Turkish lira weakens slightly, focus turns to Syria offensive
October 9, 2019, 9:27 am

Turkish lira weakens slightly, focus turns to Syria offensive

Turkey’s lira weakened slightly as investors pondered prospects for Ankara’s planned incursion in northeast Syria. (File photo AFP)

Turkey’s lira weakened slightly on Wednesday as investors pondered prospects for Ankara’s planned incursion in northeast Syria, with an aide of President Tayyip Erdogan saying Turkish forces will cross the border “shortly.”

Erdogan’s communications director Fahrettin Altun made the comment overnight in a tweet and in a Washington Post column as a surprise withdrawal of US troops made way for the Turkish offensive against a Syrian Kurdish militia.

The lira traded at 5.8415 at 0542 GMT, easing from a close of 5.8350 on Tuesday. It hit its weakest level in more than a month this week.

The lira has been pulled in both directions this week by comments from US President Donald Trump. A day after warning he could “obliterate” Turkey’s economy if it went too far in its Syria operation, Trump tweeted on Tuesday that Ankara was a “big trading partner” of the United States and had been “good to deal with.”

The extensive area of Ankara’s planned incursion into Syria could lead to months of military activity that raises concern in the markets, dealers say.

Tensions between the United States and Turkey have been simmering in recent months over issues including Ankara’s purchase of Russian missile defense systems and disagreements over policy in Syria.

source:Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”