President Tayyip Erdogan declared Istanbul's Hagia Sophia open to Muslim worship on Friday after a top court ruled that the building's conversion to a museum by modern Turkey's founding statesman was illegal.
Foreign currency interventions by the central bank to support the lira have drained the country's reserves.
Can Selcuki from Istanbul Economics Research discusses what the Turkish central bank can do deal with the country's inflation problem and weakening currency.
David Hauner, head of emerging EMEA economics and cross asset strategy at BofA Global Research, discusses emerging markets.
The warning comes after talks between Argentina's government and international creditors to restructure $65 billion in debt hit a roadblock.
Zafer Sonmez of the Turkey Wealth Fund explains how the firm has positioned itself as a "crucial and core part" of corporate responses to the coronavirus in terms of equity.
"In my view, in the next three to five years, sovereign-owned entities and sovereign funds will play an important role in the equity part of the game," Sonmez told CNBC.
The central bank's decision to enact its ninth-straight rate cut brings the key rate down 50 basis points to 8.25%.
The move secures much-needed funding as the country of 82 million burns through its reserves and faces a widening fiscal deficit.
Uber is cutting 3,000 more jobs less than two weeks after an initial round of layoffs, CNBC confirmed Monday.
Many of the globe's biggest companies are helping to address the coronavirus pandemic. Turkish appliance maker Arçelik has started producing ventilators. CEO Hakan Bulgurlu say they're on track to manufacture 5,000 by the end of the month.
The Turkish currency has been under mounting pressure amid rising inflation, growing unemployment and slow growth — and now, the highest number of coronavirus cases in the region.
The global pandemic would have been more difficult for Egypt if not for comprehensive reforms on taxes, budgets and foreign exchange that the country undertook, said Rania al-Mashat, minister for international cooperation.
Companies around the world will alter their supply chains to be less dependent on China in the wake of the coronavirus crisis, according to investor Mark Mobius.
Mark Mobius, founder of Mobius Capital Partners, outlines how the global economy could change once the coronavirus pandemic has passed.
With oil demand collapsing, CNBC's Jim Cramer and other top market analysts share their outlook for the commodity.
Covid-19 has infected more than 2.4 million people around the world, killing at least 168,500 as of Monday, according to data compiled by Johns Hopkins University.
Covid-19 has infected more than 2.3 million around the world as of Saturday, killing at least 158,600 people.
Turkey has reported more than 4,000 new coronavirus cases per day for the past week, a sudden surge that's alarmed health experts.
ISTANBUL, March 12- Turkey, which unleashed massive stimulus to recover from a 2018 currency crisis, is poised to stretch its central bank and public finances even more to defend the economy and tourism sector from the global coronavirus pandemic. Turkey is the world's sixth-largest tourist destination but waves of travel restrictions and cancellations...
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