Turkey shaken by financial fears, Trump rattles it further
11 August, 2018, 09:24 | Author: Billie Castillo
Prior to Trump's announcement, the Turkish lira fell to its lowest point ever against the USA dollar on Friday.
The situation was compounded on Friday when US President Donald Trump tweeted that he had authorised a doubling of tariffs on steel and aluminium.
TURKS have been hitting bureau de changes, after being ordered to sell their gold and dollars to support the crumbling Lira.
But while Mr Erdogan - who vowed Turkey would win the "economic war" - favours lowering borrowing costs to fuel credit growth and economic expansion, others would rather see interest rates rise.
Economic experts believe the sharp fall of the lira is mainly because of concerns about the government's economic policies.
Erdogan on Thursday portrayed the currency drop as a "campaign" to harm Turkey and called on the people not to worry.
President Donald Trump announced Friday that he plans to double steel and aluminumtariffs on Turkey - prompting the lira to plunge 20 percent - amid heightened tensions between the two North Atlantic Treaty Organisation allies.
Turkey remains at loggerheads with the United States over the detention for the last two years of American pastor Andrew Brunson and a host of other issues.
"This is a domestic and national struggle".
The Turkish lira fell to record lows as concerns over a widening rift with the United States persisted after a Turkish delegation returned from talks in Washington with no apparent solutions.
The Turkish lira has fallenmore than 10% against the dollar after a Turkish delegation in Washington failed to prevent USA sanctions.
IPhone X smokes Galaxy Note 9 in speed tests
Available in 42mm and 46mm sizes, it has a 360×360 AMOLED display that's scratch resistant and is water-resistant up to 5ATM. But we were impressed with the Gear Sport's 300mAh battery, as it lasted about three full days on a single charge.
The euro's fall comes as investors try to come to grips with how big a threat the troubles in Turkey might pose for the currency union.
There was no sign on Wednesday that the USA and Turkey were able to make any progress in resolving a diplomatic impasse after a delegation from Ankara met with top State Department officials.
The recent plunge comes after a Turkish delegation in Washington failed to stop the U.S. from imposing sanctions against two senior ministers. A Russian government statement said the two discussed economic and trade ties, including the success of several joint projects.
Turkish President Recep Tayyip Erdoğan struck a defiant note in a series of Twitter messages shortly before Trump's announcement. "Turkey will fight economic hitmen just as it fought the coup plotters".
But Aykan Erdemir, of the Foundation for Defense of Democracies, said Mr Trump's tariffs announcement comes "at the worst possible time for Mr Erdogan" and fits with United States strategy to increase pressure on Ankara until Mr Brunson is released.
After winning a June election with revamped powers, Erdogan tightened his control over the central bank and appointed his son-in-law BeratAlbayrak to head a newly-empowered finance ministry.
Coupled with an inflation rate of almost 16 percent, that could cause a lot of damage to the local economy.
Foreign investors could be spooked and try to pull their money out, reinforcing the currency drop and potentially leading to financial instability.
'The price of the food that I buy increases day by day, the fuel that I put in my vehicle to distribute lunches is more expensive, but I can not raise my prices from one day to the next, ' she said. The tech-heavy Nasdaq composite was down 83 points, or 1.1%, poised to end an eight-day winning streak.
Malware can also come bundled with the actual official Android version of the game downloaded from an unofficial third-party. In response, Google has a new warning on the Play Store letting gamers know that Fortnite is not available.
Paul received the letter before leaving Washington and then hand-delivered it to the Russian government, the source said. A Kremlin spokesman confirmed that the letter was delivered and was making its way to Putin.
Berat Albayrak , the Treasury minister and Mr Erdogan's son-in-law, is due to announce a "new economic model" for Turkey... As you can imagine, more people are reading The Jerusalem Post than ever before. "Don't heed them", Erdogan said.
Feeding J50 by bringing her live chinook salmon caught by the Lummi Nation could begin as soon as Thursday. Northwest waters attracted global attention as the grieving animal tried to keep her dead baby afloat.
Another thing the larger size allows is a larger battery: 4000mAh on the Note 9 compared to 3500mAh on the S9+. The new phone will get some automatic photo editing and a stylus that can serve as a remote control.
The ingredients appear to be in place for another Mourinho meltdown should United get off to a bad start and he believes even the scheduling of his side's opening fixture has made his task even harder.
One human case of the mosquito-borne illness was confirmed in DE last year, and that was the first such case in two years. Use insect repellent when outdoors; a repellent with DEET or Icaridin offers the most effective protection.
We look back now, and I guess him and his best friend had a convo and he was like, 'Dude. "Blacked is my favorite category". Jimmy Kimmel returned with a hip-hop edition of his popular " Mean Tweets " on last night's show.
1,600 people evacuated due to flash flooding in France
Several parts of central and southeast France are on flood alert after a blazing heatwave ended abruptly in storms on Thursday. About 750 people, mostly from campsites, were evacuated in the Gard region alone, local authorities announced last night.
Relations with Turkey are not good!
Erdogan has been putting pressure on the central bank to not raise interest rates in order to keep fueling economic growth. Turkish officials held talks in Washington this week but there was no breakthrough.
Everton sign Barça's Mina and Gomes, Shakhtar's Bernard
Nikola Vlasic is another who could depart with CSKA Moscow interested in a loan deal for the out-of-favour Croatia winger. Bernard , also 25, has signed a four-year deal with the Merseyside club after his contract at Shakhtar ran out in June.
Trump Doubles Tariffs on Turkish Steel, Aluminum Imports
As the crisis swelled he told his supporters not to worry. "Our relations with Turkey are not good at this time! " he noted. Last week, he called on Turks to convert their foreign currency and gold into Turkish lira to help the currency.
What Now in Washington with Guice Out for Season?
He played sparingly past year , and likely won't see his role increase that much as a result of Guice's injury. Guice was injured in Washington's preseason opener at New England on Thursday night.