VietFinanceNews.com – Vietnam foreign exchange reserve is estimated to be equal to 8 weeks of import, said Le Xuan Nghia, vice chairman of the National Financial Supervisory Committee at the meeting between the NFSC and top US enterprises on September 6.
Nghia said the figure is estimated to rise to 10 weeks of import in the following year, the local online newspaper Dau Tu Chung Khoan reported.
Forex ruling could lead to dual pricing
VietFinanceNews.com – The State Bank of Viet Nam has shown its determination to stabilise the exchange rate, ensuring a maximum change of 1 per cent for the rest of the year.
The bank justified its decision, saying that the balance of payment (BOP) surplus could reach between US$2.5 billion and $4.5 billion while foreign currency reserves have also increased significantly. In addition, the central bank has also applied many measures to curb credit growth in US dollars.
13/09/2011 17:08
Baghdad, September 13 (Rn) – The staff at the Ministry of Industry and Minerals said Tuesday that the president visited the cause of flooding the market with foreign goods.
And displays many of the factories of the theft of Iraq after the fall of the former Iraqi regime in 2003, and some factories has become outdated and in need of rehabilitation.
And led the small number of factories in the decline of the domestic product and foreign goods flooding the market, which led in turn to increase the rate of inflation in the country.
September 13 2011
Reveal, in a move for fear of subjecting the central bank to the government, accused the bank, on Monday, the window views in the executive branch to block the idea of monetary reform in Iraq, while confirming the Finance Committee in the House of Representatives that the government is working hard to subdue the bodies and independent institutions of all control.
The central bank said in a statement yesterday and received a “long” version of it, that “some government officials are waging an unprecedented media attack on the bank, considering that there is work outside the law mar the idea of monetary reform carried out by the Central Bank”.
The Iraqi Central Bank of retreat from the process of the deletion of zeroes
The Central Bank of Iraq was to retract the deletion of zeros from the draft confirming the presence of political forces to disrupt the project to delete the zeros.
The deputy governor of the Central Bank of the appearance of Mohammed’s “Baghdad Post” that “the central bank is determined to restructure the currency through the deletion of zeros after the Iraqi parliament is prescribed legally appropriate and disable the draft political forces trying to sabotage the Iraqi economy.”
Held yesterday at the Arab League, the work of the Economic Commission arising from the Economic and Social Council under the chairmanship of Qatar with the participation of experts and officials from the Ministries of Economy and Finance of the Arab countries to prepare the economic file to be presented to the Ministerial Session of the Council to be held at the level of senior officials on Wednesday and at the ministerial level next Thursday .
12/09/2011 18:45
Baghdad, 12 September / Spettmar (Rn) – The number of experts and all stakeholders economic affairs of Iraq on Monday that the continued importation of vehicles without the specific mechanisms that contribute to raising the level of inflation in the country.
The Executive Director of the local trade support Baha Shakurji of Kurdistan News Agency (Rn) that “the continuation of the government not to develop mechanisms to regulate the import of cars into the country contribute to raising the level of inflation at 3.9% of the value of annual inflation.”
He added that “the Ministry of Commerce are importing vehicles with origins are in the world of the third degree at exorbitant prices paid by Iraq in dollars.”
He pointed out that “Iraq should develop a mechanism for the manufacture of vehicles through the use of companies are training Iraqi cadres in order to reduce the high level of inflation on the economic system in the country.”
In turn, said Younis al-Baghdadi, teaching at the University of Mustansiriya College of Management and Economics (Rn) that “do some business to sell cars in installments affect the value of the Iraqi dinar and increase the problems of market stability and the exchange rates of the dinar.”
He explained that “the Iraqi dinar must be taking into account the value of the trade exchanges, and not through the purchase of hard currency more than required as it is supposed to be a balance between Matoffer of the local currency and hard currency existing in the Iraqi market.”
“By the traffic circle to the entry of more than 6 million car since 2003 and so far, and this causes confusion in the management of the Iraqi market.”
For his part, adviser in the Iraqi government peace Quraishi (Rn) that “the Iraqi government is considering a number of proposals on Maitalq in the import of new cars to the country and focused on addressing Mazbbh from high inflation because it is consumer goods to Atsem in raising the level of economic development.”
He pointed out that “the Ministry of Commerce will take important decisions in coordination with the Traffic Department and the Central Bank to control the import projects Mazbbh modern cars to raise the level of inflation in the country.”
He added that “among the proposals to determine mechanisms and controls for the entry of firms that focus on the need to deal with companies producing cars and consumer non-durable with large, non-harmful to the environment.”
And spread in the provinces shows a sale of modern cars is remarkable.
Iraq has seen a rise in inflation for the month of July in 2011 compared to the same month of 2010 by 7.1% after it was last year’s 2.4% due to higher prices, housing rent allowances.
13/09/2011 0:00
The future of Iraq / Sudan minimum
The head of the Association of Banks Abdul Aziz Hassoun for a number of private banks under the special guardianship of the Central Bank of Iraq because of financial irregularities.
He said Hassoun, in a telephone interview with news agency the future (and) there are problematic large suffer from private banks because of poor liquidity available to it by the reluctance of many borrowers to restore funds to those banks that make them weak in the provision of financial liquidity necessary to
establish a number of projects investment.
Posted 13/09/2011 08:29 AM
Baghdad – Abdel Wahed Tohme: In the atmosphere of congestion political and popular dominates the scene in Iraq, the dawn of the Kurds opposed a new on oil and gas law, which lifted the Cabinet to parliament for discussion and approval, to add to the list of outstanding differences between the center and the region is another problem. The escalation of the Kurdish After years of tension between central government and the Kurdistan region on the management of wealth, especially oil and gas. The most prominent images crisis and the imposition of the federal ministry of oil sanctions against foreign companies contracted with the Kurdish government for oil exploration and extraction, the latest push the company «Hess Corp» American fourth round of oil licenses.
Finished the first reading of the five draft laws and its lift to the 20 this month
Lifting of the House of Representatives its meeting held yesterday under the chairmanship of Osama Najafi President of the Council and attended by 181 deputies to the twentieth of September instant after he had finished reading the first five bills and vote on the part of its rules of procedure as it decided to postpone the vote until next week as a result of differences over paragraph lift the immunity of deputies .
Baghdad (news) .. called an economist in the Iraq Institute for Energy Hussein star to the participation of Iraqi companies in licensing rounds, the fourth, adding that continuing to invest in energy by the foreign investor will saddle future Iraq in the event of product development.
He star in a statement to the correspondent (the agency news) today, “We are with the licensing rounds, the fourth, but it is necessary for private sector development of Iraqi oil and give it a chance to compete against global companies, especially after it proved its worth in the Kurdistan region, and to continue controlled foreign investor in the energy sector in Iraq will lead to the obsolescence of the Iraqi national capabilities plus it Strehg Iraq in the future if the development of production. “
Date: Mon 09/12/2011 13:59
Baghdad (news) / report / Hussein Faleh / .. most likely, economists low gold prices during the coming period, agreeing that the height of the existence of a close relationship and the inverse between gold and the dollar in the world, are excluded in the words of (the agency news) and the presence of smuggled outside Iraq, helped on the rise.
and likely economic expert Ghazi Kanani continued high price of gold as a result of economic crises that hit the world through the fluctuation of the dollar and the euro and use it as a reserve in the world’s central banks, as well as the growing demand for its use dark blue and the aesthetic and its entry in the electronic industries.
The leader of the coalition of state law and the MP / National Alliance / Salman al-Moussawi, said the coalition’s candidates are ready for the Interior, and will announce their candidates, after deduction of the defense.
Moussawi said in a statement (the Agency news) on Tuesday: that the candidates of the National Alliance for the Interior Ministry ready, and pending resolution of a candidate and the Department of Defense, in order to bring a basket and one, indicating that in the event was to provide a candidate internal to the House of Representatives will be Iraqi him, in the absence of a candidate of defense.
On: Tuesday 09/13/2011 9:25
Baghdad (news) .. said the leadership in the movement of reconciliation and MP / coalition in Iraq / Qusay Juma, said the list is ready to provide new names to the Ministry of Defence had been provided Mberat to reject former candidates.
The political statements, indicated that he will resolve the file named in the near the security ministries, which remained pending since the House vote majority to give confidence to the government of Prime Minister Nuri al-Maliki, without the security ministries on December 21 last year.
Called on the Iraqi market for securities of all companies non-contribution, and that number (20) company to contribute to make a request in the stock market under the criteria for inclusion, noting that the market follows a mechanism to mobile phone companies for the purpose of conversion into joint stock companies.
The latest daily currency auction was held in the Central Bank of Iraq on the 13-SEP-2011. The results were as follows:
| DETAILS | NOTES |
| Number of banks | 22 |
| Auction price selling dinar / US$ | 1170 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 198,061,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 198,061,000 |
| Total offers for selling (US$) | —– |
