World Economy

Recently fast grew by European and then Japanese and South Korean help, the automotive industry in Turkey plays an important role in the manufacturing sector of the Turkish economy. The foundations of the industry was laid with the establishment of Otosan assembly factory in 1959 and the mass production of the domestic car Anadol in 1961. Last years Turkey produced up to 1.2 million motor vehicles, ranking as the 7th in Europe and the 16th-17th largest producer in the World. With a cluster of car-makers and parts suppliers, the Turkish automotive sector has become an integral part of the global network of production bases, exporting over $22,944,000,000 worth of motor vehicles and components in 2008. Global car manufacturers with production plants include Mercedes-Benz , Fiat / Tofaş , Oyak-Renault , Hyundai , Toyota , Honda and Ford / Otosan .

So, what has caused oil to fall this severely in the first place? The excessive supply of oil has likely been the main reason for the big drop in its price. The glut first started to build in the US because of the shale revolution there. Companies sold their oil cheaper, causing the Organization of Petroleum Exporting Countries (OPEC) to lose market share. Traditionally, the OPEC had acted as a swing producer; it would cut its oil supply if prices fell sharply and increase production if prices rose meaningfully, as it attempted to keep oil relatively stable at a comfortable level. This strategy had served the oil cartel well in the past – especially its largest member, Saudi Arabia. However, with shale oil booming, the OPEC could no longer control the market like before. If the cartel cut its oil output, the US and other shale producers would simply fill the void and increase their market share by selling oil cheaper. Therefore, in November 2014, Saudi Arabia resisted calls from poor

1. Wal-Mart Stores Inc. > Total employees: 2,200,000 > Revenue : $476.3 billion > Country: United States > Industry: Retail Wal-Mart Stores is the world's largest employer. The retailer operates Walmart , Sam's Club , and other chains, which together employ some 2.2 million people globally. Of that total, roughly 1.4 million were employed in the U.S. alone at the end of the company's fiscal year. This accounted for notable share of the U.S. labor force, which totaled slightly more than 156 million people as of July. Outside the U.S., the retailer employs more than 200,000 people in Mexico, and nearly 170,000 at its Asda chain in the U.K. However, the company has also inspired fierce debate over its labor practices, with some claiming that Wal-Mart's pay is too low to constitute a livable wage, and others arguing that Wal-Mart provides jobs to low-skilled workers with few options. 2.G4S plc > Total employees: 618,000 > Revenue: $12.3 billion &g

T​he spectre of protectionism and the destructive impact of negative interest rates , pose serious threats to the world economy, says BlackRock chief executive Larry Fink. .. Mr Fink, who heads the world’s largest money manager, said negative rates — coming on top of eight years of low rates — eroded people’s ability to save for retirement and stored up trouble for the future. The European Central Bank on Thursday delivered a 10-point cut to minus 0.4 per cent .. He noted that 80 per cent of German retirement savings were invested in bonds, not equities. He was “hostilely against” negative rates , but saw them lasting a couple of years. .. Donald Trump, the Republican frontrunner, has railed against US companies that have transferred production to lower-cost Mexico and China and has vowed, if elected, to bring back jobs and stop the US getting “killed”. Mr. Trump has also promised to barricade the US border and deport 11m undocumented migrants. Mr. Fink called such pr