Wednesday, September 30, 2009

Kuwait to Host Int''l Financial Institute - Official

Kuwait to host int''l financial institute - official

29 September, 2009

Kuwait will sign in a few days an agreement on establishing an international financial institute to develop human resources in the Gulf state to serve the region, a Kuwaiti official announced here.

Managing Director of the Kuwait Investment Authority (KIA) Bader Al-Saad told KUNA, on the sidelines of his official visit to Italy, that the agreement on establishing a regional branch of the Institute of International Finance (IIF) will be signed in Istanbul with the International Monetary Fund (IMF).

The institute will apply international standards in training financial leaders in the region including the Gulf states, and spreading in the west from north Africa to Egypt, Syria, and Lebanon, and in the east to Iran and the Indian Peninsula, he said.

He pointed out that IIF had two branches in Austria and Singapore and that establishing a new branch in Kuwait was part of the state's policy to become an international financial and trade center.

Meanwhile, the Kuwaiti official said that the world economic crisis proved that major Gulf investment funds in industrial countries had long-term investments that were not affected by the swinging of markets.
He announced that KIA will be studying the opportunities and future of renewable and alternative energy technologies.Al-Saad, who arrived here Monday, will be heading to France Tuesday evening after meeting Italy's Foreign Affairs Minister Franco Frattini.

Presidents of Chile and Vietnam agree to speed up negotiations on free trade deal




October 1, 2009

Presidents of Chile and Vietnam agree to speed up negotiations on free trade deal

SANTIAGO, Chile - The presidents of Chile and Vietnam have agreed to accelerate talks toward a free trade treaty between the countries.

President Michelle Bachelet and Vietnamese President Nguyen Minh Triet met Wednesday in the Chilean capital, Santiago.

Triet said after the meeting that "we are determined to sign a free trade deal because it is the desire, the aspiration of both countries."

Triet, who came to Chile accompanied by a 100-member trade delegation, suggested Bachelet visit Vietnam for the signing.

The Chilean president said the trade talks are nearing their conclusion. Bachelet visited Vietnam in 2006.

Trade between Chile and Vietnam has risen rapidly in recent years.

Vietnam may soon get Market-Economy Status


October 1, 2009

Vietnam may soon get market-economy status

NEW DELHI: India is all set to recognise Vietnam as a market economy—a system where prices of goods are determined in the market and not by the government.

This clears the last hurdle in the way of India’s free trade agreement (FTA) with all Asean members. A Cabinet note on the issue circulated by the
commerce department to various ministries and departments has not faced any opposition, a commerce department official has said.
It is now ready to be submitted to the Union Cabinet for its approval.

“We are hopeful that we will be able to submit the note to the Cabinet by this week and it will be approved soon. Once that happens, the India-Asean FTA will be complete and include all 10 Asean countries,” the official said.

The FTA, which was signed between India and all Asean countries except Vietnam earlier this year, is scheduled to be implemented from January 1, 2010. Vietnam had said it would be party to the agreement only if India gives it market-economy status.

Once Vietnam is given this status, India will have to accept prices supplied by it in all anti-dumping investigations against goods originating from that country. Anti-dumping investigations happen when a country suspects that the exporting country is selling goods at a price lower than the domestic prices prevailing in its local market.

If the domestic prices are found to be lower than export prices, then the importing countries can impose additional duties equivalent to the dumping margin. At present, India uses third-country prices for calculating dumping margins against imports from Vietnam.

What is a Market Economy

In a free market economy, the ‘invisible hand’ of supply-and-demand market forces defines what is produced, in what quantity, and at what price.

A market economy is a type of economic system in which the trading and exchange of goods, services and information takes place in a free market. A market economy may therefore also be known as a free market economy.

The phrase is typically applied to countries or administrative regions that follow this approach.

Since free markets are governed by the law of supply and demand, the market itself will determine the price of goods and services, and this information will be made available to all participants. Businesses can decide which goods to produce and in what quantity, and consumers and businesses can decide what they want to purchase and at what price.

The opposite of a market economy is a planned economy, where the government decides what to produce, in what quantity, and to be sold at what price.

Mixed economies blend market and planned economies, meaning that the government will have some role in regulating the market, but all other activity will be driven by the decisions of buyers and sellers. Since the government will always have some level of regulatory control, no country operates as a free market in the strict sense of the word, but we generally say that market economies are those in which governments attempt to intervene as little as possible, while mixed economies include elements of both capitalism and socialism.

The main characteristics of a market economy are its flexibility and decentralized nature. This type of economic system is more apt to cope up with ever-changing market trends, making it faster and more reactive. The role of the national and state governments in the market economy is debatable, although it has been found that government interventions are sometimes necessary.

In these cases, the government mainly deals with the formation and implementation of rules and regulations and ensures that monopolistic behavior does not obstruct competition in the marketplace. Regardless of the government’s role, decisions made in a free market economy are primarily made by the ‘invisible hand’ of market forces – and not mandates issued by the government.

Socialist Market Economy Free Market Economy China Market Economy Advantages of Market Economy Global Market Economy Germany Market Economy Stock Market Economy Mixed Economy Socialist Economy Capitalist Economy US Market Economy

US Treasury Secretary Geithner to visit Turkey October 3-6

September 30, 2009

US Treasury Secretary Geithner to visit Turkey October 3-6

The G-7 meeting will be on October 3, and the annual meeting of IMF-World Bank will take place on October 4-5.

Geithner is expected to hold a press conference after the G-7 summit on October 3.

The G-7 summit will focus on global economy and stability of financial markets.

Vietnam may soon get mkt-economy status

October 1, 2009


Vietnam may soon get mkt-economy status


NEW DELHI: India is all set to recognise Vietnam as a market economy—a system where prices of goods are determined in the market and not by the government.


This clears the last hurdle in the way of India’s free trade agreement (FTA) with all Asean members. A Cabinet note on the issue circulated by the commerce department to various ministries and departments has not faced any opposition, a commerce department official has said. It is now ready to be submitted to the Union Cabinet for its approval. “We are hopeful that we will be able to submit the note to the Cabinet by this week and it will be approved soon. Once that happens, the India-Asean FTA will be complete and include all 10 Asean countries,” the official said. The FTA, which was signed between India and all Asean countries except Vietnam earlier this year, is scheduled to be implemented from January 1, 2010. Vietnam had said it would be party to the agreement only if India gives it market-economy status.


Once Vietnam is given this status, India will have to accept prices supplied by it in all anti-dumping investigations against goods originating from that country. Anti-dumping investigations happen when a country suspects that the exporting country is selling goods at a price lower than the domestic prices prevailing in its local market. If the domestic prices are found to be lower than export prices, then the importing countries can impose additional duties equivalent to the dumping margin. At present, India uses third-country prices for calculating dumping margins against imports from Vietnam.

Market Economy


In a free market economy, the ‘invisible hand’ of supply-and-demand market forces defines what is produced, in what quantity, and at what price.


A market economy is a type of economic system in which the trading and exchange of goods, services and information takes place in a free market. A market economy may therefore also be known as a free market economy.


The phrase is typically applied to countries or administrative regions that follow this approach.


Since free markets are governed by the law of supply and demand, the market itself will determine the price of goods and services, and this information will be made available to all participants. Businesses can decide which goods to produce and in what quantity, and consumers and businesses can decide what they want to purchase and at what price.


The opposite of a market economy is a planned economy, where the government decides what to produce, in what quantity, and to be sold at what price.


Mixed economies blend market and planned economies, meaning that the government will have some role in regulating the market, but all other activity will be driven by the decisions of buyers and sellers. Since the government will always have some level of regulatory control, no country operates as a free market in the strict sense of the word, but we generally say that market economies are those in which governments attempt to intervene as little as possible, while mixed economies include elements of both capitalism and socialism.


The main characteristics of a market economy are its flexibility and decentralized nature. This type of economic system is more apt to cope up with ever-changing market trends, making it faster and more reactive. The role of the national and state governments in the market economy is debatable, although it has been found that government interventions are sometimes necessary.


In these cases, the government mainly deals with the formation and implementation of rules and regulations and ensures that monopolistic behavior does not obstruct competition in the marketplace. Regardless of the government’s role, decisions made in a free market economy are primarily made by the ‘invisible hand’ of market forces – and not mandates issued by the government.




Gulf to play key role in future global finance - official


The Gulf is at the forefront of a new era in financial services that will see Islamic finance play a key role in shoring up the fragile world economy, the finance director of Qatar Petroleum said on Wednesday.Abdulrahman Ahmed Al Shaibi, who is also a board member of Qatar Financial Centre (QFC) Authority, said the global crisis had gifted the Gulf a “greater stake in the world economy”.“We now own some of the world’s leading companies,” he said. “The Gulf has been protected from the worst of the financial tsunami.”


He added, however, that local investors had faced “a painful lesson to learn that the markets aren’t a one-way ticket to wealth”.“No country or region can immunise itself against a recession.


We all need to question the easy assumptions we have made about how to do business.”The West’s frozen credit markets also presented a prime opportunity for the more widespread use of Islamic finance, he said, adding that the tenets of Sharia-compliance – prudent lending, shared risk and a ban on interest – would appeal to investors burnt by the global crisis.


“There is no doubt Islamic finance is ripe for further development. With banks still reluctant to lend the Sukuk is a viable and reliable alternative. There is a lot of value in this, and the markets are not taking full advantage of it,” he said.


“[Banks] are looking at Islamic finance as primarily asset-backed financing. I think they have to look at it as the concept itself – that there is no money that is not linked through to real economic value.”Al Shaibi was addressing delegates during the opening day of the QFinance Global Debates, held this week in Qatar to mark the launch of the QFinance reference book, a joint venture between QFC Authority and Bloomsbury Publishing.


Speaking on the sidelines of the event, Al Shaibi denied that Gulf governments had been reluctant to acknowledge the impact of the downturn on local economies and insisted the region was making strides towards improved transparency.


“The impact has been there – not one has claimed there was no impact,” he told Arabian Business. “But we have all along said at a macro level it has been manageable. And this is true.


You can see things have not really gone the way it has in the Western markets.“We can’t deny we are in the process of improving our transparency, and we won’t claim we are perfect. But the introduction of ratings agencies into our system is evidence that we are willing to disclose information.


It’s a dramatic move.”Qatar Petroleum is rated by credit agencies Moody’s and Standard & Poor’s. Al Shaibi said that market talk should pay less attention to what governments say, and take better note of what they do.“The Central Bank of Qatar at the end of 2008 looked at buying equities in the banks… and they have taken a step towards buying the investment portfolios.


Now, if you are saying the governments have taken these steps – how can you say there was no disclosure, or an attempt to claim there was no impact? Of course there was – that is why we took those steps. Our deeds speak louder than words.”

(NWO) World Bank President Admits Agenda For Global Government


April 2009 - September 2009 ...

NWO - Slowly, But Surely Taking Shape.


World Bank President Admits Agenda For Global Government

Bilderberg elitist Zoellick calls for IMF, WTO & World Bank to regulate national policy.

World Bank President and Bilderberg elitist Robert Zoellick openly admitted the plan to eliminate national sovereignty and impose a global government during a speech on the eve of the G20 summit.

Speaking about the agenda to increase not just funding but power for international organizations on the back of the financial crisis, Zoellick stated, “If leaders are serious about creating new global responsibilities or governance, let them start by modernising multilateralism to empower the WTO, the IMF, and the World Bank Group to monitor national policies.”

In other words, give global institutions the power to regulate national policy as part of the creation of global government.

What Zoellick is outlining is essentially the end of national sovereignty and the reclassification of national governments as mere subordinates to a global authority that is completely unaccountable to the voting public of any country.

The more cynical amongst us would call this a global dictatorship. Zoellick couches the plan in flowery rhetoric of helping the poor and alleviating poverty, but as we have documented for years, the global elite’s goal of world government has little to do with saving the planet and everything to do with creating a global fascist state.

As to be expected, Zoellick is a member of the Council on Foreign Relations and the Trilateral Commission. He also attended the annual invitation-only conferences of the Bilderberg Group in 1991, 2003, 2006 and 2007.

Meanwhile, British Prime Minister Gordon Brown will use the G20 summit in London to extend an olive branch to China, offering them a central role in the construction of a new world order and a global government, according to reports.

“Brown will hold talks with Hu Jintao, China’s president, following discussions with Barack Obama, amid signs that developing countries see the G20 summit as a chance to impose a new world order and end the era of Anglo-European dominance,” reports the Guardian.

Under the proposal, China will vastly increase its IMF funding in return for more voting rights.

A central focus of the G20 summit will be the proposal to supplant the dollar with a new global currency. Both the IMF and the United Nations threw their weight behind the implementation of a new global reserve currency system to replace the dollar, in the same week that Treasury Secretary Timothy Geithner told CFR globalists that he was “open” to the idea.

China and Russia brought the issue to the forefront of this week’s G20 when they jointly called for a new global reserve currency a week ago.

Brown has consistently called for global regulation of the financial system as a means towards global governance. In a speech at St Paul’s Cathedral in London yesterday he again called for a new “global society”.

September 25, 2009
The Group of 20 is set to become the premier coordinator on global economic issues, reflecting a new world economic
order in which emerging market countries like China are much more relevant, according to a draft communique.

Leaders of the G20 developed and developing nations also agreed to make the International Monetary Fund more representative by increasing the voting power of countries that have long been under-represented in the world financial body, said the draft G20 communique.

It called for a shift in IMF voting by at least 5 percent, although several G20 representatives said it was a 5 percentage point shift from developed to under-represented countries. Currently, the split in voting power is 57 percent for industrialized countries and 43 percent for developing countries. The shift would make the split nearly 50-50.

Following are some of the implications of the decisions:

* The shifts reflect a recognition by the United States and Europe of a new global economic reality in which emerging market economies play a bigger role, especially in the aftermath of the global financial crisis that hurt developed economies more than developing ones.

* By making the G20 the new global economic coordinator, countries are committing to maintaining cooperation even after the global financial upheaval and recession recede. The G20 was upgraded from a ministerial to a leaders-level forum only last year as the crisis deepened.

* Adopting the G20 as the new economic steering committee raises questions over the whether or not the Group of Eight, which makes up the world's industrial countries, will eventually be faded out. Diplomats said the G8 would continue to function but would focus on non-economic issues.

* The agreements are big wins for U.S. President Barack Obama, hosting his first international summit. Since his election last year, he has pushed for changes in the global financial architecture to recognize the increasing economic clout of China and other emerging markets.

The agreement to overhaul the IMF's voting structure is especially big for the new Obama administration, given that the United States proposed the 5 percentage point shift. The speed with which the G20 agreed to the change -- if the draft communique is eventually adopted -- is surprising because of the politically sensitive nature of the issue for Europe, which will see the biggest dilution in its voting power.

* Giving developing nations more say at the IMF and a bigger say in global economic affairs could help Obama succeed in his push to get big exporters like China to increase domestic demand, helping slower-growing economies like the United States to find new markets.

* The shift of at least 5 percentage points in voting power is the largest increase ever seen in the IMF's voting structure and is likely to see China overtake old European powers Britain and France which have long resisted the move.

* The G20 decision on IMF voting reform will give momentum to a 2011 deadline for overhauling IMF governance which will then be voted on by the IMF's 186 member countries.

* The G20 also agreed the head of the IMF should be selected based on qualifications and not nationality, according to the draft communique obtained by Reuters. The decision is significant because the head of the IMF has always been a European, while the president of the World Bank has always been an American.

CBK Governor heads to Turkey to participate in annual conference

CBK Governor heads to Turkey to participate in annual conference

Economics 9/30/2009 1:26:00 PM

KUWAIT, Sept 30 (KUNA) -- The Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdulaziz Al-Sabah heads to Istanbul on Wednesday to participate in the annual meetings of 2009 for the governors' council of the International Monetary Fund (IMF) and the World Bank.

The two-day meetings are expected to start on October 6.

Sheikh Salem is also expected to head a Kuwaiti delegation in the 20th meeting of the International Monetary and Financial Committee next Sunday, September 4, which is part of the IMF council of governors.

Speaking to KUNA, Sheikh Salem said the participants are expected to tackle issues related to the IMF activities, and the efforts of the international community in confronting and solving the impacts of the global financial meltdown.

The participants are also expected to discuss the performance of the international economy, the risks, future trends, policies that support the economy, he added.Participants are likely to discuss granting the IMF more power, and ways to prevent further financial crises.

The annual IMF and the World Bank meetings were held in the main headquarters in Washington for two years and it is to be inaugurated later in any member state.This is the second time where Turkey holds such meetings; the first time was in 1955.

Note: 2009 ~ UN Security Council demands that Iraq confirm compliance with the resolution 833 on the demarcation of the border with Kuwait ...

Note: bumped up from Last year ... same time ... same subject ... interesting ...


Hoshyar Zebari: UN Security Council demands that Iraq confirm compliance with the resolution 833 on the demarcation of the border with Kuwait

2009-09-30

Foreign Minister, Hoshyar Zebari, the existence of proposals and consultations among Security Council members, Iraq and Kuwait to reach a reasonable and appropriate formula take into account the interests of both parties in order to drive Iraq from Chapter VII of the Charter of the United Nations.

Zebari said in an interview with Kuwait News Agency (KUNA) "after the deployment of the Secretary General of the United Nations report to the members of the Security Council last July show that there are a series of steps the Iraqi government regarding the implementation of re-confirmation and compliance with the resolution 833 on the limits of independence and sovereignty of Kuwait is not unequivocally by the Iraqi government before the Security Council or Secretary-General.

"He added there were "some technical issues that must be addressed including the issue of maintenance of border signs and issues of missing persons and prisoners of war and followed up the issue of common property and follow-up more seriously and the issue of compensation."

With regard to Security Council Resolution 833, which limits the Iraq-Kuwait Al Zebari said:

"During the next phase we will study and follow up this issue with all levels of government and leadership in the country so that a unified position." The resolution confirms 833 to demarcate the border between Iraq and Kuwait, as approved by the ICRC and have carved out a large part of Iraqi territory and annexed it to Kuwait as a result of sanctions imposed on Iraq in 1991.

Zebari said that there was "a desire to form a committee (international) to help the two countries in matters of maritime navigation if there were any problematic or technical assistance to expand and deepen the waterways between the two countries while retaining his or her country and on its borders and territorial waters as provided for in international law."He stressed that "there are no problems on the land border, there were some problems with regard to some of the waterways" because of the wars that caused the sinking of ships became impede navigation and forcing the ships to move water from one State to another which is "something needs to be organized," adding that " personally do not see any problems or obstacles stand in the way of the development of Iraqi-Kuwaiti relations and growth. "

Zebari stressed that the problem only with respect to the land boundary is the maintenance of signs, adding that he "already the Iraqi government should be given an explicit commitment, clear and strong Security Council resolution 833 which relates to the border."He expected that the coming period would witness a movement politically and diplomatically in the direction of resolving the pending issues.

Zebari described the meetings held in New York last week between him and the Kuwaiti Prime Minister Nasser al-Ahmad al-Sabah, Deputy Prime Minister and Foreign Minister Mohammed Sabah Al Salem Al Sabah and met with President Jalal Talabani as "good and positive.

""We discussed relations between Baghdad - Kuwait depth and clearly and frankly and cordially also," noting that "no sense of good feeling Kuwait to help Iraq out of Chapter VII with its implementation of its remaining obligations ... I turned for all the sincere desire.""

We have noted during the discussions that took place here that there is a desire and seriousness of the parties to move forward in establishing strong ties and based on common interest, mutual respect and respect for the independence and sovereignty of both countries without any interference.

Zebari said that there is an invitation some time ago to the Kuwaiti prime minister to visit Baghdad, saying that the invitation list, "but we want to forbid it and that culminate in concrete and practical results in the interest of both countries."

http://translate.google.jo/translate?hl=ar&sl=ar&tl=en&u=http://www.ipairaq.com/index.php

Kuwait-Iraq ties 'on right track'

Published Date: October 01, 2009

UNITED NATIONS: Iraq's Foreign Minister Hoshyar Zebari stressed on Tuesday that his country should reemphasize its compliance with international resolutions on Kuwait and Iraq.

Interviewed on the sidelines of the 64th General Assembly of the United Nations (UN), Zebari said that the Iraqi government should strongly and clearly state its compliance with the UN Security Council's Resolution 833 on borders.

Some technical issues, such as the maintenance of border marks, joint monitoring of issues related to prisoners and the missing, property and compensation, needed to be resolved, he added.Proposals and talks are taking place between members of the Security Council and our brothers in Kuwait to reach a reasonable and suitable wording that considers the interests of the two sides," he said.

There is a desire to form an [international] committee to help the two countries in marine navigation issues if there are technical difficulties or to provide assistance to widen and deepen water passageways between the two countries with the preservation of rights, borders and regional waters according to international law, he noted.

There are no problems regarding land borders, but there are some problems on some waterways due to wars that caused the sinking of ships, hindering navigation and forcing vessels to move from one country's waters to those of another, which require organization, he said.I personally do not see that there are any problems or obstacles facing the development and growth of Iraqi-Kuwaiti relations," he stressed.Zebari said he expects that the upcoming period will witness political and diplomatic efforts to solve all the unresolved issues.

The Iraqi minister described his meetings last week with His Highness the Prime Minister of Kuwait Sheikh Nasser Al-Mohammad Al-Sabah and the state's Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Sabah and their meetings with Iraq's President Jalal Talabani as "positive."

"We thoroughly, clearly, frankly and cordially discussed Iraqi-Kuwaiti relations, he stated.

Zebari said that he believes that Kuwait wants to help Iraq to exit Chapter VII with the execution of its remaining obligations. "We noticed during the talks that the two sides have a serious desire to establish strong relations based on mutual interests, reciprocal respect and respect of the two countries' independence and sovereignty without any interference," the minister emphasized.He said that His Highness Sheikh Nasser Al-Mohammed had previously been invited to visit Baghdad, adding that the invitation still stands.

- KUNA

Ban Ki-moon pledges of Kuwait to the maintenance of border signs between Kuwait and Iraq before the end of this year, Kuwait's policy in Iraq



September 22, 2009

Ban Ki-moon pledges of Kuwait to the maintenance of border signs between Kuwait and Iraq before the end of this year, Kuwait's policy in Iraq

KUNA: maintenance of UN Secretary-General Ban Ki-moon to the Prime Minister Sheikh Nasser Al-Mohammed, during their meeting at the United Nations the day before, the completion of the maintenance of border signs between Kuwait and Iraq before the end of this year, and work to end the Security Council resolution in this regard.

The Deputy Prime Minister and Foreign Minister Sheikh Dr.. Mohammad al-Sabah for «KUNA» Following the meeting, said that «the discussion dealt with relations between Kuwait and Iraq, and the need to implement international resolutions, especially resolutions 833 and 773

He met with His Highness the Prime Minister, with U.S. Special Envoy in charge of the closure of Guantánamo Daniel Fried in late night yesterday

The Sh. Mohammad al-Sabah said in a statement after the meeting «Kuwait refused to be dealt with the issue of Kuwaiti detainees in Guantanamo in a manner not do justice to these», adding that «remain in custody without any trial is . We can not accept it

The foreign minister said that «the talks in this regard was long, and we agreed to be delivered two of the four remaining Kuwaiti prisoners at Guantanamo, and that they (in need of rehabilitation) after a long imprisonment, noting that Kuwait has built a rehabilitation center under the Ministry of Health

He pointed to the agreement on the preparation of «special cooperation protocol under which the extradition of two of the detainees, to be shortly thereafter, to hand over detainees remaining to be close this file once

His Highness the Prime Minister attended the opening session of the climate change summit at the United Nations yesterday, the largest ever of world leaders to discuss climate change, which is headed by His Highness within its framework, together with the President of Finland Tarja Halonen, a round table on climate change, attended by about 28 heads of state in a critical summit to mobilize political will, and the generation of the payment required to reach an ambitious agreement in the forthcoming United Nations Conference on Climate Change in Copenhagen, Denmark, later this year.

Tuesday, September 29, 2009

Thursday, October 1st, talks between Iran and the P5+1 in Geneva.

Wednesday September 30, 2009

Obama's Announcement About Iran's Secret Enrichment Facility


Friday’s announcement by President Barack Obama and his French and British counterparts about Iran’s covert nuclear activities had all the ingredients of a blockbuster – three heads of state, the international press corps, a dramatic revelation, and stark warnings about the consequences facing Tehran. Indeed, the President’s disclosure that Iran has constructed a covert uranium enrichment facility represented a dramatic effort to increase the pressure on Iranian leaders on the eve of highly anticipated talks between the Islamic state and major world powers on the nuclear issue.

But where Iran is concerned, actions often have an equally thorny reaction. While the Presidential press briefing succeeded in gaining headlines, it is hardly certain that it will have the intended impact on next week’s talks between Iran and the P5+1 in Geneva. Rather than unnervering Tehran and inducing a more cooperative approach to the nuclear negotiations, today’s blockbuster may only further entrench the regime’s recalcitrance – and leave Washington with no more viable alternatives for curbing Iran’s nuclear ambitions.

At first glance, the timing of the announcement may seem like an ideal way to force Tehran’s hand. But in reality, the decision to go public today was prompted by the Iranians themselves, who provided a belated and incomplete disclosure earlier this week to the International Atomic Energy Agency after learning of its discovery. That was the first step in Tehran’s damage control efforts, but surely not the last. Expect the Iranians to parse any legal technicalities they can muster to justify their violation

By the time next week’s talks begin, whatever apprehension the Iranian leadership may have felt about the world’s discovery of their latest nuclear deception may well be replaced by a more familiar Iranian emotion – defiance. When backed into a corner, Tehran tends to lash out. Today’s splashy public announcement was an impressive American power play, but subtler, more Machiavellian tactics of communicating our capacity to uncover all of Iran’s tricks might have gone further toward influencing Iran’s current hard-line leadership.

The Obama Administration should gain some boost for its public diplomacy efforts to persuade skeptical governments and the international community more broadly of the dangerous nature of Iran’s nuclear program. But here too, there is probably less than meets the eye; at this late date in the debate, the Iranian regime has relatively few defenders, and anyone who still needing convincing that Iran’s massive, frantic nuclear investments involved something more worrisome than civilian power generation probably will find a way to disregard this latest evidence.

Beyond next week’s negotiations, the real question about today’s announcement is its impact on decision-makers in Moscow and Beijing, whose posture will make or break any efforts to impose rigorous sanctions on Iran. Here too, it would be a mistake to leap to optimistic conclusions.

Washington reportedly has known of the facility’s existence for years, and if this information was shared with the other members of the P5+1, then its existence has not yet persuaded their capitals to support serious sanctions. More to the point, the difficulty with assembling international support for robust economic measures against Iran has never involved doubt over Iran’s intentions or differences over the desirability of preventing Iran from crossing the nuclear threshold. Rather, the long track record of Russia and China on this issue has made it clear that neither capital will fully jettison its strategically and economically valuable relationship with Tehran in order to curtail Iran’s nuclear ambitions. Despite the hoopla in Pittsburgh, it seems overly sanguine to presume that today’s announcement will transform that calculus.

September 29, 2009

Flashback: Brookings Publication Mentions Possibility of ‘Horrific Provocation’ to Trigger Iran Invasion

Editor’s note: The following article first appeared on Prison Planet on June 29, 2009.

In a recent policy paper published by the influential Brookings Institute, the authors propose almost anything to guarantee dominance of Persia by the new world order, including bribery, lying, cheating and mass murdering by an all-out military assault on Iran. The paper ‘Which path to Persia: Options for a New American Strategy toward Iran’ is just one of many recent and not so recent examples of the firm intent of the globalists to engage Iran militarily and acquire its natural resources in the same effort.


Reminiscent of the Pearl Harbor-quote by raving neocons pre-9/11, the authors continue imagining how excellent it would be to have an Iranian-sponsored terror attack within the US to trigger war and march off toward Iran.

The group of authors — a cozy little convergence of globalists — contemplate four separate options on ‘how to deal with Iran’ in the cold bureaucratic language that poses as scientific but really amounts to nothing more than the intelligent musings of a calculating psychopath.

The first option, ‘Dissuading Tehran’ through diplomatic means is being discussed as something tried, tested and discarded. The second option, ‘Disarming Tehran’ covers several ways of rallying the ‘international community’ around the globalists’ intentions. In the third part, ‘Toppling Tehran’, the warmongering increases as the writers contemplate both covert and overt military action against the Islamic Republic of Iran. In the fourth and last section, ‘Deterring Tehran’ the option of ‘containment’ is elaborated upon. The proposed final strategy predictably involves all of the above mentioned options, in roughly the same order of appearance.

To ensure the cooperation of surrounding countries, the authors propose bribery as an effective tool. After the authors assert that ‘it may be necessary to cut some deals in order to secure Moscow’s support for a tougher Iran policy’, the authors continue with their ‘brainstorming’, advising a widespread bribery campaign in order to ensure international cooperation in regards to Iran:

‘Other countries also will want payoffs from the United States in return for their assistance on Iran. Such deals may be distasteful, but many will be unavoidable if the Persuasion approach is to have a reasonable chance of succeeding.’ And further on: ‘To be successful, a Persuasion approach would invariably require unpleasant compromises with third-party countries to secure their cooperation against Iran.’

This means the US will have to cut all kinds of deals with dictators, bloodthirsty local tyrants and other corrupt kings of Arabia- even facilitating them with weapons. Besides rallying the ‘international community’ around the Anglo-American establishment with the help of these ‘unpleasant compromises’, the paper stresses it will also be necessary to persuade the Iranians themselves to topple their government (page 39):

‘Inciting regime change in Iran would be greatly assisted by convincing the Iranian people that their government is so ideologically blinkered that it refuses to do what is best for the people and instead clings to a policy that could only bring ruin on the country.’

But the authors underline the necessity of creating a favourable climate for the transnationalists in which to operate.

Any military operation against Iran will likely be very unpopular around the world and require the proper international context. The best way to minimize international opprobrium and maximize support (however, grudging or covert) is to strike only when there is a widespread conviction that the Iranians were given but then rejected a superb offer- one so good that only a regime determined to acquire nuclear weapons and acquire them for the wrong reasons would turn it down. Under those circumstances, the United States (or Israel) could portray its operations as taken in sorrow, not anger, and at least some in the international community would conclude that the Iranians “brought it on themselves” by refusing a very good deal.’

Here the authors seem to abandon even the facade of civility as they proceed. Even though the authors put these vile warmongering words in quotes, they cannot mask the mindset. They mean to rally the ‘international community’ through bribery and deceit- as a steppingstone towards military strikes. The path toward such military strikes will be made smooth by economically strong-holding surrounding countries, forcing them to accept western military action as well as the justifications for it without question.

Military action. This is as acutely on the mind of the current chickenhawks, as the invasion of Iraq was on that of the neocons in the last couple of decades. Apparently, the authors feel compelled to give a justification for the bravura that’s dripping from their manuscript.

‘We chose to consider this extreme and highly unpopular option partly for the sake of analytical rigor and partly because if Iran responded to a confrontational American policy — such as an airstrike, harsh new sanctions, or efforts to foment regime change — with a major escalation of terrorist attacks (or more dire moves against Israel and other American allies), invasion could become a very “live” option.’

As the geopolitical feeding frenzy increases, the authors clearly begin to lose their cool as they begin to talk about the real plan behind all this elaborate brainstorming, reflecting the long-term agenda of the globalists for whom they work:

‘Like Iraq’, the authors state, ‘Iran is too intrinsically and strategically important a country for the United States to be able to march in, overthrow its government, and then march out, leaving chaos in its wake … Iran exports about 2.5 million barrels per day of oil and, with the right technology, it could produce even more. It also has one of the largest reserves of natural gas in the world. These resources make Iran an important supplier of the energy needs of the global economy. Iran does not border Saudi Arabia — the lynchpin of the oil market — or Kuwait, but it does border Iraq, another major oil producer and a country where the United States now has a great deal at stake.’

And exactly in line with their masters tendency of using false flags, they allow themselves the luxury of speculating openly about a possible ‘provocation’ to escalate things to the point of armed conflict.

It is not impossible that Tehran might take some action that would justify an American invasion. And it is certainly the case that if Washington sought such a provocation, it could take actions that might make it more likely that Tehran would do so (although being too obvious about this could nullify the provocation). However, since it would be up to Iran to make the provocation move, the United States would never know for sure when it would get the requisite Iranian provocation. In fact, it might never come at all.’

Now that would be a great disappointment, wouldn’t it. Under the headline ‘The Question of a Provocation’ on page 66, the authors press the point even further:

‘With provocation, the international diplomatic and domestic political requirements of an invasion would be mitigated, and the more outrageous the Iranian provocation (and the less that the United States is seen to be goading Iran), the more these challenges would be diminished. In the absence of a sufficiently horrific provocation, meeting these requirements would be daunting.’

Reminiscent of the Pearl Harbor-quote by raving neocons pre-9/11, the authors continue imagining how excellent it would be to have an Iranian-sponsored terror attack within the US to trigger war and march off toward Iran. During all this, the authors are aware how unlikely it is that Iran would actually commit such an attack on American soil (probably because they know who is usually responsible for such mass terror attacks):

‘Something on the order of an Iranian-backed 9/11, in which the plane wore Iranian markings and Tehran boasted about its sponsorship.(…). The entire question of “options” become irrelevant at that point: what American president could refrain from an invasion after the Iranians had just killed several thousand American civilians in an attack in the United States itself?’

Regarding the question of international support for an US invasion of the Islamic Republic, the Brookings people lament:

‘Other than a Tehran-sponsored 9/11, it is hard to imagine what would change their minds.’

The same goes for their plans in regards to that old favorite of the elite, covert psychological warfare, in order to subdue a sovereign nation. In chapter 7 of the manuscript, called ‘Inspiring an Insurgency’, it examines the possibility of propagandizing the Iranian people into helping out the globalists loot their nation:

The core concept lying at the heart of this option would be for the United States to identify one or more Iranian opposition groups and support them as it did other insurgencies in Afghanistan, Nicaragua, Kurdistan, Angola, and dozens of other locales since the Second World War. The United States would provide arms, money, training, and organizational assistance to help the groups develop and extend their reach. U.S. media and propaganda outlets could highlight group grievances and showcase rival leaders.

Isn’t that a familiar sight? Could one way to ‘highlight’ group grievances be to mass distribute the death of a poor woman and then claim it’s all thanks to Twitter?

All this hinting at another false-flag attack underway and prepping the international community for a future invasion of Iran is becoming increasingly serious as the warmongering is being stepped up. This is the time to fix our eyes upon these globalists and their think tanks. If their blatant arrogance permits them to openly publish their bloodthirsty musings, we should be vigilant enough to pass this knowledge around lest we have another 9/11 on our hands.

Source:

**Minimizing Potential Threats from Iran: Assessing Sanctions and Other U.S. Policy Options


The Committee of Governors of Monetary Agencies and Central Banks in GCC Hold its 49 in Abu Dhabi

September 29, 2009

The Committee of Governors of Monetary Agencies and Central Banks in GCC Hold its 49 in Abu Dhabi

Secretariat - Riyadh:

Held in Abu Dhabi on Tuesday, 29/9/2009, Forty-ninth meeting of the Committee of Governors of Monetary Agencies and Central Banks in the GCC States to Gulf Arab states.

The Commission will discuss during the meeting a number of issues in the forefront of what the Commission is concerned the decision of the Supreme Council on the proposal of the Custodian of the Two Holy Mosques to speed up performance and eliminate the obstacles that obstruct the march of joint economic action and visuals of the Advisory Body of the Supreme Council on the phenomenon of high inflation rates in GCC countries and the mechanisms proposed to address them, which approved by the Supreme Council at its (29), which was held in Muscat last December.

The meeting will discuss the recommendations of the technical committees operating under the Commission and on the preparations for monetary union of the GCC (the technical committee for the currency union, and the technical committee for payment systems, and the Commission on control and supervision of the banking system). We will also review the financial and monetary developments, the Council states.

Zoellick: Currencies to be Discussed in Istanbul

Zoellick: currencies to be discussed in Istanbul

The Associated Press 29 Sep 2009

LONDON - Currency issues will likely be discussed at this week's annual meeting of the World Bank and the International Monetary Fund, the bank's president said Tuesday.

Robert Zoellick did not say which currencies could make the agenda at the meeting in Istanbul, Turkey, saying only that "if you have a currency that has a weakness, that will affect other currencies, and that can affect trade.

Speaking in a teleconference briefing for reporters, Zoellick reiterated recent remarks that the U.S. dollar's status as the world's reserve currency should not be taken for granted. But he downplayed suggestions that the end of the dollar's hegemony was inevitable, saying other major currencies, including the euro, also face challenges.

He said that with appropriate action, the U.S. should have a "strong dollar." Zoellick said China has played a "very constructive" role during the global recession by using fiscal and monetary policy to boost its economy, but that the ensuing credit expansion will need to be taken back.

In the longer-term, China must move away from export-based growth to greater domestic demand and consumption, Zoellick said, but added that many countries were in the same situation, including Japan and Germany.

The Chinese government is taking steps to make these "structural shifts," but this is "not going to happen overnight," he said. Many analysts think the best way for China to rebalance its economy, and in the process rebalance the world economy, is to let its currency — the yuan — rise more quickly in value against the dollar to which it is pegged.

A higher currency makes imports, priced in dollars, cheaper and would help reduce the U.S.'s massive trade deficit with China. So far, Chinese revaluation of its currency has been slow.

Art Cashin: Don't Be Fooled by 'La Cage Aux Folles' Market

http://www.cnbc.com/id/33074019

GCC countries to have unified inflation data

GCC countries to have unified inflation data

Wednesday, September 30, 2009

Gulf countries are working to unify their inflation statistics to bring them in line with international standards and support economic integration plans, Chairman of the Council of Governors of Arab Central Banks and Monetary Agencies, said yesterday.


Hamood Sangour Al Zadjali said the six Gulf Cooperation Council (GCC) members have created special committees to work on the project following a decline in inflation rates in the region this year. "We discussed steps to realign statistics to ensure there is a common ground to determine the inflation rate in the GCC.

Concrete steps are being taken so the authorities should combine their efforts to have more realistic figures on inflation," Zadjali said after the meeting of the GCC central bank governors."Several committees have been set up for this purpose and they are working on a common ground for calculating inflation by adopting recognised international standards.

We have noticed inflation rates have come down because of supply-demand factors, the strengthening of the dollar and other factors. We are pushing ahead with those plans to reach a common ground.

"The GCC was created in 1981. A year later, the six members signed an economic pact that involves creation of a customs union, a common market and a currency union.

The first two projects have materialised, while the monetary union could be launched in 2010 by four members following the withdrawal of the UAE and Oman. Inflation hit double digit in most GCC countries last year, but it has sharply declined over the past few months.

Inflation last year was estimated at 15 per cent in Qatar, 12.3 per cent in the UAE, 12 per cent in Oman, 10 per cent in Kuwait, 9.9 per cent in Saudi Arabia and 3.5 per cent in Bahrain.

FTA between GCC, EU expected to be sealed next March

FTA between GCC, EU expected to be sealed next March

KUWAIT CITY, Sept. 29 (Xinhua) -- The long-awaited negotiations on a Free Trade Agreement (FTA) between the European Union (EU) and the Gulf Cooperation Council (GCC) is expected to be completed by next March, a Kuwaiti senior official said Tuesday.

The two blocs were continuing "consultations" on the initiative although disagreements have forced the talks to be halted, said Adnan al-Kandari, director of the Finance Ministry's Economic Negotiation Department.

The six-nation GCC started talks with the 27-member EU 19 years ago in efforts to boost exports to Europe and bring more influx of foreign direct investment to member states.

But the GCC said last December it had suspended talks with the EU to sign the world's first region-to-region free trade accord, after years of dormancy and hard negotiations.

GCC Secretary General Abdurrahman bin Hamad Al Attiyah blamed the EU for relating the free trade pact with political issues such as human rights.

Attiyah also criticized the regional bloc for imposing high taxes on exports from GCC.

"Political issues, such as the human rights situation, were needlessly brought into these trade negotiations," Al-Kandar said.

Established in 1981, the GCC groups Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates and holds around 40 percent of the world's oil reserves.

Iraqi president''s health described as excellent

Iraqi president''s health described as excellent

9/29/2009 10:21:00 PM

BAGHDAD, Sept 29 (KUNA) -- The Iraqi Presidency affirmed on Tuesday that the health of President Jalal Al-Talabani was "excellent" and that doctors advised against conducting a surgery in his keen.


The Presidency said in a statement that the president, currently in the United States, underwent medical checkups at Mayo Clinic in Rochester, Minnesota, noting that the checkups showed that his health condition was "excellent." Citing a medical source, it said that doctors advised against conducting a surgery in his left knee for such a procedure was not necessary Al-Talabani had to be treated in the past of infection in his left knee.

The official statement added that he would return home soon to resume his official services.

Al-Talabani, 75, underwent treatment at Mayo Clinic in August last year.

In February 2007, he was flown to a hospital in Jordan suffering from exhaustion and dehydration. Al-Talabani also heads the Patriotic Union of Kurdistan (PUK), one of the two main political parties in the semi-autonomous region of Iraqi Kurdistan. He spent many years fighting for Kurdish rights.

(end) ah.rk KUNA 292221 Sep 09NNNN

US To Send Home Thousands More Troops From Iraq


09/29/09 08:15 PM

US To Send Home Thousands More Troops From Iraq

WASHINGTON — The top general in Iraq is sending home 4,000 more U.S. troops by the end of October as the American military winds down the six-year war. Army Gen. Ray Odierno said in remarks prepared for a congressional hearing Wednesday that the number of U.S. soldiers in Iraq will total about 120,000 over the next month.

He said that will mean about 4,000 fewer troops than are in Iraq now – about the size of an Army brigade.

"As we go forward, we will thin our lines across Iraq in order to reduce the risk and sustain stability through a deliberate transition of responsibilities to the Iraqi security forces," Odierno said in a statement he was to deliver before the House Armed Services Committee.

A copy of the testimony was obtained Tuesday by The Associated Press.

A Defense Department official confirmed Odierno planned to announce at the House hearing that he is reducing the number of brigades in Iraq, as has been long expected.

In his eight-page statement, Odierno cited data showing that the monthly number of attacks in Iraq have dramatically dropped over the last two years – from more than 4,000 in August 2007 to about 600 last month. He also said that far fewer al-Qaida and foreign fighters remain in Iraq, and most of those who are left are criminals and disenfranchised Iraqis who have been recruited by what Odierno described as a "small ideological core" of insurgents.

Despite cautious optimism, Odierno's outlook of the nation he called an enduring U.S. interest was far from rosy.

He predicted several looming problems as U.S. troops prepare to end combat missions by September 2010 and leave Iraq at the end of 2011. They include:

_A pair of truck bombings Aug. 19 at Iraq's finance and foreign ministries, which killed about 100 people in Baghdad, revealed "a clear security lapse," Odierno said.

_Iraqi officials have yet to agree on a system of government that is accepted across what Odierno described as ethnic, sectarian and regional lines. He described a power struggle between provincial officials and Baghdad and said long-standing tensions continue to stall progress between Arabs and Kurds.

As the January elections approach, military officials have identified Arab-Kurd tensions as one of the top concerns for potential violence, especially in contested territories in the oil-rich north that each side claims as its own. Still, Odierno said the darkest days of the Iraq war seem to be long gone, citing failed efforts by extremists still seeking to destabilize the nation.

"The overwhelming majority of the Iraqi people have rejected extremism," Odierno said. "We see no indications of a return to the sectarian violence that plagued Iraq in 2006-2007."

_Although Iraqi leaders had planned to find government jobs for all members of a group known as Sons of Iraq who helped curb the insurgency, "we do not believe they will meet this timeline," Odierno said. "We continue to monitor the progress of this program very closely."

Iraq's government promised to open thousands of police and military jobs, dominated by Shiites, to the Sons of Iraq, who are mostly Sunni. But the government has been accused by Sunnis of dragging its feet on integrating the jobs. Odierno, however, said 23,000 former Sons of Iraq have begun working in government jobs since 2008, and 5,000 more will start next month.more

Tareq al-Hashemi discuss with the Japanese ambassador in Iraq, ways to strengthen economic relations between the two countries

Tareq al-Hashemi discuss with the Japanese ambassador in Iraq, ways to strengthen economic relations between the two countries

2009-09-29

BAGHDAD (Iba) .. Research Vice President Tareq al-Hashemi with the Japanese ambassador in Baghdad on Tuesday discussed bilateral ties between the two countries in various fields, especially the economic aspect.

A statement issued by the Office of the Vice President of the Republic received by the independent press (Iba) said Tuesday that al-Hashemi also studied with the Japanese ambassador ways of activating the role of Japanese companies to enter the Iraqi market in order to contribute in the reconstruction of the country.

The statement was also raised during the meeting to the possibility of the establishment of the Iraqi Economic Forum, Japanese businessmen second Iraqi _ Japanese to be held in Baghdad during the month of December where the promise of sovereignty next step with other developed within the framework of deepening economic ties between the two countries, although the timing too late without justification .

And al-Hashemi said that "Japanese companies do field visits to various provinces of Iraq, in order to identify the working conditions and security environment and the investment climate are needed," and expressed hope that "happen in the near future."

On the other hand the two sides exchanged views on the current political situation and the legislative elections scheduled early next year in Iraq, along with the political changes that have occurred in Japan recently due to the recent elections.

In a press statement after the meeting, Ambassador of Japan to the meeting "focused on bilateral relations between Iraq and Japan", indicating Japan will have a "big role in making the investment portfolio and the entry of Japanese companies into the Iraqi market."

(End) / g / ..

International Monetary Fund gives Iraq $ 1.8 billion to address the economic crisis

International Monetary Fund gives Iraq $ 1.8 billion to address the economic crisis

2009-09-29

BAGHDAD (Iba) / follow-up

A source in the Iraqi Central Bank, the IMF will provide Iraq with $ 1.8 billion to help it emerge from the global recession.

And the relocation of Dow Jones, Economic Advisor to the Central Bank of the appearance of Qasim as saying on the sidelines of a meeting between Iraq and the International Monetary Fund held in the Jordanian capital of Amman, "the purpose of money is to support the liquidity and improve growth in the Iraqi economy."

Qassim stated that it is expected to spend money on infrastructure projects.

It also adds a large deficit in the budget, estimated at 19 billion dollars this year, pressure on the government to urge them to find new sources of funding.

In addition, close to the International Monetary Fund and Iraq to complete the deal of a standby loan of 5.4 billion dollars, payable in two installments over five years at an interest rate slightly more than 1%.

Earlier, the Chairman of the CBI on the sidelines of a meeting of Central Bank Governors held in Abu Dhabi, it can be accomplished financing deal with the IMF during the annual meeting of the Organization to be held in Istanbul from October 6.

Kacem added that inflation in September is expected to be about the same level recorded last month.

The inflation in August rose to 10.8% compared with 7% in July, soon the impact of the decline in agricultural production and rising food prices.

The Adviser reported that it is expected that the economic growth in the non-oil sector in Iraq, 5% during the first nine months of this year.

The central bank issued treasury bonds worth 2.6 billion dollars for the financing of energy projects is necessary, in the words of Qasim.

He referred in this connection that the central bank rejected calls for more government, which demanded the issuance of additional treasury bonds to finance other projects.

(End) / g / ..

General Manager of Bank of Iraq: we have issued (651, 660) A smart card
















General Manager of Bank of Iraq: we have
issued (651, 660) A smart card

29/9/2009

Professional staff issued a smart card (651. 660) A card during the past period for the introduction of modern technology in the work of Iraqi banks.

A media source in the Ministry of Finance's (Agency Iraqi media / conscious) that "the General Manager of Bank of Iraq Abdul-Hussein al-Yasiri said that staff on the issuance of smart card-issuing (635. 412) A card through Bank

Rivers and (624. 168) a card through a bank branch
Governance, pointing out that all bank branches in Baghdad and the amount of (47) branches operating in the smart card project, as well as "on the branches of the central region."

The source added that "Yasiri pointed out that work is underway to activate the work in provinces across Iraq, where next month will see the activation of the project (POS) which is the system under which a citizen smart card holder as well as buying and selling on the theme of remittances and savings by using the smart card, which will benefit of the Iraqi citizen. "

------------------------
Last updated - Wednesday 30 September 2009 --

Finance announces possibility of taking salaries from banking companies
Seeking to activate the use of smart card to reallocate money and deposit
BAGHDAD - Wafa Amer
Ministry of Finance announced the possibility of recognizing and retirees covered by the subsidies and the salaries of social protection paid by the banking companies, the adoption of smart card starting next month, with confirmed its issuing more than 660 thousand cards through bank branches of governance and Iraq.
The general director of Bank of Iraq Abdul-Hussein al-Yasiri in a meeting yesterday with directors of bank branches in Baghdad:
The number of smart cards issued by banks and governance in Iraq across the country reached 660 thousand and 651 cards, divided by 491 thousand and 927 card issued by the Bank of Mesopotamia, in exchange for 168 thousand and 624 card by a bank governance. and emphasized during the meeting which was attended by the "morning" that the bank is going to open branches across the country, which will be next week, opening a branch in Najaf, bringing the number of branches to 160 in Baghdad and all the provinces.
Yasiri Turning in his speech to the banking system overall, indicating that the bank is nearing completion on the completion of all phases of the program, which provides banking and financial transactions in real time with all the countries of the world, stressing that there is cooperation with 30 thousand companies are distributed between different parts of the world, explained by saying that "whenever the expansion program will increase the number of companies that we deal with in addition to the increase in banking.
"For his part, an expert in Abu Yes Rafidain oil during the meeting that there are 255 used for the smart card, including 63 financial service, noting that the Bank seeks in each stage to activate most of these uses.
He said he will be starting from next October, the exchange offices operations salaries are paid to holders of the smart card and not to limit the banks, noting that there is coordination with all the banks in addition to the company's global smart card to an agreement with a number of banking centers based in Baghdad, which has the potential to enable broad from paying salaries to holders of the smart card.
He said the move aims to reduce the momentum of banks during the distribution of salaries, while stressing that the bank is now considering the possibility of activation of the system Altoveran through the card so as to enable users to have withdrawn the money it needs from the salary and not the full amount and deposit the remaining balance.
He added that Abu oil are now preparing for the possibility of transferring funds between cardholders, where the card holder can transfer part of the amount to another card holder, as well as the addition of global coordination to the card with a number of companies in the world, hoping that will soon be completed of special measures so that it provides to clients of the banks who own the smart card to withdraw money from any country in the world.

Pullout was not to block currency union
















Arab central bank governors at the meeting in
Abu Dhabi yesterday.

Pullout was not to block currency union

Tuesday, September 29, 2009

The UAE said yesterday it pulled out of a planned Gulf monetary union early this year because it did not want to block the implementation of the project over a row on the location of the regional central bank.

Central Bank Governor Sultan bin Nasser Al Suwaidi said there were no discussions on a possible UAE return to the landmark currency union, which could be launched in 2010 by four Gulf Co-operation Council (GCC) nations.

"We have given the opportunity to our brothers in the other GCC countries to go ahead with the monetary union because we have certain concerns in issues relating to this union," Suwaidi told reporters in Abu Dhabi."So we don't want to act as a stumbling block in this project… we are not discussing this issue at present.

As I have said, it is not a matter of a compromise but it is that of a brother who decides to stay behind to let his other brothers go ahead and finish the work. We took this move to let our brothers [in the GCC] to achieve the monetary union as fast as possible."Saudi Arabia, Kuwait, Qatar and Bahrain are pushing ahead with plans to launch the Middle East's first currency union despite the withdrawal of the UAE this year and Oman two years ago.