Aug
15
Qatar Comes to Rescue as Turkey Moves to Avert Financial Crisis
By-
Gulf state’s emir pledges $15 billion of investments
- Lira rallies as regulator curbs ability to bet against it
President Recep Tayyip Erdogan has found a benefactor to help pull Turkey from the brink of a financial crisis as Qatar promised to invest $15 billion in the country.
The lira extended gains to 6 percent after Qatar’s Emir Sheikh Tamim Bin Hamad Bin Al Thani made the pledge after a 3-1/2-hour meeting with Erdogan in Ankara on Wednesday. It follows a string of urgent steps Erdogan has taken to protect its economy from an escalating feud with U.S. counterpart Donald Trump over an American pastor held in Turkey…
Qatar Comes to Rescue as Turkey Moves to Avert Financial Crisis
