Archive for July 31, 2011

Special Inspector General for Iraq Reconstruction; July 2011 Quarterly Report

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Key Economic Trends and Developments
The sale of crude oil is expected to generate more than 98% of the GOI’s total export earnings and provide 89% of total government income in 2011. The GOI received a post-2003 record of $20.11billion in oil export receipts this quarter—$3.81 billion more than last quarter and 31% ahead of quarterly receipts anticipated in 2011 budget projections. Non-oil-sector economic activity also has shown signs of growth, with several multi-billion-dollarinfrastructure projects either launched or ready to launch.One mid-year analysis concluded foreign commercial activity was up sharply during the first half of 2011.With major spending now underway to rebuild the country, Iraq’s current account balance is likely to be in deficit for 2011.

Core inflation rose slightly this quarter, crossing 6% for the first time since 2009 to reach 6.3 % in May.The increase reflects pressure from rising global commodity prices. Although now more than twice the 3% rate of a year ago, inflation is below the regional average of 10.9% and is expected to remain in the 6% range through 2012. Two other key indicators, the Iraqi dinar-U.S. dollar exchange rate and the Central Bank of Iraq (CBI) policy rate, were unchanged during the quarter.

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Kuwait’s Foreign Minister underscores significance of Ban-Ki-moon’s report to UNAMI’s mission

Posted: July 31, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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KUWAIT, July 31 (KUNA) — Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah underscored here on Sunday the importance of the third report of the UN Secretary General Ban Ki-moon on the progress made towards fulfilling the responsibilities entrusted to the UN Assistance Mission for Iraq (UNAMI) submitted to the Security Council at its meeting held on July 19.

Sheikh Mohammad told Kuwait News Agency (KUNA) that the report reflects the concern of the UN towards Iraq’s implementation of its obligations stipulated by Security Council resolutions and show the failures of Iraq in this file, in addition to emphasizing the elements that enter into the interests of Kuwait and the position of the International Organization towards them.

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Kuwait cabinet reviews UNAMI report on Iraq”s obligations

Posted: July 31, 2011 in Iraqi Dinar/Politics
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7/31/2011 6:59:00 PM

KUWAIT, July 31 (KUNA) — The cabinet held its weekly meeting here Sunday, as it reviewed the resolutions concerning Iraq’s remaining obligations towards the State of Kuwait in accordance with international resolutions.

Deputy Prime Minister, Foreign Minister and Acting Minister of State for Cabinet Affairs Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah said that the meeting, chaired by His Highness the Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, touched on the United Nations Assistance Mission for Iraq’s (UNAMI) report to the UNSC’s meeting on July 19, 2011.

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Iraq’s leaders to postpone the meeting to next Tuesday

Posted: July 31, 2011 in Iraqi Dinar/Politics
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allawi maliki baghdadErbil, July 31 (Rn) – The Presidency of the Republic of Iraq, said that the anticipated meeting of the leaders of Iraqi political blocs have been postponed again on Tuesday in response to a request from the Iraqi List led by former Prime Minister Iyad Allawi.

It was hoped to meet with Iraqi politicians on Monday at the home of the President of Iraq Jalal Talabani to discuss the controversial themes, including a file as well as American troops.

He is also scheduled to discuss the controversial issues related to meeting the security ministries and the Council of the upcoming policy and the application of the terms of agreement which paved the Erbil to form a government of national partnership.

A brief statement of the Presidency, received by the Kurdish news agency (Rn) that “in response to a request from the leadership of the Iraqi bloc decided to postpone the meeting of political leaders until next Tuesday.”

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1,500 unemployed people applying for small loans

Posted: July 31, 2011 in Iraqi Dinar/Politics
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gorenawe drawakan
Erbil, July 31 (Rn) – An official source in Ministry of Labour and Social Affairs of the Kurdistan Regional Government, on Sunday, to fill some 1500 form by the unemployed, in order to obtain small loans to small projects, noting that over the next few days will be announcement of the first list of loans.

The Director of Information, Ministry of Labour and Social Affairs in the province Abbas Akram, told the Kurdish news agency (Rn) that “about 15 thousand between the unemployed and graduates in universities, institutes and participants in training courses and career, visited the centers of the distribution of forms to obtain small loans in order to accomplish small projects” .

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Pres Najafi discusses US troop withdrawal, Kuwait, security ministers, and reduction of GOI

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Pres. Najafi: Mubarak problem will be solved through dialogue and the adoption of a final withdrawal on

Posted 31/07/2011 02:15 PM

BAGHDAD (Babinaoz): The head of the Iraqi Parliament Osama Najafi said Iraq had not reached any decision yet on U.S. withdrawal by the end of this year and said the council does not have any information about the new agreement or keep troops or trainers, or the capacity of Iraqi forces to maintain security. . While Iraq demanded that Iran halt its aggression on its territory is not justified.

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Iraq: Towards the abolition of 3 zeros from banknotes

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Sheets of a 100 Iraqi dinars (auction. Kyu 8. Com). JpgSunday, July 31, 2011

BAGHDAD – Naseer Goldfinch
Iraqi Central Bank (CBI) announced the completion of the preparation of a plan to replace the current banknotes after the abolition of 3 zeros of them, including 30 trillion dinars (26 billion dollars) is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.

The expert explained the first in the Central Bank of Iraq in favor of the appearance of Mohammed in an interview to «life» The replacement of the currency, as a response to fears of a major corruption of the process. He said: «Our problem lies in the current issue of the timing of replacement of the currency must be chosen as a date suitable to implement the project without obstacles».

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Najafi asserts that the defense share of Iraqi and al-Dulaimi, not candidates for the job

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Said Iraqi Parliament Speaker Osama Najafi, Sunday, that Iraq was involved in the provision of candidates for the post of defense minister after he made ​​10 of them for this purpose, noting that Saadoun al-Dulaimi not list candidates for the position.

Nujaifi said at a news conference, Today, the parliament building and attended by “Alsumaria News”, “the Iraqi List is on the nomination of ministers, whether for the office of Secretary of Defense or the other,” noting that “Saadoun al-Dulaimi, a respectable and efficient and able to manage the Department of Defense but it is not our candidates for this position.”

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CBI: Project to lift zeros still on track just not implemented; Denies counterfeit currency is the delay

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Sunday July 31, 2011
CBI: the process of removing the zeros face reactions from some quarters

The central bank denied that there are counterfeit currency into the country which led to the postponement of the project to delete the three zeros, noting that the process of removing the zeros facing the reactions of the strong points.

The central bank adviser said the appearance of Mohammed in a press statement, “There is no health on the entry of counterfeit currency into the country led to the postponement of the deletion of zeros until further notice, and that the project still exists, but ink on paper has not been implemented yet.”

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Iraq will request UN to reconsider those resolutions imposed

Posted: July 31, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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Iraq to ask UNSC to reconsider the decisions imposed upon them

Iraq plans to call for a review of decisions to the internationalism that were imposed on Iraq after 1991

MP for a coalition of state law, Abdul Salam al-Maliki said Iraq will demand the UN to reconsider the decisions imposed upon him after the year one thousand nine hundred and one ninety-(1999) because of the prejudice against the Iraqi people.

And said in a press statement that he was a request to the House of Representatives signed by a hundred and twenty deputies to reconsider the decisions to the internationalism that were imposed on Iraq, including resolution, eight hundred and thirty-eight (Resolution 833), by which the demarcation of the border between Iraq and Kuwait on the basis of incorrect.

He said that Iraq will not stand idly by, and consultations will be held between the government and Parliament for the purpose of making appropriate decisions do not extract the people’s rights Iraqi and remedies, he said.

http://bit.ly/rpwSxE

UN Operational Rates of Exchange – Effective August 1, 2011

Posted: July 31, 2011 in Iraqi Dinar/Politics
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The Operational rates of exchange listed herein are intended only for the internal record-keeping of the United Nations. No warranty of accuracy can be given and the United Nations shall not assume any responsibility in connection with the present publication of these rates. Generally, the rates are updated monthly, based on market conditions. Adjustments are also made following official government devaluations or revaluations.

01 August 2011 Excel file

Key Rates Listed Below (Note Iraqi Dinar not listed) (more…)

UN required Iraq to pay the billion dollars in compensation to Kuwait

Posted: July 31, 2011 in Iraqi Dinar/Politics
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altUNHCR announced the disbursement of compensation for the impact of the premium for the damage caused by the Iraqi invasion of Kuwait, at the same time, Kuwait has received one billion dollars.

According to the opinion of Kuwait, this amount raises the total amount paid by Iraq to individuals, companies and countries, through the Office of the Geneva-based to Melg thirty-three billion three hundred million dollars.

UNHCR explained that Iraq still owes nineteen billion dollars paid from oil revenues . And will be the major share of this money has also announced the Commission to companies and governmental and international organizations in Kuwait, was reserved in the Office of the announcement of their names.

Kuwaiti companies in addition to private and government, embassies and international bodies.

http://bit.ly/qphJEN

Kuwait express will to resolve crisis; Iraq will wait to ask for UN assistance

Posted: July 31, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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Kuwait expresses its desire to resolve the crisis through dialogue Port Mubarak

31/07/2011

Iraq has ruled out put the file on the table, the United Nations

At the time expressed Kuwait its desire to resolve the crisis Port Mubarak through dialogue and mutual understanding, excluded member of the Foreign Relations Committee in the House Sami al-Askari Iraq has resorted to put the file on the table, the United Nations, invited the two women the government and parliament to start immediate establishment of the port of Faw and investigation to find out who had delayed its implementation, and work on accountability.

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Iraqi List: If Maliki appoints Dulaimi as Defense Minister by proxy it will not resolve political crisis

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Yawar: Iraq refuses to take al-Dulaimi, the Ministry of Defence Agency

Baghdad (news) .. refused MP / coalition in Iraq / al-Yawar Ajil Hamidi assigned Saadoun al-Dulaimi, to take over the Ministry of Defense by proxy, that is unlikely to resolve the security ministries soon.

Prime Minister Nuri al-Maliki has said he will be commissioned by the Culture Minister Saadoun al-Dulaimi, to take over the Ministry of Defense by proxy until the agreement of the political blocs.

Agil said in a statement (for the Agency news) on Sunday: “The Iraqi List, was nominated this very moment approximately ten members, all of whom have been rejected by al-Maliki did not give the reasons for rejection, even when you want to avoid the nomination of other figures.”

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Source: Iraqi List, Maliki nominate Defense Minister candidates; PM to appoint one by proxy if there is no agreement

Posted: July 31, 2011 in Iraqi Dinar/Politics
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A source in Iraq: Muhammad Alawi al-Maliki will run to assign the Ministry of Defence as well as his proxy to the al-Dulaimi
Sunday, July 31, 2011 11:22

A source at the Iraqi List, that “the prime minister will nominate ministers from the Iraqi List, in addition to the Culture Minister Saadoun al-Dulaimi, to assign the Ministry of Defense by proxy for one of them.”

The source, who preferred anonymity, told all of Iraq [where] on Sunday that “the prime minister is certain that Iraq will not accept the attribution of the Ministry of Defense to any person outside the menu so it was nominated, in principle, the Minister of Communications the current Mohamed Allawi, as it will abide by commitments President of the Republic in this regard. “

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Iraqi delegation to Cairo to discuss debt

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Iraqi delegation to Cairo to discuss my debt and pay remittances yellow
31/07/2011

Up to Cairo on Tuesday a delegation from the Ministry of Finance and Foreign Affairs headed by senior agent of the Ministry of Foreign Affairs, Abawi to discuss a number of issues with the Egyptian side led by Iraqi debt private file transfers yellow.

An official source at the Iraqi Embassy statement the “morning”: that the delegation will coordinate with the Ministry of Finance and the Egyptian Foreign Ministry to receive the amounts of remittances yellow amounting to $ 408 million represents the wages that have been converted by Egyptian workers to their families in Egypt and the former regime, booking it and are approved Council of Ministers launched recently.

http://bit.ly/oVKmuS

Changes to BP oil contract will see govt pay even when oil not produced

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Erbil, July 31 (AKnews) – Controversy has been sparked by the discovery that the Iraqi government has agreed to pay BP even when oil is not being produced at the Rumaila field.

The original contract has been rewritten to allow BP to continue charging the government in the case of any civil disruption or decisions that stop production (which could include Opec negotiated cuts).

This is a major step away from the terms of the deal that were secured at an auction in 2009, leading to claims that the much vaunted “open and transparent” oil deals, are actually forged through back-room deals and oil companies wielding their power over the government.

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Maliki announced the nomination of Dulaimi by proxy as acting Minister of Defense

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Prime Minister Nuri al-Maliki announced his candidacy for the Culture Minister Saadoun al-Dulaimi, to the post of Minister of Defense by proxy.

He said in a press conference held at the headquarters of the House of Representatives “I nominate al-Dulaimi as defense minister as an independent person, and All times for the party and I want to be a minister independently, in the absence of agreement on a person-Dulaimi, or one of the other Fassarah-Dulaimi, a minister acting because I can not continue running the ministry” is over

http://bit.ly/nWYmg7

CBI Daily Currency Auction July 31, 2011: $120.6 million

Posted: July 31, 2011 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 31-JUL-2011. The results were as follows:

DETAILS NOTES
Number of banks 18
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 120,688,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 120,688,000
Total offers for selling (US$) —–

*The Currency Newshound*

Iraqi MP: Iraq-Kuwait Crisis needs Arab League, UN to help settle dispute

Posted: July 31, 2011 in Iraqi Dinar/Politics
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  • Iraqis Ask Govt To Sever Kuwait Ties Over Port Row
  • ‘UN, Arab League Must Help Solve Disputes’

KUWAIT CITY, July 30: Several Iraqis gathered in Tahrir Square, Iraq Friday asking their government to sever diplomatic ties with Kuwait for the latter’s refusal to respond to Iraq’s call for halting the Mubarak Al-Kabeer port project, reports Al-Rai daily quoting sources.

On the other hand, some Iraqi parliamentary figures have stressed the need to settle disagreements with Kuwait through the assistance of regional and international authorities like the Arab League and the United Nations (UN).

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Ramadan may hold key to Arab Spring

Posted: July 31, 2011 in Gold/Silver, Iraqi Dinar/Politics
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KUWAIT: With only one day to go till the start of Ramadan, both opposition leaders and governments in several Arab nations are asking themselves, will it bring a surge of popular protests spurred by religious fervor or pass quietly as hungry and thirsty people avoid the sweltering streets? With the Arab Spring now in its seventh month and showing signs of stalling, the Muslim month of fasting, prayer and piety could give new life to the wave of unrest or bring it to a conclusion. Most observers of Arab politics are betting, however, that the special practices of Ramadan are likely to stir the pot – but only after dark.

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Saudi Arabia, Most Arab Nations To Begin Ramadan Monday

Posted: July 31, 2011 in Iraqi Dinar/Politics
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Sunday, Jul 31, 2011

RIYADH (Zawya Dow Jones)–Saudi Arabia will start the Muslim fasting month of Ramadan on Monday along with most other Arab countries, state media news agencies reported Saturday.

Religious councils in Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Egypt, Yemen and Lebanon said the moon’s crescent wasn’t sighted after nightfall Saturday, and so Sunday would be the last day of the month preceding Ramadan.

Others countries have yet to announce when they will start the holy month. They are expected to follow the Saudi lead.

Muslims look for the new moon to proclaim the start of Ramadan, during which they abstain from food and drink during daylight hours.

-By Summer Said, Dow Jones Newswires; +966-546-842-373; summer.said@dowjones.com

(END) Dow Jones Newswires

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Bloomberg: South America Plans Meeting on Defending Currencies, Economies From Crisis

Posted: July 31, 2011 in Investment Tips, Other Currencies
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Finance officials from South America and Mexico will gather next month to discuss ways to protect their currencies and economies from the debt crisis in the U.S. and Europe.

The meeting of finance ministers from the Union of South American Nations, to take place Aug. 10-11 in Buenos Aires, was organized at the urging of Colombian President Juan Manuel Santos. The gathering will allow governments to coordinate action to deal with shared problems including “speculative” capital inflows that are fueling a rally in their currencies, Santos said at a July 28 summit of regional leaders.

Read more: http://www.bloomberg.com/news/2011-07-29/colombia-s-santos-urges-regional-leaders-to-unite-on-currencies.html