Thursday

24th Jan 2019

Ticker

Erdogan appoints son-in-law as Turkish finance minister

Turkish president Recep Tayyip Erdogan was on Monday sworn in for another five-year term as president with new, stronger powers and named his son-in-law, Berat Albayrak, as the country's new finance minister. The Turkish lira dropped nearly three percent after the appointment of Albayrak, who served as energy minister since 2015. Former deputy prime minister Mehmet Simsek, seen as a market-friendly minister, was not reappointed.

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Stymied on 'golden passports', EU sets up expert group

The European Commission has described the sale of EU citizenship by Bulgaria, Cyprus and Malta as a "golden gate to Europe" for the rich. Unable to stop it, the commission now wants an expert group to probe the schemes.

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