USA threatens new sanctions, Turkey vows to respond

USA threatens new sanctions, Turkey vows to respond

The American pastor jailed in Turkey on espionage and terrorism-related charges was praised by President Trump on Thursday who called him "a great patriot hostage" - and said the US would "pay nothing for the release of an innocent man".

Markets are concerned by Erdogan's influence over the economy and his resistance to interest rate increases to tackle double-digit inflation.

Turkey and its firms face repayments of almost $3.8 billion on foreign currency bonds in October, Societe General has calculated.

Turkey's biggest mobile phone importing companies have cancelled their iPhone orders as Turkish citizens join a move to boycott USA products.

He said: "We put sanctions on several cabinet members".

Referring to Brunson, Trump said: "They have a great Christian pastor there, he's a very innocent man". The currency picked up 6 percent and strengthened briefly at just under 6 to the dollar. For companies, the cost of servicing foreign debt has risen by a quarter in lira terms in the past two months.

Turkey and Qatar have become close economic and political partners.

Mr Trump's comments came as Turkey's finance minister Berat Albayrak attempted to reassure 6,000 global investors and economists on a video link that the country would emerge stronger from the crisis.

The lira firmed as far as 5.75 against the dollar on August 15 and stood at 6.1320 at 8:43 ET in a move initially triggered by the Turkish court decision on the Greek soldiers who faced espionage charges.

Aretha Franklin, Dead at 76, Recorded in Miami
Martin Luther King, Jr. where she performed a stirring rendition of " Precious Lord, Take My Hand ". That same year she was tapped to sing at the memorial service of Dr.

Turkish markets will be closed from midday on Monday for the rest of the week for the Muslim Eid al-Adha festival.

Qatar pledged to invest $15 billion in Turkish financial markets and banks amid the massive collapse of its currency.

However, deep concerns remain about the potential for damage to the economy.

Turkey has proven a key ally for Qatar over the past year, helping the tiny Gulf nation ride out a more than 14-month blockade by its powerful neighbors, including Saudi Arabia, with which it shares its only land border. But the sell-off has increased the cost of servicing that debt, particularly for companies whose revenues are exclusively in lira.

"The tariffs that the United States placed on Turkey were out of national security interests".

With a number of measures taken by the Central Bank of Republic of Turkey and the Banking Regulation and Supervision Authority (BDDK), the greenback started to retreat against the lira.

Qatar will make $15 billion of direct investment in Turkey, Qatar's leader said on a visit to Ankara on Wednesday, said Turkey's presidential spokesman.

Angry Turks tore up fake dollar bills in protest.

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