<span fr-original-class="customBullet" fr-original-style="font-size: 24px; line-height: 12px; vertical-align: middle; display: inline-block;" style="font-size: 24px; line-height: 12px; vertical-align: middle; display: inline-block; box-sizing: border-box;">•&nbsp;&nbsp; Malaysia's air force:&nbsp;After seven years of negotiations and deliberations, the Malaysian military finalized its acquisition of Kuwait’s coveted F/A-18C/D Hornets, outbidding both Tunisia and the US Marine Corps.<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;">Zoom out:&nbsp;Malaysia's air fleet is historically reliant on Russian merchandise. However, the nation is increasingly diversifying its fleet, most recently acquiring South Korean jets, as well as ramping up domestic production.</li></ul>

Aposto World

The 15th BRICS (Brazil, Russia, India, China, South Africa) Summit convened in Johannesburg, South Africa. While the final declaration of the Johannesburg Summit may not yield immediate results, it holds critical long-term importance. During the summit, the current BRICS members made significant decisions concerning the future and evolution of the BRICS group.Notably, discussions about expanding the BRICS membership, with a focus on India, were initially met with hesitations. However, Indian Prime Minister Narendra Modi's statement expressing support for increasing the number of BRICS members helped dispel these hesitations.The foundations of the BRICS project, once rumored to include Turkey and even be renamed as BRICS-T, were established in the aftermath of the U.S. intervention in Afghanistan following the September 11 attacks. During this period, American economist Jim O'Neill predicted that rising powers like China, India, Brazil, and Russia would assume significant roles in the future. Russia embraced this perspective and initiated cooperation with these countries. The first BRICS meeting was convened in 2006.The current BRICS countries collectively account for 40% of the world's population, a stark contrast to the industrialized G7 countries, which represent only 10% of the global population. Furthermore, this economic alliance constitutes a quarter of the world's total GDP.Should oil-rich nations like Saudi Arabia, Iran, Algeria, and countries with substantial populations such as Malaysia, Indonesia, and Egypt join the BRICS, the alliance has the potential to strengthen even further.The world financial crisis of 2008 shook the existing system and increased interest in alternatives. The BRIC countries (South Africa had not yet joined the Union at the time) came together for the second time to demand a fairer global economic order. In the process, despite the differences between the member countries, the BRICS countries began to gain economic and political power.The fact that Turkey is not mentioned among the new members of BRICS clearly shows what kind of foreign policy and international trade system it should aim for.Surprise Interest Rate DecisionOn August 24, 2023, the Monetary Policy Committee (MPC) of the Central Bank of the Republic of Turkey convened under the leadership of Hafize Gaye Erkan and made a surprising policy rate adjustment. They increased the rate by 750 basis points (bps), raising it from 17.5 percent to 25 percent. Prior to the meeting, the market's median expectation for a rate hike was 250 bps. This unexpected decision by the MPC underscores their strong determination to raise interest rates.In our previous bulletins, we emphasized that the more the Simsek-Erkan duo departed from President Erdoğan's 'interest rates are the cause, and inflation is the effect' narrative, the greater their chances of success. Otherwise, the credibility of economic and financial management could be compromised. In fact, the interest rate hikes in the two prior meetings of the Monetary Policy Committee fell short, leading to a significant credibility issue for this team.Subsequently, three renowned and competent economists were appointed as deputy governors of the Central Bank. The fact that this rate hike became possible after their appointments undoubtedly had a positive impact on their credibility. <hr fr-original-style="" style="height: 0px; overflow: visible; border-bottom: none; clear: both; user-select: none; break-after: page; box-sizing: border-box;"> 1 https://www.youtube.com/watch?v=Frvv-9U4oxo2 &nbsp;Venedik Komisyonu, Türk Ceza Kanunu’nun (TCK) 216., 299., 301. ve 314. Maddelerine İlişkin Rapor, 2016, https://www.venice.coe.int/webforms/documents/?pdf=CDL-AD(2016)002-e , ayrıca bkz. Venedik Komisyonu, Son Dönemde Çıkarılan Kanun Hükmünde Kararnamelerde Yer Alan Medya Özgürlüğüne İlişkin Tedbirler Hakkında Görüş, CDL-AD(2017)007, 10-11 Mart 2017.3 Dunja Mijatovic, Türkiye Ülke Raporu, Şubat, 2020, https://rm.coe.int/avrupa-konseyi-insan-haklari-komiseri-dunja-mijatovic-1-5-temmuz-2019-/16809c51874 Avrupa Komisyonu, Türkiye Raporu 2020, https://ec.europa.eu/neighbourhood-enlargement/sites/near/files/turkey_report_2020.pdf5 Ömür Çağdaş Ersoy/ Türkiye, no. 19165/19, 15.06.20216 Işıkırık/Türkiye, no. 41226/09, 14.11.2017; Bakır ve Diğerleri/ Türkiye, no. 46713/10, 10.7.2018; İmret/ Türkiye (no 2), no. 57316/10, 10.7.2018; Zülküf Murat Kahraman/ Türkiye, no. 65808/10, 16.7.2019; Daş/ Türkiye, no. 36909/07, 2.7.2019.7 Parmak ve Bakır/ Türkiye, no. 22429/07 25195/07, 03.12.2019, para.77.8 Vedat Şorli/Türkiye, no. 42048/19, 19.10.20219 Altuğ Taner Akçam/Türkiye, no. 27520/07 , 25.10.2011.10 Selahattin Demirtaş/ Türkiye (no.2) [GC], no. 14305/17, 22.12.2020.

The Freedom Observer

The fact that Turkey is not mentioned among the new members of BRICS clearly shows what kind of foreign policy and international trade system it should aim for.

BRICS Expansion Process and Turkey

• <a fr-original-style="" href="https://www.reuters.com/world/us/exclusive-biden-use-executive-action-spark-stalled-solar-projects-amid-tariff-2022-06-06/" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">US President Joe Biden</a> is to declare a 24-month tariff exemption for solar panels from Cambodia, Malaysia, Thailand and Vietnam, after an investigation froze imports and stalled projects in the US, according to Reuters.&nbsp;<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; list-style-position: inside; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;">A step back: The move comes after the concerns surrounding the impact of the Commerce Department's month-long investigation into whether imports of solar panels from four Southeast Asian nations are circumventing tariffs on goods made in China.</li></ul>

⚡️ Lightning Round<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; list-style-position: inside; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;"><a fr-original-style="" href="https://www.cnbc.com/2022/04/08/warnermedia-discovery-complete-merger-become-warner-bros-discovery.html" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">The newly-merged Warner Bros Discovery</a>&nbsp;will start trading on the Nasdaq on Monday (today) after it completed paperwork last week, with brands like CNN and HBO, and franchises like Harry Potter and Batman under its belt.</li><li fr-original-style="" style="box-sizing: border-box;"><a fr-original-style="" href="https://financialpost.com/pmn/business-pmn/russian-bank-vtb-no-longer-has-control-of-european-subsidiary-german-regulator/wcm/13615342-49db-4f58-ba68-f6948961d449/amp/" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">Russian VTB</a> was among four banks sanctioned by the EU last Friday, and lost control over its European subsidiary, German regulator BaFin said.</li><li fr-original-style="" style="box-sizing: border-box;"><a fr-original-style="" href="https://www.reuters.com/business/finance/hold-us-jury-reaches-verdict-ex-goldman-bankers-1mdb-corruption-trial-2022-04-08/" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">Former Goldman Sachs employee</a> Roger Ng was convicted of corruption for embezzling money, bribing officials and laundering corrupt profits from the 1MDB Malaysia state fund during his time as a top investment banker for Malaysia at the bank.</li></ul>

<img src="https://images.aposto.com/2021/11/0/1639338163061.png" style="display: block; vertical-align: top; margin: 5px auto; text-align: center; width: 100%; max-width: 550px; border-style: none; position: relative; cursor: pointer; padding: 0px 1px; box-sizing: border-box;" width="550" ratio="1.98" alt="Markets wrap" fr-original-style="display: block; vertical-align: top; margin: 5px auto; text-align: center; width: 100%; max-width: 550px;" fr-original-class="fr-draggable">Year-to-date price changes. Prices at markets close.• This is the monetary policy week, with a dozen central banks announcing their interest rate decisions as inflation surges globally. Thursday will mark the start of an EU leaders summit in Brussels with many an important subject on the agenda.<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; list-style-position: inside; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;">Monday Bank of Japan releases the Q4 Tankan Large Manufacturers Index, Turkey Oct. industrial production. US Secretary of State Blinken travels to Indonesia and will also visit Malaysia and Thailand. Macron will hold a bilateral meeting with Hungary PM Orban at V4 Summit in Budapest.</li><li fr-original-style="" style="box-sizing: border-box;">Tuesday Eurozone industrial production, UK unemployment, US PPI. FOMC will begin its two-day policy meeting.</li><li fr-original-style="" style="box-sizing: border-box;">Wednesday FOMC decision: Fed will announce its interest rate decision and is expected to accelerate tapering. China industrial production and unemployment rate. Inflation: UK, Canada, Poland, and South Africa CPIs.&nbsp;</li><li fr-original-style="" style="box-sizing: border-box;">Thursday Rate decisions: ECB, BOE, Switzerland, Norway, Turkey. Manufacturing PMIs: Eurozone, Germany, UK. US industrial production. European Council meeting starts: Topics include Covid-19, crisis management and resilience, migration, energy prices, and Ukraine and Belarus affairs. The Council will also provide guidance on the draft Strategic Compass.&nbsp;</li><li fr-original-style="" style="box-sizing: border-box;">Friday Eurozone CPI, Germany PPI and ifo Business Climate Index. Rate decisions: Japan, Russia.</li></ul>

Malaysia ile ilgili hikayeler