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Millionday News 9/8/13
[millionday] Bankers stressed the importance of launching a national campaign to contact global finance for the revitalization of the work of the State banks which was constrained in its dealings with the requirements of Chapter VII. come at a time when the parliamentary Finance Committee considered exit Iraq from Chapter VII has a positive impact on the local economy, it will open doors to global banking Committee member, MP Secretary Hadi between speaking for (morning) there is the protection of the country's capital, as banks take precautions in this regard that Iraq still has Financial commitments with some States after emerging from Chapter VII
millionday] . Hadi said that the exit of Iraq from this chapter has a positive impact on the local economy as it opens doors to global banking, adding that the debt issue will be solved through dialogue with reluctant States in its dealings with Iraq and most Arab States.
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Iraq's recent finds from Chapter VII, having fulfilled all its obligations towards the international community. the banking expert and Executive Director of the Association of private banks in Iraq Abdul Aziz hasoon, The exit of Iraq from Chapter VII released Iraqi dealings abroad.
millionday] Finch said in an interview for (morning) to the Iraqi Government at present with the outside is limited to private banks, public banks are banned from such transactions because banks are subject to the conditions and limitations of Iraqi debt under Chapter VII.
[millionday] this means that they are changing stipulations that have the global banking stuck from past sanctions and present applications so this is fantastic because we want this in order to launch the rates through global currency rates which has to be done in order to connect banking globally smile
[millionday] brb with more i agree -- its about time brb
NUMBERS] millionday if turki resigned is that good for us or bad??
[gpleas] good question numbers
[wmawhite] Maybe just rumor. Remember, The CBI just as any other central bank is controlled by a board of directors.......................not the parliament nor GOI.
[millionday] here we go i will be bringing what i have on it in just a few this is important due to the news we had yesterday
[millionday] remember we had the announcement that they are launching the infrastructure and this requires foreign investment so here we go
[millionday] Economic researcher said no just the importance of investment companies to invest in the areas of reconstruction and infrastructure the importance that in a strong economy.
The desire of foreign companies Just added in a statement to (morning) there are a number of large foreign companies that wanted to enter the local market and is awaiting Government approvals for its different and each according to their competence.
Economic researcher said that the local market can accommodate all different types of investment and a real desire to build the country and re-establishing of infrastructure as well as that Iraq is a promising investment environment for a productive and service sectors need foreign expertise to rehabilitation.
[millionday] The Ministry of Commerce has launched a one-stop registration of foreign companies and recently for coaxing investors into the country and then to move the economy to foreign investment from several advantages which absorb unemployment and labour.
She just hoped that Muthanna cement factory investment to increase production capacity to supplement the needs of the domestic market of this fundamental article in ages and building complexes and condominiums that require Iraq to more than 2 million units to reduce the housing shortage prevailing in the country for several years.
[millionday] note -- Iraq is in huge need of housing and this is a very large portion of the investment coming for the country and its rebuild
[millionday] She just to the contracts implemented by way of direct investment is an excellent incentive to support the domestic economy finally began to recover, especially after the arrival of a number of large foreign companies, branches and offices in Iraq and implementation of investment projects in various provinces.
Just hinted that the national investment agency efforts in attracting foreign investment through the establishment of overseas economic forums to publicize investment opportunities in Iraq and highlighted sectors requiring the implementation of investments directly.
millionday] note -- this is more than encouraging to know that they are having seminars abroad to bring in investments at this time
[millionday] The Al Muthanna cement factory is one of the seven factories of Southern Cement State company, one of the Ministry of industry and minerals, was founded during the 1980s with a production capacity of 1.9 million tons of clinker and 2 million tons of cement, and the factory is currently at a rate of 20 percent of total capacity due to international economic sanctions imposed on Iraq.
[millionday] Economic researcher showed that foreign investment is a means of transition to a market economy which seeks to Iraq after long years of control of the economy and Government intervention in all parts of the economy, noting that it was the cause of the failure of the economy and the survival of its dependence on oil,
which still represents the single pole side in support of the general budget of the country, while the current stage requires diversification of the resources of the State to activate the different productive sectors, mainly industry and agriculture for self-sufficiency and reduce dependence on Imports fill the market need of various commodities.
[millionday] note -- this is of major importance to move to a market economy -- they must diversify and as we see here they are working to its full capacity
millionday] this is how>>>>>>>>>>>>>> Said the Chairman and Chief Executive of ASEC cement Giorgio Bodo in a press statement that the Iraqi market is a promising market, pointing out that the rehabilitation of the Muthanna plant represents an important part of the Iraqi investment that seeks to meet the demand for cement.
[millionday] It is planned to start the contract concluded under international tender with effect from the second quarter of 2014, including implementation plans, increasing the production capacity of the factory to 2 million tons per year by August, 2016.
The signing of the new contract after ASEC cement (which is Arabic Swiss engineering company was founded in 1975 and based in Cairo) in the new plant established in Germany with a production capacity of 2 million tonnes per annum of cement gray high quality, in order to cover the demand for cement in upper Egypt through the limestone quarries in Minia governorate.
[millionday] so the beginning of bringing the country back to what they could do before will not be the only goal because that is what they produced before factories were updated through technology so this is going to really be something in the market --- what they can do now is very encouraging for them and the isx /economy brb with more
[millionday] now we will look at the news about turki and talk about it at the end of the report here we go
[millionday] He informed source close to the "Iraqi Central Bank Governor agency Abdul Basit Turki he submitted his resignation today," to Prime Minister Nuri al-Maliki, due to not being able to manage work at the Central Bank and the Office of Financial Supervision, and the source said that Turkey is no longer that manages requests for central and mail signature Central Bank of the stack for many weeks and the intervention of some political figures in the central business and due to pressure from some political figures and interfering in the affairs of the technical and administrative banks, and Turkish did not reveal details that forced him to resign.
[millionday] He explained sources Prime BSA Abdul Basit Turki tendered his resignation from the post of governor of the central bank today, which was occupied by proxy. "Did not disclose the source of more details about the resignation is not known after the Turkish sacked by the Prime Minister or feet resignation is forced.
According to many experts economics and law that Iraqi law should not combines Prime BSA over the position, especially the governor of Central Bank of Iraq, and demanded Prime Minister searching for Biddle for a Turkish non-reordering in the combination between the two administrations and the seriousness of financial conditions and economic conditions in the assumption of a Turkish governor of the central and Tzbb exchange rate as well as currency smuggling, money laundering and failing to Aalqdhae the phenomenon
[millionday] The Council of Ministers decided to appoint Abdul Basit Turki governor of the Central Bank of Iraq instead of Shabibi. In the sixteenth of the month of October last year, declined to economic expert Ahmed Bureihi to receive the position of Management Iraqi Central Bank Governor said Bureihi in a statement he had no desire to assumption of the post of Governor of the Bank. there are a lot of thorny and complex problems in the files of the Central Bank.
[millionday] so let me say this >>>he has remained under proxy and the government heads fill the position as our president does fill the head of the federal reserve here --- so according to the source the resignation was due to lack of ability to handle the pressure and any other reason was not given however
[millionday] it appears that the many pressures we have seen for him are by the gov and also the economic committee and also they are saying here that he has not implemented many of the regulations and precautions put in place so this is a good thing
[millionday] one thing that makes it a good thing is that truki has more than one job and the gov needs to be completely focused at this time -- the question was :::::
millionday] is this forced or is it a decision ? we should see some other reports on it in other sources for one if its true and another for that answer --- so i will look some more in what i have and bring it for us to see if we can get a clue and i must say --- no --- it is not a bad thing
[millionday] too much dust has settled at cbi with the release imo --- things should be moving faster and also he should be addressing the public and foreign investors smile brb with more
[millionday] lets also look at the nashville report to see if we see any clues here we go>>>>>>>
[millionday] Nashville: In order to inform the community of Kurdish in Nashville on the latest developments in the Kurdistan, and to clarify the position of the Kurdistan Region on sensitive issues and the election process and relations of the Kurdistan Region with the United States,
in addition to listening to the desire and aspirations of the community of Kurdish in America, held Falah Mustafa, head of the Department of Foreign Relations in the Kurdistan Regional Government held a meeting with the Kurdish community in Nashville, USA.
During the meeting in the presence of Bayan Sami Abdul Rahman representative of the Kurdistan Regional Government in Britain and crew of the Kurdistan Regional Government Representation in America, reviewed the foreign relations official to attend, About the latest developments on the current situation of the Kurdistan Region.
He pointed to the attention of the Kurdistan Regional Government the Kurdish community in abroad, and highlighted the current situation in Kurdistan and the political and economic progress, academic and health and reconstruction that has been achieved in the region.
PART 2 CONTINUED
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