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Prime Minister Stephen Harper is among the world leaders meeting in Paris to hash out a strategy for winding down the NATO mission in Libya and building a roadmap for the post-Moammar Gadhafi era.
The Paris meeting is being held exactly 42 years to the day that Gadhafi seized power in a coup, the start of a decades-long reign in which he ruled with an iron fist, bankrolled acts of terror and managed to coax diplomatic relationships with Western countries that previously shunned him.
America's contribution to NATO's military budget - provided through the Department of the Army's Operations and Maintenance account - is under 23 percent. The U.S. contributed $408.051 million and $430.381 million, respectively, in FY2009 and FY2010, according to the Congressional Budget Service.
After the U.S., the largest contributors to NATO's military budget are Germany (16.6 percent); France (12.4 percent); United Kingdom (12 percent); Italy (7.8 percent); Canada (5 percent); Spain (4.2 percent); Netherlands (3.3 percent); Belgium (2.6 percent); Poland (2.3 percent); Turkey (1.8 percent); Denmark (1.7 percent); and Norway (1.6 percent). Fifteen countries make up the remaining 5.8 percent.
The U.S. contribution to NATO's Civil budget, provided through the State Department's Contributions to International Organizations, is approximately 21.7 percent, with payments of $66.1 million and $84.1 million, respectively, made In FY2009 and FY2010.
How about you defeat him first before you declare a victory march
The LIA, Libya's largest store of oil savings, controls about US$64 billion (Dh235.06bn) of assets. [color=limegreen]It owns 3 per cent of Pearson, the publisher of the Financial Times, and 7.5 per cent of Juventus Football Club, according to regulatory disclosures in November. It also has 2.6 per cent of UniCredit, one of Italy's largest banks, and 2 per cent of Finmeccanica, an Italian conglomerate.
Any freeze on those assets could further restrain the regime from using financial muscle to quash the popular uprising.
Pearson said yesterday the LIA's 3.27 per cent holding was "effectively frozen", as its lawyers advised that the shares were subject to UN and UK sanctions. The company has told the LIA that it "will not register any transfer or pay any dividend in respect of the shares until further notice".
Other government institutions also boast big foreign holdings. [color=limegreen]The Libyan central bank owns an additional 4 per cent of UniCredit, plus almost 60 per cent of Bahrain's Arab Banking Corporation (ABC) and 14.45 per cent of Arab Insurance Group in Bahrain. ABC said on Monday it had not been affected by the global asset freezes. World divided on what Libyan assets to freeze .. Mar 2, 2011
Welcome to ABC's home page
Who are we?
Arab Banking Corporation, popularly known as ABC, is an international Universal bank headquartered in Manama, Kingdom of Bahrain. Our network spreads over 22 countries in the MENA and GCC, Europe, the Americas and Asia.
ABC, founded in 1980, is listed on the Bahrain stock exchange and [color=limegreen]our major shareholders are the Central Bank of Libya and Kuwait Investment Authority.
ABC is a leader in Trade Finance, Treasury, Project & Structured Finance, Syndications, Corporate & Institutional Banking as well as Islamic Banking. We are also expanding our retail network in the MENA region.
ABC provides a full range of interest rate derivative products across all major rate indices (LIBOR, Treasuries etc). The basic products include:
Caps & Floors
Forward Rate Agreements
Cross Currency Swaps
Arab Banking Corp., the lender part- owned by the Central Bank of Libya, used a New York branch to get 73 loans from the U.S. Federal Reserve in the 18 months after Lehman Brothers Holdings Inc. collapsed.
The bank, then 29 percent-owned by the Libyan state, had aggregate borrowings in that period of $35 billion -- while the largest single loan amount outstanding was $1.2 billion in July 2009, according to Fed data released yesterday. In October 2008, when lending to financial institutions by the central bank’s so- called discount window peaked at $111 billion, Arab Banking took repeated loans totaling more than $2 billion.