The crash in the Turkish lira sparked by US sanctions has left President Recep Tayyip Erdogan facing the biggest economic challenge of his one-and-a-half decades in power. The lira has recently clawed back some of its losses, but economists say Turkey still urgently needs to address imbalances in its economy and avert a full-blown crisis. The fragility of the currency was highlighted again on Friday when Standard and Poor's and Moody's both downgraded Turkey's debt ratings within hours of each other.
PARIS, A satellite designed to measure Earth's global wind patterns is set to be hoisted into orbit Tuesday from the Arianespace launch site in French Guiana. The European Space Agency's (ESA) Aeolus mission — named for the guardian of wind in Greek mythology — promises to improve short-term weather forecasting and our understanding of manmade climate change. "Meteorologists urgently need reliable wind-profile data to improve accuracy," the ESA said in a statement. Tropical winds in particular are very poorly mapped because of the almost complete absence of direct observations. Once in orbit, Aeolus can retrieve data from anywhere on the planet, include remote regions lacking ground-based weather
Ghana is backpedalling out of a banking crisis as the government takes on debt to save a troubled sector and vows to punish the executives responsible. Early in August, Ghana's central bank revoked the licenses of five local banks and combined them into one -- the newly created state-run Consolidated Bank -- issuing 5.8 billion cedis ($1.2 billion) in bonds to clear their debt. The Bank of Ghana (BoG) accused the collapsed banks of a range of issues, including poor corporate governance, questionable transactions and dishonest reporting.
ACCRA, Ghana (AP) — Kofi Annan, a charismatic global diplomat and the first black African to become United Nations secretary-general who led the world body through one of its most turbulent periods, died early Saturday at age 80.