Tuesday, 25 September, 2018

Turkey pledges $5B in loans, investment for Iraq reconstruction, FM Çavuşoğlu says

A worker repairs a house in Mosul Iraq A worker repairs a house in Mosul Iraq
Patty Aguilar | 14 February, 2018, 18:06

Other global players participating in the conference have also pledged their support, with the European Union promising €400 million ($494 million) in investment and the USA extending its $3 billion credit line, but not promising any direct government aid.

Zarif made the comments upon his arrival in Kuwait City on Tuesday to take part in the three-day Kuwait International Conference for the Reconstruction of Iraq (KICRI).

Emir Sheikh Sabah Al Ahmad Al Sabah said $1 billion will be in the form of loans, and the rest will be invested in projects in the war-battered country.

Donors and investors have gathered in Kuwait this week to discuss efforts to rebuild Iraq's economy and infrastructure as it emerges from a devastating conflict with Islamic State militants who seized nearly a third of the country. Their victory came at a steep cost for Mosul, as coalition airstrikes and extremist suicide auto bombs destroyed homes and government buildings.

The emir congratulated the Iraqi people on victory achieved, which led to the defeat of the Islamic State (IS) and abolishing it from most its soil.

Bank of Baghdad, a subsidiary of Burgan Bank Group is now the largest private bank in Iraq.

HTC Smartphone President Resigns
Over the past couple of years, he's been at the helm of HTC's switch in design language with the U Ultra and the U 11 variants. HTC said it is a personal career move, while media reports indicate Chang intends to launch an AI startup in the future.

Adam Rippon & Eric Radford Won Medals At 2018 Winter Olympics
Rippon and Kenworthy have been outspoken in their criticism of Vice President Mike Pence's role in the Winter Olympics. Last night, Rippon put on a flawless performance along to the song "O" by Coldplay in the 2014 Ghost Stories album.

Fraudulent transactions worth Rs 11500 crore detected from PNB's Mumbai branch
The matter is already referred to the law enforcement agencies to examine and book the culprits as per the law. Based on these transactions, other banks appear to have advanced money to these customers overseas , it said.

Distractions are adding up, such as Turkey's fighting with US -backed Kurdish rebels in Syria and intensifying anti-American rhetoric from Turkish leaders. Around $25 billion went to Iraq's military, which disintegrated during the lightning 2014 offensive of the Islamic State group, which grew out of al-Qaida in Iraq. US government auditors also found massive waste and corruption, fuelling suspicions of Western politicians like Trump who want to scale back foreign aid.

At the same conference the USA said it was extending a three billion dollars credit line but was not providing any direct government assistance.

Iraqi and World Bank officials yesterday talked up legal guarantees available in post-IS Iraq, pointing to an investment law that offers ownership, unlimited cash transfers and tax breaks, among other benefits.

More than 70 countries would attend the Wednesday meeting.

Qatar, meanwhile, remains boycotted by four Arab nations, including three in the Gulf, which has split the typically clubby relations among the nations.

Ambassador of Kuwait Mansour Al-Otaibi said that in February this country is the temporary president of the UN Security Council and prioritizes the discussion of issues related to the Middle East.

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