Turkey bans property rent, sales in foreign currency
Turkey bans property rent, sales in foreign currency
Turkey's Autocratic President Has Named a New Chair of Its Sovereign Wealth Fund: Himself
16 September, 2018, 00:38
The central bank hiked the one week repo auction rate 625 basis points from 17.75 percent to 24 percent, significantly higher than the Bloomberg consensus of an increase to 21 percent.
Those rises followed gains on Wall Street Thursday, with the Dow Jones Industrial Average ending 0.57 percent higher, the S&P 500 gaining 0.53 percent and the Nasdaq Composite adding 0.75 percent.
Erdogan also issued a decree in the country's Official Gazette stipulating that transactions for property sale, rental, business and service contracts must be conducted in Turkish lira, rather than in foreign currencies.
The bank's Monetary Policy Committee said in a statement it was implementing "a strong monetary tightening to support price stability". Erdoğan has always been pressuring the bank to keep interest rates low to encourage economic growth.
On Friday, the lira stood at 6.0342 to the dollar at 0728 GMT.
In his speech on Friday, Erdogan said Turkey would see the result of central bank's independence after it lifted interest rates, adding that his patience with interest rates had limits.
Storm Florence: The impact in numbers
The evacuation order for the Lowcountry is lifted as Tropical Storm Florence moves out of the coast areas and into the Midlands. More than a million people along the coastlines of North Carolina , South Carolina and Virginia have been ordered to evacuate.
Pope Francis to Meet with US, World Catholic Leaders
Conference of Catholic Bishops , and also include Francis's top adviser on issues related to sex abuse, Cardinal Sean O'Malley. A US bishop accused of molesting adults resigned on Thursday, in the latest sex abuse scandal to rock the Catholic Church .
A growing crisis became acute earlier this year following the detention of an American pastor on espionage and terror-related charges, which prompted Donal Trump to double the import tariffs on Turkish steel and aluminium.
Signs of movement in the US-China trade stand-off and a bumper interest rate hike in emerging market trouble spot Turkey sent world shares higher today as risk appetite returned. In August of past year, one dollar bought Three.5 lira; at some level of the last month it fetched more than 6.
Meanwhile, Turkish Finance Minister BeratAlbayrak said earlier this month in an interview that the Turkish Central Bank has independent government and will take all necessary measures to fight inflation.
The fund was established in August 2016 and tens of billions of dollars worth of state assets including - wholly state-owned - Ziraat Bank were transferred to it in 2017.
Erdogan has no longer helped his case by doubling down on his intransigence some other time the US, analysts remark.
The euro hovered around $1.1620, having gained around 0.6 percent so far this week. Its recent account deficit in the first six months of 2018 hit $31.2 billion, up simply about $10 billion from the same length previous year.
"Anyone who is not involved in exports or imports shouldn't see his path intersect with foreign currencies", the president said. The lira's erratic strikes maintain knocked tons of of functions off global markets in single trading days, and precipitated sell-offs across rising markets. Japan's Nikkei stock index was 1.2 percent higher.
The 51-year-old battled relentlessly, but his efforts went unrewarded and his team found themselves 2-0 down at half-time. Weah, who became the first African victor of the Ballon d'Or in 1995, was elected president of Liberia last December.
Ultimate is getting a special hardware bundle with the Nintendo Switch system, and it's coming out before the game itself. Kirby's Epic Yarn is leaping from the Wii, on which it was released in 2011 and on Wii U in 2016, to 3DS next year.
Expert scientists, however, had said they were anxious about Brunswick because of scant public information about its readiness. It was expected to begin pushing its way westward across SC later in the day, in a watery siege that could go on all weekend.
I don't know (the chances) he told me other things, he told me he wants to play but I don't know, I have to speak to him again. Cardiff went into the global break with a 3-2 loss to Arsenal , a game that earned the Gunners their second win of the season.
At least 12,000 people had taken refuge in 126 emergency shelters, Cooper said, with more facilities being opened. Since midnight, peak wind gusts reached 32 miles per hour in Raleigh and 47 miles per hour in Fayetteville.
There is, so far, no full exit deal and it is uncertain whether May can push an agreement through the British parliament. Mrs May last month hailed her Chequers plan as a document that "delivers on the Brexit people voted for".
Apple announced on stage Bell Canada will be the only carrier in Canada to support eSIM on iPhone Xs and iPhone Xs Max at launch. It's an OLED panel with a resolution of 2688x1242 giving it the same density as the smaller iPhone Xs at 458 ppi.
The American government is ready to deal with the aftermath of the hurricane but people should get out of the way, Trump said. Hurricane Florence hit Wilmington as a category 1 storm causing widespread damage and flooding along the Carolina coastline.
White House Buckles in For Hurricane Florence
An additional 25 percent of deaths are related to rain, he said. "Even if you've ridden out storms before, this one is different". Jeff Byard of the US Federal Emergency Management Agency said it was imperative locals heed the evacuation warnings.
Isaac back at tropical storm strength: U.S. NHC
And Hurricane Florence will take aim at the Southeast coast of the United States late this week, likely as a major hurricane . Evacuation orders have been lifted in several coastal SC counties as Florence continues to dump rain on the state.
Trump Denies Puerto Rico's Hurricane Maria Death Toll
Cruz had earlier described the federal disaster response in the United States territory a "despicable act of neglect". DeSantis spokesman Stephen Lawson said the former congressman "doesn't believe any loss of life has been inflated".
Jaime Munguia Talks Canelo-Golovkin, Cook, More
He will make his second title defense against Brandon Cook (20-1, 13 KOs), 32, of Toronto, who weighed 153.2 pounds. Golovkin and Alvarez put on a real fight that had a little bit of everything - except a victor .
Hurricane Florence closes in on USA east coast
Overall, unsafe storm surge is possible all the way from Edisto Beach, South Carolina , to the North Carolina/Virginia border. The hurricane came ashore early on Friday, pounding the state with torrential rain and high winds.