Ghani Orders Reopening Of Kabul Bank Fraud Investigation

Afghanistan’s President Ashraf Ghani has ordered fresh investigations into a $ 850-million fraud case that nearly brought about the collapse of the country’s largest commercial bank in 2010.

Ghani, who was inaugurated on September 29, ordered Afghanistan’s Supreme Court on October 1 to reopen the Kabul Bank case, saying: “The time for action has come, and as we had pledged, the fight against corruption will be done in a thorough and systematic way.”

Afghanistan’s  courts were criticized for imposing light sentences against those convicted in the case and for allegedly failing to bring to justice the masterminds of a scheme that diverted $ 850 million of fraudulent loans to bank insiders.

Kabul Bank had handled about one-third of Afghanistan’s banking and most of the government payroll — including salaries for the army and security forces.

It was renamed New Kabul Bank after a government bailout.

Based on reporting by AFP and dpa

Radio Free Europe / Radio Liberty

Russia Hands Over Suspect In Kazakh Bank Embezzlement Case

Russia’s prosecutor-general has handed over Erlan Kosaev, a former official with Kazakhstan’s BTA bank who is accused of involvement in an embezzlement scheme that cost the bank billions of dollars.

The prosecutor’s office released a statement saying, “Today, September 21…E. Kosaev was transferred from Russia to Kazakhstan and was put in a confinement area in Astana.”

Kosaev fled Kazakhstan and was apprehended in the Russian city of Bryansk.

He has been held while Russian courts reviewed Kazakhstan’s extradition request.

The main suspect in the embezzlement plot is former BTA chief Mukhtar Ablyazov, who is currently being held in France.

Ablyazov fled before Kazakh authorities could capture him, leaving many of his associates behind in Kazakhstan where they were arrested.

Ablyazov maintains it is his opposition to the Kazakh government that is motivating Astana to seek his extradition and that he would not receive a fair trial back in Kazakhstan.

Based on reporting by KazTag and Interfax

Radio Free Europe / Radio Liberty

Bank of Japan’s Iwata says consumer prices to increase along with wages

Investing.com –

Investing.com – Bank of Japan Deputy Governor Kikuo Iwata Wednesday said consumer prices are likely to increase further along with wages.

“The year-on-year rate of increase in the CPI is expected to accelerate moderately, along with increasing wages, against the backdrop of rising inflation expectations as well as improvements in the output gap, given that Japan’s economy is expected to continue growing at a pace above its potential,” he said.

On monetary policy Iwata said, “the BoJ will continue to strive to pursue appropriate monetary policy measures on its own accord to achieve the price stability target of 2% at the earliest possible time.”

The majority of the nine-board shared the view that Japan can achieve the 2% price stability target at around fiscal 2015.

The BoJ will review medium-term outlooks for real economic growth and inflation rates until fiscal 2016 at the Oct. 31 policy-setting meeting.

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Delta says the world bank has the power.

Delta The World Bank has the power and will be the one to increase the rate of the IQD. An article from the WB states the fact that the rate of the IQD will be increased, with the contingency that they must see stability in Iraq before they will give the green light. The opening of the Rafidain Bank signals that the rate is about to change, however the new GOI needs to be seated. I’m really not concerned if the budget will be opened or not…only looking for the IR to be released – recalling that the new fiscal year begins Oct 1, historically the IQD has revalued around Sept 22, so IMO, Sept looks solid for something to happen; also, articles have come out stating that people will be paid, salaries will be increased, and places that Daash and ISIS have destroyed will be rebuilt when the IQD increases in value, so IMO, within 2 weeks of the new GOI being seated is a very interesting time to watch for a rate. Banks are ready, all appears to be set and we watch and wait for the rate to come out on the CBI website.

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US decries Israel’s West Bank land grab

The United States has described Israel’s announcement of a land appropriation for possible settlement construction in the occupied West Bank as “counterproductive” to peace efforts and urged the Israeli government to reverse the decision.

Israel on Sunday laid claim to nearly a thousand acres (400 hectares) in the Etzion settlement bloc near Bethlehem, a move which an anti-settlement group termed the biggest appropriation in 30 years and a Palestinian official said would cause only more friction after the Gaza war.

“We have long made clear our opposition to continued settlement activity,” a US State Department official said. ” This announcement, like every other settlement announcement Israel makes, planning step they approve and construction tender they issue is counterproductive to Israel’s stated goal of a negotiated two-state solution with the Palestinians.”

“We urge the government of Israel to reverse this decision,” the official said in Washington.

Peace Now group, which opposes Israeli settlement activities in the West Bank, territory the Palestinians seek for a state, said the appropriation was meant to turn a site where 10 families now live adjacent to a Jewish seminary into a permanent settlement.

Construction of a major settlement at the location, known as “Gevaot”, has been mooted by Israel since 2000. Last year, the government invited bids for the building of 1,000 housing units at the site.

Peace Now said the land seizure was the largest announced by Israel in the West Bank since the 1980s and that anyone with ownership claims had 45 days to appeal. A local Palestinian mayor said Palestinians owned the tracts and harvested olive trees on them.

Israel has come under intense international criticism over its settlement activities, which most countries regard as illegal under international law and a major obstacle to the creation of a viable Palestinian state in any future peace deal.

Israel has said construction at Gevaot would not constitute the establishment of a new settlement because the site is officially designated a neighbourhood of an existing one, Alon Shvut, several kilometres down the road.

About 500,000 Israelis live among 2.4 million Palestinians in the West Bank and East Jerusalem, territory that Israel captured in the 1967 Middle East war.

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AL JAZEERA ENGLISH (AJE)

Mutual cooperation has been discussed between international bank and Basra governor

The governor of Basra Majid al-Nasrawi discussed in Basra on Wednesday with the executive manager of the Standard and Chandler Bank, Ghavin Weshart, the possibility of mutual economic cooperation.

According to a statement, received from Nasrawi’s office, “The meeting discussed means of sustaining economic between the local government and the international banks since Basra is expecting huge strategic projects and these projects require sober international banks to provide financial support.”

The statement concluded, “Basra is expected to have a great economic growth which forces the local government to build a compatible banking system since Basra is qualified to be the economic capital of Iraq.”

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Central Bank gives licenses to foreign banks

Called economic experts and specialists in the matter of financial and banking sector, the central bank need to work on the expansion of electronic payment services to facilitate the operations of banking and financial transfer to speed up the cycle of the Iraqi economy, criticized the banking system and the way it works that do not comply with international standards and that is not based on providing banking service sound-sensitive by which time the price for a wide audience of citizens and companies, stressing the importance of routine procedures to ease the work of the banks to enable them to develop their work and the introduction of modern electronic systems.

The economist said Mohammed Hammad al-Ani, in an interview for the “long”, that “the possibilities and financial mechanisms for trading banking available dramatically, but it lacks the right decision for the application on the ground and within the contexts of the world recognized.”
and added that “the availability of advanced banking services lead to Ease in financial transfers for individuals and businesses in addition to the speed of achievement he needs the investment side of the country. ” He explained that “the process of development of the banking system can be realized through the issuance of instructions by the central bank encouraged by the banks to the introduction of devices modern banking, and urging them to expand electronic payment services, which is one of modern systems and necessary in the banking business, as it facilitates the exchange of financial” .
, and between that “alleviate some of the complicated procedures for action banking allows banks to civil particularly work on the development work and the use of electronic systems modern equivalent of what exists in neighboring countries.”
and stressed that “routine procedures miserable and managed by banking institutions, the current created an environment repulsive corporate foreign investment Over the past ten years, causing slowed economically significantly. ”
and stressed that “the work on strengthening the economy and its development should be a system developed banking and operates in accordance with the electronic systems of modern followed in most countries of the world.”
while stressing the Iraqi Central Bank, on the need to use modern technologies in Iraqi banks, which are the fundamental basis for the work in the banking world, including the expansion fits in the economic activity of the country. But financial expert Abdul Aziz Hassoun, criticized the work of international banks in the country, and allow the Iraqi Central Bank opened to be “competitive with Iraqi banks and not supportive,” attributing it to being “offers the benefit of companies, countries on the reality of the Iraqi financial sector.”
said Hassoun, a former head Association of Iraqi banks, in an interview to the “long-Presse”, “The opening of branches of international banks in Iraq, including British, adds nothing to the banking sector or the financial Iraqi, for confining their work to firms of their countries,” returned that “it is contrary to custom financial calls the laws of the Iraqi banks. ”
said financial expert, that “the work of those branches draining foreign currency in Iraq because of conversions carried out by”, stressing that “the branches of international banks do not employ a part of the funds deposited in or you are transferring in development projects or grant loans for the advancement of various Iraqi projects, so form a rival Iraqi banks and not supportive. ” And saw a goldfinch, that “any citizen or Iraqi businessman can not open an account in any of the branches of international banks, which should welcome this,” pointing out that “its policy prohibiting it because it came to the implementation of personal interests not only.”
and criticized the financial expert, ” procedures for the CBI, “accusing him of being” granted licenses to branches of international banks without forcing the implementation of a number of businesses that serve the country, such as loans and establish projects that registered a negative point against it. ”
and the central bank had earlier announced its intention to implement the project divided the national which includes linking banks network unified communications managed by a specialized international company and under the supervision of the Central Bank.
was the Iraqi Central Bank revealed, in the first half of 2014, the opening of 15 branches of Arab and foreign banks in the country, as a result of his policy of openness to the world, noting that the withdrawal of leave Branch One of the Arab bank for violating the conditions stipulated by laws.
mentions that the Iraqi Central Bank Governor agency, Abdul-Basit Turki, had threatened during a financial conference held in Dubai, the withdrawal of licenses of five banks operating in Iraq, he did not identify, unless the increase of their capital.
was founded Central Bank Iraqi bank independent under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for the sale and purchase of currencies.

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Bank of Japan July minutes show concern on reaching inflation aims

Investing.com –

Investing.com – Several of the Bank of Japan’s board members expressed a more cautious view on the economic outlook to reach a sustained 2% price stability target by fiscal 2015, according to minutes of the July policy meeting released on Wednesday.

“Some members held a more cautious view of the outlook for prices compared with the forecasts in the baseline scenario, mainly because there seemed to be a high degree of uncertainty surrounding the view that the year-on-year rate of increase in the CPI would reach around 2% around the middle of the projection period (to fiscal 2016),” the minutes showed.

In July, the BoJ decided by a unanimous vote to leave the bank’s policy target unchanged as expected, maintaining its overall economic assessment.

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Soundoc shares a bank story.

Soundoc: Wells Fargo Banker said: Bunch of additional paper work signed ready to go. It didn’t go last night but more than likely go tonight, the TRNs have been activated and we are starting to have them in our tills tonight.

We have one more set of paper work that needs to be signed and then this nightmare is over. I am sorry for all the delays but some of the PTB wanted to push this back till next week but that idea was stopped and we expect it to happen at the latest Saturday night, but like I said everything has lined up and the button was pushed last night and everybody was ready even UTAH. Lol.

OK, really looks like this is it, we are ready.

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Dollar holds steady on data, earnings, central bank meetings

Investing.com –

Investing.com – The dollar held steady against most major currencies on Monday, mainly as investors remained in standby mode ahead of key central bank meetings this week.

Sentiments that Friday’s July jobs report was better than initially interpreted coupled with rising U.S. stock prices gave the greenback some support over its peers.

In U.S. trading on Monday, EUR/USD was down 0.06% at 1.3420.

Later this week, the Bank of England, the Bank of Europe and the Reserve Bank of Australia will unveil their latest decisions on interest rates and monetary policy, which kept many on the sidelines on Monday and stabilized the dollar.

U.S. stocks rose on Monday after legendary investor Warren Buffett’s company Berkshire Hathaway Inc (NYSE:BRKa) beat expectations, which gave the dollar some support.

Elsewhere, a second take on Friday’s U.S. July jobs report left investors concluding the U.S. labor market continues to improve despite persistent slackness, which also gave the dollar support.

The Labor Department reported Friday that the U.S. economy added 209,000 jobs in July, missing expectations for an increase of 233,000, though July marked the sixth consecutive month that the U.S. economy created over 200,000 new payrolls.

The report also showed that the U.S. unemployment rate ticked up to 6.2% last month from 6.1% in June. Analysts had expected the rate to remain unchanged in July, though the report revealed that more unemployed Americans were entering the labor force in search of work last month, a positive sign.

The unemployment rate does not include discouraged unemployed individuals who have given up actively searching for work, so a decision by many to look for jobs can send the headline rate higher, though it also suggests out-of-work Americans are more hopeful with their job prospects.

The dollar was down against the yen, with USD/JPY down 0.07% at 102.54, and up against the Swiss franc, with USD/CHF up 0.06% at 0.9067.

The greenback was down against the pound, with GBP/USD up 0.21% at 1.6858.

The U.K. construction purchasing managers’ index slowed to 62.4 in July from 62.6 in June, better than expectations for a 62.0 reading.

The overall pace of growth was still the fastest since 2007, which gave the pound an edge over the dollar.

The dollar was down against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.07% at 1.0909, AUD/USD up 0.21% at 0.9334 and NZD/USD up 0.12% at 0.8524.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.01% at 81.40.

On Tuesday, the U.S. is to publish data on factory orders, while the Institute of Supply Management is to release data on service-sector activity.

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Rodeo shares his bank story.

Rodeo: My Bank Story: I have read about all the bank stories and thought to myself wish I had one… well after all these years it finally happened!!!!!!!

8/1/14 employee of mine went to a festival and got to talking to a guy ended up the guy works for PNC Bank.

So he asked him about currency this guy actually told him that PNC Bank has been training for what’s to come and that the big four banks are ready and gave him his business card and told him when it happens to call him.

This sure got me excited.

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It’s not over until we are walking out of the bank

Papajack:   The devils mad and I’m glad!!!!!!!!!!!!!! A lot of good stuff floating around out there today!!!!

The light is starting to shine so we should get some real info soon. That being said it’s not over until we are walking out of the bank but things are looking positive for us.

I was told the ZAP post was right on, HINT, HINT!!!!!

It looks like things are moving off top dead center if you know what I mean. Get ready for the rules of engagement to come out so have your ducks in a row and be careful. That darn jet is circling around somewhere.

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West Bank Palestinians die in fresh clashes

Four Palestinians have been killed in the West Bank, a day after mass protests over Israel’s offensive in the Gaza Strip which has killed more than 800 people.

In the first shooting on Friday in Hawara, near Nablus, an Israeli settler shot dead an 18-year-old and injured three other Palestinians, sources told Al Jazeera. Two hours later at the same protest Israeli soldiers open fire, killing a 22-year-old.

Two other Palestinians were shot dead by Israeli solders during a protest in Beit Ummar, near Hebron. One of those killed reportely worked for the Defence for Children International charity.

An Israeli army spokeswoman had no comment on the incident in Beit Ummar, but said there had been “confrontations” between Israeli troops and Palestinians near Nablus “in which settlers were involved”.

Israeli army radio reported that a woman settler opened fire in in the incident near Nablus.

Protests were also reported in East Jerusalem after Friday prayer.

“We are with the resistance [in Gaza], and this is our way of resisting,” said Samir Natsheh, one of the worshippers praying on the street near Al-Aqsa mosque.

“The same Israeli government that is carrying out this aggression in Gaza is taking away our right to pray.”

There were brief scuffles in Wadi al-Joz, an area north of the Old City.

The protests on Friday came a day after two Palestinians were killed in mass protests in the occupied West Bank. The funeral for one, Mohammad al-Araj, 17, was held in Qalandia refugee camp.

The Palestinian Liberation Organisation on Friday called for Palestinians to take to the streets to express their rage at the invasion of Gaza, calling it a “genocide”, and to offer a funeral prayer to those who had been killed on Thursday.

Palestinian activists and Israel media said the Thursday protests appeared to be the largest since the end of a 2000-2005 Palestinian uprising.

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Israel kills two men in West Bank clashes

Israeli police have shot dead at least two Palestinians during a massive protest in the occupied West Bank, just north of Jerusalem, in support of those under siege in Gaza.

Palestinian security and medical officials named one of the men as Mohammed Al-Aaraj, 25, who was among thousands of people clashing with soldiers and border police in Qalandia, between Jerusalem and Ramallah.

Scores of people have been reported injured, several of whom were shot.

The protesters say they also want to reach the Al-Aqsa Mosque, to mark Laylat al-Qadr, or Night of Destiny, when Muslims pray through the night as the holy month of Ramadan nears its end.

“There are thousands of rioters there,” an Israeli army spokeswoman told the AFP news agency.

“They are rolling burning tyres and throwing molotov cocktails and fireworks at soldiers and border police.

“The soldiers are responding with riot disposal means,” she added, a term used to cover less-than-lethal weapons such as rubber bullets and tear gas.

Doctors in the main Ramallah hospital said they had received dozens of live fire victims and appealed for blood donors.

Jerusalem clashes

Earlier, Israeli police had said that due to fears of violent protest over the deadly Israeli military campaign in the Gaza Strip, they would bar men under the age of 50 from Jerusalem’s flashpoint Al-Aqsa mosque for what are usually packed prayers on the last Friday of Ramadan.

Large numbers of police deployed throughout the city on Thursday night and the police said in a statement that two officers were injured by stone throwers in the vicinity of the mosque.

Police said that 20 protesters were arrested in various violent disturbances in Palestinian areas of the city.

At least 800 Palestinians have been killed and more than 5,250 injured during Israel’s offensive against Gaza.

Two Israeli civilians have been killed by fire from Gaza since the offensive began.

The total number of Israeli soldiers killed since the start of the military assault stands at 32. One more soldier has been listed as missing and is believed to be dead.

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Higher sales to the central bank on Sunday to 140 million dollars

Sales of the Iraqi Central Bank, Sunday, a rise of 140 million dollars, through the participation of 14 banks in an auction today.

The bulletin indicated that the special auction today and received the Agency for News News (et) a copy of the session saw a rise in sales of the bank for up to 140 000 598 thousand dollars, were covered by the bank at an exchange rate basis was 1166 dinars to the dollar, compared to the day on Saturday, which Sales amounted to a 94.00041 million thousand dollars.

And the distribution of demand by 89,000,723 thousand dollars in the form of remittances and 61% for the remainder of $ 50 million 1.875 million in cash, was to cover all the demand by the bank in full, and the exchange rate was 1179 dinars per dollar, including the bank’s commission of 13 dinars per dollar, While he did not make the banks participating in the auction 14 CBI any offers to sell the dollar.

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Higher sales to the central bank on Sunday to 140 million dollars

Sales of the Iraqi Central Bank, Sunday, a rise of 140 million dollars, through the participation of 14 banks in an auction today.

The bulletin indicated that the special auction today and received the Agency for News News (et) a copy of the session saw a rise in sales of the bank for up to 140 000 598 thousand dollars, were covered by the bank at an exchange rate basis was 1166 dinars to the dollar, compared to the day on Saturday, which Sales amounted to a 94.00041 million thousand dollars.

And the distribution of demand by 89,000,723 thousand dollars in the form of remittances and 61% for the remainder of $ 50 million 1.875 million in cash, was to cover all the demand by the bank in full, and the exchange rate was 1179 dinars per dollar, including the bank’s commission of 13 dinars per dollar, While he did not make the banks participating in the auction 14 CBI any offers to sell the dollar.

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BRICS sign deal to create development bank

The BRICS group of emerging powers have launched a $ 50bn development bank to be based in the Chinese city of Shanghai, according to a joint declaration.

The bank will have an initial subscribed capital of $ 50bn followed by an authorised capital of $ 100bn, equally shared among the BRICS members – Brazil, Russia, China, India and South Africa.

The New Development Bank’s first president will be from India while the board’s chairman will be Brazilian, according to the declaration released at a summit in Fortaleza, Brazil.

Tuesday’s deal was reached after intense last-minute negotiations to settle a dispute between India and China over the headquarters of the new bank.

Brazilian President Dilma Rousseff said setting up the currency reserve was a priority for the countries to protect themselves from crisis scenarios: “It will be a kind of security net to increase protection for BRICS countries as well as other countries. It’s a question of our security.”

The other four leaders present were Russian President Vladimir Putin, Chinese President Xi Jinping, Indian Prime Minister Narendra Modi and South African President Jacob Zuma.

The bank and fund are seen as counterweights to the Western-dominated World Bank and International Monetary Fund, which BRICS nations say need more reform to give emerging nations more voting rights.

India’s presidency of new BRICS bank will be for five years, according to the Reuters news agency. Reports say that no decision has been made yet regarding which country will hold next presidency.

The bank is expected to make its first loan in 2016.

The BRICS countries have a shared desire for a bigger voice in global economic policy.

They now account for 21 percent of global economic output and have contributed more than 50 percent of world economic growth in the past decade.

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AL JAZEERA ENGLISH (AJE)

Central Bank issued Services (Visa card) to reduce the phenomenon of carrying cash

Follow-up – and babysit – Central Bank announced the issuance of a system of electronic payment services for money (Visa card) to reduce the phenomenon of pregnancy and money circulation.

According to a statement of the bank, “the aim of developing financial and banking sector in Iraq and reducing the phenomenon of pregnancy and trading coins and create an atmosphere of competition between financial institutions through the provision of banking services Bank has adopted a new version of e-payment of funds.”

“The new system will organize the work of providers of payment services and licensing them have been published in the Gazette of the Iraqi issue No. (4326) of 23 June 2014.” Q, Q

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Japan’s Bank Lending 2.3% vs. 2.2% forecast

Investing.com – Japan’s bank lending remained unchanged unexpectedly in the last quarter, official data showed on Monday.

In a report, Bank of Japan said that Japan’s Bank Lending remained unchanged at a seasonally adjusted annual rate of 2.3%, from 2.3% in the preceding quarter.

Analysts had expected Japan’s Bank Lending to fall to 2.2% in the last quarter.

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Despite of militant insurgents, governor of Central Bank of Iraq assured support for Iraqi Dinar

[unable to retrieve full-text content]Iraq and the GCC in particular and the Arab countries and Middle Eastern generally need to work doubly to stop the process of money laundering and financing of terrorism because there are a lot of gaps that must be bridged.
Dinar Daddy’s Tidbits

Bodies of missing settlers found in West Bank

Tel Aviv — The Israeli army has recovered the bodies of three teenage settlers who went missing in the West Bank earlier this month, triggering fears of a broader military crackdown in the occupied territories.

The bodies of the settlers were found in a field near the village of Halhoul on Monday, not far from where Israeli troops first started searching after they vanished on June 12.

The Israeli army responded to the discovery of the bodies by launching at least two dozen airstrikes across the Gaza Strip on Tuesday.

The trio were hitchhiking home from a religious school in Kfar Etzion, an illegal settlement between Bethlehem and Hebron, and were last heard in a brief emergency call to police.

Their disappearance set off the largest military operation in the West Bank since the end of the second intifada: More than 400 Palestinians were detained in the 18-day search, thousands of homes raided, and five people killed by Israeli gunfire.

Hamas blamed

Israel has blamed Hamas for the murders, though it has offered no evidence to support that claim.

On Monday night it demolished the homes of Marwan Qawasmeh and Amer Abu Aisha, two Hebron-area residents who the Israeli government has named as suspects.

The use of punitive demolitions revived a practice that was almost entirely discontinued in 2005.

The Israeli security cabinet also held an emergency meeting on Monday night, which ended with no major decisions on further actions, according to a government source. The cabinet will reconvene on Tuesday.

Some politicians have called for harsher steps against Hamas, including targeted assassinations. “I don’t know how many leaders of Hamas will remain alive after tonight,” Tzachi Hanegbi, the deputy foreign minister, told reporters.

“Hamas is responsible, and Hamas will pay,” Prime Minister Benjamin Netanyahu said in a statement.

The group dismissed the accusations in a statement, calling them propaganda. “We warn Israel against any stupid action. If Israel wants a war, the price they will pay will be greater than in previous wars,” it said.

The settlers’ bodies were found at a time of heightened tensions in the south, with daily airstrikes and rocket launches, and Israeli troops preparing for a possible military offensive. In conversations over the past two weeks, security officials have hinted at “retaliating” against Gaza if the trio were found dead.

The Palestine Liberation Organisation’s Hanan Ashrawi told Al Jazeera that the “Israeli escalation already took place, and now they have an excuse of further escalation.”

Hundreds of people gathered in Tel Aviv’s Rabin Square on Monday night to hold a sombre vigil for the trio. The mood was far more angry in the West Bank, though, and there were reports of Israeli settlers attacking Palestinians in several villages.

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AL JAZEERA ENGLISH (AJE)

Fierce West Bank battle over missing teens

Israeli soldiers have clashed with Palestinians during an arrest raid in the fiercest confrontation so far in the week-long search for three missing Israeli teenagers in the occupied West Bank.

Hospital officials said on Thursday three Palestinians suffered bullet wounds in the overnight clashes in Jenin. There were no reported Israeli casualties.

The Israeli army said in a statement that about 300 Palestinians took to the streets when the soldiers entered the city at about 2am local time. The military claimed they were attacked with explosives, rocks and gunfire.

“The soldiers responded with live fire, identifying hits,” the statement said, adding that 30 “terror suspects” were detained in West Bank, bringing to 280 the number of Palestinians taken into custody over the past week.

The Reuters news agency photographers in Jenin heard heavy gunfire during the night but were kept away from the scene of the clashes by the Israeli army.

Alleged abductions

Gil-Ad Shaer and US-Israeli national Naftali Fraenkel, both aged 16, and Eyal Yifrah, 19, disappeared last Thursday as they were hitchhiking near a Jewish settlement.

Since then, Israeli raids have spread from house-to-house searches in Hebron to raids across the West Bank of institutions believed to provide funding and other support for Hamas that Israel accuses of the abductions.

At Bir Zeit University, near the Palestinian town of Ramallah, Israeli soldiers on Thursday seized Hamas posters and flags from a student group affiliated with Hamas.

The military said that so far, soldiers had searched about 900 locations. There has been no word from the missing teens nor any public claim of responsibility or ransom demands – including by Hamas. Hamas however has not issued any denial of involvement.

Western-backed Palestinian President Mahmoud Abbas roundly condemned the kidnappers on Wednesday and promised to hold to account those responsible.

His words in turn were denounced by Hamas and other factions, who accused him of betraying the national cause.

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Central Bank warns citizens to avoid Basra International Bank for Investment

On Wednesday the Central Bank of Iraq issued a warned citizens against dealing with Basra International Bank for Investment, noting that the bank has been ordered to cease all banking activities.

A Central Bank of Iraq representative said that “the citizens mustn’t accept any act issued by the Basra International Bank for Investment due to an order to cease and desist from all its banking business activities.”

A Central Bank of Iraq statement said that “the bank had previously put under receivership based on the decision No. 1485 of the Central Bank of Iraq in June 2012 in accordance with the Article No. 69 of the Banking Act of 2004.”

The Central Bank of Iraq had already imposed trusteeship, on June 6, on Economy Bank for Finance and Investment, the formation of committees of trusteeship will be composed of three people for a period of 18 months, subject to extension, it’s Mission preparing a report on the financial situation and the future prospects of the bank.

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Asia stocks mixed after World Bank cuts global forecast

Investing.com –

Investing.com – Asian stock markets were mixed on Wednesday, as sentiment was dampened after the World Bank cut its global growth forecast for this year.

During late Asian trade, Hong Kong’s Hang Seng dipped 0.35%, China’s Shanghai Composite eased down 0.02%, Australia’s SP/ASX 200 closed 0.29% lower, while Japan’s Nikkei 225 ended up 0.5%.

The World Bank lowered its global growth forecast to 2.8% from an earlier estimate of 3.2%, citing weaker than expected growth in the U.S., Russia and China.

Markets in mainland China and in Hong Kong edged lower following the previous session’s strong gains. The Hang Seng pulled back from the highest level since January amid concerns over high valuations.

Meanwhile, in Australia, the ASX/200 Index fell from the previous session’s one-week high, while the Australian dollar rose to a four-week high against the greenback.

The Aussie strengthened to 93.89 U.S. cents, the most since May 15, from 93.68 cents in the prior session.

Elsewhere, in Tokyo, the Nikkei bounced off the previous day’s one-week low, with momentum subdued following a lackluster session on Wall Street. Profit taking sent U.S. stocks edging lower on Tuesday after investors locked in gains from last week’s upbeat U.S. jobs report.

Looking ahead, European stock market futures pointed to a lower open. The Euro Stoxx 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 dipped 0.2%, London’s FTSE 100 indicated a decline of 0.2%, while Germany’s DAX slumped 0.1%.

Across the Atlantic, U.S. equity markets also pointed to a weaker open. The Dow pointed to a loss of 0.1%, the SP 500 dipped 0.1%, while the Nasdaq 100 indicated a decline of 0.1%.

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Asia stocks mixed after World Bank cuts global forecast

Investing.com –

Investing.com – Asian stock markets were mixed on Wednesday, as sentiment was dampened after the World Bank cut its global growth forecast for this year.

During late Asian trade, Hong Kong’s Hang Seng dipped 0.35%, China’s Shanghai Composite eased down 0.02%, Australia’s SP/ASX 200 closed 0.29% lower, while Japan’s Nikkei 225 ended up 0.5%.

The World Bank lowered its global growth forecast to 2.8% from an earlier estimate of 3.2%, citing weaker than expected growth in the U.S., Russia and China.

Markets in mainland China and in Hong Kong edged lower following the previous session’s strong gains. The Hang Seng pulled back from the highest level since January amid concerns over high valuations.

Meanwhile, in Australia, the ASX/200 Index fell from the previous session’s one-week high, while the Australian dollar rose to a four-week high against the greenback.

The Aussie strengthened to 93.89 U.S. cents, the most since May 15, from 93.68 cents in the prior session.

Elsewhere, in Tokyo, the Nikkei bounced off the previous day’s one-week low, with momentum subdued following a lackluster session on Wall Street. Profit taking sent U.S. stocks edging lower on Tuesday after investors locked in gains from last week’s upbeat U.S. jobs report.

Looking ahead, European stock market futures pointed to a lower open. The Euro Stoxx 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 dipped 0.2%, London’s FTSE 100 indicated a decline of 0.2%, while Germany’s DAX slumped 0.1%.

Across the Atlantic, U.S. equity markets also pointed to a weaker open. The Dow pointed to a loss of 0.1%, the SP 500 dipped 0.1%, while the Nasdaq 100 indicated a decline of 0.1%.

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Economy Bank under guardianship

Aggiedad77    Article “Iraqi Central Bank puts the economy for investment under guardianship”

The CBI as previously announced has put the Economy Bank for Investment and Finance under guardianship…..much like they did to Warka a couple of years ago…..they will be inventorying the banks assets in efforts to keep the bank solvent at this time and help them to return to strong leadership…..

the CBI will aid in managing deposits as well as making payments on debts….sounds sort of like a child that has to come home and live and let Mom pay their bills and balance their check book….if there are insufficient funds to operate the bank the CBI will liquidate the bank after a final meeting with customers.

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Central Bank allows companies to buy the dollar conversion directly

Baghdad – and babysit – Central Bank of Iraq for money transfer companies get approval to buy the dollar directly.

A statement from the bank said that “The Board of Directors of the Iraqi Central Bank decided to allow the money transfer companies bought the dollar to cover the direct transfers and cash, in accordance with the mechanics of which were announced without the need to center banks,” … p / i

LINK

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Israel ‘suspends’ soldier over W Bank deaths

Israel’s army has suspended a non-combat soldier seen firing his weapon during clashes in the West Bank earlier this month in which two Palestinian teenagers were killed, Haaretz newspaper reported.

The report published on Thursday came amid a military police investigation into footage from two CCTV cameras that appeared to show the shooting of the two teens was unprovoked, taking place during a lull in the clashes.

The shooting took place during a day of protests on May 15 as Palestinians marked the “Nakba”, or catastrophe, of Israel’s establishment in 1948.

Haaretz said the soldier had been spotted on CNN footage released last week, firing “what appeared to be a rubber bullet” at around the same time the first of the two teenagers was shot.

But it said there was no proof his shot was responsible for killing of Musaab Nuwarah. ”The IDF has found no evidence proving that this soldier’s bullet caused Nuwarah’s death,” it said.

The paper said the suspended soldier was a member of the army’s communications division, a non-combat unit. Such troops, it said, were not permitted to fire unless attacked themselves.

An Israeli army spokesman refused to comment on the report, only saying “the military police investigation is ongoing”.

Video shows fatal shooting of Palestinians

In the CNN footage, a group of five or six border police officers in dark grey fatigues and helmets with visors can be seen milling around behind wall in the town of Beitunia, southwest of Ramallah.

In a 13-second clip focused on them, a soldier in green fatigues is seen kneeling behind the wall, aiming his rifle.

A first shot appears to be fired by a border policeman standing among the group, then 10 seconds later, the kneeling soldier also appears to fire a shot.

Immediately after the second shot, one of the border police is seen taking the weapon from the soldier and the camera quickly pans round to show Palestinians carrying the teenager to an ambulance.

According to the CCTV footage, the two teens were shot in the same location but there was an hour and 13 minutes between the two incidents.

Palestinian medics have said both were killed by live bullets, but the Israeli army has denied live fire was used at the scene.

413

AL JAZEERA ENGLISH (AJE)

Pope Francis Arrives In West Bank

Pope Francis has landed in the occupied West Bank at the start of a two-day tour of the Palestinian territories and Israel.

Francis flew straight by helicopter from Jordan to Bethlehem on May 25, becoming the first pontiff to travel directly to the West Bank rather than enter via Israel.

The Pope is due to celebrate an open-air Mass in Bethlehem’s Manger Square, close to where Christians believe Jesus was born.

He is also due to visit a nearby Palestinian refugee camp.

Later, Pope Francis will travel to Tel Aviv and then Jerusalem where he will meet Bartholomew I, the Orthodox Patriarch of Constantinople.

On May 24 in Jordan, the first stop of his Middle East tour, Francis called for a “just solution” to the conflict between Israel and the Palestinians. 
 

Based on reporting by AFP, Reuters, and AP

Radio Free Europe / Radio Liberty

KRG : revenues of oil exported by Kurdistan deposited in Turkish bank .

Arbil / Nina /– Kurdistan Regional Government announced that oil revenue exported by Kurdistan to Turkey will be deposited in Turkish Khaq bank .

A statement by the provincial government , today said : ” Kurdistan region’s oil exports started from Turkish port of Ceyhan .

The Turkish Energy Minister Taner Yildiz announced that Kurdistan region of Iraq began selling the first shipment of crude oil through the Turkish port of Ceyhan on the Mediterranean. / End

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Predictions of US Bank criminal charges next week

Camdoc: Bix Weir predicts first large US Bank criminal charges next week.

Watch for the first criminal charges against a large bank to hit next week. This will open the flood gates once again so be ready.

As for gold and silver…they will fly when the US Treasury decides to let them go. Many think that time will NEVER come but remember – the US is looking after our own best interests and destroying the global fiat monetary system will destroy our BIGGEST problem….DEBT!

This is the unspoken secret in Central Banking and why the United States will NOT lose it’s economic power to China or Russia or any other country that holds fortunes in fiat money. Let me say that again: The United States will not lose as many smart economists are predicting.

Remember this famous quote that US Treasury Secretary John Connally told a group of European bankers as we were going off the Gold Standard in the early 1970′s…

“The Dollar may be our currency, but it’s your problem.”

May the Road to Roota you choose be the Right Road.

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Industrial Bank: Loans granted to Iraqi farmers

Shafaq News / Industrial Bank affiliated to the Ministry of Finance called on Saturday, residents wishing to obtain a loan of 15 million dinars to review its branches in Baghdad and the provinces.

A source at the bank said in a statement reported for ” Shafaq News ” , that he calls ” citizens wishing to obtain a loan of 15 million dinars to review its branches in Baghdad and the provinces ,” noting that “the initial review is for the purpose of knowing the required conditions for the promotion of the papers of receiving these loans .”

He added that ” the bank granted loans in the last term to 768 citizens,” adding that ” the total amount of these loans amounted to 25,339,700,000 dinars.”

“The bank will continuously grant loans to all citizens in accordance with the developed mechanisms and controls by taking into account reducing the red tape ” , pointing out that ” a system of control and inspection has been found for the purpose of follow-up granted credits and the preservation of public money by giving those loans .”

It is worth mentioning that a large proportion of Iraqis need to activate the loans granted to them and facilitate the procedures for paying and reduced benefits because of their need for a wide range of services that lacked it for decades , of the priorities of those needs are the construction of residential buildings or establishing small projects that will sustain their livelihood properly , according to specialists .

LINK

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Bank Story

DW941: Personal friend and Private banker!

Ok, I mostly lurk and really do not say much but I feel this is worth bringing to the Family!! Over 6 mos ago I brought this GCR to her attention, she was stunned at the fact that this was taking place knowing nothing about it! She had no knowledge and had not even heard the term Delarue used for a currency counter, over the past few months she has mentioned very quietly a few emails floating around about the Dinar and Dong! Very guarded with the info.

On Monday last week I scheduled an appointment to speak with her about opening an account with WF specifically for the exchange money! Not only was this account opened it was also explained to me where the exchange would take place (Private Bank) but also that there would be a team of about 8 people there to assist as well as herself! There was also comments made about things she has been told she cannot discuss. I don’t know about the rest of you but really gave me some encouragement and I hope does you too!

Keep the faith everyone we are close!

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Bank Story

DW941: Personal friend and Private banker!

Ok, I mostly lurk and really do not say much but I feel this is worth bringing to the Family!! Over 6 mos ago I brought this GCR to her attention, she was stunned at the fact that this was taking place knowing nothing about it! She had no knowledge and had not even heard the term Delarue used for a currency counter, over the past few months she has mentioned very quietly a few emails floating around about the Dinar and Dong! Very guarded with the info.

On Monday last week I scheduled an appointment to speak with her about opening an account with WF specifically for the exchange money! Not only was this account opened it was also explained to me where the exchange would take place (Private Bank) but also that there would be a team of about 8 people there to assist as well as herself! There was also comments made about things she has been told she cannot discuss. I don’t know about the rest of you but really gave me some encouragement and I hope does you too!

Keep the faith everyone we are close!

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Central Bank Governor: private banking sector in Iraq has seen little growth

The governor of the Central Bank and the Agency Abdul Basit Turki Saeed, Sunday, that the private banking sector in Iraq has seen little growth over the past decade.

He said Turki said that “private banks in Iraq did not work as a sector integrated during the past 10 years, but I just tried to take advantage of the opportunities of the Iraqi Central Bank in its daily auction,” noting that “the work of the banking system in a simplified lies role in the receipt of individual savings and secured to the investor Mini ( credit + loans) in addition to the normal role of banks to provide the necessary funds for investments. ”
He added that “some of these banks rely in this way depends on what most of the banks of the profits achieved Mnamilit buy foreign currency at the central bank auction daily, while other banks adopt my game so-called letters of guarantee to increase its capital.”
He pointed out that “the central bank since 2013 and has tried to reduce this effect, and the adoption of recommendations to support the role of the president of the private banks on credit and loans to the private banking sector to move forward.”
It is noteworthy that many officials are demanding the private banking sector to give special attention to the growth of investment and the country’s economy in general.

LINK

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The Central Bank has printed currency notes of small groups and also large groups

4-24-2014 Millionday: Article: “The Central Bank’s Treasury Director Ihsan Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars.” this is not the release of the coins and the small denoms but is obviously a huge sign they are back from the printer and done also – they are for trade business…this is huge when you think about the major bank issues we have been seeing with no currency and citizen complaints – also huge because it is on the streets — large denoms we knew they printed. [also, why give a note that is worth only $ 0.21 security features?] bingo. this has NOW BEEN IDENTIFIED TO BE ONE OF THE STEPS CBI/TURKI SAID WE WOULD SEE FOR THE ACTIVITY OF THE ACTIVATION OF THE MONETARY POLICY — AN IDENTIFIED STEP.

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Bank Story

Iko Ward:    WF info as of 04.22.04. Spoke to my wealth manager. I went in to set up my primary VNN and IQN accounts instead of waiting for the appointment. I asked her direct questions about the exchange. They have had meetings. They will only be doing retail level exchanges at our area currency exchangers (4 locations. I am NW of Philadelphia).

I will be passed on to the WF Private Banking subsidiary after my initial exchange. She knew nothing of contract rates. I will still have my everyday money at the local branch. She asked how much I had. I told her it was best not to answer. This was all she was allowed to say.

What was different this time is she was rehearsed, no hesitation, clearly there has been some training and since she is on the fast track in their wealth management division she was towing the line. She also told me the guy I had been dealing with on the next level up would tell me the exact same thing, and that he was being promoted.

I take all this as simple evidence of the pending event. All of us, me included, go through the worst case scenario, but conversations like this help me stay level headed.

Whatever bozo said something about two years this week pushed my buttons, but then I went down my checklist of how does that make sense? (a permanent saying now in my list of ten things to say) which always calms me down.

I still plan on the international rates, but have also planned scenarios for the contract rates. Whatever the case, I am wealthy.

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Kaperoni talks about a large CBI bank deposit.

Iraq-Banking-Weakened

Kaperoni Article: “Central Bank: 70 trillion dinar bank deposits” This is a huge article…think about it…if the CBI’s plan was to reduce the money supply they are announcing today that 70 trillion dinar sits in banks. The choice will be..loan it out or reform the currency and raise the value of the dinar. Now is the time with all this dinar out of circulation.

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Bank Story

PassionBee: Chase Bank: I went to a chase bank in Texas today to speak with a wealth manager. They told me that they did not have a wealth manager at that location, but they will have one to come to that location and speak with me.

I told them I am coming into an inheritance and was told to speak to a wealth manager. They wanted to hook me up with a financial advisor but I told them a wealth manager. They ask me how much are we talking about. I told them I didn’t know for sure yet.

I ask the manager whom I was speaking with if she was aware of the foreign currency revaluation and she said yes and their bank is one that will be doing exchanges.

She also said that since they work for the bank that they couldn’t buy any currencies because they know when currencies goes up and down and it is illegal for them to purchase any currencies.

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Iraq to ask world bank for loan.

Tomorrow’s Press / Baghdad: Minister of Finance Agency purity of net debt, Sunday, that Iraq is preparing to offer a program of the World Bank purports it to get a loan to bridge the shortfall in the budget for the current year, while noting that there are talks with the bank to provide financial liquidity for projects in the absence of provided by the government.

Safi said for “tomorrow’s Press,” that “there is a possibility that facing liquidity difficulties as a result of the deficit of significant progress in the current year’s budget will affect the continued operation of the strategic projects carried out in Iraq,” noting that “Iraq will progress during the spring meetings of the IMF and World Bank international meeting held in Washington DC, a program of the World Bank for a loan to fill this deficit. ”

He added that “there are talks with the World Bank for the possibility of providing financial liquidity for projects if they are not provided by the government.”

It is noteworthy that there are differences between the governments in Baghdad and Erbil on some items of the law of the federal budget for the current year related to the export of obsolete oil province of Kurdistan and Iraq have caused these differences to disrupt the law was passed

LINK

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Bank of Japan board March minutes show agreement easy policy working

Investing.com –

Investing.com – Minutes from the March meeting of the Bank of Japan board showed members shared the view that the effects of the aggressive easy policy launched in April 2013 are steadily working, according to text released on Friday.

The nine board members “expressed the view that it was appropriate for the BOJ to continue to steadily pursue quantitative and qualitative monetary easing in accordance with the current guidelines, as Japan’s economic and priced evelopments had been broadly in line with the forecasts presented in October 2013,” the minutes showed.

The March meeting minutes indicated that the policymakers don’t see an imminent need for additional easy policy, although market players are betting on additional monetary easing in the coming month.

There was agreement that that real interest rates are falling on the back of a rise in inflation expectations, the minutes also showed.

But one member questioned the expectations for the policy

“If a rise were to occur in markets’ anticipation that quantitative and qualitative easing would continue for a protracted period or extreme additional measures would be implemented in a situation where it was unlikely that the price stability target would be achieved in about two years, this could lead to economic instability in the medium to long term, such as through a buildup of financial imbalances,” they showed.

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Bank of England holds key rate at 0.50%, QE unchanged at £375B

Investing.com –

Investing.com – The Bank of England kept the benchmark interest rate on hold and announced no change to its asset purchase facility program, it said on Thursday.

The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely anticipated move. The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at 375 billion.

Following the announcement, the pound was little changed close to four-and-a-half year highs against the broadly weaker dollar, with GBP/USD trading at 1.6785.

Meanwhile, European stock markets remained mixed to lower. London’s FTSE 100 was up 0.22%, the DJ Euro Stoxx 50 was down 0.20%, France’s CAC 40 dipped 0.02%, while Germany’s DAX edged up 0.09%.

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Bomb explodes outside Greece’s central bank

A car bomb has gone off outside a Bank of Greece building in central Athens, smashing windows in nearby shops but causing no injuries, police and witnesses say.

The blast on Wednesday struck hours before Greece planned its first foray into the international bond markets since it plunged into a debt crisis four years ago, and a day before a visit by German Chancellor Angela Merkel.

A police officer, spealing on condition of anonymity, told Reuters news agency that someone had anonymously warned a newspaper of the attack about 45 minutes before the explosion just before 6am local time.

The caller said the device contained about 70kg of explosives.

There was no immediate claim of responsibility, but police believed leftist or anarchist groups were behind it, the official said.

Witnessess saw debris strewn across the street in a busy part of the capital lined with banks, shops and a mall.

Makeshift bomb and arson attacks have escalated since Greece adopted unpopular austerity measures in exchange for financial bailouts by the European Union and International Monetary Fund in 2010.

Small-scale attacks against politicians, journalists and businesspeople are frequent in Greece.

179

AL JAZEERA ENGLISH (AJE)

Mysteries and Secrets of the exclusion of al-Maliki to head the central bank

Informed sources revealed the reasons for the exclusion of Iraqi Prime Minister Nuri al-Maliki to head the central bank Abdel Basset Turki.

The sources said that Iraqi politicians in the government of Nouri al-Maliki have significant financial transfers abroad in the recent period, according to the agency “right.”

The sources close to the director of the Central Bank of Abdel Basset Turki said the bank continued to transfers of up to millions of dollars by people close to Prime Minister Nuri al-Maliki.

She explained that the conversion points distributed among the United Kingdom, Scotland, Ireland, the Netherlands, Denmark, Sweden, Canada, and the United States of America, United Arab Emirates.

He has dismissed the director of the Central Bank of Abdel Basset Turki, putting his place “on the Keywords”.

Has raised the dismissal of the President of the Central Bank before the start of the election campaign debate about the secrets of matter.

He sought to keep his job in every way, despite the big differences that are shaking the country after he entered the conflict with al-Maliki in different directions almost.

LINK

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Is Iraq’s Central Bank Buying Gold?

Central banks are still adding gold bullion to their reserves and the smaller countries are getting into the act big-time.

According to the International Monetary Fund (IMF), in the month of March, Iraq’s central bank added 36 tonnes of Gold bullion to its reserves—worth about $ 1.5 billion. This is the first purchase by the central bank since August of 2012, when it bought 23.9 tonnes of gold. (Source: Reuters, March 25, 2014.)

Sure, you could say, “Michael, 36 tonnes of gold bullion is nothing for a central bank.”

I agree. But looking at the bigger picture, it is very significant for a small country like Iraq—a country whose annual gross domestic product (GDP) is smaller than Amazon.com’s sales for 2013—to be getting into gold bullion in a big way. The official announcement from the central bank of Iraq sent the message that it bought the gold bullion to stabilize the country’s currency and add insurance to their reserves.

Since 2009, central banks around the global economy have become net buyers of gold bullion, and I don’t think they will stop anytime soon. The main reason for this is that the central banks see a significant amount of volatility coming to the world of paper currencies—something they hold in their reserves.

Too many major world currencies are in a downtrend. The U.S. dollar has been on a decline since the beginning of 2014. The Canadian dollar is hitting multiyear lows. The Japanese yen has been plummeting.

Where do we go next with gold bullion?

At present, the amount of negativity towards gold bullion is immense. But the fundamentals paint a different picture. Central banks around the world (especially China) continue to be major buyers of gold bullion, as do private individuals. This year, world gold production will decline as gold companies have slashed their exploration budgets and shut down low-grade, cost-ineffective mines.

Looking at the fundamentals, how can I not be bullish on gold bullion?

Irrational, maybe even manipulated, gold prices have resulted in the stocks of many well-managed gold companies selling at prices we have not seen in years. I see the shares of quality gold producers as an opportunity for investors to practice the old adage of “buy low, sell higher later.”

LINK

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Central Bank calls on citizens to “maintain” the cleanliness of banknotes

Called on the Central Bank of Iraq, on Monday, citizens to “maintain banknotes local and not exposing them to write and seals and signatures,” promised that “damaging the general appearance” of the banknote, and as pointed out that “Enter the mechanization of modern and sophisticated” operations counting banknotes, He stressed that these devices require a “clean sheet of cash does not carry any damages.”

He said the Iraqi Central Bank in a press statement received (range Press) a copy of it, “The Central Bank calls on citizens to maintain banknotes local category (two hundred and fifty, five hundred, a thousand, five thousand, ten thousand, twenty five thousand) dinars.”

He called Bank of citizens “not to expose these securities to any damages such as writing or seals or symbols or signatures,” attributing the cause to be “without prejudice to the general appearance of the banknote because of civilization of the Iraqi dinar.”

And between the central bank in its statement that “other reasons which called for the bank to keep the paper local is admitted to the mechanization of modern and sophisticated counting and sorting operations for those banknotes,” explaining that “these devices require the presence of a banknote clean not afford any damage to its promise.”

It is noteworthy that Iraq adopted, after 2003, in his dealings with currency cash has editions in European countries instead of the previous currency, which was in place in the nineties of the last century, which was reprinted at the time of printing presses local because of the sanctions imposed on Iraq, and was characterized by rapidly damage and lack of recognition International them.

There are currently in Iraq six categories of currency is the two hundred and fifty dinars and five hundred thousand dinars and the dinars and five thousand and ten thousand dinars dinars twenty five thousand dinars.

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Central Bank raises for the protection of Iraqi funds abroad

Follow-up / newspaper probity – witness the next date of 5/22/2014 change economically and strategically a lift protection for Iraqi funds deposited in banks in the United States.

Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh: “It’s (22 May 2014), will raise U.S. protection for Iraqi funds deposited in the” Development Fund for Iraq, “and will receive the responsibility of the Iraqi Central Bank directly, after the withdrawal of Iraq from Chapter VII in (27 June 2013). ”

He stressed that: “Deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank and the U.S. is a discount of 5% of Kuwait’s compensation in accordance with Section VII imposed by the United Nations against Iraq.” Ended

LINK

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