Turkey Raises Taxes on Lira Deposits and Funds to Bolster Budget
The tax on deposits with maturities of up to six months was increased to 17.5% from 15%, according to a presidential decree published on Tuesday. For deposits of up to one year it rose to 15% from 12%. Mutual fund earnings, excluding equity-heavy and long-term real estate or venture capital funds, will be taxed at 17.5%, up from 15%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
We Asked ChatGPT: What If Inflation Fell To 0%?
Whether you're scrolling through social media, attending political rallies or shopping at your local grocery store, you're bound to hear the term 'inflation' thrown around. Inflation measures the increase in prices of products and services over a period of time. When a country's money supply expands too much in relation to its economy, the power of the currency weakens, resulting in higher prices. Currently, inflation has risen 2.9% over the past year, with many frustrated with their rising monthly costs. Learn More: Read Next: As a thought experiment, we asked ChatGPT what would happen if inflation dropped to 0% and how this would affect Americans across the board. Here's what the AI chatbot said. The Positives of 0% Inflation There are obvious benefits that the average person would enjoy if inflation were to come to a standstill. These are four of the main advantages that ChatGPT highlighted. Stable Prices Chat GPT said, 'Everyday life becomes more predictable. You can plan your expenses and savings more accurately because you know prices won't go up next year.' This is a very convenient aspect of 0% inflation that most people think about first. Predictability makes budgeting and planning for your financial future much easier. Find Out: No Erosion of Savings People hope to earn money by putting it into a savings account. However, if the price of inflation rises higher than their interest rates, they'll lose money. With no inflation, ChatGPT said, 'If you keep money in a savings account with a positive interest rate, you don't lose purchasing power over time.' In other words, without inflation, your savings will only increase over time and become more valuable. Lower Pressure on Wages Another advantage is '[w]orkers might not need frequent pay raises just to maintain their standard of living.' This benefits both workers and employers. When prices don't go up, employees can live comfortably and predictably with a consistent income. On the flipside, when employers don't need to boost wages to keep up with inflation, it's easier for them to budget for labor costs. More Credibility for Central Banks In some situations, high or unstable inflation causes people to lose faith in the financial policies of central banks. With nonexistent inflation, ChatGPT said, 'If inflation had been high before, a drop to 0% could signal strong control over the economy, potentially boosting confidence.' This is important because a lack of trust in the central bank may lead to less investment and the general public turning to foreign currencies for stability. The Negatives of 0% Inflation At a glance, it might seem like a world without inflation would be perfect. However, there are some significant downsides that are important to understand. Increased Risk of Deflation ChatGPT's first negative of an economy without inflation is, '0% inflation is dangerously close to deflation — when prices fall over time.' On the surface, lower prices may sound good, but deflation can be a serious issue. When prices drop, so do salaries. Businesses also begin to lay off more employees to make up for a lack of profits. This can result in less consumer spending despite lower prices and weaken the economy. Higher Real Debt Burden Another downside has to do with fixed-rate debt. The AI chatbot said, 'If wages stay flat and inflation is zero, people with fixed-interest loans (like mortgages or student loans) feel more burdened over time because they can't 'inflate away' the debt.' This means that when prices and wages rise due to inflation, your fixed-rate loan will actually cost less because its rate stays the same. Inflating away debt has been used by governments to drive down the value of their debt in the past, but often comes with its own set of issues. Harder To Stimulate the Economy ChatGPT said, 'With 0% inflation, interest rates are likely very low — possibly near zero. This gives central banks less room to cut rates to stimulate spending or investment during a downturn.' When the central bank lowers rates, it's cheaper to borrow money. When people can borrow money at an inexpensive rate, they're more likely to spend and invest it. However, if banks can't cut rates, people hold onto what they have and wait for a better time to invest. More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on We Asked ChatGPT: What If Inflation Fell To 0%?
Yahoo
4 hours ago
- Yahoo
Joint Stock Company Kaspi.kz (KSPI): A Bull Case Theory
We came across a bullish thesis on Joint Stock Company on Peter's Substack by Peter Thomason. In this article, we will summarize the bulls' thesis on KSPI. Joint Stock Company share was trading at $85.00 as of July 25th. KSPI's trailing P/E was 8.21 according to Yahoo Finance. Photo by Clay Banks on Unsplash Kaspi (KSPI), the first Kazakh company to list on U.S. exchanges, is described as one of the most asymmetrical opportunities among large caps, offering a rare value play in a market priced for perfection. Originally a troubled Kazakh bank, Kaspi transformed under CEO Mikheil Lomtadze and Chairman Vyacheslav Kim into a dominant 'super app,' combining services akin to Amazon, Visa, Venmo, and more. It now commands 95%+ monthly usage among Kazakhstan's adults, with customer engagement and economic value per user compounding over time. The business rests on a capital-light, highly profitable model, delivering 30%+ annual revenue growth, profit margins of 37–48%, and extraordinary returns on equity of 54–96%, while maintaining conservative leverage. Management, with 40% ownership, is deeply aligned with shareholders and has a long history of prioritizing customer trust — from staying open during the 2014 currency crisis to closing profitable services that didn't meet customer satisfaction standards. Kaspi's radical customer obsession drives network effects and resilience, creating a durable moat and sticky user base. Expansion into Turkey provides upside optionality, but the investment case does not rely on it; the core Kazakhstan operations alone could grow earnings 2–4x through increased value per user and scaling of newer services like e-grocery and food delivery. Trading at just 7.7x trailing and 6.8x forward earnings with a PEG ratio of 0.5, Kaspi is priced for negative growth despite consistent execution and a culture of integrity, presenting an exceptional long-term opportunity with significant potential rerating for patient investors. Previously, we covered a on Joint Stock Company (KSPI) by Antoni Nabzdyk in May 2025, highlighting its dominant super app ecosystem, sticky engagement, and asymmetric upside despite geopolitical risks. The stock has depreciated about 6% since then due to market weakness, but the thesis holds. Peter Thomason shares a similar view, emphasizing Kaspi's exceptional returns, network effects, and Turkey expansion optionality. Joint Stock Company is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held KSPI at the end of the first quarter which was 27 in the previous quarter. While we acknowledge the potential of KSPI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
The 529 Plan Blind Spot: Why Millions Of Parents Are Missing Out On Tax-Free College Savings
It's no secret that raising kids is a major financial commitment. Among the more common financial concerns parents have is the ability to help fund a child's education. The cost of higher education has skyrocketed over the last two decades, leaving many feeling unable to predict how much they need to put away to make a dent in the total. Knowing how to save for that cost is also a concern for many. A new study conducted by The Harris Poll on behalf of Intuit Credit Karma found that 66% of parents are saving in some way for their children's future educational costs. About 65% of parents say they are putting money away in a type of savings account, but just 24% are using a 529 plan. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— A 529 plan is a tax-advantaged savings account that can be used to pay for educational expenses. These accounts can be leveraged at all stages of a child's life, from K-12 tuition to college, vocational and technical schools, internships, and even student loan repayment. Experts widely agree that 529 plans are among the best ways to save for educational expenses. Perhaps ironically, a lack of education seems to be the driving factor behind the underutilization of 529 plans. According to the study, 43% of parents aren't using a 529 plan because they have never heard of them or don't know what they are. Other reasons for the 529 plan blind spot include the desire for more flexible savings options (17%), concerns about the plans impacting financial aid (14%), concerns about the future of higher education (18%), and worries over the state of student loan debt (16%). Trending: $100k+ in investable assets? – no cost, no obligation. However, just because a parent isn't aware of, or isn't using, a 529 plan, that doesn't mean they aren't preparing for the future. In the study, parents reported a handful of other ways they are planning to handle potential higher education costs, like helping their children apply for scholarships and grants (34%), recommending community college starts (29%), or preparing their kids to take on debt in their own names (22%). Many parents also signified that they'd use their own resources to help a child finance higher education. Nearly one-third report that they're prepared to dip into savings or investments to cover the cost. While 14% say they'd refinance their homes, 19% will take on student loan debt in their own name, and 13% will re-work retirement contributions to come up with the money. On the other end of the spectrum, 34% of parents say they aren't saving for their children's future education at all. Most of the time, that's because they simply can't afford to (67%) or because they feel like it's too early to start (25%)."Raising children is expensive, especially when it comes to education-related costs, which can be among the largest and most unpredictable expenses families face," Intuit Credit Karma Consumer Financial Advocate Courtney Alev said in a statement. "It's crucial for parents to start saving for their children's future, if they can." "Even small, regular contributions can grow substantially over time," she said. "While there is no one-size-fits-all approach to saving, exploring options like 529 plans can be beneficial... Ultimately, how parents choose to save depends on their goals and preferences, but understanding all the available accounts and tools available can help them make the most informed decisions for their children's future." Read Next: The average American couple has saved this much money for retirement —? Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article The 529 Plan Blind Spot: Why Millions Of Parents Are Missing Out On Tax-Free College Savings originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
