CBI: Ready to intervene if inflation rate exceeds the red line

23/08/2011

Interact issue of rising inflation rates in the country and many specialists as well as citizens concerned about the news related to this, especially since the rise in inflation was not a bit within a year as it ranged from 6 to 7%.

The central bank announced that the annual inflation rate in the country amounted to more than 6 percent this year, with the exception that this rise is equal to twice what it was last year, attributing it to increased inflation, the dollar area at the global level.

Iraq postpone its position on the Mubarak port until after Eid holiday

25/08/2011 19:55

Baghdad, August 25 / August (Rn) – An adviser in the Iraqi government Thursday to postpone the announcement of Iraq’s official position on the port to Mubarak after the Eid holiday.

It was scheduled to make Iraq the official position of the Port Mubarak on Tuesday, according to the news sources and officials.

The Iraqi government denied that the Iraqi technical delegation visited Kuwait recently signed an agreement with the Kuwaiti side on stages set up port Mubarak.

Iraqi List presented 8 candidates to Talabani; Out of mistrust Maliki did not receive names first

Al-Iraqiya Coalition presents candidates for Defense Minister’s post to Iraq’s President i/o PM
8/25/2011 11:58 AM

BAGHDAD / Aswat al-Iraq: Al-Iraqiya Coalition, led by former Prime Minister Iyad Allawi, has presented the names of 8 candidates for the Defense Minister’s post to President Jalal Talabani and not to Prime Minister Nouri al-Maliki, due to the mistrust between al-Iraqiya and the State of Law Coalition’s leaders Allawi and Maliki, al-Iraqiya Member, Talal al-Zuba’e said on Thursday.

The Legislature of the National Coalition, Asma’a al-Moussawi, told Aswat al-Iraq earlier that al-Iraqiya Coalition had presented its 8 candidates for the Defense Minister’s post to the President, but the State of Law Coalition had opposed the measure, demanding the names to be presented to the Prime Minister.

Iraq’s Oil Ministry holds Oil & Gas Conference next month

8/25/2011 2:23 PM

BAGHDAD / Aswat al-Iraq: Iraq’s Oil Ministry has announced on Thursday that it would hold its ‘1st Oil & Gas Conference’ in southern Iraq’s Basra Province next October, a Ministry statement reported.

“The Ministry calls for the participation in the 1st Iraqi Oil & Gas Conference, scheduled to convene in Basra next October, to present researches and studies in this respect,” the statement pointed out, adding that the Conference would be held under the motto: ‘Iraq’s Oil – World’s Future Energy.”

Analysis: Vietnam inflation may have peaked; now the hard part

VietFinanceNews.com – Inflation may have finally peaked in Vietnam. Now comes the hard part for policymakers. It is too early to start unwinding tight monetary policy but pressure to do so will no doubt rise quickly if, as some economists expect, inflation starts to ease in the next month or so.

The stability of Vietnam’s beleaguered $100-billion economy and its attractiveness to investors hinge on whether policymakers stick to their guns, economists say. Also on the line is the credibility of freshly-reappointed Prime Minister Nguyen Tan Dung and his new central bank chief, Nguyen Van Binh.

“The biggest risk to the economy at this stage is a crisis of confidence in policymaking that impacts foreign exchange rates and leads to a significant deterioration in the asset quality of the banking system,” said Johanna Dee Chua, chief Asia-Pacific economist at Citi.

Maliki’s economic adviser says it would be mistake for CBI to raise zero’s now

Economic adviser to Maliki demanded not to change the currency, and warns of a “mafia” is preparing to exploit

Called for an adviser to Prime Minister for Economic Affairs, on Thursday, the Iraqi Central Bank to stop the action to change the currency, warned of “mafias currency” is preparing to rig the trillions of dinars exploited to change the currency, he stressed that it will result in a mass of cash huge hard face.

said Abdul-Hussein Anbuge in an interview for “Alsumaria News”, “Central Bank of Iraq if they insisted on continuing to raise zeros and change the currency, it will make a big mistake in light of economic conditions is stable in Iraq, which will leave a negative impact on the economy”, calling on him to “stop and not to raise the zeros at the moment.”

GOI completes amendments to HCL / Oil and Gas draft law

Iraqi government completed the amendments to the draft law of oil and gas

Baghdad, August 25 / August (Rn) – The adviser in the Iraqi government said on Thursday that the Council of Ministers ended the necessary amendments to the law of oil and gas, and will be submitted to the Parliament after the Eid holiday.

The Committee on oil and energy in the Iraqi Council of Representatives announced Monday, its dependence on the government version of the draft law of oil and gas instead of the version submitted by the last week in the Iraqi parliament session.

Reuters: Fed’s Jackson Hole retreat not always restful

(Reuters) – Central bankers and economists from around the globe will once again flock to the Federal Reserve’s annual gathering in Wyoming this week, and once again will meet against the backdrop of volatile markets and the prospect of further Fed support for a struggling U.S. economy.

The conference in Jackson Hole is designed as a retreat among the serene vistas of the Grand Teton mountains, allowing policy makers to ponder the latest academic thinking without distractions. But in recent years they have been unable to ignore the economic carnage taking place beyond the picturesque valley.

Read More: http://www.reuters.com/article/2011/08/24/us-usa-fed-jacksonhole-retreat-idUSTRE77N50X20110824

Council of Ministers will break for Eid holiday; Aug 30 thru Sept 4

Secretariat of the Council of Ministers sets holiday Eid al-Fitr with “five” days
2011-08-25 10:33:00

The General Secretariat of the Council of Ministers that the holiday Eid al-Fitr has identified five days starting next Tuesday.

The Secretariat of the Council of Ministers said in a press statement that “the holiday of Eid al-Fitr will begin on Tuesday approved 30 of the current month of August and ends on Sunday, day on 4 of next September.”

CBI Daily Currency Auction, August 25, 2011: $164.6 million

The latest daily currency auction was held in the Central Bank of Iraq on the 25-AUG-2011. The results were as follows:

DETAILS	NOTES
Number of banks	19
Auction price selling dinar / US$	1170
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	164,686,000
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	164,686,000
Total offers for selling (US$)	—–

Iraq Business News Editorial: Just How International is Iraq?

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

Iraq Council of Ministers decided to liquidate the Iraqi Airways

Iraqi Airways

Revealed a government source familiar with the Council of Ministers decided on the liquidation of Iraqi Airways, financially and administratively, and offered for sale to private companies, unveiled an official at the airport in Baghdad that the four companies, civil submitted for the purchase of Iraqi Airways, one belonging to the son of a senior official in the Iraqi government.

The source said during a media statement: that the Council of Ministers decided to liquidate and the elimination of Iraqi Airways, offer for sale to a civil companies, pointing out that the Council of Ministers also will eliminate all the administrative structures associated with the company.

The source, who requested anonymity, said the decision came to end the problems faced by the aviation sector of Iraq as a result of prosecutions of Kuwait, which caused the inability of Iraq to buy new planes, indicating that the Council decided to rely on private companies in the process of air transport.

Iraqi List: We are not responsible for the late arrival of candidate names to the PM, Names were given to Pres.Talabani

Iraq’s Talabani and Maliki, with delayed naming Secretary of Defense
THURSDAY, AUGUST 25 / AUGUST 2011

Confirmed the Iraqi List, a Thursday, it is not responsible for the late arrival of a list of candidates for the post of Defense Minister to the Prime Minister, loaded my presidency of the Republic and the government delayed naming Defense Minister Ajraadtha due to the routine.

The Iraqi List, has made the middle of this month, nine candidates for the Department of Defense assigned to them according to the political agreement, led by former Interior Minister Jawad al.

The state of law emphasizes that al-Maliki has not received any list of candidates to defend

Confirmed a coalition of state law, led by Nuri al-Maliki on Thursday that its leader, Prime Minister has not received any list of names of candidates for the defense by the Iraqi List, pointing at the same time that al-Maliki will deal with the list in the event of arrival in accordance with agreed criteria.

The MP said the state law Mohammed Sehud’s (Twilight News) that “the Iraqi List, talk about the provision of nine candidates for the post of defense minister to the media, but the truth so far have not reached these names are formally the commander of the armed forces.”

The Iraqi List, has made the middle of this month, nine candidates for the Department of Defense assigned to them according to the political agreement, led by former Interior Minister Jawad al.

Talabani confirms seek to overcome differences through dialogue with the neighborhood

Prime Minister: the importance of the agreement to improve government performance and build the country

President Jalal Talabani that true partnership is not in the office only, while stressing the importance of dialogue and diplomacy to overcome differences with neighboring countries.

He stressed during his stay for breakfast yesterday at the Peace Palace in Baghdad, Prime Minister Nuri al-Maliki and the Minister on the need to unite the political forces and support government, pointing out that if there were comments or criticisms or suggestions must be submitted to it.

Talabani said: “We believe that if any differences, it is usual that there are differences even within the one-party, it must be resolved through dialogue, discussion and working together.”

Reuters: Analysis – Growth currencies face rocky road from Jackson Hole

(Reuters) – Growth-linked currencies such as the Australian, New Zealand and Canadian dollars could see fresh selling if Federal Reserve Chairman Ben Bernanke disappoints investors banking on more monetary stimulus to support the slowing U.S. economy.

If the Fed chief does not unveil stimulus measures in his annual Jackson Hole speech on Friday, bets on risky assets, including these growth- or commodity-linked currencies, would unwind, pulling them even further from their historic highs.

Read More:  http://www.reuters.com/article/2011/08/24/uk-markets-forex-commodity-currencies-idUSTRE77N5SH20110824

CNBC: Libya to Resume Oil Production, Markets Eye Jackson Hole

Post-Gaddafi Libya could begin pumping oil in the next few months, as rebels secured oil infrastructure around Tripoli and edged closer to taking complete control of the country. However, oil markets are shifting their attention to concerns that the US might undertake further fiscal stimulus.

Transitional National Council (TNC) forces surged into the Libyan capital on the weekend, taking much of the city. By Tuesday evening they had overrun Muammar Gaddafi’s, Bab Al-Aziziya compound, although the leader himself is yet to be found.

Rad More: http://www.cnbc.com/id/44252979

Shell is facing challenges in terms of gas contracts in Iraq

Are likely to face Shell delays regarding transaction of $ 17 billion, which concluded with Iraq, the lack of infrastructure, and appropriate methods of export of gas.

Where there are links with investors from others in the oil fields associated with. The contracts agreed with the oil companies do not include the gas associated with oil production, which allowed them to that use the associated gas production in oil operations, and to re-inject the gas to get the oil reserves.

Dow Jones: Kuwait Central Bank – Peg to currency basket shields economy

Zawya Dow Jones/Dubai

Kuwait’s top banker said he remained content with the peg of the dinar to a basket of currencies as it has helped shield the local economy from US dollar fluctuations and increase stability, at a time of volatility in global currency markets.

Kuwait Central Bank governor Sheikh Salem Abdulaziz al-Sabah told Zawya Dow Jones in an emailed response to questions that the dinar’s peg to a currency basket “is assessed as having assisted in shielding Kuwait from the often volatile fluctuations in the values of other currencies, and in turn inducing a measure of stability to the local economy.”