Qatar on 15 August pledged $15bn in direct investments into its ally Turkey’s beleaguered banks and financial markets, throwing a lifeline to Turkish President Recep Tayyip Erdogan who says his country is under “economic attack.”

The Turkish Lira sank to a record low of $1= 7.2TL on 13 August after US President Donald Trump, citing Turkey’s unfair trade advantage due to its weak currency, tweeted the US would slap 50% steel and 20% aluminum tariffs on Turkish exports, adding that “Our relations with Turkey are not good at this time!” But the move was attributed to Turkey’s detention of American pastor Andrew Brunson. Ankara responded with tariffs of its own on cars, cigarettes and alcohol. (CONTINUED - 382 WORDS)