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

Originally Posted by Dinar-Excited

Are you kidding me it's on his signature. I had to tell him off on About Dinar. I hope he does not ruin Rolclub with his arrogance.

I wish he would go and read some new news instead of quoting old news. The new news totally makes his MunnyBaggs junk just that JUNK!!!!!

Sorry for the rant.

Dinar-Excited

Have faith D-E we have a very strong alliance here and Neno who doesn't let naysayers and know-it-alls ruin what is happening here. More than one negative infiltrator has been banned or run off in the past few weeks

The top news headlines on current events from Yahoo! News

Posted by: Dinaress

Industrial and Commercial *Sounds like they are gearing up for massive business in emerging markets.

ICBC shares rise in HK, Shanghai after record IPO By Kennix Chim and George Chen
Fri Oct 27, 6:00 AM ET

HONG KONG/SHANGHAI (Reuters) - Shares in Industrial & Commercial Bank of China, which is raising up to US$21.9 billion in the world's largest IPO, ended 15 percent higher in their Hong Kong debut on Friday after its stock sale generated huge investor demand.

The debut values the largest Chinese lender, making the first simultaneous Hong Kong and mainland China listing, at about US$139 billion, ranking it fifth among global banks, behind JPMorgan Chase & Co and ahead of Mitsubishi UFJ

China began listing its banks overseas last year, and all five mainland lenders trading in Hong Kong have drawn huge demand for their shares as investors downplay worries about the legacy of decades of state-directed lending.

Yang Liu, managing director at Atlantis Investment Management, bought ICBC's IPO shares as a play on the Chinese economy, a rising currency and growing middle class, despite her preference for China Merchants Bank and China Construction Bank

"It's too big to be ignored," she said.

The stock leapt as high as HK$3.63, or 18 percent above its offer price, shortly after the Hong Kong market opening, compared with an IPO price of HK$3.07, before closing at

HK$3.52.

ICBC was the most active stock in Hong Kong, but fell short of expectations for a first-day gain of as much as 20 percent.

"It's better than what the average investor expected, given the size of the offering," said Kent Yau, deputy research director at Core Pacific Yamaichi in Hong Kong.

ICBC's domestically listed A-shares, however, disappointed investors by ending with just a 5.13 percent gain to 3.28 yuan, compared with an offer price of 3.12 yuan. The Shanghai shares rallied early by 10 percent before easing.

The Hong Kong debut was crimped by a 0.31 percent dip in the Hang Seng Index, which earlier on Friday hit a record high.

BIG AND BIGGER

ICBC raised US$19.1 billion and is expected to expand the offering to US$21.9 billion by exercising an overallotment option.

The stock sale was the most popular in Hong Kong and China history, and unmet demand for shares, combined with a surging Hong Kong market and an offering priced at a discount to peers, helped lift its first-day trading performance.

"Investors foresee China's economy maintaining 10 percent growth every year before the 2008 Olympics in Beijing, so they're buying mainland bank shares now to access that growth," said K.C. Chan, executive director at money management firm KDB International, which bought ICBC shares for its clients.

The IPO, about 75 percent of which was sold to Hong Kong and global investors and the remainder in the mainland, surpasses Japan's NTT Docomo, which raised US$18.4 billion in 1998, as the world's largest share sale.

"This is the world's largest IPO ever with the biggest ever subscription rate. That speaks volumes for the quality of the offer and for global investor confidence in China," said Damian Chunilal, president of Pacific Rim global markets and investment banking at Merrill Lynch, one of ICBC's underwriters.

Among its rivals, Bank of Communications trades 132 percent above its IPO price, while China Construction Bank and Bank of China are up 50 percent and 13 percent, respectively. On their Hong Kong debuts, Construction Bank closed flat and Bank of China ended up 15 percent.

BILLIONS IN BAILOUTS

China has scrambled to get its creaky banks into better shape ahead of increased foreign competition set to kick in at the end of this year under its World Trade Organization obligations.

ICBC's IPO attracted share orders worth about US$400 billion for the Hong Kong portion of its deal and 780.7 billion yuan (US$99 billion) for its domestic deal.

That should hearten another mainland lender, China CITIC Bank, which plans to raise as much as US$2 billion in a Hong Kong and mainland share sale by early 2007.

ICBC's share sale was a bonanza for foreign institutional investors led by Goldman Sachs, which paid US$2.58 billion in April for about 16.5 billion ICBC shares -- a stake that is now worth US$7.45 billion. Allianz and American Express also bought stakes alongside Goldman that are now worth a combined US$3.5 billion.

All three investors have three-year lockups on their shares.

ICBC's IPO values the lender at 2.23 times its forecast book value. By comparison, No. 2 mainland lender Bank of China trades at 2.35 times 2006 book, No. 3 China Construction Bank trades at 2.66, and No. 5 Bank of Communications trades at 3.04 times book.

At the end of June, ICBC had total assets of 7.05 trillion yuan, 360,000 staff and more than 18,000 branches all over China.

China's "Big Four" state-run banks have received billions of dollars in government bailouts to help ease their bad loan woes.

ICBC received a US$15 billion capital injection from Beijing in April 2005, helping lower its non-performing loan ratio to 4.1 percent as of June 30 this year, compared with Bank of China's 4.2 percent and 3.51 percent for Construction Bank.

ICBC's investors will be rewarded with dividends of 45 to 60 percent of net profit for 2007 and 2008, compared with 35 to 45 percent for both Construction Bank and Bank of China.

ICBC's global IPO was sponsored by Merrill Lynch, China International Capital Corp. (CICC), ICEA, Credit Suisse and Deutsche Bank

HAPPY BIRTHDAY TO YOU, NENO!!!

May the Dinar make this new year of your life a very special one for you and all your dreams and wishes come true very soon!

:-)

Love, Antje

Kuwait hosts meeting of Intl' Compact for Iraq Oct. 31

KUWAIT, Oct 27 (KUNA) -- The state of Kuwait would host a preparatory meeting for the International Compact for Iraq on October 31 where discussions would focus on the final preparations to endorse the international compact by the end of 2006.

A statement by the Kuwait Fund for Arab Economic Development (KFAED) said Friday the meeting would be attended by Deputy Prime Minister and Foreign Minister of Kuwait Sheikh Mohammad Al-Sabah and US assistance Secretary of State, Iraqi Vice President, and senior figures representing 22 states as well as UN.

Labeled as "The International Compact" by the Iraqi government, the meeting aims at reinforcing cooperation between Iraq and the international community for the sake of strengthening economic, social, and political growth in the Middle Eastern country.

The meeting would discuss the procedures to develop the international compact to guarantee that reconstruction efforts in Iraq would continue, said KFAED.

It went on saying that another preparatory meeting would be held in Baghdad which would precede the official International Compact conference to be held by the end of this year.

Kuwait confirmed its supports to the Iraqi government during the last meeting in the UAE. The Kuwaiti Fund granted the Iraqis USD 60 million to finance the sectors of Education and Health, as well as easy loans worth USD 450 million were also given to develop several projects in Iraq.

Governor of Central Bank to take part in GCC monetary agencies meeting

KUWAIT, Oct 27 (KUNA) -- Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdulaziz Al-Sabah is due to fly to the United Arab Emirates to take part in the annual meetings of the monetary agencies and Central Banks of the Gulf Cooperation Council (GCC) states, slated next Monday.

The CBK said in a press statement released today, discussions during this annual meeting will focus on the infrastructure required for forming the monetary union, launch of the unified GCC currency and the corresponding legislations in particular what concerns the Gulf Central Bank.

NENO
Are you cleanig the cob webs again, and moving the threads so we have to work on finding things. THANKS

BAGHDAD, Iraq - Iraq's Defense Ministry said Saturday that the Iraqi army captured a man thought to be the personal cameraman for Abu Musab al-Zarqawi, the slain leader of al-Qaida in Iraq, the country's most feared terrorist group.

Spokesman Mohammed al-Askari told al-Iraqiyah television that Khalid al-Hayani was detained in Diyala province, northeast of Baghdad.

He declined to say when the capture occurred or give al-Hayani's nationality, saying that could hinder future operations against terrorists. He said videotapes and documents were found in al-Hayani's possession but did not describe their contents.

The Jordanian-born al-Zarqawi, who was killed by a U.S. airstrike June 7 in Diyala, had appeared in several videos posted on militant Internet sites.

One clip often played on Middle Eastern TV news channels showed him clad in black and firing a machine gun. An earlier one purported to show al-Zarqawi with his face covered, speaking to the camera before he slit the throat of a Western hostage.

Originally Posted by PAn8tv

Have faith D-E we have a very strong alliance here and Neno who doesn't let naysayers and know-it-alls ruin what is happening here. More than one negative infiltrator has been banned or run off in the past few weeks

Thanks PAn8tv,

I think all the comments you are hearing about MunnyBaggs are from us who have had to put up with his nonces on About Dinar for some time. If he stays long enough you will see what we mean. He has away of making your blood boil. I am sure Neno will keep him under control. I am just upset because I had a run in with him on About Dinar last night so it is still fresh.

Just a very arrogant character.

Dinar-Excited

Iraq's Kurdistan Regional Government says it has prepared its own oil policy and a draft partnership agreement with oil firms, the Kuwait News Agency reported. The proposals will go before the government's national assembly for approval, which would then allow foreign firms to invest in the sector. The KRG has already signed four oil exploration accords with Norwegian, Canadian and Turkish firms.

Headlines, briefing of Kuwaiti dailies issued Thursday, October 26, 2006

MDA-KUWAIT-PRESS
Headlines, briefing of Kuwaiti dailies issued Thursday, October 26, 2006

Arab Times ========== -- Bahrain, Kuwait ... Why can't we live like they do? Saudi blogger bares strain of boredom in Kingdom ... Bleak choices for the young -- Europeans move Iran resolution ... Tehran set to feed second centrifuge network in days.

-- Maliki in retort on timeline for drawdown ... Patience has limits -- Bush ... No change in strategy: Blair -- Putin urges caution: We could beat Pyongyang: Pace -- Exercise helps smokers quit Kuwait Times ============ -- Qatar treads thin line by hosting Israeli FM ... Tunisia shuts embassy in Doha over Jazeera campaign -- We're winning in Iraq: Bush ... US Army raid in Sadr city angers Maliki -- Saudi youth bored in model state The Daily Star (Kuwait edition) ============== -- Al-Qaeda places Kuwait on burner ... Security personnel on high alert at all times, say sources -- Panel to mull school tuition hike -- Police thwarts major trafficking bid -- Kuwait won't participate in "provocative" maneuvers -- Ex-Gitmos to be interrogated after Eid -- Ummah wages war on graft -- Housing system risks collapsing: Minister intervenes ... Ten thousand Kuwaiti families in limbo after Eid -- Saudi opens door for young rulers Al-Anbaa ========== -- In a new report by "Reporters Beyond Borders" for 2006 on press freedoms .. The Kuwaiti press remains on top at the Arab level and moves from rank 85 to 73 internationally -- In a solution to resolve status of residents who have been living in the country since before 1971 .. the UAE seeks to nationalize 10,000 Bedoun -- The army: No provocative drills by neighboring states -- Three parliamentary blocs coordinate for grilling Al-San'ousi -- The education to dismiss 60-year old expatriate personnel Al-Rai Al-Aam ============ -- Al-Barrak triggers campaign for interpellating Al-Shatti: Stop eating dates doctor and you will drown in an inch of water -- Four Islamic MPs ask caution in grilling Al-San'ousi -- Bush: Failure to defeat the terrorists in Iraq will enable them to oust moderate governments in the greater Middle East -- Accident involves German ship and two Israeli fighter jets near Lebanon Al-Watan ============== -- The army: We will not take part in provocative action against the neighbors .. The interior: Al-Qaeda threats against Kuwait not new -- The prosecution to interrogate them after Eid .. Extension of holding in solitary confinement for the couple who were released from Guantanamo -- Bush to the Americans: Situation in Iraq is a source of concern ... Pullout is a defeat vis-a-vis terrorism .. and our strategy is unwavering Al-Seyassah: ============ -- The legislative approves increasing retirement pension 50 dinars every three years -- Her meetings with experts is not irregular .. Ali Al-Rashed: Maasouma's decisions for reforming Al-Shatti's wrongdoing -- Berri calls for national dialogue to avert street riots -- Bush and Al-Maliki warn Damascus and Tehran: Our patience is running thin and the fire will spread to the fingers of evil -- Tunisia severs diplomatic relations with Doha -- German magazine forecast "sexual revolution" in the Arab world despite taboos.