rcookie Quote: “IMF agrees to Iraqi economic programDirect” IT IS IRAQS REPORT CARD OF ECONOMIC & FINANCIAL POLICY SINCE THE AGREEMENT OF IMF MONITORING & OVERSIGHT…WHAT THEY HAVE DONE…ARE DOING..AND TASKED TO DO GOING FORWARD…
THE END OF FEBRUARY…IS ONE OF THE REVIEW INTERVALS FOR THE IMF OVERSIGHT PANEL TO MAKE SURE THE IRAQIS HAVENT STRAYED AWAY FROM PROGRAM AND ECONOMIC COMMITMENTS…
AS A MATTER OF FACT THEY HAVE PRE-DELIVERED (EARLY) ON THE MAJORITY OF THEIR MANDATES…AML LAWS…IAS IMPLEMENTATION…AND EVERY BUDGETARY MANDATE…
DEFICIT REDUCTION…SALARY LADDER IMPLEMENT…3 YEAR HIRING FREEZE…NON OIL REVENUE STREAMS INCLUDING CUSTOM TARIFFS ACTIVATE (IN BUDGET). …
RBI and BIS gain access to China’s interbank FX market
Second batch of official investors receive permission to trade FX spot and derivatives onshore;
MAS and BoK are among them Seven central banks and international financial institutions, including the Reserve Bank of India (RBI) and the Bank for International Settlements (BIS), have gained access to China’s interbank foreign exchange market, allowing them to carry out spot and derivatives transactions onshore for the first time.
Switzerland: A Test Case for Currency Shock
Decision a year ago to abandon franc’s ceiling raises cost of Swiss goods in global markets, complicates inflation efforts; ‘a disaster for many companies’
ZURICH—A year after the Swiss central bank scrapped its policy of limiting the value of the franc, the Alpine country has become a test case for the economic effects of a starkly stronger currency.
At a stroke, the Swiss National Bank ’s shock decision on Jan. 15 of last year to abandon the ceiling it had defended for more than three years made the country’s products and services nearly 20% more expensive to euro-using customers.
Swiss manufacturers and resorts bore the brunt of the impact. Although the franc weakened slightly during the course of 2015, at around 1.09 to the euro it is still roughly 10% higher than before the announcement.
Switzerland’s decision also ushered in a period when currencies took center stage in policy makers’ efforts to prop up growth and boost inflation. While it sent the cost of Swiss goods higher in global markets, it also lowered consumer prices at home, complicating efforts by its central bank to achieve mild but steady rates of inflation.
Switzerland dodged a recession last year and still runs a trade surplus. But its performance has been mixed, with many companies laboring under the higher currency, slowing growth and rising unemployment. Expectations for 2016 are for a tepid economic improvement at best.
“It’s been a disaster for many companies,” said Hans Hess, president of Swissmem, which represents the country’s metal and machine-tool industry. “Overnight, many companies saw their profit margins disappear.”
Author: AB, AY, BS Editor: AB, BS 2016/01/15 17:29
Secretary General of the upper threshold Nizar Hashim strong rope and a number of clergy through access to gold coins used in gilding the upper dome
Announced that the upper threshold management, on Friday, to start the second phase of the project re-gilding the upper dome using 100 kg of gold, and pointed out that phase will include the installation of more than nine thousand pieces of gold, and as pointed out that the last gilding process of the dome has between 1969 1970, confirmed that the project will be finished within this year.
He said the strong rope, that ” The project includes the replacement of old pieces and re-maintenance and preservation of important historical value ”, stressing that “the current year will witness the completion of the gilding the dome fully.”
For his part, he said a member of the Council of the threshold management upper Muzaffar darling in an interview to the (long-Presse), “The Last gilding process of the dome has between 1969-1970 by one of the benefactors in Najaf,” noting that “direct the new project for gilding the dome has before the year of Now where was the completion of the first phase of it. ”
He loved, that “direct the second phase which includes the gilding of the Dome of the superstructure has today,” pointing out that “every piece of gold amounted to consume 12 to 15 grams of gold.”
In turn, said a member of the committee supervising the project gilding and maintenance Falah al-Sarraf said in an interview to the (long-Presse), “The weather caused a negative impact on the overall shape of the dome, which calls for re-Tzhebha,” noting that “the presidency of the Shiite Endowment agreed previously to finance the project through the purchase of 100 kg of gold by the Central Bank of Iraq. ”
He pointed teller, that “the number of gold pieces had been replaced in the first phase amounted to two thousand and 525 pieces,” asserting that “the second phase will include the replacement of the rest of the pieces 9 guestrooms and 217 thousand pieces and renumbered.”
He said the cashier, that “the total number of the golden dome of cut about 11 thousand and 742 pieces,” pointing to “the establishment of a workshop for the repair and gilding pieces.”
The General Secretariat of the upper threshold announced, in July of 2013, implementation of the “largest dish of hand Western threshold project at a cost of $ 600 million, and pointed out that the dish can accommodate 200 thousand visitors duration of the implementation of up to five years, and reached a completion rate of more than 60% but It was a large fire in the summer of 2015 caused significant damage to him.
The shrine, is a large arena, which is the middle of the shrine of Imam Ali bin Abi Talib, is surrounded by a la carte wall square shape almost the length of both the eastern and western Dilaah from abroad seventy-four meters and the inside seventy-two meters, either the total area of the dish now they nearly eight Thousands of square meters, and has a height in most of its parts seventeen meters.
Walkingstick: Experts: Oil will reach $ 10 a barrel and gasoline will become cheaper than water
5Published on: Today, 11:37 Sky Press / follow-up
With the significant decline in world oil prices Experts predicted that the price of a barrel up to $ 10 only, while others occur
Oil prices have fallen by 30% since early December / December 2015, with the price of Brent crude fell to $ 30 toward -oa
Astrlinaa- 20 pounds per barrel early in the second week of January 2016.
For their part, experts in the oil to the newspaper “Mirror” British anticipate the possibility of falling prices for most of it, where warned Standard
Chartered possibility of the arrival of the price per barrel to $ 10 (less than 7 pounds Sterling).
Away from sterling to fall against the dollar.
In December / December, lowering the price of gasoline fuel traders to less than one pound a liter for the first time since
In 2009, while diesel was dealt with in the same manner during the past week.
The average gasoline prices across the United Kingdom 102.5 pence per liter, while the average diesel prices up to 103.2 pence.
Awaited car owners a tremendous decline in fuel prices in Britain during 2016 “.
“In fact, it could get to time have its price per liter of fuel less than the price of a liter of bottled water.”
Because of the continuing declines in the global price of oil demanded the organization of the need to reduce car diesel prices even further.
Williams added, “We should see a drop a few pennies in the price of diesel, so that the average price is lower than the average price