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Iraq approves $500m deal with Kuwait Airways to end dispute

Iraq's state minister Ali al-Dabbagh has announced the cabinet's approval to allocate $500m from the budget to resolve a dispute with Kuwait over the debts of Iraqi Airways, Bloomberg has reported. State-run Kuwait Airways Corp has been seeking $1.2bn in compensation for 10 aircraft taken during former the Iraqi regime's invasion of Kuwait in 1990. The cabinet asked parliament to approve the allocation of $300m from the 2012 budget and another $200m the following year, al-Dabbagh said.