Thread: Iraq/Dinar News. 09/05 to 01/14/07

Interesting article too long to post.

Kurdistan: The Quest for Statehood

.:: Peyamner Daily NEWS::.

LINK

Oct. 22, 2006, 7:03PM
Halliburton's 3Q Income Rises 22 Percent

By STEVE QUINN AP Business Writer
© 2006 The Associated Press

DALLAS — Halliburton Co. watched third-quarter net income rise 22 percent, thanks in part to fewer disruptions from hurricanes, which beset the oil industry last year.

The Houston-based oilfield services conglomerate Sunday posted $611 million, or 58 cents per share, in net income for the June-September quarter, including a $4 million charge from discontinued operations.

That compares to $499 million, or 48 cents a share, for the same period last year, including a $7 million boost from discontinued operations.

Third-quarter revenue rose 19 percent to $5.8 billion.

The results beat the average Wall Street analyst projection of 54 cents a share in earnings on revenue of $5.52 billion, according to Thomson Financial.

The revenue increase was largely attributable to its energy services group, which posted record revenue of $3.4 billion, up 31 percent year-over-year.

Halliburton's construction and engineering unit, KBR, had $2.4 billion in revenue compared to $2.3 billion in the third quarter of 2005.

"This was an exceptional quarter for Halliburton," said Dave Lesar, the company's chairman, president, and chief executive officer in a prepared statement.

"The energy services group improved on its impressive second quarter results, growing revenue 9 percent sequentially," he said. "I'm also pleased with the quarterly performance of KBR, which posted a 7.5 percent operating margin in the energy and chemicals segment."

KBR has kept the company, once led by Vice President Dick Cheney, under lawmakers' microscope for its work in Iraq since the U.S. invaded the country three years ago.

Halliburton's Iraq-related work contributed nearly $1.2 billion in revenue in the third quarter of 2006 and $45 million of operating income, a performance that pleased analysts.

"Iraq was better than expected," said Jeff Tillery, analyst with Pickering Energy Partners Inc. "Overall, there is nothing really to question or be skeptical about. I think the results are very good."

Even as a light hurricane season helped the company, disruptions from the last two years had a chilling effect on the industry this summer, possibly stifling potential business, A.G. Edwards analyst Poe Fratt said.

"Clearly year-over-year it is better because we didn't have as much hurricane activity," Fratt said. "But, because the last two years have been disruptive, companies have been prepared for it and didn't do as much work in the Gulf."

Lesar and other company executives will elaborate on the Sunday afternoon earnings report during a conference call with analysts on Monday morning.

Analysts will be looking for comment on several issues, including:

_ Progress on the company's plans to spin off KBR. Last quarter Halliburton said it would pursue a spinoff rather than a previously announced initial public offering.

_ An update on the company's stock buyback plan. Last month it approved the repurchase of up to an additional $2 billion in stock.

_ A look at energy services operations in North America. Drilling could slow down if natural gas prices don't get a boost from an extremely cold winter.

"International growth looks really good for them, but in North America there is uncertainty until the winter shows up," Fratt said.

Shares of Halliburton fell 60 cents to close Friday at $28.78 on the New York Stock Exchange.

Very Interesting Thanks Clintstella,
LIT

Here is a little back ground on James Baker and his roll in Iraq. I think we need to keep any eye on him. Also he was on The Daily Show last night - seem Baker has wrote a book - Hope this helps the new folks on who's who in this game of IRAQ CLUE.


LINK
Restructuring and reducing Iraq's official debt will be the task of James A. Baker III, "long-time family troubleshooter" and former Secretary of State, according to a December 5, 2003, AP news story. President George W. Bush announced that he had called upon Baker "to oversee the job of getting Iraq out from under its crushing $125 billion debt."

In the capacity of his personal envoy, Baker will report directly to the President "'and will lead an effort to work with the world's governments at the highest levels, with international organizations and with the Iraqis in seeking the restructuring and reduction of Iraq's official debt,' Bush said in a statement read by White House press secretary Scott McClellan. ... Bush said he made the appointment in response to a request by the Iraqi Governing Council. ... Baker will serve as a volunteer, working out of an office at the White House and travelling to other countries."

Originally Posted by Offshore-Wealth.com

Interesting,

If people really knew just how common this is, they would not be voting Republican or Democratic, they would be voting independent. Baker, Albright, Cheney, Bush, and all the other crooks in government positions are all involved in these deals, so nothing new here. LOL

As to the comments on Bush and his smirk or smile when speaking, this is common no matter what the subject is when speaking. I kind of think it is a nervous twitch when he is lying personally. And that is why he is always smirking, he is always lying. LOL

Good luck to all, Mike

Oh, come on Mike. You generally are not so dramatic as to use such words as "ALWAYS". I personally think that Bush is doing a great job, not perfect, but great. None of us are perfect and none of us here have ever walked in his shoes. I am grateful that his proclamation and demonstration of his faith are holding true.

Are you aware that our national deficit has been cut in half since he has taken office? Now that is something to cheer about.

Monica

I JUST NEVER KNOW WHAT I WILL FIND ON GOOGLE - BUT THIS PUT A HMMMM

ALSO THE "IRAQ DINAR" LINK DON'T WORK ON THE WEBSITE - HMMMMMM

LINK
participating banks

In addition to the five Operating Consortium banks, a group of world-class banking institutions have joined the Trade Bank of Iraq Consortium as Participating Banks. These banks were selected for their geographic breadth, the strength of their trade finance franchise, and their commitment to doing business in the Middle East.

Participating Banks further broaden the client base and global reach of TBI. The larger group of banks is also positioned to engage a wider circle of export credit agencies to provide coverage for exports to Iraq. These banks will also be engaged to line up financing during future phases of the Trade Bank. These banks will also form the nucleus of TBI's correspondent banking relationships.

Akbank TAS .................................... (Turkey)
Bank of China ....................................... (China)
Bank of Tokyo-Mitsubishi ..................... (Japan)
Calyon ....................................... (France)
DBS .......................................... (Singapore)
Gruppo SanPaolo IMI S.p.A ..................... (Italy)
Internationale Nederlanden Group ....... (Netherland)
Millennium BCP .................................. (Portugal)
Royal Bank of Canada ....................... (Canada)
Standard Bank Group Limited ............... (South Africa)
State Bank of India ........................... (India)
Vneshtorgbank (Bank for Foreign Trade) ....... (Russia)
Woori Bank .................................. (Korea)

Between the Operating Consortium and the Participating Banks, the Trade Bank of Iraq is able to reach every corner of the world. Our Partners presence throughout the world is truly impressive.

you should take the time to read this one, not just because it took me 20min to clean up. lol Its a VERY good read and just 3 days old.

Undersecretary of the Ministry of Finance spoke to Kamal visual «life» from inflation and the decline of purchasing power عامل والدعم الحكومي 480 مليون دولاربسبب ضعف الانتاجIraq : the public sector is 580 thousand industrial workers and government support 480 million Dolarbsbb weak production
بغداد - عادل مهدي الحياة - 23/10/06//Baghdad-Adel Mahdi life-23 / 10 / 06 / /


Najaf refinery, which opened in early this month. (أ ف ب)(AFP)
Said Undersecretary of the Iraqi Ministry of Finance Kamal Al-Basri «life», The policy of economic reform required to reduce the financial allocations to support petroleum derivatives for the current year by half, to become a $ 200 million monthly. instead of 400 per month in 2005, This is based on the government's desire to reduce the subsidy gradually, and make prices consistent with the neighboring countries.

He disclosed that the scheme had been providing for the issuance of a presidential decree, summarized end the State monopoly for the import and sale of oil derivatives, and to allow the private sector to participate in the practice activity, but this has not taken place, The fuel crisis as it is.

He explained that the recent period of 2005, have stopped importing oil derivatives from Turkey, due to the irregular payment of financial dues of the Turkish side, what makes prices more than the regular market prices are not supported. As a result, the rate of domestic spending on oil derivatives, approximately 40% of the family income, according to the statistical survey of the city of Baghdad. conducted by the Central Bureau of Statistics this year.

He pointed out that the rate of inflation in the months of July (July) and father (August) two years 70%; , and 76.6%, respectively, reflected negatively on the Iraqi economy. The negative effects, a reduction in the purchasing power of individuals, as well as the decline in the real value of savings and deposits, especially if the inflation rate is higher than the rate of interest, what led to a decrease in the volume of investment in the national economy, and discourage the process of economic development.

He added that despite the government's support for importing oil derivatives, to meet the shortfall in production internally, the local market has been experiencing a big shortage in bridging the growing demand, because of the entry of a large number of cars imported by the private sector. The constant interruptions to electricity, increased use of generators that rely on the operation of these derivatives, as well as the suffering of the distribution sector major problems, The existence of administrative and financial corruption. وكلها عوامل ساهمت في ارتفاع المعدل العام للأسعار، ما انعكس سلباً على سلة الغذاء.These are all factors that contributed to the rise in the overall level of prices, , which impacted negatively on the food basket.


التضخمInflation
He attributed the reasons for the high inflation rate to several factors other, the most important of the high prices and scarcity of oil derivatives, power outages, impedes the production of goods and services, The downsizing of the supply on the market. weak capacity of the government machinery in the implementation of projects services. as well as the deterioration of the security situation, which contributed to the irregular supply of goods and services. The weakness of the structure of GDP.

He pointed to the negative consequences resulting from the weakness of the banking system to attract cash. He said that the Central Bank of Iraq, In an attempt to curb inflation, the oldest recently to raise interest rates from 10 to 12%. وObservers believe, This increase was unable to make any positive impact, They are unprofitable, Valtakl impact of inflation in the capital. more interest rate, Therefore, this policy is not sufficient to maintain the purchasing power of the Iraqi currency.


البطالةUnemployment

In analyzing the growing problem of unemployment. he said that the unemployment rate is 27-30%. although the majority of the workforce is in the services sector with marginal influence in the overall GDP, while they do not exceed 2% in the oil sector, the backbone of GDP.

He said that there are flaws in the structure of the Iraqi economy, In the industrial sector, public works 580 thousand, However, the weak production, push the government to support at $ 480 million, He pointed out that government support direct and indirect in the state budget constitutes about 80% of GDP. Therefore there is a clear imbalance between the sectors of production and services sectors.
He believed that dealing with the phenomenon of inflation come through steps including the stabilization of the security of confidence in the local market. and to address the scarcity of oil derivatives, by ending the monopoly of the State, and to allow the private sector to import. The increase of interest rates in general. have a role in collecting cash, It is an established procedure in many countries stable, However, the impact will not be significant, due to the lack of a tendency to save, The absence of investment opportunities that can be fed savings. The understanding of the rich prefer to transfer their capital abroad. Therefore it is hard to imagine that the rate of interest rate role, as long as the difference between the inflation rate significantly.

The rise in the value of the Iraqi currency against the dollar would reduce the value of imports, and raising the value of exports. As exports are negligible, the economy will benefit from the policy of raising the rate of the Iraqi dinar. He emphasized that this action has positive effects, when used with other procedures, the most important financial policy, which is based on controlling public spending, The use of fiscal policy to reduce the cash, They are difficult to apply.


Translated version of http://www.alhayat.com/business/10-2006/Item-20061022-7127d4b7-c0a8-10ed-0055-76e2e1003b17/story.html

U.S. Troops in Iraq: 72% Say End War in 2006

October 25, 2006, 18 hours, 4 minutes and 25 seconds ago.

By (AND) - African News Dimension for breaking news second by second, covering the African Continent

An overwhelming majority, 72% of American troops serving in Iraq think the U.S. should exit the country within the year. Among Reserves 90% favor withdrawal compared to 83% of the National Guard, 70% of the Army, and 58% of the Marines. Moreover, about three-quarters of National Guard and Reserve units favor withdrawal within 6 months.

A poll by La Moyne College and Zogby of active duty troops in Iraq shows a huge disconnect between the Commander in Chief and his troops in battle. It is evident that the President views the war very differently then the troops on the ground. The loss of the troops may be the final straw in the illegal occupation turned into a failed war. The foreign policy establishment had already told the President they thought the Iraq War was a mistake. The people have been saying the war was a mistake. All that is left are President Bush and the hawkish leaders of the two parties - only they are calling for staying the course or sending more troops. Support for rapid withdrawal in the Zogby survey of troops, three-quarters of whom had served two or more tours of duty, was even higher than among the U.S. public. A majority of the US public (almost 60%) now believes that the troops should be withdrawn this year. Moreover, almost half of the public say that the US should never have invaded and troops should be withdrawn immediately. The view of the troops is more in accord with that of Democrat or progressive voters, 80% of whom favor rapid withdrawal. In contrast Republican voters (41%) are less inclined for withdrawal. Support for the administrations' performance in Iraq is waning among military officers as well Military Times Polls . The poll also shows that the troops are confused by the mission in Iraq. Forty-two percent acknowledge their confusion. And, while 58% think they know why they are there in fact they are acting on inaccurate information. When troops are asked why they are in Iraq, 85% said it was "to retaliate for Saddam's roll in the 9-11 attacks" - when in fact Sadam had no role in 9-11. And, 77% of soldiers thought it was "to stop Saddam from protecting al Qaeda in Iraq" - again Sadam and al Qaeda were never allies, indeed they were enemies, the latter secular and the former religious. The troops have figured out that they are not there for the reason stated by the President - 93% recognize they are not there to remove weapons of mass destruction. The vast majority (76%) also do not believe that the United States is establishing a democracy that can be a model for the Arab world. But they do not accept that securing oil was the major purpose - only 11% accept that rationale. Sadly, the Pentagon dismissed the findings saying "It shouldn't surprise anybody that a deployed soldier would rather be at home than deployed." And, "I don't think anybody is getting alarmed over any one poll." The message they are sending to the soldiers is that their commanders are not listening to the troops on the ground. The Zogby Poll Zogby International
Search for similar stories

Yes it is interesting even though it is from Oct. 2004.

Originally Posted by Offshore-Wealth.com

Interesting,

If people really knew just how common this is, they would not be voting Republican or Democratic, they would be voting independent. Baker, Albright, Cheney, Bush, and all the other crooks in government positions are all involved in these deals, so nothing new here. LOL

As to the comments on Bush and his smirk or smile when speaking, this is common no matter what the subject is when speaking. I kind of think it is a nervous twitch when he is lying personally. And that is why he is always smirking, he is always lying. LOL

Good luck to all, Mike

Originally Posted by MrsCK

LINK

Oct. 22, 2006, 7:03PM
Halliburton's 3Q Income Rises 22 Percent

By STEVE QUINN AP Business Writer
© 2006 The Associated Press

DALLAS — Halliburton Co. watched third-quarter net income rise 22 percent, thanks in part to fewer disruptions from hurricanes, which beset the oil industry last year.

The Houston-based oilfield services conglomerate Sunday posted $611 million, or 58 cents per share, in net income for the June-September quarter, including a $4 million charge from discontinued operations.

That compares to $499 million, or 48 cents a share, for the same period last year, including a $7 million boost from discontinued operations.

Third-quarter revenue rose 19 percent to $5.8 billion.

The results beat the average Wall Street analyst projection of 54 cents a share in earnings on revenue of $5.52 billion, according to Thomson Financial.

The revenue increase was largely attributable to its energy services group, which posted record revenue of $3.4 billion, up 31 percent year-over-year.

Halliburton's construction and engineering unit, KBR, had $2.4 billion in revenue compared to $2.3 billion in the third quarter of 2005.

"This was an exceptional quarter for Halliburton," said Dave Lesar, the company's chairman, president, and chief executive officer in a prepared statement.

"The energy services group improved on its impressive second quarter results, growing revenue 9 percent sequentially," he said. "I'm also pleased with the quarterly performance of KBR, which posted a 7.5 percent operating margin in the energy and chemicals segment."

KBR has kept the company, once led by Vice President Dick Cheney, under lawmakers' microscope for its work in Iraq since the U.S. invaded the country three years ago.

Halliburton's Iraq-related work contributed nearly $1.2 billion in revenue in the third quarter of 2006 and $45 million of operating income, a performance that pleased analysts.

"Iraq was better than expected," said Jeff Tillery, analyst with Pickering Energy Partners Inc. "Overall, there is nothing really to question or be skeptical about. I think the results are very good."

Even as a light hurricane season helped the company, disruptions from the last two years had a chilling effect on the industry this summer, possibly stifling potential business, A.G. Edwards analyst Poe Fratt said.

"Clearly year-over-year it is better because we didn't have as much hurricane activity," Fratt said. "But, because the last two years have been disruptive, companies have been prepared for it and didn't do as much work in the Gulf."

Lesar and other company executives will elaborate on the Sunday afternoon earnings report during a conference call with analysts on Monday morning.

Analysts will be looking for comment on several issues, including:

_ Progress on the company's plans to spin off KBR. Last quarter Halliburton said it would pursue a spinoff rather than a previously announced initial public offering.

_ An update on the company's stock buyback plan. Last month it approved the repurchase of up to an additional $2 billion in stock.

_ A look at energy services operations in North America. Drilling could slow down if natural gas prices don't get a boost from an extremely cold winter.

"International growth looks really good for them, but in North America there is uncertainty until the winter shows up," Fratt said.

Shares of Halliburton fell 60 cents to close Friday at $28.78 on the New York Stock Exchange.

What is your point in posting this irrelevant article other than supporting the efforts of the radical left downstream media who hates all things Bush and Cheney, Republicans, conservatives, patriots, etc? (Hint) It's a rhetorical question. The media's obsession with demonizing Cheney who has done more to serve this country than will ever be reported has gotten very old and is now being rehashed ironically just in time for the November elections. Ignorant postings like this confirm my inference. You might consider refraining from expressing your Travis County mindset because this conservative sees right through it. If this is a political thread (which I'm certain it is not), then be prepared to be challenged when you opt to post a politically biased article that has NOTHING to do with the dinar.