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

Iraq urges Japanese companies, investors to participate in reconstruction
(MENAFN) During a meeting with Director General of the Japanese Center for Cooperation, Iraq's ambassador to Japan has urged Japanese companies and investors to participate in Iraq reconstruction and to discuss methods of strengthening relations between Japan and the Iraqi public and private sectors, Portal Iraq reported.

Iraq aims to improve a connection between the private sectors of both Iraq and Japan, Iraqi official added.

The ambassador pointed out that the Japanese government has decided to implement three projects in Iraq under a Japanese loan, despite the bad security situation.
Iraq has signed memorandum of understanding with three Japanese oil and gas companies and some projects for rehabilitating hospitals in Iraq, according to Iraq's Ministry of Foreign Affairs.

http://menafn.com/qn_news_story_s.a...ryId=1093117583

British investors to construct 25,000 houses in Kurdish Iraq
MENAFN) British investors revealed plans to construct new 25,000 houses in Halabja, the town in Kurdish Iraq, The Times reported.

The plans came as a part of a $2 billion infrastructure project agreed between Anglo-Kurdistan, a new company, and the Kurdistan regional government.

The Anglo-Kurdistan will cooperate with Baraez Construction, an Iraqi company in building new houses. The venture will include also build schools, hospitals and other facilities in several locations in the northeastern region of Iraq.

http://menafn.com/qn_news_story_s.a...ryId=1093117567

Iraq government bans all movement in Baghdad
Fri Jun 23, 2006 11:57 AM GMT

BAGHDAD (Reuters) - Iraq's government will impose a curfew in Baghdad on Friday, from 2 p.m. (1000 GMT) until 6 a.m. (0200 GMT) on Saturday, banning the movement of people and vehicles, state television reported.

There was already an 11 a.m. to 3 p.m. (0700-1100 GMT) ban on traffic in the capital.

National Security Adviser Mowaffaq al-Rubaie denied media reports that a state of emergency had been declared.

"This is absolutely false. There is no state of emergency. It is only a curfew," Rubaie told Reuters.

http://za.today.reuters.com/news/new...W-20060623.XML

Wow!!!!!!!!!!!!! I Was Doing Home Stuff Thinking Nothing Was Happening! I Come On And Read Pages And Pages Of Wonderful Reading! I Feeelllllll A Parteeeeeeeee Coming On! I Think I Feel Like Dancin! Thanks For The Great Rumors Adster! You Sure Made My Weekend!

Boy am I glad it is raining here today! (I never thought I would say that) We didn't go away for the day. (maybe tomorrow) The breathing is getting harder and even my husband is dancin (not a pretty sight)

Flygirl, feel free to do the dance. but lookout for the rain and lightening.

I hear you guys are getting it heavy. just a light rain here

Bob, We got killed here last night. Just a drizzle and gloomy all day. Does that dampen my spirit! NOT A CHANCE!

U.S. Department of State
Iraq Weekly Status Report
June 21,2006

Fuel Price Liberalization: The Government of Iraq announced an increase in the prices of refined oil products that would take effect at the end of June. This change would affect liquified petroleum gas, diesel, gasoline, and kerosene.

http://www.state.gov/documents/organization/68361.pdf

I think this report is based on the statement that was later retracted. I personally think that if we do see an increase in price of refined products, that will be a bad sign for a possible reval.

why?

Because there are two ways to accomplish the removal of subsidies, which is the real goal here. One way is to increase prices, the other way is to reval the currency. Any significant reval would actually result in a price reduction of all imported products, refined pertroleum included.

to elaborate a little.. assume that the price of gasoline today is 17 US cents per gallon. the actual cost is higher but the government is subsidizing to bring it down to this price... this is about 250 dinar per gallon.. if they did the small reval up to .0685 US per dinar.. then that same 17 US cents would only be worth 2 and a half dinar !! so maybe the real cost of gasoline is $1.70 US per gallon ?? i dont know that but just for example.. that would make the unsubsidized price only 25 dinar per gallon. if the price in dinar stayed unchanged.. they would be paying $17.00 US per gallon of gas.. and it is important to remember that refined gasoline is very much an imported product. this same thing will happen to the local prices of all imported products if the reval happens.. the locals will then be able to buy foreign producs much more easily.