Turkish police arrest another German citizen – reports

Turkish police have arrested another German citizen, Reuters reported Thursday, citing a German Foreign Ministry source. “We’re aware of the case. The embassy in Ankara will initiate consular assistance,” the source said. Public broadcaster ARD also said the man had been accused of “terrorist propaganda” after criticizing the Turkish government on social media. The arrest […]

India’s rupee hits an all-time low as the Turkish lira crisis spills over to other currencies

Thomson Reuters The Indian rupee briefly fell to an all-time low of 70.1 per US dollar in Tuesday trade. Indonesia’s currency also fell to a multi-year low as government ministers discussed strategies to prop up the currency. JP Morgan’s emerging markets foreign exchange index is on track for its biggest monthly fall in six years. […]

Fallout from the Turkish lira’s meltdown is starting to spread to markets around the world

Matt Dunham – WPA Pool/Getty Images Global markets are under pressure following the plunge in the Turkish lira late last week. The lira’s fall continued in Asian trade on Monday — it plunged as much as 10% when markets opened. The weakness is starting to spread to other emerging market currencies, with the South African […]

Turkish lira plummets to all-time low as US sanctions begin to bite

Investors are dumping Turkey’s national currency, the lira, after Washington imposed sanctions relating to the trial of an American pastor accused of backing terrorism. The lira hit an all-time low of 5.11 versus the dollar on Friday after the US sanctioned two of President Recep Tayyip Erdogan’s ministers who played a key role in detaining […]

The US slapped sanctions on 2 top Turkish officials over their role in detaining an evangelical pastor

Evan Vucci/AP The US imposed sanctions on two top Turkish officials on Wednesday in a long-standing dispute over Turkey’s detention of the American pastor, Andrew Brunson.  The White House said President Donald Trump personally ordered the sanctions.  Brunson was arrested in 2016 and has been accused of orchestrating a failed military coup attempt against Turkish President […]

Erdogan committed to Russian energy projects after Turkish election victory

Russian President Vladimir Putin congratulated his Turkish counterpart Recep Tayyip Erdogan on his re-election. They discussed energy projects between the nations and Erdogan has confirmed Ankara’s commitment to the initiatives. Read more “The presidents confirmed their mutual interest in expanding partnership between the two countries and noted as priorities joint strategic energy projects, including the […]

Turkish Air Force jets target Kurdish PKK gathering in Iraqi mountains

Turkish Air Force jets have struck a meeting of Kurdistan Workers Party (PKK) members, including high-ranking officials, close to the Iraq-Iran border, President Recep Tayyip Erdogan told Kanal 7 television. “With the latest operations, we struck a very important meeting point of theirs. We haven’t received the results yet, but it is certain that they […]

The Turkish lira is plunging after an emergency rate hike

Thomson Reuters The Turkish lira continued selling off Thursday. It had dropped to all-time lows Wednesday, prompting the central bank to raise interest rates ahead of its June meeting. Follow the lira in real time here. The Turkish lira continued sinking Thursday as investors blew off an emergency interest rate hike.  The lira was down […]

Turkish MPs approve extension of state of emergency for 3 months

The Turkish parliament approved on Wednesday the extension for another three months of the state of emergency, Reuters reported. It was declared after a failed military coup in July 2016. The move means Turkey will hold early June 24 parliamentary and presidential elections, announced by President Recep Tayyip Erdogan earlier on Wednesday, under the state […]

Kosovo launches probe into extradition & arrest of 6 Turkish nationals

Kosovo has launched an investigation into the arrest and extradition of Turkish nationals, Prime Minister Ramush Haradinaj said. The six people were arrested at Turkey’s request on Thursday for alleged links to schools financed by the Gulen movement, which Ankara blames for a failed coup in 2016. “Today we have decided to start an investigation […]