Erdogan slams Western media over negative economy coverage

President Recep Tayyip Erdogan singled out The Financial Times in his remarks. (File/AFP)
Updated 18 April 2019
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Erdogan slams Western media over negative economy coverage

  • Turkey’s economy has slipped into its first recession in a decade after a currency crisis last year battered the lira
  • The Turkish leader has in the past attacked Western media coverage on the country’s economy

ISTANBUL: Turkey’s President Recep Tayyip Erdogan on Thursday criticized Western media coverage of the country’s economy after a Financial Times report questioned the central bank’s management of foreign currency reserves.
Turkey’s economy has slipped into its first recession in a decade after a currency crisis last year battered the lira, leaving foreign investors jittery over the government’s policies to manage growth.
The Financial Times on Wednesday reported that the central bank had bolstered its foreign reserves with short-term lending in what analysts worried was a way to overstate its buffer against any new lira crisis.
Last month, the lira fell nearly six percent in one day because of investor concerns over foreign reserves as well as worries the government had turned to unorthodox ways to shore up the currency before March 31 elections.
“Unfortunately, some quarters in the West, using all their media tools, are trying to say our economy has collapsed,” Erdogan told a business forum.
“Let them write what they want, write the headlines they want. The Financial Times writes some things. But the situation in my country is clear.”
The Turkish leader has in the past attacked Western media coverage on the country’s economy. Last month, he blamed currency fluctuations on a Western plot led by the United States to weaken Turkey.
The lira was down almost 1.5 percent against the dollar in Thursday afternoon trading.
The Financial Times story said it had calculated Turkey’s foreign reserves were much lower than the $28.1 billion officially reported in April if the short-term borrowing was stripped out of the calculation.
In a response to the FT, the central bank acknowledged short-term operations may impact reserve figures, though it said its accounting was in compliance with international standards.
But some analysts told the FT they were worried about unorthodox methods and transparency.
The weakening economy was part of the reason Erdogan’s AKP lost Ankara and Istanbul in last month’s local election, in what was a stinging rebuke to the ruling party after more than a decade and a half in power.
After a trade dispute with the US last year, Washington imposed sanctions on Turkey and tariffs on some Turkish goods, leading to a 30 percent slide in the lira’s value.


Facebook suspends thousands of apps but user impact unclear

Updated 22 September 2019

Facebook suspends thousands of apps but user impact unclear

Facebook said Friday that it has suspended “tens of thousands” of apps made by about 400 developers as part of an investigation following the Cambridge Analytica scandal.
The announcement came the same day that unsealed legal documents in Massachusetts disclosed that Facebook had suspended 69,000 apps. In the vast majority of cases, however, the suspensions came not after any kind of serious investigation but because app developers had failed to respond to emailed information requests.
Starting in March 2018, Facebook began looking into the apps that have access to its users’ data. The probe came after revelations that data mining firm Cambridge Analytica used ill-gotten data from millions of Facebook users through an app, then used the data to try to influence US elections.
It led to a massive backlash against Facebook that included CEO Mark Zuckerberg being called to testify before Congress. The company is still trying to repair its reputation.
Facebook said Friday its app investigation is ongoing and it has looked at millions of apps so far.
The company said it has banned a few apps completely and has filed lawsuits against some, including in May against a South Korean data analytics company called Rankwave. In April, it sued LionMobi, based in Hong Kong, and JediMobi, based in Singapore, which the company says made apps that infected users’ phones with malware.
Facebook settled with the Federal Trade Commission for a record $5 billion this summer over privacy violations that stemmed from the Cambridge Analytica scandal. The company said the FTC agreement “will bring its own set of requirements for bringing oversight to app developers. It requires developers to annually certify compliance with our policies” and that developers who don’t do this will be “held accountable.”
Also, on Friday, a judge unsealed a subpoena by the Massachusetts attorney general demanding that the social network disclose the names of apps and developers that obtained data from its users without their consent. It also asked for all Facebook internal communications about those apps.
The state began investigating Facebook when the Cambridge Analytica scandal broke. But the company refused to identify any of the apps or developers, and the subpoena would have remained confidential under Massachusetts law had Facebook not insisted on keeping it and related exhibits secret.
Massachusetts Attorney General Maura Healey’s consumer protection division had sought data on apps from prior to 2014, when Facebook announced changes to the platform to restrict access to user data.
Facebook tried to redact the subpoena in negotiations before Friday’s ruling by state Judge Brian A. Davis. But Healey’s office fought to limit the redacted sections.
Facebook did disclose that it had identified more than 10,000 apps that “show characteristics associated with higher risks of data misuse” but did not identify any of them.
The state attorney general noted that Facebook had allowed developers to integrate at least 9 million apps into the platform as of 2014 and had, for many years, allowed developers to access user data, including photos, work history, birthdates and “likes.” This applied not just from people who installed the apps but also to their Facebook friends who did not.
The unsealed subpoena also says that Facebook informed the Massachusetts attorney general’s office that it had identified about 2 million apps “as warranting a closer examination for potential misuses of Facebook user data.”
That suggests that, five years ago, more than one in four apps may have been accessing Facebook users’ data without their knowledge or consent.