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

Al-Sunaid MP calls Gates to get rid of the legacy of Rumsfeld

(Voice of Iraq) - 11-20-2006
This issue was sent to a friend

Baghdad-d b a : Deputy prominent Shiite Iraqi Parliament in statements published yesterday, the new American Secretary of Defense Robert Gates, not to rely on the bank inherited from the former minister, Donald Rumsfeld, on the assessment of the political and security realities in Iraq ·
He said Hassan Al-Sunaid member of the Shiite United Iraqi Alliance, the largest parliamentary blocs dominant in the House, in a statement to the newspaper "Assabah" Iraqi government yesterday, "the new American minister not depend entirely on the bank inherited from the" Pentagon "on the assessment of the political and security realities of Iraqi" · He added, "we must have the new body depends on a number of facts, in this new stage," ·
The Al-Sunaid the situation in Iraq in light of the era Rumsfeld as "backward and unproductive in terms of both security and political support for that would have to adopt the new minister to put up the security and strategic projects confirm the accuracy of the information on the Iraqi reality" ·
"He said that the ambassador of the United States in Iraq Zalmay Khalilzad had not creative channel between Washington and Baghdad and the Gates to think out of the crisis, but not the development of Iraq and the whole region into a new crisis" · The American President, George Bush has accepted the resignation of Rumsfeld after the victory of the Democrats in the mid-term elections for the House of Representatives and Shio x 7th of this month and nominated Gates to be his successor ·

The Emirates

Translated version of http://www.newsabah.com/

No. (724) in 20 / 11 / 2006

the decline and the relative stability of the market controlled Iraq securities for the fourth consecutive year

Baghdad : Ali Jasim In the fourth meeting this month is still Irah Iraq market for securities and stability between the decline in the volume of shares traded, this meeting has seen the circulation of shares of the company (28) reached the number of shares traded (579) million shares exceeded the value (1.140) billion dinars through the implementation (358) contracts and the general index closed the market (26.363) points by a low (0.336%) of the previous meeting. In the banking sector deliberated shares (11) banking firm which rates increased prices of shares and the company is the only one by the North Bank (3.23%). while the rates the shares (3) companies are by the Iraqi Investment Bank (5.88%) and the Dar es Salaam by the Bank (5.81%) and the Bank of the Middle East (by 3.70%). maintained (7) companies on the same rates the shares at the previous meeting and Commercial Bank and the Bank of Baghdad and the Islamic Bank and the Iraqi National Bank and the Bank of Babylon and the Asian economy and the Bank Alorka, The banking index closed b (37.312) points by a low (0.416%) of the previous meeting. The share of the banking sector of the number of shares traded exceeded (483) million shares and rate of (83.5%) of the total number of shares traded and its value exceeded (1.006) billion dinars, or (88.3%) of the total volume. Alorka Bank and achieved the highest proportion in terms of the number of shares traded and the volume of trading amounted to (19.8%) and (21.7%), respectively, in terms of the number of shares traded and the volume of transactions of the banking sector, after the circulation was more than (95) million shares valued exceeded (218) million dinars. The manufacturing sector has been circulating shares of the company (12) rates dropped prices of shares (3) companies, the National Company for Food Industries, where they were originally circulation for the first time after the capitalization of the company's profits (by 50%) and a modern sewing company (5.56%) and the dates by the Iraqi (3.7%), I have maintained (9) companies on the same rates the shares at the previous meeting of Nineveh is a company in the food industry and the company carpets, upholstery and beer company and the company of Eastern Baghdad for carbonated beverages and the company of light industry and chemical manufacturing company, and company electronic industries and the company Kayf construction materials and Finally manufacturing company cartoons and the industrial index closed b (11.776) points by a low (0.016%) of the previous meeting. The company achieved Baghdad for carbonated beverages, where the highest proportion of the number of shares traded and the volume of trading in the industrial sector amounted to (63.8%) and (58.6%), respectively, of the number of shares and trading volume in the industrial sector, After deliberating more than (52) million shares worth more than (55) million dinars. In the hotel and tourism sector have been circulating shares, only one company is the Al-Mansour Hotel has circulation share price (35.750) high rate (2.14%) from the previous meeting, The index closed the hotel and tourism (11.145) points high rate (0.387%) of the previous meeting. In general circulation was (28) out of a total of (91) is a joint stock company listed on the market. rates increased prices of shares (3) companies and the rates dropped prices of shares of companies (9) with (16) maintained the company at the same rates the previous prices, It still (26) the company stopped trading because of the its annual general and the implementation of the resolutions of public bodies and (12) the company stopped trading on the decision of the Securities Commission of Iraq.

Originally Posted by "GK"

It's at 14T last CBI update, I estimate it to be at the 11 to 12T now.

Thanks GK, from which document are you reading this figure? 14T

Translated version of http://www.newsabah.com/

No. (724) in 20 / 11 / 2006

source in the Central Bank : No change in the Iraqi currency now


Baghdad : Al-Sabah Al-Jadeed An official source at the Central Bank of Iraq that the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage Mekdaali that there is no intention at present to the bank to change the Iraqi currency. With regard to the supervision of the local banking activity in Iraq by the Central Bank of Egypt and means of reform, The source pointed out that the Central Bank will supervise banking activity level by the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. He added that the Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. He pointed out that this step is the beginning of cooperation and openness to the world towards the revitalization of the economy in Iraq, stressing that the Central Bank of Iraq still continue to sell the American dollar against the Iraqi dinar through a daily auction to be held by noting that this auction is a tool to achieve stability in the value of the Iraqi dinar by defending the exchange rate stable for a long time. This, in turn, will affect the general level of prices.

Voices of Iraq: Iraq-Syria-Update 1
Posted by: nadioshka on Sunday, November 19, 2006 - 04:37 PM

Iraq-Syria-Update 1
Moallem in Baghdad, first visit by Syrian official to Iraq in 25 years
By Wathiq Ismail
Baghdad, Nov 19, (VOI) - Syrian Foreign Minister Walid al-Moallem arrived in Baghdad on Sunday in the first visit by a senior Syrian official to Iraq in 25 years, the Iraqi foreign ministry said.
“Moallem arrived in Baghdad in Sunday afternoon in an official visit that would last several days,” a foreign ministry statement said.
“Moallem would hold official talks with Iraqi officials about bilateral relations and issues of mutual interest,” the statement said.
Talks would likely focus on complaints often aired by Iraqi officials about infiltration by militants into Iraq through the Syrian borders, Iraqi sources said.
Relations between Iraq and Syria were broken in 1980.

Iraq-Syria-Update 1 :: Aswat al Iraq :: Aswat al Iraq

Translated version of http://www.newsabah.com/

No. (724) in 20 / 11 / 2006

the signing of the Charter of the "sincere" between the social and political forces in Maysan

Amarah Nizar Abdul Wahid : Signed political and social forces in the governorate of Missan Jamahali Charter era sincere to resolve the crisis situation and to assign the work of the security committee, which assumed the responsibility of leadership and the leadership in maintaining security called Charter sincere. He said Dr. Nima effective Alliaoui adviser to Mr. Prime Minister, in a statement to Saba h new : The Charter has been shaped by the efforts of the political forces of the parties and movements and the Office of the martyr Sadrvi Amarah been received draft Charter, with the addition of a central government mechanism. He added : The Charter consisting of eight items represent a legal and moral imperative to support the work of the security committee, which began its work in preserving land becomes ripe for maintaining the stability of security. Under the provisions of the Charter that conceal all manifestations of unlicensed arms in all parts of the preserve and keep arms in the hands of members of the army and the mother faith only be responsible for the security services and their responses to the maintenance of security and order, To Does anyone else to claim their participation or replace them in their work is not entitled to any political summon citizens to be investigated only by the competent bodies and support the work of the security committee and will maintain all components of the guidance to support the Prime Minister in the work of the security agencies to overcome the repercussions of the recent crisis , and activate the role of law and there is no red lines to the work of the security services in carrying out inspections and raids and arrests to be approved by the court orders and in accordance with the law and have their work professionally and otherwise punished under legal controls. Charter officials asked the local authorities to maintain upgrading work to serve the people of the governorate without discrimination also asked the Prime Minister to issue orders to develop a plan to train and rehabilitate and reconstruct the distribution of employees of the security forces to make their work professionally to serve the law and the rehabilitation of factories suspended production and support the needs of cascade. Tao agricultural projects and the creation of service and improve health and economic reality and service and the creation of employment opportunities for the people of the governorate. The conference rally was held Friday, attended by government delegation, headed by Minister of State for the clan, Mahmoud Abbas Aribi and adviser to the Prime Minister and the Governor and the President of the Missan governorate and the members of the security committee and representatives of political parties and movements and the offices of religious and tribal leaders and social figures in the province. And blessed the political and social forces, and signed the agreement promised to maintain a good omen. He said Sheikh Abdel Hadi al-Mahmadawi's Deputy, also clarified an official at the office of martyr al-Sadr in Amarah : Charter congratulate all the efforts to maintain stability and Mr. Muqtada al-Sadr had issued orders to his followers to maintain calm and the need to hide armed manifestations. Park Director of the Charter and the Badr Organization Branch Maysan Kazem Abd al-Rida, who expressed delight that the signing of the Charter, especially since all the symbols of preservation had met to approve this very important document and decide So all requests for the achievement of security and stability and commit ourselves and others to be proactive to achieve these demands.

Not sure if I got the whole article posted so here it is again just in case I missed any of it.

Translated version of http://www.newsabah.com/

No. (724) in 20 / 11 / 2006

Economic: Source in the Central Bank : No change in the Iraqi currency now
Baghdad : Al-Sabah Al-Jadeed An official source at the Central Bank of Iraq that the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage Mekdaali that there is no intention at present to the bank to change the Iraqi currency. With regard to the supervision of the local banking activity in Iraq by the Central Bank of Egypt and means of reform, The source pointed out that the Central Bank will supervise banking activity level by the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. He added that the Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. He pointed out that this step is the beginning of cooperation and openness to the world towards the revitalization of the economy in Iraq, stressing that the Central Bank of Iraq still continue to sell the American dollar against the Iraqi dinar through a daily auction to be held by noting that this auction is a tool to achieve stability in the value of the Iraqi dinar by defending the exchange rate stable for a long time. This, in turn, will affect the general level of prices.

Originally Posted by jedi17

The CBI controls the currency. The IAMB meeting which is to take place in DEC 12-13 which people are talking about is to report on oil sales. The Role of the IAMB is as follows:

1. Ensure DFI is used in a transparent manner for the benefit of the people of Iraq.

2. Export sales of petroleum, petroleum products, and natural gas from Iraq are made consistent with prevailing international market best practices.

DFI- development fund for Iraq

The UN controls oil sales in Iraq I think...therefore it would appear that the meeting in Dec. may have little impact on a R/V. I hope I got this right and helps a little. Anyone can add to this or correct me if I'm wrong.

i tend to agree and i think all along we have been waiting on that compact signatures.

Originally Posted by CharmedPiper

Translated version of http://www.newsabah.com/

No. (724) in 20 / 11 / 2006

source in the Central Bank : No change in the Iraqi currency now


Baghdad : Al-Sabah Al-Jadeed An official source at the Central Bank of Iraq that the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage Mekdaali that there is no intention at present to the bank to change the Iraqi currency. With regard to the supervision of the local banking activity in Iraq by the Central Bank of Egypt and means of reform, The source pointed out that the Central Bank will supervise banking activity level by the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. He added that the Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. He pointed out that this step is the beginning of cooperation and openness to the world towards the revitalization of the economy in Iraq, stressing that the Central Bank of Iraq still continue to sell the American dollar against the Iraqi dinar through a daily auction to be held by noting that this auction is a tool to achieve stability in the value of the Iraqi dinar by defending the exchange rate stable for a long time. This, in turn, will affect the general level of prices.

What does that mean???

Are they referring to no reprint or no issuing new denoms? And what about the stability of the dinar--it's been at the same facking rate for almost 3 years now. Are they saying that they are going to continue to use the auctions to maintain 145something??

I don't get it....<shakes head as she reaches for the bottle>

All my bannanas have gone to sleep, and if this doesn't happen soon, I'm going to be makin me some bannana nut bread!

Originally Posted by pipshurricane

I will like to add then the CBI can not do a R/V without the approvement of the worldbank and the IMF.Sorry no link so you have to believe me or not

and if you recall they BOTH made the statement in sept/october that 'IRAQ SHOULD REVALUE THEIR CURRENCY'.