Saturday, 15 December, 2018

Turkish lira rebounds after Qatar pledges $15 billion

Damage to Euro from Lira Crisis has its Limits: CBA Tensions Rise Between Turkey And U.S. After Trump Sanctions
Kelvin Reese | 17 August, 2018, 10:13

USA sanctions against Turkey recently sent the country's currency, the lira, into free fall.

Turkey has retaliated by announcing Wednesday that it will increase tariffs on certain US products, including on cars, rice, alcohol, coal and cosmetics.

Turkey's Vice President Fuat Oktay wrote on Twitter that the doubling of tariffs was done "under the principle of reciprocity", in response to America's "conscious attacks on our economy".

The US has imposed sanctions on two Turkish ministers over the trial on terrorism charges of a US evangelical pastor in Turkey, and last week Washington raised tariffs on Turkish metal exports.

American pastor Andrew Brunson, if convicted, faces a jail term of 35 years.

"We have put sanctions on several of their cabinet members", Treasury Secretary Steve Mnuchin told President Donald Trump in a cabinet meeting attended by the press.

The White House says "we won't forget" how Turkey has treated a detained American pastor, after a court rejected his appeal for release.

Turkey refused to release an American pastor who has been in detention in Turkey for almost two years now.

Rival Korean leaders to meet in Pyongyang in September
The schedule had mostly been coordinated with North Korea and the summit would likely be held in Pyongyang, it said. The North said it was making efforts to disarm, but Mr Cho said there were no new details on those efforts.

Ambassador urges Britain to ditch support for Iran nuclear deal
In his article Mr Johnson writes: "America is turning up the pressure and we want the United Kingdom by our side". Tuesday. "We are asking global Britain to use its considerable diplomatic power and influence and join us".

Honda Civic Gets Sport Trim For Coupe And Sedan
A 2.0-liter engine connected to a CVT or six-speed manual transmission makes sure the Civic Sport drives as well as it looks. Other cosmetic changes include new wheel designs, and larger 18-inch alloy wheels for the top-spec non-sports trim level.

The lira strengthened some 4 per cent against the dollar, to around 5.75 per dollar.

Speaking of Brunson's case, Sanders said, "We feel that Turkey and specifically President Erdogan have treated Pastor Brunson. very unfairly, very badly".

Turkey's business lobbies have also called for a tighter monetary policy to stabilize the lira, and for a diplomatic solution to the United States-Turkish dispute.

Washington doubled sanctions on Turkish steel and aluminum as officials complained that Turkey's move to shift Brunson from prison to house arrest had failed to meet Washington's demand for his full release and return to the U.S.

According to the Hurriyet Daily, a significant number of importers have begun to withdraw their short and long-term orders after Turkish President Recep Tayyip Erdogan's appeal to boycott US electronic products on Tuesday.

The currency had rebounded some 6 percent on Wednesday after the central bank squeezed lira liquidity in the market, effectively pushing up rates and supporting the currency.

He stressed that using Turkish liras in trade would be provided throughout the country.

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