Thread: Iraq/Dinar News until 6/17/07 8:30 PM CST

Completion of a number of investment projects in the Ministry of Labor

And / June 13 / Baghdad / The oversight body in the control and scrutiny of contributions to the retirement and social security for workers of the Ministry of Labor and Social Affairs, a field visit to the social security in the governorate of Missan in order to ascertain the progress of work in the said section.
The regulatory body in a statement issued by the ministry today, Wednesday, on the need to intensify efforts for activating them by the accuracy of the search for projects which could be covered by the social security system, It was to instruct inspection commissions to stabilize real wages for workers according to their own occupations in order to preserve the rights of the workers in addition to the executive committees urged to redouble their efforts to obtain debt service and the reduction of debt accumulation.
On the other hand Section and maintenance projects in the constituency according to the statement on the most important projects being implemented, where the draft rehabilitation and development of Amara in Alshorgh major security has been achieved by 100% The project to establish a tourist hotel security in Najaf has reached proportions which advanced stages of achievement, and by 88%.
As well as the completion of the contract works in the shopping mall in Kirkuk completion rate, which reached 40%, and the draft pool and the Ministry of Labor in Najaf governorate, which accounted for completion by 8%.
It is hoped that work would start the draft by the Ministry of Labor in Khanaqin and Maysan after the completion of the registration of ownership of the land upon which the mentioned projects / / completed / u p / b p / local.

Translated version of http://www.wna-news.com/inanews/news.php?item.4330.5

Vice President receives Tariq Al-Hashmi

Luna / June 13 / BAGHDAD / received by President Jalal Talabani in his house yesterday evening, Tariq Al-Hashmi, Vice President of the Republic.
The Hashemite at the beginning of the meeting, a presentation of the results of the recent Arab tour and the outcome of his talks with Egyptian officials and Sudanese. It was during the meeting to review the overall political situation on the internal arena and attended the meeting Samurai member of the House from the Accord Front Deputy Secretary General of the Iraqi Islamic Party.
The Vice President has also met yesterday, Mr. John Negroponte, Assistant Secretary of State. It was during the meeting reviewed the current political situation, where stressed that the political process are lagging behind and that important issues are still outstanding pending national consensus around The situation could not be repaired as soon as certain legislation The meeting was attended by American Ambassador Ryan Crocker in Iraq.
The other received Hashemi General David Patraeus commander of the American forces in Iraq and a number of companions. The Patrios sovereignty detailed explanation on the functioning of a plan to impose law and the role of the multinational forces there. He listened to the remarks of Mr. MP reservations on many of the wrong practices affecting the human rights as promised by General Petlaviha, Mr. MP also discussed plans for the affairs of detainees in American prisons and stressed the urgent release of the innocent and avoid converting files to eliminate Iraqi They were pretexts in this regard / / completed / p u / u p / Presidency of the Republic ..

Translated version of http://www.wna-news.com/inanews/news.php?item.4330.5

Originally Posted by wciappetta

I don't know that it's strictly compensation but it’s surely a part of it. We are in a period of inflation compensation and it appears there have been gains made. I cannot get the article IV remarks out of my head. [COLOR="Red"][SIZE="4"]I would wager that we are close to the tipping point or why talk article IV and that at the behest of the IMF?

When they granted the 6 month extension, it was the IMF that pointed to dedollarization as cure for entrenched (or chronic) inflation.

The proof that dedollarization is under way, in my opinion, is the systematic, day to day removal of dinar from circulation (not the small changes in dinar value).

The dinar value, as it becomes more scarce, while bolstered by Iraq's staggering resources - must be gaining considerable value "off the charts".

Just as we don't know the real value of a famous painting until it is sold - I believe we won't know the hidden value of the dinar until serious Iraqi assets begin to be sold.

Mobilization gas Kut : we must set up committees to oversee the distribution of gas up

Luna / June 13 / Wasit / Eng Firas Abdali director mobilization liquid gas plant in Kut that there is a need to develop compounds lab for the purpose of achieving the required standard weights as well as a need to develop other labs for the purpose of alleviating the burdens and complete the work as quickly as possible and requested.
He added Abd Ali, but several ad hoc committees that can be consulted in the event of the future development of the lab.
On the other hand, Eng said Firas that the Oil Ministry set the prices of liquid gas cylinder 4000 dinars while the market saw a marked increase in the sale of higher prices and the cylinder due to the nature of the mechanism through which the distribution of liquid gas to citizens under the ration card by the municipal councils throughout the preserve Decides that in the light of the amount of addition of 750 Denarsuda expenses transfer CDs from the lab to the agents of foodstuffs and flour, who are acts distribution rate of approximately two per month per family, in addition to bridging the wage commissions supervising adopted by the municipal councils.
He concluded his statement by saying the manager of the plant that Aamkaneh to obtain scarcity of liquid gas in the pan Wasit governorate at the present time due to the presence of large stocks of liquid gas reservoirs in the province.
The liquid gas plant in Kut linked administratively to mobilize public company affiliated to the Ministry of gas oil, the company said processing lab equipment and other needs soon / / completed / u p / m t / local.

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Translated version of http://www.wna-news.com/inanews/news.php?item.4330.5

Executive Director of the Iraqi exchange said that the Board of Governors was successful in obtaining financial aid from donor countries.

More than an estimated $7 million was allocated for development of trading mechanisms, moving from manual to electronic trading. Implementation of the electronic trading system "Horizon" and the central deposit system "Equator" was by the Swedish company O.M.X., already responsible for automation projects in 30 Arab and international exchanges.

Abdul Salam

explained that setting up the internal networks in the Market had finished

training in their application will be thorough, including the President and members of "The Securities Body" plus the Board of Governors, as well as all associates.

He stated that the plan envisages a direct link between the Iraqi Market of Securities and the Body of Securities and with transfer agencies like companies, governmental and private banks. As well, the network will link to provinces which open electronic exchange centers, first tying them to Baghdad's center and from there linking globally.

Abdul Salam pointed out that this development, which impacts the performance of the market at all levels, is expected to provide many advantages, notably: increasing the number of weekly sessions, the number of contracts executed per session, and the rate of circulation of shares.

This will fulfill the goals of maintaining high share liquidity to facilitate investment, plus efficient and safe storage and recording of shares in the deposit centers permitting rapid, accurate, certificate issuance before and after trades.

The Executive Director of the Iraqi exchange concluded that the Market had satisfied Investment Law No. 13 of 2006's requirements as instructed by a committee from the Board of Governors, including with regard to the involvement of non-Iraqis in the market.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3933

Originally Posted by wciappetta

You might be on to something here. It just could be a correction perhaps I wonder how the rate stacked up against other currencies from the day before?

Certainly this is not slow growth since we watched the fluttering between 1260 and 1259. It might appear that way to some because it looks slow and technically is growth but it’s pure kennard. It's not going to prove to be the long-term course of action. Slow growth and article IV do not mesh…

I'm curious to see the latest core inflation numbers.

It’s hard to judge the inflation factor though since fuel price increases are part of the IMF prescription for economic health besides staving off a potential oil derivatives black market.

Plus we are still on the program rate and the CBI is holding back the exchange rate, which also reveals itself in inflation rate.

No this is not slow growth, I believe it's just merely an adjustment to pry more dinar out of financial markets. Remember at this rate of exchange I do not believe they can fund the retirement program requirements and that won’t breed stability.

Patience as we look for the bold adjustment.

One of the things that I feel is being over looked is the GoI budget. Remember the budget is based on 1260 to 1. Any tic below 1260 gives the GoI additional purchasing power. Iraq needs so very much in the area of infrastructure repair and building. The budget for 2007, IMHO, was doomed to fail if left at current levels. They may have not gone broke but the needed work would not have been done for this year. The CBI can and has kept the currency stable while increasing it's value. A stable currency does not mean a stagnant currency. IMHO, there is as much pressure on the CBI to increase the value as there is to keep it stable. I do not consider a stop at a certain rate for a few days stagnant. Until there is the bold move I believe that we will see a gradual rate change in our direction. I really don't think there is a stopping point. I know we hear 1000 by the end of the year or some other leveling point but those serve no purpose. The CBI will keep moving the rate until they feel they need to pause in order to maintain stability. I believe there will be the move we are looking for but we will keep seeing these slight rate changes until then. The GoI needs all the purchasing power they can get, at least until large amounts of oil can be pumped each day.

Originally Posted by darock0116

"Iraqi Prime Minister Nuri al-Maliki with Assistant Secretary of State John Negroponte, who arrived Tuesday in Baghdad on a surprise visit" regional interventions and conspiracies "facing the government. Transfer official statement from al-Maliki as saying that the government "is going to enact the bills de****e regional interventions and plots that are hampering the political process." The project revert to the laws of the oil, gas and accountability, justice and territories. He added, "We have many tasks including the development of our security and our armed forces to play their role in addressing national Qaeda terrorist organization, and Sadamien, militias and extending the authority of law." He stressed, "the success of the government of national unity in eliminating the greatest danger of sectarian war through reconciliation initiative national "and praised" the support of the United States for the political process and reconstruction, rebuilding. " The statement continued, "Negroponte new American administration's position supporting the government in the face of challenges and external interventions." It is noteworthy that Negroponte was ambassador to his country in Iraq between 2004-2005. The Maliki met Negroponte beginning in November 2006 when he was still chairman the American intelligence agencies. The "New York Times" on Tuesday that the commander of the American army in the Middle East, Admiral William Falun warned Maliki face growing anger from before the American Congress that the government did not demonstrate the political progress in sensory during one month. The newspaper pointed out that Falun said of the owners during a meeting Sunday in Baghdad that the Iraqi government's ratification of the new Iraqi oil by next month, which by law are supposed to identify ways of distributing oil wealth to the governorates and Iraqi groups

الصباØ* الجديد - المالكي بØ*Ø« مع نغروبونتي "التدخلات الاقليمية والمؤامرات

thanks darock! BY NEXT MONTH indicates we will have a final hcl within a couple weeks here which gives a good reason why we will see a jump in the rate WITHIN that time period. NOT a slow grow.

Wednesday, June 13, 2007
Economic Report The reasons for the new rises in world oil prices, the importance of reserves of the Central Bank in the Iraqi economy

Preparation and submission : Nazim Yasin

These include the new program (economic report) interview with the oil analyst Kamel Harmi the reasons for the repeated rises in world energy prices.
In today's episode, listen to an exclusive statement to the Iraqi Central Bank Governor Sinan Shabibi about the importance of the country's reserves of foreign currency to stabilize the Iraqi economy.

-

Reasons the new rises in world oil prices
News coincided hurricane, which struck the Arabian Sea on Monday and fears it could spread to the Gulf Coast with new rises in oil prices in world markets. And de****e the fact that Saudi Arabia and the United Arab Emirates are far from the path of the hurricane but the proximity of the Sultanate of Oman is a small producer of oil and fears of its potential impact on the movement led to a rise in export prices more than $ 1 to about seventy dollars a barrel on the London Stock Exchange Tuesday. The Gulf region provides the world with five of their oil.

ف

Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) Tuesday that the price of a basket of crude oil rose to 65.63 Organization dollars a barrel from 64.47 dollars last Friday.
In Iraq, a spokesman for the Ministry of Oil Assem Jihad told Reuters news that the strike declared by the workers oil pipelines in the south of the country to demand better wages will not have an impact on the export from the southern ports.
In the following interview I conducted via telephone, speaking Kuwaiti oil analyst Kamel Harmi the reasons for the new rises in world energy prices and the role of consumers in this increase, in addition to the prospect of lower supplies in the event of aggravation of the crisis arising from the confrontation with the West that Iran is the second largest oil-exporting country in the organization (OPEC).

(

(Interview with the Kuwaiti oil analyst Kamel Harmi)

-

Important reserves of the Central Bank in the Iraqi economy
The Iraqi Central Bank Governor Sinan Shabibi bank's success in the formation of the hard currency reserves of about twenty-one billion dollars led to a state of assurance necessary to preserve the stability of the exchange rate of local currency.

In the following interview with the correspondent of Radio Free Iraq in Baghdad Leith Ahmed, talked about other economic issues including the role of the monetary reserve in the Iraqi trade factors affecting the exchange rate of the dinar and the relative decline in the rate of inflation.


(Interview with the Governor of the Central Bank of Iraq Sinan Shabibi-Baghdad)

Translated version of http://www.iraqhurr.org/

Originally Posted by fredgwest1999

Executive Director of the Iraqi exchange said that the Board of Governors was successful in obtaining financial aid from donor countries.

More than an estimated $7 million was allocated for development of trading mechanisms, moving from manual to electronic trading. Implementation of the electronic trading system "Horizon" and the central deposit system "Equator" was by the Swedish company O.M.X., already responsible for automation projects in 30 Arab and international exchanges.

Abdul Salam

explained that setting up the internal networks in the Market had finished

training in their application will be thorough, including the President and members of "The Securities Body" plus the Board of Governors, as well as all associates.

He stated that the plan envisages a direct link between the Iraqi Market of Securities and the Body of Securities and with transfer agencies like companies, governmental and private banks. As well, the network will link to provinces which open electronic exchange centers, first tying them to Baghdad's center and from there linking globally.

Abdul Salam pointed out that this development, which impacts the performance of the market at all levels, is expected to provide many advantages, notably: increasing the number of weekly sessions, the number of contracts executed per session, and the rate of circulation of shares.

This will fulfill the goals of maintaining high share liquidity to facilitate investment, plus efficient and safe storage and recording of shares in the deposit centers permitting rapid, accurate, certificate issuance before and after trades.

The Executive Director of the Iraqi exchange concluded that the Market had satisfied Investment Law No. 13 of 2006's requirements as instructed by a committee from the Board of Governors, including with regard to the involvement of non-Iraqis in the market.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3933

open up that market for foreigners with new prices on the stock via a revalued dinar!!! take the lid offa the pot before it boils over shabibi!!!

Originally Posted by darock0116

Wednesday, June 13, 2007
Economic Report The reasons for the new rises in world oil prices, the importance of reserves of the Central Bank in the Iraqi economy

Preparation and submission : Nazim Yasin

These include the new program (economic report) interview with the oil analyst Kamel Harmi the reasons for the repeated rises in world energy prices.
In today's episode, listen to an exclusive statement to the Iraqi Central Bank Governor Sinan Shabibi about the importance of the country's reserves of foreign currency to stabilize the Iraqi economy.

-

Reasons the new rises in world oil prices
News coincided hurricane, which struck the Arabian Sea on Monday and fears it could spread to the Gulf Coast with new rises in oil prices in world markets. And de****e the fact that Saudi Arabia and the United Arab Emirates are far from the path of the hurricane but the proximity of the Sultanate of Oman is a small producer of oil and fears of its potential impact on the movement led to a rise in export prices more than $ 1 to about seventy dollars a barrel on the London Stock Exchange Tuesday. The Gulf region provides the world with five of their oil.

ف

Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) Tuesday that the price of a basket of crude oil rose to 65.63 Organization dollars a barrel from 64.47 dollars last Friday.
In Iraq, a spokesman for the Ministry of Oil Assem Jihad told Reuters news that the strike declared by the workers oil pipelines in the south of the country to demand better wages will not have an impact on the export from the southern ports.
In the following interview I conducted via telephone, speaking Kuwaiti oil analyst Kamel Harmi the reasons for the new rises in world energy prices and the role of consumers in this increase, in addition to the prospect of lower supplies in the event of aggravation of the crisis arising from the confrontation with the West that Iran is the second largest oil-exporting country in the organization (OPEC).

(

(Interview with the Kuwaiti oil analyst Kamel Harmi)

-

Important reserves of the Central Bank in the Iraqi economy
The Iraqi Central Bank Governor Sinan Shabibi bank's success in the formation of the hard currency reserves of about twenty-one billion dollars led to a state of assurance necessary to preserve the stability of the exchange rate of local currency.

In the following interview with the correspondent of Radio Free Iraq in Baghdad Leith Ahmed, talked about other economic issues including the role of the monetary reserve in the Iraqi trade factors affecting the exchange rate of the dinar and the relative decline in the rate of inflation.


(Interview with the Governor of the Central Bank of Iraq Sinan Shabibi-Baghdad)

Translated version of http://www.iraqhurr.org/

you cant get much clearer than this. they have the reserves built up to stabilize the dinar which is going to affect exchange rate capabilities. so they can revalue and keep the dinar stable at the same time. THE MOST EXCITING TIME OF THIS INVESTMENT IS HERE!!!!!
WOOOOOOOOOOOOT!!!!