Turkey appoints former deputy PM Elvan as finance minister

Reuters

9 November 2020 at 11:22 pm·1-min read

ANKARA (Reuters) - Turkey appointed former deputy prime minister Lutfi Elvan as its treasury and finance minister to replace President Tayyip Erdogan's son-in-law Berat Albayrak, the country's Official Gazette said on Tuesday.

Albayrak said in a surprise statement on Sunday that he was resigning for health reasons, a day after Erdogan appointed former finance minister Naci Agbal as the central bank chief.

The lira surged 6% against the dollar on Monday after the weekend upheaval on analysts' expectations for an interest rate hike that could ease pressure on the currency.

The currency, which had tumbled 30% this year to a series of record lows, weakened 1.6% on Tuesday to 8.1800 from a close of 8.0520 on Monday.

Elvan, from Erdogan's ruling AK Party, was development minister between 2016 and 2018 and before that served as a deputy prime minister.

On Monday, newly-installed governor Naci Agbal said the central bank would "decisively" use all policy tools to achieve its main goal of price stability.

Turkish inflation has held near 12% all year, well above a target of around 5%.

(Reporting by Ece Toksabay; Writing by Daren Butler; Editing by Leslie Adler and Kim Coghill)

The Telegraph
Listen: Biden says he is ‘first black woman to serve with a black president’
Joe Biden has said he is “proud” to be the first “black woman to serve with a black president” in one of a series of verbal gaffes as the USA celebrated Independence Day.
The Telegraph
The world must prepare for President Michelle Obama
The 2024 US Presidential race intensifies. Speculation abounds over potential replacements for President Joe Biden amid increasing pressure from his party and the media to step aside after a jaw-dropping, catastrophic debate against Donald Trump last week. Among the names circulating, a game-changer is emerging: Michelle Obama. Could this be America’s worst nightmare?
The Daily Beast
Conservatives Routed in Worst Election Result for 200 Years
LONDON—The Conservatives, the world’s winningest political party, were booted out of power in dramatic style on Thursday after 14 years of chaotic and divisive rule.The Labour Party had secured a landslide victory, ending an era of Conservative rule over Britain that stretches back to 2010; the year that the iPad and Instagram were launched and Lady Gaga wore that meat dress to the MTV music awards.In that time, the Conservatives have cycled through five leaders, each of them dragging the party
NextShark
16-year-old Chinese boy beat with iron rod on New Zealand bus
On Friday morning, during the Maori New Year public holiday, a 16-year-old teen named Jason was brutally attacked on an Auckland bus by a woman wielding an iron rod. The assailant, described as a Maori woman “more than 200 kilograms," hit Jason multiple times and stabbed him in the face, knocking out five of his teeth, on board the bus after having allegedly shouted "ch*nk" at him at Johns Lane stop. Man intervenes: A 75-year-old Chinese man, Penglai Qiuyue, intervened and managed to grab the weapon, though he was also injured in the process.
The Telegraph
Biden ‘seriously considering’ leaving election race
Joe Biden has for the first time said that he is considering ending his presidential campaign, according to reports.
Cinema Online
Joyce Chen confirms she has become a mother
The TVB actress shares photos of her and her daughter, not revealing partner's identity
The Telegraph
Beijing is laughing at the West’s weakness
Russian aggression in Ukraine poses a threat to world peace and stability. China provides material support for Russia’s actions. All this is entirely clear. In Beijing, immediately after a meeting with Xi Jinping in April this year, US Secretary of State Antony Blinken said that “Russia would struggle to sustain its assault on Ukraine without China’s support”. This included selling huge quantities of machine tools and micro-electronics that would be used in the Russian defence industry.
Cosmo
Jade Thirlwall frees the nipple in a see-through chainmail top
Jade Thirlwall appears on the cover of beat magazine wearing a see-through chainmail top to free the nipple. See the image shared on social media, here.
The Independent
A couple rented an Airbnb from a ‘friendly’ landlord. Then they wound up dismembered in a suitcase
Michael Lee Dudley seemed like a typical Washington homeowner – until three teenagers stumbled across a suitcase of horrors on a beach
Hello!
Rod Stewart, 79, rocked by divorce news: report
In a surprising turn of events Rod Stewart has received some shocking divorce news. See details.
Bloomberg
These flight routes suffer the world’s worst turbulence
A series of incidents that left scores of airline passengers needing medical attention has shone a spotlight on the problem of severe in-flight turbulence.
CNN
9 out of 10 voters say there are important differences between Biden and Trump. Here’s what they see as the biggest ones
If there’s one thing that American voters overwhelmingly agree on, it’s that this year’s presidential election presents a stark choice. In the latest CNN poll by SSRS, 91% of registered voters say they see important differences between President Joe Biden and former President Donald Trump, dwarfing even the 77% of voters who said last fall that there were significant divides between the Democratic and Republican parties. Even among the so-called “double haters” – those with unfavorable views of
INSIDER
How Obama mentored the new UK prime minister to help him tell his story
The leader of the Labour Party, Keir Starmer, has been mentored by Barack Obama. The relationship is likely to continue if Starmer wins the UK election.
BuzzFeed
"It Was The Worst Betrayal I Have Ever Experienced": People Are Revealing The Shocking Reason Why They Don't Speak To Their Sibling Anymore
"Once it became clear he was committed to those ugly morals, I told him never to contact me."
Evening Standard
All change: When will Rishi Sunak have to move out of Number 10 — and where could he live next?
With the removal vans on standby, the current prime minister has a portfolio of high-end properties to choose from
The Smart Investor
4 Reliable Singapore Dividend Stocks That I Never Intend to Sell
There are good reasons not to let go of a great dividend-paying stock. Here are four of them I plan to hold for the rest of my life. The post 4 Reliable Singapore Dividend Stocks That I Never Intend to Sell appeared first on The Smart Investor.
Evening Standard
Manchester United: Erik ten Hag makes bold title race vow as new contract confirmed
The Dutchman has been rewarded for back-to-back season winning silverware with a one-year extension
Hello!
Amanda Holden almost bears all in glamorous shower video from lavish bathroom
BGT's Amanda Holden looked sensational when she almost bore all in a candid shower video. See video.
The Telegraph
Zelensky U-turns as he invites Russia to attend peace summit without giving up land
Volodymyr Zelensky has invited Russia to the next peace summit despite previously saying it could only join if it relinquished land in Ukraine.
The Independent
Liz Truss loses seat as ex-prime minister becomes biggest scalp in Tory bloodbath
Truss’ defeat comes after disastrous stint as prime minister that crashed the economy and soured party’s chances of returning to power

Latest stories