Aug 15, 2018

Qatar announces $15 billion direct investment to support Turkey

Turkish President Recep Tayyip Erdogan (R) meets with Qatari Emir Sheikh Tamim bin Hamad al-Thani in Istanbul, Turkey on May 18, 2018. Photo: Cem Oksuz/Anadolu Agency via Getty Images

Qatar will invest $15 billion to help support Turkey's floundering economy, according to Turkey's state-run Anadolu Agency.

Why it matters: The lira shot up 5.5% against the dollar following the announcement, bolstering its gains from this morning, per Bloomberg. Turkey is hoping to escape its current currency crisis without raising interest rates or turning to the International Monetary Fund, though it's unclear whether that will be possible.

Go deeper

Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 20,412,501 — Total deaths: 744,649— Total recoveries: 12,629,465 — Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 5,163,509 — Total deaths: 164,994 — Total recoveries: 1,714,960 — Total tests: 63,252,257 — Map.
  3. Politics: Pelosi on state of coronavirus stimulus talks: "It's a chasm"
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: America is flying blind on its coronavirus response.
  6. Education: Gallup: America's confidence in public school system jumps to highest level since 2004.
Go deeper (<1 min. read)Arrow
Orion Rummler
3 hours ago - Politics & Policy

Pelosi on state of coronavirus stimulus talks: "It's a chasm"

Democrats and the Trump administration remain "miles apart" on negotiations over a coronavirus stimulus deal, House Speaker Nancy Pelosi (D-Calif.) said on Wednesday.

Driving the news, via Axios' Dion Rabouin: Congress' failure to renew enhanced unemployment measures for millions of Americans at the end of July is already affecting consumer spending patterns, holding down retail purchases and foot traffic, economists at Deutsche Bank say.

Go deeper (1 min. read)Arrow
Barak Ravid
3 hours ago - World

U.S. threatens to veto UN peacekeeping in Lebanon over Hezbollah concerns

Peacekeepers with Lebanese troops in southern Lebanon. Photo: Jalaa Marey/AFP via Getty

The Trump administration is threatening to veto a resolution to extend the UN's long-standing peacekeeping mission in southern Lebanon if its mandate isn't changed, Israeli and U.S. officials tell me.

Why it matters: The U.S. is the main funder of the UN Interim Force in Lebanon (UNIFIL), which has an annual budget of $250 million. The veto threat is a tactical move, and part of a broader effort to put pressure on Iran and its proxy in Lebanon, Hezbollah.

Go deeper (2 min. read)Arrow