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

After reading more and more news and reports that new trading deals are being made, new system are being put in to place and that

The Commercial Bank of Kuwait has opened a major branch in AL Sulaimania, northern Iraq, while the Kuwaiti Western Company will begin operational work from the beginning of next July with respect to the execution of projects in Kurdistan Province.

By next july they mean July 2006 right?

Anyway, it feels like Iraq has taken one step closer to a reval. The first steps have been a success, with rebuilding Iraq with new hospitals, 315 school projects have successfully been implemented and the teacher training program has educated over 38 000 new teachers,
firestations have been built up to serve almost 1 million iraqis.
and they are starting to get control of the violence.

But there is a long road ahead and there is alot of work still to be made.

Another good sign is that Inflation rose during May by 4.5% as compared to the month of April, according to a report prepared by the Central Statistical and Data Bureau of the Ministry of Planning. and 28.2% were from oil and light. The report indicated that over the year May 2005-May 2006 inflation was up by 58%.

So the Basic projects are still being worked on and will be so for a long time but the new parlament have started to go in to more detailed projects, like foreign trade and how to get foreign investors in to the country. And it is this step that we are now waiting for to be completed. And we all know what a completion of this step would mean

So in my 1,2,3 step program for a reval, Iraq are soon to become a fully graduated country.

Have a nice day
John

Singapore, 26 June 2006 (Reuters)

Oil edged down today after signs of improved Iraqi production, but held near $71 a barrel as US gasoline demand is still growing despite near-record prices while traders worry over supply disruptions.

US crude traded 9 cents down at $70.78 a barrel by 2340 GMT, after a rise of three cents that took gains for last week to 1.4 per cent.

Iraq's oil minister, Hussain Al Shahristani, offered an optimistic forecast for the country's industry, saying daily output has reached 2.5 million barrels a day and that Iraq hoped to rival Saudi Arabia within a decade.

Iraq issued a tender for 6 million barrels of Kirkuk crude yesterday, the second tender this month after a halt of nearly a year in exports from its northern oilfields due to sabotage.

Concerns remain over US fuel supplies during peak summer demand, after the US Coast Guard said on Friday a closure of a key shipping channel in Louisiana was extended after heavy rains caused an oil spill, supporting gasoline prices as the channel connects three refineries with the Gulf of Mexico.

Data last week showed US drivers are buying more motor fuel than last year, despite paying almost $3 a gallon at the pump, while gasoline stocks rose less than expected.

'Previously inventories looked very comfortable -- now a big swing lower is in sympathy with other worries for the oil market, like Iran and Nigeria,' said Tobin Gorey of the Commonwealth bank of Australia.

Iran yesterday repeated threats that it was ready to use its massive oil exports as a weapon to defend itself if it felt in danger in an international dispute over its atomic programme.

But Oil Minister Kazem Vaziri-Hamaneh said international sanctions on 2.5 million barrels per day of Iranian crude exports would be impractical and would send oil prices over $100 a barrel.

Adjusted for inflation, oil is at its most expensive since 1980, the year after the Iranian revolution. It is within sight of its $75.35 record high hit in April.

Opec crude output edged 300,000 barrels per day higher in June to 29.7 million bpd because of increases in the group's two biggest producers, Saudi Arabia and Iran, oil consultant Petrologistics told Reuters on Friday.

The exporter group has kept its official output ceiling, which binds the 10 members excluding Iraq, at a near-maximum 28 million bpd for almost a year in response to a rally that has taken oil from $20 at the start of 2002.

In Opec member Nigeria, where a quarter of output has been crippled by militant attacks, kidnappers freed two Filipino oil workers yesterday.

Baghdad, 26 June 2006 (Aswat Al Iraq)

The Sunni Iraqi Conformity Front (ICF) gave its initial support for a national reconciliation plan announced on Sunday by Prime Minister Nouri al-Malki as an opportunity to engage armed groups in the political process but said it had four reservations.

Iyad al-Samerra'i, a leading ICF politician, told reporters the front had taken part in formulating the peace plan despite the exclusion of some clauses it had sought to include.

"We would have liked to have clarity when discussing the negative role of neighboring countries," Samerra'i said, referring to "crimes committed by gangs that sprang from militias."
He also demanded differentiating between resistance and terrorism and clarification of how resistance groups would be treated.

Samerra'i also called for flexibility for ex-employees at former security organizations under the previous regime.

Turning to compensation for victims of the previous regime and actions by foreign troops or current security bodies, he said damages have to be balanced adding that victims were all Iraqis.

This should grab someones attention...

" There is a problem in this country is the problem of laws that hinder private investment and impede the creation of the investment environment of good and we are now completing the process of finalizing the draft investment law, which will offer our to the House shortly creation of God. The report : The simple concept of Iraqi citizens when they felt during the brief visit of the British Prime Minister's visit to Baghdad, US President George W. Bush to Baghdad during convergent, If some wish to have a simple initiative urgent economic support to Iraq, there are missing and electricity services are missing, Some say we did not hear anything from this assistance only titles of favor in Washington or in any State to visit these two presidents, and possibly some explain something of propaganda or pleasing the public opinion among their own people and evacuated from Baghdad only statements not see anything to serve the lives of Iraqi citizens on the ground? "

"Mr. Prime Minister spoke with the Secretary-General of the United Nations a few days ago about a new initiative to support the Iraqi economy by the international community, and talked with President Bush when he came to Baghdad and also with British Prime Minister Tony Blair, we expect that the international community is dealing with the new Iraqi situation in a different way and context different from other former We are advocates of the agreement with the international community on a contract between Iraq and the international community which is committed to Iraq to embark on real economic reforms and invest its own resources in a better way because there is a concern of international economic governance in Iraq. "

"For example, this country's large oil and we are still at a very low level in terms of exports. if our group structural reforms in the oil sector have been able to drive the extraction and export to other dimensions. The Iraqi Ministry of Oil has ambitious plans to double the export of oil during the next four years of this government, we must fight, fight corruption and prove Iraqi citizens and the international community are serious about this topic, This is the essence of the initiative we launched to the international organization and its member States in the Security Council, In return, the international community must undertake to guarantee economic and real economic support to Iraq and what we are different in the past, Methods of abuse of the international community in the past with not meaningful Perhaps twenty to thirty% of the aid granted to Iraq and spent 20 to 30% of them did not reach the Iraqi economy is spent on security, the banks administrative expenses. For our part we are working Iraqi government to review these files and these methods in the management of funds and grants to Iraq. The Iraqi government, we must work to establish its own resources to promote the self-service economy. and the provision of the environment by attracting private investment, If we appreciate such an agreement with the international community and we are under a variety of procedures, They are committed to a range of support measures and grants to Iraq and spent better than previous years will be able to track the economic transformation in the country. The report : international relations and regional previous Governments, always hear a political party because otherwise, and because Syria is a party political and Iran, Kuwait Saudi ... Some Arab and foreign countries, Is Sentkhals of these interpretations? Is there a new approach to solid and strong relationships away from the crisis of confidence between Iraq and some States, How can the new government to create such an example. N Barham Salih : I want to say that a new government, but everyone felt that this government is a government of permanent, and enjoyed democratic legitimacy. It is also a government that is representative of all groups in Iraq, there has been criticism of past governments of certain circumstances, different perspectives, We have thus lost as pretexts and arguments and that the government will continue to be a government, and those interested in the Iraqi issue must deal with, What we noticed all the neighboring countries and Arab countries specifically considerable attention to this government, There was an exchange of letters between the Prime Minister and leaders of the Arab States, and there is a serious guide to promote ties with Iraq's neighboring countries, But let me say there is interference in the Iraqi issue can be both parties, I will not go into the details of this issue now because we really want to turn a new leaf. The report : Ndkhlk but in the details of the dossier submitted by Foreign Minister Hushiar Zibari, for example, to the Minister for Foreign Affairs of Iran, He says that in this case there are many violations of Iran. N Barham Salih : There is a lot of violations, we do not hide our people and has been widely acknowledged by the Aldani Yaarvs talk, There is interference in the matter of Iraq, through the border infiltration of terrorists who target the political process and stability in the country and target innocent Iraqis, We must know these countries and the fact that these devices have the patience of Iraqis executed, and I do not want to go into details. But the ambassador from a neighbor a few days ago, I talked to him in detail told me : the political decision is to support the unity and stability of Iraq. I told him, frankly : We are not about favors diplomacy, I say that you are fully convinced of the Iraqi leadership that the political decision to yesterday is to destabilize Iraq, We have the data to confirm this, Please tell your political that the Iraqi side, in fact, I do not know other channels in the Iraqi government what you speak and whether we are in the process favors or not, But you must be aware that we appreciate the knowledge and confirms that there will be consequences. But in a new stage and we expect neighboring countries to deal else, If some States in its violations of Iraqi sovereignty and interfering in the Iraqi I do not doubt in the light of international experience known conditions are different. The report : There is talk of the Iraqi that Iraq will export oil through Syria. What is the extent of the validity of the information? How do you see the resolution as such? N Barham Saleh : That is possible in the not too distant goal, Anything that will lead to a strengthening of economic relations with Iraq's neighbours on the basis of common interest is something we welcome. But at the same time, Iraqi-Syrian relations can be enhanced without the presence of Syrian genuine cooperation to promote stability in Iraq. The report : Dr. Barham Salih Iraqi Deputy Prime Minister, thank you for this meeting. N Barham Salih : Thank you. "

Source: http://www.alsharqiyatv.com/display....xt&storytitle=

Great find Hurricane!

Interesting,

As we all can see, this is a very complicated time for Iraq as it positions itself in the region fully aware they will be one of the wealthiest countries in whole middle east, so with the firm hand the current government is displaying, the detractors who were intent on disrupting this goal see how short sided their efforts really are.

Well, as I see it, we are now seeing cooperation develope as neighboring countries now see they will need Iraq in the long term, and this was a major breakthrough for Iraq, to earn the respect of others as a government on a mission to succeed, no matter what is thrown in their path.

What we are seeing in the north is what will spread throughout Iraq, and as security forces become more and more in control, and with talk of US forces leaving over the next couple years, it is now politics as usual, as everyone scrambles to align themselves in the right direction. Remember, this has never happened before, and to see so much happen in the last three years is still difficult for Iraqi's to grasp. Free enterprise is a culture shock is what I am hearing and there is going to be a period of disbelief for months as country grows in all directions at once.

The bottom line is getting people to work, and this cannot happen without foreign investments. Inflation is always an issue, expecially for the most poor and as we can see, just as in US with oil, the increase in prices effects the poor first, and most dramatically. The only way to counter this effect in Iraq is to commit to spread the wealth to the poor, and when you do this, you gain real support, and when the poor see anything that will get in the way of their new found financial assistance, they will step up to defend it, so any remaining insurgents will be driven so far underground that they will have no reason to continue their terrorist activity. The only way Iraq will truly jump start the country is to commit to help those who need it most, similar to how the US is a welfare dependent country, Iraq will be able to afford it, while the US cannot. (g)

What we are seeing hear is so unique that it is scaring people who are in the decision positions, so everyone is taking a breath before taking the next step. Just put yourself in their position and you will see how difficult this total transformation really is. The increase in world oil prices, and with this totally unexpected when until recently, this has changed everything, and one of the main reasons things were moving faster than ever with Iraq's growth potential. This will be most interesting to see how all this plays out in the coming weeks, but I still hear the same story, but now that all the pieces are in place, what we are seeing is a gun shy reaction. Just like holding a gun, you know what it can do, but not until you load it with ammunition. Iraq now has the loaded gun, and now is looking for a target, so be patient, it will happen. Just my opinion on what I hear is going on behind the scenes.

Good luck to all, Mike

thanks mike...and rad and pipshurricane....it does make sense....its like a waiting game now...not if.....but when it will happen....and being in pips.i have learned a lot of patience....and waiting.....lol....let it peg....let it peg....let it peg.....GO DINARS...Pat

24 June 2006 (Baghdad: Al Sabah newspaper)

Hoshiar Zibari, Iraq's Foreign Minister, has announced the government's intention to start immediate negotiations over the conclusion of trade and cooperation agreements with the European Union, and that this, in his opinion, will open a new page in relations with the Union. He announced in Luxembourg that Iraq needs continued support from the Union, and that to obtain this support, Iraq will be sending a delegation to immediately start negotiations.

He added that European support is very important for Iraq as it will push forward the country's efforts to begin necessary economic reforms and its joining of the World Trade Organization. The European Union has offered Iraq a financial grant of 200 million Euros in 2006 as a contribution towards the reconstruction program.

Originally Posted by Raditz

The European Union has offered Iraq a financial grant of 200 Euros in 2006 as a contribution towards the reconstruction program.

200 Euros ! That's a lot of money !

How much is that in US dollars?