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Erdogan, AK Party set to keep grip with interim Turkish cabinet

By Ercan Gurses and Orhan Coskun. ANKARA, Aug 21- President Tayyip Erdogan and the ruling AK Party will keep their grip on power when an interim government is formed next week to lead Turkey to a snap election, with the cabinet set to be dominated by loyalists. The AK Party, founded by Erdogan, lost its majority in a June 7 election for the first time since coming to power...
Source: Reuters
UPDATE 4-Turkish PM makes last-ditch call for unity as govt deadline looms

ANKARA, Aug 20- Prime Minister Ahmet Davutoglu made a last-ditch call for Turkey's political parties to agree a working government on Thursday, three days before a deadline that would otherwise see President Tayyip Erdogan call a snap election. Turkey's politicians have until Aug. 23 to agree a working government or else Erdogan could call for an interim,...
Source: Reuters | By: Orhan Coskun and Ercan Gurses
UPDATE 2-As Turkish lira crumbles, Nov. 1 election date is floated

ANKARA, Aug 20- Turkey's election commission has proposed that any snap parliamentary election should be held on Nov. 1, officials of the ruling AK Party said on Thursday, reinforcing the sense that a re-vote is inevitable after June's poll yielded no working majority. AKP officials said the High Election Board had proposed Nov. 1 as the date.
Source: Reuters | By: Orhan Coskun and Ercan Gurses
Turkish lira hits record low after bank holds rates

Turkey's central bank has kept interest rates on hold on Tuesday despite mounting political concerns pushing the Turkish lira to record lows.
Source: CNBC.com | By: Holly Ellyatt