Turkey won't change its course due to outer economic pressure - Erdogan

Turkey will respond if US imposes more sanctions

In an intensifying cycle of tensions with the United States, Erdogan has called for a boycott of USA electronic goods such as iPhones and Ankara has sharply hiked tariffs on some U.S. products.

"The U.S. does not know, it can not see who its true friend is", Cavusoglu told reporters during his closing speech at the 10th Ambassadors' Conference in the capital Ankara.

"Turkey did not and will not surrender to those which try to make Turkey as a strategic target", he said in reference to the US without naming the country.

Referring to imprisoned pastor Andrew Brunson, Trump said "they have a great Christian pastor there, he's a very innocent man".

Turkish Finance Minister Berat Albayrak and his French counterpart Bruno Le Maire, on a phone call, agreed to act together against USA sanctions against Turkey.

"If the traitor in Pennsylvania is extradited to our country, the handover of the pastor may be in the offing, and both countries will get what they want", Devlet Bahceli, leader of a far-right political party allied with Erdogan, said Wednesday in Ankara, according to the Anadolu news agency.

"We are not making a cowboy film".

Turkish President Tayyip Erdogan has linked Brunson's release to the fate of Fethullah Gulen, a Turkish Muslim cleric living in the United States whom he blames for the July 2016 coup attempt.

ENERGY, BANKS The Turkish banking watchdog has taken steps to stabilise the currency, limiting futures transactions for offshore investors and lowering limits on swap transactions.

More news: Zinedine Zidane ‘wants to be Man Utd manager’

When Andrew Brunson saw a police summons on his door in late summer 2016, the USA evangelical pastor thought it was a routine appointment to sort out his residency papers in Turkey, his home for almost a quarter of a century. But some economists have called for more decisive moves.

Companies that for years have borrowed overseas at low interest rates have seen their cost of servicing foreign debt rise by a quarter in lira terms in two months.

The currency's fall has also sparked fears of an economic crisis in Turkey that could spread globally.

Qatar said it would provide "a host of economic projects, investments and deposits" worth 15 billion dollars to support Turkey's economy.

Traders may cash in on yesterday's gains going into the weekend amid lingering concerns about the financial crisis in Turkey and the outlook for the Turkish lira.

Deep concerns remain about the potential for damage to the economy, however. But the sell-off has increased the cost of servicing that debt, particularly for companies whose revenues are exclusively in lira.

But he suggested Turkish "policymakers only really seem to have done the minimum needed".

Turkey has the highest foreign exchange-denominated debt among emerging markets, Societe Generale said in its note on August 17, estimating its short-term external debt at $180 billion and total external debt at $460 billion.

The previous day two Greek soldiers held by Turkey since March for illegally crossing the border were also freed in a move warmly welcomed by Athens.

Related News:

  • Meteor shower lights up skies over Bosnia

    Meteor shower lights up skies over Bosnia

    As comets get closer to the sun, their frozen surfaces begin to boil off, leaving dust and rock in their wakes. Scientists are saying the Perseid meteor showers the next few nights promise to be rather stellar.
    Chad Kelly is officially the Broncos’ backup quarterback

    Chad Kelly is officially the Broncos’ backup quarterback

    He had a great spring, he's had a great camp, so it's his turn to be the [No.] 2 [quarterback]. "He's earned that right". You know I didn't see much of Case a year ago (in camp) so I can't speak much of that.
    Omarosa unveils new audio of Trump's call to her after firing

    Omarosa unveils new audio of Trump's call to her after firing

    But speaking on the NBC show Meet The Press yesterday, Ms Newman said that she had heard a tape of Mr Trump using the "n-word". Sure, it's going to look retaliatory, but at this point it couldn't look worse than it is at the moment for the White House .
  • Inside pictures from Priyanka Chopra, Nick Jonas engagement

    Inside pictures from Priyanka Chopra, Nick Jonas engagement

    As per a Pinkvilla report, Priyanka and Nick will be wearing traditional outfits for the roka ceremony . Former Jonas Brothers band member Nick , 25, shared the same photo , and wrote next to it: "Future Mrs.
    Oil dips as US dollar rises, Turkish tumult elevates demand concern

    Oil dips as US dollar rises, Turkish tumult elevates demand concern

    LONDON-Oil prices fell Wednesday after data showed a rise in USA crude stockpiles, following days of volatile trading. Sentiment was also clouded by a darkening economic outlook which could start impacting oil demand, traders said.
    White House paranoia deepens after Omarosa tapes

    White House paranoia deepens after Omarosa tapes

    In her new book, Unhinged , she writes: "Taken as a whole, all of her style rebellions have served the same goal ". Now, aides are wondering who else might be using a recording device to capture audio from private conversations.
  • Florida Hospital Orlando ranked best hospital in the metro area

    Florida Hospital Orlando ranked best hospital in the metro area

    Princeton Health, which joined Penn Medicine in early 2018, was ranked #10 in New Jersey and #20 in the New York Metro Area. News, a hospital is rated "high performing" in a specialty category if it's scored in the top 10% nationwide.
    Turkish lira rebounds after Qatar pledges $15 billion

    Turkish lira rebounds after Qatar pledges $15 billion

    As monetary policy goes, that stance might not make much sense to anybody - except, that is, President Recap Erdogan. Turkey is particularly friendly to the cryptocurrency ecosystem given that Turkish banks work with local exchanges.
    Manafort’s defense rests in financial fraud trial without calling a witness

    Manafort’s defense rests in financial fraud trial without calling a witness

    After 10 days of testimony from more than two dozen witnesses, prosecutors wrapped up its case against Manafort on Monday. Andrew McCarthy predicted the defense's closing argument in Paul Manafort's trial will hone in on one person: Rick Gates .
  • Manuel Pellegrini has no new injury concerns for Bournemouth match

    Manuel Pellegrini has no new injury concerns for Bournemouth match

    But on the evidence of this composed display, City have every chance of emulating their rivals' achievement. We can not be anything different than the challenger because we haven't won anything since I came in.
    Turkey to boycott U.S.  products including iPhone, says Erdogan

    Turkey to boycott U.S. products including iPhone, says Erdogan

    Turkey refused to release an American pastor who has been in detention in Turkey for almost two years now. On Monday, the Turkish currency hit a record low of 7.24 against the USA dollar in Asia Pacific trading.
    In Sweden showed this year’s last solar Eclipse

    In Sweden showed this year’s last solar Eclipse

    The next total solar Eclipse will occur July 2, 2019 and will be visible to people in the South Pacific and South America. Accordingly, the moon will be near "perigee", the closest point to Earth in the moon's orbit.

Most liked

United States threatens ‘second wave’ of Turkey sanctions over detained pastor
The US insists the pastor, a long-time Turkish resident, is "a victim of unfair and unjust detention". Turkish President Recep Tayyip Erdogan has accused the U.S. of trying to "bring Turkey to its knees".

Breakfast Products Contain Monsanto's Roundup, Says EWG
Farmers will spray the weed-killing chemical on crops, such as wheat, oats and lentils, before harvest . Simple Truth Organic Instant Oatmeal , for instance, didn't have the chemical in its oats.

Demolition of Babri Masjid: Here’s what Atal Bihari Vajpayee said
The meeting came on a day Imran Khan was voted as Pakistan's new prime minister by the National Assembly of that country. It was widely reported that he had suffered a stroke in 2009, which had largely confined him to his New Delhi residence.

Detroit church holds vigil for ailing 'Queen of Soul' Franklin
Jesse Jackson and Franklin's ex-husband Glynn Turman also paid her a visit at her home on Tuesday. A spokeswoman for the Franklin family confirmed the visits and said in a statement that Ms.

Former US security leaders blast Trump for yanking clearance
In a series of tweets, Trump also tweeted comments critical of Brennan, including that he "has gone off the deep end". Senior intelligence officials routinely retain their access to classified information and Mr.

Arsenal's Unai Emery - Playing out from back 'best way'
Danny Welbeck has also returned to full training and could be involved in west London. I want in each moment to know what is our best action to do in the match.

USA and China meet for trade talks
Previous rounds of talks between the two sides failed to make much progress, resulting in the outbreak of a trade war. The meeting would end a drought in talks since early June, when U.S.

Melbourne dethroned as the most liveable city in the world
After seven years at the top, Melbourne has been displaced by Vienna as the most liveable city in this year's ranking. The Economist said the lowest-scoring cities are connected to conflict and unavailability of adequate infrastructure.

Tragic Italian Bridge Collapse Footage And How It Could Have Been Prevented
The office of Prime Minister Giuseppe Conte said he was heading to Genoa in the evening and would remain there on Wednesday. More than 400 people were evacuated from buildings near or below the still-standing section of the bridge.

Amid Deteriorating Economy, Iran's Khamenei Rejects Talks with U.S.
It also prompted a registration flurry of new companies which had access to government dollars at concessionary prices. Rial's devaluation has presented the government of President Hassan Rouhani with possibly the most serious quandary.

Ben Stokes rejoins England squad after acquittal
Mbargo doorman Andrew Cunningham, 37, alleged he was offered £300 by Stokes to let him and Mr Hales back into the nightclub. Last week, the jury acquitted Mr Hale of the charge after the judge ruled there was insufficient evidence against him.

Man Utd boss Mourinho surprised by Pogba's 'I will get fined' claims
United manager Mourinho praised Pogba for being " absolutely brilliant " in Les Bleus' final three matches in Russian Federation . Asked after the game whether he is happy at the club, Pogba said: "There are things I can not say, otherwise I will get fined".

Tesla and Elon Musk hit by fresh lawsuits over stock rigging claims
Irons has a small position in out-of-the money put options on Tesla that make money if the stock declines. Musk, 18-cv-04865, US District Court, Northern District of California ( San Francisco ).

Aretha Franklin’s nephew gives health update on Queen of Soul
Franklin's music is at the center of an annual tribute to soul music called "Dancin' in the Street, Motown and More". One person influenced by Franklin is Desiree Washington, a local singer who performs as the legend in the musical.

What's behind the current US-Turkey spat?
He also emphasized that there was a plan in place for small to medium businesses, which he called the "real" economy. It also reached one-year lows against the yen and Swiss franc, safe harbors in times of stress.