Walkingstick: Nassif: Zebari pull trillion dollars of Treasury and pass it to the territory of its share of the budget
Economy and tenders since 01/16/2016 17:17 pm (Baghdad time)
Special – scales News
It revealed the MP for the coalition of state law, high Nassif, on Saturday, the withdrawal of the Minister of Finance Housher Zebari trillion dollars from the central bank and delivered to the province its share of the budget in 2016.
Nassif said that “Finance Minister Hoshyar Zebari pull a trillion dollars from the state treasury and handed over to the territory of its share of the budget in 2016”
http://www.mawazin.net/%D9%86%D8%B5%D9% … 9%86%D8%A9
Walkingstick: Iran close to collecting $100B in frozen assets after nuke deal compliance, country official says
Published January 16, 2016
“All oppressive sanctions imposed against Iran will be annulled today,” Mohammad Javad Zarif said in comments on Iranian state TV — a reference to the start of the process that will end financial and other penalties imposed on his country once the U.N. agency says Tehran has fulfilled its obligations to restrict its nuclear programs.
Certification by the International Atomic Energy Agency would allow Iran to immediately recoup some $100 billion in assets frozen overseas. The benefits of new oil, trade and financial opportunities from suspended sanctions could prove far more valuable for Tehran in the long run.
Zarif and EU foreign policy chief Federica Mogherini, who met Saturday morning, were to be joined later by U.S. Secretary of State John Kerry in Vienna, headquarters of the IAEA. Kerry’s plane landed in the early afternoon.
Zarif said the deal between his country and the six world powers would hold, telling Iranian media that all parties would “not allow the outcome of these talks to be wasted.”
“Our region has been freed from shadow of an unnecessary conflict that could have caused concerns for the region,” he said. “Today is also a good day for the world. Today will prove that we can solve important problems through diplomacy.”
Iran insists all of its nuclear activities are peaceful. But under the July 14 deal, Iran agreed to crimp programs which could be used to make nuclear weapons in return for an end to sanctions.
The agreement puts Iran’s various nuclear activities under IAEA watch for up to 15 years, with an option to re-impose sanctions should Tehran break its commitments.
http://www.foxnews.com/world/2016/01/16 … -says.html
Walkingstick: Xi officially launches AIIB
Updated: January 16, 2016 13:48 IST
The China-led Asian Infrastructure Investment Bank (AIIB) was formally opened for business on Saturday, signaling the steady revamp of the global financial architecture, which will also soon incorporate the New Development Bank of the Brazil-Russia-India-China-South Africa (BRICS) grouping.
Chinese President Xi Jinping, in his inaugural address saw the launch of the AIIB as “a historical moment.” “Asia’s financing needs for basic infrastructure are absolutely enormous,” Mr. Xi observed. He added that the bank would target investments in “high-quality, low-cost” projects.
Earlier in an interview, Chinese Finance Minister Lou Jiwei — the first Chairman of its council — described the AIIB as a milestone in the reform of the global economic governance system.
The AIIB is expected to open a new channel of funding for the Global South, which was so far dependent on the western backed International Monetary Fund (IMF), the World Bank and the Asian Development Bank (ADB), in which Japan plays a pre-eminent role.
Observers say that the new lender will focus on infrastructure development in Asia — a move that is likely to support the Eurasian connectivity initiative under the China-led Belt and Road framework.
In an article in the People’s Daily, the official newspaper of the Communist Party of China (CPC), the bank’s President-designate, Jin Liqun, stressed the bridging the digital divide between the regional and global economies would be the bank’s top priority. The article said that the bank will focus on digital infrastructure including fixed broadband networks, cross border and undersea fiber optic telecommunication cables, wireless sensor networks, satellite services, new generation mobile telecommunication networks, cloud computing and big data platforms.
The formation of the AIIB led to opened cracks in the Atlantic Alliance, with major European countries including Germany, Britain and France broke ranks with the United States to join the 57-member Bank.
Significantly, Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD) was in the audience during Saturday’s launch, signaling the deepening connect between Europe and Asia in bolstering Eurasian connectivity. China, the world’s second largest economy, has become the 67th member of the EBRD.
In an interview with Xinhua news agency, Mr. Chakrabarti lauded China’s Belt and Road initiative for the development of the region and trade.
“The Silk Road will reduce time taken for exports between China and Europe. If we can get the infrastructure moving this will reduce the costs of imports and exports both ways between China and Europe,” he observed.
“The demand for infrastructure in our shared region is great; we cannot fulfill it alone. Nor could we with the World Bank or the Asian Development Bank, together we couldn’t do all of it. So it is great to have this additional firepower,” he observed.
The EBRD was set up in 1991 to aid infrastructure development in Eastern Europe. Since then it has broadened its area of operations to include central Asia, some Mediterranean and North African nations, the Balkans and Southern Europe.
http://www.thehindu.com/news/internatio … 113811.ece