Archive for May 10, 2011

Iraq’s Moment

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Iraq’s strong oil revenues this year, coupled with a new $37-bn investment plan, will ensure double-digit hike in GDP this year. However, political and security issues could derail growth.

Iraq’s expected double-digit growth this year is a reflection of high oil prices more than anything else, but the government has a chance to build on this windfall with the $37-billion development programme announced in late April.

With Iraq sitting on the fourth largest oil reserves in the world, foreign investment can flow quickly if the government can improve security and keep other key economic indicators at favourable levels.

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Sec. General of the Council of Ministers praised for efforts to remove Iraq from Ch VII

Posted: May 10, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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Keywords: completion of most of the steps of removing Iraq from Chapter VII

Praised the Secretary General of the Council of Ministers for the performance of the Committee to Protect Iraqi funds and the Ministry of Foreign Affairs, which prepared the items to remove Iraq from Chapter VII .

He said on the Keywords that a lot of positive signs for the interaction of government with a file to remove Iraq from Chapter VII achieved except the Kuwaiti, who are being activated.

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Reuters: FDIC unveils retail foreign exchange rule

Posted: May 10, 2011 in Iraqi Dinar/Politics
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(Reuters) – U.S. bank regulators would more strictly supervise banks’ relationships with retail customers who speculate in the foreign exchange market, under a proposal issued on Tuesday.

The Federal Deposit Insurance Corp plan would require retail customers who engage in foreign exchange transactions with a bank, that are not cleared through an exchange, to post a margin amount of 2 percent in the case of major currencies, such as the dollar and euro.

The amount would rise to 5 percent of the notional value of the transaction for some other currencies.

Read More: http://www.reuters.com/article/2011/05/10/us-financial-regulation-fdic-idUSTRE7485IC20110510?feedType=RSS&feedName=topNews

Iraq plans to support the activities of retail banking

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Posted 10/05/2011 09:07 AM

BAGHDAD – Reuters: Officials said on Monday that Iraq is planning to introduce a centralized payment system will cost 15-20 million dollars within a year as part of his quest to take advantage of mobile phone and the Internet to support transactions in the retail banking activities.

The project will provide – which was based on an agreement between the CBI and the U.S. Agency for International Development – for individuals and businesses send and receive payments between banks and internationally online through a single port.

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CBI: Decision to drop the debt of Iraq is political, not financial

Posted: May 10, 2011 in Iraqi Dinar/Politics
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May 10 2011

Expect an expert banker government off Iraq’s debt to the States after the Persian Gulf to reach political agreements, stressing the ability of the Iraqi dinar against any war speculation in international and regional stock exchanges.

The appearance of Dr. Mohamed Saleh, adviser to the CBI’s «home» that this debt out of debt of 13 countries, mostly Arab countries has not been dropped under the talks the Paris Club to drop the debts of Iraq during the Iran-Iraq war. He noted that the largest of these debts to Kuwait and Saudi Arabia, There are talks ongoing carried out by the Iraqi government and the participation of the Central Bank from time to time to extinguish the debt, but the solutions floating and sinking in a sea of ​​political matters that encapsulate these discussions, he said.

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Expert: Iraq may preside over the Organization of Petroleum Exporting Countries (OPEC)

Posted: May 10, 2011 in Iraqi Dinar/Politics
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opec logoErbil, 10 May (Rn) – An expert in the oil markets on Tuesday, said that after the united ministries of oil, energy, three women, it if did not specify the Iranian President Mahmoud Ahmadinejad is urgent and the new Minister of the Ministry of the newly formed, Iraq will chair the meeting of 159 of the Organization of Petroleum Exporting Countries (OPEC) in the Austrian capital Vienna.

The news agency quoted (dowry) Iranian expert in oil markets Jawad Barjani saying that “OPEC depend on the installation of President of the Organization on the alphabetical order, the Iran’s delay in determining the new Minister of the Ministry of the newly formed, means that Iraq’s oil minister will chair the upcoming meeting of the OSCE in Vienna “.

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Vietnam: Forex is Still a Hot Potato to Handle; Confidence in Dong is back

Posted: May 10, 2011 in Asian Currency Markets
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VietFinanceNews.com – With the confidence coming back to dong, the currency continued to appreciate against the dollar in April. Greater administrative measures are waiting in the wings to pull the forex market back into the safety zone.

Local monetary authorities must mull whether the forex market is too complex for technical measures and should administrative measures be applied.

Louis Taylor, general director of Standard Chartered Bank Vietnam, said market participants would welcome a self-adjusting market mechanism with limited direct controls from authorities.

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Dow Jones: Wells Fargo Buys Foreign Currency Wholesaler

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Wells Fargo & Co. (WFC) said Monday it bought substantially all of the U.S.- based assets of Foreign Currency Exchange Corp., a wholly owned subsidiary of the Bank of Ireland Group.

Financial terms of the deal were not disclosed, but the transaction will close this summer. FCE is an Orlando, Fla.-based foreign currency wholesaler that serves about 140 banks in the U.S.

The firm’s core business is enabling banks to offer foreign currency exchange services to their clients.

Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=201105091347dowjonesdjonline000260&title=wells-fargo-buys-foreign-currency-wholesaler#ixzz1LxdKZHb3

Maliki close to accepting deal with Iraqi List; Choice of Intelligence Chief is obstacle

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Maliki is close to accepting the deal .. agree to al-Dulaimi, the Iraqi intelligence service for

Knowing the source of detection for quasi-political resolution of the security ministries after the conditional approval of the Iraqi list to take over for the office of Saadoun al-Dulaimi, the defense minister. The source, who stressed the anonymity of the sensitivity of the subject in a telephone conversation with the “scope”*

That the Iraqi List, sent a letter to Prime Minister Nuri al-Maliki had expressed conditional approval to take over al-Dulaimi, the defense minister, compared to be nominated head of the intelligence from before, stressing that the prime minister is close to approving this request, particularly with the approach of the U.S. withdrawal, and the Parliament will summon in the coming period to demonstrate the readiness of security forces.*

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CBI Daily Currency Auction: May 10, 2011; $189 million

Posted: May 10, 2011 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 10-MAY-2011. The results were as follows:

DETAILS NOTES
Number of banks 19
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 189,134,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 189,134,000
Total offers for selling (US$) 19

Al-Iraqiya Coalition to meet 7pm to settle its stand towards security cabinet posts Tuesday, MP says.

Posted: May 10, 2011 in Iraqi Dinar/Politics
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BAGHDAD / Aswat al-Iraq: Al-Iraqiya Coalition, led by former Prime Minister, Iyad Allawi, has decided to take a decisive attitude towards the candidates for the security cabinet posts later in the day, its Legislature, Othman al-Juheishy said, expressing possibility for its withdrawal from the government in the event of Prime Minister Maliki’s imposition of his own candidates for the posts.

“Al-Iraqiya Coalition shall meet at 07:00 pm local time on Tuesday, with the presence of all its leaders, under chairmanship of Iyad Allawi, and members of the Coalition, to take a decisive position to settle the issue of the security cabinet posts, as well as the discussion of the recent developments on the political arena,” Juheishy told Aswat al-Iraq news agency.

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House of Representative to postpone security minister vote until after 1-month summer recess, Mid June

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Allawi and Maliki

Differences between state law and postpone the vote on the Iraqi security ministries candidates to mid-June

Declared the Kurdistan Alliance, on Tuesday, the House of Representatives decided to postpone the vote on the candidates, al-Maliki’s security ministries after the weekend and the first legislative term, which ends mid-June because of differences between Iraq and the rule of law, stressing that an initiative Kurdish for the collection of al-Maliki, Allawi in Irbil to resolve those differences, as pointed out that the United States is putting pressure to resolve the file security ministries.

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Source: Kurdistan Alliance has decided to vote on Maliki’s presentation of security ministers in one basket

Posted: May 10, 2011 in Iraqi Dinar/Politics
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A source reveals that the Kurdistan Alliance has decided to vote on the candidates, al-Maliki’s security ministries

Revealed a parliamentary source in the Kurdistan Alliance, Tuesday, that the alliance decided to vote on the candidates the security ministries, who presented their names Prime Minister Nuri al-Maliki, as he emphasized that the alliance decided to vote on the law of independent bodies one basket.

The source said in an interview with “Alsumaria News”, “The Kurdistan Alliance, held today a meeting to discuss several issues, including biographies of candidates in the security ministries and the law of independent bodies,” noting that “the coalition reached during the meeting to the conclusion that the absence of any reservation that has the names of candidates. “

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Iraqi House of Representatives held 63rd session; Reconvene Tuesday

Posted: May 10, 2011 in Iraqi Dinar/Politics
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House of Representatives held in Baghdad, Tuesday, its the 63, headed by Speaker Osama Najafi and the presence of 259 parliamentarians, while the parliamentary source that the meeting will vote on proposals for laws to reduce the salaries of the three presidencies, and the second reading of a number of laws, the most important law of the First Amendment to the salaries of state employees and the public sector No. (22 ) for the year 2008.

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Iraqi White Bloc calls for UN to intervene; Iraq-Kuwait territorial waters

Posted: May 10, 2011 in Iraqi Dinar/Politics
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White describes the Iraqi Security Council resolution on the Kuwait of “falsehood” and calls for the government to intervene

Demanded that the Iraqi bloc white, on Tuesday, the Iraqi government to apply to the UN Security Council to settle the dispute with Kuwait, as described Council resolution No. 833 of “falsehood” to give him the Iraqi territory of Kuwait, accusing the recent acquisition of land border and control of large swathes of Iraqi territorial waters.

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Collect the signatures of 100 members to issue a binding decision of the Government of Kuwait on the override on the Iraqi territorial waters

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Tuesday, 10 May 2011

BAGHDAD – The Feed – The Liberal cluster were part of the National Alliance for the collection of signatures of 100 members in the House of Representatives to pass a binding resolution to the Iraqi government on the “Override Kuwait territorial waters.”

The MP said Uday Aodi in a press statement that he “will be presented this request today to the Presidency of the Council of Representatives and signed by 100 members, asking them to issue a binding decision of the Government on the fact that Kuwait is building a new port beyond the territorial waters of Iraq.”

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Parliament resumes its sessions today and vote on a law to reduce the salaries of the three presidencies

Posted: May 10, 2011 in Iraqi Dinar/Politics
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Tuesday, 10 May 2011

BAGHDAD – The Feed – confirmed member of the National Alliance Batoul Farouk The meeting of the parliament will vote today on a law to reduce the salaries of the three presidencies.

Farooq said in a statement to the news agency public opinion (and babysit) today Alathlathae “Today’s meeting will vote on a bill reducing the salaries of the three presidencies,” pointing out that the agenda for the meeting today to present candidates WILL security ministries as scheduled. “

“The meeting will see the second reading of the draft Convention on the Law of the Arab cultural exchange, indicating that the agenda of today’s meeting will discuss a number of different projects on the agenda.”

And the House resumes today its 63 after the adjournment last week, which saw a speech to the Indonesian Parliament Speaker Ali Marzuki, who visited Iraq last Tuesday.

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