Erdogan vows action against 'economic terrorists' over lira plunge
14 August, 2018, 17:09 | Author: Teresa Adams
He insisted that Turkey's economic dynamic remain strong and said the Turkish currency would soon settle "at the most reasonable level".
Financial markets are now waiting to see what Turkey does next, after a raft of measures unveiled Monday did little to stem the tide.
Mr Erdogan told a news conference in the Turkish capital, Ankara: "You act on one side as a strategic partner, but on the other, you fire bullets into the foot of your strategic partner". The South African rand lost more than 10 percent today, recovering slighty to 14.51 to the dollar, while the Indianrupee hit an all-time low of 69.62 to the dollar before recovering to 69.695 right after the Turkish Central Bank said it would provide liquidity.
The dispute centres on Turkey's refusal to release United States pastor Andrew Brunson.
Brunson was charged with committing crimes, including spying for the PKK - listed as a terrorist group by both the USA and Turkey - and the Fetullah Terrorist Organization (FETO), the group behind the defeated coup attempt of July 2016.
Turkey's Capital Markets Board (SPK) and financial crime board have also said they would take legal steps against those who spread misinformation about financial institutions and firms, or reports that the government would seize foreign-currency deposits.
"U.S. banks' total claims on Turkey amounted to just $38 [billion] at the end of March this year, not much more than claims on Finland", Pantheon's chief economist, Ian Shepherdson, wrote in a note. In our country, we have Venus and Vestel.
He has threatened to seek new alliances - a veiled hint at closer ties with Russian Federation - and warned of drastic measures if businesses withdraw foreign currency from banks.
North Atlantic Treaty Organisation uses the Incirlik Air Base in Turkey to fight against IS and there has been some domestic pressure on Mr Erdogan to close it.
"We will boycott United States electronic goods", Erdogan said in a speech in Ankara, again showing no sign of compromise in the dispute. That helped Turkey's economy, which grew at 7 percent previous year.
It has been a concern that the lira will affect European banks, mainly Spanish and French, because of the exposure of major European lenders to Turkish debt.
Following Erdoğan's speech, the shares of Turkish electronics producer Vestel trading in Borsa Istanbul (BIST) increased by as much as 7 percent amid an overall surge in benchmark BIST-100 Index by 1.1 percent.
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Stokes took three wickets on Sunday's fourth and last day at Edgbaston, including the prize scalp of India captain Virat Kohli. England and India were left frustrated at Lord's with persistent rain wiping out the whole of day one of the second Test.
Higher US rates make the dollar more attractive to hold, offering investors an extra incentive to switch out of risky emerging country assets.
The bank also revised reserve requirement ratios for banks, in a move also aimed at staving off any liquidity issues.
The Shanghai Composite Index fell 0.5 percent to 2,771.81 and Hong Kong's Hang Seng lost 0.9 percent to 27,686.99. Even more, Trump's direct reference to the Turkish lira sent the currency tumbling. Argentina's central bank unexpectedly raised interest rates by 5 percentage points on Monday.
At issue is the Central Bank's refusal to raise interest rates in order to tackle double-digit inflation, with Erdogan believing that interest rates are the number one killer of the economy.
It is not clear if this comes after Mr Erdogan's pressure.
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It was a hard period for the London club after many headlines generated had to do with their star players leaving. Arrizabalaga has played 53 La Liga matches for Athletic Bilbao since breaking into the team in 2016.
Yet reports by the National Enquirer put her extreme weight loss down to a cancer relapse and chemotherapy in 2017. The Detroit Historical Society reports that Franklin's family lived in Detroit shortly after she was born in 1942.
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That is a fantastic experience for him to translate to our team. "We are going to be better - no doubt about that". Now we have players who compete at a high level in the World Cup, we have the captain who lifted the trophy.
The sovereign wealth fund of Saudi Arabia is exploring a way to be a part of taking Tesla private, a Bloomberg report states. He also said that by taking the electric vehicle company private it would end "negative propaganda from shorts".
The death toll is estimated by some to have now topped 300. "We saw everybody leaving in boats but no boat came to us", he said. After the 6.9 magnitude natural disaster in Lombok, Facebook users wrote "I hope people will survive".
The unit may reverse its previous falls in the wake of upcoming news and banking regulations imposed by Turkish authorities. Market analysts broadly welcomed his comments but said investors wanted to see action.
Among other major buildings to collapse were a health clinic, government offices and other public facilities, he said. But some evacuees have complained of being ignored or of experiencing long delays for supplies to arrive at shelters.
The transfer window is closed for Premier League clubs, although they are stil allowed to sell and loan out players. Emery added that Stan Kroenke's bid to take sole ownership of the club could be positive for the club.
Viewers of solar eclipses are advised to never look directly at the Sun, and either wear specialised glasses or viewing boxes. In 2018, the first eclipse was the super blue blood moon on January 31 followed by a partial solar eclipse on the February 15.
Throughout his presidency, Trump has made a point to target undocumented immigrants, whether they have a criminal record or not . The Knavses, both in their 70s, raised Melania Trump in Sevnica, a Slovenian town of around 4,500 people.
The date of the 92nd Oscars telecast will move to Sunday, February 9, 2020, from the previously announced February 23. It is unclear, however, whether the change will come into effect in time for the next Oscars ceremony in February.
Canada asking allies to help cool Saudi dispute
Saudi Arabia's media ministry is investigating the incident, which came as tensions between the two countries escalated. Among those arrested was Samar Badawi, whose brother Raif Badawi was arrested in Saudi Arabia in 2012.
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He also refused to let them ask Manafort's former business associate Rick Gates about his reported extramarital affairs. He told jurors how he disguised millions of dollars in foreign income as loans in order to lower Manafort's tax bill.