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Cyprus PIO: Turkish Cypriot and Turkish Media Review, 18-08-14Cyprus Press and Information Office: Turkish Cypriot Press Review Directory - Previous Article - Next ArticleFrom: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>Turkish Cypriot and Turkish Media Review-14.08.18 No. 156/18 14.08.18 Contents[A] Turkish Cypriot Press
[B] Turkish Press
[A] Turkish Cypriot Press[01] Yildirim will pay an illegal visit to the occupied area of Cyprus tomorrowIllegal Bayrak (14.08.18 http://www.brtk.net/yildirim-ve-beraberindeki-heyet-yarin-kktcye-geliyor/) broadcast that the Turkish Speaker of the Turkish Assembly Binali Yildirim will illegally visit the breakaway regime tomorrow upon an invitation by the "speaker of the assembly", Teberruken Ulucay.This is the first visit abroad of Yildirim after he started his new duties. Yildirim will arrive around 10.00 in the morning and he will hold meetings with the Turkish Cypriot leader Mustafa Akinci, with Ulucay and with "prime minister" Tufan Erhurman. According to Bayrak, Yildirim will visit the breakaway regime heading a delegation of the Turkish Assembly which will hold contacts with the "TRNC assembly". He is expected to leave the occupied area of Cyprus late in the afternoon. (CS) [02] The "assembly" is extraordinarily convened today ? Measures to overcome the economic crisis are being discussedTurkish Cypriot daily Star Kibris newspaper (14.08.18) reports that the self-styled council of ministers met extraordinarily yesterday to discuss the measures which the occupation regime intends to take for dealing with the consequences from the devaluation of the Turkish lira (TL). No statement was made after the meeting, notes the paper, arguing that this created disappointment in the "people", who were expecting to find out the above-mentioned measures. According to Star Kibirs, the most important decision taken yesterday was to extraordinarily convene the "assembly" today, interrupting the "body's" vacation, which started on 25 June. Ways to overcome the economic crisis are expected to be discussed during the meeting with the contribution of all the political parties which participate in the "assembly".Meanwhile, Turkish Cypriot daily Kibris newspaper (14.08.18) reveals details regarding the 20 economic measures on which the self-styled council of ministers has been working for the past few days. The measures are expected to be announced during the extraordinary meeting of the "assembly" today and according to the results of the discussion and the suggestions of the opposition, some changes could be made. Some of the proposed measures, which are the following: The number of the apartments which foreigners could purchase will be increased to three [from one]. The transfer fees will be increased to 8% for the first apartment, 9% for the second and 10% for the third. The locals will be paying 1% for their first residence and a transfer fee will be added to this amount for their other ones. The rents [of the houses and businesses] will be paid based on a stable exchange rate of the foreign currencies [th e basis will be the values which were valid in February]. The exchange rates will be stabilized for the fees paid in the private schools. The tax imposed on the casinos, the bet offices and the luxury villas will be increased, while the VAT in some products and the restaurants will be decreased to 5%. The local workforce will be supported and the foreign workers who come to the occupied area after acquiring a "work permit" will pay 5% of the minimum wage as a tax in case they bring their children with them. Moreover, illegal Bayrak (14.08.18,
http://www.brtk.net/?englishposts=economic-measures-announced) broadcast
that Erhurman announced the measures during the "assembly's" extraordinary
meeting today.
"The measures [?] include lowering of VAT rates, fixing foreign exchange
rates for rents, switching to multiple electricity tariffs, discounts
in deed transfer fees and providing incentives to local or domestic
production", notes Bayrak adding that Erhurman said that the "government"
will introduce a set of 23 measures within the forthcoming days.
"Amongst the measures include lowering VAT on cleaning goods, certain
food products, restaurant services and white goods", notes the report
adding the following:
"Tax returns will also be provided to consumers using credit and debit
cards with the aim of minimizing tax evasion. Withholding tax applied on
rents in foreign currency will also be reduced from 13% to 1% in exchange
of fixing the currency exchange rate. The electricity authority will also
switch to a multiple tariff system which will allow electricity prices
to be lower at certain times of the day. The price stabilization fund for
alcohol and tobacco products will also be raised in order to close the gap
in the price stabilization fund for fuel in a bid not to raise the price
of petrol. Among the other measures include levying a temporary additional
tax on casinos and bet offices for a period of 6 months. Limitations on
foreigners purchasing homes and property in the TRNC will be preserved,
but the limitation to purchase 1 apartment will temporarily be raised to
3 apartments for a period of 6 months. Incentives will also be introduced
for hotels to meet their needs fro m local and domestic producers".
Under the title "The fire is growing", Turkish Cypriot daily Havadis
newspaper (14.08.18) reports that in spite of the interference of the
Central Bank of Turkey yesterday, the devaluation of the TL did not stop,
as the dollar exceeded 7 TL and the sterling pound the 9 TL, while the
euro reached 8 TL.
(I/Ts.)
He claimed that they will not visit Turkey to take permission for the
measures which they will implement for overcoming the economic crisis,
but to discuss the "economic protocol" for 2019 and the ways of their
"solidarity" because of the devaluation of the Turkish lira. "In any
case we can hold this kind of discussion with Turkey over the phone",
he said adding that with the measures they will introduce their aim is
to reduce the shrinking of the economy and protect the purchase power
of the "people".
Referring to the consequences of the economic crisis, Erhurman pointed
out that they have an additional cost of 124 million TL only in personnel
expenses and a deficit of 540 million TL within the past five months.
(I/Ts.)
He made these statements speaking during a dinner in Trabzon where he
refeed to Cyprus saying the following: "In 1974 despite all the threats
the blackmails and the embargoes they issued against us, they did not
prevent this nation to rescue the Turkish (people) of Cyprus".
(CS)
He made these statements speaking at the 10th Ambassadors' Conference
which is taking place in Ankara.
Cavusoglu also referred to Turkey's relations with Greece claiming that
Turkey is always near Greece in difficult times; "however they only
increase tension in Aegean and in the Mediterranean", he said.
(CS)
Moreover, Ataoglu confirmed the statements made by Firuz Baglikaya,
chairman of Turkey's Travel Agents' Union, who has said that an
increase of 35-40% was observed in the tours to the occupied area of
Cyprus. Ataoglu added that a "serious increase" exists in the number of
the visitors not only from Turkey but from other countries as well.
(I/Ts.)
The meeting focused on American ?astor Andrew Brunson, who is under
house arrest in Turkey for terrorism charges, and bilateral relations,
according to a statement by White House press secretary Sarah Sanders,
"They discussed Turkey's continued detention of ?astor Andrew Brunson
and the state of the U.S.-Turkey relationship," said the statement.
Last week, a Turkish delegation held talks with officials from the
State and Treasury ?epartments. Brunson and relations were also among
the topics discussed.
During an address to Turkish ?mbassadors in the capital, Ankara, Erdogan
said that Turkey would overcome the "attack" on its economy.
He insisted that Turkey's economy remains strong and said the currency
would soon settle "at the most reasonable level."
In an apparent reference to the United States, Erdogan said "the bullies
of the global system cannot roughly, shamelessly encroach on our gains
that were paid for by blood."
Erdogan also dismissed any suggestion that Turkey might intervene in
dollar-denominated bank accounts, saying any seizure or conversion of
those deposits into lira was out of the question.
Referring to his statement on Aug. 12 that he said he has "Plan B or
Plan C," Erdogan added: "They say that Plan C is seizing capital. Did
you read my mind? Are these people fortune-tellers? It is impossible to
understand them."
The Turkish leader's comments came after authorities launched
investigations into hundreds of social media accounts for alleged reports
they claimed were helping the currency's plunge.
Erdogan said there is an "economic terror" being waged on social media,
adding that "traitors" would be punished.
The Treasury Undersecretariat reported that 1.72 billion Turkish liras
($251.5 million) in two-year fixed coupon government bonds (semiannually,
first issue) were sold in an auction.
The government bonds will be settled on Wednesday and mature on Aug. 12,
2020. The total tender amounted to 3.1 billion Turkish liras ($451
million) with a 55.8 % accepted/tendered rate.
The Treasury said the term rate of 728-day government bonds was accepted
at 11.76 %, while annual simple and compound interest rates were 23.51
and 24.89 %, respectively.
In Monday's second auction, the Treasury issued 91-day zero coupon
government bonds (first issue) totaling 1.49 billion Turkish liras
($218.4 million).
The bonds will be settled on Wednesday with a maturity date of Nov. 14,
2018.
According to the undersecretariat, the total tender in the second auction
amounted to 5 billion Turkish liras ($731.1 million), with a 29.9 %
accepted/tendered rate.
The government bonds was accepted at 5.58 %, while annual simple and
compound interest rates were 22.34% and 24.28 %, respectively.
The Treasury will set one more auction to borrow on Tuesday.
In a joint statement, the Turkish Industry and Business People's
Association (TUSIAD) and the Turkish Union of Chambers and Commodity
Exchanges (TOBB) said a "concrete roadmap should be prepared to lower
inflation permanently," while also calling for austerity measures.
"We believe that our relations with our most important trading partner,
the European Union, should be turned back into a positive frame," the
statement said.
"As the business world, we have full confidence that our economy will
be balanced again to get back to a sustainable growth process quickly
by executing the necessary measures," it added.
Lavrov Tuesday will speak at the 10th Ambassadors' Conference and will
also meet Foreign Minister Mevlut Cavusoglu.
The two Ministers will hold a joint news conference after their meeting.
Lavrov's meetings are expected to address regional and international
issues, including bilateral relations as well as Syria in particular.
The five-day conference will host 249 Turkish Ambassadors and two Charge
d'Affairs, as well as a number of foreign diplomats.
In addition, Sabah (14.08.18
https://www.dailysabah.com/diplomacy/2018/08/14/chaos-in-us-administrations-management-of-foreign-affairs-fm-cavusoglu-says
) reports about the meeting between the two Ministrers and writes
that Cavusoglu stated that the United States has "chaos" in its
administration's management of foreign affairs.
"There is confusion within the U.S. administration. No one knows who
is doing what, not only against Turkey but in general there is chaos
in management," Cavusoglu said amid a visit by his Russian counterpart
Sergey Lavrov.
"If the U.S. wants to continue as a reputable country, it cannot do so
with these impositions," he added.
In a joint press conference with Cavusoglu, Lavrov on Tuesday called new
U.S. sanctions, including those targeting Turkish economy, an "unlawful
and illegitimate" policy.
Lavrov said the sanctions are a means for the U.S. to gain an unfair
competitive advantage in global trade and will ultimately undermine the
role of U.S. dollar as a settlement currency over time.
He added that conducting settlements in national currencies with Turkey
and other countries have been discussed for a long time.
Lavrov also said Russia is "surprised" at the West's position on Syrian
refugees, adding that conditions exist for start of refugees return.
The Foreign Minister arrived in Ankara on Monday for two days of talks
mainly over issues related to Syria. Cavusoglu and Lavrov are discussing
a four-way Syria summit planned between the leaders of Russia, France,
Turkey and Germany.
The four countries are also known to have been opposing new
U.S. sanctions, particularly those on Iran. Turkey, Russia and the
European Union are against severing economic ties with Iran.
In a ceremony at Fort Drum military base in New York on Aug. 13, Trump
expressed his pleasure for Congress' quick approval of the National
Defense Authorization Act.
"We are going to strengthen our military like never ever before. And
that's what we did," Trump said.
He said with the new budget for 2019, the U.S. will make a critical
investment in nuclear weapons.
Earlier this month, the Senate overwhelmingly approved the defense
policy bill.
It gives the Pentagon a $638 billion base budget for defense-related
programs linked to the Department of Energy plus an additional $69
billion for possible overseas operations.
It also authorizes a 2.6 % pay raise for troops, the largest in nearly
a decade, as well as boost the size of the Navy and the ranks of the
military by 15,600 active-duty troops.
It includes an amendment prohibiting sales to Turkey of the F-35 Joint
Strike Fighter jets until the Pentagon issues a report on Turkish-American
relations in 90 days.
The report is expected to include an assessment of Turkey's participation
in the F-35 program as well as the risks that would be posed by the
country's purchase of the Russian S-400 missile defense system.
Turkey's removal from the F-35 program was taken out of the bill by the
Congressional Conference Committee.
Defense Secretary Jim Mattis, in a letter to the Senate on July 7, opposed
Turkey's removal from the program, saying it could cause a disruption in
a supply chain for the U.S. military and its partners while increasing
other program costs.
Turkey has been in the F-35 program since 1999. The Turkish defense
industry has taken an active role in the production of aircraft. Alp
Aviation, AYESAS, Kale Aviation, Kale Pratt & Whitney and Turkish
Aerospace Industries have been producing parts for the first F-35
fighter jet.
Turkey plans to purchase 100 F-35 fighter jets in the coming years.
"MASAK started an investigation into people and institutions that spread
fake news, such as those claiming that 'converting foreign exchange into
Turkish lira by state invervention' and 'fixing dollar exchange rate'
by ditching floating rate policy, which is a main pillar of the free
market," Treasure and Finance Ministry Press Undersecretary Ali Berber
said in a tweet on Aug. 13.
Presidential Communications Director Fahrettin Altun described the rumors
as "disinformation campaign" based on a statement by President Recep
Tayyip Erdogan, who had said that "You must know that keeping this nation
on its feet is not just our duty but also the duty of industrialists and
merchants. Otherwise, I will be compelled to implement Plan B or Plan C."
"This disinformation campaign is part of the economic war that has been
waged against our country. At no point in his remarks did the President
talk about a potential seizure of foreign currency deposits. The
President's remarks reflected his administration's determination to
maintain the strength of Turkey's economy and served as a warning against
the potential outflow of foreign currencies," Altun said. "Provided
that the President did not reveal the details of plans B and C, it is
unacceptable that certain people come up with fictive scenarios in order
to unsettle the people and market players."
TURKISH AFFAIRS SECTION
(CS/ AM
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