Tag: Oman

China launches World Bank rival

China and India are backing a 21 country $100 billion Asian Infrastructure Investment Bank (AIIB) to challenge to the World Bank and Asian Development Bank.

Memorandum of understanding were signed with 21 Asian countries in Beijing Friday. Australia, Indonesia and South Korea were absent following hidden pressure from Washington.

The development bank was proposed a year ago by Chinese President Xi Jinping, and is to offer financing for infrastructure projects in underdeveloped Asian countries.

Headquartered in Beijing, former chairman of the China International Capital Corp investment bank Jim Liqun, is expected to take a leading role.

The bank will initially be capitalized with $50 billion, most of it contributed by China. The country is planning to increase authorized capital to $100 billion. With that amount the AIIB would be two-thirds the size of the $175 billion Asian Development Bank.

India will be the second largest bank shareholder though Kuwait, Qatar, Mongolia, Kazakhstan, Pakistan, Nepal, Oman, and all the countries of the Association of Southeast Asia, except Indonesia are involved.

Australia, Indonesia and South Korea did not participate following US claims of ‘concerns’ about a rival to Western-dominated multilateral lenders.

Japan, China’s main rival in Asia, which dominates the Asian Development Bank along with the United States, did not attend but had not been expected to do so.

Indonesia refused to participate claiming it needs time to discuss China’s proposal.

The Australian Financial Review said US Secretary of State John Kerry had personally asked Australian Prime Minister Tony Abbott to “steer clear” from joining AIIB.

“Australia has been under pressure from the US for some time to not become a founding member of the bank and it is understood Mr. Kerry put the case directly to the prime minister when the pair met in Jakarta on Monday following the inauguration of Indonesian President Joko Widodo,” the paper said.

South Korea, one of America’s closest allies in Asia, is also prevaricating. Its finance ministry said it spoke with China to request more time to consider details such as the AIIB’s governance and operational principles.

US officials have said they do not want to support an initiative Washington thinks is unlikely to promote good environmental, procurement and human rights standards in the way the World Bank and ADB are required to do.

But Chinese officials are convinced the American opposition is an attempt to contain the global rise of China and its ambition to remain the dominant power in Asia.

“You could think of this as a basketball game in which the US wants to set the duration of the game, the size of the court, the height of the basket and everything else to suit itself,” Wei Jianguo, a former Chinese commerce minister, told the Financial Times.

Matthew Goodman, scholar at the Center for Strategic and International Studies in Washington DC believes the initiatives of a BRICS Bank and AIIB “represent the first serious institutional challenge to the global economic order.”

Chinese Finance Minister Lou Jiwei said the AIIB will set high standards, safeguard policies and improve on bureaucratic, unrealistic and irrelevant policies, according to the Xinhua news agency.

Source: RT

Gulf states to introduce medical testing to detect gays

arabgaysBahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE already outlaw homosexuality, but are toughening their stance.

A medical test being developed by Kuwait will be used to detect homosexuals and prevent them from entering the country – or any of the Gulf Cooperation Countries (GCC), according to a Kuwaiti government official.

GCC member countries – Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the United Arab Emirates – already deem homosexual acts unlawful.

This stance is being toughened, according to Yousouf Mindkar, the director of public health at the Kuwaiti health ministry.

He told Kuwait newspaper Al Rai: ‘Health centres conduct the routine medical check to assess the health of the expatriates when they come into the GCC countries. However, we will take stricter measures that will help us detect gays who will be then barred from entering Kuwait or any of the GCC member states.’

Those taking part in homosexual acts in Kuwait, if they’re under 21, can receive a jail sentence of up to 10 years.

Earlier this month Oman newspaper The Week was suspended over an article that was deemed to be sympathetic to homosexuals, according to the BBC.

It’s illegal to be gay in 78 countries, with lesbianism banned in 49. Five countries mete out the death penalty to gay people – Iran, Saudi Arabia, Sudan, Yemen and Mauritania.

Iran: Since 1979, the government has executed more than 4,000 people charged with homosexual acts. A non-adult who engages in consensual sodomy is subject to a punishment of 74 lashes.

Saudi Arabia: Although the maximum punishment for homosexuality is execution, the government tends to use other punishments – such as fines, prison sentences, and whipping – unless it feels that homosexuals have challenged state authority by engaging in social movements.

Sudan: For homosexual men, lashes are given for the first offence, with the death penalty following the third offence. 100 lashes are given to unmarried women who engage in homosexual acts.For lesbian women, stoning and thousands of lashes are the penalty for the first offence. Today, the issue has divided some religious communities. In 2006, Abraham Mayom Athiaan, a bishop in South Sudan, led a split from the Episcopal Church of Sudan for what he regarded as a failure by the church leadership to condemn homosexuality sufficiently strongly.

Yemen: Homosexuality is still illegal in Yemen in accordance to the country’s Shari’ah legal system. Punishment ranges from flogging to death.

Mauritania: The Shari’a law applies in Mauritania. The penal code states that, since 1983,any adult Muslim caught engaging in an ‘unnatural act’ with a member of the same sex is punishable with the death sentence by public stoning.