Friday, 19 October, 2018

Turkey to say 'bye bye' to ally prefer for terrorists

The lira went into free-fall sinking more than 10 percent The lira went into free-fall sinking more than 10 percent
Pablo Mccormick | 13 August, 2018, 04:40

In what appears to be a diplomatic riposte, Turkey later said Erdoğan had held a phone call with Russian president Vladimir Putin to discuss economic ties, suggesting it might gravitate further away from its North Atlantic Treaty Organisation allies toward cooperation with Russia, whose relations with the west are at their lowest since the cold war.

The Turkish president repeated his call for Turks to support the lira by converting any dollars or euros they own into the national currency.

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.

Relations between the two countries deteriorated in the wake of US President Donald Trump's decision to increase tariffs on Turkish aluminum and steel to 20% and 50% respectively.

'The aim of the operation is to make Turkey surrender in all areas from finance to politics, ' Erdogan told his party members in the Black Sea city of Trabzon. "You prefer a pastor to a strategic ally of yours in North Atlantic Treaty Organisation".

The US on August 1 imposed financial sanctions on its North Atlantic Treaty Organisation ally, blocking Turkey's ministers of justice and interior from doing business with Americans. "Don't heed them", Erdogan said.

Look up for the Perseid meteor shower this weekend
Lucky observers may see the occasional meteor sailing across the sky for several seconds, leaving behind a trail of glowing smoke. Rupinder Brar says the annual Perseid meteor shower will be visible Saturday night, early Sunday morning and Sunday night.

The nominally independent central bank has defied pressure over the last few weeks to hike interest rates in the face of high inflation and the collapsing currency.

Addressing for the first time on Friday to a rally of his supporters, he said, "If they have dollars, we have our people, we have our right and we have Allah!"

He said high foreign exchange rates were being used as a weapon against Turkey.

"The currency of our country is targeted directly by the United States president", Finance Minister Berat Albayrak told the Hurriyet.

Turkey's woes have been aggravated by investor worries about the economic policies of Mr Erdogan, who won a new term in office in June with sweeping new powers.

In an opinion piece in the New York Times Friday, Erdogan wrote "failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies".

Oscars to add 'best popular film' award, shorten gala
So the Academy of Motion Pictures Arts and Sciences announced some changes , including a new category: most popular film. The introduction to the "Best Popular Movie" category is a slap in the face to movie lovers everywhere.

It said it would support steel and aluminium exporters on all global platforms, and the USA remained an important trade partner.

On Saturday, Turkish president Recep Tayyip Erdogan warned the U.S. that it could lose a "strategic partner", declaring a rally: "We only bow before God".

The US responded by slapping sanctions on Turkey and threatening more.

Paul Greer at Fidelity International said dramatic interventions were now needed as Turkey faced a "downward spiral" of investor confidence.

"The US has to rehabilitate its addiction to sanctions (and) bullying or the entire world will unite - beyond verbal condemnations - to force it to", he warned.

"The last time I can remember a currency exploding into a similar acceleration of weakness to what we have seen in the past 24 hours is the Russian ruble crisis that transpired late in 2014", Jameel Ahmad, the head of currency strategy at FXTM, said.

Confirmation hearings for Supreme Court nominee Brett Kavanaugh to begin September 4
If Brett Kavanaugh was fit to be on the Supreme Court, Senate Republicans would have no issue releasing his full records. He further touted the nominee as a mainstream judge with a record of "applying the law as it is written".

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