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Turkey's lira falls 3 percent, Trump won't take pastor's detention 'sitting down'

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ISTANBUL Turkey's battered lira weakened 3 percent on Friday after a Turkish court rejected an American pastor's appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention "sitting down". | Video

Moody's downgrades Turkey to Ba3, assigns negative outlook

ISTANBUL Moody's cut Turkey's sovereign credit rating deeper into "junk" territory on Friday, citing a weakening of public institutions and the related reduction in the predictability of policy making in a country which is facing a currency crisis.

World, Aug 17 2018

China offers Turkey moral support, says can overcome difficulties

BEIJING China offered moral support to Turkey on Friday as Ankara reeled from a currency crisis and U.S. sanctions, saying it believed the country could overcome its "temporary" economic difficulties, in Beijing's first comment on the issue.

China, World Aug 17 2018

Currency shocks knock platinum to 10-year lows

LONDON Platinum prices tumbled to 10-year lows as the collapse of Turkey's lira rippled through markets and weakened the currency of top producer South Africa, underlining persistent oversupply of the autocatalyst metal.

Africa Aug 17 2018

Investors flee risk as bear markets multiply: BAML

LONDON Investors pulled billions from equities this week, shifting into bonds and high dividend-yielding sectors as Turkey's currency crisis sparked a global selloff and emerging markets entered bear territory, an analysis of fund flows showed on Friday.

Wealth, Aug 17 2018

U.S. says more sanctions await if Turkey does not free pastor

WASHINGTON The United States warned Turkey on Thursday to expect more economic sanctions unless it hands over detained American pastor Andrew Brunson, as relations between the two countries took a further turn for the worse.

World, Aug 16 2018

Stocks, emerging market currencies rise on planned U.S.-China trade talks

NEW YORK U.S. stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States this month and Turkey's lira continued its recovery.

Aug 16 2018

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

ISTANBUL/WASHINGTON The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. | Video

World, Aug 16 2018

Thursday Morning Briefing

Qatar offers Turkey aid to support a rise in the lira, Trump revokes the security clearance of Obama-era CIA Director John Brennan and scientists seek new ways to combat Florida's growing 'red tide.'

Turkey must commit to policies to promote stability amid market volatility: IMF

WASHINGTON Turkey should commit to sound economic policies to promote stability and reduce imbalances at a time of market volatility, an IMF spokesperson said on Wednesday as a row between Washington and Ankara over the jailing of an American pastor dragged on.

World, IMF, Aug 16 2018
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Iran says navy mounts new defense system on warship

DUBAI Iran's navy has mounted a locally built advanced defensive weapons system on one of its warships for the first time, the Iranian navy chief was quoted as saying on Saturday, as tensions mount with the U.S. military in the Gulf.