Archive for September 1, 2011

​US Dept of Treasury – Office of Foreign Assets Control: Recent Actions 9-1-2011

Posted: September 1, 2011 in Iraqi Dinar/Politics
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Recent OFAC Actions

9/1/2011

​OFFICE OF FOREIGN ASSETS CONTROL

Specially Designated Nationals List Update
9/1/2011
As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called “Specially Designated Nationals” or “SDNs.” Their assets are blocked and U.S. persons are generally prohibited from dealing with them. LINK

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Marketwatch: Turkey and Vietnam Among Destinations Providing Best Currency Value for Travelers

Posted: September 1, 2011 in Asian Currency Markets, Investment Tips, Other Currencies
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Travelex Reports on Locations Offering “Best Bang for Your Buck”

NEW YORK, Sep 01, 2011 (MARKETWIRE via COMTEX) — According to a recent assessment by Travelex, the U.S. dollar has strengthened against the currencies of Turkey, Vietnam, Egypt and Argentina, among other top destinations for U.S. travelers. As the world’s largest non-bank foreign currency provider, Travelex constantly monitors exchange rates and is therefore able to determine which overseas destinations are offering the greatest value at any given time.

The Turkish Lira, for example, experienced a year-over-year change of almost 14 percent, which means a visitor to the Eurasian country would receive 14 percent more for his or her currency this year compared to last year. The Vietnamese Dong, Egyptian Pound and Argentinian Peso are also offering a better bargain for U.S. travelers in 2011, with year-over-year percent changes ranging from approximately five to seven percent.

Read more:  http://www.marketwatch.com/story/turkey-and-vietnam-among-destinations-providing-best-currency-value-for-travelers-2011-09-01

Iraqi Airspace Soon To Be Fully Under Iraqi Control; US Air Force transfers control

Posted: September 1, 2011 in Iraqi Dinar/Politics
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Air Force Transfers Final Sector Of Northern Iraq’s Airspace To Iraq Civil Aviation Authority

The U.S. Air Force transferred the final sector of northern Iraq’s airspace to the Iraq Civil Aviation Authority here on Aug. 25. With the assumption of this sector, the ICAA received control of airspace in Kirkuk from ground level to 15,000 feet.

“This transfer is significant because it is the most complex airspace sector the ICAA has taken to date,” said Maj. Adam Fiedler, an airspace planner with the U.S. Forces-Iraq Air Component Coordination Element-Iraq. “This one sector will control aircraft on departure and landing to five airfields.”

Read More: http://www.aero-news.net/index.cfm?do=main.textpost&id=fa6464ba-3d70-4324-9bf9-51b4e529fe2a

 

CBI: Iraq to Slash Number of Local Banks

Posted: September 1, 2011 in Iraqi Dinar/Politics
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August 31 2011

(MENAFN) Iraq’s central bank’s deputy governor, Mudher Kasim, said that in order for international banks to invest in the country, the central bank would slash the number of Iraq’s local banks by more than a third to 22 banks, reported The National.

Kasim added that the central bank asked local banks to increase their capital to USD85 million in 2011, and to USD127 million by the end of June 2012, to USD212 million in 2013.

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World Arab Union of Bankers posts article: The Central Bank of Iraq revealing details of his new Iraq

Posted: September 1, 2011 in Iraqi Dinar/Politics
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Detection of the Iraqi Central Bank, announced that the new Iraqi currency be lifted by three zeroes, stating that he had conducted an exhaustive study concluded that lifting the Iraqi currency would strengthen the zeros.

Deputy Governor Central Bank of Iraq the appearance of Mohamed Saleh, “the Central Bank is determined to raise three zeros from the new Iraqi currency, the Government introduced its House, and is awaiting the decision of the Government and the House”.

Economists, shows that the process of deleting the three zeros from the Iraqi currency will raise its value and increased purchasing power of citizens, pointing to the need to pursue policies to persuade citizens and get calm for a period not exceeding two years.

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Sadiq: Maliki will accept one of the candidates to defend the Iraqi List

Posted: September 1, 2011 in Iraqi Dinar/Politics
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On: Thu 09/01/2011 9:49

Baghdad (news) .. most likely a member of the state of law and deputy / National Alliance / sincere acceptance of Prime Minister Nuri al-Maliki, the Iraqi List, a candidate.

The leaders of political blocs have agreed at a meeting held at the home of President Jalal Talabani, to form a ministerial committee to implement all the terms of the Irbil, including the security ministries to be resolved within two weeks, and the Iraqi List, nominated four candidates to take over the Defence Ministry and they (MP Jawad al, and Brigadier General Hamid Dawood al-Obeidi, and Army Maj. Gen. Medhat al-Obeidi current and retired Major General Naji Loay Tbakjla).

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Washington Post Editorial: How the U.S. and the world can help Iraq

Posted: September 1, 2011 in Iraqi Dinar/Politics
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By Ayad Allawi, Published: August 31

As the Arab Spring drives change across our region, bringing the hope of democracy and reform to millions of Arabs, less attention is being paid to the plight of Iraq and its people. We were the first to transition from dictatorship to democracy, but the outcome in Iraq remains uncertain. Our transition could be a positive agent for progress, and against the forces of extremism, or a dangerous precedent that bodes ill for the region and the international community.Debate rages in Baghdad and Washington around conditions for a U.S. troop extension beyond the end of this year.

Read More:

http://www.washingtonpost.com/opinions/how-the-us-and-the-world-can-help-iraq/2011/08/30/gIQAIPZxsJ_story.html

Yale study finds actual cost of Iraq reconstruction at $1.6 trillion; Iraq will see loss in its economy as US withdraws

Posted: September 1, 2011 in Iraqi Dinar/Politics
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U.S. study: the reconstruction of Iraq … Loss of its national economy and profits for foreign companies

Posted 31/08/2011 11:25 PM

In 2003 the World Bank estimated the cost of the reconstruction of Iraq, including ranges between 84 and 500 billion dollars, but a study released by the University, “Yale,” the U.S. reported that the cost would amount to 1.6 trillion between 2003 and 2013, which means a great loss for the Iraqi economy and profits of the largest of the economies of countries contributing to reconstruction efforts constructing.

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New York Times: No US troops die in Aug., marking first such month in Iraq war

Posted: September 1, 2011 in Iraqi Dinar/Politics
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BAGHDAD – Under increased US pressure, an Iraqi crackdown on Iranian-backed Shi’ite militias has helped produce a previously elusive goal: For the first time since the US invasion of Iraq, an entire month has passed without a single US service member dying.

The milestone is particularly remarkable because it comes after 14 troops were killed in July, making it the most deadly month for the Americans in three years; and it has occurred amid a frightening campaign of suicide bombings and assassinations from Sunni insurgents that killed hundreds of Iraqis, resurrecting the specter of the worst days of sectarian fighting.

Read More:

http://www.boston.com/news/world/middleeast/articles/2011/09/01/

no_us_troops_die_in_august_marking_first_such_month_in_iraq_war/

MP Brasm: Resumption of meeting between political leaders next week

Posted: September 1, 2011 in Iraqi Dinar/Politics
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On: Wednesday 31/08/2011 12:48

Confirmed by the Iraqi parliament for a coalition of state law, MP, “Jinan Brasm” in a press statement that “the meetings of leaders of political blocs will resume after the holiday to resolve the outstanding differences between them.”

She Brasm “The political blocs agreed to resolve any way the security ministries will be named after the meetings of leaders of political blocs to be the name of the candidate for this position Thouda admissibility of Prime Minister Nuri al-Maliki and all the political blocs.

The leaders of political blocs agreed at their last meeting, held at the home of President Jalal Talabani, introduced a paper containing a mechanism of action of the Council of strategic policies to parliament for ratification, and the resolution of the security ministries within two weeks.

http://bit.ly/n1pgZR

Iraqi List MP denies the nomination of new names for the post of Minister of Defense

Posted: September 1, 2011 in Iraqi Dinar/Politics
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Thursday, 01 September / September 2011 10:39

Denied the Iraqi List MP Talal Zobaie the Iraqi List, the nomination of new names for the post of defense minister.

Zobaie said, told all of Iraq [where] on Thursday that “the Iraqi List, did not submit any list of names of new candidates for the office of the Ministry of Defense,” noting that “the Iraqi List has not received any formal request by Maliki to reject candidates to change their candidates.”

He added that “Iraq the names of nine nominated for the post of Minister of Defense, including former Interior Minister Jawad al-which has the admissibility of prior political blocs.”

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MP sends letter to Kuwait explaining today’s Iraq in not Saddams Iraq; We seek positive relationships

Posted: September 1, 2011 in Iraqi Dinar/Politics
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Letter of Kuwait that Saddam does not Awhitoa black sheets of these behaviors

Sent a deputy on the mass of citizens affiliated to the National Alliance Habib Terminal message to Kuwait that Saddam does not Awhitoa black sheets of these actions because we need positive relationships.

Said terminal in a statement singled out by the reporter and the news agency news (et) The American occupation is behind the problems with the neighboring countries for the survival of his forces. Asking, “Why raised the problem of Mubarak in the port this year, because the occupation on the verge of withdrawal, and need a particular case of the strained relations with neighboring countries.

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Top Three Currency ETFs Of 2011

Posted: September 1, 2011 in Investment Tips, Other Currencies
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This past year has been marked by uncertainty and instability; what started off as a strong 2011, quickly turned into a wild ride for investors. As equities have been tossed back in forth in recent weeks, investors have their eyes fixed on major indexes and other indicators to judge the overall health of our economy.

Needless to say, with all of the turmoil, a number of asset classes have flown relatively under the radar, including currencies.

Read More: http://etfdb.com/2011/top-three-currency-etfs-of-2011/

 

Is Germany Preparing to Exit the Euro?

Posted: September 1, 2011 in Euro, Other Currencies
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Hans-Olaf Henkel’s piece in yesterday’s Financial Times is making waves. Okay, Henkel is an odious man, but my view, which was once considered borderline crazy, is now getting more serious consideration.

The Germans were willing to go into a currency union because by construction that agreement removed the weapon exchange rate depreciation from its competitors. German real wage discipline, labor productivity gains, and engineering innovation could not be undercut at the stroke of a pen. Recall that there are basically 3 Germanys:

Germany #1 being the Bundesbank and “finanzkapital”, which retains huge phobias about the recurrence of Weimar-style hyperinflation, and retains an almost theological belief in “sound money”.

Read More: http://wallstreetpit.com/82856-is-germany-preparing-to-exit-the-euro