Posts Tagged ‘China’

HSBC: Vietnam economy recovering

Posted: February 20, 2013 in Asian Currency Markets
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Sat, February 2, 2013,9:28 AM (GMT+0700)

The Hong Kong and Shanghai Banking Corporation (HSBC) released its Vietnam Manufacturing PMI (Purchasing Managers’ Index) in January, 2013, which showed that Vietnam’s economy is recovering despite many difficulties in the coming time.

The index rose to 50.1 in January, up from 49.3 in December, 2012, meaning manufacturing production increased for the third successive month. Companies benefited from a slight increase in new orders from the domestic market. (more…)

Editorial: Iraqi economy in the world’s fastest-growing at a crossroads

Posted: February 2, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-02-02 at 11.40.31 AMDate: Thu 01/17/2013 03:00 pm

D. Kamal Basri
Dean of the Iraqi Institute for Economic Reform

Iraqi economy in the world’s fastest-growing

Issued by the Bank of America Merrill Lynch (BAML) in the United States report shows that Iraq will Achieve the highest growth rate for the years 2012-2013 in the world, data showed Wall Street bank (Wall Street bank’s data) that Iraq will achieve the highest growth rate in GDP (GDP) for 2012, which amounts to 10.5%, and China ranked second at 7.7% and the top ten economies in the world will not exceed its estimated growth rate of 5.5% for the same year. (more…)

Zebari meets with China’s Ambassador in Iraq; Calls on China’s support for Iraq’s exit from CH VII

Posted: January 10, 2013 in Iraqi Dinar/Politics
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10/01/2013 12:11:00

BAGHDAD / NINA / Foreign Minister, Hoshyar Zebari discussed with Ni Jian, the China’s Ambassador in Iraq, bilateral relations and ways to enhance them.

A statement by the Foreign Ministry said that “Zebari told Jian a message from the Iraqi government about the ongoing deliberations in the Security Council on ending the mandate of the international Coordinator over the file of prisoners and missing Kuwaitis. (more…)

Ounce gold may exceed $2,000 in 2013

Posted: November 30, 2012 in Iraqi Dinar/Politics
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29-11-2012 09:54 AM

Brings together experts Swiss that the re-election of US President Barack Obama for a second term, gave gold prices momentum pointing in the past few weeks continues even today, as the ounce of gold stabilizes at around 1730 dollars, bringing back optimism to international investors after a lapse of about a year. It was not easy to build financial projections and Geopolitical minutes will provide the guarantees necessary for markets and financial indicators, but today is attributable gold Swiss experts to stick to prices outweigh the Millennial dollars an ounce next year. (more…)

Tomorrow: Parliament votes on 2013 budget in principle; Continues discussion on ration card

Posted: November 11, 2012 in Iraqi Dinar/Politics
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Sunday November 11, 2012
Parliament votes tomorrow on its budget in principle in addition to the first reading of the budget and discuss financial ration

Follow-up – and babysit – vote in the House of Representatives tomorrow on a draft resolution to approve the proposed budget to the Iraqi Council of Representatives for fiscal year 2013. (more…)

Iraq the most dangerous on the bankrupt investment from Greece

Posted: October 30, 2012 in Iraqi Dinar/Politics
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30/10/2012

BAGHDAD / JD / .. A report adopted by the views of Executive thousand works in foreign investment that Iraq is more dangerous to invest Greece experiencing the worst financial crisis in the history of Europe. (more…)

Control and Inspection Director of Rafidain Bank agrees its an appropriate time to replace currency

Posted: September 24, 2012 in Iraqi Dinar/Politics
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Banker: replacement of a currency is appropriate at this time

Control and inspection Director of Rafidain Bank Al-mundhiri abdolhossein from falling in with errors which occurred during the Exchange after system crash.

This talk at the time the Central Bank tends to adopt a plan to replace the current national currency after deleting three zeros. (more…)

Expert economist: Iraqi oil plays a pivotal role in the global economy recovers

Posted: September 18, 2012 in Iraqi Dinar/Politics
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Said the agency’s chief economist Fatih Birol, the International Energy said that “Iraqi oil plays a pivotal role in the global economy recovers.

He added in an interview that “any unexpected slowdown in oil production will have a significant negative impact of the global economy.” (more…)

United Nations report: stole about 15 thousand pieces of art from Iraq

Posted: August 23, 2012 in Iraqi Dinar/Politics
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23/08/2012

BAGHDAD / JD / .. A report released by the United Nations said nearly 15 thousand pieces of art were stolen from Iraq during the occupation in 2003.
He said the report published by the agency / Russia Today /: estimated size of money laundering in the world at about 5.1 trillion dollars a year, produces 50% of the drug trade, and distributed the rest among the arms trade and trade antiques and antiquities and human trafficking, prostitution and other crimes. (more…)

United States opposes the UN control of the Internet

Posted: August 2, 2012 in General Topic
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02-08-2012 09:25 AM
The United States expressed its opposition to the attempt to modify the global agreement to make the Internet under the authority of the United Nations and the imposition of new taxes on the movement on the Internet. (more…)

House of Representatives will reconvene next Tuesday, the first and second reading of the ten laws

Posted: July 20, 2012 in Iraqi Dinar/Politics
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On: Friday 7/20/2012 1:26

source said in the House, that the Council will resume its sessions next Tuesday, the first reading of the eight draft laws and the second reading of bills.

agency quoted “Euphrates News” newsletter, the source as saying that Tuesday’s session will include the first reading of a proposed law amending the Law on the Ministry of Industry and minerals. (more…)

IMF cut its forecast for global economic growth next year

Posted: July 17, 2012 in Iraqi Dinar/Politics
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17-07-2012 10:57 AM
Are free – Reduction of the International Monetary Fund on Monday, July sixteen forecast growth rates on the global economy next year from 4.1% to 3.9% in light of the ongoing debt crisis in Europe that showed their negative impact on the growth of China and India. (more…)

16 economic laws on Parliaments table; Most notable is Law on Investment, Law Infrastructure, and German-Iraq Agreement

Posted: July 2, 2012 in Iraqi Dinar/Politics, Top Headlines
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02/07/2012 0:00

began the economy, investment and reconstruction in the House of Representatives by moving the 16 draft law and presented it to read the first or second ahead of the vote in a move aimed at supporting the economic file in the country. (more…)

CBI announced foreign exchange reserves rise to 63 billion dollars

Posted: May 28, 2012 in Iraqi Dinar/Politics
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Sunday 27 May 2012
Deputy Central Bank Governor Mohammad Saleh appearance

The Iraqi Central Bank, announced Sunday, rising foreign exchange reserves to $ 63 billion, saying it was the largest in the history of Iraq, said those reserves a few in a country still lacks economic diversification.

He said the Bank’s Deputy Governor Mohammad Saleh appearance in an interview for “alsumaria news”, that “the Iraqi Central Bank reserves of hard currency rose to 63 billion dollars after it was 60 billion dollars by the end of last year, indicating that 2011″ “this height will increase confidence in the local currency and increase stability”. (more…)

World Bank: Vietnam’s economy becomes more stable

Posted: May 24, 2012 in Asian Currency Markets
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VietFinanceNews.com – Vietnam ’s economy is gradually entering a more stable macroeconomic environment after a prolonged period of heightened turbulence, said a World Bank report. (more…)

Report: global economic growth at the highest level in 11 months in January

Posted: February 5, 2012 in Iraqi Dinar/Politics
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Report showed the growth of global private sector economy, the highest level in 11 months in January to promote new projects, prompting companies to hire more staff.

The index rebounded world GDP, which puts him good. Morgan in collaboration with research institutions and institutes to manage the procurement of up to 54.6 from 52.7 in January and remains above the level of the fifty that separates growth from contraction.

The services sector index rose to 55.4 from the World 53.0. (more…)

Reuters: Geithner urges more currency flexibility from emerging nations

Posted: January 27, 2012 in Iraqi Dinar/Politics, Top Headlines
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(Reuters) – Treasury Secretary Timothy Geithner said on Thursday that key emerging-market nations must let their currencies rise in value in order permit more stable global growth.

In an interview in Tokyo with Japanese broadcaster NHK, Geithner appeared to refer to China when he spoke about the role of emerging market countries in creating a more stable monetary system.

Read More: LINK

Iraq to normalize economic relations with the world at UAE Sino-Arab conference

Posted: January 16, 2012 in Iraqi Dinar/Politics, Top Headlines
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ERBIL, Jan. 16 (AKnews) – Iraq is planning its participation in the fifth round of the Arab-Chinese Businessmen Conference. Iraq’s aim is to normalize economic relations with the world.

Iraq is expected to attend the one-day conference in Sharjah city with a high-level delegation headed by the Minister of Trade Khairullah Hasan. (more…)

Iraq participates Conference of Arab Businessmen and Chinese in Sharjah next Wednesday

Posted: January 16, 2012 in Iraqi Dinar/Politics
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Erbil, January 16 (Rn) – The Iraqi Trade Minister, on Monday, on the participation of high-level Iraqi delegation at the Conference of Arab Businessmen and Chinese which will be held in the UAE next Wednesday.

Khairallah said Hassan, told the Kurdish news agency (Rn) that “Iraq is a high-level delegation will take part in the Second Conference of Arab Businessmen and Chinese to be held next Wednesday the 18th of January in the city of Sharjah Emirates.”

The good God that “the objective of participating in the conference is to strengthen Iraq’s economic relations with the countries participating in all the magazines,” adding that “he will lead the Iraqi delegation will include representatives from other ministries as well as a number of businessmen.” (more…)

U.S. firm: Iraq is expected to surpass China in terms of growth in the years to come

Posted: January 15, 2012 in Iraqi Dinar/Politics, Top Headlines
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Called for U.S. engineering firm Fluor, Saturday, Iraq to invest more in infrastructure for electricity and water to achieve sustainable growth, as predicted over Iraq to China in the level of economic growth.

The head of the unit of energy and chemicals in the Fluor Peter Awstrver in a statement seen by “Twilight News” that “Everyone is talking about oil and gas, but electricity and water are of great importance in the development of Iraq and they lack the development.” (more…)

China increased trade with Iraq in 2011; Reaching $8 billion

Posted: October 26, 2011 in Iraqi Dinar/Politics
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26/10/2011 14:06
Baghdad, Oct. 26 (AKnews) – Salam al-Quraishi, an economic adviser in the Iraqi government, claimed that the volume of commercial exchange between Iraq and China reached $8 billion USD (9.4 trillion IQD) during the first nine months of 2011.

Allegedly, the trade volume in 2010 was only $6 billion USD (7 trillion IQD).

“China is working to increase its influence in the Iraqi market and especially in the fields of electricity, oil, housing, infrastructure development and in water and sewage projects,” Quraishi said.

(more…)

CNBC: G20 pledges fiscal consolidation, move on FX

Posted: October 16, 2011 in Iraqi Dinar/Politics
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- PARIS, Oct 15 (Reuters) – The Group of 20 leading economies agreed on Saturday that advanced economies would consolidate their fiscal deficits and emerging economies like China would continue their move toward greater exchange rate flexibility.

“Advanced economies, taking into account different international circumstances, will adopt policies to build confidence and support growth and implement clear, credible, specific measures to achieve fiscal consolidation,” a draft G20 communique from a meeting of finance ministers and central bankers said.

Read More:  http://bit.ly/mU2GUA

Hillary Clinton: US must stand up to China on currency

Posted: October 15, 2011 in Iraqi Dinar/Politics
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NEW YORK: The United States must stand up to China to prevent Beijing from taking unfair advantage in trade through its currency policy, US Secretary of State Hillary Clinton said today.

“They continue to try to game the system to their advantage and our disadvantage,” Clinton said after a speech to The Economic Club of New York.

“I think it’s appropriate and fitting and timely for us to be standing up and saying, ‘This is not acceptable.’”

Read More: http://economictimes.indiatimes.com/news/international-business/us-must-stand-up-to-china-on-currency-hillary-clinton/articleshow/10359455.cms

Sen Schumer believes Currency Bill to pass overwhelmingly next week before reaching President

Posted: September 30, 2011 in Asian Currency Markets, US Economy
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Schumer says believes currency bill will reach Obama

WASHINGTON (Reuters) – A top Democratic senator on Friday said he was confident the Senate would “overwhelmingly” pass a bill next week to crack down on China’s currency practices.

Senator Charles Schumer also told reporters he thought it would be difficult for Republican leaders in the House of Representatives to block the legislation, making it likely it would reach President Barack Obama’s desk.

http://www.fox43.com/news/politics/sns-rt-us-usa-china-currencytre78t3kw-20110930,0,899092.story

US Senate to move next week on China bill

Posted: September 27, 2011 in Asian Currency Markets
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WASHINGTON — The US Senate will move forward next week with a bill to punish China over its alleged currency manipulation, Democratic Majority Leader Harry Reid said Monday, predicting the legislation will pass.

“China trade is a jobs bill that’s been long, long overdue. It’s a bipartisan bill and I feel very comfortable we’re going to pass it,” Reid told reporters at a press conference, using shorthand for the proposal.

Reid said that “next week” the Democratic-led chamber will “start our work on trade matters” including the legislation on China’s currency, though it was unclear when the bill would come to a final vote.

Read More: http://bit.ly/qxzH9x

Reuters: Senators eye October action on China yuan

Posted: September 23, 2011 in Asian Currency Markets
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(Reuters) – A bipartisan group of U.S. senators on Thursday predicted the Senate would overwhelmingly pass a bill next month to crack down on China currency practices they blame for millions of lost American jobs.

“When countries like China manipulate their currencies, that’s not competing. That’s cheating,” Senator Sherrod Brown told reporters at a news conference to unveil the bill.

The legislation combines two earlier bipartisan measures — one championed by Democratic Senator Charles Schumer and Republican Senator Lindsey Graham; the other by Brown, a Democrat, and Senator Olympia Snowe, a Republican.

Read More:  http://www.reuters.com/article/2011/09/22/us-usa-china-idUSTRE78L6PN20110922

Citibank Press Release: Citi’s Worldlink Payment Services Stays Ahead of Curve for Exotic Currency Payment Capabilities (RBM, IQD)

Posted: September 21, 2011 in Iraqi Dinar/Politics
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PRESS RELEASE

Sept. 21, 2011, 9:00 a.m. EDT
Citi’s Worldlink(R) Payment Services Stays Ahead of the Curve for Exotic Currency Payment Capabilities

TORONTO & NEW YORK, Sep 21, 2011 (BUSINESS WIRE) — Citi today announced that its Global Transaction Services unit has continued to make enhancements to its WorldLink(R) Payment Services capabilities for making payments in exotic currencies, such as the Chinese Renminbi (RMB) and Iraqi Dinar (IQD).

In addition, WorldLink has developed its network to support current and future exotic currency offerings. These enhancements allow for significant reductions in settlement time, increased visibility of important transactional details and a reduction of volume capacity against exotic currencies.

(more…)

Video: Iraq Currency Revaluation – A CCTV Follow Up

Posted: September 9, 2011 in Iraqi Dinar/Politics
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​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

(more…)

China to internationalise currency

Posted: August 31, 2011 in Asian Currency Markets
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The gradual internationalisation of China’s renminbi will see at least 40 percent, or about US$100 billion, of China’s trade with Africa being made using the currency unit by 2015, a research study has shown.

Currency internationalisation is defined as the widespread use of a currency outside the original country.

It is determined by the demand other countries have for that currency.

This depends on the amount of business that is performed between the countries and or the perceived value of the currency as a good store of value.

(more…)

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