Posts Tagged ‘South Korea’

Iraq within the first ten countries in the development opportunities

Posted: April 1, 2013 in Iraqi Dinar/Politics
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Inaugurated by Prime Minister Nuri al-Maliki, on Monday, in the capital Baghdad Investment and Business Forum Iraqi Korean, as he emphasized that Iraq has become among the first ten countries in development opportunities.

The Prime Minister said in a speech during the opening ceremony, said that “Iraq has become a part of the first ten countries in the development opportunities by reports international economic organizations,” asserting that “in front of international companies, particularly the Korean companies great opportunities to invest in Iraq after the conditions are created legal and necessary guarantees to work in all areas. ” (more…)

National Investment Commission looming conducted a second adjustment to the Investment Law

Posted: February 12, 2013 in Iraqi Dinar/Politics
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02/11/2013 (23:00 pm) -

Prime National Investment Commission Sami al-Araji: “The Commission is seeking to hold the Second Amendment to the Investment Law to grant new facilities for investors in all fields, including seeking to develop new mechanisms to encourage investment and tackle unemployment through job creation through to make adjustments to the investment law current. (more…)

Editorial asks questions about CBI’s involvement in Currency auction, money laundering and smuggling

Posted: October 23, 2012 in Iraqi Dinar/Politics
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Central Bank .. Currency auction, money laundering and smuggling
Adel Abdul Mahdi – 10/23/2012 – 12:49 AM | Readers: 27

Justice is not to arrest innocent and condemning the compromise .. The central bank is accused of smuggling money and laundered through currency auction .. Let us not put the suspicions .. And ask some questions. (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…)

Vietnam’s economy enters phase of recovery

Posted: July 21, 2012 in Asian Currency Markets, Top Headlines
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Updated : Wed, July 18, 2012,7:30 PM (GMT+0700)

Vietnam’s economic policy appears to be bringing about a recovery in growth, said The Korea Herald, one of the largest English-language newspapers of the Republic of Korea, in its July 17 edition.

The article says with monetary and fiscal tools, the Vietnamese economy performed well in the first half of 2012 while Asian economic growth was slow and European and US economies worsened by the day. (more…)

Maliki: Many countries agree to executing projects in Iraq upon deferred payment plan

Posted: November 19, 2011 in Iraqi Dinar/Politics
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Friday, November 18, 2011 13:30 GMT
Iraqi Prime Minister Nuri Al Maliki announced on Wednesday, that 2012 monetary budget will be referred to the parliament soon. Many countries agreed upon executing projects according to a deferred payment plan, Maliki revealed calling provinces to invest in private as well as foreign sectors.

“The cabinet will soon refer 2012 monetary budget to the parliament,” Maliki said during a conference for governors and heads of provincial councils held at the ministerial council and attended by Alsumarianews.

“The budget focused on the operational side which weighed it down,” he pointed up.

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Iraq: 34 to conclude an economic agreement in 2011

Posted: October 22, 2011 in Iraqi Dinar/Politics
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22/10/2011 13:20

Baghdad, October 22 / October (Rn) – The adviser in the Iraqi government on Saturday that the number of economic agreements concluded by the Iraqi government in 2011 reached 34 Convention.

Said Salam al-Quraishi, told the Kurdish news agency (Rn) that “Iraq signed 34 economic agreements, 18 of the Convention on the consensus reached between the Council of Ministers, and 16 agreements entered into by the ministries and institutions of the state.”

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The absence of Iraq Competitiveness Report World Economic Forum

Posted: September 12, 2011 in Iraqi Dinar/Politics
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Iraq is heading towards the implementation of administrative reform project to assist the Organization International ((U.S. Agency for International Development Bernameh (thread) and at a cost of $ 150 million in four years, implemented in 2011 in 2015 designed to deal with government departments in the provinces five years)).

The Agency organized a seminar discussion to shed light on how to implement this project through legal amendments to make them compatible with the system works to create an attractive environment for global investment in Iraq.

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WSJ: G7 Meeting Sets Stage For Widening Currency Woes

Posted: September 9, 2011 in Iraqi Dinar/Politics
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NEW YORK (Dow Jones)–It’s appropriate the Group of Seven is meeting in France. It should make it easier for some G-7 officials to partake of some cheese with their whine.

Europe’s debt crisis is roiling markets worldwide, prompting traders to jettison the euro. The squall buffeting the global economy has sent investors in desperate search for safe harbors. The dollar’s no longer the automatic destination for worriers, thanks to a weak U.S. economy and ultra-accomodative monetary policy.

The ensuing hunt for the next best refuge is making the G-7 meeting in Marseille an uncomfortable affair. Canada and Norway are both faulting Switzerland’s dramatic move to bring the franc, the safe haven of choice until the Swiss National Bank imposed a ceiling on Tuesday, to heel.

In an audacious bout of the pot calling the kettle black, Japan is demanding South Korea stop deliberately weakening the won–mere weeks after the Bank of Japan intervened to undercut the yen’s record strength.

Read More:  http://online.wsj.com/article/BT-CO-20110909-713009.html

 

​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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Washington Post: Free trade must not be a casualty of the currency wars

Posted: August 31, 2011 in Iraqi Dinar/Politics
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PRESIDENT OBAMA and most congressional Republicans agree that the three free-trade agreements between the United States and Colombia, South Korea and Panama would boost U.S. exports and promote U.S. economic growth. Alas, they still have not passed Congress because of partisan politics.

Mr. Obama was wrong to blame the “refusal by some in Congress to put country ahead of party.” As Republicans point out, he hasn’t even formally submitted the measures to Congress, because the White House wants better guarantees that the GOP won’t water down a related aid bill for trade-displaced workers. But the GOP would be wrong to resist White House needs on this score, since such aid has long been the political price of advancing free trade, whose benefits exceed the program’s costs. This has gone on long enough — and then some.

Read More:  http://www.washingtonpost.com/opinions/free-trade-must-not-be-a-casualty-of-the-currency-wars/2011/08/29/gIQAtvzbqJ_story.html

Iraq Business News Editorial: Just How International is Iraq?

Posted: August 25, 2011 in Iraqi Dinar/Politics
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If anyone ever doubted the international nature of business in Iraq, just look at the list of nationalities represented on the list of companies pre-qualified for the country’s fourth round of oil licences:

  • Angola
  • China
  • Croatia
  • Egypt
  • France
  • India
  • Indonesia
  • Italy
  • Japan
  • Kuwait

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Korean Won Weakens as Insurers Told to Prepare for a Crisis; Bonds Gain

Posted: August 21, 2011 in Asian Currency Markets
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South Korea’s won fell, capping its fourth weekly loss, after the financial regulator urged insurers to boost capital in preparation for a potential crisis and signs the U.S. economy is slowing dimmed the outlook for exports. Government bonds rose for the first time in four days.

The won led declines in regional currencies today as Financial Supervisory Service Governor Kwon Hyouk Se asked chief executives of insurance companies to be cautious in paying dividends. U.S. reports showed consumer confidence is the weakest since March 2009, existing home sales unexpectedly dropped in July and jobless claims rose more than economists forecast last week.

Read More:  http://www.bloomberg.com/news/2011-08-19/korean-won-weakens-as-insurers-told-to-prepare-for-a-crisis-bonds-gain.html

Asian Currencies Fall, Led by India’s Rupee, on Global Economic Slowdown

Posted: August 21, 2011 in Asian Currency Markets
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Asian currencies fell this week, led India’s rupee and South Korea’s won, as U.S. data added to signs the global economic recovery is losing steam and Europe’s worsening debt crisis bolstered demand for dollars.

Asia Pacific stocks slumped for a fourth week as investors favored safer bets than emerging-market assets. U.S. reports published on Aug. 18 showed consumer confidence is the weakest since March 2009, existing home sales dropped in July and jobless claims rose more than economists forecast. Taiwan released second-quarter gross domestic product data on Aug. 18, joining China, South Korea, Hong Kong, Malaysia and Singapore in reporting the slowest expansions since 2009.

Read More: http://www.bloomberg.com/news/2011-08-19/asia-currencies-fall-this-week-led-by-rupee-on-slowdown-signs.html

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Economist: Iraq’s commitment to new loans and seeking to raise its oil production where the problems of very large

Posted: July 30, 2011 in Iraqi Dinar/Politics
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Economist warned of Iraq’s commitment to delivery of new loans and seeking to raise its oil production will lead to very large problems on the national economy in the future.

Suri said Majed told all of Iraq [where] that: “Any new commitment at the present time to Iraq in terms of loans will lead to very large problems, especially in the case of non-application of the oil investment program and the absence of economic and financial management of Iraqi funds.”

He added that “the pursuit of the Iraqi government to increase production and imports and oil with high risk also in terms of prices and increase supply in global markets with the possibility of reduced demand in addition to the likelihood that the United States to a major crisis because of public debt due to the recent economic crisis, which could lead to lower prices and thus lead to reduce Allwaradat. “

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Bloomberg: Korea Won Trades Near Three-Year High on Greek Rescue Optimism; Bonds Fall

Posted: July 21, 2011 in Asian Currency Markets
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South Korea’s won traded near its strongest level in almost three years as optimism European leaders will break a deadlock over a new Greek bailout bolstered demand for riskier assets, helping emerging markets draw funds.

German Chancellor Angela Merkel and French President Nicolas Sarkozy reached a “joint position on Greece’s debt situation” before a summit today, according to Merkel’s spokesman. The euro rose to a one-week high versus the greenback. The won, Asia’s best-performing currency of the year, may be supported before South Korea’s government announces measures to rein in inflation next week.

Read More:  http://www.bloomberg.com/news/2011-07-21/korea-won-trades-near-three-year-high-on-greek-rescue-optimism-bonds-fall.html

Group Report “minimum” international: foreign investment begins to flow to Iraq

Posted: July 20, 2011 in Iraqi Dinar/Politics
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A report prepared by a group of “minimum” international consultancy to enable Iraq to attract about $ 45.6 billion in foreign investment.

The report said that foreign investment is recovering in Iraq as fueled by growing confidence in the stability of the country, noting that the number of transactions of foreign investment on the way to double this year. P in the first half of this year, enabling Iraq to attract about $ 45.6 billion in foreign investment, and about $ 3 billion in the other half of the year.

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USA Today: Investment in Iraq set to double this year

Posted: July 20, 2011 in Iraqi Dinar/Politics
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Erbil, July 20 (AKnews) – Iraq attracted US$45 billion in new investment so far this year, more than the total for the whole of last year, according to a report by Dunia Frontier Consultants reported by USA Today.

The spike in investment is down to improved confidence in Iraq’s stability, analysts say. Last year Iraq secured $42bn in investment.

Much of the investment is from companies within the Middle-East, but substantial investment from other parts of the world has been flowing in too. French companies account for 9.9 per cent of all investment in Iraq. The U.S. – despite leading the 2003 invasion – only accounts for 4.7 per cent.

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Maliki left Iraq on his way to China

Posted: July 17, 2011 in Iraqi Dinar/Politics
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17/07/2011 13:04

Baghdad, July 17 (Rn) – left the Iraqi Prime Minister Nuri al-Maliki on Sunday afternoon, Baghdad at the head of a ministerial delegation on an official visit to China’s economic take several days.

He was media advisor to Prime Minister Ali al-Moussawi said (Rn) last week that al-Maliki will travel to China at the head of a high-level economic delegation to discuss with the government and Chinese companies on the possibility of entering into the Iraqi market for investment.

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Bloomberg: Rupiah, Won Will Lead Asian Currency Gains This Half, Top Forecaster Says

Posted: July 12, 2011 in Asian Currency Markets
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Indonesia’s rupiah and South Korea’s won will lead Asian currency gains for the rest of 2011 as central banks use appreciation to counter inflation, says Credit Suisse Group AG (CSGN), the region’s most-accurate forecaster.

The rupiah will climb 4.5 percent and the won 4 percent in the six months through Dec. 31, after the two currencies were also the best performers in the first half, according to Credit Suisse, which Bloomberg data show had the best projections for the six quarters through June 2011. The Thai baht will climb 4 percent following a peaceful election on July 3, the bank predicted. Barclays Plc (BARC), which ranked second, expects the Taiwan dollar to perform best with a 4.7 percent advance.

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Maliki’s visit to China soon to expand political and economic relations

Posted: July 5, 2011 in Iraqi Dinar/Politics
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Baghdad (Ali Al Ameri): The Prime Minister Nuri al-Maliki’s close to the People’s Republic of China Based on an official invitation addressed to him earlier .

The Iraqi officials said the visit It is the first Prime Minister to China may be the middle of this month at the head of a delegation of A number of ministers, and which al-Maliki will focus on strengthening cooperation in the aspects Economic, trade and energy, which will renew the call to the Chinese companies To invest in Iraq in critical areas needed by the Iraqi people .

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Bloomberg: Asian Currencies Gain, led by Won, as Greek Concerns Ease on Roll-Over

Posted: June 28, 2011 in Iraqi Dinar/Politics
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By Khalid Qayum and David Yong – Jun 28, 2011

Asian currencies advanced, led by Malaysia’s ringgit and South Korea’s won, on optimism Greece’s creditors will agree to extend the nation’s debt maturities.

The MSCI Asia-Pacific Index of regional stocks gained before Greek lawmakers vote tomorrow on budget cuts and asset sales needed to get future financing. France is working on a plan to roll over 70 percent of Greece’s debt, President Nicolas Sarkozy said yesterday. Taiwan will raise borrowing costs this week and South Korean inflation accelerated in June, according to economists surveyed by Bloomberg.

Read More:  http://www.bloomberg.com/news/2011-06-28/asian-currencies-gain-led-by-won-as-greek-concerns-ease-on-roll-over.html

Bloomberg: South Korean Won Weakens to Three-Week Low, Bonds Gain on Greece Concern

Posted: June 16, 2011 in Asian Currency Markets
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By Seyoon Kim – Jun 16, 2011 1:22 AM CT

South Korea’s won fell to a three- week low as Europe’s deepening debt crisis cooled demand for emerging-market assets. Government bonds gained.

Greek Prime Minister George Papandreou will reshuffle his Cabinet and seek a confidence vote today, battling to control a shrinking majority and push through austerity measures demanded by international lenders.

The political turmoil came as European Union talks on forging a new bailout to prevent the first euro- area default stalled.

Read More: http://www.bloomberg.com/news/2011-06-16/south-korean-won-weakens-to-three-week-low-bonds-gain-on-greece-concern.html

Kuwait Energy Co. signs deals to develop two Iraqi gas fields

Posted: June 5, 2011 in Iraqi Dinar/Politics
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KUWAIT, June 5 Kuwait Energy Company signed on Sunday two deals with the Iraqi Oil Ministry to develop the Siba and Mansuriya gas fields over a 20-year period.

Kuwait Energy’s Board Chairman and Chief Executive, Sara Akbar, who signed the separate deals on behalf of the Kuwaiti company, said the step is the beginning of a productive partnership, and a positive step forward in Kuwaiti relations with Iraq.

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Iraq Commerce Dept: November Baghdad Trade Expo will host 30 countries, 1500 companies

Posted: May 25, 2011 in Iraqi Dinar/Politics
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Iraqi trade as a chamber of Baghdad to organize an exhibition next
25/05/2011 19:09

Baghdad, 25 May (Rn) – the Commerce Department said Wednesday it had formed Iraqi operations room for an exhibition of Baghdad, at its session in November next.

The General Manager of Exhibitions and commercial services endorsed Hussain Sultan, told the Kurdish news agency (Rn) that “the Ministry of Commerce formed an operation room for the organization of Baghdad International Fair 38″, noting that “nearly 30 countries will take part in it, in the presence of approximately 1500 companies worldwide and Arab and foreign countries.”

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Economic parliamentary government is demanding that with help of the international development of the economy in the country

Posted: May 15, 2011 in Iraqi Dinar/Politics
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14/05/2011 16:01

Baghdad, 14 May (Rn) – A member of the parliamentary economic committee Saturday that Iraq needs to make use of international economic centers to convert it from a corporate economy to a market economy.

Said Abdul Hussein Abtan of Kurdistan News Agency (Rn), said that “the Iraqi government claim using the global economic centers in Malaysia and South Korea, Japan and the United Arab Emirates to develop a strategy for the government to transform the Iraqi market of the socialist system to a market system.”

He added that the “survival of the Iraqi economy to its current status without making bold steps to remedy it in accordance with a common vision of government to regulate supply and demand and how the integration of the Iraqi market with global markets, keep him on what it is.”

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Economic parliamentary government is demanding that with help of the international development of the economy in the country

Posted: May 14, 2011 in Iraqi Dinar/Politics
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Baghdad, 14 May – A member of the parliamentary economic committee Saturday that Iraq needs to make use of international economic centers to convert it from a corporate economy to a market economy.

Said Abdul Hussein Abtan of Kurdistan News Agency (Rn), said that “the Iraqi government claim using the global economic centers in Malaysia and South Korea, Japan and the United Arab Emirates to develop a strategy for the government to transform the Iraqi market of the socialist system to a market system.”

He added that the “survival of the Iraqi economy to its current status without making bold steps to remedy it in accordance with a common vision of government to regulate supply and demand and how the integration of the Iraqi market with global markets, keep him on what it is.”

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President Najafi confirms next week will see vote on security ministers

Posted: May 5, 2011 in Iraqi Dinar/Politics
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Thursday, 5 May 2011
Chairman of the House of Representatives confirms that next week will vote on the candidates, security ministries

BAGHDAD – The Feed – The Iraqi Parliament Speaker Osama Najafi, “Iraq’s openness in political and economic relations with all countries of the world and there is flexibility in dealing with it.”
Nujaifi said during a joint press conference held today with the Indonesian Parliament Speaker Ali Marzuki, “The relations between Iraq and Indonesia is not ink on paper, but will be translated to the projects and decisions that are in the interests of both countries.”

He Nujaifi during his visit of Prime Minister Nuri al-Maliki’s recent visit to South Korea that it was successful and fruitful.

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Korean Won Poised for Further Gains

Posted: May 4, 2011 in Asian Currency Markets
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It was in November 2010 that I last blogged about the South Korean won. As a result of the standoff with North Korea and a recent flareup in the eurozone sovereign debt crisis, the won had plummeted.

Still, I viewed these as temporary problems and concluded that,

Ultimately, both the EU fiscal crisis and the tensions with North Korea will subside, which should cause the won to resume its rise.

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