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

Free trade zone to be established near BIAP next yearThe head of the Iraqi and American Chamber of Commerce and Industry, Ra'ad Omar, said that contracts worth $97 million were signed by foreign companies to rebuild the Kurdistan region.

More than 370 Iraqi, Arab and foreign companies participated in the Sulimaniya fair, which witnessed great success according to Omar. He added that there is a plan to establish a fair and free trade zone near Baghdad International Airport (BIAP) next year

Free trade zone to be established near BIAP next year | Iraq Updates

Iraq's Ministry of Industry rehabilitates stopped enterprisesIraq's Ministry of Industry, in cooperation with the Iraqi Businessmen Union (IBMU), began studying procedures to rehabilitate closed private sector enterprises.

The Head of the IBMU, Ragheb Ridha, said that they have begun to study the reasons behind the closing of these enterprises


Iraq's Ministry of Industry rehabilitates stopped enterprises | Iraq Updates

Originally Posted by Mike5200

Unemployment at 50%, says minister



By Ikhlas Majeed



Azzaman, December 14, 2006


.............................

Each family will be given a loan of 10,000 dinars (approx. $6,600) to start the project, he said.

Okay, I'm late to this party, and I had to read this press statement a couple of times and finish my Diet Coke before I thought clearly enough to grab my calculator and do the math.

1.5 dinar : 1 dollar!!!!!

That deserves one big Aggie WHOOP! And here's a Rolclub WooT for good measure.

Water treatment plant offers employment opportunities in Iraq | Iraq Updates

This article discussing job opportunity in Iraq through the construction of a new Water Treatment Facility is exactly the sort of news that I am looking for in addressing the unemployment issues facing Iraq.

As many of us know, having worked in Iraq on various reconstruction projects, these opportunities provide training and income for a mainly Iraqi workforce. While these projects are currently under the auspices largerly of the Army Corps of Engineers, much of the management is slowly being turned over to the proper Iraqi Ministries.

While these companies, US based or otherwise, do bring in Expat management to start up these projects, the workforce, including site management and engineering, comes from the pool of available Iraqis. I personally saw the positive effects this had on the Iraq industries. Job safety improved. Labor skill improved. Also, start up companies in Iraq began acquiring better equipment and more business as time progressed.

This is precisely why a large reval of the currency will work in this situation. In a situation of high unemployment, high inflation, low market competition, a quick reval will be followed by an increase in new businesses, which will increase employment. The inflationary aspects that would normally follow a sudden change of wealth in the population will be offset by the competitive nature of new businesses competing for this wealthy customer base.

Iraq has 30 years worth of infrastructure and commercial development to catch up on, and that growth has already started. This is all good news.

Baghdad-Conference
More than 200 Iraqi politicians to attend political powers conference on Saturday
By Monther Hamad Zahi
Baghdad, Dec 15, (VOI) – Between 200 to 250 Iraqi political figures will attend the political powers conference scheduled to be held on Saturday in Baghdad, a spokesman for the conference said on Friday.
"The deteriorating security conditions were behind refusal by many figures opposing the political process going on in Iraq to attend the meeting," Nusayr al-Aani told the independent news agency Voices of Iraq (VOI) by telephone.
The government has granted assurances to those figures but fear is still dominating, he said.
Aani noted that several workshops will be held on the sidelines of the conference to discuss different issues like getting former Iraqi army officers back to their jobs, expanding the space for political participation and the legitimacy of the Debaathification Commission.
The conference resolutions, he said, would contribute to having common grounds of understandings among the Iraqi political blocs and figures outside the political process.
The state ministry for national dialogue affairs had said on Sunday that December 16 will be the date for convening the conference.
A statement by the Iraqi government said the gathering would be held under the aegis of Iraqi Prime Minister Nouri al-Maliki.
The conference raises the slogan "Iraqi political powers will be the mainstay of national unity and a guarantee for the success of the political process, reconciliation and rapprochement," it said.
Last June, Maliki launched an initiative for reconciliation comprising four conferences, including Saturday's meeting of political powers.
Two months ago a religious clerics’ conference held in Mecca had issued the so-called Mecca Document, which urged an end to Iraqi bloodshed. The Mecca meeting was preceded by two conferences for Iraqi clans and civil society organizations.
AE

So . . . .

Either this was part of the original story by the reporter,

Or, As the editor was reviewing it prior to printing, he interjected the amount.

And neither one of them would be privy to such information, I would think.

So, either a mistake or a slip.

Originally Posted by antjesz2

Don't want to rain on anybodies parade, but I'm afraid Susie is right.
Most European countries writte the numbers differently from how you do it in the US. Where you put a comma, it's a dot. And vice-versa. So 6,600 in European notation would be 6.600 in US. I've seen the Iraqis use the European notation several times. So probably this number is just a mistake and doesn't mean anything - though I really wish it would. I'd sure be very happy with .66!

I agree with you although it was nice to read all the excitement on the forum.

We have had this before with an article of VOI, I believed with Charmed.

It was also a typo. They wrote 1.470 instead of 1,470!

Unless I read it in more articles I will believe it!

Originally Posted by Adster

Word on the street is the reval is waiting on the passing of the hydrocarbon law. Very probable. Was thinking bout this last night, the FIL was passed few weeks ago, why have they not put it into the gazette and opened the doors to foreigners? Why, because they are tying it in with the hydrocarbon law and will reval at the same time.

Right, now to go back 20 pages for overnight stuff!!!

I agree with you and Susie.

I think the RV will come HCL it's the key to their gold!

They are not enacting because they wait till everything is in place and to make that booming start.

Still I believe we must see it with the new fiscal year 1/1/2007.
They also have said it and HCL has to be passed then according by the IMF SBA.

Originally Posted by kiko

I agree with you although it was nice to read all the excitement on the forum.

We have had this before with an article of VOI, I believed with Charmed.

It was also a typo. They wrote 1.470 instead of 1,470!

Unless I read it in more articles I will believe it!

True, but still means $6.60 for a small business loan, what could they use that for, recycling coke cans from the beaches?!

Iraqi-American troops gear up for battle of Baghdad
Baghdad, 15 December 2006 (Gulf News)

A total of 250,000 Iraqi and American troops are expected to be deployed in Baghdad to ensure security.

Hadi Al Amiri, Chairman of the Security and Defence Committee at the Iraqi Parliament, said they would take up positions across Baghdad.

The move comes in line with the recommendations of the Iraq Study Group's report, also known as the Baker-Hamilton report, which was released recently. Al Amiri told Gulf News that Iraqi Prime Minister Nouri Al Maliki is determined to win "Baghdad's battle", considering it a decisive one to improve the security situation.

"The battle is agreed upon within the Political Council for National Security, which comprises the leaders of political blocs, including the Sunni Accordance Front," Al Amiri said.

All political leaders have now agreed to activate the role of the Iraqi army and police to help achieve security and put an end to the uncontrolled presence of armed militias, he said.

Earlier, political groups were divided over sending Iraqi forces to attack gunmen inside residential areas because the move was viewed as a sectarian act, Al Amiri said.

Babakeer Zebari, the Iraqi army Chief of Staff, said: "Baghdad will be the centre of a comprehensive and firm plan to rid the city of all gunmen."

According to Major General Hussain Ali Kmal, Head of the Intelligence Department at the Interior Ministry, there are between 7,000 and 9,000 armed elements from Al Qaida and the former regime.

Due to the new security plan, Baghdad is likely to see long days of curfew and raid operations. Gunmen were seen putting up barricades in preparation for what seems to be battles with the troops.

Iraqi-American troops gear up for battle of Baghdad | Iraq Updates


Just a thought!

We don't know officialy if this HCL is done, we expect it!
OSW stated it that it is in place or will be enacted this Sunday (perhaps).

We have read the statement about "returning to normal circulation" and the "official exchange rate" and many others that pointed to years end (which almost is).

I also think HCL is a key to the RV. ICI is or will be done around now.

They are gearing up 250,000 troops with days of curfew.

Wouldn't it be perfect to RV during these curfews days!

They improve the security with all the troops and at the same time they are tackling their real problems which also a cause of all the violence.

It's just a thought but it could make sense!