Monthly Archives: December 2010
Venezuela Devaluing Currency to Revive Economy
| December 31, 2010 | Filled under Uncategorized |
Venezuela is devaluing its currency again and setting a single exchange rate for the U.S. dollar in an effort to revive the sluggish economy. Finance Minister Jorge Giordani said Thursday that Caracas will have the single exchange rate starting Jan 1, 2011, fixing it at 4.3 bolivars per dollar. Venezuela has been using a higher rate of 2.6 bolivars per dollar…
Women MPs Push for Greater Involvement in Govt.
| December 31, 2010 | Filled under Uncategorized |
Iraqi women continue to press on Prime Minister Nuri al-Maliki and their blocs to secure a quarter of the government posts. Women MPs in the Iraqi parliament have collected some 100,000 signatures to support their cause. The campaign followed the announcement of the new cabinet by Prime Minister Nuri al-Maliki where in a total of 33 announced ministries only one had…
The Coming Iraqi Business Boom
| December 30, 2010 | Filled under Uncategorized |
“Foreigners can own 100% of Iraqi companies, must pay only a 15% flat tax on profits, and may take 100% of those profits home when and how they please.” “Iraq will probably be the world’s biggest crude oil producer within a decade.” The expected announcement of Iraq’s new government marks the culmination of a remarkable process. The former bully-boy of the…
Baghdad: Granted Some 80 Investment Licenses in 2010
| December 30, 2010 | Filled under Uncategorized |
Baghdad: Detect chief investment Shaker Zamili Baghdad on Thursday that the authority has granted approximately 80 license investment in the capital during the year 2010, distributed to all sectors. Zamili said in a press statement that “Baghdad Investment Authority granted during the year 2010, seventy-seven license investment value amounted to three billion and a half million dollars,” noting that “the licenses…
Speculators in Iraqi Dinar Face Importation Risk With Paper Currency
| December 29, 2010 | Filled under Uncategorized |
“Iraq currency is a national currency only to be used and handled within the Republic of Iraq and not to be used, circulated, or handled internationally in any way.” “The formation of a government in Iraqi last week has re-enrgized speculators in the Iraqi Dinar” says David Pratt of U.S. Dinar Bank who cautions people that while these recent events are…
Iraq May Take Down Checkpoints
| December 29, 2010 | Filled under Uncategorized |
BAGHDAD – Iraq’s leaders are investigating the possibility of removing some of Baghdad’s hundreds of much-hated checkpoints because of the improving security situation, the city’s military spokesman said Tuesday. Maj. Gen. Qassim al-Moussawi said that Prime Minister Nouri al-Maliki had asked commanders to evaluate the security situation in Baghdad and decide which of the roughly 870 checkpoints that dot the city…
Political Document to Run the National … Journey on the Elimination of Unemployment
| December 28, 2010 | Filled under Uncategorized |
Gaining political document to run the national prepared by the Ministry of Labour and Social Affairs with the International Labour Organization announced in a conference organized by the way, very important as a clear invitation to invest money and mobilize the energies that will bring investment, which helps the growth of state resources and deploying them in multiple projects sectors contribute…
Governor of the Central Iraqi Government Warns of Borrowing
| December 28, 2010 | Filled under Uncategorized |
BAGHDAD – A considered Iraqi Central Bank Governor Sinan al-Shabibi, that the government’s borrowing from the bank damage his reputation and performance, calling for the use of the surplus in the previous budgets, to supplement the current budget, while the proceeds of Iraqi oil for December (Dec) current $ 4.6 billion , the highest in 2010. Shabibi said on the sidelines…
Egypt and Iraq Move to Settle Debt
| December 27, 2010 | Filled under Uncategorized |
Egypt may be nearing an accord with Iraq on hundreds of millions of dollars of debt built up during the reign of the Iraqi leader Saddam Hussein. The two countries still have widely divergent estimates of what Egypt is owed by Iraq – Egypt says it is more than US$1.5 billion (Dh 5.5bn), while Iraq estimates it to be about $800…
DECEMBER 30, 2010 ~ IMF SDR RATE REVISION ~ JANUARY 1, 2011 ~ NEW RATE TAKES EFFECT …
| December 26, 2010 | Filled under Uncategorized |
The first SDR exchange rate using the new basket will be posted on January 3, 2011. Will Iraq make a change before January 1, 2011 or will they wait along with the rest of the world? SDR Basket Rate The amounts of each of the four currencies to be included in the new SDR valuation basket will be calculated on December…
Iraqi Economy Made No Progress in 2010
| December 23, 2010 | Filled under Uncategorized |
The Iraqi economy, which is driven almost entirely by oil revenues, has made no progress in 2010 compared with the year before. The reasons behind the poor performance are a fragile security situation, destroyed infrastructure, a poor political situation caused by the search for personal gain [enormous corruption], and the complete absence of a road map to extricate the country from…
Iran Hopes New Iraq Cabinet Gets ‘Occupiers’ Out
| December 23, 2010 | Filled under Uncategorized |
TEHRAN: Iran expressed hope on Thursday that the new Iraqi government would help stabilise the war-torn country and lead to the exit of the “occupiers,” the ISNA news agency reported. “The Islamic Republic of Iran considers the formation of the new Iraq government an important and positive step forward in Iraq’s development and hopes that this move leads to more stability,…
Christmas in Iraq: Tedious
| December 23, 2010 | Filled under Uncategorized |
Col. Scottie D. Carpenter of Raleigh and the other 48,000 U.S. troops who will be in Iraq for Christmas are all but invisible back home. According to the Pew Research Center, just 4 percent of stories in the U.S. media now are about Afghanistan. And Iraq? Not even 1 percent. “War fatigue,” say the experts, citing a public that’s just tired…
Lack of Female Faces in Iraq Cabinet Draws Protest
| December 23, 2010 | Filled under Uncategorized |
BAGHDAD—Iraqi women lawmakers are protesting the lack of female representation in the new government formed earlier this week. Women make up a quarter of the 325-seat Parliament but were given only two ministries in the 44-member Cabinet that was approved after a nine-month delay. Those are relatively minor ministries without portfolios — meaning they don’t have a budget. The ministry in…
UN Welcomes Formation of New Unity Government in Iraq
| December 22, 2010 | Filled under Uncategorized |
United Nations Secretary-General Ban Ki-moon has welcomed the formation of a new unity government in Iraq after a nine-month political impasse since the indecisive March 7 parliamentary elections, and hailed the move as a “major step forward” in the country’s “democratic progress.” Ban congratulated Prime Minister Nuri al-Maliki on his confirmation as head of the government, and the country’s political leaders…
Former NZ PM Denies Iraq Troops-for-Contracts Claim
| December 22, 2010 | Filled under Uncategorized |
Former New Zealand Prime Minister Helen Clark on Wednesday denied sending non-combat troops to Iraq in 2003 to ensure one of her country’s largest companies retained lucrative U.N. contracts. A U.S. diplomatic cable released by the WikiLeaks website this week reportedly cited New Zealand defense officials saying Clark opposed the Iraq deployment until she was told dairy giant Fonterra might lose…
Kuwait Urges Iraq to Apply Resolutions
| December 21, 2010 | Filled under Uncategorized |
KUWAIT: Kuwait has urged Iraq to fully apply all international resolutions and settle outstanding issues after the UN Security Council voted last week to end key sanctions imposed on Baghdad. The Cabinet on Sunday night also welcomed the Security Council resolutions to halt some sanctions imposed after former Iraqi president Saddam Hussein ordered his troops to invade Kuwait in 1990. The…
Iraqi Cleric Asks Followers Not to Work for Foreign Oil
| December 20, 2010 | Filled under Uncategorized |
BAGHDAD—Even before rival Iraqi politicians finish haggling over how to divide cabinet posts to form a unity government here, anti-American firebrand cleric Moqtada al-Sadr is weighing in on the country’s biggest economic issue: oil policy. Mr. Sadr, whose militia waged pitched battles against American forces not long after they ousted Saddam Hussein, has banned his followers from accepting jobs with foreign…
Allawi Will Take Part in Iraq’s Coalition Government
| December 20, 2010 | Filled under Uncategorized |
Baghdad, Iraq- Former Prime Minister Ayad Allawi indicated Sunday that he will take part in the new Iraqi Cabinet that his rival, incumbent Prime Minister Nuri al-Maliki, plans to present to parliament Monday, effectively ending a months-long political stalemate. Allawi said in a statement that his al-Iraqiya bloc “will play our role actively, productively and cooperatively, and in a spirit of…
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