Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f


Economic and political developments in Turkey have had investors worried for more than a year now. One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession. “So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be f
Turkish central bank needs to be ‘fully independent,’ IMF’s Europe director says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


Turkish central bank needs to be 'fully independent,' IMF's Europe director says

Economic and political developments in Turkey have had investors worried for more than a year now.

One of the country’s most immediate needs if it wants to get its house in order is to ensure total independence of its central bank, according to the man who led the bailouts of Greece, Portugal, Iceland and Ukraine during the Great Recession.

“Turkey faces a number of challenges, and one of them is that the central bank needs to be fully independent so it can continuously assess and tighten policies as circumstances change in a forward-looking manner,” Poul Thomsen, director of the International Monetary Fund’s Europe department, told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C. over the weekend.

“So we welcome the increase we’ve seen in interest rates in the last six to seven months, but it’s important that the Turkish central bank be allowed to be fully independent in its assessment of monetary policy in addition to a number of other challenges on fiscal policy, and more transparency.”

Turkey’s economy is already in recession, rocked last year after fears over government interference into central bank independence, over-leveraged banks, a large current account deficit and a diplomatic spat with the U.S. triggered investor and capital flight. The lira lost 36 percent of its value against the dollar by the end of 2018.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: natasha turak, chris mcgrath, getty images
Keywords: news, cnbc, companies, fully, director, central, bank, europe, number, turkish, needs, independence, challenges, monetary, imfs, independent, policy


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This airport will cost $12 billion to make — take a look inside

This airport will cost $12 billion to make — take a look inside14 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. The massive growth of Turkish Airlines is one of the major reasons for Istanbul New Airport, which officially opened in October of 2018.


This airport will cost $12 billion to make — take a look inside14 Hours AgoTo view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. The massive growth of Turkish Airlines is one of the major reasons for Istanbul New Airport, which officially opened in October of 2018.
This airport will cost $12 billion to make — take a look inside Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08
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This airport will cost $12 billion to make — take a look inside

This airport will cost $12 billion to make — take a look inside

14 Hours Ago

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

The massive growth of Turkish Airlines is one of the major reasons for Istanbul New Airport, which officially opened in October of 2018.


Company: cnbc, Activity: cnbc, Date: 2019-04-08
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US halts F-35 equipment to Turkey in protest of its missile purchase from Russia

The United States has halted delivery of equipment related to the stealthy F-35 fighter aircraft to Turkey, marking the first concrete U.S. step to block delivery of the jet to the NATO ally in light of Ankara’s planned purchase of a Russian missile defense system. U.S. officials told their Turkish counterparts they will not receive further shipments of F-35 related equipment needed to prepare for the arrival of the stealthy jet, two sources familiar with the situation told Reuters on Monday. Th


The United States has halted delivery of equipment related to the stealthy F-35 fighter aircraft to Turkey, marking the first concrete U.S. step to block delivery of the jet to the NATO ally in light of Ankara’s planned purchase of a Russian missile defense system. U.S. officials told their Turkish counterparts they will not receive further shipments of F-35 related equipment needed to prepare for the arrival of the stealthy jet, two sources familiar with the situation told Reuters on Monday. Th
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Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: atilgan ozdil, anadolu agency, getty images
Keywords: news, cnbc, companies, protest, equipment, purchase, united, told, turkey, related, missile, turkish, delivery, defense, halts, states, russia, f35


US halts F-35 equipment to Turkey in protest of its missile purchase from Russia

The United States has halted delivery of equipment related to the stealthy F-35 fighter aircraft to Turkey, marking the first concrete U.S. step to block delivery of the jet to the NATO ally in light of Ankara’s planned purchase of a Russian missile defense system.

U.S. officials told their Turkish counterparts they will not receive further shipments of F-35 related equipment needed to prepare for the arrival of the stealthy jet, two sources familiar with the situation told Reuters on Monday.

The Pentagon confirmed the Reuters report that the equipment delivery had been stopped.

“Pending an unequivocal Turkish decision to forgo delivery of the S-400, deliveries and activities associated with the stand-up of Turkey’s F-35 operational capability have been suspended,” Air Force Lieutenant Colonel Mike Andrews, a Defense Department spokesman, said in a statement.

Turkish President Tayyip Erdogan has refused to back down from Ankara’s planned purchase of a Russian S-400 missile defense system that the United States has said would compromise the security of F-35 aircraft.

The disagreement over the F-35 is the latest of a series of diplomatic disputes between the United States and Turkey including Turkish demands that the United States extradite Islamic cleric Fethullah Gulen, differences over Middle East policy and the war in Syria, and sanctions on Iran.

The sources, who spoke on condition of anonymity, told Reuters the next shipment of training equipment, and all subsequent shipments of F-35 related material, had been canceled. The aircraft is built by Lockheed Martin Corp.

A Pentagon official had told Reuters in March that the United States had a number of items it could withhold in order to send Turkey a signal that the United States was serious about Ankara dropping its ambition to own the S-400.

Turkish officials in Ankara were not immediately available for comment. Turkey has said it will take delivery of the S-400s in July.


Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: atilgan ozdil, anadolu agency, getty images
Keywords: news, cnbc, companies, protest, equipment, purchase, united, told, turkey, related, missile, turkish, delivery, defense, halts, states, russia, f35


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Turkey’s lira is swooning again — just in time for nationwide elections

“If the AKP loses to an opposition party challenger, it will be a symbolic indication that the ruling party is struggling to maintain its appeal with the urban elite.” Results for President Recep Tayyip Erdogan’s ruling Justice and Development Party (AKP) could determine the fate of monetary policy and the stability of markets in Turkey and beyond. The lira dropped as much as 5 percent against the dollar Thursday on news that the Turkish Central Bank had burned through nearly a third of its fore


“If the AKP loses to an opposition party challenger, it will be a symbolic indication that the ruling party is struggling to maintain its appeal with the urban elite.” Results for President Recep Tayyip Erdogan’s ruling Justice and Development Party (AKP) could determine the fate of monetary policy and the stability of markets in Turkey and beyond. The lira dropped as much as 5 percent against the dollar Thursday on news that the Turkish Central Bank had burned through nearly a third of its fore
Turkey’s lira is swooning again — just in time for nationwide elections Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: natasha turak, metin aktas, anadolu agency, getty images, -emily hawthorne, middle east, north africa analyst
Keywords: news, cnbc, companies, nationwide, lira, week, turkish, swooning, ruling, akp, urban, party, weeks, elections, votethis, tried, turkeys


Turkey's lira is swooning again — just in time for nationwide elections

“If the AKP loses to an opposition party challenger, it will be a symbolic indication that the ruling party is struggling to maintain its appeal with the urban elite.”

Results for President Recep Tayyip Erdogan’s ruling Justice and Development Party (AKP) could determine the fate of monetary policy and the stability of markets in Turkey and beyond.

The lira dropped as much as 5 percent against the dollar Thursday on news that the Turkish Central Bank had burned through nearly a third of its foreign reserves in the first three weeks of March as it tried to prop up the currency and stifle short-sellers ahead of the vote.

This week, Turkey’s overnight swap rate skyrocketed to 1,200 percent as it tried to keep the lira from falling.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: natasha turak, metin aktas, anadolu agency, getty images, -emily hawthorne, middle east, north africa analyst
Keywords: news, cnbc, companies, nationwide, lira, week, turkish, swooning, ruling, akp, urban, party, weeks, elections, votethis, tried, turkeys


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Turkish stocks dive and key interest rate hits 1,200%

Turkish stocks plummeted on Wednesday as the country’s struggles to defend its currency ahead of a key election on Sunday sent a key interest rate to an all-time high. This sent the overnight Turkish swap rate to 1,200 percent, by far the highest ever, according to Reuters. Support for Erdogan’s party, the AK Party, has deteriorated this year as Turkey struggles curb its economic downfall. The unemployment rate in Turkey also skyrocketed to 13.5 percent in December from 9.7 percent in April. Tur


Turkish stocks plummeted on Wednesday as the country’s struggles to defend its currency ahead of a key election on Sunday sent a key interest rate to an all-time high. This sent the overnight Turkish swap rate to 1,200 percent, by far the highest ever, according to Reuters. Support for Erdogan’s party, the AK Party, has deteriorated this year as Turkey struggles curb its economic downfall. The unemployment rate in Turkey also skyrocketed to 13.5 percent in December from 9.7 percent in April. Tur
Turkish stocks dive and key interest rate hits 1,200% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: fred imbert, ahmet bolat, anadolu agency, getty images
Keywords: news, cnbc, companies, hits, dive, turkey, struggles, rate, sent, key, lira, turkeys, party, 1200, interest, swap, stocks, turkish, risk


Turkish stocks dive and key interest rate hits 1,200%

Turkish stocks plummeted on Wednesday as the country’s struggles to defend its currency ahead of a key election on Sunday sent a key interest rate to an all-time high.

Turkey’s benchmark stock index, the ISE National 100 index, dropped 5.2 percent and was on track for its worst day since July 18, when it fell 7.1 percent. The iShares MSCI Turkey ETF (TUR), which tracks Turkish equities in the U.S., fell 7.7 percent.

The slide in Turkey’s equity market came as the government directed the country’s banks to withhold lira liquidity from the offshore swap market in an attempt to keep the lira from falling sharply. This sent the overnight Turkish swap rate to 1,200 percent, by far the highest ever, according to Reuters.

Turkey’s move effectively kept foreign investors from betting against Turkish assets ahead of local elections that are largely seen as a referendum on President Recep Tayyip Erdogan. As of 12:19 p.m. in New York, the lira traded 1.8 percent lower against the dollar at 5.42.

Support for Erdogan’s party, the AK Party, has deteriorated this year as Turkey struggles curb its economic downfall. Turkey’s economy contracted by 3 percent in the fourth quarter of last year after three straight quarters of declining growth. The unemployment rate in Turkey also skyrocketed to 13.5 percent in December from 9.7 percent in April.

This has all contributed to the lira plummeting more than 36 percent against the dollar in the past year. Turkey tried to defend its currency through rate hikes, bringing its overnight lending rate to 24 percent from 8 percent in 2018.

“We do think the economy will begin to recover over the coming months. Inflation is falling, which should ease the squeeze on consumers,” William Jackson, chief emerging markets economist at Capital Economics, wrote in a note. However, “local assets remain particularly vulnerable to bouts of risk aversion. There are two main reasons for this. One is concerns about the direction of policymaking. The other is that Turkey still has a large external financing requirement – it requires large capital inflows to roll over maturing external debts.”

“We expect risk aversion to rise over this year as a result of weak global growth,” Jackson said.

—CNBC’s Michael Bloom and Reuters contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: fred imbert, ahmet bolat, anadolu agency, getty images
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White House says US will keep 200 troops in Syria

The Trump administration, which abruptly announced in December that it was pulling out of Syria, said Thursday that it will keep 200 U.S. troops in the country for now. “A small peace keeping group of about 200 will remain in Syria for period of time,” White House press secretary Sarah Sanders said in a one-sentence statement. Sen. Lindsey Graham, R-S.C., who had harshly criticized Trump’s decision to pull U.S. forces out of Syria, applauded the president’s decision to leave a few hundred as par


The Trump administration, which abruptly announced in December that it was pulling out of Syria, said Thursday that it will keep 200 U.S. troops in the country for now. “A small peace keeping group of about 200 will remain in Syria for period of time,” White House press secretary Sarah Sanders said in a one-sentence statement. Sen. Lindsey Graham, R-S.C., who had harshly criticized Trump’s decision to pull U.S. forces out of Syria, applauded the president’s decision to leave a few hundred as par
White House says US will keep 200 troops in Syria Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: delil souleiman, afp, getty images
Keywords: news, cnbc, companies, 200, troops, house, pull, turkey, graham, white, forces, secretary, turkish, syria, small, decision


White House says US will keep 200 troops in Syria

The Trump administration, which abruptly announced in December that it was pulling out of Syria, said Thursday that it will keep 200 U.S. troops in the country for now.

“A small peace keeping group of about 200 will remain in Syria for period of time,” White House press secretary Sarah Sanders said in a one-sentence statement.

Sen. Lindsey Graham, R-S.C., who had harshly criticized Trump’s decision to pull U.S. forces out of Syria, applauded the president’s decision to leave a few hundred as part of an “international stabilizing force.”

Graham said it will ensure that Turkey will not get into a conflict with Syrian Democratic Forces, which helped the United States fight Islamic State militants. Turkey views Kurdish members of the SDF as terrorists.

Moreover, Graham said leaving a small force in Syria will serve as a check on Iranian ambitions and help ensure that IS fighters do not try to return.

“A safe zone in Syria made up of international forces is the best way to achieve our national security objectives of continuing to contain Iran, ensuring the enduring defeat of ISIS, protecting our Turkish allies, and securing the Turkish border with Syria,” Graham said.

Trump’s decision to pull 2,000 U.S. troops from Syria, which he initially said would be rapid but later slowed down, shocked U.S. allies and angered the Kurds in Syria, who are vulnerable to attack by Turkey. It also prompted the resignation of Defense Secretary Jim Mattis and drew criticism in Congress. Sen. Jack Reed, a Rhode Island Democrat, called the decision a “betrayal of our Kurdish partners.”


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: delil souleiman, afp, getty images
Keywords: news, cnbc, companies, 200, troops, house, pull, turkey, graham, white, forces, secretary, turkish, syria, small, decision


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Turkey will attack Kurdish fighters in Syria regardless of US withdrawal, foreign minister says

Turkey will go ahead with its planned offensive against Kurdish militias in northeastern Syria whether or not the U.S. withdraws its troops from the country, its foreign minister said Thursday. The warning comes after American officials attempted to condition a U.S. troop pullout on a guarantee of safety for its Kurdish partners and Turkish non-aggression — something Turkish President Recep Erdogan promptly smacked down on Tuesday. Now Ankara, which has amassed thousands of Turkish troops along


Turkey will go ahead with its planned offensive against Kurdish militias in northeastern Syria whether or not the U.S. withdraws its troops from the country, its foreign minister said Thursday. The warning comes after American officials attempted to condition a U.S. troop pullout on a guarantee of safety for its Kurdish partners and Turkish non-aggression — something Turkish President Recep Erdogan promptly smacked down on Tuesday. Now Ankara, which has amassed thousands of Turkish troops along
Turkey will attack Kurdish fighters in Syria regardless of US withdrawal, foreign minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: natasha turak, anadolu agency, getty images, dursun aydemir
Keywords: news, cnbc, companies, attack, troops, turkish, kurdish, fighters, withdrawal, kurds, ypg, president, state, minister, syria, local, foreign, security, turkey, regardless


Turkey will attack Kurdish fighters in Syria regardless of US withdrawal, foreign minister says

Turkey will go ahead with its planned offensive against Kurdish militias in northeastern Syria whether or not the U.S. withdraws its troops from the country, its foreign minister said Thursday.

“If the (withdrawal) is put off with ridiculous excuses like Turks are massacring Kurds, which do not reflect the reality, we will implement this decision,” Turkish Foreign Minister Mevlut Cavusoglu told local news station NTV, without elaborating on a timeline.

The warning comes after American officials attempted to condition a U.S. troop pullout on a guarantee of safety for its Kurdish partners and Turkish non-aggression — something Turkish President Recep Erdogan promptly smacked down on Tuesday. Now Ankara, which has amassed thousands of Turkish troops along its border with Syria, says it will act regardless of a U.S. delay.

“We are determined on the field and at the table,” Cavusoglu said. “We will decide on its timing and we will not receive permission from anyone.”

White House national security advisor John Bolton and Secretary of State Mike Pompeo have spent the week in the Middle East trying to reassure allies of America’s commitment in the wake of President Donald Trump’s shock announcement to pull all U.S. troops out of Syria. Security officials and lawmakers have warned this would mean abandoning local partners on the ground and undermining U.S. credibility when it comes to alliances.

The White House and State Department did not respond to requests for comment on Cavusoglu’s statements at the time of publication.

Turkey’s government has long threatened to unilaterally attack the Kurdish People’s Protection Units (YPG), the U.S.-supported militias controlling large swaths of northern Syria that spearheaded the local fight against the Islamic State. Ankara views the YPG as terrorists and a security threat on its southern border, stressing its ties to a separate Kurdish group that’s carried out a decades-long, violent insurgency against the Turkish state.

The two NATO allies continue to lock horns over the issue of the Kurds, which has proved a massive thorn in U.S.-Turkey relations since the Pentagon began arming and training the Kurds to battle IS in Syria in 2015.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: natasha turak, anadolu agency, getty images, dursun aydemir
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Turkey’s Erdogan shuts down White House’s Bolton on Syria, says he made a ‘serious mistake’

Turkey’s President Recep Erdogan issued a blunt put-down against White House national security advisor John Bolton over his pledges to ensure Turkish non-aggression against Kurds who fought against the Islamic State (IS) in Syria. “We cannot accept Bolton’s messages given from Israel,” the Turkish president said on Monday, adding that Bolton made a “serious mistake,” Reuters reported. Erdogan stressed that the YPG and the PYD cannot be representative of Kurds, adding that Bolton “probably doesn’


Turkey’s President Recep Erdogan issued a blunt put-down against White House national security advisor John Bolton over his pledges to ensure Turkish non-aggression against Kurds who fought against the Islamic State (IS) in Syria. “We cannot accept Bolton’s messages given from Israel,” the Turkish president said on Monday, adding that Bolton made a “serious mistake,” Reuters reported. Erdogan stressed that the YPG and the PYD cannot be representative of Kurds, adding that Bolton “probably doesn’
Turkey’s Erdogan shuts down White House’s Bolton on Syria, says he made a ‘serious mistake’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: natasha turak, cem oksuz, anadolu agency, getty images, dursun aydemir
Keywords: news, cnbc, companies, bolton, erdogan, turkish, turkeys, view, kurds, white, mistake, serious, houses, ypg, trump, shuts, militias, syria, president


Turkey's Erdogan shuts down White House's Bolton on Syria, says he made a 'serious mistake'

Turkey’s President Recep Erdogan issued a blunt put-down against White House national security advisor John Bolton over his pledges to ensure Turkish non-aggression against Kurds who fought against the Islamic State (IS) in Syria.

“We cannot accept Bolton’s messages given from Israel,” the Turkish president said on Monday, adding that Bolton made a “serious mistake,” Reuters reported.

He was referring to statements by the senior Trump administration official, made from Israel over the weekend, promising safety for the U.S.-allied Kurdish militias — who dominate areas in Northern Syria and whom the Turks view as terrorists — in the event of a U.S. military withdrawal.

The militias, known as the Kurdish People’s Protection Units (YPG), are the armed wing of the Democratic Union Party (PYD), an offshoot of the designated terrorist group called the Kurdistan Workers Party which has carried out a decades-long insurgency against the Turkish state. They’re also America’s primary partners on the ground in Syria: the Pentagon has been supplying the YPG with weaponry, air support and training to battle IS since 2015, and the militias have suffered thousands of casualties fighting for the U.S.-led coalition.

Erdogan stressed that the YPG and the PYD cannot be representative of Kurds, adding that Bolton “probably doesn’t know” who the two groups are. He also described Turkey as facing a “critical juncture” in Syria, with whom it shares a 500 mile border.

Ankara has for months threatened a military offensive against the Kurds in northeastern Syria, refusing to view their presence as legitimate. That threat has been made all the more real since President Trump’s shock announcement on December 19 to withdraw all U.S. forces from Syria, a move met with torrents of criticism from security experts and lawmakers alike. Trump, defending his decision, emphasized the need for other countries to take on the battle against IS in Syria and espoused Turkey’s subsequent offer to fill America’s shoes. Critics say this will primarily mean Turkish violence against the Kurds.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: natasha turak, cem oksuz, anadolu agency, getty images, dursun aydemir
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Saudi prosecutor will seek death penalties in Khashoggi case

Saudi Arabian prosecutors will seek the death penalty for five of the 11 suspects detained over the murder of journalist Jamal Khashoggi, the Saudi state news agency SPA reported on Thursday, as a Saudi court held a first hearing on the case. Saudi Arabia said it also sent new letters to the Turkish public prosecutor asking for “any evidence connected to this case”, which has rattled the Saudi royal court and damaged the reputation of 33-year-old Crown Prince Mohammed bin Salman. “The initial he


Saudi Arabian prosecutors will seek the death penalty for five of the 11 suspects detained over the murder of journalist Jamal Khashoggi, the Saudi state news agency SPA reported on Thursday, as a Saudi court held a first hearing on the case. Saudi Arabia said it also sent new letters to the Turkish public prosecutor asking for “any evidence connected to this case”, which has rattled the Saudi royal court and damaged the reputation of 33-year-old Crown Prince Mohammed bin Salman. “The initial he
Saudi prosecutor will seek death penalties in Khashoggi case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: kevin lamarque
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Saudi prosecutor will seek death penalties in Khashoggi case

Saudi Arabian prosecutors will seek the death penalty for five of the 11 suspects detained over the murder of journalist Jamal Khashoggi, the Saudi state news agency SPA reported on Thursday, as a Saudi court held a first hearing on the case.

Saudi Arabia said it also sent new letters to the Turkish public prosecutor asking for “any evidence connected to this case”, which has rattled the Saudi royal court and damaged the reputation of 33-year-old Crown Prince Mohammed bin Salman.

Khashoggi was close to the royal circles before becoming a critic of Prince Mohammed and began writing for the Washington Post and speaking to international media about Saudi politics when he moved to the United States last year.

Saudi officials have rejected accusations that the crown prince ordered his murder in the Saudi consulate in Istanbul, in which Khashoggi’s body was dismembered, removed from the building and handed over to an unidentified “local cooperator”.

The whereabouts of Khashoggi’s remains are still unknown, but a Turkish television channel on Monday showed men carrying suitcases purportedly containing the remains into the residence of the Saudi consul general in Istanbul.

“The initial hearing for the 11 individuals indicted by the Public Prosecution in the case of the murder of citizen Jamal Khashoggi was held today … in the Criminal Court of Riyadh,” a statement from the Saudi prosecutor carried by SPA said.

The prosecutor’s office said it was seeking the death penalty for five individuals of the 11 indicted. Ten other suspects were still under investigation.

SPA added that the defendants’ lawyers attended the hearing and the court approved a request from the 11 who asked for more time to prepare their defence. It did not give details on the next hearing.

The statement said the kingdom was still waiting for responses to requests for information sent to Turkish officials.

Last week, Saudi King Salman put Ibrahim al-Assaf, a veteran former finance minister, in charge of foreign affairs, in an effort to improve the kingdom’s image after the crisis caused by the killing.

Assaf replaced Adel al-Jubeir, and experts in Saudi politics said the move reflected a perception that Jubeir was tainted by having served as Riyadh’s chief global defender during the Khashoggi affair.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: kevin lamarque
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Turkey says the US just agreed to more of its demands as Ankara sees expanded power in Syria

Ankara has been waiting for this guarantee for a while, complaining since its agreement in June that Washington was dragging its feet on the deal. Turkey also plans to cross east of the Euphrates River in Northern Syria “as soon as possible,” Turkish Foreign Minister Mevlut Cavusoglu reportedly told local media Tuesday, without elaborating. Manbij is west of the Euphrates, but Kurdish forces control a wide swath of land on the eastern side of the river. With the impending departure of U.S. troop


Ankara has been waiting for this guarantee for a while, complaining since its agreement in June that Washington was dragging its feet on the deal. Turkey also plans to cross east of the Euphrates River in Northern Syria “as soon as possible,” Turkish Foreign Minister Mevlut Cavusoglu reportedly told local media Tuesday, without elaborating. Manbij is west of the Euphrates, but Kurdish forces control a wide swath of land on the eastern side of the river. With the impending departure of U.S. troop
Turkey says the US just agreed to more of its demands as Ankara sees expanded power in Syria Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-25  Authors: natasha turak, kerem kocalar, anadolu agency, getty images
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Turkey says the US just agreed to more of its demands as Ankara sees expanded power in Syria

President Donald Trump’s administration may have just handed Turkey’s President Recep Erdogan another win.

Less than a week after Trump’s abrupt decision to withdraw all U.S. troops from Syria, Turkey’s foreign minister said Tuesday the U.S. has agreed to complete its previously established “roadmap” to remove all Kurdish militia fighters from the Northern Syrian town of Manbij before U.S. forces clear out.

Ankara has been waiting for this guarantee for a while, complaining since its agreement in June that Washington was dragging its feet on the deal. The U.S. has been supporting the Syria-based Kurdish People’s Protection Unit (YPG) as part of the Syrian Democratic Forces fighting the Islamic State (IS), but the Turks view those fighting Kurds as linked to a Kurdish terrorist group that’s carried out a decades-long insurgency against the Turkish state.

Last week, Erdogan threatened to attack Manbij to “cleanse” it of the YPG, whom he called terrorists — a move the Pentagon has called “unacceptable.” The U.S. withdrawal is reportedly expected to begin within weeks.

At the time of this publication, the Pentagon had not yet responded to a CNBC request for comment sent Tuesday.

Turkey also plans to cross east of the Euphrates River in Northern Syria “as soon as possible,” Turkish Foreign Minister Mevlut Cavusoglu reportedly told local media Tuesday, without elaborating. Manbij is west of the Euphrates, but Kurdish forces control a wide swath of land on the eastern side of the river.

With the impending departure of U.S. troops from Syria, Turkey will have vast sway to push out Kurdish forces, who now say the feel they are being abandoned by their American partners. Turkish troops have amassed along the Syrian-Turkish border and Turkish-backed Syrian rebels are grouping around Manbij. The Kurds have reportedly begun digging ditches and trenches in anticipation of the offensive, prompting Turkish Defense Minister Hulusi Akar to say Thursday, “they will be buried in their ditches when the time comes.”


Company: cnbc, Activity: cnbc, Date: 2018-12-25  Authors: natasha turak, kerem kocalar, anadolu agency, getty images
Keywords: news, cnbc, companies, reportedly, forces, ankara, demands, turkish, expanded, minister, agreed, syria, ypg, manbij, kurdish, syrian, turkey, sees, troops, power


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