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

Hello,

First, Merry Christmas to you!

I just wanted to inform you of another place like this where you can find
lot of information on HYIPS, Autosurfs, Iraqi Dinars (lot of good info on it),
and PIPS (great updates).

Check it out here: Global Finance Forums - Your Guide To Making Money In The Financial World - Powered by vBulletin

Tell your friends and family!

Warm wishes

DO NOT CLICK THESE LINKS. They may have VIRUSES. I have Notified Marek about it. I have thanked this person for this Post. Gang it's just Happening again. I will just leave this one to show all what it is. Maybe they will just go away. I can not reach Marek at the moment. He is off setting up other things for the forum right now. So Please dont quote these post and just delete them in your emails & DO NOT CLICK THE LINKS. If we can not do this than I know Marek, and he will shut down the PM's. I dont want him to shut down the PM's. So Just delete these as you get them until he gets back to the forum. Thanks-neno

Economic Sales : trade exceeded nine billion dinars.

An economic report
Baghdad-Sabah
The company's sales exceeded general trade construction materials amount eight billion dinars last month. With sales of almost central market of one billion dinars for the month of September.

An official in the Construction Materials Trading Company of the Ministry of Commerce. In a press statement. The company achieved during last October sales of wood and iron materials, sanitary materials imported and local totaling eight billion and 270 million and 950 thousand dinars included the processing of citizens under the marriage contract and leave the building and the various government departments, these articles.

For his part, explained the source in the company of the central markets of the ministry also disclose that the company achieved during last September sales amounted to 964 million and 399 thousand dinars through branches in Baghdad and other governorates.

He said sales of Shopping Centers and markets of Baghdad hit 794 million and 664 thousand dinars. With sales amounted markets governorates 169 million and 738 thousand dinars.

He pointed out that the total income for the company central markets will hit 371 million and 359 thousand dinars for years.

Translated version of http://www.alsabaah.com/

[QUOTE=PlatanoKing;151821]Iraq officials reach tentative oil law deal-sources
Wed Dec 20, 2006 8:14am ET

By Mariam Karouny

BAGHDAD, Dec 20 (Reuters) - Iraqi officials have reached a tentative deal on an oil law that would allow the regions to negotiate oilfield contracts with foreign investors but gives the central government the final say.

Iraq desperately needs foreign investment to revive its shattered economy, which relies heavily on oil export revenues. The country straddles the world's third largest oil reserves.

Sources close to the negotiations said Prime Minister Nuri al-Maliki has "signalled his approval" of the draft, but the law still awaits political approval and endorsement by the cabinet.

The sources said the law calls for the formation of a national oil council -- led by either the prime minister or his deputy -- that will have the authority to reject oilfield deals.

"Regions will be negotiating in accordance with specific parameters and investment models decided by the national oil policy council ... in the presence of a representative of the national oil body," one of the sources told Reuters.

"If rejection happens and the region insists on the contract, a body of (independent) experts will arbitrate."

The oil minister, central bank governor, a representative from each region and oil, finance and economy experts will serve on the council, the sources said. Continued...

"The Kurdish regional government has accepted to review its existing contracts so that it wil become consistant with the law," a source said.

The industry desperately needs foreign investment to revive Iraq's shattered economy, which relies heavily on oil export revenues.

The contracts issue is vital to Iraq's future as a solution favouring the regions would devolve power over its most valuable resources to the majority Shi'ites and the Kurds whose regions are home to the country's most coveted oilfields.

Minority Sunni Arabs, who were the dominant group under Saddam Hussein before the U.S.-led invasion in 2003, fear regional devolution will leave them with nothing.


"Contracts will not become effective unless the national body does not reject it. If the national policy council were to reject any draft contract within a specified period of 60 days then the contract will not be effective," the sources said.

The sources said the law calls for Iraq's two national oil companies to be turned into a holding company with operational affiliates to manage different aspects of the industry.

It also says oil policy would be set nationally and the ministry of oil would be restructured and transformed into a regulatory body. All revenues would be deposited into a single national account.

Iraqi officials have said the law will be delivered to the parliament for ratification by the end of December. But the legislation is likely to be finalised early next year because of the holiday season, the sources said.

http://today.reuters.com/news/articl...clePage2&sz=13[/QUOTE

I was ask a question which I will respond to on the open forum. With the FIL passed and apparently the HCL about to be passed, "Would I expect a "run" on the currency"? The answer is yes. If I was any type of business expecting to do business in Iraq in the forseeable future, I would buy all the the currency I could lay my hands on. All of the multi-national companies have currency managers, and they are all watching currency rates in every country they do business in. They will be aware of the dinar that the CBI has pulled out of the economy, they will be aware of the recent rise in the dinar of about 7%. If they are planning to do business in Iraq, then to buy the currency now and let it continue to appreciate only results in eventually them being able to do business CHEAPER once they enter Iraq. The appreciation of the currency decreases their cost of doing business. I always thought this is why Haliburton reportedly owns 1 Billion dinar. Let it appreciate and they will "pay" for their operations in one of the most oil rich countries in the world. So, expect these large banks, oil companies etc. to position themselves with buying the currency. Wouldn't you do the same thing? Thank You.

Wm.Knowles ... just wondering at what point will the CBI
get alarmed with the purchase of such large amounts of
dinar by outside parties?

U.S. Captures Al Queda in Iraq Leader! http://www.cnn.com/2006/WORLD/meast...e.ap/index.html

Originally Posted by cathyb

Wm.Knowles ... just wondering at what point will the CBI
get alarmed with the purchase of such large amounts of
dinar by outside parties?

I believe that if I know this will happen out here on the great american plains, they know this in (CBI) iraq. All of this has been included in their plans from the beginning. They want the dinar to rise in value. I think we are certain about that. But why not use other peoples money (OPM) to do it. Pass the FIL&HCL and let the demand for the currency by the large corporations push the price upward. Their actions so far remind me of a "prime the pump", they (CBI) start the process and remove as much money as they can, then the demand by others will continue to increase the value of the dinar by classic supply and demand laws. Then it makes less of difference how much we (CBI)have in currency reserves. Thank You.

Originally Posted by Adster

U.S. Captures Al Queda in Iraq Leader! http://www.cnn.com/2006/WORLD/meast...e.ap/index.html

Good news, maybe the U.S will get off Iraq's back now. This should really push the RV for an earlier date.

neno good buddy, i would recommend editing to remove the link where ever it might show up. i am VERY much concerned that the site in question may contain mal ware like virus or trojans and think it would be best to avoid sending any of our members there for any reason at all.

Thanks.

DONE. THANKS clueless -neno

Originally Posted by Palanid

Hello,

First, Merry Christmas to you!

I just wanted to inform you of another place like this where you can find
lot of information on HYIPS, Autosurfs, Iraqi Dinars (lot of good info on it),
and PIPS (great updates).

Check it out here: < link removed >
Tell your friends and family!

Warm wishes

DO NOT CLICK THESE LINKS. They may have VIRUSES. I have Notified Marek about it. I have thanked this person for this Post. Gang it's just Happening again. I will just leave this one to show all what it is. Maybe they will just go away. I can not reach Marek at the moment. He is off setting up other things for the forum right now. So Please dont quote these post and just delete them in your emails & DO NOT CLICK THE LINKS. If we can not do this than I know Marek, and he will shut down the PM's. I dont want him to shut down the PM's. So Just delete these as you get them until he gets back to the forum. Thanks-neno

Originally Posted by PlatanoKing

Iraq officials reach tentative oil law deal-sources
Wed Dec 20, 2006 8:14am ET

By Mariam Karouny

BAGHDAD, Dec 20 (Reuters) - Iraqi officials have reached a tentative deal on an oil law that would allow the regions to negotiate oilfield contracts with foreign investors but gives the central government the final say.

Iraq desperately needs foreign investment to revive its shattered economy, which relies heavily on oil export revenues. The country straddles the world's third largest oil reserves.

Sources close to the negotiations said Prime Minister Nuri al-Maliki has "signalled his approval" of the draft, but the law still awaits political approval and endorsement by the cabinet.

The sources said the law calls for the formation of a national oil council -- led by either the prime minister or his deputy -- that will have the authority to reject oilfield deals.

"Regions will be negotiating in accordance with specific parameters and investment models decided by the national oil policy council ... in the presence of a representative of the national oil body," one of the sources told Reuters.

"If rejection happens and the region insists on the contract, a body of (independent) experts will arbitrate."

The oil minister, central bank governor, a representative from each region and oil, finance and economy experts will serve on the council, the sources said. Continued...

"The Kurdish regional government has accepted to review its existing contracts so that it wil become consistant with the law," a source said.

The industry desperately needs foreign investment to revive Iraq's shattered economy, which relies heavily on oil export revenues.

The contracts issue is vital to Iraq's future as a solution favouring the regions would devolve power over its most valuable resources to the majority Shi'ites and the Kurds whose regions are home to the country's most coveted oilfields.

Minority Sunni Arabs, who were the dominant group under Saddam Hussein before the U.S.-led invasion in 2003, fear regional devolution will leave them with nothing.


"Contracts will not become effective unless the national body does not reject it. If the national policy council were to reject any draft contract within a specified period of 60 days then the contract will not be effective," the sources said.

The sources said the law calls for Iraq's two national oil companies to be turned into a holding company with operational affiliates to manage different aspects of the industry.

It also says oil policy would be set nationally and the ministry of oil would be restructured and transformed into a regulatory body. All revenues would be deposited into a single national account.

Iraqi officials have said the law will be delivered to the parliament for ratification by the end of December. But the legislation is likely to be finalised early next year because of the holiday season, the sources said.

http://today.reuters.com/news/articl...clePage2&sz=13

Great news, just what we hoped!

Approval end of december, ratification and enacting together with FIL and ICI beginning of January.

Looks like the first week and 1st trading session of 8th January will be nice to watch!

We are close, closer, no no at the closest we have ever been!!

Guys, the NY Post has been so anti Iraq all this time, do we see a turnaround in thinking??? Do I hear a Wooottttttttttttttttt?

Amazing, we know so much more than these knobby reporters on $80k plus a year!


BAGHDAD ECONOMY STARTING TO BOOM


By NILES LATHEM



December 19, 2006 -- WASHINGTON - Iraq's economy is starting to blossom, providing an underreported success story for a war that has seen little else but bloodshed and chaos, according to a new report.
A story published on the Newsweek International Web site said that despite the sectarian violence and political chaos engulfing the country, there are signs that many sectors of Iraq's economy are healthy and growing.
Citing studies conducted by the World Bank, the International Monetary Fund and the U.S. Chamber of Commerce, the report said Iraq's economy grew 4 percent, by one account, and 17 percent, according to another.
The fact that Iraq's economy was able to grow at all is a major accomplishment - as well as what Newsweek called "the mother of all surprises."
Among the recent findings:
* Real estate, construction and retail sales industries are booming in Iraq.
* The number of registered companies in Iraq grew from 8,000 in 2003 to 34,000 this year.
* Iraq earned $41 billion in oil revenue this year.
U.S. officials cautioned that it's too early to call Iraq an economic miracle.
Unemployment remains at 30 to 50 percent throughout the country, and many experts believe that's contributing to the sense of despair among the population that is in part resulting in the violence.
Sources told The Post that the White House is considering proposals from U.S. military leaders to create an FDR-style public works/jobs program for Iraq as part of the new initiative that President Bush will unveil next month.
The report also said reduced customs restrictions and fees have made imported goods more accessible and affordable to many Iraqis.
Other studies showed a growth of almost 100 percent in salaries for those who have jobs.
And Iraqis have even had American-style tax cuts, the report said.