United States prepared to add sanctions on Turkey if pastor not released

NASA Launches Mission to ‘Touch the Sun

NASA Launches Mission to ‘Touch the Sun

Brunson, an Evangelical pastor residing in the coastal province of Izmir, is standing trial in Turkey over terrorism charges.

Turkey's lira, meanwhile, dropped nearly 3 percent to almost 6 per dollar again, having recovered ground rapidly in recent days.

U.S. Treasury Secretary Steven Mnuchin told Trump in cabinet on Thursday that more sanctions were ready if Brunson were not freed.

But according to Middle East Eye, Turkish diplomats said they could release Brunson anyway, subject to further concessions from the U.S. which could soothe diplomatic tensions and helping alleviate the diplomatic and economic crisis.

"They have not proven to be a good friend", Trump said of Turkey during the Cabinet meeting.

Mr Trump described him as "our wonderful Christian Pastor, who I must now ask to represent our Country as a great patriot hostage".

In an intensifying cycle of tensions with the United States, Erdogan has called for a boycott of USA electronic goods such as iPhones and Ankara has sharply hiked tariffs on some U.S. products.

Turkey is the sixth-largest steel exporter to the United States.

Mr Albayrak, President Recep Tayyip Erdogan's son-in-law, said the country's banks were healthy and strong and the nation would not be turning to the International Monetary Fund for a bailout.

In U.S. markets, the Dow Jones Industrial Average .DJI rose 396.32 points, or 1.58 percent, to 25,558.73, the S&P 500 .SPX gained 22.32 points, or 0.79 percent, to 2,840.69 and the Nasdaq Composite .IXIC added 32.41 points, or 0.42 percent, to 7,806.52.

"There was considerable risk aversion through the early part of the week with fears of Turkish contagion weighing on risk assets and that seems to have reversed somewhat here", said Karl Schamotta, a strategist at Cambridge Global Payments in Toronto.

Qatar's royal court released a statement saying Al-Thani "issued directives that will see the State of Qatar to provide a host of economic projects, investments, and deposits" worth $15 billion to support the Turkish economy.

Underscoring the ties between the countries, Sheikh Tamim was the first foreign leader to phone President Erdogan during the failed coup in Turkey in 2016.

Erdogan, hinting at a trade for Brunson, said in a speech previous year that if the USA turned over Gülen to the Turkish authorities "we will do what we can in the judiciary to give you this one". Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Other emerging market currencies, such as Brazil's real and Mexico's peso, also rose.

However, analysts are calling for a sharp hike in interest rates - which Erdogan adamantly opposes because it will put a brake on economic growth.

Trump later tweeted that the U.S. "will pay nothing" for the release "but we are cutting back on Turkey!".

Recommended News

  • Unai Emery hails Guendouzi’s

    Unai Emery hails Guendouzi’s "personality" after Premier League debut

    Speaking to reporters (via BBC Sport ), Emery said that there is more to come from the young midfielder. Arsenal has been handed a major boost after Nacho Monreal and Danny Welbeck returned to full training.

    Kevin De Bruyne suffers knee injury in training

    A club statement said the full extent of the injury is not yet known but the Belgium worldwide was undergoing tests. City do, however, have David Silva, Bernardo Silva and Gundogan who can offset his loss in midfield.
    Sergio Ramos directs broadside at Liverpool boss Jürgen Klopp

    Sergio Ramos directs broadside at Liverpool boss Jürgen Klopp

    The Reds are still aiming to win their first trophy under Jurgen Klopp . Whether Klopp yet again chooses to respond remains to be seen.
  • Aretha Franklin dead: Queen of Soul passes away at age 76

    Aretha Franklin dead: Queen of Soul passes away at age 76

    While he didn't have a chance to talk with Franklin, he did get to practice with her the afternoon before the show, he said. Her dad pastored the church up until his death . "You are a legend and your soul will never be forgotten".
    Pogba feels like United leader regardless of captaincy

    Pogba feels like United leader regardless of captaincy

    All seemed rosy then, until a certain Paul Pogba re-ignited the murmurs around Old Trafford once more. Brazil global Fred made his debut for Manchester United in Friday night's win over Leicester City.
    Tesla board forms a committee to weigh Musk’s proposal of going private

    Tesla board forms a committee to weigh Musk’s proposal of going private

    Earlier in the day, he said Saudi Arabia first approached him with interest in taking Tesla private early past year . Musk's tweets announcing his intentions to take the company private have prompted a backlash from some investors .
  • Pilot crashes plane into own home 'after fight'

    Pilot crashes plane into own home 'after fight'

    Photos taken Monday show the two story home badly damaged by the impact of the plane and subsequent fire that ignited. It wasn't immediately clear who employed Youd, but according to his Facebook page, he worked as a MedEvac pilot.
    How to Install Fortnite on Android Phones

    How to Install Fortnite on Android Phones

    As you can see, the Heavy Sniper Rifle is a beast of a weapon, as it is able to blast structures of different kinds away easily . You'll either have to download the game through Samsung's Game Launcher or from Epic's website .
    Asia shares dip as Turkey's lira tanks

    Asia shares dip as Turkey's lira tanks

    But the analyst house said the impact would be relatively limited because of the limited size of the Turkish economy. At one point, the lira hit an all-time low of more than 7.2 against the USA dollar.
  • Queen of Soul Aretha Franklin dies at 76

    Queen of Soul Aretha Franklin dies at 76

    She eventually racked up more than 110 entries in Billboard magazine's charts, the most by any woman in the magazine's history. Aretha Franklin , the long-reigning Queen of Soul , died on Thursday morning at age 76 from advanced pancreatic cancer.
    Real Madrid Vs. Atletico Madrid Live Stream

    Real Madrid Vs. Atletico Madrid Live Stream

    It is the seventh UEFA Super Cup match between two clubs from same country, and the fifth all-Spanish affair. Atletico Madrid UEFA Super Cup matchup live stream online from A.
    Investors sue Tesla's Musk over go-private tweets

    Investors sue Tesla's Musk over go-private tweets

    He said he had to buy around 3,000 Tesla shares on Wednesday, the day after Musk's tweets, to limit his losses. The action was filed in the Northern District of California and is captioned Kalman Isaacs v.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.