Millionday News 11/10/13
[millionday] The economist said d . Abdul-Sattar al - Bayati , "morning" that there is indifference direction and development of the national industry and develop a way that leads to increase the size of the gross domestic product and works to create the largest possible amount of job opportunities.
Among Bayati stakeholders do to promote this important sector , for example , the rehabilitation of industrial companies and modernize production lines with a new technology and expand production capacity with the development of human resources
as well as the conclusion of a number of investment contracts through partnerships with investors and international companies as well as corporate restructuring public through a number of action plans for all commercial companies and the agreement with the consulting firms and international organizations to promote and develop business and stimulate investments .
[millionday] looks like they are saying they are ready to activate the technology and human resources in industry now -- sounds good to me – smile brb with more
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[millionday] here we go with the banking and its move forward -- Restored placed raise or increase the capital of private banks to 250 billion dinars to the circle of light and heated debate on the significance of whether or not to raise their performance ,
despite the consensus on the need to achieve this goal Aln difference centered on ways to Asestthmarha under certain restrictions imposed in the law of private banks , especially in articles (27 ) and ( 28) , which many and objections by specialists and stakeholders as tied to some investment activities, according to some stakeholders .
[millionday] note -- they are referring to constitution
millionday] But apparently that the Association of private banks in Iraq resolved hurry to go to the possibility to take advantage of capital these investing for the purposes of development, this is what we reached him President of the Association Adnan Chalabi in an exclusive interview with the (morning ) and said we have to primitive serious steps and by contributing loans aggregate provided several banks to finance lending and strategic development projects contribute to the real development and thus run these large liquidity generated by the raising of capital
[millionday] note -- the loans for the banks that are supposed to do them have the capital now and they are ready to move forward to move iraq to development
millionday] And on the mechanism to be followed in such a Banking Service sophisticated explained Chalabi process that the bank or two or three to provide a syndicated loan regulations and mechanisms to ensure that the rights of the parties through one of these banks to do the job and this action of course carried out with the approval and supervision of the central bank, and we believe that this kind of investment will lead to real development in infrastructure projects as a result of their representation regular procedures .
[millionday] note -- these are orders of the cbi -- and should move the economy into progress
millionday] Chalabi, Ward P , saying that among the projects that are supposed to be funded through loans aggregate those affecting the lives of citizens , including the projects of housing units , schools, and thus activated the role of banks in the development through job creation and operation of many of the other units of prejudice to the construction and reconstruction.
[millionday] note -- looks like infrastructure to me
[millionday] oh this is good -- Chalabi pointed out that this type of financing Mujudwi most countries of the world have contributed to the implementation of several strategic projects .
And on the question (morning) for other steps to help banks to diversify their banking services towards the promotion of development programs suggested Chalabi strengthen the capacity of banks with liquidity through the issuance of treasury bonds and the measure requires the approval of the central bank and issuing bonds worth formal tradable in the Iraqi market for securities and the interest of it used for Altnumeihohma purposes depends on the decision by the Ministry of Finance and the Central Bank.
[millionday] note -- they are talking about the stock market
[millionday] He said these bonds put into circulation by the citizens instead of cash purchase of bonds guaranteed and اon value and are buying and selling and generate profits for the citizen and at the same time invest amounts by banks will go for investment and development.
However, Chalabi said that these trends , though serious Alaanha studying at the moment It and you are Blorthowthdid to the goals and mechanisms and submit them to the concerned authorities for approval and approval, they will contribute to the reduction of inflation and the withdrawal of liquidity surplus
[millionday] note -- they are just waiting on the go ahead from cbi
[millionday] treasury bonds are sold internationally
[millionday] Pointing out that the Association heading during the coming period to urge banks to interact with each other in order to activate the banking business and the advancement of banking products provided by the to beneficiaries audience ,
noting that the advanced technology started touched the doors of many banks and the multiplicity of civil products continuously and represents a target for most of the banks discreet .
[millionday] so obviously we see that they are keeping all of this as much to themselves as they can -- thats no secret
millionday] tourism and the economic reform changes
[millionday] With the proliferation of religious and archeological places in the various Iraqi provinces to form the point of destination for many tourists and visitors, economists calls came for the advancement of this important sector within the endeavors in the diversity of the general budget revenues with unilateral rents .
‘Come these calls with the benefit of many countries such as Saudi Arabia and Iran and the Vatican of religious places of critical importance , especially with the presence of religious events many can generate on Iraq millions of dollars if invested properly while maintaining the sanctity of these places and events that are held there.
[millionday] Economic expert on behalf of Jamil Antoine told ( morning): "The tourism one of the main tributaries to the economy of many countries , as the gaining of religious importance , especially in Iraq and that the multiplicity of religions and the presence of a lot of shrines and religious destinations scattered across the country ."
‘He Antoine that this tourism irreplaceable and differ from the kinds of tourism other , because the religious rituals ongoing throughout the year and for different religions and in the long term ,
especially during the current period of the month of Muharram , suggesting obtaining a nominal fee of all visitors entering Iraq to be followed by the consumption of infrastructure to compensate for the part of the losses suffered by the Iraqi economy, is also considered an important resource if properly used and confined to contribute to the diversity of the general budget and constitutes a form of Statistics and Census of visitors as in other countries such as Saudi Arabia and achieved significant financial returns .
[millionday] so the opening of the tourism market -- we like
[millionday] He said that the high demand for this type of tourism creates jobs to serve a lot of tourists and visitors, especially in the provinces of Karbala and Najaf, as well as the activity of the air transport sector and land in a season religious rituals and motivation from inside and outside the country , calling for the development of the General Authority for Tourism and the appointment of mentors and making guides and especially in the field of religious Greater importance , creating a strong economic recovery .
[millionday] tourism was huge in iraq due to the religious draw to the land -- many want to walk in the land
[millionday] He explained that he does not have a blockbuster on tourism, archaeological and heritage , as opposed to religious tourism and the insistence of the visitor to come to the revival of religious rites, entails providing the best services and the development of tourist facilities and the construction of cities recreational and build business centers,
and attention to the border areas to be at the required level to provide comfort and facilitate the entry of visitor , as well as the establishment of a solid tourist companies increase motivation , urging to monitor financial allocations within the budget to this sector.
[millionday] as we know tourism is a part of the revenues