Turkey

Turkey's currency takes 17% dive to fresh all-time low after Trump tweets new tariff rate

4 monthes ago   |   By

Evan Vucci/AP
The Turkish lira fell as much as 17% versus the dollar Friday.
Trump said he would double the steel and aluminum tariff rate for Turkey.
Washington recently imposed sanctions on Ankara over detained Americans.
President Recep Tayyip Erdogan called on citizens to convert other currencies and gold into lira.
Watch the lira trade in real time here.
Turkey's currency plunged to fresh all-time lows against the dollar Friday after President Donald Trump announced in a tweet that he would double tariffs on aluminum to 20% and on steel to 50%.
"I have just authorized a doubling of...
Read more ...

 

Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work

Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work

4 monthes ago   |   By

The Turkish lira collapsed by over 35% in value versus the US dollar this year - a dramatic and sudden fall.
Yet the Turkish economy is growing strongly.
The trigger for the crisis may be investors' realisation that President Recep Tayyip Erdogan doesn't understand, or doesn't believe in, the role central banks play in setting interest rates that control inflation.
Erdogan has called interest rates "evil" in the past, and it's an attitude that may be spooking markets.
LONDON - Turkey's economy went from being rocky-but-fixable into a full-blown currency crisis today as the Turkish lira...
Read more ...

 


Search by Tags

   Turkey      Places      Washington      Place      Business      Currency      Diving      Turkish Lira      Trump      Erdogan      Currencies      Donld Trump      Dollar      Tariffs      Steel      Aluminum      Senior      London      Fall      Italy      Recep Tayyip Erdoğan  


Experience the magical ambience of the fall season by visiting the best...

Autumn is one of the fascinating seasons for a holiday in Italy. This beautiful season comes with a round of fresh wine, delightful delicacies, and vibrant colors that will... Read more ...

Experience the magical ambiance of the fall season by visiting the best...

Autumn is one of the fascinating seasons for a holiday in Italy. This beautiful season comes with a round of fresh wine, delightful delicacies, and vibrant colors that will... Read more ...

Experience the magical ambiance of the fall season by visiting the best...

Autumn is one of the fascinating seasons for a holiday in Italy. This beautiful season comes with a round of fresh wine, delightful delicacies, and vibrant colors that will... Read more ...

Cosworth Says It Made a 250 HP Naturally-Aspirated Three Cylinder and It's...

Cosworth Says It Made a 250 HP Naturally-Aspirated Three Cylinder and It's Emissions Compliant

Legendary engine builder Cosworth's job was to design the Aston Martin Valkyrie 's 1,000 horsepower V12, which had to be naturally-aspirated and emissions compliant. But... Read more ...

Ryanair To Fly Over 10m Customers For Christmas

Ryanair To Fly Over 10m Customers For Christmas

Ryanair, Europe's No. 1 airline, today revealed it will carry over 10 million customers this Christmas breaking last year's record Christmas traffic by 5%. Saturday, 22 nd... Read more ...

Lufthansa Group Airlines welcome around 10.6 million passengers on board in...

Lufthansa Group Airlines welcome around 10.6 million passengers on board in November 2018

In November 2018, the airlines of the Lufthansa Group welcomed around 10.6 million passengers. Despite a strong basis for comparison from the previous year, this corresponds to... Read more ...

Sabre's Movement Manager Technology Increases China Airlines' Network...

Sabre's Movement Manager Technology Increases China Airlines' Network Efficiency and Productivity

Sabre Corporation, the leading technology provider to the global travel industry, today announced that Taiwan's flag carrier, China Airlines, has successfully implemented its... Read more ...

Thoughts on responsible rhino tourism and conservation

Thoughts on responsible rhino tourism and conservation

There is nothing as exhilarating as seeing a rhino in its natural habitat, especially if you have been trying to find it for some time. These encounters help people to better... Read more ...

Turkey plans ‘faith tourism' to attract 50 m tourists

Turkey plans ‘faith tourism' to attract 50 m tourists

Starting next year Turkey's Culture and Tourism Ministry will begin promoting faith tourism, aiming to boost the number of tourists visiting the country from 45 million to 50... Read more ...

Northern California Chapter Weighs New Venue Options During December Meeting

Northern California Chapter Weighs New Venue Options During December Meeting

Speaker Paul Lavoie and Director Margo Bart at the December 2018 Northern California meeting Fifty members and guests attended the December 2018 Northern California Chapter... Read more ...

Dubai International Airport welcomes 2.1 per cent more passengers in October...

Dubai International Airport welcomes 2.1 per cent more passengers in October last year

Last year, Dubai International Airport welcomed 2.1 per cent more passengers in October than the same month the year before, according to figures released on Monday. The... Read more ...

SWISS carries more passengers in November

SWISS carries more passengers in November

Swiss International Air Lines 1 transported 1,284,640 passengers in November 2018, a 4.7% increase on the same month last year. The airline operated 11,227 flights in the... Read more ...

New advisory report mentions stronger focus on tourism to churn out 180,000...

New advisory report mentions stronger focus on tourism to churn out 180,000 new jobs

A prime focus on tourism has the possibility to add billions to the Canadian economy and develop 180,000 new jobs, as per a new advisory report prepared for the federal... Read more ...