Turkey hits record SIPRI ranking
Turkey marked its strongest performance yet on the Stockholm International Peace Research Institute's Top 100 arms-producing list for 2024, with a record five defense companies whose total revenues exceeded $10 billion.
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Iran’s currency, the rial, hit a record low Wednesday as international sanctions tightened their grip on the Persian country’s economy, which is already buckling under low energy prices and an acute water crisis. Meanwhile, across the Gulf, Saudi Arabia’s $1 trillion sovereign wealth fund is setting its sights on Asia — pledging to more than double its investment in Japan by the end of the decade. All that and more in this week’s newsletter.
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