Thread: Iraq/Dinar News. before Febuary 2nd 2006

Originally Posted by Inscrutable

This cant be true, the Kurds would never be the cause of a hold up. Must be smoke and mirrors or smokin something.

I agree but something just doesn't smell right, now.

Originally Posted by opps50

I sent an email to warkaand asked about their opinion of the exchange rate

this is the response

Dear xxxxx,



It is always a pleasure to be of assistance and support. To make things short and simple in my opinion the exchange rate will settle at approximately USD $1=1100 by the end of the year.



Best regards,



Mohammad K. Issa

Manager

International Foreign Relations Dept.

Don't listen to these Warka people. They really don't know what there talking about, and if they did know they are not going to say anything to us over here. They are just trying to be nice to their customers, and give them something. There is no $1=1100 by the end of the year. So much disinformation these days. Everbody knows it's about to happen, that's why Warka a few weeks back was working all kinds of hours of the morning hmmmmm makes you wonder. Trust me. Don't buy it. It's junk. Not long to go...


Rocky.....

Iraqi Minister of Finance Baqer Jabr Al-Zubaydi said the 2007 budget anticipating that it would contribute to achieving economic growth of 8-10% was ambitious, reported Al-Hayat.

Noozz.com | IRAQ

Books : dhrgham on Sunday, January 28, 2007 1:57 PM-BT
A slight decrease in the demand for the dollar
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)

Decreased demand for dollar slightly at the beginning of meetings this week in an auction Iraqi Central Bank registered 99 million and 235 thousand dollars compared to 101 million and 510 thousand dollars last Thursday.
The daily bulletin issued by the Central Bank, and received news agency (Voices of Iraq) independent copy of, that the purchase orders were distributed at 14 million and 915 thousand dollars in cash and 84 million and 320 thousand dollars in the form of remittances outside the country, the Bank has full coverage at the exchange rate amounted to 1292 dinars to the dollar, which is the same rate meeting last Thursday.
The bulletin pointed out that the 16 banks that participated in the auction participated offers for the sale of one million dollars bought by the bank in full at the exchange rate reached 1290 dinars.
He said Mr. Sadiq Abdul Razzaq as far as economic and industrial expert told (Voices of Iraq) that the decline today Was declined morally and practically that high compared to the size of the circulation in the auction is stable in high demand that has been achieved due to exchange rate stability witnessed by the auction now or decline Aunkottin point or three and not more.

Translated version of http://www.aswataliraq.info/?newlang=ara

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Officials deny oil law favoritism

Associated Press
Published January 28, 2007


BAGHDAD -- Iraqi officials deny that a hotly debated proposed oil law would favor Americans but acknowledge that foreign companies would be allowed to take their profits out of Iraq.

Reports in the Middle East said the proposal would provide for so-called product-sharing agreements that would give foreign oil companies 70 percent of the oil revenues to recover their initial investments then allow them 20 percent of the profits with no tax or restrictions on transferring funds abroad.

"Without a decisive military victory, the U.S. occupation of Iraq seems to be about to grab its oil prize by establishing a new sharing arrangement," the English-language Yemen Observer said Saturday, echoing a frequent criticism that the U.S.-led invasion was aimed in part at capturing Iraq's oil.

Iraqi officials denied the proposed law would favor Americans but stressed it would set terms aimed at attracting international funds and know-how. Trade Minister Abed Falah al-Sudani said U.S. companies will be among those bidding for contracts and the Iraqis will "take the best offer ... and take into consideration the experience of the company."

However, Oil Ministry spokesman Assem Jihad said Friday that the measure had been delayed by unspecified "differences among some groups."
Chicago Tribune news | Registration

Iraqi official calls for Iranian investment in infrastructure projects in his country
Ilam, Jan 28, IRNA
Iran-Iraq-Investment
An Iraqi official here Sunday called on Iran's private sector to invest in projects to develop his country's infrastructure.

The consul general of the Iraqi consulate in the western Iranian province of Kermanshah, Riyadh Hassoun, made the call during a meeting with an Iranian delegation comprising representatives of Ilam province's Chamber of Commerce, Industries and Mines.

Iran has a huge potential for providing appropriate services and raising exports of needed commodities to Iraq particularly through border provinces such as Ilam, he said.

He praised the increased security at Mehran international border point and called for an end to the export of non-standard goods to Iraq via this border point.

Iraq welcomes cooperation with Iran in the commercial and economic fields and visits of Iranian pilgrims to Iraqi holy sites as well as efforts to secure its joint borders with Iran, he said.

Hassoun stressed that bilateral relations in the economic, cultural and tourism areas would contribute to strengthening of security and improvement of economic structures of the two states.

The head of the Chamber of Commerce, Industries and Mines of Ilam province, Mohsen Chamanara, expressed the province's readiness to expand its non-oil exports to Iraq via the Mehran international border and strengthen infrastructure of Iraq's border markets.

Ilam, which has a 430-km joint border with Iraq, has become a main gateway for pilgrims visiting Iraqi holy sites and export of Iranian commodities to Iraq due to the province's relatively secure situation and its proximity to Iraq's holy sites, he said.

He urged establishment of an Iranian consulate in Ilam taking into account the trend toward increasing travel by Iranian pilgrims to Iraq and exchange of visits by the two countries' traders.

Iraqi official calls for Iranian investment in infrastructure projects in his country - Irna

Iraq: Ministry of Labor launches small loans program



MENAFN - 29/01/2007




(MENAFN) Officials at the Iraqi Ministry of Labor and Social Affairs said that the ministry has launched a small loans program in order to create job opportunities and reduce unemployment in the war-torn country, Iraq Economy reported.

The first phase of the program, which will start in Babil, Karbala and Mousil, consists of providing small loans to Iraqi youth to help them establish or reoperate small businesses on easy and affordable conditions.

MENAFN - Middle East North Africa . Financial Network News: Iraq: Ministry of Labor launches small loans program

Ministry to hold a fair for Iraqi products in April



MENAFN - 28/01/2007




(MENAFN) Officials at the Iraqi Ministry of Trade announced that the ministry will organize a four-day trade fair for Iraqi products in April, Iraq Directory reported.

The officials added that several companies from both the private and the public sectors will participate in the fair, which aims to reflect the well-being of Iraqi industry in spite of the current unstable security conditions.

MENAFN - Middle East North Africa . Financial Network News: Ministry to hold a fair for Iraqi products in April

Iraqi Ministry of Electricity to supply Baghdad with solar energy



MENAFN - 28/01/2007




(MENAFN) The Iraqi Minister of Electricity announced that the ministry will carry out a project to supply Baghdad with electricity generated from solar energy, Iraq Directory reported.

The minister indicated that the project will include illuminating the city's public squares, bridges and streets with electrical energy generated in solar cells.

He added that his ministry will cooperate with the Ministry of Industry to carry out the next phase of the project which includes supplying Baghdad's residential areas with electricity. He concluded that the Iraqi government welcomes Iraqi investors to take part in the ministry's projects.

MENAFN - Middle East North Africa . Financial Network News: Iraqi Ministry of Electricity to supply Baghdad with solar energy

Quote:
Originally Posted by shotgunsusie
tis indeed a woOt. it says to me that in the days ahead they are going to raise the rate but there will be no announcement or news about it until after they actually do it.

Originally Posted by Dinar-Excited

I totally agree. I think we will know when it is done and not before because to many things change so quickly. I think one of the good tell tail signs that they intend to RV and not do the slow and grow method is why did they not implement the FIL. Because they did not want to RV before they were close on the HCL and that has been delayed for like 3 months so far. They would have implemented it if it did not mean they had to RV. Just a thought.

Dinar-Excited

Sometimes I wonder if the Iraqis are trying to get their name in the Guiness book of world records in the category of stalling and delaying implimentation of laws passed by a soverign nation. How long can they delay implimentation of a law (fil) that they have already passed? Going on 3 months, do I hear 4? How about probably a lot of other bills/laws passed and just sitting there waiting to be implimented? Heck, they couldn't even spend all of the money sitting in their bank accounts that was already approved for reconstruction!!

Now as we approach month 2 out of 12 months in a year, they still haven't passed the "real budget". Of course the news reported they passed the budget last year. We were told it was the largest ever, 41 billion dollars. Then we were told they passed another law that the govt was required to do all of its' spending in dinars. Then we for a short time was told the budget was actually going to be 44 billion dollars. Then we were told they were trying to but haven't been able to pass "the real budget". We've been told that they were on the verge for what 3 weeks now? Then of course there is the hcl law which was supposed to be passed before the end of last year. Then the news media said it was passed. Then the Kurds said oh, no it's not!! And now we wait, and wait and wait.

Meanwhile we investors just sit back and wait 'cause its all we can do (and pray). These Iraqis are their own worst enemy. Forget about Al Keida, Iranians, and the insurgency. They don't need 'em. They have themselves as their own worst enemy. LOL SSSSHHHHEEEESSSSSHHHHH!!!! Would they just do their jobs for once? Hey, Mr. Iraqi politiican, look outside your ivory tower for once. Your countryman are dying out there.

worf