Press Clippings
ASCA 'Jordan' issues IFRSs 2010 .
The Arab Society of Certified Accountants (ASCA) “Jordan” has issued the approved Arabic translation of IFRSs 2010. This publication contains the changes made since 2009 edition and which were included in this edition.
In recognition of the growing size of the contents of this edition; the Bound Volume has been published in two parts. Part A presents the unaccompanied IFRSs and their introductions and explanatory rubrics. Part B contains the accompanying documents, such as bases for conclusions, implementation guidance and illustrative examples.
It also includes the new IFRS 9 “Financial Instruments” issued in November 2009, which is the first phase of the replacement of IAS 39 “Financial Instruments: Recognition and Measurement” in its entirety by the end of 2010. IFRS 9 shall be effective as from January 1, 2013. Earlier application shall be permitted.
ASCA -Jordan continuously seeks to develop both accounting and management sciences as well as all related principles applicable to all or some professional services.
ASCA –Jordan also exerts effort to upgrade the competence, practice and code of ethics according to the highest professional levels through the issuance of accounting publications and following-up on the recent developments in accounting and auditing.
http://www.jordantimes.com/?news=32385
05 Dec 2010
ASCA 'Jordan' Issues IFRSs 2010.
AMMAN: The Arab Society of Certified Accountants "Jordan" has issued the approved Arabic translation of IFRSs 2010. This publication contains the changes made since 2009 edition and which were included in this edition.
In recognition of the growing size of the contents of this edition; the Bound Volume has been published in two parts. Part A presents the unaccompanied IFRSs and their introductions and explanatory rubrics. Part B contains the accompanying documents, such as bases for conclusions, implementation guidance and illustrative examples.
In addition, it includes the following:
• New IFRS 9 “Financial Instruments” issued in November 2009, which is the first phase of the replacement of IAS 39 “Financial Instruments: Recognition and Measurement” in its entirety by the end of 2010. IFRS 9 shall be effective as from January 1, 2013. Earlier application shall be permitted.
• Revised IAS 24.
• Two new interpretations, namely:
- International Financial Reporting Interpretation Committee (IFRIC) 18 “Transfers of Assets from Customers”.
- IFRIC 19 “Extinguishing Financial Liabilities with Equity”.
IFRIC 18 to be applied for the annual periods beginning on or after 1 July 2009. IFRIC 19 to be applied for the annual periods beginning on or after 1 July 2010. In either case, earlier application shall be permitted.
ASCA -Jordan continuously seeks to develop both accounting and management sciences as well as all related principles applicable to all or some professional services. ASCA –Jordan also exerts effort to upgrade the competence, practice and code of ethics according to the highest professional levels through the issuance of accounting publications and following-up on the recent developments in accounting and auditing.
© Press Release 2010
http://www.zawya.com/story.cfm/sidZAWYA20101205095026
05 Dec 2010
ASCA 'Jordan' Issues IFRSs 2010.
(MENAFN Press) AMMAN: The Arab Society of Certified Accountants "Jordan" has issued the approved Arabic translation of IFRSs 2010. This publication contains the changes made since 2009 edition and which were included in this edition.
In recognition of the growing size of the contents of this edition; the Bound Volume has been published in two parts. Part A presents the unaccompanied IFRSs and their introductions and explanatory rubrics. Part B contains the accompanying documents, such as bases for conclusions, implementation guidance and illustrative examples.
In addition, it includes the following:
• New IFRS 9 “Financial Instruments” issued in November 2009, which is the first phase of the replacement of IAS 39 “Financial Instruments: Recognition and Measurement” in its entirety by the end of 2010. IFRS 9 shall be effective as from January 1, 2013. Earlier application shall be permitted.
• Revised IAS 24.
• Two new interpretations, namely:
- International Financial Reporting Interpretation Committee (IFRIC) 18 “Transfers of Assets from Customers”.
- IFRIC 19 “Extinguishing Financial Liabilities with Equity”.
IFRIC 18 to be applied for the annual periods beginning on or after 1 July 2009. IFRIC 19 to be applied for the annual periods beginning on or after 1 July 2010. In either case, earlier application shall be permitted.
ASCA -Jordan continuously seeks to develop both accounting and management sciences as well as all related principles applicable to all or some professional services. ASCA –Jordan also exerts effort to upgrade the competence, practice and code of ethics according to the highest professional levels through the issuance of accounting publications and following-up on the recent developments in accounting and auditing.
http://www.menafn.com/pr/pr_news_story_s.asp?StoryId=1093380482
28 Nov 2010
NEW GLOBAL ECONOMIC CRISIS ALERT .
MANAMA: World economies appear to be recovering from the financial crisis but a much more serious economic crisis is up ahead, warns a business expert.
The new economic crisis is expected to continue for the next 10 years and have a major impact on the West, causing deflation and the bankruptcy of about five Europe countries, said Talal Abu-Ghazaleh.
However, emerging countries such as China and India are expected to flourish and the GCC will see at least 10 per cent growth, he added.
"The world has gone through financial crisis which has almost been contained, but what is much more serious is the economic crisis that is coming," said Mr Abu-Ghazaleh, who is Talal Abu-Ghazaleh Organisation chairman and founder.
"The US has witnessed a 2.5pc growth, so you would say this is nonsense and that the US is back to growth but I think this is due to increased consumer demand because of the liquidity the US government pumped into the market and not representative of a recovery.
"The US and the rest of the developed world are heading for hard economic crisis for the next 10 years.
"It's a structural crisis because the developed countries' structure is wrong and is made worse by the crisis because the private debt has shifted to the government.
"Governments are becoming less able to provide services whether education, health, employment, pensions, etc and unemployment is up.
"We must look at our relations in this context. We must realise we are in a changing paradigm and need a new relations paradigm."
Mr Abu-Ghazaleh was speaking at the Bahraini American Cultural Exchange Society's first Power Hour Speaker Series held at the Movenpick Hotel.
The business expert said the US dollar was expected to devaluate in the coming years and would cease to be used as a reserve currency.
"The future is for US and all Western products to decrease to make them more competitive, so the West is going from inflation to deflation," he said.
Mr Abu-Ghazaleh predicted that five European countries will go bankrupt next year, which will not mean they "close shop" but they will be unable to provide services to citizens.
However, Brazil, Russia, India, China and Korea will grow at a steady rate during the next 10 years, he said.
Africa in 10 years will be on the same economic level as developed countries and become like Europe in 50 years, he added.
He said the GCC region will have more than 10pc growth mainly because of its oil revenues.
"Qatar is already at 20pc growth and next year it predicts 26pc growth," he said.
"The GCC region is one of the beneficiaries of the crisis and has tremendous opportunities ahead to build itself and its infrastructure.
"But if all the oil was exported today it is not enough to make the infrastructure in Europe, so all of these resources will need to be invested.
"All of the Arab world should benefit from the boom in the Gulf and as we have seen investments in the Arab world are the safest."
http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=292669
26 Nov 2010
New Senate appointed, Masri president .
AMMAN (JT) –– A Royal Decree was issued Thursday dissolving the 55-member Upper House as of November 25, 2010. Another decree was also issued appointing the 60 members of the new Senate.
The new number of senators is consistent with the increase in the Lower House seats to 120 under the new temporary Elections Law. The Constitution limits the number of senators to a maximum of 50 per cent of that of House members.
Also Thursday, a third decree was issued reappointing Taher Masri as Senate president, a Royal Court statement said.
The new Senate includes nine women, veteran statesmen, businessmen, academicians, opposition leaders and other members of the political, social and economic elite, according to the list.
The list shows that 28 members remained from the outgoing Senate, while 20 left. Seven members of the chamber have resigned over the past year for different reasons.
The Senate and the Lower House will convene on Sunday after a Royal Decree was issued Monday summoning the 16th Parliament for its opening session, where members of both chambers will listen to the Speech from the Throne.
In a letter addressed to His Majesty King Abdullah, Masri pledged that the Senate will cooperate with the Lower House and with the state authorities and institutions, in line with the Constitution and the laws in effect.
He said senators will work to draw up rules and regulations to facilitate and speed up comprehensive political, economic and social reform.
He also expressed the Senate’s appreciation of the King’s efforts to guarantee significant and effective public participation in decision making, safeguard national unity, improve the living conditions of Jordanians and provide them with security and stability and best services.
List of Senators
Following is the complete list of the members of the Senate:
Taher Masri
Fayez Tarawneh
Abdur-Ra’uf S. Rawabdeh
Marouf Bakhit
Abdul Hadi Majali
Marwan Hmoud
Taher Hikmat
Laila Sharaf
Riad Shakaa
Awad Khleifat
Hamdi Tabbaa
Mohammad Hamdan
Mohammad Sqour
Amin Mahmoud
Tawfiq Kreishan
Abdul Ilah Khatib
Kamal Nasser
Aqel Biltaji
Saleh Qallab
Hatem Halawani
Abed Shakhanbeh
Salah Al Din Bashir
Nabil Sharif
Amal Farhan
Mohammad Ali Alawneh
Sharif Zu’bi
Suhair Al-Ali
Bassem Salem
Hamad Kasasbeh
Maha Khatib
Tayseer Nueimi
Ayman Odeh
Ghaleb Zu’bi
Michel Hamarneh
Umayya Toukan
Daoud Hanania
Khalid Sarayreh
Mustafa Fayyad
Alia Abu Tayeh
Wijdan Saket
Abdul Hamid Shoman
Nawal Faouri
Ahmad Ayed Ajarmeh
Jaafar Hneiti
Abdul Majeed Thneibat
Taher Fawwaz
Nazih Ammarin
Abdullah Habahbeh
Nael Kabariti
Mohammad Roud
Ihsan Shordom
Mahmoud Abbadi
Nirmeen Harbi
Ghazi Jbour
Mahmoud Zghoul
Talal Abu Ghazaleh
Nadim Muasher
Khalid Sharif
Rima Naseef Batshoun
Mazen Darwazeh
http://www.jordantimes.com/?news=32110
23 Nov 2010
Abu Ghazaleh attends Bahrain World Economic Summit.
Talal Abu Ghazaleh, chairman and CEO of Talal Abu-Ghazaleh Organization (TAG-Org), who is also chairman of the United Nations Global Alliance for ICT and Development (UN-GAID), delivered on Tuesday a speech at the Bahrain World Economic Summit, held in Manama. Abu Ghazaleh commended Bahrain’s e-government policy, which ranked first in the Arab world and 13th on the international level.
Abu Ghazaleh called upon stakeholders to participate in GAID annual conference to be held in Abu Dhabi December 5-6 where the MDGs eNabler will be officially launched that was developed by GAID as a GPS for development and was commended by the UN secretary general as it transforms the call for achieving the goals from theory to practice.
http://www.jordantimes.com/?news=32020
23 Nov 2010
Abu-Ghazaleh Congratulates Bahraini E-Government during Bahrain World Economic Summit .
HRH Sheikh Ibrahim Bin Khalifa Al Khalifa Delivers the Opening Speech
MANAMA - November 23, 2010 - Dr. Talal Abu-Ghazaleh, chairman and CEO of Talal Abu-Ghazaleh Organization (TAG-Org), chairman of the United Nations Global Alliance for ICT and Development (UN-GAID), delivered today an opening speech at the Bahrain World Economic Summit, held in Manama under the patronage of HRH Sheikh Ibrahim Bin Khalifa Al Khalifa, Minister of Housing.
Dr. Abu-Ghazaleh congratulated the Kingdom of Bahrain on its E-Government policy which ranked first in the Arab world and 13th on the international level, stating that wise leadership can make many achievements regardless of the size.
GAID Chairman announced that Bahrain has occupied a pioneering role in many fields, such as hosting the African Qualification, Training, and Consulting Center to accelerate the Millennium Development Goals (MDGs).
Abu-Ghazaleh called upon stakeholders to participate in GAID annual conference to be held in Abu Dhabi December 5-6th where the MDGs eNabler will be officially launched and which was developed by GAID as a GPS for development and was commended by the UN Secretary-General as it transforms the call for achieving the goals from theory to practice.
The opening session was attended by Dr. Hashim Suleiman Hussein, head of the United Nations Industrial Development Organization-Investment and Technology Promotion Office (UNIDO-ITPO) in the Kingdom of Bahrain, and Mr. Osama Al-Khajah, Projects Development. manager at Kuwait Finance House in addition to Arab and international experts.
-Ends-
© Press Release 2010
http://www.zawya.com/story.cfm/sidZAWYA20101123084926
23 Nov 2010
Abu-Ghazaleh Congratulates Bahraini E-Government.
Dr. Talal Abu-Ghazaleh, chairman and CEO of Talal Abu-Ghazaleh Organization (TAG-Org), chairman of the United Nations Global Alliance for ICT and Development (UN-GAID), delivered today an opening speech at the Bahrain World Economic Summit, held in Manama under the patronage of HRH Sheikh Ibrahim Bin Khalifa Al Khalifa, Minister of Housing.
Dr. Abu-Ghazaleh congratulated the Kingdom of Bahrain on its E-Government policy which ranked first in the Arab world and 13th on the international level, stating that wise leadership can make many achievements regardless of the size.
GAID Chairman announced that Bahrain has occupied a pioneering role in many fields, such as hosting the African Qualification, Training, and Consulting Center to accelerate the Millennium Development Goals (MDGs).
Abu-Ghazaleh called upon stakeholders to participate in GAID annual conference to be held in Abu Dhabi December 5-6th where the MDGs eNabler will be officially launched and which was developed by GAID as a GPS for development and was commended by the UN Secretary-General as it transforms the call for achieving the goals from theory to practice.
The opening session was attended by Dr. Hashim Suleiman Hussein, head of the United Nations Industrial Development Organization-Investment and Technology Promotion Office (UNIDO-ITPO) in the Kingdom of Bahrain, and Mr. Osama Al-Khajah, Projects Development. manager at Kuwait Finance House in addition to Arab and international experts.
http://www.menafn.com/pr/pr_news_story_s.asp?StoryId=1093378869
10 Nov 2010
AGIP's Executive Director Elected to INTA Board of Directors – Planning Committee .
(MENAFN Press) The International Trademark Association (INTA) Board voted and confirmed on November 10, 2010 the election of Mr. Charles Sha'ban, Abu-Ghazaleh Intellectual Property (AGIP) executive director to a three-year term on the board of the INTA. His term begins on January 1, 2011, making him the only member on the INTA board representing the Arab region.
In addition to voting on the new board members, Mr. Sha'ban was chosen to serve on the Board Planning Committee for the year 2011.
Mr. Sha'ban said: "I am really honoured of the trust bestowed on us; the planning committee is one of the most important INTA board committees that are charged with managing strategic and annual planning for the Association."
AGIP is a member of Talal Abu-Ghazaleh Organization (TAG-Org). Founded in 1972, TAG-Org is an international professional services group, chaired by HE Dr. Talal Abu-Ghazaleh that employs over 2000 professionals and operates out of its 73 offices in the Middle East, North Africa, Pakistan, India, Cyprus, China and Afghanistan.
INTA is a not-for-profit membership association that was founded in 1878, and consist now of 5900 trademark owners and professionals from more than 190 countries, dedicated to the support and advancement of trademarks and related intellectual property elements of fair and effective national and international commerce.
The INTA Board is the policy-setting body of INTA and the advisor to the chief staff executive. Planning committee manages strategic and annual planning for the Association, including: preparation of a strategic plan; defining annual priorities; and monitoring the progress of the Association against such strategic plan and annual priorities.
http://www.menafn.com/pr/pr_news_story_s.asp?StoryId=1093378863
10 Nov 2010
Abu-Ghazaleh Intellectual Property's Executive Director elected to International Trademark Association Board of Directors - Planning Committee .
Mr. Charles Sha'ban, Executive Director, Abu-Ghazaleh Intellectual Property (AGIP)
The International Trademark Association (INTA) Board voted and confirmed on November 10, 2010 the election of Mr. Charles Sha'ban, Abu-Ghazaleh Intellectual Property (AGIP) Executive Director to a three-year term on the board of the INTA. His term begins on January 1, 2011, making him the only member on the INTA board representing the Arab region.
In addition to voting on the new board members, Mr. Sha'ban was chosen to serve on the Board Planning Committee for the year 2011.
Mr. Sha'ban said, "I am really honoured of the trust bestowed on us; the planning committee is one of the most important INTA board committees that are charged with managing strategic and annual planning for the Association."
AGIP is a member of Talal Abu-Ghazaleh Organization (TAG-Org). Founded in 1972, TAG-Org is an international professional services group, chaired by HE Dr. Talal Abu-Ghazaleh that employs over 2000 professionals and operates out of its 73 offices in the Middle East, North Africa, Pakistan, India, Cyprus, China and Afghanistan.
INTA is a not-for-profit membership association that was founded in 1878, and consist now of 5900 trademark owners and professionals from more than 190 countries, dedicated to the support and advancement of trademarks and related intellectual property elements of fair and effective national and international commerce.
The INTA Board is the policy-setting body of INTA and the advisor to the chief staff executive. Planning committee manages strategic and annual planning for the Association, including: preparation of a strategic plan; defining annual priorities; and monitoring the progress of the Association against such strategic plan and annual priorities.
http://www.ameinfo.com/249668.html
