Kuwait guarantees to stop work in the fourth phase of the port of Mubarak

Friday, August 19 – 2011 16:52

Condition of the Kuwaiti side in the talks with the Iraqi delegation to provide guarantees to stop the work in the fourth phase of Mnia Mubarak’s peace and the Kuwaiti side, according to a source in the Iraqi Foreign Ministry of the Technical Committee of Iraq, who visited Kuwait terms to stop work in a closed did not reveal the external content

source described in a statement to Al-Hayat negotiations Iraq-Kuwait a success and said that the information was referring to the construction of the port will be on four stages, but the Kuwaiti side, told the Technical Committee that he would be in three stages under the conditions of Kuwait and the source continued that the information circulated about the existence of the Firth impede navigation of Iraq will not be achieved if the government’s approval Iraqi conditions of Kuwait and to stop the work in the fourth stage.

Inflation exhausts the economy of Iraq

Friday, 19 August 2011

The appearance of Qasim Deputy Governor of the CBI that the rate of core inflation rose to 7.1 percent in July from 6.4 percent in June due to rising rents and increases in the prices of construction materials.

He said that the slow response by the government to address the acute housing shortage contributed to the continued rise in prices. He added that 60 percent of households in Baghdad do not have houses. Iraq is facing a severe shortage of housing after years of war, sanctions and officials say it needs to be between 2 and 3 million housing units to meet population increase.

Shabibi .. Is it enough to replace the Iraqi currency to save it from collapse?

2011-08-06

In the past years have fallen Iraqi dinar value due to inflation and deterioration caused by economic sanctions imposed on Iraq after the Kuwait war, through the fall of Baghdad in 2003, to turn into a semi massacres day.

All these factors made the value of the dinar is going down, prompting the central bank in the same year resort to the adoption of a new mechanism to maintain the dinar’s exchange rate lies in the development of an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and converted to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, but it was not enough to save the value of their currency collapse, under the terms of the price fall to become a day about 1120 dinars per dollar. ,

Finance Ministry, World Bank discuss Iraqi 2012 budget

8/19/2011 1:59 PM

BAGHDAD / Aswat al-Iraq: The Iraqi Minister of Finance Rafi al-Issawi discussed with the World Bank director in Iraq, Maria Helen Keller, the budget for 2012.

Both sides discussed the final draft, according to a statement issued by the ministry.

The statement tackled “the differences in oil prices and their effects on the federal budget,” highlighting that the budget should be submitted to the cabinet by September.

The ministry intended to present the budget by next September for study, discussion and approval by the parliament by the end of the year, not like previous years.

http://bit.ly/mY86EK

CBI Deputy Governor discusses July increased inflation rate

CBI: high annual inflation for the month in 2010 compared Tmosalmadi

Baghdad, August 19 / August (Rn) – Deputy Governor of Central Bank of Iraq, Friday, that the rise in inflation for the month of July in 2011 compared Balchehrnevsh of 2010 by 7.1% after it was last year’s 2.4% due to higher prices of allowances for rental residential buildings .

The Ministry of Planning and Development Cooperation for the annual general inflation for the month of July by 6.2% ..

The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the rise in inflation for the month of July in 2011 compared Balchehrnevsh of 2010, which amounted to 7.1%, up from last year’s 2.4% return causes the high prices of allowances Astijaralldor housing in the country.”

Ministry of Oil: oil and gas law will put an end to the interpretations of the disputed

Spokesman said the Oil Ministry, Wednesday, that the oil and gas law has been prepared by experts in the field of oil in cooperation with the ministry, explaining that the law regulates the proper administration of the country and put an end to controversial interpretations.

Said Asim Jihad told Aswat al-Iraq that “oil and gas law has been prepared by experts in the field of oil in cooperation with the Ministry of Oil,” noting, “it was the law to the Commission on oil and energy parliamentary and has been the changes more than once and thus after the approval of the Energy Commission and the Council Minister on the draft law was submitted to the parliament for discussion and for approval. ”

State of Law, Maliki deny receiving Iraqi List candidates for Defense Ministry

State law to deny the Iraqi candidates for the defense portfolio
19/08/2011 13:31

Baghdad, August 19 / August (Rn) – denied a coalition of state law, led by Prime Minister Nuri al-Maliki on Friday, which said the Iraqi List, by providing nine candidates for the defense portfolio to the President, Jalal Talabani, indicating that al-Maliki has not received the names of any candidate for the defense by Talabani, although the end of the prescribed period.

The Iraqi List, said in a statement issued yesterday for the first nine candidates to provide the defense portfolio to the President, Jalal Talabani, in order to choose one of them by Prime Minister Nuri al-Maliki.

Iraq says resolving the crisis with Kuwait

Posted 19/08/2011 07:00 AM

BAGHDAD (Jawdat Kadhim) announced the Iraqi Foreign Ministry resolving the crisis caused by the establishment of the port with Mubarak Kuwait .

A source at the Foreign Ministry told «life», that «the technical delegation who visited the Kuwait headed by the Chief Adviser to the Prime Minister Thamer Ghadban, the field trips at the site of Port Mubarak and held lengthy meetings with senior officials in Kuwait to discuss the implementation mechanism Port project without damaging the interests of Iraq ».

The source, who requested anonymity, that «the negotiations led by the Minister of Anger Foreign Affairs Hoshyar Zebari, resulted in the form of an initial stop at the borders of the third phase Of the project, provided that the remaining fourth stage subject to the approval of Iraq to some of the safeguards Kuwait requested ».

Iraq’s Warka Bank is preparing to merge with Standard Chartered Bank of Great Britain

Announced the «Bank« Warka »near the Iraqi Special integration with« Standard Chartered »British, at the request of the Iraqi Central Bank raising capital all private bank to 250 billion Iraqi dinars (200 million dollars) before the end of 2013.

The Executive Director of «Warka» Mohammed al-Samarrai and the existence of an agreement for integration reached its final stages between the two banks, Iraqi and British, giving the first bank’s ability to finance major projects. He stressed that the integration of the bank with a giant foreign corporation will increase the confidence of customers and the government and the Central Bank of Iraq.

Iraq hopes to increase oil exports

Said Iraqi Oil Minister Abdul-Karim and coffee on Tuesday night that his country is working to raise the ceiling on crude oil exports to 2.5 million barrels per day next year.

He told reporters during a coffee for breakfast organized by the Ministry of Oil ‘now that the figures for exports of oil rose and reached 2.2 million barrels a day after it was last year’s 1.89 million barrels per day .. Our goal is to increase oil exports to 2.5 million barrels next year after completing the first stage of building a floating city of Basra.

7.1% inflation in Iraq in July

An official at the Iraqi Central Bank said yesterday that core inflation rate rose to 1.7 percent in July from 4.6 percent in June. He attributed the appearance of Qasim, deputy governor of the CBI, told Reuters in inflation to rising rents and increases in the prices of construction materials.

On the other hand the Iraqi Grain Board said yesterday that Iraq bought 30 thousand tons of rice from Uruguay in the latest tender conducted.

Deputy for Maliki’s coalition criticized the management of the security ministries and the Agency is mandated Dulaimi stimulation of the blocks

Criticized the deputy of a coalition of state law, led by Prime Minister Nuri al-Maliki, on Friday, management of the security ministries acting in the security situation gripping the country, while considered mandated Maliki to Culture Minister Saadoun al-Dulaimi, to assume the defense ministry and agency stimulation of the political blocs to find qualified candidates , invited them to choose personalities efficient to fill the security ministries and put an end to security breaches.

said Bahaa al-Jamal al-Din said in a statement issued today, and received “Alsumaria News”, a copy of “The security ministries can not remain without ministers with the current situation and events security taking place in the country, “saying” the nomination of Saadoun al-Dulaimi by Prime Minister Nuri al-Maliki, the Department of Defense Agency to stimulate the political blocs to speed up finding qualified candidates for this ministry mission in the country. ”

Proposed law to parliament to resolve the differences in the disputed areas

Posted 19/08/2011 10:00 AM

BAGHDAD (Rn) said the decision of the Iraqi parliament, on Friday, that he had submitted a proposed law aims of the political blocs to resolve the differences in the disputed areas, indicating that the proposal has received the blessing by the American side.

Said Mohammad Khaldi, told the Kurdish news agency (Rn), that “by virtue of seeing the disputed areas in Diyala province, and the problems faced by these regions has provided a proposed law aimed at the formation of battalions security components that inhabit the disputed areas provided that the regiments are based on the balance between the components Arab, Turkoman and Kurdish. ”

National Alliance confirms intent to withdraw from hearings if Oil/Gas Law is introduced without submission to executive branch first

National confirms repeat his withdrawal from the parliament if it continued to view the oil law

National Alliance bloc announced Friday, for continuing to boycott meetings of the Council of Representatives in the event of introduction of the draft law of oil and gas again.

The National Alliance bloc withdrew from the meeting of the Council of Representatives following the submission of the oil and energy parliamentary bill that proposed oil and gas.

The MP for the National Alliance mass gift of hope in an interview (Twilight News) The mass will continue its withdrawal from the meetings of the Council of Representatives in the event of introduction of the draft law of oil and gas again the fact that this project has not been submitted to the executive branch.

CNBC: Analysts say Singapore Dollar the New Safe Haven

The Singapore dollar, which has risen about 14 percent versus the U.S. dollar in the 12 months to June, is now being looked at, by some analysts, as the next safe haven currency.

“The currency belongs to a country that has a triple AAA rating and which is attractive to investors. The country is also fiscally healthy with a strong balance sheet,” Stuart Oakley, Head of Emerging Markets FX Trading at RBS, told CNBC.

Read More: http://www.cnbc.com/id/44184874

NY Times: Iraq Leader Says the Arab Spring Benefits Israel

BAGHDAD — While Western leaders including President Obama called on President Bashar al-Assad of Syria to step down, Iraq’s prime minister, Nuri Kamal al-Maliki, warned Arab leaders in a speech on Thursday that Israel would benefit the most from the Arab Spring.

“There is no doubt that there is a country that is waiting for the Arab countries to be ripped and is waiting for internal corrosion,” he said in Baghdad. “Zionists and Israel are the first and biggest beneficiaries of this whole process.”

Read More: http://www.nytimes.com/2011/08/19/world/middleeast/19iraq.html

UN Security Council condemns deadly attacks in Iraq

UNITED NATIONS (BNO NEWS) — The United Nations (UN) Security Council on Thursday condemned in the strongest terms a series of terrorist attacks across Iraq on Monday, killing as many as 80 people and injuring hundreds.

The Security Council, which is composed of five permanent members and ten non-permanent members, expressed its deep condolences to the families of the victims and reaffirmed their support for the Iraqi government and the Iraqi people.

Read More: http://wireupdate.com/wires/19545/un-security-council-condemns-deadly-attacks-in-iraq/

 

Gold and Fiat Currency: Forty Years Later

Today, Monday, August 15, 2011, marks the 40th anniversary of the US default on the dollar’s convertibility into gold. It was the world’s de facto reserve currency and thus began an experiment with a reserve fiat currency that was doomed to failure before it began, because there has never been a successful fiat currency in all of history.

August 15, 1971 was just like any other day for most people, and President Nixon’s unprecedented decision to cut the US dollar’s gold international convertibility was largely ignored by the public. The majority of citizens didn’t understand the implications for their financial future. Contrast that to today, where a historic downgrade of US debt and a very public $2-trillion increase of the debt ceiling dominated headlines and the television news.

Vietnam is Asia’s fastest growing bond market

VietFinanceNews.com – Viet Nam’s bond market has experienced a significant year-on-year rise in growth during early 2011 compared with 2009 and 2010.

This compares to several regional countries that have shown a significant decline. Experts say this shows Viet Nam’s strong resilience in a volatile global financial environment.

The Asian Development Bank’s Asia Capital Markets Monitor for August stated that with only US$16 billion worth of total bonds outstanding, Viet Nam’s local currency bond market grew 42.8 per cent year-on-year in Quarter One this year after expanding 34.2 per cent in 2010, making it the fastest-growing bond market in Asia since 2009.