Archive for December 16, 2011

Iraq: An Army of Soldiers to be Replaced by an Army of Businessmen

Posted: December 16, 2011 in Iraqi Dinar/Politics
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After nearly nine years, all US Forces are mandated to withdraw from Iraqi territory by 31 December 2011 under the terms of a bilateral agreement signed in 2008. Now the job facing the war-torn country is to re-build its economy.

On Tuesday, prime minister Nouri al-Maliki gave a presentation to more than 400 executives representing a wide range of industries including petroleum, engineering and construction, commercial aviation, architecture, maritime cargo and financial services; the leaders of American commerce and industry, to proclaim Iraq’s “limitless” opportunities “open for business” to American investors.

Read More: http://oilprice.com/Finance/Economy/Iraq-An-Army-of-Soldiers-to-be-Replaced-by-an-Army-of-Businessmen.html

UPI: Iraq has unfinished business from 1990 war

Posted: December 16, 2011 in Iraqi Dinar/Politics
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NEW YORK, Dec. 16 (UPI) — There’s been no substantial effort made to determine the fate of Kuwaiti national archives lost during the 1990 invasion by Iraq, the Security Council was told.

Iraqi relations with Kuwait had soured over reparations Baghdad owes from U.N. Security Council resolutions stemming from the 1990 invasion by Saddam Hussein. Both countries experienced diplomatic difficulties on work related to missing persons and property related to the invasion that led to the first gulf war.

Read more: http://www.upi.com/Top_News/Special/2011/12/16/Iraq-has-unfinished-business-from-1990-war/UPI-89691324054045/#ixzz1gidvOtO1

Kuwait News: UNSC urges Iraq to do more to resolve remaining issues with Kuwait

Posted: December 16, 2011 in Iraqi Dinar/Politics
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Politics 12/16/2011 9:22:00 AM

UNITED NATIONS, Dec 16 (KUNA) — The Security Council late Thursday called on Iraq to build on existing steps to fully meet its obligations towards Kuwait regarding issues of missing Kuwaiti and third country nationals and of missing Kuwaiti property.

The UNSC supported Secretary-General’s recommendation to extend for a further period of six months, until June 2012, the financing of the mandate of his high-level Coordinator for those issues, Gennady Tarasov.

Following an informal briefing to the Council by Tarasov, Council President Vitaly Churkin of Russia told reporters in a press statement that the Council welcomed the continued cooperation by the Governments of Iraq and Kuwait, and their high level commitments to full implementation of all Iraqi obligations to Kuwait under the relevant resolutions. (more…)

Vietnam currency continues to slide against dollar

Posted: December 16, 2011 in Asian Currency Markets
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VietFinanceNews.com – After more than a month of keeping the interbank exchange rate unchanged, the State Bank of Viet Nam yesterday raised the forex by VND10 to VND20,813 per dollar, its highest level this year.

The interbank dollar exchange rate has advanced VND185 per dollar, or 0.9 per cent, since September when the central bank committed to keeping the forex fluctuation under 1 per cent until the end of this year.

Following the move, Vietcombank yesterday also lifted the dollar exchange rates by VND8-10 over the previous day to VND21,015/21,019. Vietinbank quoted the greenback at VND21,018/21,021 while Eximbank and ACB figures were VND21,000/21,021. (more…)

Maliki: Iraq will provide security to protect U.S. companies invested exclusively

Posted: December 16, 2011 in Iraqi Dinar/Politics
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Detect a coalition of state law led by Prime Minister Nuri al-Maliki, on Friday, that the responsibility for providing protection to U.S. companies investing in the country will be the responsibility of the security services exclusively, confirming that these companies will be subject to national law Alastmar like the rest of the other investment companies.

Prime Minister Nuri al-Maliki has called, on the first Wednesday of companies and American businessmen to invest in Iraq to help promote the economic reality that was destroyed by previous wars.

The MP said the coalition of state law, Abdul Salam al-Maliki in an interview with “Twilight News” that “provide the necessary protection for the partners of the U.S. investment, whether working in the oil sector or other sectors will be the responsibility of the Iraqi security forces,” adding that “this matter is the government’s orientation the current. ” (more…)

NATO assesses tomorrow the closing ceremony of the training mission in Iraq

Posted: December 16, 2011 in Iraqi Dinar/Politics
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Baghdad – and babysit – The Mission of the North Atlantic Treaty Organization NATO that it “will hold tomorrow, the closing ceremony of the training mission after the work lasted about seven years.”

The mission said in a press release received news agency public opinion (and babysit) a copy of it on Friday that “the closing ceremony of the training mission will take place tomorrow, Saturday at the third hour and a half at noon in the conference hall of Babylon at the base of the Union in the Green Zone.” (more…)

Director of the Industrial Bank: out of Iraq from Chapter VII gives the financial sector to deal with the international banks

Posted: December 16, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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On: Friday 16/12/2011 12:22

Baghdad (news) .. The Director of the Industrial Bank Mohamed Abdel Wahab, the need to work on the liberation from the constraints of Section VII, which Arzach Iraq under Tailth.

said Abdulwahab Agency (news) Friday: to exit Alrac from Chapter VII gives the financial sector more freedom in dealing with international banks, as well as reduce costs to all industrialists, and cut steps the mediators and the associated additional costs, and that dealing with global banks have a direct and more credible. (more…)

Director of the Association of private banks: next year will see significant growth of the Iraqi banks

Posted: December 16, 2011 in Iraqi Dinar/Politics

On: Friday 16/12/2011 9:21

Baghdad (news) .. most likely director of the Association of private banks Abdul Aziz Hassoun that year (2012) will see the growth and development of major Iraqi banks in the light of the development plans set for them.

He said Hassoun told the reporter Agency (news) Friday: that the Iraqi banks government and private made great efforts at the present time to develop its work according to the banking systems of modern and sophisticated technology, the fact that the world is now talking Baltknlogia all fields. (more…)

Sudden decrease in the rate of the dinar against the dollar is concerned about the Iraqi market

Posted: December 16, 2011 in Iraqi Dinar/Politics
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Iraqi businessmen said that the sudden decline of the dinar against the dollar during the past two days off from Kulagafi Find the Iraqi market, resulted in the start of a wave of foreign remittances and increase high levels of foreign exchange.

He said the owners of companies and economic institutions in connection with the “arenas of Liberation” on Thursday that the Iraqi dinar has fallen of 1117 dinars to the dollar to 1245 with the central bank cut of the sales of the dollar to less than ten million after it exceeded this figure in the rate of sales day of the U.S. currency about ten times or more.

Central Bank building in Baghdad and the Rafidain Bank
Businessmen stressed the movement draws vast financial witnessed Iraqi banks during the past two days by the companies and economic institutions as well as merchants and citizens, as they made clear that the simple drawings that institutions were banking imposed on the transfer of funds out of the country have risen to about five times because of the rising popularity of the conversion the money.

And linking the economists in the conversations between U.S. withdrawal and the escalation of divisions in the country, and fears that led to the devaluation of the dinar, as well as the country’s vulnerability to a wave of external demands may affect the cash reserve in case Iraqi lift the U.S. out to protect the Fund of Iraq’s money, which was estimated at about two fifths billion dollars.

http://bit.ly/v2Bpeu

UNSC Press Conference: UNSC on Iraq-Kuwait

Posted: December 16, 2011 in Iraqi Dinar/Politics
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Iraq/Kuwait and Syria – Security Council Media Stakeout Video

President Vitaly I. Churkin (Russian Federation) on Iraq/Kuwait and Syria
Security Council Media Stakeout
15 December 2011
Press Statement on Iraq/Kuwait

Informal comments to the media by H.E. Mr. Vitaly I. Churkin, Permanent Representative of the Russian Federation to the United Nations and President of the Security Council for the month of December on the situation in Syria.

Text of the Press Statement: (more…)

Washington pledges to continue supporting Iraq

Posted: December 16, 2011 in Iraqi Dinar/Politics
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BAGHDAD, Dec. 15 (AKnews) – The U.S. government has pledged to continue to support Iraq’s security to overcome any future “challenges”. The announcement came at a ceremony at the U.S. embassy in Baghdad marking the end of U.S involvement in Iraq. An American flag was symbolically lowered and furled into a canvas bag,

The ceremony came as the final 4,000 U.S. soldiers prepare to leave the country and Iraqi Prime Minister Nouri al-Maliki ended an official visit to Washington where he met with President Barack Obama and discussed the relationship between the two countries after the withdrawal.
(more…)

CBI: The regional situation in and behind the slight increase in dollars

Posted: December 16, 2011 in Iraqi Dinar/Politics
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Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh, the bank continued to pump foreign currencies through currency auction at the rate of 150-180 million dollars a day and nearly 200 billion dinars for the purpose of withdrawing liquidity and the preservation of Iraqi dinar exchange rate and trade finance to the private sector.

Salih said in response to Question (morning) on ​​the reasons for the rise in the exchange rate: The regional situation has caused the creation of a new application on the dollar and this was reflected in the demand for a slight rise. (more…)