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
'I'm a Canadian': MP named in foreign interference report speaks out, refutes claims
The Liberal MP who allegedly benefitted from Chinese election interference is speaking out against the report, categorically stating the foreign government did not help him in his nomination campaign.
Uber says Ottawa has the worst passengers in Canada
According to new data released by Uber on Tuesday, Ottawa has the worst average rider rating in the country, followed by Toronto and Montreal.
Researchers have created a way to cloak artwork so that it can’t be used to train AI
Researchers at the University of Chicago have made a tool called Glaze which, once applied to a piece of artwork, means that artwork can’t be read and reproduced by AI tools that scrape art online to replicate their style.
So many doctors are being driven away by Idaho abortion ban that this hospital can’t deliver babies anymore
An Idaho hospital has announced that it will no longer be able to deliver babies because the state’s near-total abortion ban — one of the most extreme in the U.S. — has driven so many doctors away.
'A very, very difficult odour': Senate adjourns early after foul smell in the building disrupts proceedings
The Senate adjourned early on Tuesday afternoon after a foul smell in the building caused headaches in the chamber and disrupted proceedings.
Nordstrom liquidation sales underwhelm Canadians as most items marked down 5 per cent
The first day of Nordstrom's liquidation sale began on Tuesday, but some shoppers walked away underwhelmed, as most items were only marked down five per cent.
Second body recovered from Old Montreal building destroyed by fire
Montreal police confirmed Tuesday evening that a second body has been recovered from the building in Old Montreal that was destroyed by a fire last week.
Trump's potential indictment caps decades of legal scrutiny
For 40 years, former President Donald Trump has navigated countless legal investigations without ever facing criminal charges. That record may soon come to an end.
Via Rail apologizes after Muslim man told not to pray at Ottawa train station
Via Rail is apologizing after a Muslim man was told he couldn't pray at the Ottawa train station.
Canada
-
Second body recovered from Old Montreal building destroyed by fire
Montreal police confirmed Tuesday evening that a second body has been recovered from the building in Old Montreal that was destroyed by a fire last week.
-
Uber says Ottawa has the worst passengers in Canada
According to new data released by Uber on Tuesday, Ottawa has the worst average rider rating in the country, followed by Toronto and Montreal.
-
N.W.T. diamond mine reports spill of 450 million litres of wastewater
The Diavik Diamond Mine in the Northwest Territories says 450 million litres of wastewater spilled due to a broken pipeline.
-
Military expecting to save $30M per year with targeted housing benefit for troops
The Canadian Armed Forces is rolling out a new housing benefit that a senior commander says will better help troops struggling to find affordable accommodations while saving millions of dollars every year.
-
Via Rail apologizes after Muslim man told not to pray at Ottawa train station
Via Rail is apologizing after a Muslim man was told he couldn't pray at the Ottawa train station.
-
Adviser on unmarked graves says some landowners are refusing access for searches
As some private landowners restrict residential school survivors from performing ceremony or searching their properties for possible unmarked graves, a federal minister says Ottawa is open to legislating new protections for the possible burial sites.
World
-
Trump's potential indictment caps decades of legal scrutiny
For 40 years, former President Donald Trump has navigated countless legal investigations without ever facing criminal charges. That record may soon come to an end.
-
Israel repeals 2005 act on West Bank settlement pullout
Israeli lawmakers on Tuesday repealed a 2005 act that saw four Jewish settlements in the occupied West Bank dismantled at the same time as Israeli forces withdrew from the Gaza Strip.
-
Japan's PM offers Ukraine support as China's Xi backs Russia
Prime Minister Fumio Kishida made a surprise visit Tuesday to Kyiv, engaging in duelling diplomacy with Asian rival President Xi Jinping of China, who met in Moscow with Russian President Vladimir Putin to promote Beijing's peace proposal for Ukraine that Western nations have all but dismissed as a non-starter.
-
26 per cent of world lacks clean drinking water, 46 per cent sanitation: UN report
A new report launched Tuesday on the eve of the first major UN conference on water in over 45 years says 26 per cent of the world's population doesn't have access to safe drinking water and 46 per cent lack access to basic sanitation.
-
So many doctors are being driven away by Idaho abortion ban that this hospital can’t deliver babies anymore
An Idaho hospital has announced that it will no longer be able to deliver babies because the state’s near-total abortion ban — one of the most extreme in the U.S. — has driven so many doctors away.
-
Ukraine, Russia trade claims after blast rocks Crimean town
Russian and Ukrainian officials on Tuesday gave conflicting accounts of what appeared to be a brazen attack on Russian cruise missiles being transported by train in the occupied Ukrainian Crimean Peninsula.
Politics
-
'I'm a Canadian': MP named in foreign interference report speaks out, refutes claims
The Liberal MP who allegedly benefitted from Chinese election interference is speaking out against the report, categorically stating the foreign government did not help him in his nomination campaign.
-
Trudeau's top aide Telford to testify, amid Hill drama over foreign interference
After weeks of resistance, and ahead of a vote that could have compelled it to happen, Prime Minister Justin Trudeau’s office announced Tuesday that his chief of staff Katie Telford will testify about foreign election interference, before a committee that has been studying the issue for months.
-
Johnston's mandate as special rapporteur on foreign interference has been released
Prime Minister Justin Trudeau has released foreign interference special rapporteur David Johnston's mandate, which instructs the former governor general to determine by May 23 whether a public inquiry is necessary.
Health
-
Superbug fungus cases in U.S. rose dramatically during pandemic
U.S. cases of the dangerous fungus Candida auris tripled over just three years, and researchers at the Centers for Disease Control and Prevention say the COVID-19 pandemic is likely partly to blame. More than half of states have now reported it, according to a new study.
-
Ikea Canada recalls fishing game set over potential choking hazard
Ikea Canada is recalling a children’s fishing game set, saying the product may pose a choking hazard.
-
Report calls for restricting marketing to kids in grocery stores, restaurants
A new report that looks at the prevalence of marketing to children inside grocery stores and restaurants suggests regulation is needed to help reduce unhealthy food temptations.
Sci-Tech
-
TikTok updates content rulebook as pressure from West builds
TikTok went on a counteroffensive Tuesday amid increasing Western pressure over cybersecurity and misinformation concerns, rolling out updated rules and standards for content as its CEO warned against a possible U.S. ban on the Chinese-owned video sharing app.
-
Researchers have created a way to cloak artwork so that it can’t be used to train AI
Researchers at the University of Chicago have made a tool called Glaze which, once applied to a piece of artwork, means that artwork can’t be read and reproduced by AI tools that scrape art online to replicate their style.
-
Soak up the sun: Dalhousie engineers build Atlantic Canada's 1st solar-powered car
Engineering students at Halifax’s Dalhousie University are getting ready to debut a solar car of their own design at an international competition.
Entertainment
-
Def Leppard drummer recovering from attack outside hotel
Def Leppard drummer Rick Allen says he recovering from an attack earlier this month outside a Florida hotel.
-
Gwyneth Paltrow's lawyer calls Utah ski collision story 'BS' at trial
Gwyneth Paltrow's lawyer called the story of a retired optometrist who is suing her over a 2016 ski collision 'utter B.S.' on Tuesday during the trial's opening day in Utah, where the actor-turned-lifestyle influencer appeared in court, and tried to shield herself from photographers' view with a notebook.
-
'John Wick' stars honour late co-star Lance Reddick
Keanu Reeves and Laurence Fishburne were among the 'John Wick: Chapter 4' stars honouring Lance Reddick, their co-star who died unexpectedly last week, at the film's Los Angeles premiere.
Business
-
Federal minimum wage rising to $16.65 per hour on April 1
The federal minimum wage is rising to $16.65 per hour on April 1, up from $15.55.
-
These foods cost more in Canada, despite inflation rate slowdown
Overall inflation in Canada is cooling, according to just-released data, but the trend is not being reflected at grocery stores, where prices for some items continue to grow.
-
Nordstrom liquidation sales underwhelm Canadians as most items marked down 5 per cent
The first day of Nordstrom's liquidation sale began on Tuesday, but some shoppers walked away underwhelmed, as most items were only marked down five per cent.
Lifestyle
-
Toronto family showcases five-year-old daughter's artwork on World Down Syndrome Day
A dozen hand-drawn, and sometimes abstract, pieces of art are on display in west-end Toronto. The gallery debut is a major upgrade for the artist -- whose usual canvases include her parent’s hallways and refrigerator.
-
Kitchen renovation unearths paintings nearly 400 years old
Murals believed to be nearly 400 years old have been discovered at an apartment in northern England following a kitchen renovation.
-
Researchers have created a way to cloak artwork so that it can’t be used to train AI
Researchers at the University of Chicago have made a tool called Glaze which, once applied to a piece of artwork, means that artwork can’t be read and reproduced by AI tools that scrape art online to replicate their style.
Sports
-
Willis Reed, leader on Knicks' 2 title teams, dies at 80
Willis Reed, who dramatically emerged from the locker room minutes before Game 7 of the 1970 NBA Finals to spark the New York Knicks to their first championship and create one of sports' most enduring examples of playing through pain, died Tuesday. He was 80.
-
Undefeated Switzerland edges Canada 7-6 at world women's curling championship
Three-time defending champion Switzerland remained undefeated at the women's world curling championship with a 7-6 win over Canada in Tuesday's afternoon draw.
-
Women's Sweet 16 features new format and historic field
The NCAA changed its setup for the women's tournament this season, trimming the traditional four regional sites to two. Seattle and Greenville -- a city of 71,000 in South Carolina about halfway between Atlanta and Charlotte, North Carolina -- will each host eight teams before sending the winners on to Dallas for the Final Four.
Autos
-
U.S. probes reports of steering glitch on 2022, 2023 Honda Civics
U.S. auto safety regulators are investigating complaints from Honda Civic drivers that their steering can stick, causing a momentary increase in effort and increasing the risk of a crash.
-
Last call: Dodge unveils last super-fast gasoline muscle car
The 2023 Challenger SRT Demon 170 will deliver 1,025 horsepower from its 6.2-litre supercharged V-8, and the automaker says it will be the quickest production car made.
-
Ontario man fails driving test, almost hits 4 people with vehicle before doing burnouts in parking lot: Police
Police in Guelph, Ont. have charged a man who they say failed a driving test before driving off and nearly hitting four people with his vehicle and then deciding to do burnouts in a parking lot.
