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“One man’s loot”

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“One man’s loot”

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Finance

Erdogan targets American consumer products in retaliation for sanctions

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Turkey’s president escalated tensions with the US on Tuesday after calling for a boycott of American electronics, amid reports that diplomatic talks have stalled over the issue of a detained US pastor.

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Showing no signs of backing down in a standoff with President Donald Trump, Recep Tayyip Erdogan suggested that Ankara would stop buying US-made iPhones and buy Korean Samsung or Turkish-made Vestel instead.

“If they have the iPhone, there is Samsung elsewhere. We have Vestel,” he said, renewing calls for people to convert their dollars to lira as the Turkish currency began to rally on Tuesday morning.

However, financial experts questioned whether much a move would have much of an effect given Turkey’s current purchasing power.

The country’s finance chief, Mr Erdogan’s son-in-law is due to address foreign investors later on Tuesday, in an attempt to quell growing concerns. 

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Finance

Vienna ranks as most liveable city in 2018 displaces Melbourne

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For the first time in the survey history of Economist Intelligence Unit, Austria’s capital, Vienna, has been ranked as the most liveable city out of 140 cities in the world.

A long-running contender to the title, Vienna has succeeded in displacing Melbourne from the top spot, ending a record seven consecutive years at the head of the survey for the Australian city.

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Although both Melbourne and Vienna have registered improvements in liveability over the last six months, increases in Vienna’s ratings, particularly in the stability category, have been enough for the city to overtake Melbourne.

The two cities are now separated by 0.7 of a percentage point, with Vienna scoring a near-ideal 99.1 out of 100 and Melbourne scoring 98.4.

Below is a ranking of the top and bottom cities surveyed, accompanied by the liveability rating for every city.

most-liveable

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