Economy

Turkey plans boycott on United States electronics

Turkey plans boycott on United States electronics The move comes after the USA imposed sanctions on two Turkish ministers over the continued detention of an American pastor on terror-related charges, and President Donald Trump compounded the country's economic crisis by doubling steel and aluminium tariffs to 50% and 20%, respectively. [Full Article...]

Stocks close lower amid Turkish currency crisis

Stocks close lower amid Turkish currency crisis Brunson's lawyer, Ismail Cem Halavurt, said the court had up to seven days to decide. The fallout has been sparked by a number of issues - including Turkey's detention of American pastor Andrew Brunson - while Ankara has demanded the extradition of a Turkish cleric who is blamed by Mr Erdogan for masterminding the failed 2016 coup against him. [Full Article...]

Turkey's Erdogan pledges boycott on U.S. electronics

Turkey's Erdogan pledges boycott on U.S. electronics Declaring economic war against the US, Erdogan said Turkey , a North Atlantic Treaty Organisation ally, will no longer purchase Apple products or other electronic devices made by American companies. That draws capital away from Turkey , weakening the currency. On the recent tension between Turkey and the US, Cavusoglu said, "Recently, our relations with the US have unfortunately come to a ... [Full Article...]

Tesla directors: 'No formal proposal' to take company private

Tesla directors: 'No formal proposal' to take company private Mr Musk's tweet earlier this month had said " funding secured ", raising questions about where the financing for any deal might come from. It also has hired an independent legal counsel and will engage a financial adviser. He said that since his Twitter posts on the possibility of a deal the managing director of the Saudi fund had expressed support for proceeding subject to financial and other due... [Full Article...]

London jumps five places in Global Liveability Ranking

London jumps five places in Global Liveability Ranking Vienna , the capital of Austria, has replaced Melbourne as the world's most liveable city . "It is now separated from the former top-ranked city by a mere 0.7 of a percentage point". Australia and Canada dominated the top ten, each boasting three cities. The survey does not include several of the world's most risky capitals, such as Baghdad and Kabul. [Full Article...]

Turkey to boycott U.S. electronic products, Erdoğan says

Turkey to boycott U.S. electronic products, Erdoğan says He said: 'You act on one side as a strategic partner, but on the other you fire bullets into the foot of your strategic partner. We are together in North Atlantic Treaty Organisation and then you seek to stab your strategic partner in the back'. [Full Article...]

Turkey's lira crisis: 'economic war' sees Erdoğan look east for new allies

The Turkish lira has nosedived over the past week amid concerns over President Recep Tayyip Erdogan's ability to deal with the turmoil and a diplomatic spat with the United States. On Monday, benchmark stock indexes in Tokyo, Hong Kong and Shanghai were all down more than 1.5% in late morning trading. The pan-European FTSEurofirst 300 index lost 0.31 per cent. [Full Article...]

Largest fire in California's history continues to spread north

Largest fire in California's history continues to spread north The fire retardant used is a specially developed chemical spray that can be used to slow or stop the spread of the fire, or even reduce its intensity by reducing how flammable the fuels in the area (such as wood) or temporarily delaying its combustion, hindering the progress of the spreading walls of flame. [Full Article...]

Rupee hits lifetime low of 70 per dollar

Rupee hits lifetime low of 70 per dollar The unit is down about a fifth against the greenback since Friday. Rupee hits a fresh lifetime low as EM currencies slide . As for Monday's fall, market analyst also attribute it to the potential market contagion caused by turmoil in the Turkish lira , which has been in free fall for the last few days. [Full Article...]

Turkey launches probe into ‘fake news’ over lira rumors

Turkey launches probe into ‘fake news’ over lira rumors Calling the Turkish foreign policy as "multi-directional" and "multi-dimensional", Cavusoglu said the country's embassies play active roles in "enhancing economic, commercial and cultural relations, especially in the defense industry". Mr Albayrak said the country would "act in a speedy manner" and its plan included help for the banks and small and medium-sized businesses most affected by the dr... [Full Article...]

Fall of Turkish Lira sets off jitters across world markets

Fall of Turkish Lira sets off jitters across world markets Several emerging market currencies have already taken hits, including the South African rand, Russian ruble, and Mexican peso. As the two North Atlantic Treaty Organisation allies squared off, national security adviser John Bolton met at the White House on Monday with Turkish Ambassador Serdar Kilic at the latter's request. [Full Article...]

Family, friends recall man who crashed stolen plane as hard-working, kind

Family, friends recall man who crashed stolen plane as hard-working, kind The flight lasted 90 minutes and the crash site is on Ketron Island, a sparsely populated area in Puget Sound. Video footage online showed the Q400 apparently conducing rolls and flying low over water before crashing on Ketron Island in Pierce County about an hour after taking off. [Full Article...]

Saudi Arabia looks to invest big in Tesla

Saudi Arabia looks to invest big in Tesla Saudi Arabia's sovereign wealth fund is in talks that could see it becoming a significant investor in Tesla as part of Elon Musk's plan to take the electric auto maker private, according to people with knowledge of the fund's plans. The PIF and Tesla didn't respond to requests for comment. It wasn't immediately clear how much the fund would invest in Tesla . Among the reasons, they said, is... [Full Article...]

Former Tesla Engineering Chief Doug Field Returns to Apple

Former Tesla Engineering Chief Doug Field Returns to Apple Field was a VP of Mac hardware engineering at Apple before leaving for Telsa in 2013. A month later, Tesla founder Elon Musk installed a makeshift assembly line tent outside the Tesla plant in a last ditch attempt to produce 5,000 Model 3 cars every week before the second quarter deadline. [Full Article...]

Turkey pledges lira action to calm markets

Turkey pledges lira action to calm markets The Turkish lira retraced some losses after touching a new record low in Asia's Monday trade following a recent geopolitics-triggered free fall in the currency. Sydney fell 0.4 percent, Singapore was 0.8 percent lower and Seoul shed 1.5 percent. Mr Kenningham noted Turkey's annual gross domestic product of around US$900 billion was just 1 per cent of the global economy and slightly smaller t... [Full Article...]

Chances rise of 'no deal' Brexit that would hit sterling - Reuters poll

Chances rise of 'no deal' Brexit that would hit sterling - Reuters poll Mrs May wants to clarify her plans before an European Union leaders' summit in June and to seal a deal on Britain's new relationship with the European Union in October, less than six months before Brexit. While there appeared to be no notable trigger to yesterday's pound sell-off, analysts suggest it is likely a result of growing anxiety that time is running for the United Kingdom to avoid a "no... [Full Article...]

Turkey to launch action plan to avert financial collapse

In a tweet, he said he was imposing duties of 20 per cent on Turkish aluminium and 50 per cent on steel. Since then, its relationship with Turkey, the sixth largest steel importer to the U.S., the world's biggest steel importer overall, has deteriorated, prompting Ankara to send a delegation this week to Washington to meet with both the State and Treasury Departments. [Full Article...]

Mexico NAFTA talks drag on as autos sticking points emerge

Mexico NAFTA talks drag on as autos sticking points emerge Francisco Cervantes spoke with Xinhua before departing for Washington to take part in the ongoing trade negotiations between Mexico , Canada and the United States. A USTR spokeswoman declined to comment on the content of the discussions. "Today more than ever, we see an important window of opportunity, a very significant possibility that (pending issues) will be resolved", said Cervantes, who... [Full Article...]

Canada adds 54,000 jobs in July

Canada adds 54,000 jobs in July Prince Albert has added about 200 jobs since a year ago, but the city's seasonally unadjusted unemployment rate has jumped by 0.8 percentage points, the latest labour market estimates from Statistics Canada show. Average hourly wage growth, which is closely monitored by the Bank of Canada, continued its gradual slide last month to 3.2 percent after expanding 3.6 percent in June and 3.9 percent in ... [Full Article...]

Stolen Horizon Air plane crashes in Puget Sound island

Stolen Horizon Air plane crashes in Puget Sound island Read out by family friend Mike Mathews, the statement said: "He was a faithful husband, loving son and a good friend". It is unclear how he attained the skills to do loops in the aircraft before crashing about an hour after taking off, authorities said. [Full Article...]


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