Thursday, 15 November, 2018

Turkey ready for trade with partners, including Russian Federation, in national currencies - Erdogan

EUR  USD EUR USD
Patty Aguilar | 13 August, 2018, 04:41

Turkey, home to the Incirlik air base which is used by USA forces in the Middle East, has been a North Atlantic Treaty Organisation member since the 1950s.

The White House said the new sanctions would take effect from August 13.

The Euro opened this week's trading session gapping lower against its United States counterpart, responding to the Turkish Lira's sharp downturn last week.

The diplomatic spat sent the lira down 16% against the dollar on Friday.

Chase chief economist Anthony Chan discusses whether the drop in Turkey's lira will impact emerging markets.

This year, it lost more than 40 per cent.

"This is clearly an attack against the Turkish economy", he said.

Earlier Saturday, Erdoğan said that Turkey was preparing to increase trade with its top trade partners such as China, Russia, Iran and Ukraine in local currencies instead of the USA dollar, adding that it was also ready to do the same with European countries.

There are quite a few, a number of them addressed by Mr Erdogan in the New York Times.

Erdogan had on Saturday described interest rates as a "tool of exploitation", in remarks that may not be warmly welcomed by the markets.

Ministry gives support for smooth transfer of students from Canada
Over a hundred Saudi students studying at the University of Alberta could be affected by the political tension between Canada and Saudi Arabia.

"Palm's return to be a 3.3" Android phone
Moreover, the smartphone will come with 800 mAh battery that's exceptionally small by today's standards. And that's been made abundantly clear in a new leak for an upcoming Palm (yes, Palm) device.

'Almost flawless visual simile': Rowan Atkinson defends Boris Johnson in burqa row
Labour, which has faced continued pressure over its handling of anti-Semitism in the party, fell three points to 35%. Mr Johnson, who is holidaying overseas , has so far made no response to the launch of the Tory investigation.

The nominally independent central bank has defied pressure over the last few weeks to hike interest rates in the face of high inflation and the collapsing currency.

Erdogan has blamed outside forces for trying to bring down Turkey's economy.

Turkey's President Recep Tayyip Erdogan on Saturday accused the USA of exchanging its "strategic North Atlantic Treaty Organisation ally with a pastor", remarks that questioned why Washington was seeking to free its citizens detained by Ankara, including Pastor Andrew Brunson who has become the eye of a diplomatic storm between the two nations. It also led to a drastic decline in the value of the Turkish lira.

People change money at a currency exchange office in Istanbul, Turkey, Aug. 10, 2018. The currency is currently down 13.5% against the U.S. dollar, after a brief 20% fall, resulting from a Trump tweet that declared, "Aluminum will now be 20% and Steel 50%", and concluded: "Our relations with Turkey are not good at this time!"

The diplomatic dispute with the United States was one of the triggers for the turmoil this week.

On Sunday, Erdogan revealed details of talks between the two countries over the pastor, saying the United States had given Turkey until last Wednesday to hand him over.

Turkey has accused Andrew Craig Brunson of spying and "committing crimes on behalf of terror groups without being a member".

In response, President Trump tweeted in July, "The United States will impose large sanctions on Turkey for their longtime detainment of Pastor Andrew Brunson, a great Christian, family man and wonderful human being. During this period, Turkey has set records in its exports, production and employment", Erdogan said.

He added: "Relations with countries who behave like this have reached a point beyond salvaging". These include places "from Iran, to Russian Federation, to China and some European countries", he said.

Recommended

Halep, Stephens advance to Rogers Cup final Halep, Stephens advance to Rogers Cup final It's obviously upsetting that I didn't win, but I think I got better than the last final we played. Stephens fought off three match points for one final service break before Halep closed it out.

Popular Film Oscar category: A pointless and pandering misfire Popular Film Oscar category: A pointless and pandering misfire The Oscars ceremony running time is also being shortened, to three hours, and the date of the event moved forward to earlier in February.

Canada's job surge beats expectations, but there is a catch Canada's job surge beats expectations, but there is a catch From June to July Manitoba's unemployment rate held at six per cent, while the national unemployment rate declined. The report said the main cause of the drop was due to the fact fewer young people were looking for work.

Ronaldo scores first competitive goal for Juventus in pre-season friendly Ronaldo scores first competitive goal for Juventus in pre-season friendly Ronaldo , who joined the Serie A champions last month in a deal worth a £100million, made the flawless start to life in Turin. Of course, it helps when you see the people like you, the supporters and club like you, the feeling is completely different".

Virat Kohli injury update after England smash India at Lord's Virat Kohli injury update after England smash India at Lord's But, appropriately, Chris Woakes ended the match when he had Ishant Sharma caught at leg-slip by debutant Ollie Pope. Ajinkya Rahane, who scored a century when India played England at Lord's last time around, fell for 18 runs.

Australian cyclist killed by garbage truck while holidaying in NY Australian cyclist killed by garbage truck while holidaying in NY The advocacy group Transportation Alternatives says Ms Lyden's death underscores the need for protected bike lanes. Another witness added that Lyden had been with a friend, who "was shouting, 'Baby, baby, baby, wake up".

EUR/USD consolidates Turkey fears-led slide to 1.1430, US CPI eyed EUR/USD consolidates Turkey fears-led slide to 1.1430, US CPI eyed Trump's "jubilation in inflicting economic hardship on its North Atlantic Treaty Organisation ally Turkey is shameful", he wrote. On Friday the currency dropped as much as 18% at one point, the biggest one-day fall since a 2001 financial crisis in Turkey.

Fourth injured person in Saturday's raid on suspected terrorists dies Fourth injured person in Saturday's raid on suspected terrorists dies Jordanian authorities did not say Sunday what motivated the Fuheis attackers, and there was no claim of responsibility. In June 2016, a cross-border vehicle bombing by Daesh launched from Syria killed seven Jordanian border guards.

Arsenal vs. Manchester City live stream Arsenal vs. Manchester City live stream The future is bright, the future is Unai Emery (below). "What we'll see Arsenal do more this season is win games tactically". But, he has failed to make a good first-impression, largely thanks to his wobbly form in the pre-season.

Expected Arsenal Lineup To Face Manchester City Expected Arsenal Lineup To Face Manchester City New boss Unai Emery has also selected Petr Cech , Aaron Ramsey , Mesut Ozil and Granit Xhaka to be part of a leadership group. Arsenal finished sixth last season as they completed their campaign in dismal fashion.

Djokovic beats Polanskyn at Rogers Cup, Del Potro withdraws Djokovic beats Polanskyn at Rogers Cup, Del Potro withdraws Teenaged prodigy Shapovalov eliminated Italian 14th seed Fabio Fognini victor last weekend in Los Cabos, 6-3, 7-5. But the Canadian wilted after that, losing serve twice in the third set to knock him out of the tournament.

Chemists Discover How Blue Light Speeds Blindness Chemists Discover How Blue Light Speeds Blindness Blue light alone or only retinal without blue light had no effect on cells, but a combination of blue light and retinal was toxic. The process leads to age-related macular degeneration , or the death of photoreceptor cells in the retina .

Ronaldo taken to Ibiza hospital with pneumonia Ronaldo taken to Ibiza hospital with pneumonia Pneumonia is swelling of the tissue in one or both lungs and is usually caused by a bacterial infection. Since retirement, however, he has battled thyroid problems and gained significant weight.

‘Very confident’ - Chelsea defender impressed with Kepa ‘Very confident’ - Chelsea defender impressed with Kepa We are not a physical team. "They did a really quick and easy deal together, understanding the humanity of the situation". We made too many mistakes and missed our chances. "I have seen passion, desire, the spirit we usually have in our game".

Trump praises Kanye West: I'm honored by his support Trump praises Kanye West: I'm honored by his support Others thanked Kimmel for his question, saying that Kanye's silence proved there weren't any reasons to actually support Trump . The US President has since taken to Twitter to thank Kanye for his public show of support, adding "It is making a difference".