Turkish court rejects U.S. pastor Brunson's appeal for release: Haberturk

Turkish court rejects U.S. pastor Brunson's appeal for release: Haberturk

The Gulf state made the investment as Turkey grapples with a collapse in the lira and tensions with North Atlantic Treaty Organisation ally the United States.

Investors said Albayrak's conference call would test whether Turkey can persuade markets that its monetary policy is not hostage to political influence.

Gold prices shed over one per cent on Thursday to hit their lowest in more than 19 months, with the U.S. dollar holding steady near a recent peak as concerns about a Turkey crisis and China's economic health weighed on emerging market currencies.

Brunson, an Evangelical pastor residing in the coastal province of Izmir, is standing trial in Turkey over terrorism charges.

Tamim bin Hamad Al Thani, the Amir of Qatar, tweeted: "Today, in the framework of important negotiations with His Excellency President Erdogan in Ankara, we announced a package of deposits and investment projects worth $15 billion in this country, which has a productive, strong and robust economy".

The Turkish lira has become volatile again at the end of a tumultuous week, after the United States warned of more sanctions against Turkey. U.S. Treasury Secretary Steven Mnuchin told Trump at a cabinet meeting on Thursday that more sanctions were ready to be put in place if Brunson were not freed.

A decree by Erdogan doubled Turkish tariffs on imports of United States passenger cars to 120 per cent, alcoholic drinks to 140 per cent and leaf tobacco to 60 per cent. Tariffs were also doubled on goods such as cosmetics, rice and coal. The decree also doubled tariffs on American cosmetics, rice, and coal, among other imports.

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Turkey has sought to persuade the United States to spare Turkey's state-owned Halkbank from a threatened fine for allegedly helping Iran evade U.S. sanctions.

'If (the United States) have the iPhone, there's Samsung on the other side, ' he said, referring to U.S. giant Apple's iconic phone and the top South Korean brand.

The currency has recovered from record lows earlier this week.

Efforts to rally support and bolster domestic markets included a call Thursday between Turkish Finance Minister Berat Albayrak and global investors.

The lira, still down 34% against the dollar this year, firmed to 5.7700 by 12pm Irish time from a close of 5.95.

Spot gold was down 0.8 per cent at $1,164.71 an ounce, as of 0055 GMT.

Turkey says the case is a matter for the courts.

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