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By admin Published on Aug 16, 2018
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international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys central bank, will stop the liras hemorrhage. What is certain is that the Turkish economic crisis is multifaceted, and on the US side, a resolution is not likely anytime soon.

As Washington has rarely shown sufficient consideration for Turkish national interests, their bilateral alliance is far from stable

The liras value has been…

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How can Turkey tackle its financial crisis?
international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey…

Saudi Arabia praised for services and facilities for Hajj pilgrims
international africa

Author: Thu, 2018-08-16 04:46

MAKKAH: King Salman received thanks from guests at Custodian of the Two Holy Mosques Guests Program for welcoming and supporting pilgrims. They also thanked him for hosting them so that they can perform Hajj rituals.

The kings guests praised the services provided for them…

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How can Turkey tackle its financial crisis?
By
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
Saudi Arabia praised for services and facilities for Hajj pilgrims
By
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
Hajj halls at airport will ease pilgrims path, says transport minister
By
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil bin Mohammed Al-Amo..

SHORT

NEWS

How can Turkey tackle its financial crisis?
By
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
Saudi Arabia praised for services and facilities for Hajj pilgrims
By
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
Hajj halls at airport will ease pilgrims path, says transport minister
By
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil bin Mohammed Al-Amo..
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international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys…

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
/ Aug 16
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
/ Aug 16
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
/ Aug 16
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
/ Aug 16

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NEWS

How can Turkey tackle its financial crisis?
By
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
Saudi Arabia praised for services and facilities for Hajj pilgrims
By
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
Hajj halls at airport will ease pilgrims path, says transport minister
By
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil bin Mohammed Al-Amo..

SHORT

NEWS

How can Turkey tackle its financial crisis?
By
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
Saudi Arabia praised for services and facilities for Hajj pilgrims
By
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
Hajj halls at airport will ease pilgrims path, says transport minister
By
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil bin Mohammed Al-Amo..

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How can Turkey tackle its financial crisis?
In typical fashion, US President Donald Trump made a hasty and surprising decision this month
international africa
Saudi Arabia praised for services and facilities for Hajj pilgrims
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
international africa

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How can Turkey tackle its financial crisis?

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of…

SPORT NEWS
admin 16, Aug 6 mins
0 6 mins
international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys central bank, will stop the liras hemorrhage. What is certain is that the Turkish economic crisis is multifaceted, and on the US side, a resolution is not likely anytime soon.

As Washington has rarely shown sufficient consideration for Turkish national interests, their bilateral alliance is far from stable

The liras value has been dropping since even before Turkeys 2016 failed coup attempt, fuelled by a number of factors, including the sizeable amount of…

MORE ARTICLES IN THIS CATEGORY

SHORT

NEWS

How can Turkey tackle its financial crisis?
By
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
Saudi Arabia praised for services and facilities for Hajj pilgrims
By
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
Hajj halls at airport will ease pilgrims path, says transport minister
By
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil bin Mohammed Al-Amo..

SHORT

NEWS

How can Turkey tackle its financial crisis?
By
In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
Saudi Arabia praised for services and facilities for Hajj pilgrims
By
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
Hajj halls at airport will ease pilgrims path, says transport minister
By
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil bin Mohammed Al-Amo..
0 6 mins
international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys central bank, will stop the liras hemorrhage. What is certain is that the Turkish economic crisis is multifaceted, and on the US side, a resolution is not likely anytime soon.

As Washington has rarely shown sufficient consideration for Turkish national interests, their bilateral alliance is far from stable

The liras value has been…

MORE ARTICLES

Saudi Arabia praised for services and facilities for Hajj pilgrims
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from
Hajj halls at airport will ease pilgrims path, says transport minister
Author: Thu, 2018-08-16 04:38 JEDDAH: Saudi Arabias transport minister, Nabil
We take pride in our service, say female guides in Madinah
Author: Thu, 2018-08-16 04:05 MAKKAH: Female guides in Madinah expressed