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Russians are spending more on food as non-food expenditures decrease. This trend is evident in rising food spending shares at shopping centers and among city dwellers, while demand in areas like beauty, health, and electronics is declining.
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Turkey has raised its inflation forecast for the end of the year to 28.4%. The Middle East war is cited as the main reason for the adjustment, with estimated impacts of around seven percentage points on inflation.
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The convicted war criminal Ratko Mladić is to be buried in Belgrade with state honors. EU Enlargement Commissioner Dubravka Šuica subsequently canceled a planned trip to Serbia.
Companies & MarketsFinance & Stock MarketLaws & Rights
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Two luxury apartments in London, allegedly owned by Mojtaba Khamenei through a straw man, are being auctioned due to missed mortgage payments. The straw man, Ali Ansari, was sanctioned for misusing Iranian public funds and financing the Iranian Revolutionary Guard.
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Turkey plans to privatize the two Bosphorus bridges and eight highways for 30 years, with ownership remaining with the state. The awarding of operating rights is expected to be completed by the end of 2031.
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US national debt has surpassed 40 trillion dollars, with interest payments now exceeding defense spending. Economists warn this comes at the expense of future investments, though an immediate default is unlikely.
Local PoliticsHousing & Urban DevelopmentTransport Policy
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A new bike path in Ettlingen features lights that cannot be switched on due to a lack of permits and environmental concerns. Responsibility for activating the lighting remains unclear.
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A turbulent session in the Polish parliament saw Prime Minister Tusk reveal details from investigations into a crypto exchange scandal, naming former Justice Minister Zbigniew Ziobro. An attempt to override a presidential veto on a cryptocurrency law failed.
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The funeral of convicted war criminal Ratko Mladić is taking place in Belgrade, but without state or military honors. The Serbian government denies accusations of glorification, while the EU criticizes this as incompatible with its values.
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At least five shots were fired at a bar in Cologne, leaving four bullet holes in the facade. Police are searching for two suspects and investigating possible links to two other attacks on Turkish restaurants this week, which may involve extortion attempts.
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