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Qatar pledged $15 billion (Dh55.09 billion) of investment in Turkey that will be channeled into Turkish financial markets and banks, a government source told Reuters yesterday. The investment package was announced after Qatar’s Emir Tamim Bin Hamad Al Thani met President Tayyip Erdogan in Ankara, as Turkey grapples with a collapse in the lira and tensions with Natoally the United States. The currency has lost nearly 40 percent against the dollar this year, driven by worries over Erdogan’s growing influence on the economy and his repeated calls for lower interest rates despite high inflation.
Following the announcement, the lira firmed briefly to 5.8699 from 6.04 to the dollar, but later eased back to 6.0200. The Turkish lira had rebounded some 6 percent on Wednesday after the central bank squeezed lira liquidity in the market, effectively pushing up rates and supporting the currency.
Sultan Bin Saeed Al Mansouri, Minister of Economy, and Amelia Lacravi, Head of the UAE-France Parliamentary Friendship Group at the French National Assembly, reviewed aspects of cooperation between t
The Gulf Today
Sultan Butti Bin Mejren, Director General of Dubai Land Department (DLD), inaugurated the Dubai Property Show - London. The opening ceremony of the third edition was attended by Rawdha Al Otaiba, Dep
The Gulf Today
Saudi Arabia has announced a major housing developement programme under which more than 19,000 residential units will be built in major areas of the kingdom for beneficiaries of its Sakani scheme.
Bahrain International Airshow ended on a successful note with record breaking participation - 187 countries attended the fifth edition - and also signing of deals worth $5 billion during the three-da
Significant fiscal and external buffers have enabled Qatar to successfully absorb the adverse shocks from the 2014-16 decline in oil prices and the diplomatic rift. The country’s near- to medium-term