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Once hailed as a model of stability, during the first decade of the twenty-first century Ivory Coast slipped into the kind of internal strife that has plagued so many African countries.

This theme was also adopted by Mr Guei, who had Alassane Ouattara banned from the presidential election in 2000 because of his foreign parentage, and by the only serious contender allowed to run against Mr Guei, Laurent Gbagbo.

When Mr Gbagbo replaced Robert Guei after he was deposed in a popular uprising in 2000, violence replaced xenophobia. Scores of Mr Ouattara's supporters were killed after their leader called for new elections.

In September 2002 a troop mutiny escalated into a full-scale rebellion, voicing the ongoing discontent of northern Muslims who felt they were being discriminated against in Ivorian politics. Thousands were killed in the conflict.

Although most of the fighting ended in 2004, Ivory Coast remained tense and divided. French and UN peacekeepers patrolled the buffer zone which separated the north, held by rebels known as the New Forces, and the government-controlled south.

After repeated delays, elections aimed at ending the conflict were finally held in October 2010. But the vote ushered in more unrest when the incumbent, Laurent Gbagbo, refused to concede victory to the internationally recognised winner, Alassane Ouattara.

The ensuing four-month stand-off was only ended when Mr Ouattara's forces overran the south of the country, finally capturing Mr Gbagbo and declaring him deposed. In November 2011, Mr Gbagbo was transferred to The Hague to stand trial at the International Criminal Court on charges of crimes against humanity.

Officials have blamed several security incidents since then on disgruntled supporters of Mr Gbagbo.

Union Construction and Investment (UCI) launched the opening of a new TABO branch in Jerusalem, near the Old City. TABO is one of UCI’s largest and most prominent projects.

Mr. Khaled Al Sabawi, UCI General Manager, attended the opening along with UCI executive management, sales representatives and a crowd of people interested in knowing more about the project and potentially become TABO customers.

Additionally, a wide range of media and journalists attended the opening event, which lasted for an entire week in UCI’s new TABO branch located in Al-Afahani street, in the Old City of Jerusalem.

Mr. Al Sabawi emphasized on the importance of this step towards achieving the project’s goals in implementing its strategic plan that aims at expanding and promoting TABO on a local and international level, in order to ultimately realize the Palestinian dream of owning a parcellized, registered piece of land in Palestine.

Moreover, this step aims at meeting the increasing demand of our TABO customers, through providing unprecedented facilities including easy payment methods, through financing directly with UCI, and following up on all legal procedures to register the land at all official and governmental departments, up to the point of delivering the title deed to the customer in their name, without any hassle for the customer.

Mr. Al Sabawi also indicated that the opening of this branch will serve as a link between UCI and its customers, as well as those interested in the project in the Jerusalem area. The branch will facilitate the introduction of the project, through a dedicated sales staff with a wide experience in the real estate sector.

Additionally, Mr. Al Sabawi confirmed that the opening a new branch in vital areas, such as the city of Jerusalem, known for their investment, trade and national status, will definitely attract new segments of customers as well as contribute to strengthening communication with the people of Jerusalem.

During the opening event, Mr. Al Sabawi presented the most prominent achievements of UCI since the launching of its TABO project, which culminated in the completion of registering hundreds of dunums of land in Ramallah and Salfit districts, and issuing new title deeds delivered to TABO customers. It is worth noting that UCI issued the-first-ever title deeds in the history of Farkha and Broqeen towns in the Salfit District.

Finally, Mr. Al Sabawi explained the efforts invested by UCI to develop these lands, through building three model homes in Farkha and Broqeen, Salfit District, and in Kufr Ein, Ramallah and Al Bireh District. Additionally, UCI has implemented excavation and paving works for the internal roads in Kobar (B) and Qarawa in Ramallah and Al Bireh Districts, as part of the company’s vision to fully develop land in these areas, despite the fact that infrastructure services must be provided by the Palestinian government.

WASHINGTON (Reuters) – Turkish Prime Minister Tayyip Erdogan said on Friday Turkey had already significantly reduced its oil imports from Iran, which is under the choke of Western sanctions, and further cutbacks would depend on his country’s energy needs.

“On crude oil, there has been a significant decrease in the amount of oil we import from Iran … As to whether we would cut back any further, it will depend on our need. Time will tell,” Erdogan said at the Brookings Institution in Washington.

Last year, Ankara effectively halved imports of Iranian oil after a European Union oil embargo against Iran came into full force on July 1, which also targeted the marine insurance sector, cutting off the usual avenues for tanker insurance.

Turkey was twice granted a waiver on Iranian oil by the United States for 180 days after it made initial cuts.

Turkish imports of Iranian crude were steady in April at around 100,000 barrels per day, data from a well-informed shipping agent in the region showed two weeks ago.

Before the introduction of stricter U.S. and EU sanctions against Iran last year, imposed over Tehran’s disputed nuclear program, Ankara’s purchases were averaging 180,000 bpd.

Turkey nonetheless remains one of the largest customers for Iranian oil together with Asian buyers such as China, India, South Korea and Japan.

(Reporting by Nick Tattersall; Editing by Doina Chiacu)

* Fund’s 10.1 pct investment return takes assets to C$183.3
billion

* Sees opportunities in global infrastructure, private
equity

* Says scale, sophistication will win deals rivals can’t
handle

By Andrea Hopkins

TORONTO, May 16 (Reuters) – The Canada Pension Plan
Investment Board, one of the world’s biggest dealmakers, said a
glut of cheap capital may mean it makes fewer big purchases in
2014, but it sees big opportunities in global infrastructure and
private equity in the months ahead.

CPPIB, which manages Canada’s national pension fund, said on
Thursday its assets rose to a record C$183.3 billion ($180.12
billion) at the end of fiscal 2013, as its investment portfolio
returned 10.1 percent for the year ended March 31.

Chief Executive Mark Wiseman said CPPIB may be slightly less
active in dealmaking in the coming year because there is a lot
of capital flowing globally and prices are up, but he said the
fund will use its scale and long investment horizon to win deals
that are too big and complex for competitors.

“The reality is today there is a lot of capital, and assets
are fairly priced, and so we’re being patient,” Wiseman told
Reuters following the release of the fund manager’s fiscal 2013
results. “But that doesn’t mean that there are not opportunities
out there.”

The fund struck 87 global deals – many as part of a
consortium – in fiscal 2013, including 36 deals worth more than
C$200 million.

The year’s big deals included the purchase of a stake in
motorcycle grand prix organiser Dorna, the financing of a loan
to Formula One Group, the investment in Australian shopping
malls and an expansion of its warehouse portfolio in Brazil with
Singapore-based Global Logistic Properties.

Wiseman said he expects another interesting year in global
infrastructure and private equity.

“We’re looking at a number of opportunities on a global
basis around infrastructure – actually, I think at present we
are looking at opportunities in infrastructure on three
continents,” he said.

“On the private equity side … this is going to be a period
of time when private equity firms are selling assets, either by
IPOs or to strategic buyers, other private equity firms. But
again, we do believe we’ll find selective opportunities in this
market.”

It was the seventh year of the fund manager’s shift to an
active investment strategy. It is seeking to boost returns on
its massive portfolio by buying real estate, infrastructure and
other assets around the world, while providing both private
equity and credit to partners looking for cash.

Wiseman stressed the fund’s long-term investment horizon,
saying its stability and “patient capital” makes it an
attractive partner in a world dominated by short-term thinking.

“For us, a ‘quarter’ is 25 years, not 90 days,” Wiseman told
reporters.

Efforts to diversify the portfolio have boosted foreign
assets to 63.3 percent of the portfolio, while Canadian assets
make up 36.7 percent of the book.

The 10.1 percent 2013 investment gain was up from 6.6
percent a year earlier and its fourth straight gain after the
fund manager suffered losses in 2008 and 2009. It boosted the
10-year annualized nominal rate of return to 7.4 percent.

CPPIB invests on behalf of 18 million Canadian contributors
and beneficiaries, and still has about eight years before
benefits paid exceed contributions and investment income will be
needed to help pay pensions, in 2021.

Since 2007, CPPIB has increased staff from 154 to 906 -
including 51 employees in London and 32 in Hong Kong – and
ratcheted up its holdings in private market investments in a bid
to outpace financial market returns offered by stocks and bonds.

Wiseman said the staff count would continue to grow and
diversify in geographical expertise, but at a slower pace than
in past years.

Investment returns were led by a 16.8 percent gain in
private foreign developed-market equities, a 13.2 percent rise
in public foreign developed-market equities, a 9.2 percent gain
in real estate, and an 8.8 percent gain in infrastructure.

Weaker parts of the portfolio included investments in
Canadian public equities, which returned 4.2 percent, Canadian
private equities, which returned 3.4 percent, public
emerging-market equities, which returned 2.4 percent, and
inflation-linked bonds, which returned 3.0 percent.

The Netherlands' name reflects its low-lying topography, with more than a quarter of its total area under sea level.

After a longstanding policy of neutrality between Europe's great powers, the bitter experience of invasion and occupation during World War II led the Netherlands to become a leading supporter of international cooperation.

Almost 20% of the total area of the Netherlands is water, and much of the land has been reclaimed from the North Sea in efforts that date back to medieval times and have spawned an extensive system of dykes.

It is one of the world's most densely populated nations. As in many European countries, over-65s make up an increasing percentage of that population, leading to greater demands on the welfare system.

After two decades of strong growth and low unemployment, the economy ran into more troubled waters as global trade, in which the Netherlands is a major player, slowed in the early years of the new millennium.

There was concern that Dutch society's longstanding tradition of tolerance was under threat when homosexual anti-immigration politician Pim Fortuyn was assassinated in 2002.

Anxiety over increased racial tension has intensified further since the murder in 2004 of Theo Van Gogh who had made a film on the position of women in Islamic society. A violent Islamic extremist later confessed and was jailed for life. After Mr Van Gogh's killing, the government hardened its line on immigration and failed asylum seekers.

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A similar roadside service — which improves response times to accidents — is also available in Abu Dhabi.

The service was launched during a press conference on Thursday at Sharjah Police headquarters where a number of senior police officers were on hand for the ceremony.

Major General Al Hudaidi, Commander in Chief of Sharjah Police, stressed on the importance of the initiative undertaken by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, to adopt the traffic accidents planning project Saeed in the Emirate of Sharjah.

Major General Al Hudaidi said Saaed will adopt by reducing response times.

The Saaed services will cover all of the Emirate of Sharjah, including the city of Sharjah, the central and eastern regions.

He pointed out to the importance of the value-added service through the redeployment of personnel related to traffic regulation and accidents planning.

“Part of the patrols currently operating in the field will focus on security work and intensify their efforts to combat negative behaviours and curb any security and community phenomena and crimes in all their forms,” he said.

Major General Al Hidaidi said there are approximately 400 minor traffic incidents in Sharjah recorded daily and noted that planning and following them up requires significant time and effort placing a burden on security and traffic patrols operating in the field.

Brigadier Al Harithy said that the trust given by Shaikh Sultan to the company will encourage it to strive toward optimum performance.

Saeed will also increase awareness and traffic education, promote traffic safety levels to the best international standards and help through rapid response to reduce traffic congestion.

Brigadier Al Harithy pointed out that, “This trust represents a major challenge for the company to pursue further excellence in providing services according to the best international practices, within the Emirate of Sharjah. It also is an incentive to actively contribute and support the efforts of the Emirate to improve traffic systems and enhance planning and reconstitution of minor traffic accidents, already implemented successfully in the Emirates of Abu Dhabi, Ras Al Khaimah and Umm Al Quwain.

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The deficit for the current year to June 30 was cut to 6.3 billion New Zealand dollars (Dh18.9 billion) from a previous NZ$7.3 billion forecast, but the forecast deficit for 2013/14 was held steady at NZ$2 billion.

The Treasury forecast a slightly bigger surplus in 2014/15, the long-standing date for a return to the black, of NZ$75 million ($62 million) from NZ$66 million forecast in last December’s mid-year update.

The Treasury revised up its growth for the year to March to 2.5 per cent from 2.3 per cent in the December update, but saw growth at 2.4 per cent in March 2014 from 2.9 per cent.

The department estimated the drought which hit the North Island in early 2013 would cost the economy about NZ$1.4 billion or 0.7 per cent of GDP.

However, the pick up in growth, driven by strong commodity prices and earthquake rebuilding in the Christchurch region, will see a gradual fall in borrowing over the next four years.

Government net debt is seen peaking at 28.7 per cent of GDP in 2014/15, from an earlier forecast of 29.5 per cent in the same year.

Financial market reaction was muted with the New Zealand dollar briefly lifting about 10 points before settling back to $0.8245, while interest rate futures held steady.

Credit rating safe

Ratings agencies Moody’s and Fitch reconfirmed their ratings.

“We view the announcement as encouraging because it continues to demonstrate the New Zealand government remains committed to fiscal consolidation,” said Art Woo, an analyst at Fitch, who said the double-A rating with stable outlook would be unaffected.

New Zealand relies heavily on offshore lenders to fill its budget gap and has repeatedly reaffirmed its surplus plan to defend its double-A credit ratings. Moody’s still rates New Zealand triple-A.

English also said that the overvalued New Zealand dollar continued to weigh on the economy, limiting export-driven growth, but the country was still outperforming most other developed economies.

In December, the government reiterated the need for spending controls and cut growth forecasts as the economy went through a soft patch.

But data this year has shown a lift in business and consumer confidence, moderate growth in retail sales, building consents, record house prices, strong commodity prices, and a fall in unemployment.

“This budget highlights how different New Zealand is to the rest of the developed world, which is mostly mired in fiscal austerity, while we have the luxury of arguing about putting a little bit more into education,” said Bank of New Zealand head of research Stephen Toplis.

English said NZ$900 million had been set aside for new spending in the coming fiscal year, against NZ$800 million originally planned.

However, spending growth in later years has been limited to NZ$1 billion a year from NZ$1.2 billion previously advised.

Missed opportunities

Opposition political parties and trade unions said the budget was a missed opportunity for action in key areas.

“There is nothing new in this Budget to address New Zealand’s high unemployment rate … with unemployment forecast to still be at 6 percent next year,” said Bill Rosenberg, an economist with the Council of Trade Unions.

The budget showed increased spending on health and education, and a planned NZ$2.9 billion investment in new and refurbished houses by the state housing agency over the next four years.

English confirmed that the power company, Meridian Energy Ltd, valued at more than NZ$6 billion, would be the next state-owned corporation to be partially privatised, with up to 49 per cent to be sold in the second half of this year.

“Once again, National is relying on flogging off our assets to solve our economic problems,” said David Shearer, leader of the main opposition centre-left Labour Party.

Levies on individuals and businesses to fund the state accident insurance scheme were set to be reduced by as much as NZ$1.3 billion over the next two years.

English said the government would delay the resumption of payments of about NZ$2 billion a year to the state pension investment fund until net debt falls to 20 per cent of GDP, probably around 2021.

He confirmed that the government had formally agreed with the Reserve Bank or New Zealand a range of macro-prudential tools, such as capital buffers and loan to value ratios, to cope with a strong housing market or asset bubbles.