Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

A view in the banking sector

Still banking sector continues to achieve the highest circulation in the market, Baghdad Stock Exchange, making it at the forefront ..In a meeting on Tuesday 21/10 achieved the highest proportion of shares of banks, amounted to 93.2% as trading volume of 80.8% and Bbulg us to the forefront of this, the large difference between him and the separation industry in terms of the number of traded shares by 4.4% and hotel sector, which has the second largest Volume by 14,3% as well as it failed to specialists in the economic aspect that the banking sector is almost the basis for any player investment approach.

In addition, the Iraqi banking sector and by the interest rate offered by the Central Bank has become the focus of attention of local and foreign investors and this explains the reluctance of foreign capital to enter - Badyalammer - in other economic sectors.

And information available in this regard is that financial institutions from Britain, Iran and the Arab Gulf and Jordan Lebanon announced its entry partners with a number of Iraqi banks, and revenues increased capital with Iraqi banks, the minimum for participation in the Bank Mouncurellastosmar ratio of 23.2%, the ratio increased regional cooperation in the bank than the rate in question amounted to 73% as the bank opened for a special Guide Wide some of the risks, despite the benefits derived from the knowledge and technical progress enjoyed by foreign banks can reflect on the work of our banks and workers.

But the danger comes from the fear that foreign capital accounts and their owners to the largest proportion of capital or Iraqi banks The departments at a time when we expect to open wide the doors of capital from abroad to open new branches of the giant global banks and is therefore the banking sector to foreign wills is likely to be affected by what happens in their countries of events and shocks have an adverse effect on our financial, particularly the open-ended And without time restrictions Tw of our interests, that is what alerts us to the global financial crisis, which gave the world lessons in severe financial policy based on participation systematic threats to tens of millions of workers within the states and the countries of European and Asian, African and others were great, as many negative effects Not companies, stock exchanges, banks and the real economy, but also the future of the economy in a recession or depression universal.

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Lower demand for dollar at CBI auction

Demand for the dollar went down at the Central Bank of Iraq (CBI) auction on Tuesday, registering $121.960 million, compared to more than $221 million in the previous session.

The demand hit $29.260 million in cash, covered by the bank at an exchange rate of 1,179 and $92.700 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,176 Iraqi dinars per dollar.

None of the 14 banks that participated in today’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

Lower demand for dollar at CBI auction : Aswat Al Iraq

Barzani says Iraq-US security pact dominates his talks with Rice

Massud Barzani, the president of Iraq's northern Kurdish government, said his talks on Tuesday with US Secretary of State Condoleezza Rice focused on a controversial draft Iraq-US military pact.

"The issue of the strategic agreement was the main theme of the meeting," Barzani told reporters following his talks with Rice in Washington, adding it was "discussed in detail."

However, Barzani said he had no details about proposed changes to the Status of Forces Agreement (SOFA) that is designed to lay out the rights and responsibilities of US forces in Iraq after a UN mandate expires at the end of the year.

"I'm not aware of the latest amendments because I was traveling during the meeting," he added.

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Iraqi Govt. dispatches proposed changes on pact to U.S. Ambassador

A close source from the Iraqi government said that the latter sent the proposed changes on SOFA to the U.S. Ambassador in Iraq Ryan Croker.

The source added in a statement that the changes included 5 items in addition to linguistic amendments.

Bearing in mind, the Iraqi government Spokesperson Dr. Ali al-Dabbagh said yesterday that the resolution of the council of the ministers to renegotiate with U.S. on pact came after making a number of changes on its items clarifying that a number of ministers representing various political blocs in Iraq suggested the changes that were described by al-Dabbagh as essential.

PUKmedia :: English - Iraqi Govt. dispatches proposed changes on pact to U.S. Ambassador

Iraq Ministry of Transportation to sign contracts with European airlines

An official in the Ministry of Transportation said that the Ministry coordinates with a number of European airlines in order to start trips from Baghdad towards European countries.

The source added that there is an understanding with Air France French Company in a bid to start trips from Iraq towards European countries.

To that other European airlines would like to start trips from Iraq towards Europe, East Asia and USA after the international openness towards Iraq.

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U.S. reviews Iraqi amendments to troops’ Pact

The United States said on Wednesday it was examining changes demanded by Iraq to a stalled security pact that sets the conditions under which American troops could operate in the country after this year.

Iraq announced last week that it wanted changes to a final draft hammered out after months of negotiations with Washington, which would replace a U.N. Security Council mandate for U.S. troops that expires at the end of 2008.

Failure to seal the pact or renew the U.N. mandate would mean U.S. operations would have to be halted. The draft agreement calls for a drawdown of U.S. forces from Iraq by the end of 2011 and includes a U.S. concession on immunity for U.S. troops who breach Iraqi law.

Both sides say they are eager to save the agreement before the Security Council resolution expires. The Iraqi cabinet has moved quickly, approving the proposed changes on Tuesday and sending them straight to the Americans.

"We got them. We are looking at them," embassy spokeswoman Susan Ziadeh said of the proposed amendments.

The Iraqi amendment proposals have not been made public, but Iraq's government spokesman Ali al-Dabbagh said on Tuesday that they included changes to some of the "content" of the text as well as its wording.

U.S. officials did not hide their frustration when Iraq said it wanted amendments to a pact that appeared to be finalized after months of painstaking negotiations with a team of senior advisers hand-picked by Prime Minister Nuri al-Maliki.

The pact must also be sent to parliament for approval.

Washington has made clear it does not want to renegotiate the substance of the agreement, which already includes a number of important concessions to Baghdad, including a firm withdrawal date of 2011 and the power to try U.S. soldiers for serious crimes committed while off duty.

But accepting the pact has been politically challenging for Iraqi leaders, including Maliki's own ruling Shi'ite coalition which has historic ties to Washington's arch foe, Iran.

Environment Minister Nermeen Othman, who attended Tuesday's cabinet meeting, said the amendment proposals were mainly intended to remove ambiguities and would not alter the clause covering criminal jurisdiction over U.S. troops.

PUKmedia :: English - Home

Dollar demand plunges in CBI auction

Demand for the dollar was significantly down at the Central Bank of Iraq (CBI) auction on Wednesday, registering at $74.020 million, compared to $121.960 million in the previous session.

“The demand hit $26.770 million in cash, covered by the bank at an exchange rate of 1,179 Iraqi dinars per dollar; and $47.250 million in foreign transfers outside the country at an exchange rate of 1,176 Iraqi dinars per dollar,” according to a release issued by the CBI.

None of the 17 banks that participated in the session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

Dollar demand plunges in CBI auction : Aswat Al Iraq

U.S. list of services which will be in the event of did not sign Convention Iraq security

The United States warned of the collapse of Iraq in the absence of bug Security Agreement signed between the two countries.

The U.S. warning came in a letter delivered by the top U.S. commander in Iraq, General Odierno Rimnod to the Iraqi government and include a list of services which will make the United States, including that Iraq would lose 3 and 6 billion dollars in U.S. aid for reconstruction and security forces and economic activities, as well as 10 billion dollars a year on military purchases And stop sharing intelligence with the Iraqi government and the provision of air traffic control and air defense training teams or advisers in the ministries.

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Barzani refuses to meet Rice and Iraqi comment on the amendments

Prime territory of Iraqi Kurdistan, Massoud Barzani, with U.S. Secretary of State Condoleezza Rice in Washington security agreement to be signed between Baghdad and Washington.

Barzani said in a press release after the meeting that he refused to comment on the changes requested by the Iraqi government to make.

Barzani said he and Rice also discussed the situation and the common issues between Iraq and Turkey and the Kurdistan region, and described the positive developments that are in the interest of both sides.

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Iraq is up for the negotiation of debt and compensation Kuwait

Iraq to form committees to negotiate the cancellation of debt on the implications for Kuwait and Saudi Arabia as well as address the compensation paid by Iraq for a number of creditor nations.

The head of the advisers in the Office of the Prime Minister Thamer Ghadhban told a news briefing today, Wednesday, the publication that the debt issue has a clear mechanism by creditor nations to Iraq, stressing that the great achievements made in this area during the Paris Club agreement is likely to close this file with final By the end of this year.

Ghadhban said that what remained of the debt is a debt of the State of Kuwait and Saudi Arabia, adding that the government of Iraq towards a settlement of past or extinguish the debt to remove this heavy burden of the legacy left by the Alambad.

He said committees had been formed to address this issue as well as address the issue of compensation to Iraq for a number of countries to reduce the burden on the government and the Iraqi people, praising the position of the UAE decided to extinguish debts on Iraq earlier this year.

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