North Korea Sharply Revalues Currency: Report 2

01 December 2009

North Korea sharply revalues currency: Reports

AFP - North Korea has sharply revalued its currency by issuing the first new banknotes for 17 years in an apparent attempt to curb inflation and clamp down on black-market trading, reports said Tuesday.

The hardline communist government implemented the change Monday morning, causing panic and confusion in the markets, Yonhap news agency and other South Korean media reported.

Yonhap, reporting from the northeastern Chinese city of Shenyang, said the exchange rate for the new currency is 100 to 1, with old-denomination 1,000-won notes being replaced by new 10-won notes.

"Many citizens in Pyongyang were taken aback and in confusion," it quoted a North Korean source engaged in trade with China as saying.

"Those who were worried about their hidden assets rushed to the black market to exchange them for (Chinese) yuan or US dollars. The yuan and the dollar jumped."

South Korea's Chosun Ilbo newspaper and the Daily NK, a Seoul-based Internet newspaper, carried similar reports.

Seoul's unification ministry, which handles cross-border relations, said it was checking the reports but noted there had been no official announcement in Pyongyang's media.

Cho Bong-Hyun, a specialist on the North's economy at Seoul's IBK Economic Research Institute, said the reported move was to tackle corruption and tame inflation.

"The sudden and bold manner the move was implemented indicates the government's intention to identify and send a warning to those who have amassed wealth illegally and unfairly," Cho told AFP.

Officially the North Korean won trades at 135 to the dollar. Cho said the current black market rate is between 2,000-3,000 but could soar to 20,000 if there is an acute dollar shortage.

The North issued new banknotes in 1949, 1959, 1979 and 1992 but the denominations remained unchanged except in 1959 when new notes were exchanged for old at a 100-to-1 rate.

Yonhap said the main aim appeared to be curbing inflation because the currency's value had slumped since economic reforms were introduced in 2002.

The reforms, to make wages and prices more realistic and introduce limited market freedoms, were largely rolled back in 2005. Authorities have lately been clamping down on free markets in an apparent attempt to reassert the regime's control.

Yonhap said the North may also have wanted to flush out funds from the underground economy, including money from citizens working abroad.

The country is mounting a national campaign to rebuild its crumbling economy by 2012, the 100th anniversary of the birth of its founder Kim Il-Sung.

Yang Moon-Soo, of Seoul's University of North Korean Studies, said authorities aim both to tame inflation and to trace citizens who have amassed wealth either legally or illegally.

Those who feared punishment would have to bury their illegally earned money, he told Yonhap. "There will be less cash circulating in the market and more government control of the people."

Daily NK, in a story datelined Shenyang, said Monday's move caused alarm in markets. "When the news spread in the jangmadang (markets), people panicked," it quoted a source in the northeastern province of North Hamkyung as saying.

A source in the western city of Sinuiju, on the border with China, told the paper: "Traders gathered around currency dealers. Chaos ensued when currency dealers tried to avoid them."

Chosun Ilbo said the revaluation was to curb inflation and tighten control over society before an eventual power transfer from leader Kim Jong-Il to his son Jong-Un.

"Prices have gone up too high since the economic reform measures taken on July 1, 2002," a source told Chosun. "The North Korean currency has been devalued too much, apparently causing the currency change."

http://wpcontent.answers.com/wikipedia/en/thumb/7/76/1000_North_Korean_Won.jpg/252px-1000_North_Korean_Won.jpg

Bank of Japan to hold special meeting; yen drops

December 1, 2009

Bank of Japan to hold special meeting; yen drops

LOS ANGELES (MarketWatch) -- The Bank of Japan said Tuesday it would hold an unscheduled extraordinary policy meeting to "discuss monetary control matters based on recent economic and financial developments."

The meeting was slated to begin at 2 p.m. local time,(12:20 a.m. est.) with Gov. Masaaki Shirakawa reportedly set to brief the media later in the afternoon. The surprise move comes amid concern over deflation and the continuing rise in the Japanese yen. The yen fell immediately following the news, with the U.S. dollar breaking above the 87 yen level after trading at 86.31 yen late Monday in North American trade.

http://www.marketwatch.com/story/bank-of-japan-to-hold-special-meeting-yen-drops-2009-11-30?siteid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A%20marketwatch%2Fmarketpulse%20(MarketWatch.com%20-%20MarketPulse

and another article ...

December 1, 2009

Japan finance minister urges bank to help recovery

The headquarters of the Bank of Japan in Tokyo. Japan's Finance Minister Hirohisa Fujii has called on the central bank to help revive the world's number two economy, which has been hit by deflation and a surging yen. AFP - Japan's Finance Minister Hirohisa Fujii on Tuesday called on the central bank to help revive the world's number two economy, which has been hit by deflation and a surging yen.

He called on the Bank of Japan (BoJ), which has already slashed interest rates to a rock-bottom 0.1 percent in a bid to free up credit, to continue with 'quantitative easing' monetary policy steps.

"There is a range of ways to do quantitative easing," said Finance Minister Hirohisa Fujii, without giving further details, Kyodo News reported.

The BoJ later announced it would hold an extraordinary meeting on monetary policy at 0500 GMT, to be followed by a statement and a press conference by BoJ Governor Masaaki Shirakawa.

Central banks usually stimulate sagging economies by lowering interest rates, which frees up credit for investment.

But when rates are at or near zero, they can use quantitative easing -- typically buying bonds and other assets from banks -- to pump capital into the financial system.

The central bank said in October it would halt some of its emergency measures at the end of the year despite pressure from the government not to withdraw its stimulus steps too soon.

Fujii also said the central bank must "cooperate with the government while making its decision independently."

Prime Minister Yukio Hatoyama is due to meet Shirakawa this week, reports say.

Japan is emerging from its worst post-war recession, in part due to stimulus measures and as exports have picked up, but falling consumer prices have threatened to throw the country into a deflationary cycle.

The yen's rise to a 14-year high against the dollar has piled pressure on Japanese companies because it makes their exports less competitive, heightening fears of a double-dip recession in Asia's biggest economy.


http://www.france24.com/en/node/4937291

How Would the House of Dimon Fare Without Him?

November 29, 2009

How Would the House of Dimon Fare Without Him?

Last year, Steve Jobs got sick. Jobs, the Founder and CEO of Apple (NASD: APPL) is a known, respected leader. As soon as word of his illness spread, Apple stock promptly plummeted as investors doubted anyone could manage the firm the way that he has.

Now, that same speculation is being made with JPMorgan Chase (NYSE: JPM). Jamie Dimon, CEO of JPMorgan Chase saw his personal stock skyrocket in the past year, as his profile rose in light of his firm’s success amidst the financial crisis. In the past year alone, Dimon has been called “The government’s banker of choice”, “Wall Street’s sole remaining hero”, and perhaps most complimentary: “America’s most important banker.”

Although this is something to be proud of, this is also cause for great concern – the bank’s fortunes are now very much tied to his own. As he remains at the helm, it is almost certain that the firm will enjoy favorable consideration, and special respect. But, rumors have recently surfaced that Dimon may depart the firm.

No, he would not be leaving for another venerable firm; instead, calls are being made for the ouster of Tim Geithner as Treasury Secretary, and the installation of Dimon.

Bill Winters, J.P. Morgan’s former co-head of investment banking, once said the bank’s shares would fall 20% if Dimon left. As the rumors heat up, the firm has begun succession planning. Two months ago, Dimon placed Jes Staley in charge of the investment bank, thereby positioning him as the front-runner for the CEO job. Staley, to his credit, has 20 years at J.P. Morgan’s investment banking group and experience running the asset management business as well.

Dimon is also seeking to develop and retain a deep management bench at the top, across it’s line of business. In doing so, he has proven that any firm the size of J.P. Morgan is too large for any one man to run on his own. Many of these executives are his former comrades at Citigroup, where he grew up in business working so closely with Sandy Weill.

Dimon and his team did more than avoid the worst pitfalls of the financial crisis, they seized upon their rivals weakness to seize market share and strengthen its business lines. That means J.P. Morgan is a stronger company than it was just a few years ago, and looking forward to a very bright future.

The additions of Bear Stearns, Washington Mutual, and Cazenove during the past 18 months have strengthened the firm for the long term, and opening up even more business opportunities. Although Dimon may not be at the helm as these opportunities come to fruition, he will leave the firm in much strong shape then he inherited, whenever that may be.

~related article ~

THE GRAND ILLUSION - Profiles: Timothy Geithner - Jamie Dimon

http://www.americanbankingnews.com/2009/11/28/how-would-the-house-of-dimon-fare-without-him/

Now With Foothold in Iraq, Oil Companies Look to the Future ~ Auction in Baghdad on Dec. 11

"development rights to 10 other Iraqi oil fields will be offered to foreign companies at a public auction in Baghdad on Dec. 11"

November 30, 2009

Now With Foothold in Iraq, Oil Companies Look to the Future

BAGHDAD — More than six and a half years after the United States-led invasion here that many believed was about oil, the major oil companies are finally gaining access to Iraq’s petroleum reserves. But they are doing so at far less advantageous terms than they once envisioned.

The companies seem to have calculated that it is worth their while to accept deals with limited profit opportunities now, in order to cash in on more lucrative development deals in the future, oil industry analysts say.

“The attraction of these fields to oil companies is not the per-barrel profit, which is very low, but their value as an entrance ticket to the oil sector of southern Iraq,” said Reidar Visser, a research fellow at the Norwegian Institute of International Affairs who operates an Iraq Web site, Historiae. “In terms of size and potential, the Basra region remains one of the most attractive areas of future growth for the international oil industry.”

Iraq’s first stab at opening its oil industry to foreign investment ended in disappointment at an auction in June in which most companies declined to bid. But last month many of those same companies — including Exxon Mobil and Occidental Petroleum, the first American companies to reach production agreements with Baghdad since the 2003 invasion — signed deals at much the same terms they rejected over the summer.

Analysts say the deals on three of the country’s top fields show that Iraq, after an embarrassing start, may be on a path to joining the world’s major oil-producing nations, which could in turn upset the equilibrium in OPEC and increase tensions with the neighboring oil giants Iran and Saudi Arabia. Adding to those strains, development rights to 10 other Iraqi oil fields will be offered to foreign companies at a public auction in Baghdad on Dec. 11.

However, the auction and the contracts come at an awkward time: just months before national elections that could provoke renewed violence or sweep in a new government that could disown the deals.

In the recent deals, the major oil companies have agreed to accept service contracts, in which they earn a fee for each barrel of oil produced. Yet they vastly prefer production-sharing agreements, in which they gain an equity stake in the oil itself. Such deals are far more lucrative to oil companies, but for Iraqis they are reminiscent of the colonial era, when foreign companies controlled the country’s oil wealth.

“We have shown that we can attract international companies to invest in Iraq and boost production through service contracts,” Hussain al-Shahristani, Iraq’s oil minister, said recently. “They will not have a share of Iraqi oil, and our country will have total control over production.”

But Iraq has also been forced to acknowledge that it cannot hope to revive its decrepit oil industry without the money and the technical expertise of the major companies. Despite strong anti-American sentiments among the Iraqi public, few officials want to refuse American cash.

“We do not have any preferences,” said Abdul Hadi al-Hassani, deputy chairman of Parliament’s Oil and Gas Committee. “We are interested only in the financial health of the company and in their technical know-how. American companies are well known in the oil sector.”

After months of secret negotiations between the Oil Ministry and the companies, two new deals and the completion of a third were announced in recent weeks. A consortium of Eni, an Italian oil company, Occidental and Korea Gas signed a preliminary agreement to develop the Zubayr field, which has an estimated 4.1 billion barrels of oil.

Shortly thereafter came the formal ratification of the only deal reached during the June auction, a partnership between British Petroleum and the China National Petroleum Company for Iraq’s Rumaila oil field, one of the largest in the world, with an estimated 17.8 billion barrels of oil.

Within days of that deal’s ratification, Exxon Mobil and Royal Dutch Shell signed an initial contract to develop West Qurna, Iraq’s most sought-after field in part because it is believed to have at least 8.6 billion barrels of oil.

The government said it expected production from the three fields alone to vault Iraq’s output to 7 million barrels a day from 2.5 million barrels a day within six years, which would move it from the world’s 13th largest producer to the fourth, according to Department of Energy statistics.

“Iraq is now on its way,” Mr. Shahristani said after the announcements.

Oil industry analysts said that there appeared to have been little change from the contracts offered in June. But the major oil companies appeared to have rethought their positions and decided that despite what they considered paltry returns, they could not afford to be left out of Iraq’s riches. A foot in the door now, they reasoned, might lead to better contracts.

“The recent award of Zubayr and West Qurna serves to illustrate a wider acceptance that, in order to secure these strategically important developments, compromise is required,” Colin Lothian, a research analyst for Wood Mackenzie, an energy industry adviser, said via e-mail.

In the West Qurna field, for example, the Exxon Mobil-Shell partnership agreed to accept $1.90 for each barrel of oil it produced above the field’s current production level, precisely what the government demanded in June and less than half the $4 a barrel the oil giants wanted.

“It’s fair to say that there are many people negotiating now who would not have taken $2 before,” said Shell’s chief financial officer, Simon Henry, during a conference call with reporters on Oct. 29, days before the preliminary agreement was announced.

However, while the companies have pledged to invest billions in Iraq, few here believe much of that will actually be spent until the country successfully concludes national elections and attains a period of relative peace.

Iraq has the third largest proven reserves of oil in the world, with about 115 billion barrels, but it does not rank in the top 10 producers. If and when its oil production rises toward seven million barrels a day or more, Iraq might find itself in conflict with OPEC, which maintains production quotas for its members. Iraq has been exempt from the quotas since sanctions were imposed in 1990, Iraqi officials said.

Iraqi officials say there is no justification for imposing a quota on their production, saying they have been underproducing for years, allowing others to enjoy higher quotas.

“The production from these three fields will surely threaten other oil-producing countries and will show the world that Iraq can match Saudi Arabia’s production,” said Mr. Hassani. “Our share has been taken by other countries, and we will gain our share again from the countries that took it.”

http://www.nytimes.com/2009/12/01/world/middleeast/01iraqoil.html

Carlyle Sued by Kuwaiti Group Over Fund

Carlyle sued by Kuwaiti group over fund

November 30 2009

A prominent Kuwaiti conglomerate is suing the Carlyle Group in a local court, alleging that the US private equity firm misrepresented the safety of its affiliate, Carlyle Capital Corp, a public debt fund that collapsed in March 2008.

The conglomerate, National Industries Group, invested $50m in CCC, which was marketed to many investors in other Carlyle funds as a safe fund that would invest largely in triple A mortgage-backed securities.

CCC raised about $600m from investors privately and an additional $340m when it listed.

CCC became one of the first casualties of the financial crisis, because of its high leverage, which made it highly sensitive to small moves in prices. Its investors lost all their money.

The episode has raised questions about how well private equity firms perform diversifying into asset management.

Carlyle and NIG declined to comment.

The implosion of CCC has damaged Carlyle’s reputation in the Middle East, where the affiliate raised most of its funding, according to people familiar with the matter. It is a personal setback for Carlyle’s co-founder and chief fundraiser, David Rubenstein, a frequent visitor to the Gulf.

“Arab money made Carlyle what it is,” said the head of the investment bank of one major financial institution in Dubai.

NIG’s decision came several months after a stormy meeting in Kuwait involving Mr Rubenstein and Saad Al Saad, the head of NIG and the patriarch of one of Kuwait’s wealthiest families.

The meeting was abruptly terminated after a young Carlyle staffer told the NIG executives to lower their voices, according to people familiar with the matter.

Mr Rubenstein had asked for the meeting in order to apologise formally for the loss.

Mr Rubenstein and his team told NIG that while Carlyle could not compensate NIG for the loss, they would allow NIG to invest $100m in any Carlyle fund without paying any of the customary management and performance fees. This was not acceptable to NIG.

NIG was also angry that the meeting was attended by the general manager of a fund that Carlyle was in the process of launching – the Hong Kong-based Asian Growth Fund.

~ more carlyle ...

CARLYLE GROUP - HEALTHCARE PORTFOLIO

All in the family ...

Obama to Sign 2010 Defense Spending Bill Wednesday and how about a trip down Memory Lane? ...

EU welcomes Czech president's Lisbon signature"The treaty enters into force DECEMBER 1st and all the details must now be put into place...

bumped ~

November 3, 2009

EU welcomes Czech president's Lisbon signature

Klaus admitted that he had reluctantly signed ...

Czech President Vaclav Klaus has finally given up his resistance to the Lisbon Treaty and opened the way for reform of the European Union.

The head of the European Commission, Jose Manuel Barroso, has welcomed the signing by the Czech president, Vaclav Klaus, of the EU's Lisbon Treaty. He said it removed "the last hurdle."

Klaus announced that he had signed the Lisbon Treaty just a few hours after a ruling by the Czech constitutional court on Tuesday that the treaty did not break Czech law. He criticized the court's decision, saying that "the constitutional court's ruling is not a neutral legal analysis but a biased political defense of the Lisbon Treaty on the part of its supporters."

But he said he had expected the verdict and would respect it.

The treaty allows the EU to speed up decision making, increase the power of the European Parliament and appoint a longer-term president and a more powerful foreign representative.

Speedy decisions to be taken

The Swedish prime minister, Fredrik Reinfeldt, whose country currently holds the rotating EU presidency, said he would call a summit shortly and begin "name consultations" over the two new posts.

"The treaty enters into force on 1 December and all the details must now be put into place," he said.

The German chancellor, Angela Merkel, has also welcomed the development; she noted during a speech to the US Congress in Washington that, with the new treaty, the EU "will become stronger and more capable of acting, and so a strong and reliable partner for the United States."

Klaus was the last EU leader to sign, having insisted on waiting for the decision of the constitutional court as well as for a commitment from an EU summit that Germans and Hungarians would not be able to claim compensation for loss of property after the Second World War.

related article link ..

Czech President Klaus to Go ahead with Lisbon Treaty Ratification - November 3, 2009

N. Korea revalues currency for first time in 17 yrs: sources

2009/12/01

N. Korea revalues currency for first time in 17 yrs: sources

SHENYANG, China, Dec. 1 (Yonhap) -- North Korea has sharply raised the value of its currency, its first such move in 17 years, apparently aimed at tackling inflation and clamping down on black market trading, sources here said Tuesday.

North Korean sources who engage in trade with China told Yonhap News Agency that the North Korean government implemented the currency reform as of 11 a.m. Monday and the exchange for the new currency began at 2 p.m.

The exchange rate for new currency is 100 to 1, in which the old denomination of 1,000 won is replaced by the new 10 won, the sources said, speaking on strict condition of anonymity. The drastic revaluation disturbed the local market, they said.

"Many citizens in Pyongyang were taken aback and in confusion. Those who were worried about their hidden assets rushed to the black market to exchange them with yuan or U.S. dollars. The yuan and the dollar jumped," one of the sources said.

The revaluation was the first for North Korea since 1992. Since its government was founded in 1947, North Korea has also undertaken 1 to 1 currency exchanges four times.

The latest move appeared to be mostly aimed at tackling inflation as the local currency value has nosedived since the country took economic reforms in 2002 to make payments and prices more realistic and introduce market freedom. North Korea also may have sought to draw out money hidden in the underground economy, some stashed by citizens working abroad.

North Korea is also in a nationwide campaign to rebuild its economy by 2012, the birth centennial of its founder, Kim Il-sung.

South Korean officials were cautious about the report, as North Korea has yet to make an official announcement as it did in 1992.

"We cannot confirm the report," an official at the Unification Ministry said.

http://english.yonhapnews.co.kr/northkorea/2009/12/01/39/0401000000AEN20091201000300315F.HTML

Trade ministers disagree on WTO Doha talks

December 1, 2009

Trade ministers disagree on WTO Doha talks

AFP - Ministers meeting at a key WTO conference made renewed pledges to conclude long-running negotiations for a global trade pact, but also remained locked in differences on where concessions should come from.

The United States called Monday on developing countries to make "meaningful market opening" but Brazil said it was "unreasonable" to expect developing countries to be the only ones making further concessions in order to secure the Doha round of global trade talks.

Meanwhile, World Trade Organization (WTO) chief Pascal Lamy warned ministers gathered at a key meeting in Geneva until Wednesday that time was running out to secure the pact.

"Time is running out, and it is not credible at this stage to see issues in isolation from the work and the achievements of the past eight years," Lamy said in opening remarks Monday to ministers and high-level officials from 153 member states attending the WTO meeting.

World leaders have pledged to conclude the Doha Round of global trade negotiations by 2010, but little progress has been made.

Since the start of Doha talks in 2001, deadlines have been repeatedly missed amid differences between developed and developing economies over the level of cuts to agriculture subsidies and industrial product tariffs.

US Trade Representative Ron Kirk signaled that his country was prepared to enter the final stage of negotiations if developing nations hastened moves to open their rapidly growing markets.

"For our part, the United States negotiating team is ready to move into the endgame," he said.

Citing figures from the International Monetary Fund, Kirk said 58 percent of global economic growth between now and 2014 will be provided by China, India, Brazil, Argentina, South Africa and Southeast Asian countries.

"The creation of new trade flows and meaningful market opening, particularly in key emerging markets, is required to fulfill the development promise of Doha," he said.

However, Brazil's Foreign Minister Celso Amorim handed the ball back to the United States and other developed countries, saying: "It is unreasonable to expect that concluding the Round would involve additional unilateral concessions from developing countries."

Meanwhile Indian Commerce Minister Anand Sharma also stressed the "development" aspect of the Doha Round.

m,He pointed out that key sticking points such as cotton -- which is being held up by disagreements over US subsidies -- needed to be dealt with "sympathetically."

Meanwhile, China, whose rapid growth has helped the world emerge from the worst recession in decades, cautioned that the Doha talks needed to be hauled back from stalemate to help nations prosper from trade.

"Looking back at the 60 years of the multilateral trading system, we see that free trade has always been navigating through choppy waters," said Chinese Commerce Minister Chen Deming.

He warned that results derived from the Doha talks so far must not be withdrawn.

"What is on the table is hard won and cannot be overturned for any excuse," he said.

http://www.france24.com/en/node/4937273

Wen Labels Renminbi Pressure ‘Unfair’

Wen labels renminbi pressure ‘unfair’

November 30 2009

Wen Jiabao, premier of China, lashed out on Monday at demands for Beijing to allow its currency to appreciate, and suggested foreign pressure for a strong currency could be aimed at reining in the country’s economic development

Speaking at the conclusion of an EU-China summit in Nanjing, Mr Wen said: “Some countries on the one hand want the renminbi to appreciate, but on the other hand engage in brazen trade protectionism against China. This is unfair. Their measures are a restriction on China’s development.”

He gave no hint that currency policy would change, repeating the standard form of words Beijing uses to describe its management of the renminbi.

“We will maintain the stability of the renminbi at a reasonable and balanced level ... Maintaining the basic stability of the renminbi exchange rate has benefited China’s economic development and benefited world economic recovery.”

The renminbi has been repegged to the US dollar since mid-2008, putting on ice the Chinese currency’s tightly managed rise during the previous three years against the dollar.

By being repegged through a period of dollar weakness, the Chinese currency has depreciated sharply against the euro, the yen and other major currencies in the past six months.

The European delegation did not mention the renminbi after Monday’s talks, and abruptly cancelled a press briefing in which it would have faced uncomfortable questions about Mr Wen’s aggressive tone.

European officials, speaking on Sunday after senior eurozone figures had met Mr Wen and other Chinese policymakers, made clear they had made little progress on the currency issue with Beijing.

Though he showed no inclination to yield to European pressure on the renminbi, Mr Wen said China was “solemn and serious” in its vow to cut the amount of carbon dioxide emitted per unit of economic output 40-45 per cent by 2020 compared with levels in 2005.

But developed countries must lead the way in climate change talks next week in Copenhagen, and provide finance and technology to developing countries such as China, to tackle global warming, he said.

“We welcome and appreciate that China has presented quantified national targets. This is an important step towards an agreement in Copenhagen,” said Fredrik Reinfeldt, prime minister of Sweden, which holds the rotating EU presidency. But this and other climate change offers were insufficient.

“The global efforts put on the table for mitigation are not enough ... More needs to be done,” he said.

Officials said the Commission would ask EU ministers in December to extend dumping duties on shoes from China and Vietnam, a plan rejected by an EU trade panel last month.

AFP

Iraq participates on the World Trade Organization meeting aspiring full membership ~ and ~ WTO

30/11/2009

Iraq participates on the World Trade Organization meeting aspiring full membership

Participate Iraq tomorrow (Monday) at the Ministerial Conference of WTO held in Geneva, seeking to run for a third round of talks with the organization for full membership, according to a media source in the Ministry of Commerce.

Faraj al-Jaafari today (Sunday) that a delegation of the Supreme National Committee, headed by the Minister of Commerce "will take part in the Ministerial Conference of WTO held in Geneva tomorrow (Monday) over the three days," noting that "the delegation will be headed by the Minister of Trade and agency Safa al-Din net and membership of representatives from the ministries concerned.

Jaafari said that "the delegation will discuss the possibility of Iraq's accession to the organization and to obtain full membership instead of the capacity of observer that it is now," indicating that Iraq is "a contract by two rounds of talks with the International Secretariat of the Organization Aljennif and this is the third time that confers the for membership Organization. "

According to Jaafari, the Iraqi delegation "will present a working paper on the various sectors", noting that the full membership "needs time and convinced the members of the World Trade Organization by granting full membership," adding that Iraq "before in February 2004 as an observer of the organization."

The holding of this Ministerial Conference, the seventh after four years of the last OSCE conference in Hong Kong in 2005.

Participants in the conference and trade ministers from 153 member States of the World Trade Organization as well as ministers of the developments on the observer status, which aspires to join the organization and representatives of numerous bodies and relevant international organizations like the World Bank and International Monetary Fund and the United Nations Conference on Trade and Development (UNCTAD) and the Islamic Development Bank and the Fund Arab Monetary Organization and the Food and Agriculture Organization (FAO) and other governmental and non-governmental organizations.

The WTO was established in 1995 and is one of the smallest international organizations, as are younger Khalifa General Agreement on Tariffs and Trade (GATT) which was established in the wake of World War II.

and last meeting for Iraq and WTO ~

WTO: 2008 NEWS ITEMS

2 April 2008

ACCESSIONS (IRAQ)

2nd Working Party meeting on Iraq's accession

Working Party reviews Iraq’s trade legislation

Working Party members, on 2 April 2008, supported Iraq’s rapid accession to the WTO and argued it would contribute to the country’s integration into the world economy. Iraq’s Trade Minister, H. E. Dr. Al-Sudani, stated that Iraq was determined to overcome the country’s difficult circumstances to move forward on the accession process and added that Iraq’s membership would represent a significant addition to the international community.

Review of trade legislation

At this stage of the accession, members examine all aspects of Iraq's trade and economic policies to assess their conformity with WTO principles.

Since the 1st Working Party meeting held in May 2007, Iraq has provided members with a legislative action plan which shows the state of play of the ongoing legal reforms. Iraq also provided information on its sanitary and phytosanitary (SPS) measures, technical barriers to trade (TBT) and the trade-related aspects of intellectual property rights (TRIPS) as well as information on its domestic support and export subsidies in agriculture.

Members requested more information on Iraq's pricing policy, investment rules, import licences, customs law, state trading enterprises, regulations on tariffs, free zones and telecom licences.

Bilateral negotiations

Iraq has met with several members on the margins of the Working Party. Market access negotiations will start once Iraq tables its initial offers on goods and services. There have been some discussions but no concrete proposals for the moment.

Technical assistance

Members and international organizations have been providing technical assistance to Iraq. The Chair of the Working Party, Claudia Uribe, Ambassador for Colombia, has urged members to continue and step up this support.

Next steps

Iraq will update its legislative action plan, as appropriate, and will continue providing information to members.

Next meeting . No date was decided.


WTO.org

*also in attendance = United Nations Conference on Trade and Development (UNCTAD)

Links ~

Postponement of High-Level Financing for Development Dialogue

Central Bank of Iraq's Governor, Sinan Shabibi and the United Nations ...UN Meeting Nov. 23-24 ...

Iraqi Prime Minister Nuri Al Maliki affirmed that resolving election law row is imminent

Al Maliki: Iraq election law way out coming up

Monday, November 30, 2009 07:46 GMT

Iraqi Prime Minister Nuri Al Maliki affirmed that resolving election law row is imminent.

Iraqi Vice President Tarek Al Hashemi’s veto of the law is a constitutional breach, Al Maliki said.

In a visit to Karbala City aimed at inaugurating a number of services projects, Al Maliki called upon Iraqis to take part in elections.

Al Maliki denied on the other hand any attempts by the government to reconcile with “Baathists and sectarians” accusing some political parties of bidding to reengage Baathists in power through national reconciliation, he noted.

http://www.alsumaria.tv/en/Iraq-News/1-41076-Al-Maliki%3A-Iraq-election-law-way-out-coming-up.html

Iraq resumes full crude oil exports via Turkey-NOC

Iraq resumes full crude oil exports via Turkey-NOC

Tuesday December 01, 2009

IRAQ-OIL/EXPORTS

KIRKUK, Iraq, Nov 30 - Iraq resumed full crude oil exports through its northern pipeline to Turkey on Monday after reported sabotage of the link halted flows last week, an official at the state-run North Oil Company said.

In the Turkish port of Ceyhan, meanwhile, one ship was now loading at the pipeline's terminus and three others were waiting, said a Turkish shipping agent who declined to be identified.

The rate was 28,000 barrels per hour at 0800 GMT, he said.

Two shipping sources confirmed flows had resumed, although one source said the line began operating again on Sunday.

The pipeline, from the northern city of Kirkuk to the Mediterranean port near Ceyhan in Turkey, had resumed pumping at limited levels on Friday after flows were completely halted on Nov. 24, an engineer at Iraq's North Oil Company told reporters on condition his name was not used.

A separate, technical fault early on Sunday forced the pipeline to close again for about 24 hours, he said.

"Exports started again early today with the technical issue now fixed," the Iraqi engineer also said, adding volume was at about 640,000 barrels of oil per day (bpd).

It was the second closure on the Kirkuk-Ceyhan pipeline, which transports an average 500,000 bpd, in a month.

Iraqi officials have blamed the recent closures on attacks by insurgents.

The pipeline, which carries a quarter of all Iraqi exports, previously closed due to apparent sabotage on Oct. 28.

"Flows have been intermittent since they were cut last week," the source said. "Oil began flowing three days ago but had stopped again. The levels of pumping are often unclear."

Iraqi oil in storage at Ceyhan stood at about 3 million barrels, the source said.

UNITED NATIONS AND WTO

UNITED NATIONS
THE SECRETARY-GENERAL MESSAGE TO SEVENTH SESSION
OF THE MINISTERIAL CONFERENCE
OF THE WORLD TRADE ORGANIZATION

Geneva, 30 November 2009

Delivered by Mr. Supachai Panitchpakdi, Secretary-General, UN Conference on Trade and Development

It is a pleasure to greet the Ministers and others attending this important conference.

Over the past year, policy makers have made great efforts to mitigate the damage being inflicted by the global economic and financial crisis. Those efforts have reduced the threat of another Great Depression. The resilience of some emerging economies, particularly Brazil, China and India, has been particularly encouraging.

However, we are all aware of the toll that multiple global crises are having, especially on the most vulnerable communities. The number of unemployed in 2009 could reach 59 million, 70 per cent of them in developing countries. One billion people lack access to food. Global trade could fall by 11 per cent this year. Progress towards the Millennium Development Goals by 2015 could be compromised.

We must do better at managing the global economic system, and at ensuring open and stable markets and widely shared gains for all. That means we must carefully consider the recommendations of the UN Conference on the World Financial and Economic Crisis and Its Impact on Development, held last June.

It means ambitious and concrete measures to combat climate change at the UN Conference in Copenhagen next week. And it means a strong and sustainable recovery that creates decent jobs.

Trade has a key role to play. Expanding international trade remains a key component of the development agenda of the United Nations. I urge this ministerial conference to reaffirm its commitment to the open multilateral trading system, and to the WTO as the forum for strengthening that system.

It is deeply troubling that, in response to the crisis, a number of countries have resorted to protectionist measures. Such actions disproportionately harm the development efforts of poorer countries, risk embedding a corrosive culture of protectionism, and, as history shows, likely to shrink global trade and injure all stakeholders. Such protectionist pressures need to be resisted, whichever lens they are viewed through: local, national or global. In the same vein, all forms of trade-distorting subsidies need to be eliminated as soon as possible.

Over the years, the WTO has been invaluable in advancing freer trade among nations. But there is room for improvement, in particular to make it more inclusive in responding to the needs of the weak and vulnerable countries. This requires a revival in trade and financial flows. But above all we need a speedy conclusion to the Doha Round, with strong and meaningful developmental content for developing countries, in particular the least developed. This is critical. So is aid for trade, a promising initiative that must complement any trade deal.

I look forward to working with you to achieve an open, equitable, rule-based, predictable and non-discriminatory multilateral trading and financial system that delivers tangible development gains to developing countries. In that spirit of partnership, I offer my best wishes for a successful conference.

Lamy urges unity in efforts to conclude Doha Round next year

WTO: 2009 30 November 2009

SEVENTH WTO MINISTERIAL CONFERENCE

Lamy urges unity in efforts to conclude Doha Round next year

Director-General Pascal Lamy, in opening the Seventh WTO Ministerial Conference on 30 November 2009 in Geneva, urged members to follow the proverb “unity is strength”, and expressed the hope that “we come out of the next few days stronger, more united and with clear determination to conclude the Round in 2010.”

Chairman Velasco,
Ministers,
Dr Supachai, Mr Gurry, Mrs Francis
Excellencies,
Ladies and Gentlemen,

The year 2009 will go down in history as a moment of great global insecurity. Millions of citizens lost their jobs. Many more lost their savings. Many of the development gains of the last decades vanished.

But at the same time we saw nations coming together as never before. The world united to find a response to the global economic crisis.

The multilateral trading system has also been tested as never before. It has stood firm and showed its value.

Though trade has contracted, the WTO's rules and commitments have ensured that there was no general rush to protectionist measures. As long as members continue to follow responsible policies at home, the WTO system should continue to provide a global insurance policy against protectionism.

The WTO system can also be an important plank in the platform for recovery. Getting trade moving again and keeping trading opportunities open is vital to the progress of all our members, especially the poorest. This is why we have worked hard with other stakeholders on trade finance to counter shortfalls in liquidity which imperil the trade of developing countries.

The value of the WTO dispute settlement system has also been highlighted by the crisis. The ability to resolve trade disputes peacefully, without resorting to uncontrolled retaliation, is a huge asset that our forebears lacked in previous economic crises.

The WTO is you, the 153 members. You have subscribed to the principles of advancing and defending open trade within a non-discriminatory and transparent framework. At Doha, you also agreed to put development at the heart of the multilateral trading system.

You are united in the belief that trade can contribute to sustainable development in the widest sense. That it can generate growth. That it can help provide decent jobs. That trade can be a powerful tool for developing countries to fight poverty.

But trade in itself is not a magic potion. For trade to work, it has to be rooted in a bedrock of domestic policies that enable its potential gains to be realized. The commitments we negotiate here need to complement and support these domestic policies. Now, more than ever, it is time to reinforce the message that open trade is not a zero-sum game.

And the WTO is more than a forum for agreeing on market opening and rules. It is also about ensuring that our existing rules and agreements work properly. It is about settling our disputes peacefully. It is about furthering coherence with other policy priorities, starting with climate change. It is about making the case for more open trade. It is about capacity building.

These are all part of the insurance policy to which you have collectively subscribed in the WTO. And while the crisis has proved the value of this policy, it has also shown that it needs to be adjusted to changing risks. You will be sharing views on this issue over the next days and providing guidance for our work.

The single largest adjustment we need to make is to conclude the Doha Round successfully and soon. This is not just about its economic benefits, it is also about our collective ability and determination to preserve and strengthen the global public good, which is the multilateral trading system.

There is more than eight years' work on the negotiating table. This is already a major storehouse of assets. It contains trade-offs that you have all fought hard for, compromises you have crafted, interests you have protected. Of course, the final balance needs to be found, and there is still hard negotiating ahead. Time is running out, and it is not credible at this stage to see issues in isolation from the work and the achievements of the past eight years.

The moment of truth is fast approaching when you will have to decide whether the 2010 target can be met. Political leaders are practically unanimous that they want to meet it, but reaffirmation is not enough. Now we need action, concrete and practical action, to close the remaining gaps.

The Round occupies centre stage in our minds, as it should; but other necessary updates to our collective WTO insurance policy must not be overlooked. We need to improve the ways in which we maintain our existing agreements. We also need to do more to help improve the trade capacity of developing and least-developed countries.

Updating our collective WTO insurance policy includes extending its coverage. This means giving more attention to enlarging the WTO family through accessions, attention both from members and from those working to become members. There may be no short cuts, but we should all work to see accessions move steadily and positively.

Mr Chairman, ladies and gentlemen,

A Chinese proverb says “Zhong Zhi Cheng Cheng”: Unity is Strength. My sincere hope is that we follow these words of wisdom. That we come out of the next few days stronger, more united and with a clear determination to conclude the Round in 2010.

Good luck and thank you for your attention.

Links to all of November 2009 Meetings and Events ...

NOVEMBER 8-10 WORLD ECONOMIC FORUM - NEW DELHI

Wednesday - APEC Finance Ministers Meet to Discuss Fiscal Policy, Growth Restoration

NOVEMBER 11, 2009 DECLARED VETERANS DAY

Islamic leaders meet to boost economic, trade cooperation Monday Nov. 9th

November 9-11-2009 LPGTRADE Summit, Doha, Qatar

Nov. 12-13 - EU Iraq Negotiations for a Partnership and Cooperation Agreement enter final stage

GCC FOREIGN MINISTERS MEETING POSTPONED UNTIL AFTER EID (NOV.27)

~ GCC Meeting in Kuwait on Nov. 17 - UAE May Return

November 17-20 EUROPE'S "SUPER INVESTOR 2009"

Saturday, Nov. 21st - Conference to Discuss ways to Develop the Economic Reality of Iraq in Baghdad ~ and result ~ Announce the establishment of a popular movement calling for an economic programs for the distribution of financial resources of the State to the peop ...

NOVEMBER 22-24, 2009 12TH INDUSTRIALISTS' CONFERENCE

GCC Foreign Ministers Discuss Qatari Vision - (next meeting Dec. 8th and final review before Summit Dec. 13th)

Next Wednesday The meeting of the Iraqi-Kuwaiti Joint To discuss the issue of border oil fields

Wednesday Nov. 25th - Trade Bank of Iraq Press Briefing and Photo Call

Friday Nov. 27th-29th ~

Today - The Commonwealth Heads of Government Meeting known as CHOGM opens Friday,

November 27 in the Trinidad and Tobago capital of Port of Spain(CHOGM)

Nov. 25th - Nov. 28th Hajj (Pilgrimage to Mecca) and Celebration of Eid

The 12 th EU-China Summit in Nanjing on 30 November 2009

EU welcomes Czech president's Lisbon signature"The treaty enters into force DECEMBER 1st

November 30 - December 2 - WTO IN GENEVA

Iraq participates on the World Trade Organization meeting Nov. 30 - Dec. 2 aspiring full membership

Iraq participates on the World Trade Organization meeting Nov. 30 - Dec. 2 aspiring full membership

Iraq participates on the World Trade Organization meeting aspiring full membership

Iraq on Monday participating in the Ministerial Conference of WTO held in Geneva, seeking to run for a third round of talks with the organization for full membership.

A media source in the Ministry of Commerce, said a delegation of the Supreme National Committee, headed by the Minister of Trade and purity of net debt agency will participate in the Ministerial Conference of WTO held in Geneva tomorrow (Monday) over the three days.

He added that the delegation will discuss the possibility of Iraq's accession to the organization and to obtain full membership instead of the capacity of observer that it is now, noting that Iraq held by the two rounds of talks with the International Secretariat of the Organization in Geneva and that this is the third time in which to confer gain membership.

He reported that the Iraqi delegation will present a working paper on the various sectors, noting that the full membership requires time and convinced the members of the World Trade Organization by granting full membership, adding that Iraq has accepted in February 2004 as an observer in the Organization.

related article ~

Iraq seeks full WTO membership during conf. Monday

It's Time for a 'Tobin Tax' on Financial Transactions

November 30, 2009

It's time for a 'Tobin tax' on financial transactions

It’s time to put some sand in finance’s wheels. Should we use taxes to deter financial speculation? Yes, say top British officials, who oversee the City of London, one of the world’s two great banking centres. Other European governments agree — and they’re right.

Unfortunately, US officials — especially US treasury secretary Timothy Geithner — are dead set against the proposal. Let’s hope they reconsider: a financial transactions tax is an idea whose time has come.

The dispute began back in August, when Adair Turner, Britain’s top financial regulator, called for a tax on financial transactions as a way to discourage “socially useless” activities. Gordon Brown, the British prime minister, picked up on his proposal, which he presented at the Group of 20 meeting of leading economies this month.

Why is this a good idea? The Turner-Brown proposal is a modern version of an idea originally floated in 1972 by the late James Tobin, the Nobel-winning Yale economist. Tobin argued that currency speculation — money moving internationally to bet on fluctuations in exchange rates — was having a disruptive effect on the world economy. To reduce these disruptions, he called for a small tax on every exchange of currencies.

Such a tax would be a trivial expense for people engaged in foreign trade or long-term investment; but it would be a major disincentive for people trying to make a fast buck (or euro, or yen) by outguessing the markets over the course of a few days or weeks. It would, as Tobin said, “throw some sand in the well-greased wheels” of speculation.

Tobin’s idea went nowhere at the time. Later, much to his dismay, it became a favourite hobbyhorse of the anti-globalisation left. But the Turner-Brown proposal, which would apply a “Tobin tax” to all financial transactions — not just those involving foreign currency — is very much in Tobin’s spirit.

It would be a trivial expense for long-term investors, but it would deter much of the churning that now takes place in our hyperactive financial markets.

This would be a bad thing if financial hyperactivity were productive. But after the debacle of the past two years, there’s broad agreement — I’m tempted to say, agreement on the part of almost everyone not on the financial industry’s payroll — with Turner’s assertion that a lot of what Wall Street and the City do is “socially useless”

And a transactions tax could generate substantial revenue, helping alleviate fears about government deficits. What’s not to like? The main argument made by opponents of a financial transactions tax is that it would be unworkable, because traders would find ways to avoid it. Some also argue that it wouldn’t do anything to deter the socially damaging behaviour that caused our current crisis. But neither claim stands up to scrutiny.

On the claim that financial transactions can’t be taxed: modern trading is a highly centralised affair. Take, for example, Tobin’s original proposal to tax foreign exchange trades. How can you do this, when currency traders are located all over the world? The answer is, while traders are all over the place, a majority of their transactions are settled — ie, payment is made — at a single London-based institution. This centralisation keeps the cost of transactions low, which is what makes the huge volume of wheeling and dealing possible. It also, however, makes these transactions relatively easy to identify and tax.

What about the claim that a financial transactions tax doesn’t address the real problem? It’s true that a transactions tax wouldn’t have stopped lenders from making bad loans, or gullible investors from buying toxic waste backed by those loans.

But bad investments aren’t the whole story of the crisis. What turned those bad investments into catastrophe was the financial system’s excessive reliance on short-term money.

As Gary Gorton and Andrew Metrick of Yale have shown, by 2007 the US banking system had become crucially dependent on “repo” transactions, in which financial institutions sell assets to investors while promising to buy them back after a short period — often a single day. Losses in subprime and other assets triggered a banking crisis because they undermined this system — there was a “run on repo”.

And a financial transactions tax, by discouraging reliance on ultra-short-run financing, would have made such a run much less likely. So contrary to what the sceptics say, such a tax would have helped prevent the current crisis — and could help us avoid a future replay.

Would a Tobin tax solve all our problems? Of course not. But it could be part of the process of shrinking our bloated financial sector. On this, as on other issues, the Obama administration needs to free its mind from Wall Street’s thrall.

Tobin Tax related article and links ~

TAX - Have you wondered why there are so many commercials and advertisements for the FOREX?

LINKS TO ARTICLES - TOBIN TAX - FINANCE TAX

http://economictimes.indiatimes.com/News/International-Business/Its-time-for-a-Tobin-tax-on-fin-transactions/articleshow/5282972.cms?curpg=2

Cosmic Path ~ December 2009

Nov 30th, 2009 - Dec 6th, 2009

When you’re nose to the grindstone in an arduous project, doesn’t your morale improve when you get a reminder now and then of the point to all your effort?

The reminders are like cosmic carrots that refresh and restore you, and also entice you to keep going, especially when they’re dangled just a bit ahead.

It also helps that they can make you feel good, too.

When you’ve been in an intense and prolonged process, even the slightest let-up in pressure can make you giddy with relief.

And that is the type of respite that the skies are giving us at last.

This week brings reminders that this world is a good and glorious place and allows us some breathing room to enjoy it.

*Get ready for life to feel lighter, brighter and easier, for a change.

Two big reasons for this shift in atmosphere occur on Tuesday. Uranus completes his four-month retrograde and stations direct that day.

Movement, progress and insights are on the way, and how.

The simplest statement of this influence is that matters that
have been brewing since the beginning of July will resurface, spring into being or take new direction now. But the shift is more major than that.

With Uranus’ about-face, all of the members of the Aquarius/Pisces traveling party are direct now. All of the outer planets are direct now.

In fact, all of the planets, period, are direct now, and will remain so until Mercury goes retrograde on the 26th.

*This means that a three-week period lies before us with no cosmic impediments to progress, no delays and no reasons to be still, wait and dive deep within.

After six months of processing and processing and processing, we have a window for action, for movement, for things to finally start happening.

Sounds long overdue, doesn’t it?

It is in this window that Jupiter, Chiron and Neptune are coming together for their third conjunction (and third growth aspect to Uranus), which will cap a year of magic with another huge helping of the same.

These four planets have been moving us from one way of living to another. Can you remember how you made it through your days a year ago?

The memory is foggy, isn’t it? Here’s one segment of life to consider, to drive the point home:

Can you remember how you thought about the approaching holidays in November of last year?

Compare that to your current attitude.

Haven’t you traded anxiety, pressure, dread and decades of baggage and expectations for a more free-floating, what-will-be-will-be attitude (maybe even permission to do what you feel like, for a change)?

Jupiter, Chiron, Neptune and Uranus have given us new, broader and more enlightened perspectives on our wishes, our lives and our personal histories.

They have opened us to wisdom, healing and enlightenment and liberated us from limiting thinking and unconscious conditioning.

Their influence has helped us turn wounding experiences of the past into sources of great personal strength.

Throughout all the intense and profound change aspects of the year, they have beamed down to us boundless optimism and the reassurance that our lives truly are good and blessed — and, more importantly, that each one of us is truly good and blessed.

Each of us has moved into new stages of self-acceptance, self-mastery and compassion and love for ourselves. We’re feeling more safe and competent and able to fend for ourselves, and more at home in our skins and on this planet.

*The influence of these planets has linked us to our higher guidance as a tool for navigating daily life.

They have been building a bridge between our spiritual and earthly lives that allows us to live simultaneously in both.

Major and magical gifts all of them, and there are more to come in the final round of this bounty this month.

Open your arms to it.

If there was ever a time in your life to take risks and accept and say yes, this is it.

Santa may be a mythical character, but the energy of his generosity is real, and it’s with us for the next three weeks. Write him a letter. Be big and bold and daring and outrageous in your requests. Ask for your heart’s desire. Ask for situations and resources that push you into new and exciting horizons and inspire you to take actions you have been hesitant to admit you wanted or might be possible.

Remember what you asked for in the past that didn’t happen then. Dredge up requests you sent out years ago that you might have forgot. All of them may be on the way. Scout’s honor.

Jupiter operates on a 12-year cycle and often brings rewards for actions that you took long ago. Watch for indications that intentions that you formulated years ago are coming into being. It’s already happening for some people.

A pal who’s a fellow intuitive and I were discussing how this phenomenon has been operating in our own lives recently.

We’ve both been seeing all kinds of disparate wishes that we’ve had for years taking physical shape and converging like land masses moving into new continents (recreating our own personal Panageas).

Some of the materializing is taking a slightly different shape than the way we initially envisioned years ago, but it’s happening nonetheless, and in ways that are making our jaws go slack. It’s worth contemplating your own life for signs that this is happening for you, too.

This week, with Uranus’s direct motion, watch for sudden breaks, recognitions of what’s unfolding before you, and people you’d given up on popping up and identifying themselves, even subtly, as important to your future.

With Jupiter tightening his conjunction to Chiron, watch too for renewed surges of self-worth and acceptance, and a comfort level with yourself and your past bordering on empowerment.

But wait! There’s more!

Reason for good cheer, that is.

*Venus, who rules our social dealings, moves into Jupiter’s happy-go-lucky territory of Sagittarius on Tuesday. With that, the party season officially begins. Venus has been focused, possessive and mysterious in Scorpio; in Sagittarius she kicks off her shoes, tells jokes and pours bubbly all around.

She wants adventures and good times and lots of laughs. When troubles and complications appear, she lets them slide off her back or cracks a joke that belies a deep philosophical understanding of the situation.

As her first order of business in her new home, she’s loosely overseeing the Gemini Full Moon on Wednesday.

This one brings communication, information and perspectives to a head, and Venus’ participation causes those developments to play out in the arena of relationships and self-worth. The Gemini/Sagittarius axis deals with our information flow (its content, how we get it and where/how we send it out) and how we expand it into larger constructs, systems and philosophies. You could think of it as the spectrum from monkey mind to higher mind, from collecting trivia for its own sake to learning to gain mastery and wisdom.

Although a Full Moon is generally an emotional crest, this one is likely to be more cerebral, because it occurs on an intellectual axis and also because it does not have the involvement of Uranus and Pluto that have made other recent Moons so tumultuous. We may have an emotional investment in or reaction to the messages that build under this Full Moon, but developments are less likely to wind or rile us as they have in the past few months. For more on the Full Moon, read my report on the site.

The week ends with one final shift. Mercury leaves Sagittarius for Capricorn on Saturday and provides a grounding cord for Venus’ adventures and the high flying Jupiter and company will have us doing. Even as we explore the heights of possibilities our mental processes will be practical and goal-oriented, enabling us to convey our thoughts in concrete and understandable language. As the Aquarius/Uranus traveling party has us cruising through exciting horizons, our minds will be working out the steps we’ll need to take on the ground to get there.

Monday: Dynamic aspects make this a day for pressing forward. They’re certainly not going to let us slide or coast or procrastinate, that’s for sure. Expect to find yourself confronting power struggles (which you don’t have to join, remember). When information comes that you don’t like, file it away, especially if the content or source is unexpected. It may be useful or make more sense as the Moon grows Full tomorrow. Regardless, this afternoon’s messages will jar your point of view into something more open and beneficial.

Tuesday: It’s the first day of December, and there are big goings-on in the sky that promise quite a different feel for this month. (Whew!) Mercury is in opportunity aspect to Neptune and offers a higher perspective on an important matter. Let love and compassion permeate your thoughts and words and watch a door open magically. Uranus stations direct today, too. It’s unlikely that logjams will suddenly burst apart (although who knows; anything can happen when Uranus gets moving), but the shift in mood is palpable. Indulge in a sigh of relief; it’s safe, not to mention overdue. Entertain the new prospects and possibilities that come to mind. And go back to the dreams that ended up on the shelf last summer. Some of them can trickle down into this plane of existence now. While they’re making their way down, give yourself permission to have some fun. Venus’ entry into Sagittarius lightens the intensity and drama that’s been running through all our relationships and invites us to laugh and enjoy each other. Gravitate to the people who make you feel glad to be alive. As tomorrow’s Full Moon in Gemini builds, watch for status reports on your relationships.

Wednesday: The Gemini Full Moon occurs in the dark of night in the Western Hemisphere and fills dreams with bits of information and ways to piece them into a bigger picture that makes sense. Even if you do not consciously understand what cycled through your psyche overnight, notice what draws your energy and attention throughout the day. Processing will be invigorating and productive, as the Moon sextiles Mars, trines Jupiter and squares Uranus. On a deep level you do understand what’s going on in your major relationships. You get the big picture and greater meaning, and you know what you want. Look for motivation and chances to push your agenda forward. The day promises an increase in emotional satisfaction (or, at least, the willingness to go for it), followed by twists and turns that land you in freer, if perhaps disorienting, territory.

Thursday: We awaken with the Moon void of course, which lasts until late morning EST. Since her last contact is a pre-dawn opposition to Mercury, dreams may act out scenarios and deliver messages that we haven’t been consciously able to see for what they are. As always, checking in with your mental chatter on awakening will be informative. A Venus/Pluto growth aspect reverberates throughout the day and stirs issues of love, desire and attraction. It holds the prospect of desires coming into alignment with your higher will. You may see how far you’ve come in bringing desires into being, or perhaps in bringing them under control. Since this aspect involves both of the money planets, developments could demonstrate how much you’ve matured in accepting and projecting your inherent worth, measured in cold, hard cash to boot

*Friday: Venus and Saturn stretch out a helping hand. It would certainly behoove you to take it, or at least think long and hard before turning it down. Their offer helps build or shore up an important foundation, within you for certain and possibly also in an external situation as well. If it requires your accepting responsibility for your side of a relationship equation, why not do it? That’s not merely an act of maturity, but also a step toward internal stabilization. And inner equilibrium is the point, ultimately, of this relationship lab we’re in. Yes, it’s good and helpful to have balance and harmony with the people in our lives, but the state of our dealings with them is really just a reflection of our own internal condition. When that is calm and in order, everything else follows. So do not reject today’s opportunity out of hand.

Saturday: We wake again in a void Moon, which lasts from midnight to noon EST. Dreams inside the void will be eye-opening, since the Moon kicks off the event with a trine to Uranus and sends lightning bolts flying. Your psyche gets a makeover, but unfortunately the circumstances you awaken into are the same as they were last night. Don’t expect the people around you to have been treated to the same enlightenment overnight as you were. (Yes, they were treated to some, but don’t assume their issues parallel yours.) Monitor your frustration and aggression as you ease into the day. It will be easy to resent obligations, chafe at restrictions or read a “no” into requests and responses. Communications stabilize after Mercury moves into Capricorn midday. Wait till after then to bring up topics with long-term consequences. If you are in the process of dismantling a relationship, as so many people are now, this afternoon is suited for maturely discussing the nuts and bolts of separating property and obligations.

Sunday: All of the day’s aspects belong to the Moon. The air is lighter and friendlier in the morning than early afternoon EST, when nerves will fray at slight provocation. Yesterday’s dreams and discussions shook up more than you realized at the time, which you will now see if the other party to a conversation overreacts today. If you’re the one making the outburst, trace it back and investigate what has you feeling threatened. If you’re on the receiving end of one, use the reflection theory of relationships to explore what buried part of yourself the other person is expressing. There’s no cosmic call to escalate anything into a federal case right now, so don’t jeopardize the respite. Tread lightly and the mood can stay that way, too.

http://www.thecosmicpath.com/

Contacts between al-Maliki, Salih and al-Hakim to resolve the differences between Baghdad and Erbil

A source close to the Prime Minister of Kurdistan, Barham Saleh, who requested anonymity, said that Saleh made a special effort with Prime Minister Nuri al-Maliki and the President of the Islamic Supreme Council Ammar al-Hakim and the parties from the federal government to reach a common conviction based on mechanisms of action to resolve the differences between Baghdad and Arbil, on oil and the Peshmerga and the disputed areas

The source added to the site ", Journal of Baghdad," said Maliki and Hakim are participating to show concern for and attention to the outstanding issues between the Government of the province and the federal government, because the shelving differences, and not resolve the problems led to Tameev between the parties and turned into a source of concern, and stressed that the Barham Salih, by virtue of his previous position in the Iraqi government Deputy Prime Minister and Iraq's relations with the heads of political blocs and coalitions, will help to build a common understanding by the parties to show seriousness in resolving the differences.

Referred to Faryab Raundozi Alchristani coalition spokesman, revealed the expected visit of a delegation of the Kurdistan regional government in Baghdad "to resolve the differences between the ministries in the government of the province and the federal government and to find cooperation between the two versions and discuss some issues of contention between the Federal Government and the region", adding that cooperation has existed for long period between the coalition and the coalition, especially since there is an alliance between them, and confirmed the intention of development after the elections, and meetings conducted by the coalition Alchristani with the National Coalition and the coalition of state law to confirm the coalition.

Raundozi said that the visit was agreed during the visit of Prime Minister Nuri al-Maliki to Dokan and meeting in the Kurdish leaders, but there are things that make the trip, which hindered the region's election and government formation in the region.

The Nuri al-Maliki, the prime minister visited the provincial capital of Irbil last August for the first time since taking office in 2006, said in a news conference with Massoud Barzani, head of Kurdistan Aqilm the time that the two sides agreed to set up a committee to identify the issues outstanding between the two sides and the development of mechanisms and timetables to end the problems.

The Roandozi provincial government put an end to their accounts of outstanding issues, especially after the parliamentary elections to come.

He ruled out that the unity of the situation between the Kurdistan Alliance and the Shiites of the election law is the reason for a visit, the convergence of the two parties. He said the cooperation has existed for a long period between the coalition and the coalition, especially since there is an alliance between them, pointing out that there is an intention to develop it after the election, and the presence of the meetings conducted by the Coalition Alchristani with the National Coalition and a coalition of state law to confirm the alliance.

Meanwhile, leader of the Dawa party (al Iraq), Abdul Hadi al-Hassani said the upcoming visit is aimed to remove some uncertainty and confusion in some of the disputed materials, adding that the ministries of the Kurdistan regional government was to work independently away from Suez authority the federal government.

Hasani said that the Kurdistan Regional Government wanted to act individually and far from central authority and the oil contracts signed and enacted laws based on the look to the federal approach to the concept of independence. The visit comes after a lot of concepts intersected the Constitution, a step to remove ambiguity in the interpretation of winning.

He said Hassani and there is coordination between the Kurdistan Alliance and a coalition of state law in a lot of things, "but this format does not harm the national principles with a keen between the two parties to resolve outstanding issues, especially before the elections, to continue their alliance after the elections."

The Barzani had identified the main points of dispute with Baghdad, "the disputed areas and the peshmerga, and the law of oil and gas, but most of all this is the form of government, exclusivity and army building as well." Maliki described Altotrbin Baghdad and Arbil, at a conference in "the United States Institute for Peace" in the U.S. capital as "one of the most serious problems of concern to all the Iraqi government.


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EU businesses calls on WTO to speed up Doha talks

EU businesses calls on WTO to speed up Doha talks

Sunday, November 29, 2009 19:45 IST

Geneva: The European businesses, growing frustrated at slow progress in the World Trade Organisation's (WTO's) Doha round, called on Sunday for the WTO to speed up negotiations next week.

The WTO is holding a ministerial conference from Monday to Wednesday, but negotiations on Doha, launched eight years ago to open markets and help developing countries grow through trade, are off the agenda.

Instead ministers will review the WTO's work and its contribution to economic recovery and tackling problems such as climate change.

Doha is likely to be discussed on the sidelines. Economists argue about precise benefits of a Doha deal but political leaders and the WTO believe it would boost business confidence by removing uncertainty from the world economy.

"At some point of time all WTO members will have to make up their minds on the conclusion of the round," said Carsten Dannoehl, senior adviser for international relations at BusinessEurope, the EU business lobby.

"What could be a better moment than a WTO ministerial meeting that gathers the whole membership?" he told reporters.

BusinessEurope is expected to issue a call during the conference for the WTO's 153 members to focus on concluding a Doha deal, which would cut industrial and agricultural tariffs, slash farm subsidies and open up trade in services.

WTO Director-General Pascal Lamy says a Doha agreement is 80% complete. But mindful of previous WTO conferences that broke up in acrimony, he wants to avoid submitting an incomplete proposal to ministers.

"Of course there will be a discussion, but what there will not be is a ministerial decision on options, texts, which are on the table...It simply is not ripe for this kind of thing," he told reporters on Thursday.

Political leaders have called on WTO members to reach a Doha agreement in 2010, but Lamy has said negotiations will have to speed up to meet that new deadline. Members will take stock and decide whether 2010 is realistic early next year.

Poverty action group Oxfam said completing the Doha round would not solve all development challenges but would at least remove some of the worst trade distortions.

"The very fact that the Doha round is not even on the agenda of this week's ministerial shows that the round is moribund. Yet a strong and fair multilateral trading system is more needed than ever at a time when poor countries are being triply punished by the food, climate and economic crises," said Celine Charveriat of Oxfam International in a statement.

Around 3,000 demonstrators protested in Geneva on Saturday at WTO policies that they say promote poverty, but the march was called off after some 200 protesters rampaged through the city centre smashing windows and setting fire to cars.

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