ISTANBUL: Turkey's lira nose-dived 15% on Tuesday in its second-worst day ever after President Tayyip Erdogan defended recent sharp rate cuts, and vowed to win his "economic war of independence" despite widespread criticism and pleas to reverse course. The lira tumbled to as low as 13.45 to the ...

ISTANBUL: Turkish prosecutors issued detention warrants for 417 people on Tuesday over their alleged involvement in money laundering transactions, local media reported. According to the Hurriyet daily, police launched simultaneous operations in 40 provinces across the country to capture the ...

ISLAMABAD - The Turkish lira tumbled on Wednesday to its lowest value against the US dollar in two weeks, despite Ankara s attempts to reassure investors after Moody s downgraded its credit ratings on 20 Turkish financial institutions. The currency had already been hit by concerns over monetary ...

LAHORE: Pakistani Rupee is likely to be affected with a steep fall in the value of Turkish lira in the last two weeks. Economic experts believe that it’s after effects may impact the Pakistani economy in the shape of a possible currency devaluation. “Pakistan’s current account deficit is ...

ANKARA - Turkey's lira has bled value against the dollar, leaving the country under President Recep Tayyip Erdogan facing its most serious economic challenge since a financial crisis in 2001. The crash on Turkey's "Black Friday" of August 10 -- when the lira fell by some 16 percent -- was ...

HONG KONG: Asian markets tumbled and the Turkish lira dived almost eight percent Monday on fears that the economic crisis gripping Turkey could spill over into the global economy. With investors already on edge over the China-US trade war, the lira’s collapse sparked a sell-off in Europe and ...