed in 2019 and expanded in 2021, can be renewed upon mutual consent. Currency swap lines are used by central banks to facilitate bilateral trade, enhance financial cooperation and provide liquidity support in local currencies. The two sides also signed a memorandum of understanding to set up a yuan clearing arrangement in Turkiye. These arrangements are expected to facilitate the use of local currencies by enterprises and financial institutions on both sides for cross-border settlements, a state-controlled Chinese media outlet reported citing the PBOC statement. Fibre2Fashion News Desk (DS)
Associated Press
12-06-2025
- Business
- Associated Press
First Onsite Strengthens Biohazard Leadership in San Antonio with addition of Certified Trauma Specialist Jordan Frady
SAN ANTONIO, Texas, June 12, 2025 (GLOBE NEWSWIRE) -- First Onsite Property Restoration (First Onsite), one of North America's largest disaster recovery and restoration providers for commercial enterprises, today announced a major expansion of its highly-specialized response capabilities. This strategic focus is marked by the addition of Jordan Frady, a highly credentialed trauma and environmental remediation expert, to the company's San Antonio branch. Frady brings a rare combination of field-tested technical skill and compassion to trauma scene cleanup, microbial remediation, and regulated government projects. His appointment strengthens First Onsite's presence in Texas and the broader Southwest and supports the company's commitment to building elite specialty teams across North America. 'Jordan's technical acumen and his empathy in the field make him a rare talent in this industry,' said Tom Licker, Senior Vice President, Regulatory Business Practice at First Onsite. 'His arrival not only strengthens our biohazard footprint but reflects our commitment to doing this work the right way — with compassion, compliance, and unmatched care for people and property.' A retired U.S. Marine, Frady holds numerous advanced certifications, including Certified Bio-Recovery Technician (CBRT) through the American Bio Recovery Association, HAZWOPER 40-Hour, HAZWOPER Train-the-Trainer, Trauma and Crime Scene Technician (TCST), Health and Safety Technician (HST), and OSHA 10-hour safety training. He previously served as a supervisor at BioTechs, where he managed complex trauma and environmental cleanup projects for both residential and municipal clients. Frady's on-the-ground experience with organizations like the San Antonio Police Department and San Antonio Housing Authority makes him uniquely equipped to handle regulated, emotionally sensitive work with discretion and professionalism. His presence turns the San Antonio office into a regional center of excellence for trauma response and specialty remediation. 'This work is about more than cleaning — it's about restoring dignity,' said Jordan Frady. 'When people call us, they're often facing one of the hardest moments of their lives. I take pride in bringing safety, calm, and compassion to every scene. First Onsite shares that same vision.' This move reflects broader trends in the restoration industry, where demand is rising for professionals trained not only in compliance and safety, but also in human-centered service. First Onsite continues to meet this need by hiring leaders who understand the gravity of biohazard work and the importance of empathy during crisis recovery. 'Jordan is part of a new generation of restoration professionals — experts who restore not just buildings, but peace of mind,' added Licker. 'His work raises the bar for what trauma cleanup should look like: safe, respectful, and rooted in compassion.' Understanding biohazard response for property owners Whether dealing with a crime, trauma, suicide, or infectious disease outbreak, proper biohazard cleanup is critical. When first responders or health officials complete their work, property owners are often left to manage hazardous and emotionally challenging scenes. Without certified remediation and strict protocols, these sites can present ongoing health, safety, and even legal risks. First Onsite's Environmental And Bio Recovery Teams are equipped to manage risks, mitigate threats, and restore properties from biological hazards that endanger people and animals. These include medical waste, bloodborne pathogens, biological toxins, sharps and needles, trauma scenes, and controlled substances. About First Onsite: North America's Trusted Leader in Property Restoration First Onsite Property Restoration is one of the largest and fastest-growing emergency response planning, mitigation, and reconstruction service providers in North America. First Onsite employs over 2,500 team members and operates from more than 100 locations across Canada and the U.S. With a culture focused on harnessing the human power of its team members and a commitment to doing what's right, the First Onsite team helps clients restore, rebuild, and rise. First Onsite is a subsidiary of FirstService Corporation. For more information, go to or follow @firstonsite on LinkedIn. Press Contact: Julia Koichopolos MAVERICK Public Relations M: 416-938-2882 E: [email protected]
Yahoo
12-06-2025
- Business
- Yahoo
First Onsite Strengthens Biohazard Leadership in San Antonio with addition of Certified Trauma Specialist Jordan Frady
Retired Marine and Certified Bio-Recovery Technician brings compassion, compliance focus, and crisis response experience to company's San Antonio branch SAN ANTONIO, Texas, June 12, 2025 (GLOBE NEWSWIRE) -- First Onsite Property Restoration (First Onsite), one of North America's largest disaster recovery and restoration providers for commercial enterprises, today announced a major expansion of its highly-specialized response capabilities. This strategic focus is marked by the addition of Jordan Frady, a highly credentialed trauma and environmental remediation expert, to the company's San Antonio branch. Frady brings a rare combination of field-tested technical skill and compassion to trauma scene cleanup, microbial remediation, and regulated government projects. His appointment strengthens First Onsite's presence in Texas and the broader Southwest and supports the company's commitment to building elite specialty teams across North America. 'Jordan's technical acumen and his empathy in the field make him a rare talent in this industry,' said Tom Licker, Senior Vice President, Regulatory Business Practice at First Onsite. 'His arrival not only strengthens our biohazard footprint but reflects our commitment to doing this work the right way — with compassion, compliance, and unmatched care for people and property.' A retired U.S. Marine, Frady holds numerous advanced certifications, including Certified Bio-Recovery Technician (CBRT) through the American Bio Recovery Association, HAZWOPER 40-Hour, HAZWOPER Train-the-Trainer, Trauma and Crime Scene Technician (TCST), Health and Safety Technician (HST), and OSHA 10-hour safety training. He previously served as a supervisor at BioTechs, where he managed complex trauma and environmental cleanup projects for both residential and municipal clients. Frady's on-the-ground experience with organizations like the San Antonio Police Department and San Antonio Housing Authority makes him uniquely equipped to handle regulated, emotionally sensitive work with discretion and professionalism. His presence turns the San Antonio office into a regional center of excellence for trauma response and specialty remediation. 'This work is about more than cleaning — it's about restoring dignity,' said Jordan Frady. 'When people call us, they're often facing one of the hardest moments of their lives. I take pride in bringing safety, calm, and compassion to every scene. First Onsite shares that same vision.' This move reflects broader trends in the restoration industry, where demand is rising for professionals trained not only in compliance and safety, but also in human-centered service. First Onsite continues to meet this need by hiring leaders who understand the gravity of biohazard work and the importance of empathy during crisis recovery. 'Jordan is part of a new generation of restoration professionals — experts who restore not just buildings, but peace of mind,' added Licker. 'His work raises the bar for what trauma cleanup should look like: safe, respectful, and rooted in compassion.' Understanding biohazard response for property ownersWhether dealing with a crime, trauma, suicide, or infectious disease outbreak, proper biohazard cleanup is critical. When first responders or health officials complete their work, property owners are often left to manage hazardous and emotionally challenging scenes. Without certified remediation and strict protocols, these sites can present ongoing health, safety, and even legal risks. First Onsite's Environmental And Bio Recovery Teams are equipped to manage risks, mitigate threats, and restore properties from biological hazards that endanger people and animals. These include medical waste, bloodborne pathogens, biological toxins, sharps and needles, trauma scenes, and controlled substances. About First Onsite: North America's Trusted Leader in Property RestorationFirst Onsite Property Restoration is one of the largest and fastest-growing emergency response planning, mitigation, and reconstruction service providers in North America. First Onsite employs over 2,500 team members and operates from more than 100 locations across Canada and the U.S. With a culture focused on harnessing the human power of its team members and a commitment to doing what's right, the First Onsite team helps clients restore, rebuild, and rise. First Onsite is a subsidiary of FirstService Corporation. For more information, go to or follow @firstonsite on LinkedIn. Press Contact:Julia KoichopolosMAVERICK Public RelationsM: 416-938-2882E: julia@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
