Kuwait offers $2 billion in loans, investments to rebuild Iraq

Agencies
February 14, 2018

Kuwait City, Feb 14: Kuwait’s ruling Emir Sheikh Sabah Al Ahmad Al Sabah said on Wednesday that his nation will give $1 billion in loans and $1 billion in direct investments to help rebuild Iraq.

The stunning donation, as only a decade ago Saddam Hussein invaded the small, oil-rich nation, shows the deep interest Kuwait has in making sure Iraq becomes a peaceful, stable country after the war against the Islamic State group and the chaos that followed the 2003 United States-led invasion of Baghdad.

“This large assembly of international communities that are here today is reflective of the large loss that Iraq withstood in facing terrorism,” Sheikh Sabah said at a donors' summit at Kuwait City’s Bayan Palace.

“Iraq cannot commence the mission of rebuilding itself without support, which is why we are all here today from all around the world, to stand by Iraq’s side,” he said.

Among the hardest-hit areas in Iraq is the city of Mosul, which Iraqi forces, aided by Iranian-backed Shiite militias and a U.S.-led coalition, recaptured from the Islamic State group in July 2017. Their victory came at a steep cost for Mosul, as coalition airstrikes and extremist suicide car bombs destroyed homes and government buildings.

Of the money needed, Iraqi officials estimate that $17 billion alone needs to go toward rebuilding homes, the biggest single line item offered on Monday, on the first day of meetings. The United Nations estimates 40,000 homes need to be rebuilt in Mosul alone.

The war against the Islamic State group displaced more than 5 million people, only half of whom have returned to their hometowns.

The U.S., under President Donald Trump, also seems uninterested in directly investing in Iraq’s reconstruction.

The U.S. alone spent $60 billion over nine years, some $15 million a day to rebuild Iraq. 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. U.S. government auditors also found massive waste and corruption, fueling suspicions of western politicians like Mr. Trump who want to scale back foreign aid.

Meanwhile, regional tensions may affect how spending comes. Iranian Foreign Minister Mohammad Javad Zarif attended the meeting, skipping a group photograph held before.

Meanwhile, Saudi Arabia and other Gulf nations remain suspicious of Iran’s influence in Iraq.

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News Network
February 28,2020

New Delhi, Feb 28: The Congress on Friday reacted sharply to the petition in the court seeking registration of a First Information Report against Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra for alleged hate speeches. It said the petition was to save BJP leaders Pravesh Verma, Anurag Thakur and Kapil Mishra, referring to the trio as "PAK".

Congress leader Jaiveer Shergil told news agency, "It is political interest litigation to hide the failure of the government and to put a lid on the BJP's involvement in fuelling the fire in Delhi riots.

"This is to hide and save BJP's PAK -- Pravesh, Anurag and Kapil," said Shergil.

The BJP has two parameters, the laws for the common man and citizens of the country are different from those for the BJP leaders, added Mr Shergil.

The Delhi High Court on Friday issued notices on a petition for the registration of an FIR against Sonia Gandhi, Rahul Gandhi, Priyanka Gandhi Vadra and others on charges of delivering hate speeches.

Congress said that the PIL was politically motivated and the inaction on the hate speeches made by the BJP leaders, which led to the riots, was shocking.

"When there are 48 cases registered, why three cases against the BJP leaders are not registered," asked Mr Shergil.

A Bench of Chief Justice DN Patel sought responses from the Central and Delhi governments apart from Delhi Police on a petition filed by Lawyers Voice. The matter will again be heard on April 13.

The petition also sought a case against Aam Aadmi Party leaders Manish Sisodia and Amanatullah Khan, All India Majlis-e-Ittehadul Muslimeen leaders Akbaruddin Owaisi and Waris Pathan, and lawyer Mehmood Paracha.

"Issue directions to constitute an SIT to look into these hate speeches and take appropriate action. Issue direction to register an FIR against those named in the petition," the petition said.

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News Network
June 10,2020

Chennai, Jun 10: DMK MLA J Anbazhagan who had tested positive for coronavirus and was on ventilator support from June 3 passed away at a hospital in Chennai on Wednesday.

Coincidently, today is the 62nd birthday of the MLA.

"Anbazhagan J, who has been fighting for his life with severe COVID 19 pneumonia rapidly deteriorated early this morning. In spite of full medical support including mechanical ventilation at our COVID facility, he succumbed to his illness. He was declared dead at 08:05 hours on the 10th of June 2020," the hospital said in a statement.

In 2001, Anbazhagan was elected from T Nagar Assembly constituency. He served for five years.

Later in 2011, he was elected to Tamil Nadu Assembly from Chepauk-Thiruvallikeni seat. The DMK leader was re-elected from the same constituency in 2016.

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Gulf News
May 29,2020

Dubai: There aren’t that many job vacancies right now – but be prepared for a 15-20 per cent cut in salary expectations even for those positions that are still open. Businesses in the UAE are definitely not in a generous mood when it comes to hiring, with salary cuts now part of the new normal.

And they are definitely not willing to take on new hires without extracting some cost benefit from them. “We have seen major [salary] cuts across the board in hospitality, real estate, professional services and in retail,” said Vijay Gandhi, regional head at Korn Ferry Digital, the recruitment consultancy.

“And once the headcount correction is complete in [the local] financial services and energy sector, we may see more cuts in rewards and benefits in these categories as well.”

The salary cuts are slowly extending their way into the healthcare sector as well – just about every non-COVID-19 facing medical category is coming across cuts in the number of working hours and, by extension, their take home packages.

By end of June, more businesses and sectors in the UAE will have a better understanding of their short-term revenue prospects. By then, they will also have a better reading on what their staff strength should be – and whether there should be more trimming of the workforce. Or whether they should consider a few hires as well.

A long summer
So, realistically, it could be September before such decisions need to be taken. The coming weeks will then prove to be laden with anxiety for those who are expecting to land a job option after being laid off at their current employers.

There are multiple instances of recruitment decisions having been made in February/March, and then the companies rescinding those offers to the chosen candidates citing the business uncertainty.

“The decision to hire is taking longer – so job creation is now 4-6 weeks from interview and selection compared to 4-6 days in the past,” said Gandhi.

The lucky ones
Recently, free zones and other entities had made it easier for personnel on the visa of one entity being able to smoothly transfer to another if they are likely to be made redundant. “We are seeing more flexibility being offered by the authorities given the circumstances, and the visa transfer process is happening,” said Gandhi.

“But in the vast majority of cases, businesses are going to wait and watch before normal hiring activity starts. Organizations will look to hire from September.”

A few hires are still happening
Even in the business turmoil set off by COVID-19, a few categories are still offering jobs. At the entry level, logistics services personnel and drivers with experience remain in demand.

Not just “routine jobs, there have been confirmations in more technical roles such as procurement and operations in healthcare and e-commerce,” said Gandhi. “Employers should keep an eye for good talent and have the talent acquisition team actively looking for good profiles.

“As such, organizations are not only looking at “right sizing” in numbers but also “future proofing” on what kind of skilled talent will help them in the post-COVID-19 world.”

But for the candidates, the present will be about waiting around for the call to come.

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