Archive for August 7, 2011

Reuters: Scenarios….What measures might the G7 announce to calm markets?

Posted: August 7, 2011 in General Topic, Investment Tips, US Economy

(Reuters) – Financial policymakers from the G7 leading industrial nations are expected to hold a teleconference later on Sunday to discuss the financial market turmoil after the U.S. debt downgrade and the worsening euro-zone debt crisis.

The G7 may release a statement. These generally contain broad pledges, such as countries agree to take the appropriate steps on fiscal consolidation to reduce their budget deficits and will coordinate to ensure smooth functioning of financial markets.

Read More:  http://www.reuters.com/article/2011/08/07/us-crisis-g7-options-idUSTRE7762FC20110807

Editorial: Cancel the zeros on dinar is a step in the right direction

Posted: August 7, 2011 in Iraqi Dinar/Politics
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07/08/2011

There is no doubt that we are on the verge of cancellation three zeros from Iraqi dinar .. The central bank may be prepared for a gradual withdrawal (27) trillion dinars, ie (4) trillion banknote .. To offset the dinar raises skim zeros. Currency – definition – equivalent commodity .. Thus evolved until it reached the icon to the paper .. Which does not change the value of goods and services,

It is just a symbol of authority shall determine the monetary value .. Vtsahha – up and down – the movement of markets and the intervention of “central” .. The cancellation will not affect at all the zeros in the value of the dinar .. If the value of 1200 dinars to the dollar .. The value of the dollar will be 1.2 dinars. And would be equivalent (1) JD (1000) Current BD .. Purchasing power will not change .. Markets – With the aim easy – sometimes cancel the zeros .. Says (1) It means (1000) .. And (25) and means (25000).

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Iraq Transportation Ministry: Kuwait exceeded the navigation on the border of Iraq

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Transport Ministry announced that the Kuwait border over the navigation of Iraq, calling for a halt to such abuses.

This comes at a time in which he called deputies to the internationalization of the port File Mubarak, in the case of Kuwait did not stop to create.

The ministry said in a statement it had received “morning,” a copy of it: “In a striking development oldest Kuwaiti side on the abuses of law at our borders navigational Iraq, as told by the General Company for Ports of Iraq through the station to make a sea numbered 3 melon 3 monitor more than (20) pieces freedom of working for the Kuwaiti side near buoy 17 located a distance of half a mile sea route only when the navigation of ships in the Khawr Abd Allah. “

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CBI: Iraqi economy will not develop unless tax system expands

Posted: August 7, 2011 in Iraqi Dinar/Politics
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CBI: Iraqi economy will not develop unless the activities are expanded tax

Baghdad, August 7 / August (Rn) – Deputy Governor of Central Bank of Iraq on Sunday that address the economic problems require the expansion of activities in the country and tax reforms in a wide range of administrative transactions of the General Authority for taxes of the Ministry of Finance.

The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the Central Bank classifies the tax system in Iraq as a late and does not contribute in supporting the action the central bank to support the value of cash and banking transactions in the country.”

He added that “the Ministry of Finance for tax measures to expand and upgrade their value while reducing the administrative and bureaucratic procedures that contribute to hamper the development of the Iraqi economy.”

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Kuwait affirms keenness on good ties with Iraq

Posted: August 7, 2011 in Iraqi Dinar/Politics

KUWAIT, Aug 7 (KUNA) — Kuwait is keen on maintaining good neighborliness ties with Iraq and clarifying all facts related to the Mubarak Al-Kabeer Port venture, the Foreign Ministry affirmed on Sunday.

Khaled Al-Jarallah, the ministry undersecretary, in a statement to journalists after a presentation about the phases of the mega project, said it was held in reaction to the “media commotion” about the project, which would not serve the distinctive ties between the State of Kuwait “and the brothers in Iraq on the basis of our keenness on maintaining good neighborliness relations with the brothers in Iraq and clarifying matters to them.” Kuwaiti officials have presented the diplomats in the country with technical explanation on various aspects of the project related to its location, its prospected effects on navigation, the environment, in addition to some related economic aspects, Al-Jarallah stated. (more…)

Parliamentary Committee on Economics: Next week the second reading of infrastructure bill

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Baghdad, August 7 / August (Rn) – A commission of economy and investment parliamentary Sunday that the draft law of the infrastructure will be put to second reading in the House next week after completion of the introduction of amendments by three parliamentary committees.

The Iraqi Council of Representatives had previously rejected a bill infrastructure made by the then government to grant companies a great investment for infrastructure projects worth 70 billion dollars in a deferred payment at the time were many of the industrialized world which is undergoing a lot of money.

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Mideast markets tumble after U.S. credit rating cut

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Display boards at the Australian Stock Exchange flicker with news of a falling market in Sydney, Friday, Aug. 5, 2011. (AP / Rick Rycroft)The Canadian Press
Date: Sun. Aug. 7 2011 9:31 AM ET
Plummeting stocks marked the opening of most Middle East markets on Sunday following an unprecedented downgrade of the United States’ credit rating.

Nearly all Middle East markets operate Sunday to Thursday, making them the first to respond to credit rating agency Standard and Poor’s decision to knock the U.S.’s sterling AAA grade down one level to an AA-plus rating.

Some of the most rapid declines hit The Dubai Financial Market’s benchmark index, which plunged more than 5 per cent in early trading. The index was down 3.8 per cent to 1,482 points by early afternoon.

Read More:  http://www.ctv.ca/CTVNews/TopStories/20110807/mideast-markets-down-110807/

Saudi Economists fear the threatened USD; Call for revalue of the Saudi Riyal

Posted: August 7, 2011 in GCC, Iraqi Dinar/Politics, US Economy
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  • الأسواق العالمية تنتظرها خسائر قياسيةConfirmed that the global economy threatened to collapse .. And the dollar is no longer a safe haven
  • Experts call quickly revalue the riyal and the diversification of Saudi investments

August 7, 2011

World markets await record losses
Saudi economists emphasized that the world lost a dollar as a safe haven assuring dealt with over the decades as well as gold in the event of any economic turmoil, and after agencies cut credit ratings mark the public debt of the United States yesterday.

Economists said that the positive results achieved by the Saudi riyal and the national economy over the decades by its association with the dollar is no longer available today, calling for the rapid re-evaluation of the riyal exchange rate, and proceed immediately in the distribution of Saudi investments in more than a basket rather than in one basket is a basket of America “worn”.

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Iraq List expects vote on a bill board policy in the next parliament session (Tuesday)

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Alsumaria News / Baghdad
Confirmed the Iraqi List led by Iyad Allawi, a Sunday, that the law of the Policy Board Strategic High raised to the Presidency of the parliament, expected legislation in the next session, as seen calls from some lawmakers for not voting for the leader, Iyad Allawi, head of the Council come to save face rather than pursuant to politically.

A spokesman for the list Haider Mulla said in an interview for “Alsumaria News,” The draft Law on the Council Policy lift, on Saturday, to the Presidency of the Council of Representatives to be enacted and voting on, “noting that” state law will not include specific names, but the structure of the Council and its components and the mechanism for the election of its president, as well as his powers and functions. “

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UAE supports peg, Oman says no alternative to US debt

Posted: August 7, 2011 in Euro, GCC, Iraqi Dinar/Politics, US Economy
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Gulf central bankers were huddled in separate meetings on Sunday to discuss the downgrade, sources said. (File Photo)The United Arab Emirates will keep its currency peg to the US dollar even after Standard & Poor’s downgraded the world’s biggest economy, and Oman sees no risk in investing in US treasuries, officials said on Sunday.

Gulf central bankers were huddled in separate meetings on Sunday to discuss the downgrade, sources said.

All Gulf Arab states, except for Kuwait, peg their currencies to the greenback and their fortunes are closely tied to US developments. Gulf states are also major investors in US treasuries.

“We are pegged to the dollar and will keep it. We don’t see the dollar collapse. Because the problem is not in the US only, but also in the European markets,” said Mohamed Al Tamimi, deputy executive director at the UAE central bank’s treasury department.

Read More: http://english.alarabiya.net/articles/2011/08/07/161213.html

Vietnam having fewer counterfeit banknote cases

Posted: August 7, 2011 in Asian Currency Markets
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AUGUST 7, 2011
VietFinanceNews.com – The counterfeit money detected in the bank systems and state treasury in the first half of this year has seen a decline over the previous years, newswire VnExpress reported.

According to the State Bank of Vietnam, the amount of fake bank notes this year has fallen by 24 percent and 60 percent over 2010 and 2009.

Polymer bills account for 97 percent of the fake notes, 44 percent of which is VND50,000 notes while the VND100,000 bills take up 28 percent.

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National Alliance MP: Policy Council Law will face many obstacles before passed in Parliament

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Sunday 7 August 2011

BAGHDAD: Between the House of Representatives member for the National Alliance MP Haitham Jubouri that the Policy Council will face many obstacles and bottlenecks during the presentation to Parliament.

Jubouri said in a statement to the news agency public opinion (and babysit) on Sunday, “I think a lot of obstacles facing the Council of strategic policies Supreme being unconstitutional and inconsistent with the directions of the Council of Representatives or the government’s attitude on the lower estimates in terms of Limbering followed by being cost the state more money available to the It is difficult to be easily passed in parliament. “

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CBI Daily Currency Auction August 7, 2011: $176 million

Posted: August 7, 2011 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 7-AUG-2011. The results were as follows:

DETAILS NOTES
Number of banks 20
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 176,479,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 176,479,000
Total offers for selling (US$) —–

Iraqi List: Allawi’s assignment as NCSP’s Chairman would restore balancing inside al-Iraqiya Coalition

Posted: August 7, 2011 in Iraqi Dinar/Politics
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8/7/2011 11:11 AM

BAGHDAD / Aswat al-Iraq: The assignment of the post of Chairman of the National Council of Strategic Policies (NCSP) for al-Iraqiya Coalition’s Leader, Iyad Allawi, would restore balancing inside the Coalition, its Member, Shaker Kattab said on Sunday.

Kattab told Aswat al-Iraq news agency that Iraqi President, Jalal Talabani, had been assigned to present the draft-law on the NCSP for voting by the Parliament within the forthcoming 3 days.

“It is decided that the President would present the NCSP’s draft-law to the Parliament for voting, and we are optimistic that the Parliament would pass the law,” Kattab said, adding that “Dr. Allawi is the sole candidate to chair the NCSP and there are no other names competing him to occupy the post, thing that would restore balance inside al-Iraqiya Coalition.”

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Bank heists nets 900 million Iraqi Dinars, 200 thousand USD

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Bank robbed in central Baghdad
8/6/2011 6:46 PM

BAGHDAD / Aswat al-Iraq: Security sources announced today that a group of burglars stormed the Bank of Baghdad, stealing more than one billion Iraqi dinars.

The robbery took place in central Baghdad in a very crowded area.

The burglars broke in from the back door of the bank, stealing 900 million Iraqi dinars and 200,000 dollars.

No other details were given.

http://bit.ly/n3PHIM

Policy Board: Maliki’s bloc looming Federal Court and the list of Allawi expects block parliament

Posted: August 7, 2011 in Iraqi Dinar/Politics
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BAGHDAD (Agencies): announcement of the success of the third meeting of leaders of blocs, hosted by President Jalal Talabani and agreement on several points, did not prevent the deputies of the coalition of state law, to express their rejection and frustration with the issue of the National Council for the strategic policy.

And between threatened not to vote on the law Council and the recourse to the Federal Court, and the compromises pruned the powers of the Council, and made ​​by the Iraqi draft law about it, remains the subject a time bomb waiting to blast, when asked in Parliament after the submission of a proposal around Talabani has also been agreed.

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Iraq Supreme Islamic Council: Iraq needs independence and sovereignty

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Iraq’s Supreme Islamic Council confirms necessity to restore independence and sovereignty
8/7/2011 11:28 AM

BAGHDAD / Aswat al-Iraq: Iraq’s Supreme Islamic Council has reiterated necessity to restore Iraq’s full independence and complete sovereignty on its lands, being among the highest goals it’s striving to achieve, according to the Council’s statement on Sunday.

“The Supreme Islamic Council is looking with an eye of strong optimism towards achieving full independence by Iraq and leaving behind all the exceptional circumstances that had threatened its independence and sovereignty,” the statement, copy of which was received by Aswat al-Iraq news agency had stressed, confirming full moral and political support for “Iraq’s Armed Forces, to achieve their national missions in protecting the country’s internal security and sovereignty.”

In conclusion, the Supreme Islamic Council, had called in its statement upon all national forces to “achieve cohesion and solidarity to strengthen all the achievements, scored by Iraq over the past eight years.”

http://bit.ly/qTDT3f

Iraqi Finance: budget in 2012 will be free from the fiscal deficit

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Baghdad, August 7 / August (Rn) – The Iraqi Ministry of Finance of the Federal, Sunday, announced that it will file the budget in 2012 to the Council of Ministers in September next and are free of the fiscal deficit.

The Deputy Minister for Diya Khyoun Kurdistan News Agency (Rn) that “the Ministry of Finance began to prepare the budget in 2012 and which will be submitted to the prime minister in September next month for approval and sent to the House of Representatives for a vote.”

He added that “the total amount of the budget is not clear yet, but he adopted the selling price of crude oil on the basis of $ 85 per barrel and exports 2.2 million barrels per day of crude oil.”

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Iraqi Finance Committee: Reparations owed to Kuwait places burden on Iraq economy

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Finance Committee: Compensation of Kuwait disrupted activation of the domestic sectors

Parliamentary Finance Committee confirmed that the amount of compensation to Kuwait constituted a burden on the Iraqi government was supposed to be used to activate the domestic sectors.

The Office of the United Nations, said to force Iraq to pay reparations to Kuwait resulting from damages caused by the Iraqi invasion of this country in the period of the previous regime.

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Today, Tripartite Committee meets to put final touches on Policy Board law

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Sources: Parliament will receive a copy of it on Monday or Tuesday

Scheduled to convene the Tripartite Commission set up by the political leaders meeting place where the final touches on the Law of the National Council for the strategic policies of the Supreme.
This was announced by the “morning,” a senior political source.

The source said the meeting will discuss the calendar harmony with the consensus of law before its submission to the President for submission to the House of Representatives.

In this regard, the leader of the National Alliance MP Hassan Sinead, “morning”: that “the mass will interact with the law of the Policy Board if in the framework of consensus, if either is out of the framework agreement will not attend the meeting will not participate in this council.”

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Iraq Center for Economic Development: Iraq’s economy needs a new renaissance

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Center for Economic Development calls for not pushing the political economy problems

Baghdad (news) .. Student president of the Center Economic Development Said Abdalazir not thrown the political problems experienced by the Iraqi economy.

Reason not to promote the economic reality and loss of form

Abdel Aziz said in a statement to contact the Agency (news) today: “Iraq’s economy needs a new Renaissance, through the plans studied previously, it is necessary to stay away from political problems and disorders that directly affect the economy of the country.”

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Member of Finance Committee says Iraqi cash system is antiquated; Need for E-Banking

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Yasiri: banks stretched by the former regime through the sale of less than a dollar Saralsouk
On: Sun 08/07/2011 7:55

Baghdad (news) .. According to a member of the Finance Committee in the House of Representatives MP / coalition of state law / Abdul Hussein al-Yasiri that banks, especially the Iraqi government which has been stretched during the former regime, calling for the development of its work over the future.

Yasiri said in a statement to the Agency (news) that the banks in Iraq and especially the government of which have been stretched during the former regime in many ways the first of dollar selling less Mamugod in the market, which form large losses on the government at the time, adding that he caused to this process procedures for buying on credit and purchase open.

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Allawi: I am not interested in any position, but the safety of the political process

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Baghdad: Said the Iraqi leader Ayad Allawi’s “lack of interest to any office in the Iraqi state as much interest in the safety of the political process.” Allawi said, told all of Iraq (where) “I’m not concerned with the receipt and function of the Policy Council strategic as far as my interest in the safety of the path of the process that will ensure the integrity of political stability in Iraq, “noting that” the Council strategic policy has been agreed in Erbil to serve as a receptacle for the partnership of political decision and not exclusivity. ” “The integrity of the political process will cast on improving the reality of the lives of the Iraqi individual, whether he was responsible or a regular citizen.”

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GOI: Policy Council bill heads to parliament within 48 hours

Posted: August 7, 2011 in Iraqi Dinar/Politics
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Iraqi Parliament, Parlamani IraqBaghdad, August 7 / August (Rn) – The Office of the Presidency of the Republic of Iraq on Sunday that the President will transmit during the next 48 hours bill National Council for the strategic policy to the House for discussion and approval.

The leaders of political blocs have agreed in principle last week to the enactment of the National Council for the strategic policy during the next term and specific two weeks to send the law sooner than the presidency to the parliament for a vote.

The head of the Bureau Naseer al-Ani told the Kurdish news agency (Rn), “There’s deliberations among stakeholders in the Presidency on the draft of the National Council for the strategic policy,” expected to be forwarded to the Parliament during the “next 48 hours.”

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