Iraqi currency crash halts after meeting with U.S. official
BAGHDAD -
Iraq's currency ended its nosedive after a meeting between the Iraqi Central Bank head and a top U.S. Treasury official.
Under Secretary of the Treasury for terrorism and financial intelligence Brian E. Nelson said in a statement Saturday that he had met with Central Bank of Iraq Governor Ali al-Allaq in Istanbul the day before "to discuss banking sector reforms and a mutual commitment to anti-money laundering and countering the financing of terrorism."
He praised Iraq's "steadfast dedication" to improving its compliance with international standards and "offered continued co-operation in modernizing the banking sector," the statement said.
Measures taken by the United States in recent months to stamp out money laundering and the channelling of dollars to Iran and Syria from Iraq have severely restricted Iraq's access to hard currency.
Since the U.S. invasion of Iraq in 2003, Iraq's foreign currency reserves have been housed at the United States' Federal Reserve, giving the Americans significant control over Iraq's supply of dollars.
The Iraqi dinar slipped to around 1,750 to the dollar at street exchanges in some parts of the country on Thursday, compared to the official rate of 1,460 dinars for US$1. The devaluation has prompted protests and fears of inflation.
The currency began to halt its slide after Iraq's Central Bank said in a statement Friday evening that the Treasury had "expressed its readiness for the necessary flexibility to achieve common goals." As of Saturday, the dinar was trading at around 1,600 dinars to the dollar.
A delegation of Iraqi officials is set to travel to Washington next Friday.
CTVNews.ca Top Stories
Budget 2023 prioritizes pocketbook help and clean economy, deficit projected at $40.1B
In the 2023 federal budget, the government is unveiling continued deficit spending targeted at Canadians' pocketbooks, public health care and the clean economy.
Freeland's green economy spending aimed at competing with U.S. Inflation Reduction Act
Finance Minister Chrystia Freeland says clean energy and green technology spending may not have been the big-ticket items of the 2023 federal budget if it weren’t for the need to compete with infrastructure spending in the United States.
Federal government capping excise tax on alcohol after outcry
The increase in excise duties on all alcoholic products is being temporarily capped at two per cent starting next month instead of a planned 6.3 per cent increase.
opinion
opinion | The gun control debate in America has been silenced
In the wake of another deadly mass shooting in America, that saw children as young as nine years old shot and killed, the gun control debate is going nowhere, writes CTV News political analyst Eric Ham.
Kids would rather learn from smart robots than less-smart humans: new study
A new study published by Canadian researchers suggests that kindergarten-age children would rather be taught by a competent robot than an incompetent human.
Was Stonehenge a giant calendar? New research suggests maybe not
Stonehenge's purpose has long been a mystery, with some researchers proposing that it may have been an ancient solar calendar. But now, new analysis suggests the calendar theory is unsubstantiated.
Hamilton family raising awareness about Strep A after sudden death of toddler
A Hamilton, Ont., family is hoping to raise awareness about Strep A after the tragic death of their two-year-old.
Budget 2023 proposes across-the-board 3 per cent spending cut for government departments
The federal budget proposes an across-the-board three per cent spending cut for all departments and agencies, a belt-tightening move after years of massive growth in the federal public service.
Young children, the head of their school and its custodian. These are the victims of the Nashville school shooting
Another American community is reeling after a shooter killed three 9-year-olds and three adults at a private Christian elementary school in Nashville. These are the three children and three adults whose lives were taken by the shooter.
Canada
-
Police identify last two victims of Old Montreal fire, both 18 years old
Montreal police say they have identified two more victims found in the rubble of a fire in Old Montreal 12 days ago. Charlie Lacroix and Walid Belkahla, both 18, are the sixth and seventh victims of the fire.
-
'It's really sad': Neighbour describes chaotic scene after Calgary house explosion
Rima Rifai thought her furnace had exploded Monday when the house across the street burst into a ball of fire, sending 10 people to hospital with serious injuries.
-
N.B. residents suffering from mystery brain disease call for fresh investigations
New Brunswickers suffering from a mystery neurological disorder are calling for an investigation into potential environmental causes of the health problems they've been living with for more than two years.
-
Bust of Mahatma Gandhi beheaded on B.C. university campus
Authorities are asking witnesses to come forward after security at Simon Fraser University discovered the head of the school's Mahatma Gandhi bust had been removed.
-
Asylum seekers in Atlantic Canada struggle to obtain legal counsel
An influx of asylum seekers into Canada via unofficial border crossings has prompted the federal government to relocate refugees from Quebec as far as Atlantic provinces, some more than 1,000 kilometres (621 miles) away, and hire a risk mitigation company to deal with the record surge.
-
Budget 2023 proposes across-the-board 3 per cent spending cut for government departments
The federal budget proposes an across-the-board three per cent spending cut for all departments and agencies, a belt-tightening move after years of massive growth in the federal public service.
World
-
Israel's Netanyahu: Mossad helped Greece uncover terror plot
Israel's Prime Minister Benjamin Netanyahu late Tuesday said his country's intelligence agency Mossad helped Greece prevent a terrorist attack planned against at least one Jewish site in Athens.
-
Young children, the head of their school and its custodian. These are the victims of the Nashville school shooting
Another American community is reeling after a shooter killed three 9-year-olds and three adults at a private Christian elementary school in Nashville. These are the three children and three adults whose lives were taken by the shooter.
-
Brazil hits 700,000 virus deaths, 2nd highest in the world
Brazil's government on Tuesday reported the 700,000th death from COVID-19 in the South American nation, which has the second most victims of the virus after the United States.
-
Nashville police release chilling security camera footage of suspected school shooter
Nashville police have released security camera footage of a suspected shooter entering the private Christian elementary school. The shooting claimed the lives of three children, all aged nine, and three adults.
-
Ex-Californian sentenced for child mutilation-sex scheme
A former Southern California man who convinced troubled girls as young as 12 to perform masochistic acts and urged one to become his sex slave was sentenced Tuesday to 27 years in U.S. federal prison.
-
Three dead, 13 missing in Caribbean sinking; 14 Africans saved
At least 14 people from the African nation of Cameroon were rescued from waters in the eastern Caribbean early Tuesday after their boat capsized, but three people were dead and 13 others missing, authorities on Antigua said.
Politics
-
Budget 2023 prioritizes pocketbook help and clean economy, deficit projected at $40.1B
In the 2023 federal budget, the government is unveiling continued deficit spending targeted at Canadians' pocketbooks, public health care and the clean economy.
-
Freeland's green economy spending aimed at competing with U.S. Inflation Reduction Act
Finance Minister Chrystia Freeland says clean energy and green technology spending may not have been the big-ticket items of the 2023 federal budget if it weren’t for the need to compete with infrastructure spending in the United States.
-
Budget 2023 proposes across-the-board 3 per cent spending cut for government departments
The federal budget proposes an across-the-board three per cent spending cut for all departments and agencies, a belt-tightening move after years of massive growth in the federal public service.
Health
-
For the first time in years, researchers have identified a new susceptibility gene for breast cancer: study
A new gene connected to hereditary breast cancer susceptibility has been identified in what researchers are calling a landmark study.
-
Hamilton family raising awareness about Strep A after sudden death of toddler
A Hamilton, Ont., family is hoping to raise awareness about Strep A after the tragic death of their two-year-old.
-
Health-care professionals fight decision to reject access to psilocybin for training
Canada violated the rights of hundreds of patients awaiting access to psilocybin-assisted psychotherapy when it rejected applications from health-care professionals to consume the restricted drug for training purposes, a lawyer for the workers argued in Federal Court on Tuesday.
Sci-Tech
-
Kids would rather learn from smart robots than less-smart humans: new study
A new study published by Canadian researchers suggests that kindergarten-age children would rather be taught by a competent robot than an incompetent human.
-
Could Canada soon standardize USB chargers? Feds looking into it, budget says
Tucked into the 2023 federal budget unveiled on Tuesday in Ottawa, the Liberals have announced plans to explore implementing a standard charging port across Canada, in an effort to save Canadians some money and reduce waste.
-
New source of water found in moon samples from China mission
Scientists have discovered a new and renewable source of water on the moon for future explorers in lunar samples from a Chinese mission.
Entertainment
-
Feel the Force: Hamill carries 'Star Wars' voice to Ukraine
It's a surreal moment in an already surreal war: the grave but calming baritone of actor Mark Hamill, Luke Skywalker of 'Star Wars,' urging people to take cover whenever Russia unleashes another aerial bombardment on Ukraine.
-
Angelique Kidjo, Chris Blackwell, Arvo Part awarded Sweden's Polar Music Prize
Five-time Grammy Award winner Angelique Kidjo, Island Records founder Chris Blackwell and Estonian composer Arvo Part have won the 2023 Polar Music Prize, a Swedish music award.
-
Prince Harry returns to court in tabloid phone hacking case
Prince Harry returned to a London court Tuesday for a second day of hearings to see if the phone hacking lawsuit he brought with Elton John and other celebrities can withstand a challenge from the publisher of The Daily Mail.
Business
-
Federal government outlines $83B in clean economy tax credits in bid to compete with U.S. incentives
Serious money is heading for Canadian industries looking to reduce emissions after the federal government unveiled its answer to the U.S. Inflation Reduction Act.
-
Some Flair customers say they're owed more after plane seizures, flight cancellations
Flair Airlines said Monday it has reimbursed virtually all 1,900 passengers whose flights were cancelled after the seizure of four of the carrier's planes earlier this month, but some customers say they are owed more money.
-
S&P/TSX composite posts small gain, U.S. markets slightly down
Canada's main stock index eked out a small gain Tuesday thanks to strength in the energy sector, while U.S. markets were slightly down.
Lifestyle
-
71-year-old Canadian woman runs every single day for more than 1,000 days
It may seem improbable - even impossible to some - but each day for the last three years, a 71-year-old Toronto woman has laced up her shoes, put one foot in front of the other, and headed out for a run
-
'Be myself': Growing training spaces for trans and non-binary fitness
Alex Jung found his way back to the water in 2018 and began instructing other trans swimmers. But, he says, it was a 'challenging pursuit' without a community. Now creating that sense of support is becoming more mainstream at local fitness centres.
-
'It was my responsibility': Manitoba girl saves siblings from destructive house fire
A 12-year-old Manitoba girl is being hailed a hero after saving her two younger brothers from a house fire.
Sports
-
Aaron Hernandez's brother arrested over signed note, brick thrown at ESPN building: police
The brother of the late New England Patriots player Aaron Hernandez is facing criminal and motor vehicle charges in Connecticut, accused of throwing a brick onto the ESPN headquarters campus and eluding police during brief pursuits in other towns.
-
MLB free agent watch: Ohtani leads possible 2023-24 class
Shohei Ohtani is among several players going into their final seasons before they are eligible for free agency. There is still time for signatures and press conferences before opening day, but history shows a new contract becomes less likely once the real games begin.
-
Athlete tells parliamentary committee Gymnastics Canada's handling of abuse broke him
A gymnast says he was abused in his sport and then broken by a Canadian system that failed to address that abuse.
Autos
-
U.S. opens investigation into Tesla seat belts coming loose
U.S. highway safety regulators have opened yet another investigation into problems with Teslas, this time tied to complaints that the seat belts may not hold people in a crash.
-
New California gas price law another defeat for oil industry
California lawmakers on Monday approved the nation's first penalty for price gouging at the pump, voting to give regulators the power to punish oil companies for profiting from the type of gas price spikes that plagued the nation's most populous state last summer.
-
Formula Equal: Inside the plans to launch a '50 per cent male, 50 per cent female' F1 team
Craig Pollock's latest project, Formula Equal, would be the first team in the sport that's 50 per cent men and 50 per cent women, he says, with that equal split applying across the whole organization -- from the cockpit to the engineers to the boardroom.
