Middle East

Lebanon’s Banks Have the Highest Cash Reserve Ratios in the World

"There are three features that distinguish the Lebanese financial system: 1. The banks have the highest cash reserve ratios in the world. 2. The central bank holds the second highest gold reserves on a per person basis. 3. Real financial privacy. Lebanon is also one of the few countries left in the world that still has real financial privacy, both in theory and in practice… just not for Americans, though, thanks to FATCA, which Lebanon has indicated it will comply with. Additionally, Lebanon ranks only behind Switzerland in terms of gold reserves per person according to this chart below from The Economist." Continue reading →

Continue ReadingLebanon’s Banks Have the Highest Cash Reserve Ratios in the World

U.S. Officials: Al-Qaeda Developed Liquid That Turns Clothes Into Explosives

"Two senior U.S. government sources who have been briefed on the terror threat that prompted the U.S. to close embassies across the Mideast and North Africa this week, told the network that clothes dipped in the liquid become explosive devices when dry. One of the U.S. officials described the new generation explosive as 'ingenious,' while another said it would be undetectable under current security processes. The liquid explosive is believed to be the brainchild of the Yemen-based affiliate Al-Qaeda in the Arabian Peninsula (AQAP), the officials told ABC News." Continue reading →

Continue ReadingU.S. Officials: Al-Qaeda Developed Liquid That Turns Clothes Into Explosives

Army won’t suspend contracts with Al Qaeda-tied companies, citing ‘due process rights’

"The U.S. Army is refusing to suspend contracts with dozens of companies and individuals tied to Al Qaeda and other extremist groups out of concern for their 'due process rights,' despite repeated pleas from the chief watchdog for Afghanistan reconstruction. In a scathing passage of his latest report to Congress, Special Inspector General John Sopko said his office has urged the Army to suspend or debar 43 contractors over concerns about ties to the Afghanistan insurgency, 'including supporters of the Taliban, the Haqqani network and al Qaeda.' Sopko wrote that the Army 'rejected' every single case." Continue reading →

Continue ReadingArmy won’t suspend contracts with Al Qaeda-tied companies, citing ‘due process rights’

CFR Admits Drones May Be Creating Sworn Enemies of the United States

"With its so-called signature strikes, Washington often goes after people whose identity it does not know but who appear to be behaving like militants in insurgent-controlled areas. The strikes end up killing enemies of the Pakistani, Somali, and Yemeni militaries who may not threaten the United States at all. Worse, because the targets of such strikes are so loosely defined, it seems inevitable that they will kill some civilians. The drone campaign has morphed, in effect, into remote-control repression: the direct application of brute force by a state, rather than an attempt to deal a pivotal blow to a movement." Continue reading →

Continue ReadingCFR Admits Drones May Be Creating Sworn Enemies of the United States

Turkish prime minister joins trial run through rail tunnel under Bosphorus

"Turkey has successfully completed a trial run of a rail tunnel connecting Istanbul's European and Asian sides, the first of several planned mega-projects in the country's largest city. The 13.6km (8.5-mile) tunnel, including a 1.4km immersed tube – the deepest of its kind in the world at 56 metres – passes under the Bosphorus strait, the busy shipping channel linking the Marmara Sea to the Black Sea. A Japanese-Turkish consortium began constructing the tunnel in 2004, with funding coming from the Japan Bank for International Co-operation and the European Investment Bank." Continue reading →

Continue ReadingTurkish prime minister joins trial run through rail tunnel under Bosphorus

Israel’s Killer Robots

"Israel is the world's biggest exporter of military drones, used around the world for everything from surveillance to precision rocket attacks on speeding cars in remote locales. Israel's drone program hasn't stirred as much controversy as its American counterpart, but not because their targeted killings are any less fatal. VICE sent Simon Ostrovsky to a drone testing airfield in Israel to find out what their latest eye-in-the-sky can see." Continue reading →

Continue ReadingIsrael’s Killer Robots

When Did U.S. Start Warring in Yemen?

"Quick research suggests that Bush authorized making war in Yemen around November of 2002. That was the time of the first drone strike. Obama intensified the war in 2011, following up on his earlier intensification in 2009. Even a CFR publication by Micah Zenko (Reforming U.S. Drone Strike Policies) is highly critical of drone warfare and recognizes that retaliation grows and anti-U.S. groups enlarge as the U.S. increases its violence. Today’s headlines say that the recent 'terror' warning applies specifically to Yemen. The U.S. has advised Americans to leave Yemen. Bush escalated the fighting, although the U.S. was unsure who bombed the Cole." Continue reading →

Continue ReadingWhen Did U.S. Start Warring in Yemen?

Visitors flock to Pakistani-controlled Kashmir valley in rare tourist boom

"Success stories can be rare in Pakistan, but business is booming in one Kashmir tourist spot as the region rebuilds after a devastating earthquake and shrugs off associations with violence. Hundreds of thousands of Pakistani tourists drawn to the lakes and glaciers of the Neelum valley are injecting desperately needed money into one of the poorest parts of the country. With a new road built by the Chinese after the 2005 earthquake killed 73,000 people and a ceasefire holding with India, Pakistanis are discovering the snow-capped peaks, glaciers, lakes and lush-green meadows of the Neelum valley." Continue reading →

Continue ReadingVisitors flock to Pakistani-controlled Kashmir valley in rare tourist boom

Pakistan TV preacher defends Ramadan baby give-away

"A charismatic Muslim preacher criticised for giving out babies to childless couples live on prime-time Pakistani television denies he is crudely seeking top ratings. Aamir Liaqat Hussain spoke to AFP as a charity involved in the process said a third baby is due to be given away in the coming days. Hussain broadcasts a marathon 12-hour show each day during the holy month of Ramadan, watched by millions of viewers across the country. He mesmerises his audience with celebrity interviews, game shows, by providing in-studio meals to the needy — and, on two consecutive weeks, handing out baby girls to childless couples." Continue reading →

Continue ReadingPakistan TV preacher defends Ramadan baby give-away

Turkish court imprisons dozens over alleged ‘plot’ to overthrow government

"A Turkish court on Monday sentenced a former military chief to life in prison and dozens of others including opposition members of parliament to long terms for plotting against the government, in a trial that has exposed deep divisions in the country. Retired military chief of staff General Ilker Basbug was sentenced to life for his role in the 'Ergenekon' conspiracy to overthrow the government of Prime Minister Tayyip Erdogan. Announcing verdicts on the nearly 300 defendants in the case, the judges also sentenced three serving parliamentarians from the opposition Republican People’s Party (CHP) to between 12 and 35 years in prison." Continue reading →

Continue ReadingTurkish court imprisons dozens over alleged ‘plot’ to overthrow government