Will The Age of the Dollar Come to an End?

Will The Age of the Dollar Come to an End?

Experts have expected the world to witness the end of the era which the American currency will form the main and basic international financial reserves, following the many calls for disengaging with the American dollar due to its bad condition and consequently more weakness. Pam Wadel from The Economist Magazine has announced the death of the American dollar and the role of the US in the international economy alike, and said that a new world system will come out in which Asia will play the main role in the international economy, describing the present period of the international economy as "A revolutionary period", expecting the year 2030 to witness a unique moment in history, in the since that China, India at that time will be among the first five countries with regard to the volume of economy. She further added: "The International Economy will be run from countries where poverty is prevailing" Wadel has main the connection between what is going on in Asia and the crisis of the American real estate mortgage which she said is because the rising markets have stored their wealth and investments during the last years through buying American bonds which resulted in a pressure against prices of interest and it was reflected also through the form of bubbles in the American financial and real estate markets.

A Cooperation Agreement between Baghdad and Tehran in the Field of Re-Construction

Chairman of Baghdad municipality has signed with the Mayor of Tehran a joint cooperation agreement in the field of reconstruction of the infrastructure in the Iraqi capital, and the joint cooperation in the economic field. A senior Iraqi official said that the two countries have agreed on establishing a joint executive company between Baghdad and Tehran able to carry out projects in the two capitals.

Qatar Looks Forward for Investing in European Banks

The Qatari Prime Minister and Head of the Qatari Investment Commission has said that he prefers to invest in European Banks rather in American ones because the share of the American banks will continue to decline because canceling the assist as a result of the crisis of the real estate mortgage. He concluded by saying that the investment commission is a fund for investing the sovereignty wealth with a volume estimated at $60 bn.

A Tourist Project With 2.5 Billion Syrian Pounds in Damascus

The Syrian Prime Minister laid on Monday the foundation stone of the tourist Telal al Yasmin project in Damascus suburb with a total estimated cost of 2.5 billion Syrian pounds. The project which is considered the first of Palmyra Company for Real Estate Development is on a space area estimated at 193241 square meters and it is a tourist complex with four starts comprising 180 villas, hotels including 450 beds.

Small Indexes

– OPEC said on Monday that the prices of OPEC crude oil have declined by the end of the dealings last week following they reached the highest point by $94.23 on the 20th of February.
– Iranian Chairman of Trade, Industry, and Mining Chamber Mohammad Nahawandian has announced that the Iranian and Moroccan private sectors have agreed on holding the day of the Iranian economy in Morocco next April, and the day of the Moroccan economy in Iran at the same date.

Companies Indexes

– Motorola Electronics Company will provide soon a new mobile phone by the name "Motto U-9" which is characterized by features that make its use comfortable.
– Sources at the giant German company "Siemens for Engineering and Electronic Industries" said that the company intends to cancel about 7000 jobs all over the world within the framework of selling its telecommunications unit SIN.

Bids

– A joint company affiliated by the Egyptian Investment al Qalla Group has acquired a share estimated at 61% of the Egyptian Company for Marketing and Distribution which own the daily Money "Al-Mal" newspaper.
– Boeing Company has signed an agreement with Ra’as al Khimya Airlines Company providing it with four planes of 737-800 model with the right of buying another two airplanes, with costs estimated at $300 m.

Conferences

– The activities of "The First Consulting Meeting for Tourist and Hotel Heads" organized by tourism bureau in the Yemeni EBB governorate have started. It is worth mentioning that the activities will last for two days.