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

Originally Posted by MrsCK

Saudi bourse rise and the rest of the Gulf DECLINE
(Voice of Iraq) - 05-12-2006
Dubai (Reuters) - The stock markets in the Gulf region, fell on Monday except Saudi bourse closed on the rise after a significant drop on Sunday.

Shocked and the Saudi stock market retreated more than six% on Sunday investors around the Gulf and with the decline in the bourse country to its lowest closing level in more than two years and floating a new indicator of the Dubai market, more than three% on the start.

The index for new Dubai financial market, which restricts the weight of the companies at 25% down 3.31% to 3997.29 points.

The reconstruction of the real estate fell 1.73% to 11.35 dirhams ($ 3.09). The shares fell Arab largest real estate companies registered for circulation more than 17% since the beginning of November in November.

"He said Mohamed Yassin, director general of Emirates Securities, "the market has some selling operations to profit-taking in the morning after a small rise on Thursday ... Selling pressure is not over yet, confidence has not improved ... What happened in the rest of the Gulf has not helped. "

.Contributed sales in the bourse, Saudi Arabia on Sunday continued to decline in the market country.And the market index of the Doha Securities 1.66% recording 5830.24 points. The index closed down in the previous six meetings.

He said Dominique Ping indication of the Holding Company for Brokerage and investment "feel reasonably calm markets with low liquidity. We get to the levels investors could begin to accumulate shares and to actually see some local and foreign funds start purchasing. "

He said that the average price for 2006 profits in the bourse country retreat to about 13.

The market index retreated Kuwait Stock Market about two% to its lowest closing him in almost 16 months, amid fears of investors by the government for decades and the commitment of companies disclosure rules.

The index ended at 9164.30 points transactions low 1.79%. The company issued shares of mobile communications losses among the five largest listed companies, was 3.38% up to 2.86 dinars (9.89 dollars). The affected shares of the national real estate and Ajillette of logistics services to cancel contracts for the declining share of national 8.93% to 0.510 dinars, Ajillette shares fell 6.25% to 1.5 dinars.

"He said Youssef al-Qatami of the World Investment House (Zogby) that the market "in a panic now ... That curve downward because of canceled contracts and investigation. "

.Al-Qatami said that the price-earnings ratio in Ajillette shares retreated to nearly seven. The shares have more than 12% since November 27 November when Al-Qabas newspaper reported that the government abolished the eight contracts with the company.

."Al-Qatami said, "many companies in the market is very cheap now ... But the issue is not to what extent is cheap. The question of how it will be politically. "

The indicator Saudi winning only in the Gulf, closed on a slight rise in Analysts say that the enthusiasm of investors for the sale had waned after losses of the previous meeting.

The index increased 0.31% to 7689.71 points, with the rise of the Saudi Company for Electricity 4.26% to 12.25 riyals (3.27 dollars), taking the gains among the ten largest companies market.
The Zogby day coverage of the Saudi Electricity recommendation "buy".

"He said Jamil Matar of the reconstruction of financial services "market witnessed a sale of the excess. Markets are more and more attractive. "

The decline in market index of the Muscat Securities 0.61% to 5434.32 points because of what he said Sankar Kailasam of the Gulf of investment services that resort to individual investors to sell the shares to provide liquidity to subscribe to the initial public offering of Bank of desert, which begins on the 9th of December. WHAT DOES THIS MEAN?

The Abu Dhabi stock exchange index fell 1.24% to 2937.84 points, the lowest closing level since December 23, 2004.

The Bahrain Stock Exchange index fell 1.49% to 2146.58 points.

(Dollar equals 3.673 Emirati dirhams)

((Dollar equivalent of 0.2891 Kuwaiti dinars)

(Dollar equals 3.750 Saudi riyals)

It would seem that the sourrounding arab coutries are being hit in the pocket book over the sectarian violence in Iraq. Arabs are first and formost traders(money makers and profit takers) so this is a good thing for us. The Baker Report, all the meetings between Iraq and the administration. All the totally slanted hype by the MSM. An Iraq with way more oil than most of the world thought. The American administration knew. A lot of the oil in Iraq is so shallow that advanced satellites can detect it. Any country with advanced tech ground radar sats has a good idea what is there. How much siesmic survey has been done in the last 3 or 4 years. I would think a good deal. I read that Japex was involved. They are at least as good if not better(probably better software) as a Canadian or American siesmic outfit. Saudi oil I believe will start becoming more expensive to retrieve as the many of their fields will need expensive workovers. As I said this is a good thing. The sourrounding Arab coutries will get involved for their own well being and our problems are on their way to being solved. Any other opinions are welcome. Stand by to Stand by!!

Originally Posted by Pooh Bear

Okay, someone needs to clear my head and get me thinking straight on this because I'm a bit confused.

In the month of November we have seen an increase in value of the Dinar against the Dollar. At the same time, we have seen a weakening of the dollar in the market. Now, reviewing AMEinfo, I have noticed that we have seen a weakening of the Dinar against the Euro.

If this rate change (1470 to 1429 in a month) is reflecting an actual increase in the dinar value, why has it decreased against the Euro? It is just a little worrisome, so I thought I would ask the question to the brain trust so that someone could put me back on the happy track.

Thanks,
Pooh

Perhaps the value of the Euro is accellerating faster than the value of the dinar. In that case, from a relative standpoint, the dinar would appear to be weaker against the Euro. It certainly makes a good case for converting some of your dinars into Euros, instead of all into dollars, doesn't it.

The dollar is facked against the £ and dropping, this anything to do with the differing dinar rates against different currencies?

Originally Posted by Ranger III

In today's Iraq Updates there is mention made that the Iraqi Presidential Council "endorsed" the FIL on Friday and described it as a law that "..."would"
encourage international investments in the country."

Throughout the article the subjective tense is used rather than the past tense. It would appear then to me that even though the FIL has been ratified by Iraq's President and endorsed by the Iraqi Presidential Council, it has still not been "enacted."

Doesn't the fact that there has not been a run on the ISX since last Thursday's ratification support this interpretation?

I would agree with you 100%. It should be very obvious when this is enacted. I don't think there will be any 2nd guessing when it goes live.

Originally Posted by Adster

This is BS, we know all of this, Shabibi needs to get off his ass and revalue, he's doing everything in his power but revalue. There is no other option chum.

Does anyone have any idea why Shabibi seems so set against revaling? If it is in their best interest as a nation, why is he dragging his feet so much? Iraqis starving, bombs going off in the market place, death squads roaming the streets, electricity running 4 - 6 hours a day and here is ole Shabibi, by flash light in a cold sweat muttering "I gotta raise it another 2 points, da***t!!!" What could possibly be going on in his mind making him so stubburn? Your people are dying, the economy is dying, you've got the magic bullet, so place it in the gun and fire the blasted thing will ya??? Shhhesssshhhhh! Even ole Ebanezor Screwdge could take some lessons from this guy!!!

worf

Originally Posted by homy

This non posting could be a good thing and in process for the distribution of lower denominations. It could be or mean several things but the best part is that we know, to a certain degree, that the rate is moving in the direction we are desiring, although slow. Let's see what the next few hours and then the next couple of days or weeks bring.

After reviewing the latest stats from the cbi, they have foreign reserves, probably mostly dollars, of around $6.9trillion dinars. They can use these to redeem their dinars. The higher oil prices enabled them to stock up from the oil sales.

Yes, they show about $9.5trillion outside of banks but with almost $7trillion, they can easily redeem them. Just imagine when oil production picks up and their foreign reserves skyrocket!

I have no idea what the $18.3trillion Investments is made up of but I can assure you that it increased another $4trillion this year! This is another area that the Iraqis have $$$ that are foreign assets of the cbi.

Overall, they have been building a nest egg with the little oil production they are producing today. Just imagine when it increases over the coming months and years! Watch out!!! Remember, oil is and will be their largest industry and have substantial reserves of 115billion barrel with only 10% of the country surveyed! They have less than one thousand wells drilled versus the zillions in the state of Texas!

Folks, if you add in the debt forgiven, they are in great shape to take this country and make it the Babylon described in the Bible. Although we would like a fast rise, and they need one, the are sucking some people to turn in these valuable dinars of the future. With the GCC around the corner, the upcoming events are going to be interesting for all those who hold dinars!!!

My take on this.

what other debts are they looking to squash?

Originally Posted by Elfwizard

They are selling the Dinar right back out now, so when I asked about 3 weeks ago where is the proof they were pulling it from circulation? Theres some of your proof. I don't think they were ever PULLING dinar from circulation. The dinar just goes right back out through the back door anyway.

It's all good, 10 gallons siphoned 1 or 2 gallons spilling back out. The tank is still more then half full.

[QUOTE=clintstella;145136]The dollar is facked against the £ and dropping, this anything to do with the differing dinar rates against different currencies?

I copied this from another site and I hope all involved don't hold it against me, but i thought it made some sense.



There are several things going on behind the every day news we all see.
The Euro working its way up in value is not always a good thing and the Dollar going down is not always a bad thing. Both movements effect imports and exports. We in the USA have always liked a strong Dollar but in the endeavor to keep the dollar strong we have killed our export markets.
A weaker Dollar will bring our export markets back into play and create jobs in the process.
Another thing not taken into account with the Dollar is the amount of bogus Dollars printed by other country's to undermine the USA, in some respects they be unknowing helping us by weaken the Dollar from a export point of view.
The Amero as it is called will be to help the weaker North American Country's if and when it is put into service. Will it help the USA? I tend to think not and you look at what the Euro is doing to the country's that use it and decide how well that has worked out. Its all big game of hold the money or dump the money on the world Banks to bring things in line with what the Big Money Bankers want to happen.

Originally Posted by clintstella

The dollar is facked against the £ and dropping, this anything to do with the differing dinar rates against different currencies?

The dollar is in trouble and I believe we will see a further decline in it's value against other world currencies. China has announced that it is selling off just a mere 1 trillion dollars of its foreign currency holdings and the US cannot get out of its "spend more than you make" mindset. If China and some of the other emerging financial powerhouses decide just one time that they are not going to purchase US T-Bills, you will see a panic like we haven't seen since the great depression. Warren Buffet is betting heavily on the decline of the dollar. To the tune of 16 billion dollars of his own money. We are in for a rocky time, IMO, and it's coming within the next 24 to 36 months. If there is another 9/11 event, it will upon us so fast we won't know what hit us.

Hi all,

This is for th e ones who have a doubt on CBI's policy: an article posted two or three days ago stated CLEARLY that the CBI started THE PROCESS OF REVALUATION. Please do yourself a favor and find that article ( it shouldn't be too far back). The words in the article ARE : REVALUATION process OF THE IRAQI DINAR or something like that.

I don't know if anyone could miss that, but just in case. I doon't have time now to find the post or the article link....

I gotta go Christmas shopping with my kids now, but I thought that this would help.

The revaluation started - no doubt. The only thing that I/no one knows is how far up the dinar will go. These are steps taken by CBI to straighten the dinar, but who says that they are not working on the pegging of the dinar?
As we all know, they said " the dinar will be the currency of choice". C'mon people, if I have to post this every day, I WILL!!