Figured Shabibi or somebody from the CBI was at Davos...but cool to see it in a article...Good Find LK:
Forum "Davos" continue Ajmaath .. And high hard currency reserves in Iraq
30/01/2010 11:46 30/01/2010 11:46
Erbil, January 30 (AKnews) - World Economic Forum continues for the fourth day in a row held Ajmaath Swiss resort of Davos under the slogan (re-thinking and language in order to improve the conditions of the world).
Forum was launched last Wednesday attended by about 2500 of the world's political leaders, businessmen, media and civil society organizations, including some 30 heads of state and 60 ministers, amid the emergence of a dispute between the bankers and decision makers in the world about the control of the banking system in the context of ways to further economic recovery.
The main guest Davos session, French President, Nicolas Sarkozy, who delivered the opening address, to be the first president to speak at the Davos forum, he severely criticized distortions of capitalism, calling for reform of the banking laws, as had been agreed to coordinate relief aid and humanitarian assistance in the wake of the devastating earthquake that struck Haiti two weeks ago.
Sarkozy considered that the profession of banking was not to speculation, but the financing of development and the economy. Adding, "We still face significant risks in the economy and encourage speculation." He emphasized, "is compatible with U.S. President Barack Obama, who finds that it is necessary to prevent the banks from speculative interest and the financing of speculative funds."
A statement by the World Economic Forum Nscheraly its website, said that the financial crisis in 2008 and recession in 2009 led to questions about the future of the global economy and provide a basis for economic interdependence and reduce the gaps and to rethink business models and financial innovation and risk management.
The statement called on to rethink the role of legislative bodies and regulatory authorities, national and international organizations to re-design of their policies and regulations in order to bridge gaps and restore growth.
The World Economic Forum at its previous meeting that the world would have to invest in clean technology up costing more than $ 10 trillion, in 2030, to save the planet from rising temperatures due to climate change.
According to a report prepared by the Organizing Committee for the Economic Forum in Davos that the world needs to spend 515 billion dollars a year on modern methods to reduce emissions of greenhouse gases that cause global warming.
The economic crisis and finance around the world to push climate change towards the bottom of the agenda of the Davos forum, but the report stressed the need to lift the world to its own funds to preserve the environment.
"Prompt completion of trade liberalization talks"
A session of the World Economic Forum, business leaders called for governments to fulfill their obligations to complete the trade liberalization talks stalled during the current year and support the global economy.
The World Business Council called on world leaders to honor their pledges they made at the top of the Group of Twenty in Pittsburgh in the U.S. last September to reach an agreement during the year 2010.
The council said in a statement: "It is time to show the world's governments committed to the system, which helped to achieve growth and development over 60 years ago."
He pledged South Korea's President Lee Myung-bak, who heads the Group of Twenty leading economies this year, in a speech to the Forum, to make this a top priority for the group's summit to be hosted in Seoul in November next year.
He said of the WTO negotiations, which began in 2001 in the Qatari capital of Doha, "will be given the highest priority to the completion of the development agenda of the Doha talks by the end of the year."
For his part, U.S. President Barack Obama in the State of the Union speech last Wednesday he would push for a global trade deal opens world markets, but gave no target date of 2010 set by the Group of Twenty.
Commented the Director General of WTO, Pascal Lamy, saying that Obama has pledged to go in the right direction, and it indicates that the U.S. President gives trade a greater priority in the economic orientation.
Egyptian Trade Minister Rashid Mohammed Outlook Express pessimistic when he said in He does not expect an agreement on global trade this year, since the economic crisis, raising fears among Western countries with regard to trade liberalization.
Rashid said that with the high rates of unemployment in the United States and Europe, free trade negotiations will be more difficult.
For his part, British Trade Minister Mervyn Davies said that regulators should relax restrictions on trade finance to reflect the less serious nature of short term instruments in order to support global economic recovery.
The funding of the biggest victims of the trade credit crisis in 2008, fears the World Trade Organization and the banks operating in this area that the tightening of regulatory actions on the banks since the crisis began to undermine efforts to revive the market.
And defining the rules of Basel on bank capital prolonged loan for one year at a minimum for all types of lending, including trade finance. Most of the trade finance transactions extends to less than this duration, which means that banks will link the reserves without the need for it.
An expert trade finance Trade Organization Mark Oobuyn earlier that the leading banks unite to persuade the regulators to ease capital requirements for trade finance.
"Information and communication experts in Davos, also the beginning of February 2010"
End meetings on the World Economic Forum and the Swiss resort will meet again in the period between the eighth and ninth of February next communication experts and media from all over the world, directly following the conclusion of the World Economic Forum meeting to be held in the same place.
"Central Bank of Iraq announces rise in hard currency reserves to 42 billion dollars"
On the other hand, the Iraqi central bank announced a rise Reserve Bank of hard currency to U.S. $ 42 billion last year.
Director General of Statistics and Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Saleh, told (AKnews) "This rise in Iraq's reserves of hard currency calculated without taking into account the reserve original Iraq's old or imports of Iraqi oil," noting that "the height of the success of the policy manual Finance which the Central Bank of Iraq. "
According to Saleh, the interest rate to the Central Bank of Iraq is 7% from 9% before June 2009, and that interest rates in the banks of the Central Bank of Iraq is still higher than the inflation indicators in Iraq.
Noting that "interest rates in the Central Bank determined the adoption of inflation expressed by the index of consumer prices excluded from transportation and fuel prices based on supply and demand and not affected by shocks and economic fluctuations."
Saleh also highlighted that "the reduction of interest in Iraqi banks at the present time came to equal the rate of inflation" .. Stressing that "this matter does not affect economic development in Iraq."
The Central Bank reserves have reached 30 billion dollars in 2008, when the price of oil to $ 147 a barrel.
(آكانيوز) ط خ 30/1/2010 (AKnews) SH 30/1/2010
Forum "Davos" continue Ajmaath .. And high hard currency reserves in Iraq
30/01/2010 11:46 30/01/2010 11:46
Erbil, January 30 (AKnews) - World Economic Forum continues for the fourth day in a row held Ajmaath Swiss resort of Davos under the slogan (re-thinking and language in order to improve the conditions of the world).
Forum was launched last Wednesday attended by about 2500 of the world's political leaders, businessmen, media and civil society organizations, including some 30 heads of state and 60 ministers, amid the emergence of a dispute between the bankers and decision makers in the world about the control of the banking system in the context of ways to further economic recovery.
The main guest Davos session, French President, Nicolas Sarkozy, who delivered the opening address, to be the first president to speak at the Davos forum, he severely criticized distortions of capitalism, calling for reform of the banking laws, as had been agreed to coordinate relief aid and humanitarian assistance in the wake of the devastating earthquake that struck Haiti two weeks ago.
Sarkozy considered that the profession of banking was not to speculation, but the financing of development and the economy. Adding, "We still face significant risks in the economy and encourage speculation." He emphasized, "is compatible with U.S. President Barack Obama, who finds that it is necessary to prevent the banks from speculative interest and the financing of speculative funds."
A statement by the World Economic Forum Nscheraly its website, said that the financial crisis in 2008 and recession in 2009 led to questions about the future of the global economy and provide a basis for economic interdependence and reduce the gaps and to rethink business models and financial innovation and risk management.
The statement called on to rethink the role of legislative bodies and regulatory authorities, national and international organizations to re-design of their policies and regulations in order to bridge gaps and restore growth.
The World Economic Forum at its previous meeting that the world would have to invest in clean technology up costing more than $ 10 trillion, in 2030, to save the planet from rising temperatures due to climate change.
According to a report prepared by the Organizing Committee for the Economic Forum in Davos that the world needs to spend 515 billion dollars a year on modern methods to reduce emissions of greenhouse gases that cause global warming.
The economic crisis and finance around the world to push climate change towards the bottom of the agenda of the Davos forum, but the report stressed the need to lift the world to its own funds to preserve the environment.
"Prompt completion of trade liberalization talks"
A session of the World Economic Forum, business leaders called for governments to fulfill their obligations to complete the trade liberalization talks stalled during the current year and support the global economy.
The World Business Council called on world leaders to honor their pledges they made at the top of the Group of Twenty in Pittsburgh in the U.S. last September to reach an agreement during the year 2010.
The council said in a statement: "It is time to show the world's governments committed to the system, which helped to achieve growth and development over 60 years ago."
He pledged South Korea's President Lee Myung-bak, who heads the Group of Twenty leading economies this year, in a speech to the Forum, to make this a top priority for the group's summit to be hosted in Seoul in November next year.
He said of the WTO negotiations, which began in 2001 in the Qatari capital of Doha, "will be given the highest priority to the completion of the development agenda of the Doha talks by the end of the year."
For his part, U.S. President Barack Obama in the State of the Union speech last Wednesday he would push for a global trade deal opens world markets, but gave no target date of 2010 set by the Group of Twenty.
Commented the Director General of WTO, Pascal Lamy, saying that Obama has pledged to go in the right direction, and it indicates that the U.S. President gives trade a greater priority in the economic orientation.
Egyptian Trade Minister Rashid Mohammed Outlook Express pessimistic when he said in He does not expect an agreement on global trade this year, since the economic crisis, raising fears among Western countries with regard to trade liberalization.
Rashid said that with the high rates of unemployment in the United States and Europe, free trade negotiations will be more difficult.
For his part, British Trade Minister Mervyn Davies said that regulators should relax restrictions on trade finance to reflect the less serious nature of short term instruments in order to support global economic recovery.
The funding of the biggest victims of the trade credit crisis in 2008, fears the World Trade Organization and the banks operating in this area that the tightening of regulatory actions on the banks since the crisis began to undermine efforts to revive the market.
And defining the rules of Basel on bank capital prolonged loan for one year at a minimum for all types of lending, including trade finance. Most of the trade finance transactions extends to less than this duration, which means that banks will link the reserves without the need for it.
An expert trade finance Trade Organization Mark Oobuyn earlier that the leading banks unite to persuade the regulators to ease capital requirements for trade finance.
"Information and communication experts in Davos, also the beginning of February 2010"
End meetings on the World Economic Forum and the Swiss resort will meet again in the period between the eighth and ninth of February next communication experts and media from all over the world, directly following the conclusion of the World Economic Forum meeting to be held in the same place.
"Central Bank of Iraq announces rise in hard currency reserves to 42 billion dollars"
On the other hand, the Iraqi central bank announced a rise Reserve Bank of hard currency to U.S. $ 42 billion last year.
Director General of Statistics and Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Saleh, told (AKnews) "This rise in Iraq's reserves of hard currency calculated without taking into account the reserve original Iraq's old or imports of Iraqi oil," noting that "the height of the success of the policy manual Finance which the Central Bank of Iraq. "
According to Saleh, the interest rate to the Central Bank of Iraq is 7% from 9% before June 2009, and that interest rates in the banks of the Central Bank of Iraq is still higher than the inflation indicators in Iraq.
Noting that "interest rates in the Central Bank determined the adoption of inflation expressed by the index of consumer prices excluded from transportation and fuel prices based on supply and demand and not affected by shocks and economic fluctuations."
Saleh also highlighted that "the reduction of interest in Iraqi banks at the present time came to equal the rate of inflation" .. Stressing that "this matter does not affect economic development in Iraq."
The Central Bank reserves have reached 30 billion dollars in 2008, when the price of oil to $ 147 a barrel.
(آكانيوز) ط خ 30/1/2010 (AKnews) SH 30/1/2010