Pastor Brunson appeal for house arrest release rejected by Turkish court

17 August, 2018, 22:42 | Author: Gerard Cortez
  • The Emir of Qatar has pledged $15billion of investment in Turkey following a meeting in Ankara

The Turkish lira eased slightly but remained below 6.0 against the dollar on Thursday after the United States ruled out removing steel tariffs on Turkey even if Ankara freed a U.S. pastor, and after Qatar pledged $15 billion in investment to Turkey.

Thanks to United States President Donald Trump's actions and sanctions on Turkey, the freezing climate between the European Union and its confirmed candidate in recent years have started to give signals of moderation.

U.S. Treasury chief Steve Mnuchin earlier said the U.S. could put more sanctions on Turkey.

Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend to America.

Treasury Secretary Steven Mnuchin on Thursday evening said that the USA could look to impose fresh sanctions on Turkey if President Erdogan doesn't release imprisoned American pastor Andrew Brunson. "We haven't seen the last of that".

Trump, who doubled steel and aluminum tariffs on Turkey, said the steel tariffs have kicked in the aluminum tariffs will take effect soon. We are not going to take it sitting down. "He's an innocent man".

Meanwhile, Turkish people in social media tend to expand boycott in other USA products ranging from textile to fast food. The lira's sharp decline has sparked fears in the worldwide community of a Turkish economic crisis.

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Turkey's currency, which had recovered from record losses against the dollar earlier in the week, was down about 6 percent against the dollar on Friday, at 6.17.

Investor attention was focused on a conference call which Finance Minister Berat Albayrak will hold at 1300 GMT to reassure global investors.

Mr Albayrak, President Recep Tayyip Erdogan's son-in-law, said the country's banks were healthy and strong and the nation would not be turning to the International Monetary Fund for a bailout.

The problem with the new strategy is that it aims directly towards Apple which remains unaffected as Turkey relies on Apple and not the other way around, according toMashable.

"Even if tensions between the United States and Turkey are resolved, investors still need to see serious fiscal and monetary measures to restore confidence".

Turkey's biggest mobile phone importing companies have cancelled their iPhone orders as Turkish citizens join a move to boycott US products. "We are together in North Atlantic Treaty Organisation and then you seek to stab your strategic partner in the back".

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