United States urges solution to pastor case in Turkey

New Plan to Rescue Turkey's Deteriorating Economy

Britain’s FTSE dips as Turkey’s lira crisis shakes world markets

Relations between North Atlantic Treaty Organisation allies Turkey and the United States are at a low point, hurt by a series of issues from diverging interests in Syria, Ankara's plan to buy Russian defense systems and the detention of an American pastor, Andrew Brunson.

"We have Vestel." It was unclear how Erdogan meant to enforce the boycott.

He said: "If they have the iPhone, there is Samsung elsewhere".

The Bank of Korea also said that the South Korean economy is strong enough to prevent external risks from spreading to the local market.

Erdogan has been repeatedly photographed with Apple products including the iPhone and iPad. He also said on Friday that he had ordered to double United States tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

Turkish Airlines also announced on Twitter that it would join a campaign circulating on social media with a hashtag #ABDyeReklamVerme (don´t give ads to America).

"We as Turkish Airlines are taking our place alongside our state and people", senior vice president for media relations Yahya Ustun tweeted.

Turkey's lira currency has been falling steadily for the past year because of a clearly stated view by Mr. Erdogan that interest rates are "evil", and because he has been controlling Turkey's central bank consistent with that belief.

Policy makers need to adopt a series of measures "so that the situation doesn't make permanent damage to the real economy", the Union of Chambers and Commodities Exchanges of Turkey and the Turkish Industry and business Association said in a joint statement. "What do you want to do?"

It's unclear what the USA trying to achieve by targeting an ally with whom it worked together in places including Somalia, Afghanistan and Kosovo.

Erdogan admitted the Turkish economy had problems - including a widening current account deficit and inflation of nearly 16 percent but added: "Thanks to God, our economy is functioning like clockwork".

That helped ease tensions in financial markets, with the Turkish lira stabilizing somewhat near record lows.

The lira has lost about a fifth of its value against the greenback since Friday.

"Significantly more than just official promises of action are needed to exit the current crisis", said Andy Birch, principal economist at IHS Markit, calling for "a sharp central bank rate rise".

The state-run Anadolu Agency said the finance chief would address hundreds of foreign investors on Thursday.

The U.S. government believes that Brunson - a Turkish-American NASA scientist accused of links to U.S-based Muslim cleric whom Turkey blames for a failed coup in 2016 - and three Turkish employees of U.S. diplomatic missions accused of terror-related charges are being held unjustly.

The visit came after Brunson's Turkish lawyer launched a fresh appeal to a Turkish court for his release.

Businessmen holding US dollars stand in front of a currency exchange office in response to the call of Turkish President Tayyip Erdogan on Turks to sell their dollar and euro savings to support the lira, in Ankara, Turkey August 14, 2018.

USA national security adviser John Bolton on Monday met Turkey's ambassador to the United States to discuss Brunson's detention.

The Turkish envoy conveyed the message the pressure and threats would only lead to a "chaos" in relations which could only improve after Washington abandons the language of "threats", Cavusoglu said.

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