US Federal Reserve

The Federal Reserve hiked interest rates for the first time in nearly a decade on Dec. 16, signaling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis.

A potential increase in short-term interest rates by the Federal Reserve (Fed) after this week's FOMC meeting would confirm that the U.S. economic expansion remains on track, but higher rates could bring risks to some emerging market sovereigns, said Moody's Investors Service in a note on Dec. 14

?zmir's keyboard-happy online youth treat the Russian crisis as a joke, but Izmir's producers of fruit and vegetables, worry that the crisis is far too costly to be a laughing matterThe air is heavy with the smell of milk, vanilla and coffee. The strange marriage of wrought iron dominates the decorations. The coffee-counter sports strange flasks that should belong in a lab.

After a long buildup that stirred waves of turbulence in global markets, the Federal Reserve finally is expected to end its seven-year crisis stance with an interest rate increase on Dec. 16.

Most bets are that the Fed will increase the benchmark federal funds rate for the first time in nearly a decade, signaling confidence in U.S. economic growth even as the rest of the world sags.

After a tough seven-day journey from Edinburgh, Turkey's first Indian rhino Samir has arrived in the Dar?ca Faruk Yalç?n Zoo and Botanical Park in the northwestern province of Kocaeli's Dar?ca district. 

A female rhino will also be brought over next year for the seven-year-old, 3.5-ton Samir. 

Facebook CEO Mark Zuckerberg and his wife Priscilla Chan welcomed their newborn daughter to the world with – what else – but a Faceboo post… While that in itself came as no surprise, the news that they’ll donate 99% of their Facebook shares (around $45 bln) to a new foundation to “promote equality for all children in the next generation” was a welcome surprise.

Nobel laureate economist Joseph E. Stiglitz spoke about Greece during athe conference of UNIDO in Vienna. A keynote speaker at the event, he was asked by reporters about Greece and said that the country is under strong pressure as a result of austerity measures while it is also being called on to assume the burden of the refugee crisis.

When a Russian jet violated Turkish airspace for 17 seconds, it was shot by Turkish war planes. I think Putin will make us all pay for these 17 secondsI wish I could write about these incredibly important 17 seconds, the time frame the Russian jet violated the Turkish airspace. It flew in and it flew out of Turkish airspace in 17 seconds. Wow. And it was shot by Turkish war planes. Yes. 

Bulgaria said on Wednesday that supplies of Russian natural gas to the country and the volumes for transit to its neighbours are flowing normally - several hours after Russia said it has stopped supplying gas to Ukraine.

Bulgaria, which is almost entirely dependent on Russia for its gas imports, receives them via a transit pipeline crossing Ukraine and Romania.

Minutes of the Federal Reserve's late October policy board meeting confirmed Nov. 18 that participants expected to begin raising interest rates in December.