Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

Iraq ranked the 13 Arab world and the 124 in the list of Global Finance for the richest countries in the world

to resolve Iraq at the center of the 13 Arab World and 124 globally among 182 countries covered by the magazine's list of Global Finance for the wealthiest and the poorest countries in the world, according to the same list has a per capita GDP in Iraq with 3758 dollars in 2010 compared to 3570 dollars in 2009.

Topped the Qatar -based Arab and world in per capita GDP reaching 90 149 per year in 2010 versus 83 841 dollars in 2009, the UAE was the third Arab World and 18 worldwide share of the individual 36 176 dollars in 2010 versus 36 537 dollars in 2009.

According to the magazine's list of Global Finance reported by Kuwaiti newspaper came Bahrain fourth in Arab World and 33 globally to 27649 dollars in 2010 compared with 27 068 dollars in the year 2009, and Oman in fifth place, the Arab World and 36 worldwide to 25 630 dollars in 2010 compared to 25110 Dollars in 2009.

Saudi Arabia finished in sixth place and the Arab world in the list 38 to 23 701 dollars in 2010 compared to 23221 dollars in 2009.

And Lebanon in the seventh and the Arab world share of 54 per 14988 people in 2010 compared to 14 226 in 2009.

And Libya came in eighth place and the Arab world 's share 57 14 884 per capita in 2010 compared to 14 328 dollars in 2009.

Tunisia and replaced in the ninth position and the Arab world 89 to 8559 dollars in 2010 compared to 8254 dollars in the year 2009, Egypt and the Arab World and X 104 to 6347 dollars globally in 2010 compared with 6123 dollars in 2009.

And filled Syrian Centre of the 11 Arab and the 111 global share of per capita 5043 dollars in 2010 compared with 4887 dollars in the year 2009, and Morocco, the 12 Arab World and 117 globally by 4745 dollars in 2010 compared to 4604 dollars in 2009, came the Sudan in the center 14 Arab 138 and the global share of per capita 2465 dollars in 2010 compared to 2380 dollars in 2009.

According to the order of the world in the list of Global Finance has topped the Qatar list of world's richest countries in per capita GDP by about 90 149 dollars in 2010 and came to Luxembourg in second place with 79 411 dollars and Norway in third place with 52 964 dollars and Singapore in fourth with 52 840 dollars in Brunei Fifth place with 48 714 U.S. dollars and the United States in sixth place with 47 702 dollars, and Hong Kong in seventh place with 44 840 dollars and Switzerland in eighth place with 43 903 dollars and the Netherlands in ninth place with 40 601 and Australia, in tenth place with 39841 dollars.

http://www.ipairaq.com/index.php?nam...itics&id=30185

Kuwait: All disputes with Iraq in the process of the final solution

Have confirmed their participation and support for the convening of the forthcoming Arab summit in Baghdad

Kuwait confirmed that all its differences with Iraq in the process of around once, and that the emir, Sheikh Sabah al-Ahmad would be at the head of delegation to participate at the Arab summit to be held in Baghdad in March of 2011 and it will not lag behind for an Arab summit to be held in Iraq

Ambassador Jassim Mubaraki director of the Arab nation in the Kuwaiti Foreign Ministry : We support the summit in Iraq, will attend and represent our country in this important summit to support our Iraqi brothers, to be President Jalal Talabani, head of the Arab summit twenty-third session in Baghdad.

Reported Mubaraki told (morning) on the sidelines of a meeting of permanent representatives of the Arab League in Cairo under the chairmanship of Iraq, said all the differences between Iraq and Kuwait in the process of around once and we await the formation of the Iraqi government to begin talks to resolve all outstanding issues, particularly with regard to Demarcation of the border, fishermen, farmers and oil fields and the other pointing to the existence of joint committees between the two sides and that Iraq and Kuwait agree on many issues undeclared.

He noted that the permanent delegates of the Arab League and put a draft resolution urging Iraqi politicians to speed up the formation of the government.

http://www.alsabaah.com/paper.php?so...age&sid=108517

Iraqi Finance : the performance of private banks is not satisfactory and is still lacking seriousness

An adviser to Iraqi Finance Ministry, on Tuesday, the Finance Ministry is still not convinced of the performance of banks and banking Iraqi civil, especially amid a lack of confidence between the parties, accusing local banks not to sobriety financial science that would develop the banking sector In the country.

He said Zia Alckheon told Kurdistan News (Akaniwz) that "the Iraqi Finance Ministry is still not Mguetap performance of banks, Iraqi civil despite the introduction of new measures to work, but it hopes to revitalize the work significantly and Tmtne with government banks, particularly with regard to handling the financial account together."

And Alckheon "The relationship between private banks and the Ministry of Finance in the country characterized by a lack of confidence as well as the lack of these banks to the seriousness of financial science that would develop the banking sector in the country." explaining that "the ministry had no objection to increasing the number of private banks, but calls for Further changes, which reduces the distance between them and government banks."

The total capital of private Iraqi banks from 30 million dollars in 2004 to one billion and 600 million dollars now, except Maatmlleke branches of Arab and foreign banks operating in the country.

The number of private banks rose from 17 banks in 2004 to 31 banks currently in the number of branches in Baghdad and other governorates from 100 to more than 600 branch to compete in the number and level of services in Iraq and the branches of a bank of good government.

http://www.aknews.com/ar/aknews/2/181215/

Iraqi banks more than meets the eye

An unusual feature of many of the listed Iraqi banks is that investments account for a greater share of their deposits than loans. This is true, for example, of Mansour Bank (BMNS), National Bank of Iraq (BNOI), Commercial Bank of Iraq (BCOI), Gulf Commercial Bank (BGUC), Bank of Baghdad (BBOB), and Middle East Investment Bank (BIME). From the point of view of the minority shareholder, these names are really more like Asian-style conglomerates (known as hongs in Hong Kong) than conventional banking businesses.

Consider the case of Gulf Commercial Bank, for example, where the year-end ’09 investment/deposit ratio came to 72%, compared to a loan/deposit ratio of just 20%. You can get some idea what this investment might consist of by going to the website of the Bahraini Group, BGUC’s controlling shareholder (www.bahrainigroup.com), which describes the group as being involved “primarily in the food and packaging industry” while also active in the financial services, real estate, construction, and household appliance sectors. If you hold BGUC shares, you are likely to be exposed not only to the bank itself but also to a business empire including a dairy, tomato paste manufacturer, hotel and furnished apartment complex, construction materials supplier, and Iraq’s exclusive distributor of Carrier air conditioners, among other things.

This would be a familiar seeming list of businesses to investors in companies like Singapore-listed Jardine Strategic Holdings, which has stakes in a convenience store chain, property developer, Mercedes-Benz distributor, and the Mandarin Hotel group. An obvious difference, of course, is that deposits are a less stable source of debt financing than the bank loans and securities that JSD relies on. But given the primitive nature of Iraqi banking and finance, these generally aren’t really going to be options anyway.

http://www.iraq-businessnews.com/201...meets-the-eye/

Chief Advisor: increase Iraqi oil production will not negatively affect the OPEC

signed President the advisers in the Prime Minister's Office, Wednesday, that does not result in increasing the capacity of Iraq's oil production over the coming years a negative effect on OPEC members, especially since some are not capable of production quotas and Iraq could fill the gap.

He said Thamer Ghadhban told (Voices of Iraq) that Iraq "today produces less than the size of its share of assessments in the eighties of the last century, which was set at three million and 140 thousand barrels," indicating that Iraq today "does not have the ability to export this quantity remains outside the quota system in OPEC."

Iraq is the only member of the Organization of Petroleum Exporting Countries (OPEC) is exempt from quotas oil production since the nineties due to poor production, which does not exceed 2.5 million barrels per day from about 600 thousand barrels to meet the local need.

Iraq also, according to Anger "will not be able to increase production capacity only gradually and over several years through licensing rounds held with international companies," and then "There will be meetings with the OPEC members to determine Iraq's share of production and responsible manner in order for the Organization and evolution".

He expected that "does not affect any increase in production are negative on any of the member states", especially "Some member states can not produce their quotas and thus there will be a lack of Iraq can Isdh, as some countries outside OPEC will decrease the size of production" and therefore There are "plenty of room for Iraq to increase production without any problems with OPEC."

http://radionawa.com/ar/NewsDetailN....777&LinkID=155

Economist : Iraq war costs more than 3 trillion dollars ..

Washington: We wrote an article in the beginning of 2008, we estimate that the cost of the war in Iraq three trillion dollars .. It cost exceeded what is not measured by all the previous estimates, including those of the Bush administration in 2003, which
Estimated that the war would cost an amount ranging between 50 to 60 billion dollars.

But our appreciation of this (including the costs incurred by the government, the wider impact of war on the U.S. economy) seems far less of the truth much at that moment to end the U.S. combat missions in Iraq. Furthermore, we have recognized, after two years of appreciation However, that does not contain a so-called "opportunity cost", which can be expressed through the question "if we have not done as well as what would happen in this situation? For example : If we have not entered the war in Iraq .. Have we will remain trapped in Afghanistan so far? .. Were oil prices would rise so quickly? .. Were the federal debt will be huge in this way? Were the financial crisis will become such a degree of intensity?" The answer to the previous four questions are: probably not. The central lesson that we can be drawn from economics, is that resources - both represented in the funds or interest in - are usually rare. Therefore, what is allocated to a particular theater of operations, automatically mean a deduction of the resources could be reallocated to another place. There is no doubt that the war in Iraq has turned the "attention" of the war in Afghanistan, which is now entering its tenth year. Despite the fact that the definition of success in Afghanistan was always a definition elusive, but it was at least we can strengthen the control of the "Taliban", reduce the losses shortly. If we had sent more troops to Afghanistan in 2003 when we went to war in Iraq, was That policy has achieved better results than sending more troops to Afghanistan this year. And what about oil? When the U.S. invaded Iraq the price of a barrel of oil is less than 25 dollars per barrel, with the outbreak of war with this price rise until it reached 140 dollars by 2008, due to interruptions in the supply of Iraqi oil, and instability caused by the war, which has an impact on the investment in it. the federal debt : There is no doubt that the Iraq war has exacerbated the size of this debt. It is enough to know that this is the first time in American history where a government to cut taxes is going to war, which meant that the war will be totally financed by borrowing. It was only natural that this will lead to higher federal debt of 6.4 trillion dollars in 2003 to 10 trillion in 2008 (before the financial crisis).

The financial crisis : The result of those two wars, was charged with two funded by debt, our finances were in a deplorable state , even before the crisis, which exacerbated the downward trend in the economy after the fact. That crisis was caused - at least in part - to the war. Higher oil prices meant that the funds allocated to buy it from abroad, would deprive the economy were at home. In addition, spending on the war did not provide the kind of economic revitalization, which could have provided such expenses if it had been allocated to another area. Pushing the funds to the foreign contractors working in Iraq was not effective catalyst in the short term, as not in itself constitute a basis for growth in the long term. and that has kept the economy going to a great extent is that the mix of fiscal policy loose, regulations and laws lax, the That was the moment when the financial bubble burst that caused the kind of free association in the economy which we have seen all. that the pieces that if we have not done as well .. What had happened as well as .. Is difficult all the time, especially with something so complex that characterizes the global financial crisis, especially that many factors contributed, is warranted to say that she would have occurred anyway. The fact that the Iraq war did not contribute to the worsening financial crisis and make it more unit only, But it also prevented us from responding efficiently. Large increase in indebtedness, as a direct result of the consequences of that war, it means reducing the room for maneuver to the government. In addition, concerns over the federal debt (which Dkhmth war), and the growing deficit in the budget, to restrict the size of the stimulus by the government to stimulate the economy, Which meant hampered their ability to respond to the recession efficiently. With the continuing high unemployment rate, despite numerous attempts have been made to reduce it, it does not matter for the country to get out of this recession, but another stimulus package. But here we face the problem of another kind, namely, that support That could be provided for this idea will be limited, because of increased state debt. This means that the recession will continue for a longer period, and GDP will be lower, and the unemployment rate was higher than would otherwise be the case if it were not there already a war. Joseph Stiglitz - Professor at Columbia University and was awarded the Nobel Prize in Economics 2001.

Linda Bilmes - Professor of Public Policy at Harvard University.

http://www.aliraq-online.com/6757.html

Central Bank: edition of the dollar in 1996 is acceptable to our

He Mstcharalpennek Central Acanutormzarmohamd Saleh refused to cashiers edition of the dollar in 1996 is not something for the economy, but is the behavior of the market which makes its living on the margins. "Saleh (of the Agency news for the news) said Thursday that the issue of money changers who do not accept edition of the dollar for the years 96 and 97 make a living on the margins of profitability, this method is followed by major retailers, which is (not effective) not only in Iraq but all over the world.

Saleh explained : The traders always follow the ways they call it (fine and coarse) on the currency, old or new. and on new facilities for the granting of loans, Saleh said that the central bank plan reserve requirements, which include taking and retaining 15% of the loan instead of 20% for loans And distribution of a credit. pointing out that this move comes within the monetary policy to stimulate the economic sector, Saleh said : It is assumed the banks are exploiting facilities central bank last help Iraqi banks to open credit expansion of economic activity.

http://www.ikhnews.com/news.php?action=view&id=1782

Thanks for the news.

Sunday, 19 September 2010

Warka Bank denies news bankruptcy and stresses subjected to a smear campaign to his reputation by competitors

denied Director the Warka Bank of Iraq, Sunday, reports that was his bank bankrupt because the bank is supported by the Central Bank of Iraq, accusing some of the competitors of conducting a campaign to tarnish his reputation and helped some of the media to promote those rumors.

The Managing Director of the Bank of Warka Mohammed al-Samarrai told a news conference in Sulaimaniya and attended "Alsumaria News," that his bank "subjected to a campaign to discredit him by competitors Mordin, with the some of the media promoting those rumors with regret," did not refer to the identity of Oola competitors.

She had been reluctant in recent times, reports that the bank is facing difficulties in continuing his work, without indicating the news published by some local media to the details of those difficulties.

Samarrai said that his bank "is supported by the Central Bank of Iraq and can not talk about bankruptcy," noting that "any confusion or work to spread rumors will affect the private banking sector in light of political situation the unstable in the country."

The manager of the bank that "the private sector is relied upon in building the country, and is the private banking sector is the backbone of the economy of any country," noting that "the development of states measured by the development of its economy," as he put it.

The Bank was established Warka investment bank in 1999 with a capital of 500 million Iraqi dinars, "about 420 thousand dollars," and reached the bank's capital earlier this year to 75 billion dinars, and plans to increase its capital to 250 billion Iraqi dinars, and the bank 121 branches in the provinces and cities of Iraq

http://www.alsumarianews.com/ar/3/11...-details-.html

Monday 20th September 2010

Iraq and Turkey embargo export of Kurdish oil

Iraqi Kurds will not be able to ship oil to the outside world without central government’s approval, according to a new deal the Oil Ministry has signed with Turkey.

Under the agreement Turkey will not allow the flow of Kurdish oil via joint pipelines passing through its territory unless authorized by the Iraqi government.

The joint twin-pipeline originates in the oil center of Kirkuk and terminates at the Turkish terminals on the Mediterranean.

It currently carries nearly 600,000 barrels of Iraqi oil for exports.

It is the only means available for the landlocked Kurdish region to export its oil.

The Kurds say they have the capacity to produce 100,000 barrels a day, but have so far failed to reach an agreement with the central government on how to ship them to the international markets.

Several foreign firms have struck deals with Kurds to develop oil fields in their areas, comprising the provinces of Arbil, Sulaimaniya and Dahouk.

But the central government says the deals are illegal since they were signed without its approval.

The government would also like all proceeds from any Kurdish oil sales end up in its coffers.

http://www.azzaman.com/english/index...09-20\kurd.htm