Friday, 16 November, 2018

Turkish lira steady despite new threats from Trump

Cryptocurrency Market Loses $43 Billion in Five DaysCryptocurrencyAltcoin News By Osato Avan Nomayo Last updated Aug 13 2018 Cryptocurrency Market Loses $43 Billion in Five DaysCryptocurrencyAltcoin News By Osato Avan Nomayo Last updated Aug 13 2018
Scott Davis | 17 August, 2018, 16:40

The dispute between Turkey and the United States was sparked by a row over the detention of American pastor Andrew Brunson, who was jailed almost two years ago in the crackdown that followed a failed military coup.

Referring to Brunson, Trump said: "They have a great Christian pastor there, he's a very innocent man".

US President Donald Trump widened the diplomatic rift with a tweet that announced an increase of tariffs on steel and aluminium and that said "our relations with Turkey are not good at this time".

On Wednesday, Turkey announced tariff hikes on a range of US goods, including imports of vehicles, alcohol, coal, rice and cosmetics.

This is mainly due to the firm dollar which is seen strengthening against a basket of emerging market currencies for quite some time now and has in fact stood close to its recent peak.

Treasury Secretary Steven Mnuchin suggested during a cabinet meeting on Thursday that the next spiral of tit-for-tat sanctions was coming soon, deepening a spat that has rattled financial markets, if Andrew Brunson is not released by Turkey.

"Turkey will emerge stronger from these (currency) fluctuations", said Albayrak, who is also Erdogan's son-in-law.




Ankara hit back with duties of up to 140% on alcohol, 120% on cars and a boycott of electronic products, including the iPhone.

The growing tensions between Washington and Ankara have sent the Turkish currency tumbling to historic lows.

"The tariffs that the United States placed on Turkey were out of national security interests".

As NPR explained in a primer on the dispute, much of the ill will shared by Turkey and the US stems not only from the back-and-forth on tariffs, but also from a diplomatic dust-up centered on two men of faith. Ankara also wanted Washington to hand over Turkish cleric Fethullah Gulen, who lives in Pennsylvania and who Turkey suspects of plotting the coup against Erdogan.

Economists gave Albayrak's presentation a qualified welcome and the lira initially found some support, helped by Qatar's pledge to invest $15 billion (£11.8 billion) in Turkey. Worse, Trump's tariff increase signalled heightened tensions and the potential for escalating economic warfare between the US and Turkey - which did not exactly inspire confidence in the Turkish economy.

Turkey has the highest foreign exchange-denominated debt among emerging markets, Societe Generale said in its note on Friday, estimating its short-term external debt at $180 billion (£141.6 billion) and total external debt at $460 billion (£361.9 billion).

Recommended

  • For decades, Pennsylvania priests sexually abused over 1,000 children

    For decades, Pennsylvania priests sexually abused over 1,000 children

    Those stipulations include Trautman's disagreements and clarifications regarding the report be made public at the same time. Shapiro read a letter of sympathy from Bishop James Timlin that was sent not to the victim, but to the rapist.
    Vienna world's most liveable city

    Vienna world's most liveable city

    At the other end of the table, Damascus retained last place, followed by the Bangladeshi capital Dhaka, and Lagos in Nigeria. Sitting in behind Vienna and Melbourne are Osaka, Japan, Calgary, in Canada, and Australia's largest city, Sydney .
    Ben Stokes rejoins England squad after acquittal

    Ben Stokes rejoins England squad after acquittal

    He has missed seven of England's last 11 tests, a stretch that dates back to the Ashes in Australia. O'Connor said they were thankful for Stokes' actions "because Kai could have been left with a scar".
  • Paul Manafort's lawyers conclude trial without calling any witnesses

    Paul Manafort's lawyers conclude trial without calling any witnesses

    After 10 days of testimony from more than two dozen witnesses, prosecutors wrapped up its case against Manafort on Monday. Witnesses testified at trial that Calk pushed the loans through because he wanted a post in the Trump administration.
    Tesla: Musk's tweet a bridge too far?

    Tesla: Musk's tweet a bridge too far?

    In the days following Musk's tweet, Tesla stock tumbled back down to around $353 per share. Interestingly, Elon Musk has openly criticised the short-sellers through his tweets.
    Saudi Arabia's sovereign wealth fund looking to take Tesla private

    Saudi Arabia's sovereign wealth fund looking to take Tesla private

    He wrote that in the blog and the August 7 tweet that he was speaking for himself as a potential bidder for the company. Discussions over taking Tesla private have failed before.
  • McRaven to Trump: ‘Revoke My Security Clearance as Well’

    McRaven to Trump: ‘Revoke My Security Clearance as Well’

    Mr Trump is keen to strip other high-ranking officials of access to classified information, USA media say. He continued: 'Mr Trump's claims of no collusion are, in a word, hogwash '.
    From England: Manchester United eye Monchi

    From England: Manchester United eye Monchi

    Former Real Madrid head coach Zinedine Zidane has reportedly been lined up for a shock move to the English Premier League . The Sun reported in July that Zidane was top of United's shortlist should Mourinho leave the club.
    Leaked Images, Video Show Google Pixel 3 XL with USB-C Earbuds

    Leaked Images, Video Show Google Pixel 3 XL with USB-C Earbuds

    According to screenshots, this is the Google Pixel 3 XL , and it runs an Adreno 630 GPU in a Qualcomm Snapdragon system-on-chip. In additional photos, we can see that Google will apparently be changing the color of the power button this time around.
  • It'll be a stargazer's delight the next few nights watching the Perseids

    It'll be a stargazer's delight the next few nights watching the Perseids

    So every shooting star you see is a tiny messenger from that giant comet , formed long before we even invented the alphabet. This is possibly the best meteor shower this year which will streak across the sky Sunday night into Monday morning.
    Trump Signs Act Named After John McCain Without Mentioning McCain Once

    Trump Signs Act Named After John McCain Without Mentioning McCain Once

    Trump's promise to provide more certainty for military funding, after years of budget "sequestration" caps under President Obama. McCain, an Arizona senator and chairman of the Senate armed services committee has been a vocal critic of Trump.
    Koepka joins golf greats with US PGA win

    Koepka joins golf greats with US PGA win

    Brooks Koepka celebrates with the Wanamaker Trophy after winning the PGA Championship golf tournament at Bellerive Country Club. Woods and Koepka played nine holes of a practice round Wednesday, and the 14-time major champion knew what he was up against.

American pastor is latest flashpoint in US Turkish fight American pastor is latest flashpoint in US Turkish fight Washington wants the evangelical Christian freed but Turkish officials say the case is a matter for the courts. Erdogan held a similar conversation with German Chancellor Angela Merkel on Wednesday.

China, US to hold trade talks in late August China, US to hold trade talks in late August Previous rounds of talks between the two sides failed to make much progress, resulting in the outbreak of a trade war . News of the meeting boosted the Chinese yuan and helped cap losses in China's stock markets.[CNY/][.SS].

Turkey's tariffs on U.S. imports amount to $553 million, trade minister says Turkey's tariffs on U.S.  imports amount to $553 million, trade minister says State Department spokeswoman Heather Nauert said Turkey's economic woes were not started by U.S. sanctions . The tariffs come a day after Erdogan said Turkey would boycott USA electronic goods, singling out iPhones .

Federal Bureau of Investigation agent Strzok, who criticized Trump in text messages, is fired Federal Bureau of Investigation  agent Strzok, who criticized Trump in text messages, is fired The FBI had been reviewing Strzok's employment after the politically charged text messages were discovered past year . Strzok's hope to take the election into his own hands and save Gotham City from The Joker is worse than Deep State .

U.S. Frackers, Energy ETFs Could Slow as Costs Mount U.S. Frackers, Energy ETFs Could Slow as Costs Mount LONDON-Oil prices fell Wednesday after data showed a rise in US crude stockpiles, following days of volatile trading. Also on Monday, a monthly OPEC report showed oil production in Saudi Arabia unexpectedly fell last month from June.

'No war, no negotiations with the US' 'No war, no negotiations with the US' Iran has denounced the sanctions as "U.S. unilateralism". "All people feel livelihood problems today". European signatories still back the nuclear deal.

California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate But despite the unrelenting heat and the fire gaining about 20,000 acres, the fire is now 61 percent contained . The Carr fire was first reported on July 23, when a trailer tire blew on a road near Redding, California.

Luke Shaw: This will be my season at Manchester United Luke Shaw: This will be my season at Manchester United United have denied that happened, while it was also reported that Mino Raiola, the player's agent, had struck a deal with Barcelona .

Beyoncé And Jay-Z's Detroit Tour Stop Was All About Aretha Franklin Beyoncé And Jay-Z's Detroit Tour Stop Was All About Aretha Franklin Though it had been reported the Respect singer has been battling a long illness, they remain hopeful she will recover. Aretha has suffered with ill health over the years and was previously diagnosed with cancer in 2010.

Trump slams former White House aide Omarosa as ‘dog’ Trump slams former White House aide Omarosa as ‘dog’ The recording by the disgruntled 44-year-old, once an ardent Trump ally, represents another stunning breach of presidential trust. She had known him since they worked together in 2004 on the first season of the American reality TV show " The Apprentice ".

Erdogan says Turkey will boycott US electronics Erdogan says Turkey will boycott US electronics Turkey contributes about one percent to the world's total economic output, slightly less than the Netherlands. He had been in jail for nearly 20 months when a court in July ordered him moved to house arrest.

Solar Eclipse Partial solar eclipse in India on August 11 Solar Eclipse Partial solar eclipse in India on August 11 Viewers of solar eclipses are advised to never look directly at the Sun, and either wear specialised glasses or viewing boxes. It should be noted that in 2018, residents in some parts of the world have seen the solar Eclipse of 15 February and 13 July.

Trump lashes out at 'Wacky Omarosa' Trump responded Monday morning on Twitter , saying Omarosa "never made it, never will" and said she was "vicious, but not smart". The accusations are among a long list of scandalous claims contained in her new book Unhinged , set to come out on August 14.

White House slams Omarosa over her book White House slams Omarosa over her book The reliability of Omarosa Manigault's claims about what's been going on in the Trump White House is coming under some question. On Friday, White House press secretary Sarah Huckabee Sanders said " Unhinged " is " riddled with lies and false accusations".

Manchester City make Emery suffer in his Premier League debut Manchester City make Emery suffer in his Premier League debut Guardiola praised the desire of those players, some of whom were back at City's Etihad Campus just two weeks after playing in the World Cup.