08/05/2011
Planning Department completed a draft electronic
BAGHDAD - morning
Ministry of Planning announced the completion of the draft e-ministry, which will begin its work this month. He said Planning Minister Ali Shukri through a press statement: that the Ministry of Planning completed a draft ministry electronic through energy functional process, stressing that the process of activating the circulation of administrative mail would be to get rid of the episodes of excess speed in completing projects of the ministry planning.
"He added that" the proposed ministry electronic is the beginning of launch of e-government project in which they operate by the government and which is expected to be completed after the end of each ministry of electronic connectivity. "and said the Iraqi Planning Ministry on 15 March it had formed a committee to complete the circle of electronic information associated with circles ministry among them as well as to monitor the work planning and address the imbalance.
And that "the Ministry of Planning will deal with the Chambers e-government system, which is an important step in the progress of management style in the ministry and getting rid of bureaucracy and administrative delays in the completion of transactions and projects."
http://www.alsabaah.com/ArticleShow.aspx?ID=7143
Sunday, May 8, 2011
Thursday, May 5, 2011
Friday, April 22, 2011
Cross-Currency Swaps
Currency swap An agreement between two parties to exchange aspects (namely the principal and/or interest payments) of a loan in one currency for equivalent aspects of a loan in another currency at some point in the future according to a specified formula. Currency swaps are over-the-counter derivatives and are closely related to interest rate swaps. However, unlike interest rate swaps, currency swaps generally involve the exchange of the principal. (Also known as a “crosscurrency swap”).
April 22, 2011
How to value a cross-currency swap
Since the first transaction in 1981 between the World Bank and IBM, the market of cross-currency swaps has grown rapidly. It represents, according to the Bank of International Settlements, an outstanding notional amount of USD 16,347 billion as per June 2010. In this article we will discuss how cross-currency swaps work, and how to value them.
A cross-currency swap (CCS), can have different objectives. It can reduce the exposure to exchange rate fluctuation or it can provide arbitrage opportunities between different rates. It can be used for example, if a European company is looking to acquire some US dollar bonds but does not want to expose itself to US dollar risk. In this case it is possible to do a CCS transaction with a US-based bank. The European company is paying in euros and receives a (fixed) US dollar cash flow. With these flows the European company can meet its US dollar obligations. The valuation of a CCS is quite similar to the valuation of an interest-rate swap. The CCS is valued by discounting the future cash flows for both legs at the market interest rate applicable at that time. The sum of the cash flows denoted in the foreign currency (hereafter euro) is converted with the spot rate applicable at that time. One big difference with an interest-rate swap is that a CCS always has an exchange of notional.
Looking at a CCS with a fixed-fixed structure (both legs of the swap have a fixed rate), the undiscounted cash flows are already known at the start of the deal, they are simply the product of the notional, the fixed rate and the year fraction.
The discounting of the cash flows requires a more complex method. The US dollar curve is the base of everything and is, therefore, not different from valuations of plain vanilla US dollar interest-rate swaps. Looking at a euro/US dollar CCS, the eurocurve (excluding credit spreads) is made of two parts:
The euro interest rate curve and
The basis spread.
This basis spread curve represents a ‘compensation’ for the changes in the forward FX rates between the two currencies used in the swap. Before the global credit crisis this spread was close to zero. Nowadays, the spread ranges from 18 basis points (bp) (10-year spread) to 40bp (one-year spread), but reached 120bp as shown by figure 1.
Tuesday, April 19, 2011
Central Bank: Time to re-evaluate the currency in proportion to the price changes in the economy and the Cubs
April 19, 2012
Central Bank: Time to re-evaluate the currency in proportion to the price changes in the economy and the Cubs
May not remain there needs to counter this works so quickly if applied to the Central Bank of his project by deleting three zeros from the Iraqi currency
The Bank, which paints a monetary policy of the country confirms that it is time to re-evaluate the currency changes to suit the price and the Cubs in the economy
The appearance of Mohammed Saleh / Advisor Central Bank of Iraq (Iraq after five years on the verge of producing a major oil 6 million to 12 million barrels of oil Iraq would be a regional power in the management of the world's energy will be the proceeds of a large and monetary system, the current system of management of the currency in this way is a product of phase lag Like it or not necessary management of the currency reform after five years claimed the block becomes large cash) stores and banking companies were not enthusiastic about the project, which it says that its application may cause economic problems or technical unnecessary at the present time.
His place of Banking (the Mo at the time because if Mistqr country's economy and stabilize the price the central bank buying and selling of the dollar Menkdr use the lifting of the zeroes) shop owner Banking (this thing we Menkdr we identify TOGETHER question depends on the application may appear dimensional problems may Balfruqat fractures things and things hobby art) As for the citizens, the deletion of zeros bring them back in memory to the days of the power of the Iraqi dinar which is welcomed by some, while it seemed the others are not convinced of the possibility of application of a citizen (and God Kalash ok suggested raising the Iraqi economy and brings us back days dinar money before Old Jean god value and Tasirlh purchasing power and the States they are) citizen (is the same thing if the lifting of the zeroes is the dinar Maltna and originally even abroad Mahd received by) a citizen (for the lifting of the zeroes FD Shi logical because instead of Miasir words Baltrliun become billions even people Fhm) As for the economists Fatmonon The issue of deletion of zeros would not be a difference in dealing cash or affect in any way on the Iraqi economy unless they take into account the changing value of exchange in relation to the dollar on the gnathion NA / Economist: (this is the process of administrative belonging to the Central Bank itself in the management of currency and for the economy will remain only if the change rate of the Iraqi dinar for example, now is the dollar, 1180 JD permissible if Swoh means 3 whistle 118 or you will be 1.0 that Alukt if it became one interval zero dinar to the dollar means to improve the purchasing power of the dinar) and show the CBI reservations of criticism and reactions that have been raised about the project to delete the zeros from the currency, noting that his project is based on the study Extensive serve the Iraqi economy will end the event to the Council of Ministers and House of Representatives
source
Central Bank: Time to re-evaluate the currency in proportion to the price changes in the economy and the Cubs
May not remain there needs to counter this works so quickly if applied to the Central Bank of his project by deleting three zeros from the Iraqi currency
The Bank, which paints a monetary policy of the country confirms that it is time to re-evaluate the currency changes to suit the price and the Cubs in the economy
The appearance of Mohammed Saleh / Advisor Central Bank of Iraq (Iraq after five years on the verge of producing a major oil 6 million to 12 million barrels of oil Iraq would be a regional power in the management of the world's energy will be the proceeds of a large and monetary system, the current system of management of the currency in this way is a product of phase lag Like it or not necessary management of the currency reform after five years claimed the block becomes large cash) stores and banking companies were not enthusiastic about the project, which it says that its application may cause economic problems or technical unnecessary at the present time.
His place of Banking (the Mo at the time because if Mistqr country's economy and stabilize the price the central bank buying and selling of the dollar Menkdr use the lifting of the zeroes) shop owner Banking (this thing we Menkdr we identify TOGETHER question depends on the application may appear dimensional problems may Balfruqat fractures things and things hobby art) As for the citizens, the deletion of zeros bring them back in memory to the days of the power of the Iraqi dinar which is welcomed by some, while it seemed the others are not convinced of the possibility of application of a citizen (and God Kalash ok suggested raising the Iraqi economy and brings us back days dinar money before Old Jean god value and Tasirlh purchasing power and the States they are) citizen (is the same thing if the lifting of the zeroes is the dinar Maltna and originally even abroad Mahd received by) a citizen (for the lifting of the zeroes FD Shi logical because instead of Miasir words Baltrliun become billions even people Fhm) As for the economists Fatmonon The issue of deletion of zeros would not be a difference in dealing cash or affect in any way on the Iraqi economy unless they take into account the changing value of exchange in relation to the dollar on the gnathion NA / Economist: (this is the process of administrative belonging to the Central Bank itself in the management of currency and for the economy will remain only if the change rate of the Iraqi dinar for example, now is the dollar, 1180 JD permissible if Swoh means 3 whistle 118 or you will be 1.0 that Alukt if it became one interval zero dinar to the dollar means to improve the purchasing power of the dinar) and show the CBI reservations of criticism and reactions that have been raised about the project to delete the zeros from the currency, noting that his project is based on the study Extensive serve the Iraqi economy will end the event to the Council of Ministers and House of Representatives
source
Tuesday, April 12, 2011
Iraq's Transit trade and free zones ...
04/12/2011
Transit trade and free zones
Yasser incumbent
There is global consensus that Iraq is on his way to assume the lead as an economic powerhouse in the region, especially after its entry in energy investments and to check out the exploitation of an optimum post-oil contracts signed with major international companies and most recently investment SOC.
Reflected the strength of Iraq's economic strategic location geographical through panoramic view of the number of global markets, the task especially the GCC, Turkey, Iran, Jordan and Syria, according to experts as well.
This feature makes it a promising market in the possibility of being used to transit trade corridor to these markets among themselves, and indicate the current events in the region to the possibility of this transformation, especially the announcement by Turkey days before the transfer of trade by Iraq rather than Syria, meaning that it is likely to play a major role in global activity.
Continues ...read more ..
Transit trade and free zones
Yasser incumbent
There is global consensus that Iraq is on his way to assume the lead as an economic powerhouse in the region, especially after its entry in energy investments and to check out the exploitation of an optimum post-oil contracts signed with major international companies and most recently investment SOC.
Reflected the strength of Iraq's economic strategic location geographical through panoramic view of the number of global markets, the task especially the GCC, Turkey, Iran, Jordan and Syria, according to experts as well.
This feature makes it a promising market in the possibility of being used to transit trade corridor to these markets among themselves, and indicate the current events in the region to the possibility of this transformation, especially the announcement by Turkey days before the transfer of trade by Iraq rather than Syria, meaning that it is likely to play a major role in global activity.
Continues ...read more ..
Subscribe to:
Posts (Atom)