The Turkish lira weakened further on Wednesday owing to uncertainty about any progress regarding the rift between Turkey and the United States.
The lira was trading at 6.3 to the dollar at 5.37am GMT, compared with Tuesday's close of 6.2625. The currency has lost about 40 per cent of its value against the dollar this year because of a sell-off accelerated by a row with Washington over an American evangelical Christian pastor detained in Turkey on terrorism charges.
The lira began to weaken rapidly amid concerns over Turkish President Tayyip Erdogan’s influence on monetary policy, but was driven to record lows over the dispute between the US and Ankara, with Washington slapping tariffs on some Turkish imports.
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Read more:
Risk of escalating emerging market pressure looms
Donald Trump: US won't concede anything for Turkey to release pastor
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Turkey’s central bank said on Wednesday it was doubling banks’ borrowing limits for overnight transactions from levels which applied before August 13, when it said it would provide all liquidity the banks needed.
"In the light of recent evaluations, the CBRT has decided that, to be effective from August 29, 2018, the banks' borrowing limits for overnight transactions at the Interbank Money Market established within the CBRT would be twice the limits applicable before August 13," it said.
This month, US President Donald Trump authorised a doubling of duties on aluminium and steel imported from Turkey, triggering retaliatory measures from Ankara.
Investors are also worried by a US Treasury investigation into state-owned Turkish lender Halkbank, which could face a potentially hefty fine over allegations of busting sanctions on Iran. The bank has said all its transactions were legal.
Turkey and the US are also at odds over their diverging interests in Syria and US objections to Ankara's plan to buy Russian defence systems.
The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
Princeton
BEACH SOCCER WORLD CUP
Group A
Paraguay
Japan
Switzerland
USA
Group B
Uruguay
Mexico
Italy
Tahiti
Group C
Belarus
UAE
Senegal
Russia
Group D
Brazil
Oman
Portugal
Nigeria
'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
The Gandhi Murder
- 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
- 34 - Nationalities featured in the film The Gandhi Murder
- 7 - million dollars, the film's budget
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
MATCH INFO
Chelsea 0
Liverpool 2 (Mane 50', 54')
Red card: Andreas Christensen (Chelsea)
Man of the match: Sadio Mane (Liverpool)
CRICKET WORLD CUP LEAGUE 2
Mannofield, Aberdeen
All matches start at 2pm UAE time and will be broadcast on icc.tv
UAE fixtures
Wednesday, Aug 10 – Scotland v UAE
Thursday, Aug 11 - UAE v United States
Saturday, Aug 14 – Scotland v UAE
Monday, Aug 15 – UAE v United States
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, Vriitya Aravind, CP Rizwan, Basil Hameed, Rohan Mustafa, Zawar Farid, Kashif Daud, Karthik Meiyappan, Zahoor Khan, Junaid Siddique, Sabir Ali, Alishan Sharafu
Table (top three teams advance directly to the 2023 World Cup Qualifier)
1. Oman 36 21 13 1 1 44
2. Scotland 24 16 6 0 2 34
3. UAE 22 12 8 1 1 26
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4. Namibia 18 9 9 0 0 18
5. United States 24 11 12 1 0 23
6. Nepal 20 8 11 1 0 17
7. Papua New Guinea 20 1 19 0 0 2
PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland
What is Dungeons & Dragons?
Dungeons & Dragons began as an interactive game which would be set up on a table in 1974. One player takes on the role of dungeon master, who directs the game, while the other players each portray a character, determining its species, occupation and moral and ethical outlook. They can choose the character’s abilities, such as strength, constitution, dexterity, intelligence, wisdom and charisma. In layman’s terms, the winner is the one who amasses the highest score.
if you go
Getting there
Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.
Staying there
On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.
More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
