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

Originally Posted by Adster

Check the attached out. Wohhhhhaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyy.

That line can far far far more down!

There is something really good going on in iraq,Very nice to read all positive posts Keep up the good work

Originally Posted by michael16

Negotiations fail between Baghdad and Kurdistan on oil contracts
Negotiations fail between Baghdad and Kurdistan on oil contracts
20/12/2006
Source: Translated by IRAQdirectory.com

The first round of negotiations between representatives of the central Iraqi government in Baghdad and the government of Kurdistan in Irbil has failed to reach an agreement on the power of concluding contracts with foreign companies to invest the oil in province; the Kurds have held on to this power while Baghdad rejected that. At a time when political sources said that the dispute was referred to political authorities for a settlement.

Political sources said that the governmental committee which is developing a draft bill for oil disagreed on granting the right of concluding contracts of foreign investment to the regions or to the central government, and the solution to this dispute is up to the political leaders.

Political sources close to the talks said that the main element of the dispute was the insistence of the Kurds, whose region contains the northern oil fields, on the right to control the unused reserves.

Deputy Prime Minister, Barham Salih who is a Kurd and heads the oil committee, said that there is one main issue which needs a political agreement, and we are trying to reach a settlement.

Assem Jihad, spokesman of the Iraqi Ministry of Oil, said that the law now awaits further talks between the Iraqi government and Kurdish area.
The oil sector is in great need for foreign investments to revive the devastated economy, which depends heavily on oil export revenues. Iraq has the third largest oil reserves in the world.

A distinguished source in the oil sector said that the first round of talks failed and we are now waiting for the second round.
The Oil Committee, which includes the minister of oil, agreed on more than 90% of the items of the law.
Salih showed optimism about the Iraqi officials overcoming the difficulties facing them and said that the talks would be resumed within a few days. He said that the committee agreed on sharing oil revenues and on restructuring the sector which is considered one of the key issues.

He added that we did not fail. The talks will be resumed in a few days, pointing out that the oil law is a priority for the government.

Iraqi officials have claimed that the law will be submitted to parliament for ratification by the end of December, and Saleh said that the officials are working hard to stick to that date.

I read this one before. This one is old I think of last week.

Just read that the oil bill goes to cabinet/parliament next days for approval!

Originally Posted by michael16

Head of Stock Exchange Trustees: it is time to implement the Investment Law Head of the Iraqi Stock Exchange Trustees: it is time to implement the Investment Law
20/12/2006
Source: Translated by IRAQdirectory.com

Head of the Iraqi Stock Exchange Trustees, Talib Tabatabai, confirmed that security situation is what hinders the Stock Exchange more than anything, and it is the reason behind the considerable challenges faced by the investor... However, he pointed out that the current situation is temporary and exceptional; therefore, the performance must be maintained consistently, as illustrated by general indicators, which confirms that the development in performance continues to be a salient feature in the march of the market.

Tabatabai added in a press statement: that the investment law being not activated, its members are not appointment and working by it has not started, created a great disappointment among investors in the Iraqi bourse, particularly that efforts have been made by workers in the bourse to update its performance; electronic equipment and supplies are being installed and Stock Exchange rooms are being organized for this purpose. He added that such electronic boards are used for the first time in Iraq...

Tabatabai expressed his hope that many factors will help the investments by shareholders better than it is now. In the forefront of these factors is the security situation.

Tabatabai pointed out that the number of shares that have been circulated in the month of September amounted to 4,212 billion shares, at an average of 527 million shares in a session, registering an increase of 54, 9% on last August. As for the volume of transactions in the month of September, Tabatabai said that they amounted to 8,422 billion dinar; that is 1,052 billion dinar in a session; and the number of contracts executed in the same month, increased to reach 2928 contracts for the month of August.

Tabatabai also stated that the banking sector is the main engine of the market, as this sector has achieved greater relative importance.

WOW!!! COME ON WE NEED A WOOOOOOOTIN CHRISTMAS!!!!!! TIME TO REVAL IS NOW!!!!

These tiny incremental changes in dinar are great! They're happening every day like clockwork. They tell us how methodical and determined the CBI can be. But in terms of real buying power, what are these tiny improvements accomplishing? ZIP!

The BIG STORY concerns what they aren't telling us - what they can't tell us!

The BIG STORY is the BIG CHANGE in dinar value that will turn the Iraqi economy and for that matter, the rest of the world, on it's head - followed by jubilant celebration like we've never seen before!

Chinese Ambassador to Iraq and discuss

(Voice of Iraq) - 12-20-2006
This issue was sent to a friend

The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /
Wednesday, 12-20-2006

Foreign Minister meets Chinese Ambassador to Iraq and discuss with the Memorandum of Understanding between the Foreign Ministries of the two countries

He met with Foreign Minister Hoshyar Zebari yesterday, Mr. Li Hua Chen of the People's Republic of China in Baghdad marking the end of his functions in Iraq And Abralozer thanks and gratitude to the ambassador for his efforts during his tenure in Iraq for the consolidation of the historic friendly relations between the two countries, pointing to its role in communication with the Iraqi government and the follow-up to the political process and its contribution to achieving many of the visits of senior Iraqi officials to China.

He also stressed that there is a genuine desire by all the Iraqi political trends for the development of relations between the two countries and peoples in various fields, adding that despite the difficult challenges experienced by Iraqis now for the future of the country and prepared a design to overcome these challenges and improve the security situation and economic and service orientation.

For his part Chinese Ambassador expressed his country's firm support for the political process in Iraq and the constitutionally elected government and the desire to develop relations between the two countries in various fields.

It was during the meeting also touched upon the draft memorandum of understanding between the two foreign ministries and the importance of Iraq's active participation in the various economic actors, sports and other fields, which will be held in the People's Republic of China in the coming years.

The meeting was attended by Chairman Asia and the Chambers of Protocol at the ministry.

Originally Posted by Adster

Check the attached out. Wohhhhhaaaaaaayyyyyyyyyyyyyyyyyyyyyyyyyy.

Quite a graph-ic graph on how the exchange rate has changed. It does rekindle the question: Such a large move over the last 6 weeks by the CBI, yet it has not shown up in our buy rates at Chase bank. It was still at 782.90/M yesterday. It has been in the $782 range for weeks. Wondering why there is not a more direct correlation between the CBI rate and the marketplace on our end.

Randy

Originally Posted by Adster

Morning guys, another cold miserable one here in England.

Ne news on the Gazette site then? Just tried to access, still no joy. No new rate as of yet on CBI site. Sure be good to see it drop another 12 or 13 points and make us some more money for our Caymans fund!

olla! I picked up a temp job this week with UPS delivering packages with the regular drivers, and today is the biggest delivery day of the entire year. We are also apparently in the teeth of the biggest blizzard of the year. I can't tell, it's still dark out there. Boy oh boy. It's 16 degrees and I can hear the wind whistling through the trees and around the windows. Oh goodie, I get to go out there! When our dinar tree bears it's full fruit I assure you that I will not forget the armies of people on this planet who go out and work 10 and 12 and 14 hour days in all weathers, and are happy to have the work. Maybe that's the lesson. We are not to be forgetful when we do get released from want. Well, gotta go get into my snuggies.
blessings on all. Mustang Sally of the huge heart, pm me your address please?

A few quick questions:

What day will be the CBI's last auction for the year?

When does the GOI go on vacation or whatever they are calling it and for how long?

When does their fiscal year end and begin?

Thanks in advance for any answers you can provide, just trying to put it all into perspective!

Gazette still down for 3rd day in a row.