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

oices of Iraq : parties - the-Postpone
كتب: santiago في يوم الخميس, 02 نوفمبر, 2006 - 09:55 AM BTSantiago wrote : On Thursday, November 02, 2006-9:55 AM BT

تأجيل مؤتمر الأحزاب والقوى السياسية لأجل غير مسمىThe postponement of the political parties and forces for an indefinite period
بغداد-(أصوات العراق)Baghdad - (Voices of Iraq)
أعلن وزير الدولة لشؤون الحوار الوطني أكرم الحكيم اليوم الخميس عن تأجيل عقد مؤتمر القوى والأحزاب السياسية في اطار المصالحة الوطنية الى اجل غير مسمى.The Minister of State for National Dialogue Akram Al Hakim today, Thursday, to postpone the convening of a conference on the political forces and parties in the framework of national reconciliation for an indefinite period.
وهذه هي المرة الثانية التي يتم فيها تأجيل المؤتمر حيث كان من المقرر عقده يوم 21 من تشرين الأول اكتوبر الماضي، غير انه تم تأجيله الى الرابع من الشهر الجاري.This is the second time in which the postponement of a conference which was scheduled to take place on 21 October last October, However, it was postponed to the 4th of this month.
وقال الوزير في بيان تسلمت وكالة أنباء (أصوات العراق) المستقلة نسخة منه "بعد التشاور مع رئيس الوزراء قررت وزارة الدولة لشؤون الحوار الوطني الغاء الموعد المقرر لعقد المؤتمر في 4/11 /2006 وسيتم اعلان الموعد الجديد بعد استكمال الحوارات مع تلك القوى السياسية".The minister said in a statement received news agency (Voices of Iraq) independent copy, "after consultation with the Prime Minister and the Ministry of State for National Dialogue cancellation of the scheduled date for the convening of the conference in 4 / 11 / 2006 and a new date will be announced after the completion of the dialogues with the political forces."
وعز الوزير التأجيل الى "طلب بعض القوى السياسية التي تم التباحث معها للمشاركة في المؤتمر اعطائهم فسحة من الوقت لحسم عدد من النقاط التي سيتم مناقشتها في المؤتمر".CHARGE minister postponement to the "request of some political forces that have been discussed with them to participate in the Conference give them time to resolve a number of points which will be discussed at the conference."
ومؤتمر الاحزاب والقوى السياسية هو أحد اربعة مؤتمرات عقد منها اثنان حتى الان في اطار مبادرة المصالحة الوطنية التي اطلقها رئيس الوزراء نوري المالكي عمليا في شهر تموز يوليو الماضي.And the political parties and forces, is one of four conferences held so far, including two in the framework of national reconciliation initiative launched by Prime Minister Nuri al-Maliki practice in the month of July last July.
س م - ش عO L-u p

http://www.itp.net/business/news/de...22583&category=

Pressure mounts on exchange rates

UNCERTAIN: Analysts are closely studying the value of currencies in the Gulf.
Soaring oil revenues are putting pressure on the dollar-pegged exchange rates in the Gulf, since the green buck is expected to continue to decline, and most GCC trades are denominated in other currencies.

Around half of imports in the region are priced in euros, but gulf oil exports are traditionally traded in the US dollar.

According to the Dubai Chamber of Commerce, the Saudi riyal is undervalued by as much as 33% relative to the dollar. The UAE suffers the least from all GCC currencies, with the dirham being undervalued by 12%.

Stephane Garelli, Professor at the Institute for Management Development (IMD) at the University of Lausanne, said at the business leaders in Abu Dhabi summit last week, “The dollar will continue to depreciate, and this will cause problems for countries like the UAE.”

“The dollar, which had a 0.9 exchange rate against the euro in 2002, and now 1.27 in 2006, will continue to fall, and this poses a serious problem for countries or corporations that manufacture or import in euros and sell in dollars,” Garelli said.

All GCC countries are pegged to the dollar, and when they form a monetary union in 2010 they are planning to keep the peg.

“Pegging the exchange rate to the dollar has one effect, but the consequent interest rate peg has a different impact,” said Andre Sayegh, CEO, First Gulf Bank.

Sayegh said targeting inflation could also be carried out through other means such as fiscal as well as monetary measures.

Since a week dollar tends to increase inflation due to the trading in goods of different currencies analysts say a revaluation would be necessary - besides international authorities calling for greater exchange rate flexibility in order to reduce global imbalances.

Revaluation however can only happen when all GCC member states coordinate among each other. Also, many goods within the gulf are traded in dollar and would then be pricier.

“Most Saudi assets are in dollars and if they revaluate they will take a loss on that. It’s not something they will do lightly," said Richard Fox, credit analyst at Fitch Ratings in London.

Last week the riyal was foreseen to be revalued over the Eid holiday, but analysts say that politics as well as economics made such as move unlikely.

The Saudi riyal was traded at a record peak up to 3.7420 per dollar- its highest since last May when investors first believed that Saudi Arabia would revalue its currency along with the Kuwaiti dinar, a more flexible currency than the Saudi riyal, that was then allowed to appreciate against the dollar.

All Gulf markets were closed for the Eid Al Fitr holidays for most of last week – with all dealings in currencies being offshore and traders said thin liquidity was exaggerating moves.

The move was just 0.16% but is significant for the riyal, which is closely pegged to the dollar at 3.75. Economists now say that, if it firms beyond 3.75 without a response form the central bank, speculation about a revaluation may heat up.

“The riyal moves are being caused by the rumours of revaluation. There was a liquidity squeeze in the market that made the riyal spot move well under 3.75,” said Koceila Maames, Middle East and North Africa economist at Calyon Paris. “From an economic point it does not really make sense, but you can’t rule it out as political gesture – as a gift to the population for Eid.”

“Some dealers are heard touting a move up to 15%," he added.

According to the annual report of the International Monetary Fund (IMF), in its first assessment of the Saudi economy following its World Trade Organisation (WTO) membership last year, the Saudi riyal appreciated by 3.4% in real effective terms during the 12-month period through March 2006, reflecting the movement of the US dollar against other major currencies.

Middle East Online





Talabani wants US troops to stay in Iraq


Iraqi President wants presence of US army on his country’s soil for three more years, says Iraq is not in civil war.


PARIS - Iraqi President Jalal Talabani said on Thursday that US troops should stay for up to three more years in Iraq to enable local authorities to build up their own security forces.

At the start of a week-long visit to France, Talabani said his country was not in a civil war and accused the media of focussing only on negative stories.

However, he said that "international terrorists" were still concentrating all their efforts in Iraq which meant the country needed outside help to defeat them.

“We need time. Not 20 years, but time. I personally can say that two to three years will be enough to build up our forces and say to our American friends 'Bye bye with thanks'," Talabani told a conference.

Talabani is due to meet French President Jacques Chirac later on Thursday. The Iraqi president said he wanted France to be actively involved in the rebuilding of the country and help train Iraqi forces.

Public pressure is building in both the United States and Britain to bring back troops from Iraq.

US President George W. Bush's Republicans face possible loss of control of Congress in November 7 elections, with dismay over his Iraq policy a critical factor in voter intentions.

Off the IMF site....generate investment? meaning open the doors to foreign investors/companies, what at 1470? LOL.

QUESTIONER: Regarding the Regional Economic Outlook that came out the other day for the Middle East, there were numbers there on Iraq, projecting growth of 14.4 percent next year after growth of 4 percent this year, though throughout the report it speaks of nothing really going well for the Iraq economy. Is this kind of a guess, hoping that things stabilize, or what goes into that 14.4 percent growth estimate?
MR. HAWLEY: I am afraid I have got nothing specific to add to what was in the REO comment on Iraq. The best I can do is to offer to have someone come back to you with more detail on the thinking behind that projection.
[The growth forecast for 2007 will depend on Iraq's ability to generate investment amounting to some 30 percent of GDP in total. To the extent that the investment cannot be undertaken, growth will be lower. As Box 3 of the latest Regional Economic Outlook notes, significant challenges remain for Iraq in pursuing its program of economic stabilization and reform.]

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soft loan from Japan and the willingness of Chinese and Australian support for the oil sector and development of the Iraqi

-Tariq Al-Araji
Japan granted a soft loan to Iraq of three billion and (500) million for the development of oil and gas sector in the whole country and expressed by China and Australia ready to support the oil sector and the intensification of efforts to improve them. He said Oil Minister, Dr. Hussein Shahrastani during a press conference held yesterday, Wednesday, in the b Baghdad : The visit by each recently from China, Australia and Japan resulting from the approval of the Japanese government to grant soft loans amounting to 3, five billion dollars to develop the Iraqi oil industry.
.He added that the ministry allocated one billion dollars of the loan will be used to develop the Basra refinery, and the establishment of oil floating in the port city of Basra and the addition of new units for the conversion of oil to the black oil products, adding that he met with officials of major Japanese companies specialized in the oil sector to activate all joint activities to serve the interests of Sha between friendly, pointing out that Japan also expressed its willingness to build a large refinery in the city of Nasiriyah. Shahrastani and explained that the Chinese side is also expressed readiness to support the Iraqi oil sector and direct the implementation of the contract with the private realm as well as the Al-Ahdab that most refineries will modify its own to be appropriate e with the quality of Iraqi oil, which China wishes to increase the quantities imported by pointing out that Iraq welcomed the increase in the volume of Iraqi oil exports to China because it is considered one of the major world markets in the world oil consumption.
المشار. The minister readily reached an agreement in principle with the Chinese side to set up a small refinery in Iraq to provide oil derivatives, adding that the ministry will adopt the principle of transparency in future contracts with international companies sober and be based on prospective contracts for the benefit of Iraq's economic and not on the basis of political relations had exercised the previous regime. Turning Shahrastani during the conference to plan prepared by the ministry to raise the level of Iraqi crude oil production, pointing out that it is expected to reach energy-production end of this year (3) million barrels a day and two million two hundred and fifty thousand barrels of right AIPAC South, (750) thousand barrels from the northern fields and access to four million and a half million by 2010 and that the rates of Iraqi oil exports now reach one million and seven hundred thousand barrels per day. He reported that the Oil Ministry also prepared a plan for the provision of sufficient quantities of kerosene rule of the citizens as they will be distributed (200) per liter during the the next few days for every family in preparation for the winter season, assuring citizens at the same time, the presence of large quantities of material available, especially kerosene in Baghdad, the ministry is distributing two million liters per day than among the population. The minister announced a plan to provide large quantities of liquid gas for the city of Baghdad, especially anathematize insisted terrorist target continuous pipeline for the transfer of natural gas to Baghdad rule and therefore the ministry on the transfer of this article by tanks and the Oil Ministry is working to increase the production capacity of liquid gas in the whole country and invested properly meet the needs of the country. The new oil minister reiterated that the oil wealth Yeh is the Iraqi belongs to all the people of Iraq and that wealth should contribute to the unity of Iraq and not divisions dispersed is not entitled to any contract with any company or investment fields located within their isolation from the rest of Iraq, pointing out that the proposal to establish a federal body that includes all segments of the Iraqi people throughout the specialized adoption Kwan Yen Investment oil fields and the study of contracts for the implementation of these projects, Shahrastani denied an intention to increase the prices of oil derivatives in the current stage.

Baghdad Mahdi Karim Tai, the Samurai
Dr. Hassan Abdel farmer Sudanese Minister of Trade, the grant will be distributed among citizens of Eid early next week ... With confirmed that the ministry was taking strict measures to prevent the supply of children's toys of plastic arms to Iraq in view of its negative effects and dangerous. It deposited the accounting department in the Ministry of Finance grant amounts holidays at the expense of the Ministry of Commerce of the People

The distribution among citizens. The Sudanese during his meeting with reporters yesterday, Wednesday, at the headquarters of the Ministry and the presence of "morning" : The ministry has set next week to start distributing grant Eid endorsed by the Cabinet recently and 10 thousand dinars of every citizen recorded within the ration card. He pointed out that the distribution is carried out through banks, Rafidain and Rasheed banks and the civil and within the geographic area, which represents the closest point to housing families covered by this grant. The Minister further period of three months of receipt of the grant by the families and otherwise abolishes the right of the citizen to claim after this period will be the remaining funds to the state treasury. He called on citizens to review the status of the earliest delivery belongs to the ministry in the event of difficulty in identifying the location of the bank, which is the process of payment of the grant them ... He emphasized that the Central Bank of Iraq provided the necessary funds to all banks in coordination with the ministries of trade and finance. Dr. Sudanese that the ministry formed specialized controls to prevent the supply of children's toys of plastic arms and taking strong action and penalties against traffickers who bring this type of children's toys to Iraq ... Because of the significant adverse impact on the upbringing and development of children by the embodiment of the manifestations of violence in society, in addition to children's exposure to hazardous damage to their bodies because of the use of these games. On the other hand, the Ministry of Finance said that the accounting department deposited grant amounts allocated by the Feast of the cabinet at the expense of the citizens of the Ministry of traders e rights and distribution, including its opinions Menaspawachart according to the ministry to clarify the "morning" received a copy of the financial procedures followed in this regard, where fundamentalism that by relying deal with the Ministry of Trade to be directly and not through agents ration. It showed that the Finance Minister Baqer Jabr Al-Zubaydi show his big p I facilitate procedures of the ministry, especially regarding the citizens.
The Ministry of Trade said in a press statement that the delayed payment of a grant feast comes because of the refusal of the Finance Ministry for distribution mechanism prepared by the Ministry of Commerce.

http://64.233.179.104/translate_c?hl...er.php%3Fsourc e%3Dakbar%26mlf%3Dinterpage%26sid%3D32268

Sorry if this been posted!

Baghdad Haider spring
Iraq intends to increase the volume of investments in oil under the new law, oil and gas, it will be re-consideration of all contracts signed during the era of Principles in the negotiation. Reports indicate Iraq has sought to re-develop the Al-Ahdab oil field in southern Iraq, which will enhance oil production in Iraq with 90 thousand barrels a day.

In this regard, Dr. Hussein Shahrastani oil minister that Iraq and China would undertake talks on reviving the oil contract to develop Al-Ahdab oil field, that was agreed upon in the era of the Principles.
Shahrastani said in a press interview during his visit to Beijing recently : the representatives of the Iraqi Oil Ministry and the oasis company partly owned oil company China National will begin work soon to activate the contract has met the minister, who had arrived from Japan with senior officials of the government oil companies only fourth in China.
It is expected to produce Al-Ahdab field, which is located in southern Iraq about 90 thousand barrels per day and if the agreement has been reached between the two sides, this will be the first foreign oil contract granted by Iraq, according to the law of oil and gas due to be issued shortly.
He Shahrastani during his speech to the companies that will work in Iraq at the present time is only possible to have an opportunity to obtain contracts, pointing out that the Iraqi and Chinese sides realize the importance of cooperation and the need for each other.
The Petroleum Ministry had recently started a work plan, designed to attract large foreign companies to invest in the Iraqi oil sector, as recently contracted with a number of companies to add new production units of the refinery to reach productive capacity of 180 thousand barrels per day, especially as the design capacity of the liquidator of approximately 110 thousand barrels and that it is working to increase the production capacity of the refinery to more than 180 thousand barrels per day. It was actually contracted with the company (STP) for the establishment of the Italian unit Azmerh new refinery in the session for the addition of a new unit of the refinery manufactures rule units involved in improving the quality of gasoline.
He said Shahrastani also : All contracts signed in the era of the Principles will be negotiated in line with the new law on oil and gas, which had Igiraidha volume of investments in the Al-Ahdab field, estimated at around 700 million
Dollars.
He added that Iraq is seeking to increase its oil production by 20% to reach three million barrels a day by the end of this year.
He pointed out that Iraq hopes to increase total oil production by between 4-4.5 million barrels per day by 2010 if it succeeds in attracting investments to develop the discovered fields and 80 gas fields.

Justice / follow-up announced eleven banks Iraqis, and with the direct support of the Iraqi Central Bank and USAID for the establishment of the Iraqi loans, which means the provision of financial liquidity for those wishing to establish small enterprises,

Regarding this project, which applied for the first time in Iraq, a banking expert said, Izz al-Din Muhammad Abid of the Iraqi Central Bank, who said in his interview that the company is considered complementary to the Iraqi Company for bank guarantees, which the companies announced soon. , which was founded a total capital amounted to three million and a half million dollars to promote access of small and medium-sized enterprises and micro-enterprises eligible in Iraq. on loans from private banks. in addition to supporting the use of modern practices of the credit and international banking standards in granting loans to small and medium-sized enterprises, All of this is in the objective foundation of the State of contributing to the sustained economic growth in Iraq. In particular, the support and development of the private sector, and to give small and medium-sized enterprises this importance stems from the fact that share the spirit of individual initiative. direct any individual project work to improve the standard of living, It should also be noted that these projects constitute a significant proportion of the economic activity of many countries in the world, with different level of development, whether developing or developed, constitute a high proportion of enterprises that contribute to the development of a high rate of the economies of these countries, especially developed. And also contribute such projects to generate self-employment and jobs and contribute to help the task groups in the labor market, as well as the enjoyment several advantages, they mainly operate equipment simple and low-cost local materials and within a limited area, also working skills and technical background and the possibility of easily adapt to the new circumstances in the market and rapid response to their needs, Finally contribute to the rehabilitation or changing the infrastructure or equipment, tools such as the development of agriculture, construction or production of commodities essential services in times of crisis. In response to a question concerning the establishment of this company to study the conditions of the projects in Iraq and the possibility of exposure of the profit or loss between the Izz al-Din that, in spite of facing small and medium-sized enterprises of the numerous problems and challenges, especially in times unstable security but, as much as it is the banking system, these projects just came the problem of cash funding for the establishment and support of these projects, For this purpose is the establishment of the Iraqi company for bank guarantees for the time being the mainstay of such projects, in order to assist them in obtaining loans from banks to participate special Iraqi capital of the company, in addition to helping those banks through the utilization of the amount of the guarantee for the development of a loan management and managing risks, knowing that the company owned by the (11) Iraqi banks and supported by the Central Bank of Iraq, Because of the importance of the role played by the company in deepening the role of the Iraqi market. The amounts vary according to the type of security risks associated with them, as volume up security to 75% of the value of the original loan, which ranged between $ 5000 to $ 25000. The company's operations are based on the development of institutions and financial capacity-building for banks and the company itself at the commercialization and application of loan guarantee program, It will cover the company's activities throughout Iraq by the network branches of the banks involved in such comprehensive coverage, It will assist small and medium-sized enterprises to enter the world of credit to all governorates of Iraq. It will ensure the company through bank loans made by participating banks to provide loans with a high level of quality in the productive and service projects, agricultural and commercial, We can say that the company had achieved a step or steps forward through the development and modernization of the Iraqi banking system.

http://64.233.179.104/translate_c?hl.../modules.php%3 Fname%3DNews%26file%3Darticle%26sid%3D7222

Originally Posted by Adster

Interesting about the IIF rumour about the troops being paid in dinar and told not to spend it till 15th........like to hear more on this........



http://www.rolclub.com/iraqi-dinar-d...d=1#post129059

no where in my 12 years of military nor my grandfathers 27 years of service have they ever gave deploying troops some other countries money with 1 exception.


military intel to pay informents and such


i have to wave the bs flag on this for the following reasons


1. 9 for 10 military personel are not allowed on the local economy (to risky)
2. the shops on most base/camps take dollers ( and cash at that ) they may sell dinar (most under the table or as collectors items ) but they sure as hell wont take it over dollers in a sale on base.
3.intel units ( at least army and air force ) dont normaly deploy in that large of force ( not more than a team normaly and almost never larger than a company)
4.80k troops is a division or major command no way in hell are they going to give that many people cash of any kind.. theres no way to track it and EVERYTHING in the military has to be signed for ( even chow )
5. and ImHo the key to this... Consider the source ( i cant even find the post on iff )

This is where we need to keep a regular look as it'll be where they publish Article V111.....

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