Qatar pledges $15 billion to invest in Turkey

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Further sanctions or tariffs could exacerbate the already fragile economic situation in Turkey, and broader emerging markets.

The lira has lost almost 40pc of its value against the dollar this year, sparking a sell-off in emerging market currencies and weighing on global stocks.

Cagaptay, author of The New Sultan: Erdogan and the Crisis of Modern Turkey, said the release of the Greek soldiers was especially notable because Turkey, which has had rocky relations with Athens, would not have unilaterally made the one-sided move unless Erdogan felt it was crucial.

The crash comes amid the ongoing diplomatic row between the United States and Turkey over an American pastor alleged to have been involved in the Middle Eastern country's 2016 attempted coup.

"Qatar and Turkey have a mutual stance on many subjects regarding humanitarian and political issues".

Mr Trump described him as "our wonderful Christian Pastor, who I must now ask to represent our Country as a great patriot hostage".

Yesterday, US president Donald Trump said: 'They should have given him back a long time ago and Turkey has in my opinion acted very, very badly.

The Turkish lira, which had stabilised against the dollar on Thursday, is falling again on Friday.

Turkey's banking watchdog has taken steps to stabilise the currency, limiting futures transactions for offshore investors and lowering limits on swap transactions.

Maduro expresa apoyo a inscripción de candidatura de Lula en la cárcel
Destacó el PT que si el derecho le es negado, solicita la participación de Lula por videoconferencia, o por videos grabados previamente.

'We are not going to take it sitting down.' The row follows US-imposed sanctions on two Turkish ministers and doubled tariffs on its steel and aluminum imports.

"So, we haven't seen the last of that".

South Africa's rand, Russia's rouble, the Indian rupee and Indonesia's rupiah have all taken a hit from the crisis in Turkey.

The problem with the new strategy is that it aims directly towards Apple which remains unaffected as Turkey relies on Apple and not the other way around, according toMashable.

The currency crisis has deepened concerns about weaknesses in the broader economy - particularly Turkey's dependence on energy imports and whether foreign-currency debt levels pose a risk to the banking sector.

The Turkish leader's communications director, Fahrettin Altun, wrote on Twitter, "We are fending off this economic coup attempt with the wisdom of the Turkish nation and the leadership of our president".

United States sanctions and the declining lira created panic in the markets but on the streets, many Turks appeared to support the government's retaliatory measures.

The lira has weakened 35 per cent against the dollar this year as the deterioration in ties between the North Atlantic Treaty Organisation allies fuelled losses driven by concerns over President Tayyip Erdogan's influence over monetary policy.

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