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Finance

In another high-profile case, a Turkish court ruled on August 15 to release from jail Taner Kilic, the local chair of Amnesty International, a researcher from the rights group said. In another element of the row with Washington, a USA court sentenced a senior executive of state-owned Turkish lender Halkbank to 32 months in prison in May for taking part in a scheme to help Iran evade US sanctions .
  • Court rejects appeal for American pastor's release from detention, Turkish media says

    Court rejects appeal for American pastor's release from detention, Turkish media says

    Finance

    Turkey's national currency, the lira, has tumbled by almost 40% against the U.S. dollar so far this year. Erdogan said Turkey was facing an "economic attack" and a "bigger, deeper operation". The currency's climb followed retaliatory tariffs by Ankara against USA goods including rice, coal and cars. While the decline accelerated last Friday after the Trump administration announced new tariffs on Turkey, the USA denied responsibility for Turkey's economic state.
  • Turkey retaliates against Trump tariffs, hiking fees on U.S

    Turkey retaliates against Trump tariffs, hiking fees on U.S

    Finance

    Turkish lira plunged on concerns over the deepening rift between Washington and Ankara , hitting a record low of 7.24 against USA dollar and weakening some 45 percent so far this year. In a statement released Tuesday, Turkish business groups called on Erdogan to let the Turkish central bank raise interest rates to stop the currency crisis .
  • Oil prices dip as demand outlook dims; Iran sanctions provide some support

    Oil prices dip as demand outlook dims; Iran sanctions provide some support

    Finance

    Very unpredictable and the president is a great reason for that, the campaign against Iran is a great reason for that", he said, calling President Donald Trump a "meddler-in-chief" for his more active role in moving oil prices. The effects of the economic slowdown will take time to manifest, but analysts say investors are already becoming cautious. "But the impact on investment mood is starting to show", Brown said.
  • Turkey's president threatens boycott of iPhones, other United States electronics

    Turkey's president threatens boycott of iPhones, other United States electronics

    Finance

    The first vulnerability to which the International Monetary Fund draws attention is the large amount of Turkey's debt that is US dollar-denominated and that is subject to valuation risk. "We will implement a boycott against America's electronic goods", he said. "If [the US] has the iPhone, there's Samsung on the other side", Mr Erdogan said, referring to Apple and its South Korean competitor.
  • Turkey's Erdogan Vows Action Against 'Economic Terrorists' Over Lira Plunge

    Turkey's Erdogan Vows Action Against 'Economic Terrorists' Over Lira Plunge

    Finance

    Over the last few days, Turkey has seen a significant devaluation of its currency the lira , which has lost more than 45 percent of its value this year. Brunson, 50, is being tried on espionage and terror-related charges, which he and the USA government vehemently deny. Brunson faces up to 35 years in jail if found guilty.
  • Investors sue Tesla's Musk over go-private tweets

    Investors sue Tesla's Musk over go-private tweets

    Finance

    That news helped boost Tesla's stock price. The 3% to 5% Tesla stake that the sovereign fund bought this month could be an indication that they're ready to invest in an EV future. Musk has also said he would be looking to keep his ownership of Tesla at around 20 per cent in a buyout deal, and that a special goal vehicle, like the one that exists at his aerospace company SpaceX, would allow Tesla shareholders to remain invested if they so choose.
  • Weed killer available in Britain blamed for causing cancer

    Weed killer available in Britain blamed for causing cancer

    Finance

    Jurors found on Friday that Monsanto had acted with "malice" and that its weed killers contributed "substantially" to Mr Johnson's terminal illness. The jury ordered the agricultural multi-national to pay $250 million in punitive damages together with other costs that brought the total figure to nearly $290 million.
  • Rupee recovers from life low, up 23 paise

    Rupee recovers from life low, up 23 paise

    Finance

    Traders said, on the condition of anonymity, that rupee recouped some of the losses as state-run banks sold the dollar on behalf of the Reserve Bank of India . The next crucial level for the rupee is 69.80 to the dollar, he added. Meanwhile, Indian benchmark indices gained on Tuesday after retail inflation eased to 4.17% in July from 4.92% in June.
  • A sixth firefighter killed battling California wildfires

    A sixth firefighter killed battling California wildfires

    Finance

    The Holy Fire was 52% contained by Monday, up from 10% on Friday. Per a Cal Fire tweet : "After a father informed his daughter that her fish was likely dead, both were in for quite a shock when they returned home to a well-fed fish!" The third largest is the Ferguson Fire, near Yosemite National Park, incinerating almost 96,000 acres.