Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

half past noon in baghdad and no auction posted as of yet...
auction is at 10:30am and to be posted at 11:30am per cbi pdf.

Ashour International Bank opens two branches in Kurdistan
06 March 2007 (Iraq Directory)


Wadee’ Al-Hanzal, board chairman of Ashour International Bank, confirmed that the Kurdistan region, which is considered a promising market for the active investment sectors, can restore an important part of the national capital that left Iraq during the past two years because of the deteriorating security situation, pointing out that Kurdistan region is a point of attraction and an important extension of the neighboring markets, because it is securely stable with incentives to invest.

Al-Hanzal, who returned from a visit to the region during which he opened two branches of Ashour International Bank in each of Erbil and Sulaymaniyah, pointed out that the Iraqi banking sector finds its presence in Kurdistan necessary during the present stage where investment opportunities are active in the region, prompting many Iraqi banks to open branches in the context of wide competition involving many branches of Arab and foreign banks there.

He added that about 10 Iraqi private banks have held consultations in the capital of the region, Arbil, this week; they discussed ways to employ their capital funds, which combined, amount to 500 billion Iraqi dinars in the region which is witnessing a fast growth in different sectors. He expressed his confidence in the future of investment in the region, with the support of the laws adopted there, which provide a good atmosphere for that. He said that the region is very important as an extension of the extensive relations with the neighboring countries, especially Turkey, which is considered to be Iraq’s crossing point to Europe and the world. He expected that the number of Iraqi private bank branches will reach, in the next two years, 50 branches in the province, indicating the growing desire of the sector in developing its activities there in a way that promotes banking competition and access to available investment opportunities. Al-Hanzal pointed out that the difficulties afflicting the sector in Baghdad and other provinces due to the absence of security drove the sector and hundreds of businessmen to stay outside Iraq, which is an exceptional case, but the future foretells of important transformation will be witnessed by the sector at the level of participating in the development of Iraqi economy.

Ashour International Bank opens two branches in Kurdistan | Iraq Updates
__________________

Just wanted to give everyone a heads up (if you don't know already) that Warka will not executing any stock Orders this Wednesday, March 7.
Next chance to pick up shares will be Monday, March 12.
See email below..............


Dear Mr. Xxxxxxx,

Please note that your order will be executed at Monday’s trading session dated 12th of March 2006 as my department will have its meeting with our board of directors this Wednesday.

Once your order has been executed and we have completed our working procedures full details will be provided to you by my ISX department.

Best regards,

Mr I
Manager
International Foreign Relations Dept.

Originally Posted by Adster

Just wanted to give everyone a heads up (if you don't know already) that Warka will not executing any stock Orders this Wednesday, March 7.
Next chance to pick up shares will be Monday, March 12.
See email below..............


Dear Mr. Xxxxxxx,

Please note that your order will be executed at Monday’s trading session dated 12th of March 2006 as my department will have its meeting with our board of directors this Wednesday.

Once your order has been executed and we have completed our working procedures full details will be provided to you by my ISX department.

Best regards,

Mr I
Manager
International Foreign Relations Dept.

Adster: I thought trading days were Monday and Thursday???

Fawzi Hariri, the Iraqi Minister of Industry : Iraq is currently the largest investment center in the Middle East
Source : Radio Sawa-06 / 03 / 2007

Said Fawzi Hariri, the Iraqi Minister of Industry that Iraq is now one of the largest investment center in the Middle East and encouraged each investor Iraqi , Arab and foreign to benefit from the great opportunities available in all fields including industry, agriculture.

Al-Hariri said in an interview with "Radio Sawa" of any contract between the Ministry of Industry and the American Army for the processing elements of the Iraqi army clothing military.

The following is the text of the interview conducted with him on March 5, 2007 :

X-through visit Paul Brinkley, Assistant Secretary of Defense for Iraq, which discuss the new orientation of the industrial renaissance, the the results at this level and in your ministry?

C - I met Mr. Brinkley during his previous visits to Baghdad and during his current visit, we discussed all the issues that are the focus of tour in Iraq.
Mr. Brinkley is the important consideration of the humanitarian support some industrial sectors in Iraq have been diagnosed through the Ministry of Industry a group of companies have also been studying the mechanism of support through the purchase of certain products. We are now in the process of study and debate how to reach this goal.

O-Is Iraqi factories operating at the present time and what these plants?

C-stopped Iraqi industry in 2003 is 1-0 in terms of production, currently at the rate of production plants of Iraq and Iraqi companies is between 20 to 30% and the clear progress in the past three years and that the best proof of the ability of the industry Iraqi and competencies in the re-operation of these plants.
The sectors in which they operate now is the private construction and cement factories, the private sector and pharmaceutical chemical fertilizers and textile sectors.
Generally all sectors currently operating in a certain likely to be low and could be as large.
Our ambition to develop these capabilities in order to reach the high rates of production, and we have plans in this direction.

Question-Is it true that contract has been signed between the Ministry of Industry and the American Army for processing wearing military uniforms?

C-will not happen this decade, we will bring to the Iraqi army clothing and some other equipment, but for the American companies with the tough American private companies given to us by Mr. Brinkley. The examination of some products of leather clothing and miscellaneous clothing and some other products, we expect to obtain some contracts during the month next.
As for dealing with the American army there is anything about this at the present time.

Question-What is the future of the company Alescandron auto especially since there recently for use as a maintenance?

C-there is the capacity and qualifications for manufacturing and for the maintenance of military equipment and civilian. Alescandron stations and one which we are currently pursuing is to maintain the mechanisms of the Iraqi army and Iraqi police. We are ready to provide foreign agencies, including the American companies Pmentjatna We hope to sign contracts in this regard, special attention is Balescandron at the present time.

Question-What message directed to the investor Iraqi, Arab and foreign at this time.

C-Iraq is currently the largest investment center in the Middle East, if not the world, and the proceeds will be very large to each investor is the current situation. We encourage each investor Iraqi, Arab and foreign careful study of the status quo in Iraq and take advantage of the great opportunities available in all spheres. , including industry, agriculture and other areas.

Originally Posted by screwball

Adster: I thought trading days were Monday and Thursday???

Mondays and Wednesdays.

Auction 1279 15 Banks 105.320.000

Announcement No.(877)

D.G. of Foreign Exchange Control

The 877 daily currency auction was held in the Central Bank of Iraq day Tuesday 2007/ 3/ 6 so the results were as follows :

Details Notes
Number of banks15-----
Auction price selling dinar / US $1279-----
Auction price buying dinar / US $----------
Amount sold at auction price (US $)105.320.000-----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $)105.320.000-----
Total offers for selling (US $)----------

This is the fourth largest auction ever:
17.Jan.07 113.245
13.Nov.06 110.265
07.Nov.06 109.105
06.Mar.07 105.320
22.Jan.07 104.240
14.Jan.07 103.410
25.Jan.07 101.510

That's a shiiteload more of dinar pulled out again. Am not convinced they will even reach 1260 by 22/3 at this rate of recent drops, hhmmmmmmmmmm..................

Originally Posted by Adster

That's a shiiteload more of dinar pulled out again. Am not convinced they will even reach 1260 by 22/3 at this rate of recent drops, hhmmmmmmmmmm..................

I agree and still maintain that 1260 is as irrelevant as 1345 was in Dec.