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U.S. tariffs to stay on Turkey, Qatar offers Ankara aid

U.S. tariffs to stay on Turkey, Qatar offers Ankara aid

The fate of Andrew Brunson, charged with terror offenses by a Turkish court, also overshadows the predicament of a Turkish-American scientist from NASA and several Turkish workers for the USA diplomatic mission who were arrested in Turkey. Lawmakers in Washington passed a bill effectively delaying the shipping of F-35 fighter jets to Turkey.

The US pastor, who has already spent almost two years behind bars in Turkey, has denied the charges, calling them "shameful and disgusting". "The Europeans will maintain the existing objections to certain Erdogan policies and continue to voice their concerns, but that won't stop them from developing pragmatic cooperation with Turkey", he said. "They have not acted as a friend".

Erdogan wrote in an op-ed last week for The New York Times: "The Turkish people expected the United States to unequivocally condemn the attack and express solidarity with Turkey's elected leadership".

The lira firmed as far as 5.75 against the U.S. dollar on Wednesday and stood at 5.90 at 2058 GMT. "Would the amount of Turkey's debts decrease?"

The U.S. recently slapped financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey over the pastor's continued detention, causing economic upheaval in Turkey.

A banking watchdog's step to limit foreign exchange swap transactions also helped the currency. On Friday, it further broadened those caps. Upholding a lower court's decision earlier this week, it also ruled against lifting a travel ban imposed on Brunson.

Turkey and its firms face repayments of almost US$3.8 billion (S$5.2 billion) on foreign currency bonds in October, Societe General has calculated.

The Turkish president emphasized Turkey's determination to eliminate all threats from Syria and Iraq.

Barcelona refuse to rule out signing Paul Pogba from Manchester United
The Red Devils haven't won the Premier League title since 2013 when Ferguson's men beat Manchester City to the top-flight crown. I don't think there is a book called "How to be a Leader". "If you're not happy, you can not give your best", Pogba said.

After each downgrading Turkey by one notch, S&P said it expected a recession next year while Moody's said a weakening of Turkey's public institutions had made policymaking less predictable.

Companies that for years have borrowed overseas at low interest rates have seen their cost of servicing foreign debt rise by a quarter in lira terms in two months.

The US comments came after finance minister Berat Albayrak, Mr Erdogan's son-in-law, assured investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signalling it could ride out the dispute.

Turkey's finance chief tried to reassure thousands of worldwide investors on a conference call on Thursday, in which he pledged to fix the economic troubles.

Erdogan has remained defiant, urging Turks to sell their gold and dollars for lira.

Turkish markets will be closed from midday on Monday for the rest of the week for the Muslim Eid al-Adha festival.

The move by Turkey's Gulf ally offered further support to a lira rally after the Turkish central bank tightened liquidity and curbed selling of the currency.

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