Economy

Turkey will emerge stronger from lira crisis, finance minister tells investors

Turkey will emerge stronger from lira crisis, finance minister tells investors

Turkish President Tayyip Erdogan attends a news conference in Ankara, Turkey , August 2018. The Turkish government said tariffs on American cars will be doubled to 120 percent while those on al...

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Turkey court rejects new appeal to release detained U.S. pastor

Turkey court rejects new appeal to release detained U.S. pastor

Tariffs on American cars were doubled to 120 percent while tariff on alcoholic drinks to 140 percent. The Trump administration announced plans on Friday to double USA tariffs imports of steel and ...

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Turkey slaps retaliatory tariff hikes on key US products

Turkey slaps retaliatory tariff hikes on key US products

His detention has fractured relations with Washington, with U.S. President Donald Trump bringing in a raft tariffs for Turkey in punitive actions against Ankara's refusal to release Brunson. T...

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Bitcoin price keeps falling and just dipped below $6,000

Bitcoin price keeps falling and just dipped below $6,000

At the time of writing this, Bitcoin price is trading above the $6,300 mark, which means that it has lost more than 60% of its value since the start of the year. This represented BTC's high point ...

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Wisma Putra: No Malaysians affected in Italy bridge collapse incident

Wisma Putra: No Malaysians affected in Italy bridge collapse incident

Debris also must be cleared from railroad tracks, a vital link especially now that Genoa is largely cut in half by the loss of such a key artery, Premier Giuseppe Conte said . Earlier, the company sa...

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Turkey retaliates against Trump tariffs, hiking fees on U.S

Analysts question the effectiveness of any Turkish boycott of US goods and view Turkey's tit-for-tat taxes - imposed Wednesday on American exports, including cars, tobacco and alcohol - as mostly sy...

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China-US to resume trade talks after tit-for-tat tariff battle

China-US to resume trade talks after tit-for-tat tariff battle

The two countries are expected to launch a new round of tit-for-tat tariffs on $16 billion worth of goods from each country on August 23. Larry Hu, head of greater China economics at the Macquarie G...

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Retail inflation cools to 4.17% in July; pulses, vegetable prices eases

Retail inflation cools to 4.17% in July; pulses, vegetable prices eases

The Office for National Statistics said the retail prices index (RPI), which includes some housing costs, rose at 3.2%, lower that the 3.4% seen in June, but still well above CPI. This is likely to we...

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White House condemns Turkey's tariffs on US imports

Although the lira gained some respite on Tuesday, investors say measures taken by the central bank on Monday to ensure liquidity failed to address the root cause of lira weakness. "Rates have gone up ...

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Court rejects appeal for American pastor's release from detention, Turkish media says

Court rejects appeal for American pastor's release from detention, Turkish media says

Erdogan has reacted to the financial instability by blaming foreign powers, in particularly the United States, a longtime North Atlantic Treaty Organisation ally, which he says is waging an "economic...

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Turkey increases tariffs on some U.S. goods, escalating feud

Turkey increases tariffs on some U.S. goods, escalating feud

Turkey has been rocked in recent days by a sharp decline in the value of its lira after US President Donald Trump tweeted last Friday that Washington was doubling aluminium and steel tariffs for Ank...

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Shares slide on Monsanto cancer case

Shares slide on Monsanto cancer case

Throughout the proceedings, attorneys for Johnson told the court that Monsanto's negligence has amounted to a death sentence for their client, as doctors have now given him less than two-years to live...

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Brexit Britain: Unemployment Lowest in 40 Years, Wages Up, EU Migrants Down

Senior ONS statistician Matt Hughes said: 'The number of people in work has continued to edge ahead, though the employment rate was unchanged on the quarter. However, Scottish Secretary David Mundell ...

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Turkey’s lira crisis threatens to undermine global economy

Turkey’s lira crisis threatens to undermine global economy

But Sanders, at a Tuesday press briefing, declined to say how the US government plans to apply more pressure on Ankara, which repeatedly has ignored calls from Trump and others to free Christian pa...

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Transgender Democratic candidate makes history in state’s gubernatorial primary

Transgender Democratic candidate makes history in state’s gubernatorial primary

Grassroots conservatives and national Republicans face off once again in tonight's U.S. Senate Republican primary election in Wisconsin. Both she and Nicholson ran as strong supporters of President ...

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Oil edges up on Saudi output cut and Iran sanctions

Oil edges up on Saudi output cut and Iran sanctions

West Texas Intermediate crude pierced the 67.00 level after settling above it in the COMEX, poised to retest its recent multi-week lows. Oil prices moved sharply lower on Monday after data suggeste...

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NBC Blames Trump For Straining Relationship With Turkey Over American Pastor

NBC Blames Trump For Straining Relationship With Turkey Over American Pastor

While even a widespread Turkish boycott would do little to dent US economic interests, it shows Erdogan refusing to give in to market turmoil that's pushed borrowing costs to record highs and threaten...

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Erdogan says Turkey to 'boycott' US electronic goods

Erdogan says Turkey to 'boycott' US electronic goods

Asian markets fell overnight, while European markets were slightly lower. A bigger danger is that Turkey's crisis will spill over into other emerging market economies and there were signs on Monda...

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Omarosa’s White House recordings fuel Trump woes

Omarosa’s White House recordings fuel Trump woes

A campaign aide tells The Associated Press that it is filing the claim with the America Arbitration Association in NY, claiming her explosive new book and media tour breached her 2016 confidentiality ...

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Elon Musk Confirms Saudis Will Pay for Taking Tesla Private

Elon Musk Confirms Saudis Will Pay for Taking Tesla Private

Then on Tuesday, the Tesla board said it wasn't clear yet that going private made sense . In essence, what was initially considered to be a stupid weed joke has cost Musk the goodwill of Tesla ...

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California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate

California Wildfires: Thoughtful Authorities Help Keep Pet Fish Alive After Homeowners Evacuate

He said crews were able to hold it back from the majority of the summer homes in that area, and they are working to control the fire "back around the the southern fork" of Lake Pillsbury. About 3,900 ...

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Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low

Rupee Crosses 70 Per Dollar! Indian Currency Hits All-Time Record Low

The rupee has been on a downward spiral throughout 2018 after starting the year at 63.67. Lira is the national currency of Turkey , and a crisis has spooked investors, economists and policy make...

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Turkish lira crisis: market jitters send Indian rupee to record low

Asian markets fell overnight, while European markets were slightly lower. But the move "remains insufficient to provide full protection for the lira in times of distress in the absence of an outrigh...

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Why Turkey's currency is plunging and what it means

Why Turkey's currency is plunging and what it means

Turkey and other countries that borrowed freely when dollars were plentiful and cheap now face soaring debt payments they may no longer be able to make. Erdogan said Turkey is facing an "economic...

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Amid currency woes, Turkey accuses United States of ‘stabbing it in back’

Amid currency woes, Turkey accuses United States of ‘stabbing it in back’

Morgan Asset Management, wrote, as quoted by CNBC. Asian markets fell sharply overnight . Erdogan rejected speculation that Turkey would seek a rescue package from the International Monetary...

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Turkey has solid, strong economic dynamics, President Erdoğan says

Turkey has solid, strong economic dynamics, President Erdoğan says

The case of Andrew Brunson, an evangelical Christian, is one of a series of disputes that lies at the heart of deteriorating ties between the two North Atlantic Treaty Organisation allies. "I have jus...

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Iran's Khamenei bans holding direct talks with United States

Iran's Khamenei bans holding direct talks with United States

Still, Khamenei doesn't see an Iranian-US war coming down the pike anytime soon. Iranian President Hassan Rouhani condemned the sanctions as "psychological warfare", saying last week he would not be...

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Erdogan accuses United States of seeking to stab Turkey 'in the back'

Erdogan accuses United States of seeking to stab Turkey 'in the back'

The Euro suffered amidst concerns for European banks with substantial Turkish exposure and reports confirmed the European Central Bank (ECB) was indeed taking notice prompting markets to view de...

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Pound Slips to Lowest Since November Versus Euro on No-Deal Fear

Pound Slips to Lowest Since November Versus Euro on No-Deal Fear

In his accompanying note, Mr Patel explained that trading was light and in the last nine years, sterling has fallen more than 0.5% on seven occasions. While most of the blame for the pound's tumble ha...

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Trump OKs stiffer tariffs on Turkish metals as lira plummets

Mr Albayrak said the country would "act in a speedy manner" and its plan included help for the banks and small and medium-sized businesses most affected by the dramatic volatility in the lira. "I am s...

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