Turkey, France to act against USA sanctions

US dollar banknotes are seen in this

US dollar banknotes are seen in this

One of Turkey's high criminal courts has rejected USA pastor Andrew Brunson's request to be released from house arrest and permitted to travel overseas, according to Turkey's state-run Anadolou news agency.

According to the Middle East Eye, officials in Ankara are willing to concede to United States demands for the freedom of Andrew Brunson, an evangelical preacher accused of playing a role in the attempted coup there in 2016.

Ibrahim Kalin, a spokesperson for Turkish president Recep Tayyip Erdogan, said France and Germany are standing with Turkey in the rift with the US.

Global stocks also suffered this week as the sell-off spilled into developed markets, adding to the angst over U.S. Upholding a lower court's decision earlier this week, it also ruled against lifting a travel ban imposed on Brunson.

Whatever action the United States does take, economists said it looked likely to cause more pain for Turkish assets in the immediate future.

I have just authorised a doubling of Tariffs on Steel and Aluminium with respect to Turkey as their currency, the Turkish Lira, slides rapidly downwards against our very strong Dollar!

"They should have given back a long time ago", Trump said. Concerns that Italy's governing parties will agree a budget with high public spending have also weighed on the single currency.

Imran Khan becomes Pakistan's prime minister
Former Khyber Pakhtunkhwa chief secretary Arbab Shahzad was also invited as a special guest, reports said. Rival candidate, Shehbaz Sharif, of Pakistan Muslim League-Nawaz (PMLN), garnered 96 votes.

Albayrak, a 40-year-old former company executive with a doctorate in finance, said Turkey would not hesitate to provide support to the banking sector.

Standard & Poor's is scheduled to release a review of Turkey's sovereign credit rating later on Friday. Moody's stripped Turkey of its investment-grade rating in 2016 and Friday's move lowered it one rung further.

An American pastor imprisoned in Turkey will not be allowed to go free. "Would the amount of Turkey's debts decrease?" A senior USA official told CNN that in exchange for Turkey's release of Brunson, Israel agreed to release Ebru Ozkan, a 27-year-old Turkish woman held in Israel on suspicion of aiding Hamas, the Palestinian militant group that controls Gaza.

Mr. Trump wrote in a tweet late Thursday: "We will pay nothing for the release of an innocent man, but we are cutting back on Turkey!"

Washington and Ankara have been at loggerheads over the release of pastor Brunson who is held in Turkey. He criticized Turkey for "holding our wonderful Christian Pastor". If found guilty, he faces up to 35 years in prison. He has denied the charges, and his case has been taken up by U.S. President Donald Trump, who counts evangelical Christians among his core supporters.

LONDON, Aug 17 (Reuters) - World stocks rose on Friday as news of plans for U.S.

The Turkish currency fell again on Friday, breaking a three-day quiet spell in the country currency crisis, after the United States threatened to impose new sanctions on the North Atlantic Treaty Organisation country.

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