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

Originally Posted by shotgunsusie

here's the last two security auctions listed new today which were cancelled. due to no banks participating. im sure thats what has happened with todays auction, there would be no auction if no banks participated.

ok, this gets me excited. how 'bout you all???

It's interesting that the CBI has been pulling all the strings with it's fiscal policy. I wonder if the banks decided they were not going to participate. That would surely change things wouldn't it. The shoe would certainly be on the other foot. We'll see shortly I'm sure.

Coincedence or not that this is coming out right now! I think Iraq has fullfilled their obligations. We need some answers today!


$ 100 million from the World Bank to support education in Iraq
Washington-(Voices of Iraq)

The World Bank agreed to offer a loan to Iraq worth 100 million dollars to help support education. It is the first loan by the International Foundation for Iraq for more than thirty years.

The Bank said in its website on the Internet that the Bank Board of Executive Directors approved on Wednesday a loan to Iraq for the implementation of the project educational emergency III valued at $ 100 million to assist the Iraqi government in alleviating overcrowding schools, and laying the foundations for the reform of the education sector.

He added that the project builds on the successful two to two previous grants were financed by the World Bank PANI Iraq, two draft textbooks at a cost of 40 million dollars. The project for the construction and rehabilitation of schools, at a cost of 60 million dollars.

The Iraqi education system has deteriorated over the last twenty years, , which led to poor educational conditions and low enrollment rates.

Faced with the education system since the fall of the former regime in April 2003 April challenges caused by the lengthy delays in the construction and maintenance of schools, human resources development, The development of policies and regulations.
He said Peter Bakland Chairman of the Working Group on this project, "school overcrowding is one of the main factors that contribute to low enrollment rates, The number of teachers more than doubled the number of classrooms, also, about 20% of primary and secondary schools operate under two or even three study periods. "

The project will be funded educational emergency third of the construction and processing of about 82 primary and secondary schools in 15 governorates new, The benefit about 57000 pupils and students.

He added that the project will introduce new standards for the design of schools, It will help the Iraqi authorities in the formulation and development of a national program for the construction and maintenance of schools, It also would finance a comprehensive program to support the reform of the education system.

The bank indicated that the Iraqi Ministry of Education will implement the project and will contract with an Iraqi construction companies.
The maturity of this loan, 35-year comprehensive a grace period of 10 years.

ÇáÈäß ÇáÏæáí-ÇáÚÑÇÞ-ÞÑÖ :: Aswat al Iraq :: Aswat al Iraq

Raising interest rates is not a positive impact on inflation in Iraq
Raising interest rates is not a positive impact on inflation in Iraq
Source : statement UAE-30 / 11 / 2006


The level of savings in Iraq deteriorated markedly, especially with the burden of living which has borne the Iraqi citizen in the light of the current phenomenon of inflation, The volatile situation of the various consumer goods and service sectors. This is called the Iraqi Central Bank to a recent amendment to the approved interest rate has become 12% after it was 10%. bid for interest rates play a role in raising levels of saving and maintaining the level of deposits with banks. He said planning Ghalib Baban that the Central Bank's decision, which came after extensive study by the stakeholders, also aimed at encouraging people to the capital by citizens in general on saving. Here, the question arises in light of the reality of living is : the feasibility of raising the level of interest at the high prices, It is not resources that can be won with limited incomes to cover daily requirements. Is that the process of raising the interest that brings the owners of capital at the time they face their capital abroad. According to the Director of Research at the Central Bank of Iraq, Dr Mohamed Saleh appearance : the Central Bank of Iraq is responsible by virtue of law No. 56 of 2004, to cope with inflation and reduced levels, since the form of this principle objective basis adopted by the monetary policy in the performance of their duties, On this basis, the Central Bank must establish priorities policies. We are speaking here of monetary policy to combat inflationary activities using the tools available. He pointed out there in front of monetary policy variables and intermediate or intermediate objectives reflect on the relationship between the impact of these variables to reduce the general level of prices and contain inflation. Among these variables of interest rates stabilizing long-term «» and stabilizing the exchange rate or real. And the levels prevailing exchange, Noting that these variables can not control directly has not been targeted by similar variables. These variables or operational objectives are references or means Acharateh or information be used to influence stability in the cash market. These signals known as interest rate, the Central Bank of Iraq, a price indication would be tantamount compass navigation to influence the behavior of interest rates as determined why would the Central Bank lends to banks? What banks deposited in the Central Bank? Under the control of the volume of cash, as it is believed that whatever the confiscation of inflation, in the end, monetary phenomenon, Accordingly, the priorities are stability to the crisis logical to build and stimulate the economy. On this basis, inflation is mainly to increase the speed of money circulation and abandoned, leading to weak demand cash and the growing demand for goods and services as counterproductive, In order to maintain the cohesion of demand and maximize cash levels in order not to turn into strong spending on goods and services, what the Central Bank, the use of tools in raising the interest rate has to stimulate the interest rate structure and maintaining the coherence of savings and maximize their purchasing power helps monetary policy to address the high levels of liquidity in the market and contain cash «» banking without becoming bloc cash adrift at the commodity and services.

http://64.233.179.104/translate_c?hl...px%3Fid%3D2671

South Oil repairs 75 oil wells in Rumaila
30/11/2006

Nasser Hussein Al-Shimmari, who supervises the reconstruction process of oil wells in the South Oil Company, said last Sunday, that the engineering cadres in the company was able to repair 75 oil wells in Rumaila oil fields north of Basra.

Al-Shimmari said that the engineering cadres were able to repair 75 wells in North Rumaila (60 km north of Basra) using their own capabilities.

He said that work is still going on to construct 100 wells and incorporate them in the service, pointing out that the energy of each well is estimated at (3000) liters.
Al-Shimmari added that the company is determined to reform all stations and wells associated to it.

Hundreds of wells were exposed to neglect and vandalism after the chaos that followed the fall of the previous regime in 2003, and the South Oil Company seeks to restore life to these wells.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2667

Hhmmmmm.......


To see this story with its related links on the Guardian Unlimited
Business site, go to Guardian Unlimited Business

Pound edges closer to $2
Angela Balakrishnan
Wednesday November 29 2006
The Guardian


The broadly weak dollar touched new lows this afternoon amid another
day's frantic trading and conflicting data from the US.

Fears of a slowing US economy and speculation that central banks across
the world may be moving their reserves away from the dollar have
already contributed to a steady decline of the currency.

This continued as figures on new home sales showed a drop of 3.2% in
October, ticking the dollar down to a fresh record against the pound of
$1.9545.

The dollar pushed past the two-year low set yesterday and placed the
pound within even closer reach of the $2 level, a high not reached for
14-years during the Sterling Crisis when Britain had to leave the
European Exchange Rate Mechanism and the pound collapsed.

Earlier in the afternoon, surprisingly strong data on US economic
growth in the third quarter driven by strong business investment helped the
dollar recover some of its earlier losses.

Gross domestic product, which measures economic activity, rose by an
annualised rate of 2.2%, much higher than the 1.6% first forecasted.

Although the gain was still lower than the 2.6% growth seen in the
previous quarter, the dollar gained on the news.

However, continued bad news from the deteriorating housing market added
to the dollar's weakness.

But the dip to a new low was only brief as by late afternoon, and the
dollar settled back to the $1.94 levels it was trading at earlier in the
day.

Very encouraging action or non-action at the CBI.

Woot to you all. Night, night, sweet dreams.

Originally Posted by shotgunsusie

http://64.233.179.104/translate_c?hl...px%3Fid%3D2671

"On this basis, the Central Bank must establish priorities policies. We are speaking here of monetary policy to combat inflationary activities using the tools available. He pointed out there in front of monetary policy variables and intermediate or intermediate objectives reflect on the relationship between the impact of these variables to reduce the general level of prices and contain inflation.

Among these variables of interest rates stabilizing long-term «» and stabilizing the exchange rate or real.

And the levels prevailing exchange, Noting that these variables can not control directly has not been targeted by similar variables. "

COULD THAT MEAN THAT THEY NEED TO BRING THE DINAR TO THE REAL EXCHANGE RATE (we alll know that it is undervalued)?
The translation sucks, but my heart stopped for a second when I saw the word "real" combined with the " exchange rate".
Obviously, raising the interest rates does not work ( according to this article) , so...hmmm...

In the "Crazy Thread". Can not even read the news Thread already. I post there, you can too.

China balances between the risks of investing in Iraq and Iran and its revenues
30/11/2006

With China's thirst for oil and gas, it may risk politically in Iran and security in Iraq to gain foothold in areas where the western companies fear to approach.

Iran and Iraq possesses 19% of world oil reserves, and some of the largest unexploited fields in the world.

China already obtains half of its imports of oil from the Middle East, which gives it a strong incentive to ensure strategic deals in the fields of oil exploration in the two neighboring countries.

Ian Brown, head of the research team of the Middle East at Wood McKenzie Institution, said that Chinese companies are operating in Iran "in the absence of a large number of competitors. They have a chance to participate in giant oil fields too".

Brown said "and when conditions are suitable in Iraq, there will be many competitors and the chance to gain a major share will be much less".

Iran relies heavily on oil, which represents between 80 and 90% of its export revenues. But its old oil fields and the decline of their production, means they need bigger investments to maintain the current level of production which is about four million barrels a day. So, Iran needs financing and foreign technology, but American laws prohibit American companies from investing in the Islamic Republic. Washington can also impose sanctions on companies from other countries if they invest more than $ 20 million annually in Iran.

Foreign investment was reduced considerably because of: contract disagreements, political and bureaucratic interventions, problems about infrastructure and oil privileges, which the companies say they are not satisfactory.

However, the problems in Iraq are far more complex represented in the casualties of the daily explosions, sectarian clashes and the escalation of violence.

But Iraq has the third largest oil reserve in the world, and oil was prospected in only 10% of its lands.

Dozens of foreign oil companies signed memoranda of understanding with Iraq as a way to begin relations with the new government in Baghdad, and which could become the real deals when stability is achieved.

Between April 2003 and June 2006, about 315 attacks were launched on the power infrastructure in Iraq, and only a few foreign oil companies began with the actual work there.

In an effort to ease the restrictions that besiege it, Iran is looming of large oil deals with China, which might be willing to accept less attractive deals to secure energy supplies and it usually do not link between policy and investment.

B.F.C Energy for Energy Consultation said in a report that in case this strategy succeeds "it would allow Iran to attract investments, expertise and technology, which it urgently needs without having to make any concessions in its local and political stances".

For Iran, such deals may push China to refrain from supporting sanctions against Tehran because of its nuclear program.

Although the negotiations faltered in the Security Council on sanctions against Iran, the same thing happened to the talks between Tehran and the Chinese company Sinopec on the field Yadawaran, which is a huge prize of up to one hundred billion dollars.

Hussein Shari'a Madari, adviser of the Iranian supreme leader, wrote "if China agreed to sanctions against Iran, the government of the Islamic Republic and the Iranian people will look to China as a hostile and possibly affect the political and economic cooperation".

China did not specify its stand and the United States is pressing for the endorsement of the draft of more strict sanctions against Iran, while Russia calls for easing the text of the European proposals.

Mark Fitzgerald, from the Institute of Strategic Studies in London, said: "Russia is the main player in Iran's plan to thwart UN sanctions", and that China "will follow the example of Russia. If Russia accepted harsher penalties, China will not object. China's relations with the United States are more important. Iran should sell oil to any party and not exclude China from the market".

Before the war on Iraq in 2003, China has agreed to a deal of $ 700 million with the government of former Iraqi President Saddam Hussein to develop Al-Ahdab oil field. This contract is renegotiated with the new Iraqi government which is keen to conclude this agreement with the Chinese.

An official of the Iraqi oil ministry, said: "Chinese companies did not stop their contacts with Iraq at any time. They are the most active companies ever. They operate on the ground with us and are ready to provide all kinds of assistance for the development of the oil sector".

The Chinese companies are ready to underestimate the security risks to enter the oil sector before other international companies.

Mohamed Al-Zeini, from the Global Energy Studies Center in Britain, said: "they compete effectively with other companies to ensure access to energy resources and bear greater risks. They are even prepared to offer better terms".

Iraq is in great need for investment to repair the damage inflicted upon the oil infrastructure as a result of the sanctions, war and looting and it is unlikely to cause uproar about the source.

The official said "it would not be wise to marginalize anyone. The time of concluding conventions according to mood and relations is gone. Contracts will be awarded to those capable of work".

http://www.iraqdirectory.com/DisplayNews.aspx?id=2672


Exactly. They are in great need.

Perfect moment to RV the currency and open that doors TODAY!!

Originally Posted by neno

In the "Crazy Thread". Can not even read the news Thread already. I post there, you can too.

Hmmmm, asking the question/opinions in a 'think tank' way shouldn't be moved over to the crazy thread and should remain in the news thread, as it is 'news'.

We're discussing the current news of the auctions today...........