Muslim pilgrims climb Mount Arafat for peak of hajj
Afghan forces free 149 hostages taken by Taliban in ambush
British woman survives 10 hours in sea after falling off cruise ship
Giuliani on dangers of Trump-Mueller interview: 'Truth isn't truth'
UAE-based tycoons pledge ₹ 125 million for Kerala flood victims
Trump doubles steel and aluminum tariffs on Turkey
12 August 2018, 06:42 | Darnell Patrick
Berat Albayrak will issue a new economic plan today
The Turkish strongman also said his country's partnership with the United States may be in jeopardy, warning Ankara could start looking for new allies in an op-ed in the New York Times. Earlier it had fallen as much as 22 per cent.
On Saturday, Erdoğan said it was a pity the U.S. was choosing Brunson over its strategic North Atlantic Treaty Organisation ally.
The tumult also affected Wall Street, which finished the week on a sour note, with the Dow Jones, S&P 500 and Nasdaq all finishing down yesterday.
The defiant tone and war rhetoric only hurt the liramore, before Erdogan's finance chief and son-in-law, Berat Albayrak, tried to ease investor concerns during a conference, saying the government would safeguard the independence of the central bank.
"If there is anyone who has dollars or gold under their pillows, they should go exchange it for liras at our banks", he said during an address to supporters.
Turkey, he wrote, could turn to "other friend and allies", if the USA continued its more hawkish policy vis a vis Ankara, without elaborating who those friends and allies would be.
Erdogan, whose typical defiance in the face of the crisis has further unnerved investors, appealed to Turks' patriotism and urged support for their free-falling currency.
This came in the wake of sanctions imposed by Mr Trump for Turkey's refusal to free pastor Andrew Brunson, who the nation detained on terror charges despite the insistence of the United States he is innocent.
Partial Solar Eclipse Occurs Saturday! What to Expect
The moon's shadow travels above the earth's surface, and the sun's light (as seen from earth) is blocked out. The partial eclipse will hardly be visible from countries that fall below the Arctic Circle including India.
PresidentDonald Trumpannounced in a tweet that he would be increasing the rate of existing tariffs against Turkey, as the value of the Turkish lira plunges.
The currency's drop - 41 percent so far this year - is a gauge of fear over a country coming to terms with years of high debt, worldwide concern over President Recep Tayyip Erdogan's push to amass power, and a souring in relations with allies like the U.S. Inflation increased 16 percent in July, and Erdogan has insisted that interest rates not increase.
"Those who challenge a country like Turkey for the sake of petty calculations will pay a price both in our region and in their own politics", the Turkish leader said.
Turkey's currency crisis spilled loudly on to the global stage Friday as other markets, including U.S. stocks, took at hit from concern about financial contagion to other countries and banks.
On Friday, Erdogan spoke by telephone with Russian President Vladimir Putin.
It added that Trump's remarks were "not possible to reconcile with state seriousness".
Meanwhile, markets are deeply concerned over the direction of economic policy under President Recep Tayyip Erdogan, with inflation at almost 16%, but the central bank reluctant to raise rates in response.
Canada's main stock index also fell on Friday.
But Erdogan vowed there would be no easing of the law in Brunson's case, saying: "We have not made concessions on justice so far, and we will never make any". His comments suggest that the Turkish central bank does not act with full independence, CNBC reported on Friday.
Silva hoping to profit from Everton's spending power
Real Madrid was already pursuing the Belgium goalkeeper before striking the €35-million ($52.45-million) fee with Chelsea. The move however irked Guardiola who labelled Napoli president, Aurelio De Laurentiis' decision as unprofessional.
Loose underwear may be good for sperm production
Men fond of wearing tight underwear who are now trying to conceive a child might want to think again following a new study . Higher levels of FSH indicate that the body is pushing the testes to produce more sperm as counts are low.
Man City midfielder set for deadline day Wolves move
Last season's Championship title winners are ready to trigger the 22-year-old's release clause to push the deal over the line. Wolverhampton Wanderers have signed winger Adama Traore from Middlesbrough on a five-year contract.
Turkey faces financial turmoil over US tariffs
Last week, the United States government imposed economic sanctions against two Turkish ministers involved in Brunson's arrest . A Turkish delegation visited Washington for talks this week but left with no signs of a breakthrough.
Wall St. Falls Amid Turkey Woes; Banks, Tech Decline
Oil prices were down slightly as the escalating China-U.S. trade dispute cast doubt on the outlook for crude demand. The tech-heavy index was up 0.33 percent at 7,914.22, a quarter of a percent away from hitting an all-time high.
Finau ties PGA Championship record with 10 birdies
Built like a boxing heavyweight, no-one could lay a glove on him on this course that plays into the hands of the big hitters. At times he looked and seemed and played younger than his age on a day when he had to play 29 holes in unbearable heat.
Trump Calls Omarosa A 'Lowlife' Ahead Of Her Book Release
Manigault Newman went on to become Assistant to the President and Director of Communications for the Office of Public Liaison. White House press secretary Sarah Sanders said: 'This book is riddled with lies and false accusations.