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  • Turkish economy board eyes deposits as tax hike sparks questions before potential cut

    Turkish economy board eyes deposits as tax hike sparks questions before potential cut

    Photo illustration shows the Istanbul Finance Center alongside Central Bank of the Republic of Türkiye (CBRT) Governor Fatih Karahan. (Collage by Türkiye Today/Mehmet Akbas)

    July 12, 2025 03:18 PM GMT+03:00

    Turkish policymakers are closely monitoring deposit trends as the central bank governor Fatih Karahan implied Friday that changes in local Turkish lira deposit trends may affect the monetary policy, only one day after the government raised taxes on financial returns.

    Karahan’s remarks came during a private meeting in London, prompting questions about the timing of the tax adjustment as the central bank prepares for a potential rate cut in July.

    Turkish Central Bank Governor Fatih Karahan delivers a presentation on the Bank’s operations, as required by law, before the Planning and Budget Committee at the Turkish Parliament in Ankara, Türkiye, on May 6, 2025. (AA Photo)

    Turkish Central Bank Governor Fatih Karahan delivers a presentation on the Bank’s operations, as required by law, before the Planning and Budget Committee at the Turkish Parliament in Ankara, Türkiye, on May 6, 2025. (AA Photo)

    CBRT sees local savers’ deposit trends as key policy signal

    The Central Bank of the Republic of Türkiye (CBRT) is closely monitoring Turkish lira deposits held by local savers, viewing trends in these accounts as a key indicator for monetary policy, Karahan said, according to Bloomberg.

    This is seen as a signal of the Turkish central bank’s cautious stance on resuming interest rate cuts, suggesting that the state of local deposits will have a substantial impact on upcoming decisions, according to the cited sources.

    New taxes on Turkish savers amid optimism over rate cuts

    According to a decree published in the Official Gazette on Wednesday, the withholding tax on Turkish lira time deposits was raised from 15% to 17.5% for maturities up to six months, and from 12% to 15% for terms up to one year. The 10% rate for deposits exceeding one year remains unchanged. Investment funds were also subject to a tax increase, with the withholding rate rising from 15% to 17.5%. However, non-resident investors are not subject to these rates.

    The adjustment was introduced following a positive week in Turkish markets, as annual inflation eased to 35.05% in June—beating forecasts and reinforcing expectations for long-awaited rate cuts by the Turkish central bank in July.

    A visual comparison of Türkiye’s annual inflation rate and the central bank’s policy interest rate from June 2024 to June 2025. (Chart by Onur Erdogan/Türkiye Today)

    A visual comparison of Türkiye’s annual inflation rate and the central bank’s policy interest rate from June 2024 to June 2025. (Chart by Onur Erdogan/Türkiye Today)

    Deposit volumes shrink despite 58% yield

    The policy rate has remained at 46% since April, while market expectations for the July meeting point to a cut of 250 to 350 basis points, with both domestic and international institutions anticipating easing within that range.

    Despite the weighted average interest rate on deposits with maturities of up to three months remaining high at around 58% during the week ending July 4, total deposits in Türkiye’s banking sector declined by ₺522 billion ($13 billion), falling to ₺23.7 trillion. This included a 3.4% drop in Turkish lira deposits and a 1.7% decrease in foreign currency holdings.

    The new tax adjustment is expected to put additional pressure on local deposit levels, potentially accelerating the decline in domestic savings.

    The Turkish central bank’s next monetary policy meeting is scheduled for July 24.

    July 12, 2025 03:18 PM GMT+03:00

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  • Stem Cell Treatment to Reverse Hearing Loss Kicking Off in Human Patients

    Stem Cell Treatment to Reverse Hearing Loss Kicking Off in Human Patients

    Image by Getty / Futurism

    The first-ever human trial exploring the use of stem cell therapy to reverse hearing loss is about to be under way, after getting the go-ahead from the UK’s Medicines and Healthcare products Regulatory Agency.

    Conducted by researchers from the University of Sheffield who formed their own spin-out company, the treatment targets sensorineural hearing loss, which is caused by physical damage to the tiny structures of the inner ear. 

    In a nutshell, the treatment, dubbed Rincell-1, is intended to regrow damaged nerves in the cochlea and allow them to start sending signals to the brain again.

    “Our research into Rincell-1 has consistently shown its ability to target and restore the delicate neural structures of the inner ear,” Marcelo Rivolta from the University of Sheffield, chief scientific officer at the spin-out biotech company Rinri Therapeutics, said in a statement about the work.

    More than a billion people worldwide are affected by some form of hearing loss, according to the WHO. Existing treatments, like cochlear implants, don’t fully restore a patient’s hearing, and require that the cochlea — the center piece of the inner ear that picks up sound and turns it into electrical signals — isn’t significantly damaged to begin with.

    Key to the cochlea’s function are the hair cells that line its surface, which are responsible for detecting sound. If these are severely damaged, it’s game over: the hair cells are incapable of dividing to form new ones, meaning that they don’t regenerate. This is called sensorineural hearing loss, and it’s why your hearing inevitably worsens with age.

    Attempts to regrow these receptors have long been the white whale of modern medical science, and the researchers hope they’ve found it in Rincell-1. The treatment uses embryonic stem cells designed to grow into auditory neuron cells, which form the wiring that connects the hair cells to the brain stem. These are administered into the cochlea during the surgery to emplace the cochlear implants. Once on site, the stem cells form auditory neurons that help reconnect the out-of-commission hair cells so they can send signals again.

    “We are taking the approach of transplanting in cells that can become functional mature cells and restore the cytoarchitecture of the inner ear, and therefore, restore hearing,” Simon Chandler, CEO of Rinri Therapeutics, told Labiotech on an episode of its “Beyond Biotech” podcast in June.

    The randomized trial will be conducted in the UK and will involve 20 patients who will undergo cochlear implant surgery. Half of the patients will have severe-to-profound age-related hearing loss, known as presbycusis, and the remainder will have what’s known as auditory neuropathy spectrum disorder (ANSD), which is when the inner ear can detect sound but is unable to send the signals to the brain. Patients within each group will be randomly assigned to either receive a single dose of Rincell-1, or receive no dose and rely on the cochlear implant alone.

    On the podcast, Chandler said that the Rincell-1 treatment can be used alongside cochlear implants, but didn’t rule out the possibility that it would be used on its own, too. Needless to say, it’d be a game-changer if it turns out to be effective in either scenario.

    More on stem cells: Diabetic Woman No Longer Needs Insulin After Single Dose of Experimental Stem Cells

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  • Escaped capybara forces temporary closure of Jersey Zoo

    Escaped capybara forces temporary closure of Jersey Zoo

    Jersey Zoo closed earlier after a capybara escaped from its enclosure.

    Staff noticed the large rodent called Tango was missing while doing their morning checks at about 08:00 BST.

    The zoo reopened at about 11:30 BST after the mammal team “quickly located” Tango in the Tamarin woods in the zoo grounds, said a spokesperson.

    Triplet Tango, who is just under two years old, moved to the zoo recently from Druisillas Park in East Sussex where he was a feature of World Book Day and demanded cuddles from author Dame Jacqueline Wilson.

    The zoo, founded by naturalist and writer Gerald Durrell, thanked visitors and members for their patience.

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  • A Case of Pyogenic Vertebral Osteomyelitis and Iliopsoas Abscess Caused by Invasive Pneumococcal Disease Serotype 35F: Utility of Diffusion-Weighted Whole-Body Imaging With Background Body Signal Suppression as an Adjunctive Diagnostic Tool

    A Case of Pyogenic Vertebral Osteomyelitis and Iliopsoas Abscess Caused by Invasive Pneumococcal Disease Serotype 35F: Utility of Diffusion-Weighted Whole-Body Imaging With Background Body Signal Suppression as an Adjunctive Diagnostic Tool


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  • MQM founder Altaf Hussain’s condition has ‘greatly improved’: party official – World

    MQM founder Altaf Hussain’s condition has ‘greatly improved’: party official – World

    Muttahida Qaumi Movement (MQM) founder Altaf Hussain’s health has been on the mend after he was admitted to the hospital, according to a video by a party official posted on Saturday.

    Hussain was recently hospitalised in London due to “severe illness”, where he underwent multiple tests. London-based senior party leader Mustafa Azizabadi told Dawn.com that the MQM founder’s treatment was ongoing and “hopefully it’s not something serious”.

    In a video message posted early on X today, Azizabadi stated that the MQM founder’s health had improved since yesterday.

    “Altaf Hussain bhai (brother) has undergone some tests and blood transfusion has been given. The tests show that Altaf bhai’s health … has greatly improved,” Azizabadi said. “Doctors are treating him according to the test results.”

    He highlighted that misinformation had spread about Hussain’s condition, calling it “upsetting”.

    An update from MQM Coordination Committee Deputy Convener Qasim Ali said doctors conducted a detailed medical examination and agreed to continue treatment in light of the test reports from a day ago.

    “Doctors have advised continuing blood transfusions for Altaf Hussain today as well due to a decrease in blood count.”

    Previously known as the Mohajir Qaumi Movement, Hussain founded his party in 1984 to represent the Urdu-speaking community, which had migrated to Pakistan amid Partition.

    Under Hussain’s leadership, MQM swept the 1988 election in Sindh’s urban areas, emerging as the third-largest party in the country.

    The MQM under Hussain was accused of using violent tactics to attain and retain political power. On the contrary, Hussain maintained that the state and other political parties have targeted MQM and its workers ever since its formation.

    Hussain currently lives in London, where he has been in self-imposed exile since 1992. He was later granted British citizenship. From London, Hussain played an active role in politics, regularly broadcasting political speeches to his followers in Karachi.

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  • Embeth Davidtz discusses her directorial debut, 'Don't Let's Go to the Dogs Tonight' – NPR

    Embeth Davidtz discusses her directorial debut, 'Don't Let's Go to the Dogs Tonight' – NPR

    1. Embeth Davidtz discusses her directorial debut, ‘Don’t Let’s Go to the Dogs Tonight’  NPR
    2. Embeth Davidtz has always been soft-spoken. Stepping up as a director, she decided to roar  Los Angeles Times
    3. Being South African, becoming Jewish  The Jewish Standard
    4. Movie Review: War, through one child’s extraordinary eyes, in ‘Don’t Let’s Go to the Dogs Tonight’  GazetteXtra
    5. Actor and Filmmaker Embeth Davidtz on Bringing Don’t Let’s Go to the Dogs Tonight to the Screen  Vogue

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  • Battlegrounds x aespa – pubg.com

    Battlegrounds x aespa – pubg.com

    1. Battlegrounds x aespa  pubg.com
    2. PUBG Teams Up With K-Pop Sensation aespa In Latest Update With New Music, Concert Venues And Visuals  gamefragger.com
    3. Aespa performs ‘Dark Arts’ in ‘PUBG’ collab launch film  upi.com
    4. July Store Update 2025  pubg.com
    5. PUBG x aespa – NEWS – PUBG: BATTLEGROUNDS  pubg.com

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  • Obama’s former press secretary recalls ‘emotional’ mood in White House after Trump win | Barack Obama

    Obama’s former press secretary recalls ‘emotional’ mood in White House after Trump win | Barack Obama

    The hardest day on the job for the White House press secretary for most of Barack Obama’s second term was right after Donald Trump was first elected president, he recently revealed during a fireside chat at a journalism convention.

    Speaking at the 2025 National Association of Hispanic Journalists (NAHJ) conference in Chicago, Josh Earnest said it was grueling for the Obama administration to realize it would have to follow through on promises of a peaceful transfer of power despite spending the 2016 election cycle offering dire warnings “about what could or would happen if Donald Trump were given the keys to the Oval Office”.

    Those warnings stemmed in part from intelligence assessments that the US’s longtime geopolitical adversary Russia had interfered in the race in which Trump defeated former secretary of state Hillary Clinton. Earnest said the Obama administration suddenly found itself needing to defend the validity of those assessments while saying it would peacefully transfer over the nuclear launch codes – and other levers of power – to Trump.

    “Did [Obama] not mean how dangerous [Trump] could be?” Earnest asked rhetorically, referring to some of the questions he and fellow administration officials faced while briefing journalists at the time. “It was a tough message.”

    The remarks on Wednesday from Earnest – who was Obama’s press secretary from 2014 to 2017 – also offered a first-hand peek into the somber mood at the White House after Trump defeated Clinton. Like many, Earnest “was very surprised”. “I did not think he was going to win,” he said.

    Many Obama communications staffers were visibly demoralized, and Earnest said he and his aides decided to convene them, talk about Trump’s victory and try to refocus them for the final two months in office.

    During that conversation, Obama summoned Earnest to go over the logistics of a nationally televised speech he was planning to give in the White House’s Rose Garden. Earnest recalled Obama asking how it was going with the staff that morning – to which he replied that they were “emotional”.

    Obama then asked an assistant to call the staff into the Oval Office. He stood in front of the Resolute Desk near his vice-president, Joe Biden, who would later succeed Trump in the White House – and gave them an early version of the speech he ultimately delivered that day.

    “We have to remember that we’re actually all on one team,” part of that speech read. “We are Americans first. We’re patriots first. We all want what’s best for this country.”

    As Earnest noted, Obama’s official White House photographer, Pete Souza, captured the scene with his camera. He recalled how it was the first time many people in the room that day had been in the Oval Office.

    “It was very poignant,” Earnest told the chat’s host, the ABC7 Chicago news anchor Tanja Babich.

    One of Earnest’s most vocal critics in the aftermath of Trump’s victory was the president-elect himself. Trump called Earnest a “foolish guy” at a December 2016 rally.

    “He is so bad – the way he delivers a message,” Trump said of Earnest after the latter defended the US intelligence community’s assessment of Russia’s interference.

    Earnest has been a top spokesperson for United Airlines at the company’s Chicago headquarters since 2018. He spent some time being a media pundit early during the first of Trump’s two presidencies. But Earnest told Babich he did not find it “particularly fulfilling” given the way Trump’s unpredictable, chaotic style of governing can often disorient news outlets.

    “The questions could all be boiled down to, ‘Isn’t this outrageous what Trump is doing?” Earnest said. “And it became about finding different ways to say, ‘Yes.’

    “I wasn’t doing journalism. I was doing commentary. And it was pretty close to entertainment.”

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  • Australia and New Zealand Invitational XV 0-48 Lions: Van der Merwe hat-trick as Lions shine

    Australia and New Zealand Invitational XV 0-48 Lions: Van der Merwe hat-trick as Lions shine

    The majority of Andy Farrell’s Test squad is more or less settled, but there were some guys out there playing for big stakes.

    Hugo Keenan needed a reassuring display at full-back given that Blair Kinghorn will miss the first Test in Brisbane. And he delivered. Jac Morgan was competing for the open-side jersey that’s flitted between himself, Josh van der Flier and Tom Curry. Morgan was influential.

    With the news coming through about Ringrose, Huw Jones picked a good night to have a big game. His partnership with Sione Tuipulotu was convincing.

    By the time Farrell entered the fray the game was over as a contest, but he looked good all the same, although there are bigger examinations to come, of course.

    After so many slow starts, the Lions must have craved a fast one – and they made it happen.

    Hansen was good in the air, Morgan was good on the floor and Keenan was particularly good when taking a quick line-out throw that was at the heart of the first try, the brilliant Jones giving the pass for Van der Merwe to score.

    Within a blink of an eye, White had taken advantage of a giant amount of space at the side of a ruck and he ran away to the posts. Smith’s conversion made it 12-0. The high hopes some might have had for the AUNZ side started to disappear into the night sky above the Adelaide Oval at that point.

    The Lions were slick and sharp, the best they’ve been on tour. Ruthless, too. Pollock might have been held up in the corner, but it didn’t really matter. Soon enough, Tuipulotu and Smith were putting Van der Merwe away for the big man’s second try of the night.

    More good stuff from Jones and more reminders of what a world-class attacker he is. If the Lions get bad news on Ringrose then what a player they have in Jones, who’s been getting better and better since returning from injury.

    There was some torment for the Lions when, in a grisly incident, Cowan-Dickie’s head collided with the knee of the giant lock Lukhan Salakaia-Loto, with the England hooker taken off on a stretcher after receiving treatment on the field.

    Having started the first half powerfully, the Lions did the same after the restart when a Ronan Kelleher tap penalty under the posts was worked to Ben Earl who found Tuipulotu. The centre stepped inside a by-now beaten defence to score.

    Farrell made his entrance not long after, a dream platform for him, and he looked comfortable despite his lack of rugby. The opposition were a busted flush long since, but Farrell still had all his old intensity and delivered some nice moments as the Lions ran away with it.

    Playing 12, Farrell had a lovely pass to White in the build-up to the try finished off by the thundering Cummings. The Scottish try-fest carried on when Van der Merwe completed his hat-trick. Farrell, Hansen and Keenan were all involved.

    The AUNZ boys were in a deep hole now and the yellow card for Shannon Frizell only made it worse. Kelleher worked a one-two at the front of a close-range line-out and Kelleher went over. Then, to round it all off, some slapstick in the AUNZ 22 was seized on by Pollock, who was as sharp as a button in taking advantage.

    Marcus Smith added his second conversion and the Lions had well and truly done the job, propelling themselves into Test match week in good heart.

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  • F1 fan, 85, gets VIP treatment after viral Tiktok video

    F1 fan, 85, gets VIP treatment after viral Tiktok video

    Danny Fullbrook

    BBC News, Hertfordshire

    Lucy Wallduck An older man wearing a black cap, blue headphones, and a black shirt stands in a motorsport pit area. Behind him, team members in pink and black uniforms work near monitors, with spectators visible through the open garage.Lucy Wallduck

    David Wallduck was thrilled to get up close to the action at Silverstone

    An 85-year-old F1 fan was thrilled to receive a unique VIP experience after going viral on TikTok.

    In the clip, viewed more than four million times, David Wallduck was visibly emotional as his daughter Lucy surprised him with tickets to the British Grand Prix at Silverstone.

    Following the moment, he received messages of support from every F1 team and an invitation to visit the Alpine paddock.

    Mr Wallduck, from Hemel Hempstead in Hertfordshire, said: “Getting to go in the Alpine pit lane and paddock was a great experience – watching close up the wheel changes and seeing the cars and drivers getting ready to race.”

    Lucy Wallduck And older man and young woman wearing VIP passes stand in front of a Formula 1 garage labelled. Team members are visible inside working on equipment and cars.Lucy Wallduck

    Lucy Wallduck surprised her father with tickets to see the Grand Prix in a video that was shared on TikTok

    As a huge fan of racer Lando Norris, Mr Wallduck was also delighted to watch the McLaren driver’s first home victory at the British Grand Prix.

    The 85-year-old has never missed following a single F1 competition since it started when he was 10 in 1950.

    Despite that, this trip was his first time watching the sport in the flesh.

    His daughter told presenter Babs Michel on BBC Radio Northampton: “It really was an amazing weekend, and it was just everybody who made it such an unforgettable experience for dad.

    “He doesn’t know if he’ll ever get to go to the F1 again, and he’s just lived the best day there yesterday.”

    Lucy Wallduck A man stands in front of a Formula 1. He is wearing a navy shirt with pink and white accents and holding a jacket. Team members are visible inside the garage, and the ground appears wet.Lucy Wallduck

    Mr Wallduck has been an F1 fan since he was 10, but had never watched it in real life

    Mr Wallduck expressed disbelief when he was told the video of him learning about the surprise went viral.

    He asked: “Why would people want to watch me?”

    His daughter recalled that while at Silverstone, “quite a few people” recognised him and asked for selfies.

    “It’s just such a lovely community, the F1 community,” she said.


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