Latest news with #reconstruction
Japan Times
4 hours ago
- Business
- Japan Times
¥1.9 trillion over five years eyed for 2011 tsunami reconstruction
Japan adopted a new basic policy on Friday for reconstruction after the March 2011 earthquake and tsunami, expecting projects worth ¥1.9 trillion for the next five years from fiscal 2026. The amount tops ¥1.6 trillion for the five years through fiscal 2025, which ends in March. Under the basic policy, the government will tackle such issues as the final disposal of soil removed during radiation decontamination after the nuclear accident at Tokyo Electric Power Company Holdings' Fukushima No. 1 power plant. The government will also promote the return of evacuees to their homes in areas affected by the radiation from the nuclear accident. "With a strong determination to resolve problems for reconstruction within the next five years, all the cabinet members will accelerate reconstruction efforts further, staying considerate to those in affected areas," Prime Minister Shigeru Ishiba told a meeting of the government's council for reconstruction from the disaster. The basic policy calls for studying the idea of allowing forest management and some other activities in areas where entry is heavily restricted due to the radiation from the nuclear accident. The government will also promote the use of soil collected during decontamination work in public works projects and continue to financially support disaster-affected municipalities with special grants. Of the ¥1.9 trillion projected for the next five years, ¥1.6 trillion will go to reconstruction efforts in Fukushima Prefecture, devastated by the Tepco accident on top of the quake and tsunami. The tsunami-hit prefectures of Iwate and Miyagi will each secure some ¥100 billion.
Free Malaysia Today
12 hours ago
- Business
- Free Malaysia Today
Syria expects first transfer with US bank ‘within weeks', says governor
The Syrian central bank has extended a formal invitation to US banks to re-establish correspondent banking ties. (EPA Images pic) DAMASCUS : Syria expects to have its first transaction with a US bank 'in a matter of weeks', Syrian central bank governor Abdelkader Husriyeh said today, a day after a high-level meeting between Syrian and US commercial banks. The resumption of transfers between Syrian and US banks would be a key milestone in the push by Syria's new rulers to reintegrate the country into the global financial system after 14 years of civil war. Yesterday, Husriyeh held a virtual conference bringing together Syrian banks, several US banks and US officials, including Washington's Syria envoy Thomas Barrack, with the aim of speeding up the reconnection of Syria's banking system to the global financial system. This follows US President Donald Trump's announcement in May that all sanctions on Syria would be lifted. That has been followed up with executive orders formally lifting some of the measures. Syria's reintegration into the global financial system would be a major step towards enabling the kind of large financial transactions needed to kickstart its reconstruction and economic activity, and help rein in a highly informal, cash-based economy. Husriyeh extended a formal invitation to US banks to re-establish correspondent banking ties following the ouster of former Syrian strongman Bashar al-Assad, whose crackdown on 2011 protests resulted in Western countries imposing one of the world's strictest sanctions regimes. 'We have two clear targets: have US banks set up representative offices in Syria and have transactions resume between Syrian and American banks. 'I think the latter can happen in a matter of weeks,' Husriyeh told Reuters. Among the banks invited to yesterday's conference were JP Morgan, Morgan Stanley and CitiBank, though it was not immediately clear who attended.
LBCI
17 hours ago
- Politics
- LBCI
Prominent Tel Aviv tower faces possible demolition after Iranian missile strike, LBCI correspondent Amal Shehadeh says
LBCI correspondent in Haifa, Amal Shehadeh, reported that one of Tel Aviv's tallest and most prominent towers may face demolition and reconstruction after being hit by an Iranian missile.
Arab News
a day ago
- Business
- Arab News
Syria completes first global SWIFT transfer since war
DAMASCUS: Syrian Arab Republic has carried out its first international bank transaction via the SWIFT system since the outbreak of its 14-year civil war, its central bank governor said on Thursday, a milestone in the country's push to reintegrate into the global financial system. Abdelkader Husriyeh told Reuters in Damascus that a direct commercial transaction had been carried out from a Syrian to an Italian bank on Sunday, and that transactions with US banks could begin within weeks. 'The door is now open to more such transactions,' he said. Syrian banks were largely cut off from the world during the civil war after a crackdown by Bashar Assad on anti-government protests in 2011 led Western states to impose sanctions, including on Syria's central bank. Assad was ousted as president in a lightning offensive by rebels last year and Syria has since taken steps to re-establish international ties, culminating in a May meeting between interim President Ahmed Al-Sharaa and US President Donald Trump in Riyadh. The US then significantly eased its sanctions and some in Congress are pushing for them to be totally repealed. Europe has announced the end of its economic sanctions regime. Syria needs to make transfers with Western financial institutions in order to bring in huge sums for reconstruction and to kickstart a war-ravaged economy that has left nine out of 10 people poor, according to the UN. Husriyeh chaired a high-level virtual meeting on Wednesday bringing together Syrian banks, several US banks and US officials, including Washington's Syria envoy Thomas Barrack. The aim of the meeting was to accelerate the reconnection of Syria's banking system to the global financial system and Husriyeh extended a formal invitation to US banks to re-establish correspondent banking ties. 'We have two clear targets: have US banks set up representative offices in Syria and have transactions resume between Syrian and American banks. I think the latter can happen in a matter of weeks,' Husriyeh told Reuters. Among the banks invited to Wednesday's conference were JP Morgan, Morgan Stanley and Citibank, though it was not immediately clear who attended.
Al Arabiya
a day ago
- Business
- Al Arabiya
Syria expects first transfer with US bank ‘within weeks': Governor
Syria expects to have its first transaction with a US bank 'in a matter of weeks', Syrian central bank governor Abdelkader Husriyeh said on Thursday, a day after a high-level meeting between Syrian and US commercial banks. The resumption of transfers between Syrian and US banks would be a key milestone in the push by Syria's new rulers to reintegrate the country into the global financial system after 14 years of civil war. Husriyeh on Wednesday held a virtual conference bringing together Syrian banks, several US banks and US officials, including Washington's Syria Envoy Thomas Barrack, with the aim of speeding up the reconnection of Syria's banking system to the global financial system. This follows US President Donald Trump's announcement in May that all sanctions on Syria would be lifted. That has been followed up with executive orders formally lifting some of the measures. Syria's reintegration into the global financial system would be a major step towards enabling the kind of large financial transactions needed to kickstart its reconstruction and economic activity, and help rein in a highly informal, cash-based economy. Husriyeh extended a formal invitation to US banks to re-establish correspondent banking ties following the ouster of former Syrian strongman Bashar al-Assad, whose crackdown on 2011 protests resulted in Western countries imposing one of the world's strictest sanctions regimes. 'We have two clear targets: have US banks set up representative offices in Syria and have transactions resume between Syrian and American banks. I think the latter can happen in a matter of weeks,' Husriyeh told Reuters. Among the banks invited to Wednesday's conference were JP Morgan, Morgan Stanley and CitiBank, though it was not immediately clear who attended.
