Snip ~ And Shabibi: The Central Bank of the follow-up ~ budget allocations of government in order to adjust the exchange rate and reduce the processing imbalance ..
Last year .. http://video.foxbusiness.com/v/4321880/iraq-central-bank-gov-hopeful-on-economySnip ~ And Shabibi: The central bank is following up the government budget allocations in order to adjust the exchange rate and reduce the processing imbalance Tuesday 08/02/2011
Shabibi: the independence of the Central Bank of the umbrella of a protector of state funds
Baghdad (news) .. called Central Bank Governor Sinan Shabibi bank independence because the umbrella of a protector of state funds. Shabibi said to contact the Agency (news): "The granting of independence to the Central Bank is of great significance because it is the umbrella of a protector of state funds", Adding: "But The government that I understand that the Bank's isolated to it, but we are working with the market and the government significantly."
He added Shabibi: can not separate the government and the central bank because the importance of monetary policy depends according to the law on cooperation with the government. He noted that the basis of the economy, the Bank is to fight inflation, which gets because of the government or the private sector, and works on the application of monetary policy both in the interest rates to stabilize the growth and support banks in crisis through direct coordination.
And Shabibi: The Central Bank of the follow-up budget allocations of government in order to adjust the exchange rate and reduce the processing imbalance ..
http://ikhnews.com/news_view_8170.html
July 28, 2011UNAMI mandate
Through its resolution 2001, adopted on 28 July 2011, the Security Council extended the mandate of UNAMI until 31 July 2012. The Mission is mandated “as circumstances permit” and “at the request of the Government of Iraq” to:
1. Advise support and assist the Government of Iraq in:
a. advancing their inclusive, political dialogue and national reconciliation;
b. development of processes for holding elections and referenda;
c. constitutional review and the implementation of constitutional provisions;
development of processes acceptable to the Government of Iraq to resolve disputed internal boundaries;
d. facilitating regional dialogue, including on issues of border security, energy, and refugees;
e. planning, funding and implementing reintegration programmes for former members of illegal armed groups;
f. initial planning for the conduct of a comprehensive census;
2. Promote, support, and facilitate, in coordination with the Government of Iraq:
a. The coordination and delivery of humanitarian assistance and the safe, orderly, and voluntary return, as appropriate;
b. The implementation of the International Compact with Iraq, including coordination with donors and international financial institutions;
c. The coordination and implementation of programmes to improve Iraq’s capacity to provide essential services for its people and continue active donor coordination of critical reconstruction and assistance programmes through the International
d.Reconstruction Fund Facility for Iraq (IRFFI);
e. Economic reform, capacity-building and the conditions for sustainable development, including through coordination with national and regional organizations and, as appropriate, civil society, donors, and international financial institutions;
f. The development of effective civil, social and essential services, including through training and conferences in Iraq when possible;
The contributions of United Nations agencies, funds, and programmes to the objectives outlined in this resolution under a unified leadership of the Secretary-General through his Special Representative for Iraq;
3. And also promote the protection of human rights and judicial and legal reform in order to strengthen the rule of law in Iraq; source
July 25, 2011
Iran in '$10bn deal to export gas to Europe'
Iran has signed a preliminary $10bn (£6.25bn) deal with Syria and Iraq to export some of its natural gas, local media have reported.
The memorandum of understanding signed by oil ministers from the three countries would see a 3,100 mile pipeline built through Iraq, Syria and Lebanon to the Mediterranean.
The deal may allow exports of gas to Europe - according to the Iranian Oil Ministry's website, Shana.
It would also supply gas to Syria.
Iran has roughly 28 trillion cubic meters of natural gas - the second largest reserves in the world according to research by BP.
The pipeline would allow it to export gas from the South Pars field, which it shares with Qatar.
Qatar is currently a major gas exporter to the UK - though that comes from different fields.
July 25, 2011
China And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse
One of the more notable events in the past week was the previously discussed reopening of the Iranian Oil Bourse, an attempt by Iran to launch a venue that bypasses US sanctions against Iran which has prevented payment in the world’s reserve currency for Iranian goods. “Big deal”, some will say, this is not the first time Iran has attempt to upstage the Great Satan. Well, true, although as OilPrice said last week, “what it would take for Iran’s new exchange to survive and flourish are some heavy-duty customers that Washington would be wary of picking a fight with, and Tehran already has one – China… China, the world’s largest buyer of Iranian crude oil, has renewed its annual import pacts for 2011. In 2010 Iran supplied about 12 percent of China’s total crude imports.
According to the latest report of the China Customs Organization, Iran’s total oil exports to China stood at 8.549 million tons between January and April 2011, up 32 percent compared with the same period last year. Iran is currently China’s third largest supplier of crude oil, providing China with nearly one million barrels per day.” Still, the perceived provocation to Uncle Sam should China go ahead and slap America in the face by accepting the existence of the Kish exchange, would echo around the world. Which is why many don’t think much if anything will happen. Until today, that is: according to the FT, China has decided to commence an barter system in which Iranian oil is exchanged directly for Chinese exports. The net result: not only a slap for the US Dollar, but implicitly for all fiat intermediaries, as Iran and China are about to prove that when it comes to exchanging hard resources for critical Chinese goods and services, the world’s so called reserve currency is completely irrelevant. The implications of this are momentous, especially for US debt, whose indomitability is only predicated upon the continued acceptance of the currency it backs as a global reserve.
If China is now openly admitting to the world that it does not need US monetary intermediation, and by implication, the “debt” backing said intermediation, what then? And who will follow China next?
read more @
http://politicalmetals.com/
July 25, 2011
WELLS FARGO OFFERS IMMEDIATE CURRENCY EXCHANGE IN ATLANTA
by Trevor Williams
Wells Fargo has opened international teller windows at 18 branches in metro Atlanta, allowing travelers to instantly buy or sell foreign currencies.
Previously, the bank had to order currencies for customer delivery. Now, travelers can walk into the bank just before a trip and walk out with the cash they'll need when they hit the ground overseas.
"Many travelers need foreign currency as soon as they arrive at their travel destination for expenses like taxis, tips or meals," Darryl Harmon, Southeast regional president, said in a news release.
With 21 international teller locations including branches in Savannah and Evans, Georgia is one of the first three eastern states to receive the service. Wells Fargo has opened 13 more sites in Alabama and Tennessee.
The service, which is also available for non-customers, has been offered in the San Francisco-based bank's western U.S. branches since 1999.
Financial Challenges Facing Foreign ExecutivesLatin American Association Elects New Board Chair and MembersDecatur School for Refugee Girls Seeks 'Head of School' Foreign Passports No Longer 'Secure and Verifiable'Immigration Legislation Affecting Companies Still Up in the Air
Visit - http://www.wellsfargo.com/foreignexchange
or call 1-800-xxx-xxxxto find the nearest location offering the service.
July 24, 2011
Prime Minister announces near the application of tax law and customs tariff
Baghdad, announced that the Prime Minister, Sunday, close the application of tax law and customs tariff to include primarily the goods and imported goods, which can be manufactured locally, as indicated to the exclusion of goods with a direct contact with the lives of citizens.
The Economic Adviser to the Prime Minister Abdul Hussein Al-Anbuge in an interview "Alsumaria News", "Tax Law and the Law on customs tariff is important, essential, and will be applied soon," adding that "the more goods direct contact with the life of the citizen and which are inputs to production as raw materials or semi-manufactured is exempt from tax." The Anbuge that " more goods that are subject to tax and high levels are items that can be manufactured locally, but stalled because of competition and dumping, which is practiced upon by the imported goods, "pointing out that" the tax law is the law of correction will help the industries and local products a lot."
