Turkey: The Turkish lira plunged to a record low against the dollar on Friday (August 10) and lost a third of its value since the beginning of this year.
At one stage on Friday afternoon one dollar could buy 6.9 lira, when it was worth 3.7 in January.
The market was worried that Turkey’s economy will slide into a crisis and that might ripple across global markets. Meanwhile, the yield on government bonds reached a new high, and equities in other emerging markets slumped on Friday.
The currency collapse started when the U.S. Treasury Department froze the assets of the Turkish ministers of justice and the interior for the prolonged detention of an American pastor Andrew Brunson.
The pastor was arrested in October 2016 and was accused of abetting a failed coup attempt that year.
U.S. President Donald Trump called Brunson’s detention “a total disgrace” and the U.S. administration responded by doubling tariffs on Turkey’s steel and aluminum imports.
But the currency slump has a bright side for UK holidaymakers as they will now get 697 lira for £100, compared with 460 last year. The British global travel company Thomas Cook has reported an increase of 63 percent in its holiday bookings to Turkey this year.
For more we go to CNBC Television:
U.S.: A spate of shootings burst out all over Chicago, causing 12 deaths and about 70 wounded in one single weekend.
From Friday at 6 p.m. through Sunday at midnight (August 3-5), 66 people were shot, 12 of whom died. The attacks were made on foot, from cars, or met with return fire.
The victims ranged from 11 to 63 years old. One teenage girl was shot in the face, and another teenage boy was killed on his bicycle. Others were shot either at a party or during a funeral.
The police believed that many of the victims were not the intended targets.
No arrests in connection with the shootings had been made by Monday evening (August 6), although 46 people were arrested on firearms charges, and 60 guns were seized.
The shooting spree turned political when U.S. President Donald Trump’s lawyer, Rudy Giuliani, the former mayor of New York City mayor, put the blame on Democratic Mayor Rahm Emanuel and decades of “one-party Democratic rule” in the city.
Giuliani openly backs Emanuel’s rival Garry McCarthy for the next mayoral election in February. McCarthy, a former Chicago police superintendent, was fired by Emanuel in 2015 after video footage showed a white police officer shooting a black teenager 16 times.
For more we go to the Daily Mail:
Venezuela: President Nicolás Maduro survived an explosion on Saturday (August 4).
An object — possibly a flying drone carrying explosives — detonated when Maduro was speaking before a military parade in Caracas to celebrate the 81st anniversary of the National Guard.
Seven National Guard members were injured and the president was largely unharmed. Six people had been detained over the incident.
Calling the explosion an assassination attempt, the 55-year-old president accused, without evidence, right-wing Colombian President Juan Manuel Santos for the plot against him.
The Colombian government rebuked Maduro’s charges as “absurd.”
Meanwhile, a group which identified itself as “Soldiers in T-Shirts” claimed responsibility for the attack, and said the two drones deployed to kill the president were shot down by snipers.
But firefighters at the scene disputed that there had been a drone attack and claimed, instead, that the a gas tank had exploded nearby.
For more we go to CBS News:
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Image (Turkish lira) Courtesy of korkut kazcin / Shutterstock.com