Turkey's Erdogan vows USA boycott, but diplomats resume talks

16 Août, 2018, 12:08 | Auteur: Auguste Feret
  • The lira plunged to a fresh record low of 7.24 against the dollar during in Asia Pacific trade where markets were opening for Monday morning. Ismail Ferdous  Bloomberg

State Department spokeswoman Heather Nauert said Turkey's economic woes were not started by USA sanctions.

The Turkish unit had been under pressure for weeks over growing concerns about the health of the economy but the currency slumped on Friday and Monday, when US President Donald Trump announced Washington was ramping up aluminium and steel tariffs. He showed no signs of backing down in the stand-off and suggested that Turkey would stop procuring US-made iPhones and buy Korean Samsung or Turkish-made Vestel instead.

"You now have another huge selloff in EM, which has been exacerbated by Trump's willingness to jam on more and more sanctions when countries are having trouble in the market - like adding to the sanctions on Turkey", Haidar said. Ties between the two North Atlantic Treaty Organisation allies have also nosedived over USA support for Syrian Kurdish forces, Ankara's plans to buy a Russian missile system and Turkey's demand that Washington extradite US-based Islamic cleric Fethullah Gulen, whom Erdogan blames for the failed July 2016 coup bid.

The lira has lost more than 40% this year and crashed to an all-time low of 7.24 to the dollar early on Monday, hit by worries over Erdogan's calls for lower interest rates and worsening ties with the United States.

Action from Turkey's central bank pushed the lira higher for a second day on Wednesday, helping European stocks and emerging currencies consolidate recent losses though the dollar ensconced at 13-month highs kept up the pressure on world markets.

That has resulted in an interest rate differential that will continue to widen (and be exaggerated by the blow-out in the USA government's deficits and borrowing requirement as a result of the Trump tax cuts and spending increases).

However, foreign currency suppliers in the United Kingdom are struggling to meet demand for Turkey's collapsed currency.

The greenback had drawn strength after a tough week for emerging market currencies, initially led by the rout in the Turkish lira.

Turkey has accused the United States of waging an "economic war" as part of a plot to harm the country.

Rep. Brenda Lawrence to Trump: 'Shame on you' for Omarosa comments
"It was so ugly", Ryan said during an appearance on SiriusXM's "Karen Hunter Show" on Tuesday . She also said that the jacket in question was not meant to send a message to anyone.

Spider-Man PS4 Game Trailer Spotlights Avengers Tower, Sanctum Sanctorum & More
The trailer hints at a larger Marvel universe with new looks at Avengers Tower, Doctor Strange's Sanctum Sanctorum, and Oscorp Industries.

MRI shows kids benefit from parental conversation
It has been thought that a child's exposure to language could predict their linguistic and cognitive skills and later academic achievements.

Still, it looks like Malaysians may have to fork out more ringgit if they plan make a trip to the U.S. in the near term.

"We will implement a boycott against America's electronic goods", Erdogan told the conference.

"There is a price we're paying for the period we're in", Erdogan said, referring to his country's plummeting currency.

"What you want to see is tight monetary policy, a tight fiscal policy and a recognition that there might be some short-term economic pain - but without it there's just no credibility of promises to restabilise things", said Craig Botham, Emerging Markets Economist at Schroders.

Dollar-denominated bonds issued by selected Turkish banks continued to fall on Tuesday, although sovereign bonds steadied.

Meanwhile, the lawyer representing Andrew Brunson, the American pastor at the center of the dispute, renewed an appeal for his release from house arrest and for a travel ban imposed on him to be lifted.

Relations between Washington and Ankara have taken a turn for the worse amid bitter dispute over the detention in Turkey of an American evangelical pastor on terrorism charges.

A court in the western Turkish city of Izmir rejected a new appeal to free Brunson on Wednesday, the state television TRT reported.


  • B.C. declares state of emergency over wildfires

    There are also 48 evacuation alerts that have 18,720 people across the province ready to leave their homes at a moment's notice. By this time previous year , hundreds of homes been lost to wildfires and tens of thousands of people had been displaced.
    Jon Gruden Khalil Macks Holdout Hasnt Been Distraction

    Jon Gruden Khalil Macks Holdout Hasnt Been Distraction

    Gruden is confident Mack will be in silver and black for many years. "In the time being, you've got to move on. Just how important is Mack to the Raiders' defense? "[Mack] is the total package".
    'Mystery pooper' will get more than $100K from school district

    'Mystery pooper' will get more than $100K from school district

    Tramaglini has also put the Holmdel Police Department on notice that he will sue them for $1,000,000 for releasing his mugshot. A janitor has since taped over the original footage that allegedly captured Tramaglini, according to Adams.
  • Man City scout under investigation for alleged racist descriptions of black players

    Man City scout under investigation for alleged racist descriptions of black players

    A statement from Manchester City said: "A complaint was received last month and immediately raised to the appropriate department". Another was said to have made their feelings known in a letter of complaint that was sent to the club soon after the meeting.
    U.S. Warns on Russia's New Space Weapons

    U.S. Warns on Russia's New Space Weapons

    Russian President Vladimir Putin speaks after his meeting with US President Donald Trump at the Presidential Palace in Helsinki, Finland, in July.
    Victor Moses retires from worldwide  football

    Victor Moses retires from worldwide football

    He added that the time has come to "allow the next generation of Super Eagles stars the opportunity to step up and flourish". Chelsea winger Victor Moses stunned the Nigerian football community by announcing his global retirement on Wednesday.
  • Jim Carrey Explains Why He Took a Break From Hollywood

    Jim Carrey Explains Why He Took a Break From Hollywood

    In fact, it took a very special role and an old collaborator to convince Carrey to once again step in front of the camera. Around 2010, though, Carrey stopped acting as much, and when he did accept a part, it was in projects, like Mr.
    Zanu-PF files opposing papers against MDC

    Zanu-PF files opposing papers against MDC

    The court must rule within 14 days of an election challenge being lodged. Zimbabwe's President Emmerson Mnangagwa at a Zanu-PF election rally.

    Colin Jost slammed for comments about awards shows, #MeToo movement

    In the video above, the Saturday Night Live Weekend Update anchors say they are very excited to host the annual awards show. In an interview with the LA Times , Jost answers the question "Are you fond of awards shows?" with an actual "Eh".
  • Rooney strikes twice as DC down Portland 4-1

    Rooney strikes twice as DC down Portland 4-1

    DC goalkeeper Hamid started in his first appearance since rejoining United on a 1 1/2-year loan from the Danish club Midtjylland. For Portland, Samuel Armenteros had got them off to a good start after scored his eighth goal of the season in the 35th minute.
    Huckabee Sanders: Trump Has Revoked John Brennan’s Security Clearance

    Huckabee Sanders: Trump Has Revoked John Brennan’s Security Clearance

    Brennan shot back saying "So disheartening, so risky for our nation". "Won't have any effect on what I say or write". On Wednesday the President returned the favor when the White House announced that Mr.
    Trump goes after Sessions: No Mueller probe 'if we had a real attorney general'

    Trump goes after Sessions: No Mueller probe 'if we had a real attorney general'

    The president blamed Attorney General Jeff Sessions for the course special counsel Robert Mueller took in his investigation and argued it should focus on Hillary Clinton and the Democrats.


At least 38 people killed in Genoa bridge collapse, national anger grows
Engineering experts say it's too early to say why the bridge disintegrated, but point to a history of problems with its design. Genoa is a flood-prone city, and officials have warned that the debris from the collapse must be removed as soon as possible.

Johnny Manziel misses second practice with Alouettes
I told [teammates] no matter what, you're not going to take me out like that. The Alouettes are scheduled to visit the Eskimos at 8 p.m.

Heart Evangelista dubbed 'Real Crazy Rich Asian'
Actress Heart Evangelista is a real-life insane rich Asian - and that brought her face to face with novelist Kevin Kwan himself. It also features two other Filipino actors, Kris Aquino and Nico Santos.

Fernando Alonso to leave Formula 1 after 2018 season
Alonso, whose best finish for McLaren so far was 10th in 2016, said he would carry on endeavouring to finish with a flourish. Sport pundit Palmer, who raced for Renault in F1, has now offered up his glowing verdict on the 37-year-old.

Fury not concerned by having Wilder at ringside
Fury's fight with Germany's Pianeta, 33, features on the undercard of Carl Frampton's against Luke Jackson. "I study my heavyweights and I know he's fought some good men".

Corporate Parent Behind The North Face, Timberland Moving To Denver
VF Corp.is the parent company of The North Face , JanSport and Smartwool, among others. VF will begin moving into its Colorado headquarters in mid-2019.

Kobe Bryant turns $6 million sports drink investment into $200 million
James and his business partner Maverick Carter put less than $1 million into fast-casual pizza chain Blaze in 2012. On Tuesday, Coca-Cola announced it had purchased a minority stake in the drink.

Shooter has been cancelled
Discussions are said to be underway at Paramount Network, though a source told the outlet it is unlikely it will land there. Ryan Phillippe's U.S. show Shooter has reportedly been cancelled by USA.

Xiaomi POCO F1 to launch in India on August 22
According to the poster, the POCOPHONE F1 will launch in India on the 22nd of August which falls on Wednesday next week. Pocophone F1 will maintain an audio jack port for those not yet using wireless headphones and will support dual SIMs.

Tyrod Taylor to be starting QB over Baker Mayfield
Taylor, who was acquired from the Bills in March, threw for 99 yards and a score in his first preseason game with Cleveland. That logic, while frustrating for some to see a No. 1 overall draft pick sitting on the bench, does make sense.