Word: banking
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...presented in incredible density: from Victoria Peak, you can see just how impossibly tiny the Hong Kong Island urban jungle is. Central's twinkling strip of tenements and skyscrapers line one bank of Victoria Bay while Tsim Sha Tsui, on the far side, is Central's equally slender but less dramatic companion. The manmade portion of Hong Kong is merely two shimmering halves of a wafer-thin cookie engulfed in mountains of green...
...late-July bombing that left five Hamas members and one child dead. Hamas retaliated, and in the ensuing violence, more than 180 people--many of them clan members--fled over the border into Israel, where they received brief asylum. They were initially refused entry into the Fatah-controlled West Bank because of Abbas' suspicions about clan members with Hamas ties. After negotiations between Abbas and Israel, however, many were eventually...
...almost entirely from oil. Between $67 another $79 billion in oil revenues is projected for Iraq in 2008 with prices remaining at record levels on the world market. That leaves the Iraqi government with a budget surplus this year of roughly $50 billion, which is managed by the Central Bank of Iraq along with the country's other revenues. Yet Iraq has spent only a fraction of its own money on reconstruction. The GAO report found that the Iraqi government spent just $12.2 billion of its capital investment budget in 2007. Iraqi central ministries spent only 11% of their capital...
...disposal to fund large-scale reconstruction projects. It is inexcusable for U.S taxpayers to continue to foot the bill for projects the Iraqis are fully capable of funding themselves," said Levin. "We should not be paying for Iraqi projects, while Iraqi oil revenues continue to pile up in the bank including outrageous profits from $4 a gallon gas prices in the U.S. We should require that U.S. taxpayers be reimbursed for the cost of large projects...
While some of Iraq's surplus funds sit in U.S. accounts, no Iraqi officials reached by TIME expressed any concern that they would be able to access the money. All the funds are managed by the Central Bank of Iraq and spent on government orders. Iraqi officials say continuing violence has undoubtedly hindered the rebuilding. A shortage of skilled officials in key ministries and anti-corruption safeguards have also slowed Iraqi reconstruction initiatives, U.S. and Iraqi officials...