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

Posted on Sunday, November 19 @ 04:12:25 PST
Topic: Iraq
Redline Communications, a provider of standards-based broadband wireless equipment, and IRAQTEL, the telecom subsidiary of Al Emaar Holding Group - Iraq, announced Nov. 18 that it will deploy the first WiMAX network in Iraq using Redline's WiMAX Forum Certified RedMAX products.

Vision Valley, a specialist in systems integration, network design and implementation, will provide its regional expertise to ensure the effective establishment of the network. IRAQTEL will deliver advanced voice and broadband services to thousands of businesses and residents throughout its region via the Redline network.
IRAQTEL will begin its RedMAX deployment in Basrah, and will expand its WiMAX network to include additional regions across Iraq. According to a Redline Communications announcement, the Redline solution will enable IRAQTEL to quickly and cost-effectively establish broadband wireless network to deliver the voice and broadband services its enterprise and government customers need and extend its network to reach more businesses, residents and municipal organizations.
"IRAQTEL has been searching for a WIMAX solution that would provide a cost-effectively alternative to VSAT networks, which have been the only available solution for establishing broadband connections because of the lack of copper line infrastructure ," IRAQTEL Chairman Sheikh Fawzi Al Lami said. "We chose Redline's RedMAX products to establish a carrier-class telecommunications backbone capable of supporting a scalable, high performance network."

As the first to bring WiMAX technologies to Iraq, IRAQTEL joins a growing roster of leading telecommunications carriers that have chosen Redline's RedMAX products. The most widely-deployed WiMAX Forum Certified system, RedMAX enables carriers to establish WiMAX networks that will deliver the performance and features they need to deliver increasingly advanced communications services and expand their subscriber base over time, according to the announcement.

"In choosing RedMAX, IRAQTEL has demonstrated its commitment to meeting the communications requirements of its growing customer base," Majed Sifri, Redline Communications President and CEO, said.

"IRAQTEL will deploy one of the world's most advanced WiMAX networks to address the lack of existing communications infrastructure with a vision to serve the people of Iraq with innovative and affordable wireless communications services."

"We have worked closely with Redline to design and deploy the WiMAX network for IRAQTEL and other major telecommunications companies throughout the GCC," Mahir Elfadil, Vision Valley Chief Executive Officer, said.

Source: Portal Iraq

Posted on Sunday, November 19 @ 04:13:43 PST
Topic: Oil
Ministry of Oil prepared a plan to refer many of building refineries and production units to international companies beginning at start of next year, an authorized source at the Ministry said.

He stressed that Ministry prepared a plan to invest much of oil fields which contribute in rising of Iraqi crude oil production and he showed that developing these fields would continuo to five years.
Source: Al Sabaah

Please excuse if this has already been posted. thank you.

Posted on Sunday, November 19 @ 04:08:12 PST
Topic: Oil
Norwegian oil producer DNO sees no threat to its output contract in northern Iraq as the Kurdish and central governments tussle for control of oil, the company's chief executive said yesterday.

"Nobody in central government has told us they are concerned about the legality of these contracts," Helge Eide told reporters in London.
DNO was the first company to drill for oil in Iraq after the US-led invasion in March 2003. It intends to start output in the country's north in the first quarter next year under a production-sharing agreement it signed with the Kurdish regional government (KRG), Reuters reported.

But Iraqi Oil Minister Hussain Shahristani has insisted on central control of oil and says he wants to review deals the Kurds have signed with foreign oil companies, including DNO.

DNO has discussed the production agreements with Iraqi government officials and has not been informed of any objections to the contracts, Eide said.

"We have had several meetings with people from central government on these issues and there has been no communication back to us of any problems," he said.

Like many other oil companies eyeing potentially lucrative future production deals, DNO has a deal with central government to train oil ministry personnel and share technology, Eide said.

The KRG has offered to share its oil revenue with Baghdad, he said, and he expected the two to come to some agreement.

The main sticking point for a policy committee drawing up a draft oil law for Iraq is whether development contracts would be signed at a regional or national level.

The issue is critical to whether more power over resources will go to the Kurds and the majority Shi'ites, who populate the oil-rich south. Minority Sunni Arabs fear regional devolution will leave them with nothing.

Exports of DNO oil from its 50,000 barrels-per-day Tawke field in northern Iraq will be pumped through the northern export pipeline to Turkey.

But to use the pipeline, KRG will have to come to an agreement on transit fees with central government.

Eide said that he was confident KRG would strike a deal.

But there is no readily available alternative export route, so if the deal is not struck DNO would have to put back the start-up date.

"We have to rely on KRG to ensure this is in place," he said. "According to our understanding they are making good progress."

DNO will build a 50-kilometre pipeline from Tawke to connect to the northern pipeline to export the oil. The connection will be far to the north of the sections of the line that have suffered repeated sabotage, Eide said.

The northern pipeline has been mostly unusable for exports from the Kirkuk oilfields to Turkey due to sabotage attacks since the invasion

Originally Posted by garthstar

i went throug chinese and australian customs recently with 4m in my belt bag.

they didnt even look in it. hassled me about my african drum cos its made of wood (gasp! - oh no bad boy...)

i would say if you were to fly with the cash to sayshelles or switzerland, say with the 25 000 notes in your laptop bag or briefcase there wouldnt be a problem unless you had a knife sitting on top of it to set off the metal detector.

another option, is to sell it to a 3rd party forex company, who will probably give you a better rate than the bank (well thats their only business so thjeyd have to wouldnt they?) and have them wire the amount straight to the swiss bank from their account. hopefully they can have it wired from their offshore accoutn as well if there are an international company. therefeore there is not even any transaction at any bank locally....

if you are really serious about this whole thing, a freind told me that you can purchase with your money a rare collectable stamp or two, you can get them worth millions, fly to switz with it in your wallet, sell it there, bank the money.

thats the absolute safest, cos no one is gona find 2 little stamps on you at customs.... and it leaves not a trace.

as far as the swiss government are concerned, taxation and even marital issues, are "personal matters" and your swiss bank, bound by swiss law, will not budge. your funds are safe there even from an ex spouse, or tax office.

theyll only cross that "privacy line" if your a drug dealer or terrorist.

and we my frinds, are speculators.

my wife and i have actually ended up staying together thru this whole thing (just), which is crazy in a good way.

however, the account will be in my personal name only at the bank. ill just give her 100k or so every now and again to buy some clothes, and pay for eveything.

that way, she gives me any trouble, well, she cant can she!

good luck all. the fact we talking about all this makes today a gr8 day.

The REAL 007......................

Oh my gosh! And I thought I was bad! Now this guy is a mans man!

Originally Posted by Wm.Knowles

I have always believed that this process of decreasing the base money supply was exactly what you would expect prior to a reevaluation of the currency. So to answer your question, yes I think they are positioning themselves prior to an RV. When and how much is harder to guess. But this has been very good news for us and suggests better things to come. Thank You

With the current trend of the CBI buying Dinar, when do you think or what amount will they purchase before they cease buying and r/v the Dinar. As well could you possibly calculate the amount of Dinar in circulation compared to the amount in reserves and possibly calculate an estimate of amount of an r/v.

thanks

Originally Posted by PaulieThaGreat

In my opinion with any circumstance that has a chance of creating a "Pandoras Box" there has to be some kind of evil or greed within a person which I feel I do not hold. Your thoughts are well apreciated but dont really hold relevance to me.

1st sorry Neno for posting this here......That's only part of the equation. The major factor is making mature, responsible, well thought decisions. In other words think before you act or say anything. In your young mind I'm sure your biggest reason is financial independence. And that's a good start, but anlong with this comes tremensous responsibility. All I am saying Paulie is just be responsible. Enough said.

Originally Posted by PAn8tv

1st sorry Neno for posting this here......That's only part of the equation. The major factor is making mature, responsible, well thought decisions. In other words think before you act or say anything. In your young mind I'm sure your biggest reason is financial independence. And that's a good start, but anlong with this comes tremensous responsibility. All I am saying Paulie is just be responsible. Enough said.

Well I apreciate your kind words and wisdom. I will deffinitly take this into account when this happens and try to store about 80% of the money away for the future.

Sure seems like that have some kind of law/policy with limitations. any ideas? thank you.

This discovery (520) oil and gas fields Gazia..
Baghdad-Tariq Al-Araji

.The Oil Ministry has prepared a plan for the transfer of a number of building projects refineries and production units in different regions of the country to international companies and will be direct with the beginning of the year (2007) to the number of oil and gas fields discovered in the whole country (520) minefields containing large quantities and promising.

.An official source at the Oil Ministry told (morning) : The ministry was about to refer the project to build refinery Karbala The capacity (140) thousand barrels a day refinery in the northern region of Cuba card (70) thousand barrels a day and the addition of productive units of the refinery capacity (70) thousand barrels daily to a number of international companies over the next year.

.He added that the year (2008) will see the addition of another unit of the Al-Dawra refinery capacity (70) thousand barrels a day and the unity of b (70) thousand barrels of Basra refinery, pointing out that the completion of these projects will contribute effectively in the provision of oil products and used in large quantities to be imported from Iraq's neighboring countries, and in large amounts.

.On the other hand, the Ministry of the discovery of oil (520) oil and gas fields Gazia in different regions of the country and that the ministry had prepared a plan to invest in large part in the next stage, especially now that it invests Limits (20) - A only.

.The source added that the ministry had prepared a plan to invest the large numbers of these fields, which will contribute to increasing the production of Iraqi crude oil will impact positively on increasing the volume of oil exports in the coming period, pointing out that the development of oil fields discovered continue for a period of five years, and this escalated and the Ministry of Oil of intensifying and extending the studies bidders for the purpose of investing these promising fields.

. The source added that the ministry is now investing (20) up out of the oil fields of (520) - A because of a lack of funds, lack of spare parts and the amount of this respect and therefore sought to find alternatives to increase the volume of investment of these fields which are considerable wealth to the Iraqis and Alag Yale future

Theft and extortion of Iraqi banks unchecked
Robbed of 1.15 million from the Rafidain Bank
Source : Dar Al-Hayat-19 / 11 / 2006

Description banking Fouad bono, President of the Association of Iraqi banks and the Executive Director of the Bank of Credit Iraqi who owns the National Bank of Kuwait for 85% of the shares, the sector is currently the case in Iraq as very difficult, The exceptional performance of banks has become absolutely. It also requires exceptional protection in light of the fears that exist in everyday workers by exposure to risks in the absence of effective precautionary measures to be provided by the authorities concerned.

Bono was talking to Al-Hayat »« on the number of robberies, extortion and kidnapping against the Iraqi banks continuously without any practical deterrent to carry them out, most of the gangs that have become a daily threat to the security of the citizen and the state and its institutions, He referred in this connection to the unknown armed robbery last Friday at a branch of the Rafidain Bank «government» in the pratha in Attivih north of Baghdad, killing three members of the Iraqi police and one of the members of the protection of installations and then they broke into the bank after it broke Khoznth and stole one amount, 650 billion Iraqi dinars ($ 1.15 million) was found in the investigations that the gunmen had used oxygen gas to break safe and then stole money.

Bono explained that the Association of Banks Iraqi visualization fully what must have procedures to protect private «where we look from the security apparatus more effective action to protect the sector. The Association has prepared a report in this regard and then discuss the content with several bodies especially relevant institutions sector, particularly the Ministry of Finance and the Central Bank of Iraq where duty requires assume full responsibility in the protection of government and private banks alike and to serve the goal of protecting public funds and private ». He added that several banks had «been subjected to acts of armed robbery and theft of funds and assets during the first days of the recent war on Iraq. The increased lawlessness after the recurrence of such incidents despite the imposition of strict security escorts on the banks particularly Manjanb of banks themselves », but Hasani pointed to the need to adopt unconventional measures to protect the sector commensurate with the nature of the security situation worsening in the country.

He adds this regard, that view frustrating not to create conditions to the banking and financial Arab and foreign countries still have hopes can work in the Iraqi arena, despite the security risks posed to them, «is common in the approval of the Central Bank of Iraq finally to the request of six Arab and foreign banks opening branches in Baghdad».

COMPARISON OF LAST 10 AUCTIONS.....

Number of banks:
11/2/06 (16)
11/7/06 (14)
11/8/06 (20)
11/9/06 (14)
11/12/06 (10)
11/13/06 (17)
11/14/06 (15)
11/15/06 (19)
11/16/06 (12)
11/19/06 (12)

Auction price selling dinar / US
11/2/06 $1470
11/7/06 $1468
11/8/06 $1466
11/9/06 $1465
11/12/06 $1465
11/13/06 $1465
11/14/06 $1460
11/15/06 $1455
11/16/06 $1454
11/19/06 $1452

Auction price buying dinar / US
11/2/06 $ ----- -----
11/7/06 $1466
11/8/06 $1464
11/9/06 $------ -----
11/12/06 $1463
11/13/06 $1463
11/14/06 $------ -----
11/15/06 $------ -----
11/16/06 $------ -----
11/19/06 $------ -----

Amount sold at auction price (US $)
11/2/06 70.245.000
11/7/06 109.150.000
11/8/06 97.010.000
11/9/06 70.180.000
11/12/06 24.880.000
11/13/06 110.265.000
11/14/06 62.540.000
11/15/06 64.960.000
11/16/06 39.945.000
11/19/06 31.495.000

Amount purchased at Auction price (US $)
11/2/06 -----
11/7/06 3.000.000
11/8/06 3.000.000
11/9/06 ------
11/12/06 2.500.000
11/13/06 2.600.000
11/14/06 ------
11/15/06 ------
11/16/06 ------
11/19/06 ------

Total offers for buying (US $)
11/2/06 70.245.000
11/7/06 109.150.000
11/8/06 97.010.000
11/9/06 70.180.000
11/12/06 24.880.000
11/13/06 110.265.000
11/14/06 62.540.000
11/15/06 64.960.000
11/16/06 39.945.000
11/19/06 31.495.000

Total offers for selling (US $)
11/2/06 ----- -----
11/7/06 3.000.000
11/8/06 3.000.000
11/9/06 ------ -----
11/12/06 2.500.000
11/13/06 2.600.000
11/14/06 ------ -----
11/15/06 ------ -----
11/16/06 ------ -----
11/19/06 ------ -----

US Dollar
USD
11/2/06 1470.000
11/2/06 1469.265
11/7/06 1470.000
11/7/06 1469.265
11/8/06 1468.000
11/8/06 1467.266
11/9/06 1466.000
11/9/06 1465.267
11/12/06 1465.000
11/12/06 1464.268
11/13/06 1465.000
11/13/06 1464.268
11/14/06 1465.000
11/14/06 1464.268
11/15/06 1460.000
11/15/06 1459.270
11/16/06 1455.000
11/16/06 1454.273
11/19/06 1454.000
11/19/06 1453.273