23
Sunday
September 2018
8:46 AM IST
News Headlines
Hasan, Asghar, Rashid fined 15 per cent of their match fees        Ready to be sacked if ATK do not fare well: Coppell        Sensex ends in red after 1,000-pt flash crash        OYO to hire over 2,000 tech experts, engineers by 2020        Thousands rally across Russia against raising pension age        Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks        Sisodia, AAP MLAs discharged in case related to 2014 protest        We have no role in selection of Reliance Defence for Rafale deal: Govt        Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue        Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        Wreckage of Captain Cook’s ship found off US coast        Death toll reaches 136 in Tanzania ferry disaster with scores missing        Ravindra Jadeja, Rohit Sharma take India to comprehensive 7-wicket win        Naomi Osaka Eases into WTA Tokyo Event Semi-final        Let the boundaries go away: Pakistani youth sings Jana Gana Mana with full respect        Three kidnapped cops killed by terrorists in Jammu and Kashmir        Freak penne trending with dislikes and trolls        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
International News
'He's innocent': US threatens more sanctions on Turkey if pastor not freed
 
(Washington, Aug 17, 2018):Treasury Secretary Steve Mnuchin has warned the United States would levy more sanctions on the troubled Turkish economy if Ankara does not soon release a jailed American pastor.

Deepening a spat that has rattled financial markets and threatened to split a long-standing defense and political alliance, Mnuchin yesterday suggested the next spiral of tit-for-tat sanctions was coming soon.

"We have put sanctions on several of their cabinet members," Mnuchin told President Donald Trump in a cabinet meeting attended by the press, including AFP.

"We have more that we are planning to do if they don't release him quickly." Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend to America.

Referring to imprisoned pastor Andrew Brunson, Trump said "they have a great Christian pastor there, he's a very innocent man." The threat comes as Turkey sought to reassure investors rattled by the sanctions-fueled crash of the Turkish lira, insisting the country would emerge stronger.

Finance Minister Berat Albayrak, the son-in-law of President Recep Tayyip Erdogan, addressed hundreds of foreign investors from the United States, Europe and Asia via a conference call in a bid to soothe the markets.

The lira has clawed back some ground over the last two days -- after losing almost a quarter of its value on Friday and Monday -- but economists are warning that Turkey must urgently address its economic imbalances to avoid more troubles ahead.

"Turkey will emerge stronger from these (currency) fluctuations," Albayrak was quoted by state-run TRT television as saying during the conference call.

Albayrak rejected seeking a bailout from the IMF, an option never seen as likely given that Erdogan often boasts of paying off Turkey's past IMF debts in May 2013.

The lira, which earlier this week traded at well over seven to the dollar, held onto its gains during Albayrak's discussion, trading at 5.7 against the greenback.

"We will turn this crisis into an opportunity," said Erdogan's spokesman Ibrahim Kalin after a cabinet meeting chaired by the president, saying measures taken so far had helped bring about a "rapid improvement process" over the last two days.

But Albayrak, who was appointed last month in a largely unexpected move, will have a tough time restoring order to an economy plagued by high inflation and a current account imbalance.

The lira's months-long slide has accelerated as a result of the diplomatic standoff with Washington over Brunson's detention. A Trump tweet today announcing a doubling of aluminum and steel tariffs for Turkey triggered the rout in the currency markets.

The lira's drop in value is certain to further fuel inflation, which is already near 16 per cent.

Albayrak said there would be no concessions on fiscal discipline, adding: "We are targeting lowering inflation into the single digits as soon as possible." However, analysts are calling for a sharp hike in interest rates - which Erdogan adamantly opposes because it will put a brake on economic growth.

In an intensifying cycle of tensions with the United States, Erdogan has called for a boycott of US electronic goods such as iPhones and Ankara has sharply hiked tariffs on some US products.

He has also warned Ankara could start looking for new allies, as well as new markets.

Qatar, backed by Erdogan during the Saudi-led embargoes on the emirate in 2017, on Wednesday pledged to channel USD 15 billion direct investment into Turkey, a sign of burgeoning ties between the two countries.

Analysts say Turkey is also likely to seek a more dynamic economic relationship with China and Russia, with whom ties have warmed considerably in recent years.

Turkey has also in recent days shown an interest in repairing ties with Europe after a crisis sparked by Ankara's crackdown on alleged plotters of the 2016 failed coup.

Erdogan and his French counterpart Emmanuel Macron agreed in a phone call yesterday to foster trade ties, a Turkish presidential source said.

Albayrak spoke yesterday with his German counterpart Olaf Scholz and they agreed to "take steps in order to reinforce economic cooperation," Albayrak's office said.

Meanwhile, Turkish courts have moved to defuse other legal cases that have irritated relations with the EU.

An Istanbul court allowed the release of Amnesty International's Turkey chair Taner Kilic Wednesday, who spent more than a year in jail over alleged links to the 2016 coup bid.

And the day earlier, two Greek soldiers held by Turkey since March for illegally crossing the border were also freed.


Thousands rally across Russia against raising pension age
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks
Wreckage of Captain Cook’s ship found off US coast
Death toll reaches 136 in Tanzania ferry disaster with scores missing
Kim, Moon join hands on peak of sacred North Korean volcano
Palestinian schools strive to modernize classrooms
Trump: Declassified Russia probe papers expose 'bad things'
100 die in severe flooding in Nigeria: relief agency
Pak govt, Opposition agree for parliamentary probe into vote rigging charges
Air Tanzania to soon resume direct flights to India
Imran Khan govt auctions 70 luxury cars as part of austerity drive
Time Magazine sold to Marc Benioff for $190 million
Hurricane Florence: Death toll mounts to 14
Death toll rises to 8 as Florence pours on the rain
Evacuations underway as huge typhoon nears Philippines
South and North Korea open first liaison office for better communication
Amid deep budget cuts, $52,701 spent on curtains for Nikki Haley’s official residence: Report
Japan's Abe expresses support for better Trump-Kim ties
Police: 1 man dead in North Las Vegas school shooting
Putin urges 'security guarantees' for NKorea denuclearisation
ENTERTAINMENT NEWS
Chekka Chivantha Vaanam: Second trailer released
 The second trailer of Mani Ratnam movie Chekka Chivantha Vaanam released. The trailer almost reveals  
Freak penne trending with dislikes and trolls
Viswasam- On set photos leaked
Aiswarya- Abhishek's Gulab Jamun would go on floor in mid 2019
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
NATIONAL NEWS
Sisodia, AAP MLAs discharged in case related to 2014 protest
 New Delhi Sep 22 (PTI) A Delhi court on Saturday discharged Deputy Chief Minister Manish Sisodia, AA
We have no role in selection of Reliance Defence for Rafale deal: Govt
India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"
Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.