TURKEY - Turks may not earn their wages in foreign currency but their currency is melting like ice on a summer day and prices increase by the week. A bottle of wine I bought the day before had increased by 15%. It is hard to keep up. "I cannot reflect the 10% increase from this morning on the chicken and cheese I use in my sandwiches. https://news.sky.com/story/wine-up-15-in-a-day-chicken-by-10-the-price-we-are-paying-for-turkeys-currency-collapse-12477649

UK - Bulb, Britain's seventh biggest energy supplier, has formally entered into administration - becoming the biggest victim so far of the crisis in the industry and leaving taxpayers with a £1.7bn bill. The process is being adopted because Bulb is regarded as too big to be handled in the same way as the more than 20 smaller rivals that have already succumbed since the start of September as surging wholesale gas prices put their finances under strain. https://news.sky.com/story/collapse-of-britains-seventh-biggest-energy-firm-bulb-confirmed-leaving-taxpayers-to-take-the-strain-12477266

Europe's first cold spell of the heating season has arrived, pressuring power prices higher as freezing temperatures ushers in increased power demand to heat building structures across the central-west region. German day-ahead power prices jumped to the second-highest level ever, 273.89 euros per megawatt-hour. Day-ahead power prices are also higher in France and Netherlands. https://www.zerohedge.com/weather/german-power-prices-soar-arctic-blast-brings-snow

Central Banks currency devaluation worldwide through increasing M1 supply and low interest rates along with various forms of QE is leading to massive inflation rates.

"A combination of diverse factors-new Covid epicentres, labour shortages, supply chain disruptions, political instabilities, natural calamities, energy crisis, etc is leading to the current price spikes across several agricultural commodities. Rising costs of common expenses like sea freight and energy, labour and raw material shortages, are responsible for the price rallies seen in staple agricultural commodities like soybean, corn, cotton, sugar, coffee, wheat, and palm oil." https://economictimes.indiatimes.com/small-biz/sme-sector/inflation-fears-corn-cotton-soybean-prices-surge-as-commodities-continue-relentless-rise/articleshow/87905060.cms

Several government websites in Iran have been hacked, with calls for the death of the Supreme Leader posted all over them, as well as support for the country’s opposition group. The websites were flooded with the message “Death to Khamenei – greetings to Rajavi” https://www.rt.com/news/541402-iran-hacked-websites-death-khamenei/

Europe is at risk of power outages this winter due to insufficient gas reserves and over the long-term, oil could rise above $100 a barrel, the chief executive of commodity trading giant Trafigura said. "We haven't got enough gas at the moment quite frankly, we're not storing for the winter period. So hence there's a real concern that there's a potential if we have a cold winter that we could have rolling blackouts in Europe," https://www.reuters.com/business/energy/trafigura-ceo-weir-sees-very-very-tight-oil-market-2021-11-16/

The Bank of Canada should issue a central bank digital currency that can be converted into a “loonie,” the colloquial term of the Canadian dollar, as cryptocurrencies grow in popularity. “Canadian-dollar-linked stablecoins could become attractive to Canadians by making them convertible into cash issued by the Bank of Canada https://www.yahoo.com/now/canada-needs-loonie-linked-digital-182143060.html

Marine services giant Swire Pacific Offshore (SPO) has suffered a Clop ransomware attack that allowed threat actors to steal company data. Swire Pacific Offshore discovered an unauthorized network infiltration onto its IT systems, resulting in the compromise of some employee data. "The unauthorised access has resulted in the loss of some confidential proprietary commercial information and has resulted in the loss of some personal data. https://www.bleepingcomputer.com/news/security/marine-services-giant-swire-pacific-offshore-hit-by-ransomware/

The world may be going crazy over digital currencies, but tiny Singapore is swimming against the tide. The central bank has decided against offering a paperless version of the city-state’s legal tender — at least for now. Not because an electronic version of cash may flop, but because it’ll most likely be a hit. That could have consequences for the island’s financial stability and conduct of monetary policy. Even if those risks are manageable with in-built safeguards, why rock the boat? https://www.japantimes.co.jp/opinion/2021/11/26/commentary/world-commentary/digital-singapore-dollar/

IKEA is battling an ongoing cyberattack where threat actors are targeting employees in internal phishing attacks using stolen reply-chain emails. A reply-chain email attack is when threat actors steal legitimate corporate email and then reply to them with links to malicious documents that install malware on recipients' devices. https://www.bleepingcomputer.com/news/security/ikea-email-systems-hit-by-ongoing-cyberattack/

The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives. Tanzania was planning to follow Nigeria’s example in rolling out its own CBDC. Luoga reportedly said that the central bank had “already begun preparations” for a digital shilling, https://cointelegraph.com/news/tanzania-reportedly-makes-plans-to-launch-cbdc

For some time now Beijing has been emphasising the importance of food security. This is because grain prices in China have increased and the relations with some exporting countries are not so good now. China is expected to roll out support in order to counter price volatility in both domestic and international markets. The state-run Economic Daily has reported that prices of corn and wheat have soared. The media further added that the situation could get worse as the prices would continue to increase due to continuous rainfall and unusually cold winter in northern China. https://www.msn.com/en-in/news/world/amid-concerns-of-food-security-grain-prices-hike-in-china/ar-AARbMVS

Russian wheat prices gained last week for the sixth consecutive week amid strong export demand and an earlier rally in global benchmarks. Russian wheat exports are down by 35% since the start of the 2021/22 marketing season on July 1, due to a smaller crop and the export tax, which will rise to $80.8 per tonne this week. The tax is based on an indicative price of $315.5 per tonne. https://www.nasdaq.com/articles/russian-wheat-rises-for-sixth-week-in-a-row-amid-strong-demand

BELGRADE - Serbia has increased its gold reserves to 37 tonnes and moved them to the treasury of the central bank from Switzerland's Bern, governor Jorgovanka Tabakovic said. "All the gold of the state of Serbia, over 37 tonnes, is in the vaults of the central bank," The central bank intends to continue to acquire gold and expand its reserves further, https://seenews.com/news/serbia-relocates-gold-reserves-to-c-bank-treasury-governor-762567

The reverberations are hitting central and Eastern Europe especially hard, where countries have some of the highest inflation rates in the 27-nation European Union and people are struggling to buy food or fill their fuel tanks. It is most pronounced in the developing economies of central and Eastern Europe, with the highest annual rates recorded in Lithuania (8.2%), Estonia (6.8%) and Hungary (6.6%). In Poland, one of Europe’s fastest-growing economies, inflation came in at 6.4% in October, the highest rate in two decades. https://www.msn.com/en-us/money/markets/inflation-everywhere-as-world-sees-spike-in-prices/ar-AARg1lv

Israel's central bank is accelerating its study, research and preparation for the possible issuance of a digital shekel aimed at creating a more efficient payments system, Bank of Israel Governor Amir Yaron https://www.reuters.com/markets/currencies/bank-israel-accelerating-preparations-digital-currency-governor-2021-11-29/

India - Indian farmers squeezed by a massive shortage of fertilizers are turning to the black market and paying exorbitant prices for supplies. The shortfall has led to a thriving market where subsidized crop nutrients are sold illegally at prices much higher than levels set by the government. Shady agents have been busy fielding requests from farmers who call them in desperate need. We either have to cut the use of fertilizers and risk lower production, or pay sky-high prices on the black market, https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/black-market-for-fertilizers-is-booming-in-india-as-prices-soar/articleshow/87972990.cms

Spanish inflation hit its highest in nearly three decades in November as increases in food and fuel costs pushed consumer prices up 5.6% year-on-year, National Statistics Institute (INE) data showed. The rate accelerated from October's 5.4% to reach its highest level since September 1992's 5.8%. Inflation has been rising across the euro zone in recent months, with Spain particularly hard hit. Rising food costs were the main driver, followed by vehicle fuels and lubricants. https://money.usnews.com/investing/news/articles/2021-11-29/food-and-fuel-costs-drive-spanish-inflation-to-29-year-high

Singapore increased its gold reserves by about 20% earlier this year in a largely under-the-radar move the central bank says will ensure the resiliency of its portfolio. The purchases totaled about 26.3 tons https://www.bloomberg.com/news/articles/2021-11-29/singapore-adds-to-its-gold-pile-for-the-first-time-in-decades

A fourth-generation dairy farmer warned that climate change-related regulations and a slew of economic woes could signal the end for her family’s way of life after nearly a century. “Instead of educating people through the farmer, we’re educating them through people that have never farmed and we’re killing off our family farmers.” Rising costs, labor and supply shortages and little support – in addition to climate change and conservation regulations – are all major obstacles threatening farmers. “They regulate us on every step we make,”. “We’re constantly looked at, constantly manipulated and told what to do, and farmers don’t want to be told how to farm.” https://paine.tv/fourth-generation-dairy-farmer-warns-economic-woes-climate-change-regulations-could-end-family-farms/

Indonesia is considering developing a central bank digital currency (CBDC) as one way to counter the use of cryptocurrency in the country. An assistant governor of Bank Indonesia, said that a digital rupiah would address the effect crypto trading has on the financial system. Religious leaders in the country declared that Muslims are forbidden from using crypto earlier this month, owing to elements of uncertainty and wagering. https://finance.yahoo.com/news/indonesia-central-bank-wants-fight-091219014.html