Home » Money

Turkey has more to ‘lose’ in Apple boycott

17 August, 2018, 22:41 | Author: Lawrence Cooper
  • Turkey's Move to Double Tariffs on US Goods a 'Step in the Wrong Direction,' White House Says

Treasury Secretary Steve Mnuchin said during a cabinet meeting Thursday that the U.S.is prepared to levy more economic sanctions against Turkey if Brunson is not released. We've put sanctions on several of the cabinet members.

Tensions between Turkey and the USA have been on the rise as Trump has pressed for the release of the pastor.

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

"They are now holding our wonderful Christian pastor, who I must now ask to represent our Country as a great patriot hostage".

The White House has said that Turkey's tariff hikes on USA products in retaliation for sanctions against Ankara were "regrettable" and again called for the immediate release of American pastor Andrew Brunson.

Analysts also said the political cost of the investment remained to be seen, given that Qatar is also a USA ally and dependent on Washington for both military and political protection.

Trump, who doubled steel and aluminum tariffs on Turkey, said the steel tariffs have kicked in the aluminum tariffs will take effect soon.

Qatar to invest $15b in Turkey's financial markets and banks
Following the Qatar news, the lira firmed briefly to 5.8699 from 6.04 to the dollar, before easing back to 6.0500 by 1658 GMT. Brunson's lawyer told CBS News that a higher court was still considering the appeal and could overrule that decision.

Ousmane Dembele's screamer vs Sevilla proves his comments in 2016 were true
His comments confused everyone at the time, but after his screamer against Sevilla they're starting to make a lot more sense. The Brazilian was in no doubt as to how important a part both Ousmane Dembele and Marc-Andre ter Stegen played in the match.

Federal Bureau of Investigation agent Strzok, who criticized Trump in text messages, is fired
The delays were merely the "result of bureaucratic snafus", Strzok's lawyer wrote last month in USA Today. Bowdich ordered the firing, according to Strzok's attorney, Aitan Goelman, the Washington Post reports .

Yet, the crisis that we face in American-Turkish relations goes well beyond the plight of the pastor. "He's a very innocent man", Trump said.

USA stocks climbed higher in afternoon trading after a Mexican economic official told reporters that trade talks between the United States and Mexico were "advancing well".

Turkey is also seemingly on the brink of a major debt crisis, as a weakening lira makes it harder for Ankara to pay its global dues. The currency has rebounded strongly after hitting a record low of 7.24 at the start of the week, bolstered by central bank measures to support it and Qatar's pledge to invest $15 billion in Turkey. However, if Washington were to place further sanctions on Turkey, it is highly likely that the lira would see another slump, which would in turn exacerbate the problems with Turkey's fragile economy.

Three big companies operating in Dogubank, a trade center specialized in the sales of electronic products in central Istanbul, suspended 50 million USA dollars' worth of iPhone orders, the Turkish daily said.

A day earlier, he said the United States was seeking to stab Turkey "in the back" by sending the lira into a tailspin.

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

In an article for the New York Times, published last Friday, the Turkish leader said Turkey "had rushed to America's help whenever necessary" in various times, from the Cold War to the more recent conflicts in Afghanistan, Iraq and Syria.

Recommended:

  • "New Jack City" Movie Producer's Pregnant Daughter Found Dead In The Bronx

    Police suspect a drugs overdose and she was found with a plastic bag of cocaine , according to the New York Daily News . From June 2008 to August 2011, she reportedly worked as a fundraising intern for Barack Obama's presidential campaign.
    Stokes' England teammate next in crosshairs in affray case

    Stokes' England teammate next in crosshairs in affray case

    England cricketer Ben Stokes walks out of Bristol Crown Court during a lunch break where he is on trial accused of affray . Jonny Bairstow says he is "delighted" that England team-mate Ben Stokes has been found not guilty of affray .
    Chelsea's David Luiz has big future at club Maurizio Sarri

    Chelsea's David Luiz has big future at club Maurizio Sarri

    Asked why Hazard did not start the fixture, Sarri said , "I think that Eden in this moment can not play for 90 minutes". And then [after that] it will be hard , especially with the national teams. "Hopefully two months and not three".
  • Orean leaders to hold third summit in Pyongyang

    Orean leaders to hold third summit in Pyongyang

    Seoul has been preparing for possible economic collaboration with Pyongyang that could go ahead when sanctions are lifted. The talks started at 10 a.m.in Tongilgak in the border village of Panmunjom, according to the joint press corps report.
    As rupee sinks to historic low, Modi govt blames 'external factors'

    As rupee sinks to historic low, Modi govt blames 'external factors'

    The cause of this fall has been attributed to fears over a rise in global protectionist measures, along with a strong USA economy. Sensex gained 207.10 points to close at 37,852 while NSE's Nifty closed at 11,435.10, up by 79.35 points.
    Saudi Arabia eyes enlarged stake in Musk’s private Tesla

    Saudi Arabia eyes enlarged stake in Musk’s private Tesla

    He added that most capital for the deal would come from equity and it would not be "wise" to burden the company with added debt. The lawsuits also claim Musk hasn't lined up the financing necessary to take Tesla private and therefore made false statements.
  • Former Indian prime minister Vajpayee passes away at 93

    Former Indian prime minister Vajpayee passes away at 93

    He was a lifelong poet who revered nature but who oversaw India's growth into a swaggering regional economic power. Kidney tract infection, chest congestion and urine output being on the lower side are the medical complaints.
    Manchester United lack quality to challenge for title - Scholes

    Manchester United lack quality to challenge for title - Scholes

    Shaw has claimed that Pogba "does not need a break", and is hopeful of "sharing some good memories" with the 25-year-old this season.
    Koepka joins golf greats with US PGA win

    Koepka joins golf greats with US PGA win

    Open, Tiger-mania was at a fever pitch. "The roars were pretty unbelievable", second-ranked 2017 PGA victor Justin Thomas said. I didn't really start that way this year. "You're going to have to make some birdies".
  • A Night Of Firsts For Democrats, Trump Gets A Win

    A Night Of Firsts For Democrats, Trump Gets A Win

    Gubernatorial candidates Lupe Valdez of Texas, Kate Brown of OR and Jared Polis of Colorado, all Democrats, are out as LGBTQ. Tim Pawlenty lost his party's nomination for the office he previously held for two terms.
    Best meteor shower of the year peaks this weekend

    Best meteor shower of the year peaks this weekend

    The Perseid meteors are actually pieces of debris from Comet Swift-Tuttle, the largest object known to repeatedly pass by Earth. Perseids are our favorites, as it produces about 100 meteors per hour, a phenomenon called high zenithal hourly rate (ZHR).
    Fans offer thoughts, prayers from around the world for Aretha Franklin

    Fans offer thoughts, prayers from around the world for Aretha Franklin

    In 2010, rumors of her having pancreatic cancer spread like wildfire on the internet, though the singer adamantly denied them. Franklin was performing as recently as a year ago but she canceled a series of concerts citing "doctors orders".


Popular

President Trump Revokes Security Clearance of Former CIA Director John Brennan
Brennan directly, concluding unequivocally that agency officials had indeed improperly accessed congressional staffers' files". And the campaign's former deputy chairman, Rick Gates , has pleaded guilty to financial fraud and lying to investigators.

Fortnite Android beta invites: all supported phones and devices
Until recently, the " Fortnite Android" beta was exclusive to Samsung Galaxy devices, but this exclusivity deal has already ended. We will continue to provide updates on weapon skins in Fortnite: Battle Royale if Epic Games announces any new information.

Kochi airport suspends operations until August 18, red alert in multiple districts
Many Indian expats from Kerala, who had planned their holidays during Eid and Onam, will be left stranded due to the situation. Idukki district is completely cut off from the mainland with roads along the hill range washed away or damaged in landslides.

Air quality alert for Puget Sound region due to wildfire smoke
With air now rated as unhealthy , even healthy people may have symptoms such as dry eyes, coughing and sinus irritation. The Puget Sound Clean Air Agency issued an Air Quality Alert on Monday that includes all of Snohomish County.

Twitter temporarily restricts conspiracy theorist Alex Jones' account
But the catch is that Jones' ban will last just seven days-the InfoWars host will not be able to tweet or retweet from his personal account during that week.

Sanders 'Can't Guarantee' There's No Recording of Trump Using N-Word
She said she acknowledged the tapes of Trump existed just to get on with her day. "And the transcripts prove it", she said. Despite his love for his daughter, Trump "wasn't always such a fan of Jared [Kushner]", Manigault Newman wrote.

Reaction to priest sex abuse report in Pennsylvania: 'I have lost faith'
The civil statute of limitations in Pennsylvania now gives child sex abuse victims 12 years to sue after they turn 18. Pennsylvania is believed to have conducted more investigations of institutional child sex abuse than any other state.

US ambassador urges UK to back Trump on Iran nuke deal
On May 8, the US President Donald Trump unlawfully pulled out of Iran nuclear deal and re-imposed sanctions on the country. In an article for The Sunday Telegraph Mr Johnson told British companies to stop doing business with Iran...

Trump campaign advisers respond to new Omarosa recording
Mueller's team contacted the Trump legal team anytime they had a request to speak with an administration member. Trump said in an August 13 tweet that Manigault Newman indeed signed such an agreement. "It's a dead end'".

President Trump calls Omarosa a ‘dog’ in angry early-morning tweet
When asked if he felt betrayed by Omarosa by a New York Times reporter on Saturday, Trump called his former aide a " lowlife ". Manigault Newman also said on MSNBC she "absolutely" has more recordings, but hasn't decided whether she'll release them.