financializer news A weblog highlighting financial topics making news in the international media.

beijing access: Despite heated denials from Phnom Penh, there are good reasons to believe the reports are accurate, according to The Japan Times. Such an agreement would mark a critical moment in Southeast Asian security and potentially transform the regional security outlook. The speculation took concrete form this week following a Wall Street Journal report that the two governments had concluded a secret agreement that would give Beijing access to a navy base in the south of Cambodia. China has long sought access to port facilities in South and Southeast Asia. One study identified 42 ports in 34 countries where Chinese firms have been involved in construction and which could serve China's strategic interests. Strategists have referred to a string of pearls, a network of ports and logistics facilities that would allow China to project power throughout those regions ostensibly to protect Chinese interests, in particular trade that transits those areas, but also to threaten those of potential adversaries. (news.financializer.com). As reported in the news.

co-founders facebook: The deal comes amid growing calls in Washington for greater transparency and accountability for technology companies, whose power over social movements as well as personal information has increasingly come to be seen as dangerous by politicians, users, and even one of Facebook's co-founders, according to The Independent. Facebook agreed to the deal following years of damaging admissions about the company's privacy practices, such as the inadvertent exposure of up to 87 million users' information to the political analysis firm Cambridge Analytica. It is the largest fine in FTC history and yet still only about a month's worth of revenue for Facebook. The settlement resolves a formal complaint by the FTC alleging that Facebook used deceptive disclosures and settings that eroded user privacy, violating a prior agreement Facebook signed with the commission in 2012. And the company allegedly deceived tens of millions of users by implying that a facial recognition feature on the service had not been enabled by default, when in fact it had. Facebook also broke the law, the FTC alleged, by misusing phone numbers obtained for account security purposes to also target advertisements to its users. (news.financializer.com). As reported in the news.

guizhou province: Since 2014, Chinese conglomerate Dalian Wanda Group has built a vocational college and tourist village and established a fund in Danzhai to help address poverty in the region, according to Global Times China. The group has invested 2.1 billion yuan 310 million so far. Photo Li Hao/GT For many women of the Miao ethnic group in Danzhai county, Southwest China's Guizhou Province, selling local cultural heritage products such as textiles, paper and Miao embroidery has enabled them to escape poverty. In return, the county has attracted investment and tourists, creating tax revenue of 270 million yuan and stimulating local GDP growth of 1.2 percent over the past four years. This is a small part of China's massive goal to lift all of its 1.4 billion people out of poverty by 2020. In April, the People's Government of Guizhou Province announced that Danzhai county had eradicated poverty. (news.financializer.com). As reported in the news.

company name: After all, according to a recently released report from Arcview Market Research and BDS Analytics, The State of Legal Cannabis Markets, global weed sales should grow at a better than 24% annual clip through 2024 to north of 40 billion, according to The Independent. Mind you, this figure focuses on licensed-store pot sales, but excludes cannabinoid-based pharmaceuticals and general-store cannabinoid revenue. Search first keyup' ; ; listener ; ;No matching results for ''Tip Try a valid symbol or a specific company name for relevant results Cancel Sign in Mailif window.performance window.performance.mark && && Finance Techif window.performance window.performance.mark && && U.S. Markets closedS&P window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && Marijuana Stocks Have a Trust Problem if window.performance window.performance.mark && && Williams, The Motley Fool Motley Fool July 25, 2019if window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && window.performance window.performance.mark && && years, the marijuana industry has been thriving, and the expectation is that even greener pastures await. Nevertheless, it signals robust growth in the years that lie ahead. More Image source Getty Images. Yet, if things are so perfect for the budding pot industry, you might be wondering why the bulk of cannabis stocks have been sinking for nearly four months A cannabis leaf lying atop a one-dollar bill, with George Washington's eyes peering through the leaves. (news.financializer.com). As reported in the news.

futures curve: But investors may be set up for disappointment when the decision is issued on July 31, given already high equity valuations, unrealistic expectations for future monetary stimulus, and the Fed's recent record of sometimes confusing communications, analysts and investors tell Market Watch, according to Market Watch. The futures curve says the Fed is going to lower rates two to three times this year, but if we end up with three cuts, that means the economy is worse than expected, said Boll Doll, chief equity strategist and senior portfolio manager at Nuveen. Indeed, hopes for monetary stimulus has helped the S&P 500 index SPX, 0.74% and the Nasdaq Composite COMP, 1.11% close at record highs Wednesday, while the Dow Jones Industrial Average DJIA, 0.19% reached a new closing high on July 15. Either the economy and earnings are okay, and the Fed doesn't have to go three times, or they do go three times, but that means the economy and earnings will be worse than expected. I think the Fed could be a source of chopiness and frustration when the thinking goes from three cuts to maybe they won't cut a second time, he said. I view the cut next week as really a reversal of the December hike, which they wish they had not done, Doll said, predicting that after next week, the Fed will move based on economic data which could very well come in strong enough to not warrant any further easing in 2019. (news.financializer.com). As reported in the news.

institutions: Industry insiders said that Bank of Jinzhou may have some borrowers that failed to repay their loans on time, causing liquidity problems, according to Global Times China. According to a report from sina, corporate loans account for more than 90 percent of the bank's loan portfolio. The bank said that its business is operating normally. The local branch of China's central bank and other regulators held a meeting with local financial institutions recently to discuss liquidity problems of the bank, Reuters reported on Wednesday, citing anonymous sources. As financial institutions in China face more competition in businesses such as asset management from third-party payment institutions, small banks that are more vulnerable to defaults are prone to encountering operational problems, Dong said. Dong Dengxin, director of the Financial Securities Institute at Wuhan University of Science and Technology, told the Global Times on Thursday that injecting abundant funds into the bank and helping it find investors would be a quick way to help it overcome its liquidity problems. (news.financializer.com). As reported in the news.

japanese stocks: It added 88.69 points on Wednesday. ; The Topix index of all first-section issues was up 2.76 points, or 0.18 percent, at 1,577.85, following a gain of 6.27 points, according to The Japan Times. Tech stocks such as semiconductor-related issues and makers of electronic parts rose further after the U.S. tech-heavy Nasdaq composite index and SOX Philadelphia semiconductor index closed at their all-time highs on Wednesday, brokers said. The 225-issue Nikkei rose 46.98 points, or 0.22 percent, to end at 21,756.55, a level unseen since May 7. But Japanese stocks cut their initial gains toward the close. For the Nikkei to go further and break the 22,000 line, the index will need fresh positive factors such as the yen's further fall or surprisingly positive earnings, an official of an online securities firm said. Investors refrained from active trading ahead of earnings releases from a host of major firms, as well as monetary policy meetings at the European Central Bank later on Thursday and at the U.S. Federal Reserve next week, said Ryuta Otsuka, strategist at the investment information department of Toyo Securities Co. (news.financializer.com). As reported in the news.

sbu: The SBU said it had seized documents from the ship and questioned its crew, according to The Guardian. It also released a video showing its officers and those from the military prosecutor's office boarding the vessel. Ukraine's SBU security service said in a Facebook post on Thursday it had seized the Russian tanker Nika Spirit in Izmail, a port on the Danube River near the country's border with Romania. The Russian foreign ministry threatened a swift retaliation if arrests were made, but later a spokesman for the Russian embassy in Kyiv told news agencies that while the vessel remained impounded, the crew were on their way back to Russia. Ukrainian prosecutors said about 10 crew members had been questioned. Map Earlier, the Russian agency Interfax, citing an unnamed source, said there were about 15 sailors onboard the ship, all believed to be Russian citizens. (news.financializer.com). As reported in the news.

tech fund: The European Central Bank will meet Thursday and is expected to lay groundwork for cutting rates in the fall, according to Market Watch. The head of the Reserve Bank of Australia will also speak Thursday and may give clues about future policy direction, and the Bank of Japan will meet next week, with experts saying its direction may depend on what the ECB does. Investors were largely awaiting word from central banks. The Fed also meets next week, when it is expected to cut interest rates. Australia's S&P/ASX 200 XJO, -0.36% gained 0.3%. Among individual stocks, Soft Bank 9984, 1.09% gained in Tokyo trading amid a report that it is poised to invest 40 billion in a new tech fund that will be backed by Apple AAPL, 0.35% and Goldman Sachs GS, 0.98% . Nintendo 7974, 0.10% also gained, while Sony 6758, 0.90% fell. Japan's Nikkei NIK, -0.45% rose 0.3%, and Hong Kong's Hang Seng Index HSI, -0.69% edged up 0.2%. The Shanghai Composite SHCOMP, 0.24% inched ahead 0.3% and the smaller-cap Shenzhen Composite 399106, 0.04% advanced 0.3%. South Korea's Kospi 180721, -0.40% slipped 0.7% after North Korea launched two short range missiles into the sea., while benchmark indexes in Taiwan Y9999, -0.45% Singapore STI, -0.52% Malaysia FBMKLCI, -0.52% and Indonesia JAKIDX, -1.19% were a mixed bag. (news.financializer.com). As reported in the news.

position: Besides, the official data showed that foreign direct investment in the United States position rose 319.1 billion dollars to 4.34 trillion at the end of 2018, according to Global Times China. Britain remained the top investing country in the United States with a position of 560.9 billion dollars, followed by Canada, Japan, the Netherlands and Luxembourg. The US direct investment abroad position, or cumulative level of investment, decreased 62.3 billion US dollars to 5.95 trillion at the end of 2018, according to data from BEA. The decrease was due to the repatriation of accumulated prior earnings by US multinationals from their foreign affiliates, largely in response to the 2017 Tax Cuts and Jobs Act, said BEA. Even though US multinational enterprises invest across the globe, the largest US direct investment abroad was in the Netherlands with a position of 883.2 billion dollars, followed by Britain, Luxembourg, Ireland and Canada. The US cannot strong-arm a determined ChinaUS aggression will not only hit bilateral ties, but damage global stabilityUS tech giants face antitrust review (news.financializer.com). As reported in the news.

project: Toyota and Didi have already cooperated on leasing vehicles to ride-hailing drivers since last year, as well as in the e-Palette project to develop electric and autonomous vehicles that can be used as mobile stores, according to The Japan Times. Global technology companies such as Amazon Inc. have joined the project. The venture, to be set up as early as this fall, will offer ride-hailing drivers a range of services that include vehicle maintenance, insurance and financing. ; GAC Toyota Motor Co., a venture established by Toyota and China's Guangzhou Automobile Group Co., will also join the project, through which Toyota aims to promote the use of electric vehicles suitable for future mobility services in China the world's biggest auto market. We look forward to combining Didi's expertise in AI-based large-scale mobility operations and Toyota's leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities, said Stephen Zhu, Didi's senior vice president, in a statement. Toyota also said in April it would jointly invest 1 billion in Uber Technologies Inc.'s new subsidiary to develop autonomous vehicles together with Soft Bank Group and auto parts supplier Denso Corp. In a bid to transform itself into a mobility company, Toyota has established Monet Technologies Inc. with investment and telecommunication giant Soft Bank Group Corp. to develop new technologies including self-driving cars. (news.financializer.com). As reported in the news.

trade commissionand: Even as the impact from all its privacy controversies and government inquiries is now starting to show up in both the top and bottom line, Facebook FB, -0.48% continues to be a Teflon company for investors, according to Market Watch. Earlier Wednesday, before it announced its second-quarter results, Facebook announced a 5 billion settlement with the Federal Trade Commissionand a separate 100 million fine to the Securities and Exchange Commission. But investors have barely flinched. And later, during the company's conference call with investors, Facebook Chief Financial Officer David Wehner said that he expects revenue growth rates will decelerate on a sequential basis. When asked for more details, Wehner cited lower price points for ad impressions and tough comparisons with the previous fourth quarter. We also expect more pronounced deceleration in the fourth quarter and into 2020, partially driven by ad targeting-related headwinds and uncertainties, Wehner told analysts. (news.financializer.com). As reported in the news.

trade: This is not to criticize the farmers, whose livelihoods are tied to international trade, which Trump has threatened by starting a trade war with China, according to The Independent. It is to point out that days earlier, when Trump claimed credit in a tweet for helping out the farmers, he was seeking praise for an effort to duct-tape a problem that he very much created. On Thursday, the Trump administration released details of a new raft of handouts to US farmers caught in the middle of the President's trade standoff with China. Farmers are starting to do great again, after 15 years of a downward spiral. The 16 Billion Dollar China replacement money didn't exactly hurt! Donald J. Trump real Donald Trump July 23, 2019Set aside that the farmers' predicament has been singly created by his nationalist trade policy or that this is the second such relief effort he's had to greenlight an earlier program totaled 12 billion in payments to farmers . It is even harder to square his government props for farmers with the demonizing of socialism he has pursued as a campaign tactic, poking at a festering divide in the Democratic Party.A few days before he was seeking praise for bailing out the farmers, Trump was attacking four lawmakers, all minority women, when he pledged again on Twitter that the US would never be a socialist country. The 16 Billion Dollar China 'replacement' money didn't exactly hurt! Read Morevar id function make Embed Script d, id var js,fjs;js id;js.charset '' ;fjs fjs ;js.src id ;Farmers are starting to do great again, after 15 years of a downward spiral. (news.financializer.com). As reported in the news.

kong: A third commenter sought to reassure others, writing that the central government promised that Hong Kong won't be changed for 50 years, according to CNN. There's only 28 years left before Hong Kong becomes part of China . That 2047 deadline, on which the clock began ticking after the United Kingdom handed Hong Kong over to China in 1997, is at the forefront of the minds of the mostly young protesters who have been taking to the streets for almost two months now, in increasingly violent confrontations with police and pro-government groups. The dignity of our motherland won't be allowed to be trampled, one person wrote on Weibo, the country's highly-censored equivalent to Twitter, while another warned the young protesters that playing violently is how you seek death. What began as protests over a now-suspended extradition bill have broadened to cover a host of demands, including calls for greater democracy and more government accountability, that many feel they are running out of time to achieve. Liberate Hong Kong, the revolution of our times, they chanted on Sunday. Read More Even as democratic values have increasingly come under threat around the world, and many voters in democracies are increasingly expressing apathy or despair, young Hong Kongers are determined to continue a fight for freedom which began decades ago under British rule, before time runs out and Hong Kong becomes just another Chinese city. (news.financializer.com). As reported in the news.

korean peninsula: The projectiles were a new type of short-range missile and posed a military threat which risked undermining the peace process on the Korean Peninsula, South Korea's Ministry of Defense said, according to CNN. The market losses in Seoul came despite a stronger-than-expected rebound in South Korea's economy in the second quarter. The Kospi index closed down 0.4% after the country's military said that Pyongyang had launched two missiles toward the East Sea, also known as the Sea of Japan. GDP rose by 1.1% following a surprise contraction in the first three months of the year, according to data published Thursday. Read More South Korea missed out on modest gains across other Asian markets, which were drawing support from confirmation of new US-China trade talks and hopes of central bank stimulus.US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will travel to Shanghai to meet with Chinese Vice Premier Liu He and other officials for trade talks starting on July 30, the White House said in a statement on Wednesday. We expect GDP growth to remain moderate over the rest of the year amid heightened trade uncertainties, but recent monetary easing by the Bank of Korea will provide some support, Oxford Economics said in a note. (news.financializer.com). As reported in the news.

resurgence: At the time he took office, private firms were responsible for about 50% of all investment in China and about 75% of economic output, according to The Guardian. But as Nicholas Lardy, a US economist who has long studied the Chinese economy, concluded in a recent study, Since 2012, private, market-driven growth has given way to a resurgence of the role of the state. Since then, Xi has engineered an unmistakable shift in policy. From the Mao era onwards, Chinese state firms have always had a predominant role in the economy, and the Communist party has always maintained direct control over state firms. But in his first term in office, Xi has overseen a sea change in how the party approaches the economy, dramatically strengthening the party's role in both government and private businesses. For more than a decade, the party has also tried to ensure it played a role inside private businesses. (news.financializer.com). As reported in the news.

share price: The FTSE 250 company's board will unanimously recommend the takeover to shareholders, according to The Guardian. The shares rose 35% to 166p on Thursday after the takeover was announced. Advent International has agreed to pay Cobham's shareholders 165p in cash for each of their shares 34% more than the company's closing share price on Wednesday. Cobham employs about 10,000 people, including 2,000 in the UK, and operates in more than 100 countries. The company was founded as Flight Refuelling Ltd in 1934 by Sir Alan Cobham, a pilot in the first world war who became a trailblazer of long-distance flying. The company supplies radar and other electronic products for the defence and aviation industries including world-leading systems that allow planes to refuel in mid-air. (news.financializer.com). As reported in the news.

chicago-based boeing: Investors largely shrugged off the large loss, which the company flagged last week, but sent shares lower after Muilenburg's comments on production, to trade about 2 percent lower, according to The Japan Times. Chicago-based Boeing has been unable to deliver any 737 Max aircraft since the single-aisle plane was grounded worldwide in March after two fatal crashes in Indonesia Ethiopia and Indonesia killed 346 people in a span of five months. The world's largest plane-maker also reported a fresh delay on its 777X widebody program as engine problems pushed the first flight into 2020 and it warned of possible further delays. ; Chief Executive Dennis Muilenburg said on a conference call after reporting quarterly results that the company could consider further 737 production cuts as the Max crisis drags on. The total cost so far of the 737 Max crisis now exceeds 8 billion after Boeing disclosed a 4.9 billion charge last week that includes compensation the plane-maker will have to pay airlines for the delayed deliveries. Click here to view an interactive graphic tmsnrt.rs/2MaWqTt Boeing has embarked on a campaign to restore faith in its most popular jet and has pledged to remove any risk by reprogramming the software pinpointed as a common factor in both crashes as it faces pressure to convince Max operators and global regulators that the aircraft is safe to fly again. The second-quarter loss was Boeing's biggest ever, according to company records. (news.financializer.com). As reported in the news.

gauge state: Share to facebook Share to twitter Share to linkedin Getty Fiverr has just released a fresh Freelance Economic Impact Report 2019 report, according to The Independent. The company surveyed over 5.6 million independent skilled workers residing in the U.S. to gauge the state of their affairs. Careers I cover smart freelancing, the gig economy and remote work. Specifically, they engaged with professionals working in the creative, technical and professional services niches across the country to estimate their income, socio-economic background and approximate the most lucrative freelance markets. Below are several key insights about the current freelance economy landscape that both freelancers and their employers should take note of. 1. The report determined that 54% of skilled talent lives in the top 25 metropolitan areas spanning across the U.S. and most data was obtained in regards to those locations. (news.financializer.com). As reported in the news.

ge shu: Also, the number of foreign trademark applications rose by 15.4 percent, Zhao Gang, an official of China's National Intellectual Property Administration CNIPA said at a press conference of the State Council, China's cabinet, on Wednesday, according to Global Times China. Japan topped the list of foreign patent applications, up 12.6 percent year-on-year, followed by the US and Germany, chianews reported, citing Ge Shu, an official of CNIPA. The steady rise is a strong piece of evidence against some Western media accusations of China's lack of IPR protection for foreign players, and it showed the results of China's years of effort to protect the interests of foreign companies, Zhao Zhanling, a senior analyst at the Center for IPR Studies at the China University of Political Science and Law, told the Global Times on Wednesday. Amid a global economic downturn, it also reflects foreign companies' rising confidence in the Chinese business environment. This is an important promise that China, the world's second-largest economy, gave to the world, Zhao said, noting that building a favorable investment environment shows China's firm stance of opening up. He said that to improve China's innovation and business environment, the CNIPA will improve communication with foreign-funded and other enterprises, and treat all market players as equals. Foreign investors are confident of China's business environment, Zhao Gang said. (news.financializer.com). As reported in the news.

issue nikkei: Semiconductor-related firms and electronic parts makers continued to attract purchases following Tuesday's stronger-than-expected earnings report from U.S. chip giant Texas Instruments Inc., brokers said, according to The Japan Times. Investor sentiment was also lifted by hopes for progress in U.S.-China trade talks after media reports that U.S. Trade Representative Robert Lighthizer will visit China next week for high-level trade talks, they said. The 225-issue Nikkei average gained 88.69 points, or 0.41 percent, to end at 21,709.57, after a gain of 204.09 points on Tuesday. ; The Topix index of all first-section issues was up 6.27 points, or 0.40 percent, at 1,575.09, following a rise of 12.45 points. Investment funds may be shifting to cyclicals from defensives amid improved sentiment, an official of a bank-linked securities firm said, citing a fall in domestic demand-oriented firms such as realtors and road transporters. Position-squaring selling limited stocks' upside after the Nikkei's rise of over 200 points yesterday, said Yutaka Miura, senior technical analyst at Mizuho Securities Co. Stocks became top-heavy as they failed to maintain their momentum in afternoon trading. (news.financializer.com). As reported in the news.

hong: As an international financial center, Hong Kong's core competitiveness lies not only in the preferential policies by the central government or the number of companies listed in Hong Kong, but in the cluster effect as a result of the gathering of many professionals like lawyers, accountants, investment bankers and consultants, according to Global Times China. Such transaction-oriented infrastructure and financial ecology have laid a solid foundation for the consolidation and development of Hong Kong's status as a financial center. It then begs a question Will Macao rise to compete with Hong Kong as another global financial center Macao has long been overshadowed by Hong Kong, which indeed has remarkable advantages. By comparison, Macao's disadvantages are also obvious. Also, Macao has long been reliant on the gaming industry. Its area is only about one-fortieth of that of Hong Kong, with its population around one-tenth of that of Hong Kong. (news.financializer.com). As reported in the news.

hbo max: Viewers have been fleeing once their two-year price locks expire, and the dismal trend could persist, with management acknowledging that the video business will see more expirations through the end of the year, according to Market Watch. Whether the company can tap into streaming to stem the bleeding remains an open question, given that AT&T's early attempts haven't made things any better. Premium TV declines accelerated last quarter, as AT&T's T, 1.71% DirecTV and U-verse businesses shed a combined 778,000 subscribers. Streaming service DirecTV Now was originally billed as a way to counteract the decaying satellite TV market, but now its just another contributor to the decline, according to Moffett Nathanson's Craig Moffett. The newest effort is HBO Max, a coming streaming service that aims to take advantage of AT&T's Time Warner acquisition. It lost 168,000 subscribers last quarter. (news.financializer.com). As reported in the news.

market committee: On the other hand, U.S. stock prices are near record highs, according to Market Watch. So a prudent strategy for dividend investors might be to scour the U.S. for underperforming shares of companies that generate enough cash to cover payouts. The U.S. Federal Reserve, European Central Bank, Swiss National Bank and other central banks around the world are in loosening mode, which is pushing down interest rates and inadvertently hurting income investors. Fed frenzy Investors are convinced the Federal Open Market Committee will start a new round of interest-rate cuts as early as July 31. As absurd as that might seem, especially when developed economies aren't in recession, this type of craven monetary policy has gone mainstream. There has been plenty of discussion in the financial media about the Fed needing to compete with other central banks, whose policies have led to 13 trillion in bonds with negative yields. (news.financializer.com). As reported in the news.

caracas plaza: When previously unknown Venezuelan opposition politician Juan Gua do stood up in an East Caracas plaza and declared himself interim president of the South American country, Western corporate media were ebullient, according to MSNBC. In those heady early days, corporate journalists could scarcely conceal their love affair with the 35-year-old politician, whom they likened to Barack Obama CNN 2/7/19 and described as a freedom fighter Fox Business 1/29/19 and Venezuela's only democratically elected figure MSNBC 1/24/19 who had captured the heart of the nation New York Times, 3/4/19 . Nearly six months later, with Gua do no closer to ousting Venezuela's elected president, Nicol s Maduro, from Miraflores Presidential Palace, the enthusiasm has dampened. CBC depiction 6/29/19 of Juan Gua do. Now that the honeymoon is over, it would appear that corporate journalists have been compelled to reckon with some uncomfortable truths about Gua do, US sanctions and the coup they had been vigorously endorsing. After Gua do's self-proclamation in January, the corporate outlet 1/23/19 gushingly described him as a salsa-loving baseball fan, who posed the boldest challenge to socialist President Nicolas Maduro's rule in years. A dying romance image Bloomberg Forced to Bathe With a Bucket of Water, Juan Guaido Soldiers On Disappointed Venezuelans Lose Patience With Gua do, writes Reuters 7/1/19 in what might be read as a projection of its journalists' own frustration with Washington's failing coup. (news.financializer.com). As reported in the news.

ali kemal: The former London mayor is the great-grandson of the Ottoman Empire's last interior minister, Ali Kemal, and his ancestry has been a source of pride for many Turks, according to Nine News Australia. Despite his sometimes disparaging remarks about Turkey, including a crude limerick about President Tayyip Erdogan and demands in 2016 that Britain veto Turkey's accession to the European Union, Johnson is affectionately referred to as Boris the Turk by some Turkish media. To improve your experience update it here News World Turks welcome 'Ottoman grandson' Johnson By AAP10 26pm Jul 24, is celebrating incoming British prime minister Boris Johnson's Turkish heritage, with politicians and media proclaiming that the Ottoman grandson could strengthen ties between two countries on Europe's fringes. Ottoman grandson becomes prime minister, read a front-page headline of the opposition newspaper Sozcu. Like Johnson, his great-grandfather was a journalist who went into government, a move that proved ill-fated. For England, a prime minister with roots in Cankiri, it said, referring to Kemal's home province in central Turkey. (news.financializer.com). As reported in the news.