Archive for August 22, 2011

Goldline: Gold Hits Fresh Record on Safe Haven Demand

Posted: August 22, 2011 in Gold/Silver, US Economy
Tags: , , , , , , ,

August 22, 2011

Growing concerns about the global economy and the possibility of a new round of stimulus spending in the U.S. sent gold to a new record high just below $1900 per ounce. As of 10:37 AM Pacific Time, gold was trading at $1,891 per ounce on the New York Spot Market, up $37 per ounce, while silver was trading at $43.59, up $0.59.

JP Morgan Chase recently issued a forecast of $2,500 for gold prices before the end of 2011, saying “Before the downgrade, our view was that gold could average $1,800 per ounce by year end. This view will likely now prove to be too conservative: spot gold could drive to $2,500 per ounce or higher, albeit on very high volatility.”

http://bit.ly/nFu0Cz

Iraq: the development of the payments system in the good bank and Mesopotamia

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

moneyBaghdad, August 22 / August (Rn) – World Bank completed 80% of the proportion of the restructuring of the financial aspects of a bank of good and Mesopotamia on the system of payments, according to the director and the restructuring of the unit banks.

Said Majid picture of Kurdistan News Agency (Rn) Monday that “the unity of the restructuring of the problem by the World Bank completed the gain of 80% of the requirements for improving the performance of banks in the development of financial payments that will improve the performance of a bank of good and Mesopotamia and restructuring in line with the electronic development in the the work of international banks. “

(more…)

WSJ: Emerging Nations Seek To Shore Up Currencies

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

By ERIN MCCARTHY

As global markets sell off, some emerging nations have stepped into foreign-exchange markets to prevent steeper declines in their currencies, a contrast to safe-haven countries dealing with strong gains in their exchange rates.

In recent weeks, Turkey and Indonesia have taken or forewarned of measures to curb their currencies’ slides after global growth worries sent equities sliding world-wide and investors fleeing emerging markets.

Read More: http://online.wsj.com/article/SB10001424053111903639404576520041280550836.html

 

Association calls for private banks to develop plans to spur mergers

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Date: Mon 08/22/2011 9:25

Baghdad (news) .. The head of the Association of private banks Abdul Aziz Hassoun, the monetary authority to develop a plan stimulates through which banks on the merger by creating a specific fund to support such projects that meet the economic feasibility of the country.

It is noted that Iraqi banks require two basic steps to get to the road success, either integrated into each other or find a strong partner from abroad assigned.

said Hassoun told the reporter Agency (news) on Monday: “The plan adopted by the banks to benefit from the status and financial capacity is based on the mechanisms and conditions calculated to all parties that wish to merger, including it does not violate any of them, but what Iraq is going through the conditions must be set by the monetary authority plan stimulates the banks on integration through the establishment of a specific fund to support entities that meet the economic feasibility of the country. “

(more…)

Expert: The oil law will lead to civil war in Iraq

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Date: Mon 08/22/2011 10:24

Baghdad (news) .. Called oil expert Hamza Jeweler House of Representatives to overturn a law of oil and gas, and failure to declare the contents of this traps dangerous to the Iraqi people will lead to civil war and fragmentation of the country and its people,

said the jeweler in a statement to the Agency (news) on Monday: I call upon Parliament not to adopt, but and the abolition of the law of oil and gas so as to ensure the sovereignty of Iraq and its people the rights of ownership of the oil.

(more…)

Iraq Finance Minister discusses the restructuring of public companies, state-owned

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Date: Mon 08/22/2011 17:28

Baghdad (news) .. Discussed the Finance Minister Rafie al-Issawi Multi strategy restructuring of public companies owned by the state for support in Ttaiwirjlh the Iraqi economy.

According to a statement of the Ministry of Finance seen by the Agency (news) on Monday, “said Issawi, discussed in a meeting with the ministers of oil, agriculture, industry and minerals and the President of Supreme Audit Finance and Chairman of the Alasttmarmodua strategic restructuring of public companies owned by the state and develop effective solutions to the obstacles faced in order to support them in Ttaiwirjlh Iraqi economy. “

and added: “The Committee decided to provide the advisers in the Ministry of Industry study prepared for the restructuring of those companies to a statement of opinion on them and re-discussed at the next meeting of the Economic Committee.

http://bit.ly/qUAbvj

To adopt the parliamentary energy commission, the draft law of oil and gas, government

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Tawki zaxo, oilBaghdad, August 22 / August (Rn) – The Commission on oil and energy in the Iraqi Council of Representatives on Monday, its dependence on the government version of the draft law of oil and gas instead of the version submitted by the last week in the Iraqi parliament session.

And wait for the oil and energy legislative draft was sent to law by the Iraqi government, such as the study presented to the Parliament for discussion and vote on approval.

The government’s Energy Committee, headed by Deputy Prime Minister Hussein Shahristani, has handed over the middle of the Council of Ministers a draft law last month after completing adjustments.

(more…)

CBI Daily Currency Auction August 22, 2011: $128.9 million

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

The latest daily currency auction was held in the Central Bank of Iraq on the 22-AUG-2011. The results were as follows:

DETAILS NOTES
Number of banks 17
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 128,960,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 128,960,000
Total offers for selling (US$) —–

(more…)

The new Iraqi currency will be printed with 3 languages

Posted: August 22, 2011 in Iraqi Dinar/Politics

Translated by Iraqdirectory.com – [8/21/2011]

The Central Bank of Iraq confirms that the new currency with the deletion of zeros will be printed in three languages: Arabic, Kurdish, and English, as indicated by the application of the Constitution, pointing out that the old currency will be dispensed gradually.

The central bank adviser Mohammed Saleh said “the new currency will be printed in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution,” stressing that “the old currency will not be canceled immediately after issuance of the new, but will be dispensed gradually.”

(more…)

Eid Al Fitr Holiday will be on August 31, says ICOP

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
Crescent Moon (NASA, International Space Stati...

Crescent Moon

Abu Dhabi, Aug. 21st, 2011 (WAM) — The Islamic Crescent Observation Project (ICOP) has said that Eid al-Fitr of this Hijri year 1432 will be on Wednesday, August 31st in most Muslim countries, considering that sighting of the moon is a condition for the beginning of the month of Shawwal.

In most of the Muslim countries which started Ramadan on 1st of August will have their twenty-ninth Ramadan, on August 29th and on that day the moon sighting is impossible from all regions of the Islamic world due to moonset before or with sunset, such as North and Central Asia including the UAE, Qatar , Bahrain, Kuwait, northern and central Saudi Arabia, Iraq, Levant and North Africa.

(more…)

National Alliance agree on three candidates for Minister of Interior

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

August 22 2011

BAGHDAD – Alaa al-Tamimi
Iraq’s citizens: Send the names of candidates of the Interior and Defense to the House of Representatives takes us back to square one

Counting member of the Iraqi farmer Hassan candidates send the interior and defense to the House of Representatives after the end of the holiday for a vote without going Baerakip Back to square one.

Said Hassan’s (Citizen): »that the political blocs agreed to provide the Iraqi List, their candidates, as well as the rule of law at the next meeting».

(more…)

Talabani will resume his mediation between Allawi and Maliki over the next two days

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
Jalal Talabani is the current leader of the PU...

President Jalal Talabani

Baghdad (Hussein Ali Dawood): appeal of President Jalal Talabani, during the next two days, and mediation between the blocs «The rule of law» and «Iraq» to find a settlement to the crisis of the security ministries vacant (defense The Interior and National Security), as provided «Iraq» new candidate for the Ministry of Electricity Successor to the outgoing Minister .

According to the leader of the «Kurdistan Alliance» Raundozi close to President Talabani «Life» that «the president arrived in Baghdad yesterday from the Kurdistan Region will begin During the next two days round of consultations with Prime Minister Nouri Maliki and the Iraqi leader Iyad Allawi, to resolve outstanding issues ».

He added that «Iraq Talabani handed over a list of nominees for the defense portfolio and handed over the State of Law, candidates for the interior ministry », denying reports that Maliki’s refusal to candidates «Iraq» He explained that «the agreement stipulates that Talabani is the mediator in any negotiations between the Sides ».

(more…)

Maliki will head meeting to discuss technical committee conclusions regarding Kuwait Port

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Maliki heads a meeting to discuss the report of the technical delegation that visited the port of Kuwait on Mubarak
Monday, August 22 / August 2011 14:19

Chaired by Prime Minister Nuri al-Maliki called for a special meeting to discuss the report returned by the technical delegation from his recent visit to Kuwait, for the port of Kuwait, Mubarak, who is working on its creation.

A statement from the prime minister said: “The meeting which was held in the presence of Rose Nuri Shaways and Hussein Saleh al-Shahristani, deputy prime ministers and foreign ministers, transport, environment and head of the delegation Thamer Ghadban discuss various aspects of the project.”

(more…)

Diplomatic talks with Kuwait are open – MP

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

8/21/2011 6:05 PM

BAGHDAD / Aswat al-Iraq: Channels with Kuwait shall be open after discussing diplomatically pending questions,  parliamentary security and defense commission member said here today.
MP Ammar Tuma told Aswat al-Iraq that all these questions could be solved through diplomatic channels.
On the Kuwaiti military concentrations, he added that these movements will “escalate and complicate the crisis.”
Kuwait announced on 6 April last the establishment of the Mobarak Terminal, one year after the Iraqi announcement to build the Greater Fao Port on the opposite side of the Gulf.
The Iraqi government, parliament and people rejected the Kuwaiti project as potentially strangling Iraqi economy and affecting its naval routes in the area.
Iraq demanded Kuwait cease work, which was rejected by Kuwait, on the basis that the Iraqi demands are “baseless and foundless.”

Iraqi MP calls for Foreign Ministry Dept to deal with Kuwait according to its violation of international law

Posted: August 22, 2011 in Iraq: Chapter VII
Tags: , , , , , , ,

Iraq’s Foreign Ministry charged with treating Mubarak Port’s crisis with illegal manner, according to MP
8/22/2011 11:37 AM

BAGHDAD / Aswat al-Iraq: The Legislature of the White al-Iraqiya Bloc, Alia Nuseif, has demanded Iraq’s Foreign Ministry to deal with the crisis about Kuwait’s Mubarak Port, according to International laws and not on “non-committing correspondence and documents.”

“The Foreign Ministry is following a wrong direction, through dealing with correspondence and documents with the Kuwaiti side, that have no legal value, thinking that such documents might oblige the Kuwaiti side that its Mubarak Port won’t affect Iraq’s navigation movement,” Nuseif said in a statement on Monday.

(more…)

Iraqi MP: Kuwait won’t match Iraq’s might

Posted: August 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Published Date: August 22, 2011

KUWAIT: Kuwait has been proceeding with its decision to build the Mubarak Al-Kabeer port in the highly disputed area because it receives backing from the United States and Saudi Arabia, the Iraqi Security and Defense Committee commented recently.

Committee member MP Qassem Al Aaraji said, “In terms of size and population, Kuwait is smaller than Iraq, and its military forces are incapable of facing Iraqi might.

He pointed out that Kuwait should stop dealing with Iraq in a callous manner because it (the country) is smaller than the issue.” He also rained criticism on the GCC for lending support to Kuwait’s stance adding, “This message is understood. It is an attempt to pressure Iraq.” Kuwaiti authorities have beefed up security around the port at Boubyan island, after it received threats from militant outfits to destroy the project under construction.

http://bit.ly/pY9b0N

Renminbi Strengthens to 6.3997 v.s. U.S. Dollar on Monday

Posted: August 22, 2011 in Asian Currency Markets
Tags: , , , , , , ,

August 22, The Chinese currency, the renminbi, strengthened 35 basis points to 6.3997 per U.S. dollar on Monday, according to the China Foreign Exchange Trading system.

The currency’s central parity was stronger compared to Friday’s 6.4032 fix as the greenback lost against major currencies amid fears of another recession in the world’s biggest economy.

In China’s foreign exchange spot market, the renminbi is allowed to rise or fall by 0.5% from the central parity rate each trading day.

On May 21, 2007, the central bank widened the daily fluctuation band to 0.5% from 0.3% on either side of the central parity rate.

Read More: http://en.21cbh.com/HTML/2011-8-22/Renminbi.html