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

Originally Posted by lazyasL

i posted this yesterday on another site and didn't get much response...maybe someone from here might have an opinion........

Question?

On FXConverter - Currency Converter for 164 Currencies: I have been tracking the movement of the dinar. Something interesting is going on.

On Sunday, December 24 the CBI rate was 1352, and the conversion was $753.920 per million

On Monday, December 25 the CBI rate was 1345, and the conversion was $753.920 per million

On Tuesday, December 26 the CBI rate was 1338, and the conversion was $754.318 per million

On Wednesday, December 27 the CBI rate was 1325 and the conversion was $755.173 per million

Today there is NO change in the CBI rate, still at 1325 and the conversion jumped $17.12 to make the conversion at $773.292 per million……….WHY?

Now today (Friday December 29) still NO change in the CBI rate (which we know will be the same for the next few days) at 1325 and the concversion jumped $14.28 to make the conversion at $787.573 per million.....THOUGHTS

FXConverter - Currency Converter for 164 Currencies

Well, keep in mind that this is purely my speculation, but I suspect that even though they are not posting the change in the exchange rate that they are still having auctions that are affecting the daily rate. What I mean is that they are keeping the real rate internal and not divulging it to the general public. They made that statement a few days ago that they are going to post the rate as 1325 until the 7th, but then then they kinda hint that it is even though "wink wink" we know that is just a number we decided to stop at. I am guessing here, but I think they don't want everyone to see the larger drops in the amount of dinar per dollar. The reason being that if the general public saw 20, 30, 50 etc. drops in the dinar to the dollar that there could be:

A.) Massive speculation on Dinar in a short period of time.

B.) Large sell offs of Dollars which could also hurt locals.

C.) Cause wild fluctuations that could cause any increase in value of the Dinar to backfire and actually decrease.

Anyhow, this is just speculation, but I'd sure like to know what the rate will be on Jan. 7th, wouldn't you?

But hey maybe they are telling us the "truth" about keeping it at 1325, just as they have told us the "truth" so many times before....

State-run Oil and Natural Gas Corp (ONGC) and its private competitor Reliance Industries Ltd (RIL) are in talks to jointly develop Tuba oil field in southern Iraq, top ONGC officials said on Tuesday.

ONGC, through its overseas investment arm ONGC Videsh Ltd, along with RIL and Algeria's Sonatrach tried in 2000 to secure the field in Iraq for production of crude oil.

A senior company official, who did not wish to be identified, said ONGC had initiated talks with RIL and Sonatrach to revive the consortium and pursue the opportunity jointly.

ONGC chairman and managing director R. S. Sharma confirmed the project was being discussed, and said: "Yes we are in talks with Reliance on Tuba field."

A Reliance official declined to comment.

The ONGC official who declined to be named said discussions were still at a preliminary stage. He said ONGC and RIL were expected to hold a 30 per cent stake each in the project-specific consortium and Sonatrach would hold the remaining 40 per cent.

Iraq is expected to enact an oil law that would allow the regions to negotiate oilfield contracts with foreign investors.

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.

Analysts say if the consortium works out, it will be the first time that two arch rivals, ONGC and Reliance, work together abroad rather than competing.

"It is a great story. Cutting throats will not help. Cooperation is good for the companies and the country," said Anushree Sinha, senior fellow at National Council of Applied Economic Research.

India imports 70 per cent of its crude oil demand.

Shares in ONGC ended 2.64 per cent up at Rs 888.10 in a firm Mumbai market, while Reliance shares closed 0.42 per cent firmer at Rs 1,276.75.

ONGC, RIL jointly eye Iraq oil field | Iraq Updates

Originally Posted by Dinar Cha Ching

The problem is half of the bums in parliament left their job to go on the hajj instead of staying home to get the work done that's needed to help their country and it's citizens.

It didn't matter that they were given the OK by the religious leaders to stay home so they can get the work finished - they went anyway! If I were an Iraqi citizen, I'd be pissed!

Kurds make breakthrough on talks with Iraq
Kurdistan Region will receive 17 percent of Iraq's national budget.
By Hawar Kirkuki

--------------------------------------------------------------------------------

Erbil, 29 December 2006 (Kurdish Globe)
Print article Send to friend

Source: Kurdish Globe
KRG's Prime Minister Nechirvan Barzani poses in this photo in a press conference in Erbil International Airport, Dec. 19, 2006. Barzani said Kurds will receive 17 percent of Iraq's national budget in 2007.
Kurdistan Regional Government Prime Minister Nechirvan Barzani said that Kurdistan Region will receive 17 percent of Iraq's national budget, and urged the Iraqi government to implement the constitutional article regarding Kirkuk on time.

Describing talks with Baghdad as "successful and fruitful," Barzani told reporters upon his return to Erbil International Airport last Tuesday that the KRG reached an agreement with Iraqi authorities over Kurds' share of the national budget.

However, he added, "The agreement will be put before the Council of Ministers in Baghdad and they will make the final decision on it."

The KRG has asked the Iraqi government to hand over an alleged sum of $486 million(US) to the Region's treasury. According to previous agreements between the KRG and the Baghdad government, the price of oil per barrel was estimated at $26(US), while oil has been sold at more than $60(US) over the past year. Kurds demand a share of the Iraqi government's extra oil income.

The Iraqi government has agreed to pay $364 million(US) to the KRG in three phases. The rest of the money has been spent on projects in Kurdistan carried out by Iraqi government ministries, Kurdish officials say.

KRG officials also participated in talks on oil law in Baghdad. Barzani said he held talks with Iraqi Prime Minister Nouri al-Maliki on the issue.

Oil has been a major issue dividing Kurdish and Iraqi authorities in post-war Iraq. KRG says it is constitutionally allowed to drill for oil in areas under its control, but Iraqi oil officials have threatened that KRG's oil deals will not be "valid."

"Most of the oil wells are in southern Iraq, and the oil law allows KRG to talk with companies and make deals for oil production," Barzani said.

"In the future, a law will be issued, according to which each region and part of the country will have its share of oil revenues. We need to have our share of that and we are waiting for that law to be issued."

For most of late November and early December, a Kurdish delegation led by PM Barzani was in Baghdad to hold talks with central authorities over "suspending dossiers."

According to preliminary agreements between the KRG and federal authorities, a representative from the Baghdad government will attend talks between the KRG and oil firms. Once the KRG reaches a deal with a company to drill for oil in Kurdistan, the contract will be sent to Baghdad for assessment and approval by an Iraqi government committee. The contract will then be returned to the KRG and it will have 60 days to sign it.

"There needs to be some criteria according to which the (oil) contracts are investigated so as to know if there is any corruption in the deals or to what extent the company will implement its obligations," Barzani said.

Another issue on the agenda during the talks between the KRG and Iraqi officials was that of Peshmerga.

The Iraqi government had earlier asked the KRG to send its strong Peshmerga troops to southern and central parts of the country to provide security. However, KRG has been reluctant to accede to that demand so far, saying that some conditions must first be met.

Barzani told reporters that the KRG has asked the Iraqi government to fund Peshmerga forces from its $8 billion 2007 defense budget. But the Iraqi government has not yet agreed to that demand.

"After lots of talks ? we didn't achieve any result. But we insist that Kurdistan Peshmerga must have a share in Iraq's defense budget and we will continue our talks with Baghdad to resolve this issue."

In a closed session of the Iraqi Parliament last month, Mahmoud al-Mashhadani, Iraq's Sunni parliament speaker, had called upon the Kurdish leadership to send Peshmerga forces to Baghdad to protect the lawmakers.

The KRG has approximately 100,000 Peshmerga forces under its command and Iraq's constitution recognizes them as "regional guards."

Disputes over the oil-rich Kirkuk continued in Baghdad as well.

Kurds demand the normalization of the situation in Kirkuk in line with Article 140 of Iraq's national constitution that was ratified last year.

The Iraqi government has formed a committee for implementing the constitutional article, led by the country's Minister of Justice. Barzani reiterated the Kurdish stance that no delay in executing Article 140 is acceptable.

"We insist on implementing the constitutional Article (on Kirkuk) and PM al-Maliki reiterated that this article has to be implemented on time," PM Barzani said.

Iraq's constitution has set a three-step roadmap to normalize the situation in Kirkuk and other areas that were Arabized by the government of former President Saddam Hussein. A referendum on the city's fate is to be held by the end of 2007 on whether it should remain under central government's control or join Kurdistan Region.

The city is populated by Kurds, Turkomans, Arabs, and Christians, and is currently administratively linked to the Iraqi government.

Not sure what this means? But I thought I would post it.

Translated version of http://www.iraqipresidency.net/news.php?language=arabic&type=news

A Press Notice
December 28, 2006

كافةTo the media all
نلفت عنايتكم إلى أنه سيتم بث كلمة نائب رئيس الجمهورية الاستاذ طارق الهاشمي، بمناسبة عيد الاضحى المبارك، على الهواء مباشرة، يوم غد الجمعة الساعة الثامنة مساءا حسب التوقيت المحلي لمدينة بغداد، و يمكن لجميع وسائل الاعلام التقاط البث على التردد التالي:Call your attention to that will be broadcast speech of Vice President of the Republic, Mr. Tariq Al-Hashmi, on the occasion of Eid Al-Adha holiday, on the air, tomorrow, Friday eight p.m. local time for the city of Baghdad, and that all media Transistor MHz follows :




Satellite: W1Satellite W1 :
VerticalVertical
Frequency: 11045.25Section 11045.25 :
Symbol rate: 3125Symbol rate : 3125
FEC: 3/4FEC : April 3

mediaTo all media
We would like to draw your attention that Vice President Tareq al- Hashimi will give a live speech on the Occasion of Eid Al Adha tomorrow, Friday, at 8:00 p.m. Baghdad timing.We would like to draw your attention that Vice President Tareq al-Hashimi will give a live speech on the Occasion of Eid Al Adha tomorrow, Friday, at 8:00 p.m. Baghdad timing.

Originally Posted by OmaRich

Not sure what this means? But I thought I would post it.

Translated version of http://www.iraqipresidency.net/news.php?language=arabic&type=news

A Press Notice
December 28, 2006

كافةTo the media all
نلفت عنايتكم إلى أنه سيتم بث كلمة نائب رئيس الجمهورية الاستاذ طارق الهاشمي، بمناسبة عيد الاضحى المبارك، على الهواء مباشرة، يوم غد الجمعة الساعة الثامنة مساءا حسب التوقيت المحلي لمدينة بغداد، و يمكن لجميع وسائل الاعلام التقاط البث على التردد التالي:Call your attention to that will be broadcast speech of Vice President of the Republic, Mr. Tariq Al-Hashmi, on the occasion of Eid Al-Adha holiday, on the air, tomorrow, Friday eight p.m. local time for the city of Baghdad, and that all media Transistor MHz follows :




Satellite: W1Satellite W1 :
VerticalVertical
Frequency: 11045.25Section 11045.25 :
Symbol rate: 3125Symbol rate : 3125
FEC: 3/4FEC : April 3

mediaTo all media
We would like to draw your attention that Vice President Tareq al- Hashimi will give a live speech on the Occasion of Eid Al Adha tomorrow, Friday, at 8:00 p.m. Baghdad timing.We would like to draw your attention that Vice President Tareq al-Hashimi will give a live speech on the Occasion of Eid Al Adha tomorrow, Friday, at 8:00 p.m. Baghdad timing.

They'll probably have text of this later in the day, could be just a congratulatory speech for the Eid?

LIGHT BULB

"but could not determine the rate of exchange to proceed only after the real budget"

Budget should be in effect in Jan? If so is this what's held up our rv? If so the 8th sounds like a good enough time to get this party started!

Just a thought, but it makes sense!

Just spoke with my Kurdish friend and he confirmed that the $US is getting weaker compared to the IQD in Iraq.

I know this is not new news, but it is nice to hear it from a Kurd who has close family in Iraq who are also storing as many Dinars as they can.

Do you think they might know something?

Originally Posted by kiko

The first Iraqi President to visit Syria in 26 years
(Voice of Iraq) - 12-29-2006

The first Iraqi President to visit Syria 26 years ago ... Talabani in Damascus 12 next month Damascus-Ibrahim Hamidi life-29 / 12 / 06 / /

Official Iraqi sources in Damascus to «life» that President Jalal Talabani will visit Syria in the January 12 (January) next, at the head of a large official delegation. It will be his first visit to Iraq since President severing diplomatic relations between Baghdad and Damascus in 1980.

The Syrian President Bashar al-Assad received yesterday the Personal Envoy of Talabani Fakhri Karim after meeting with Vice President Farouq Al Shara, in the presence of Minister Mohamed help Nasif, Deputy Foreign Minister Fayssal Mekdad. Karim met Foreign Minister Walid Al-Muallim, after his meeting with Assad. The envoy told Iraqi President «life» that his visit to Damascus «very positive, especially as it culminated in a meeting with Al-Assad, who expressed positive unlimited, and a strong desire to overcome all the difficulties that prevent the creation of a strategic relationship (between Syria and Iraq) on all fronts».

He continued that al-Assad told him that he was personally sponsor «Syrian-Iraqi forces, and in all directions, and that is a priority for Syria regardless of the difficulties and obstacles». The sources pointed out that the Syrian and Iraqi sides were not enthusiastic «» for a tripartite summit Syrian-Iranian-Iraqi after a breakthrough in relations between Baghdad and Damascus to Baghdad to visit the teacher between 19 and 21 last month, although President Mahmoud Ahmadinejad was wanted in the summit. He was scheduled to visit Damascus Talabani at the end of this year, but some of the obstacles »« led to the agreement on access in the 12 next month, after a number of concrete steps in the direction of improving bilateral relations.

It is expected to be accompanied by the Iraqi president, in the visit that will last a few days, the leaders of a number of political parties, Foreign Minister Hoshyar Zebari and Interior Jawad Polanyi, and officials from the files of oil, the economy, trade and water, for the formation of committees with their Syrian develop relations and to take concrete steps.

Kareem said : «will be agreement on the development of economic relations», before referring to the possibility of benefiting from major projects Syria, Iraq, the budget would rise to $ 44 billion next year.

He added : «Kurdistan region can absorb all the workers who left the Syrians from Lebanon» after the withdrawal of Syrian forces in April (April) last year, prior to point out that the decision was made to b «» synchronization between enhancing security cooperation and the development of commercial relations.

The Iraqi president's envoy visited Damascus before a visit teacher Baghdad between 19 and 21 last month to agree on the four specific steps between the two sides culminated in the resumption of diplomatic relations this month. The sources said that the Syrian-Iraqi dialogue currently dealing with a change in the political discourse and the media to include «condemnation of all terrorist acts» and the lack of any political support to the rebels and the resumption of diplomatic relations and to address the security issue and the presence of officials of the former regime and cooperation in the fight against terrorism. While calling for the expulsion of Iraqi b «» or «controlling» «leaders of the Party of the Iraqi Baath» such as Ahmed Younis, former director of military intelligence, Taher Habush, the Syrian side, a lack of presence in the Syrian territories, and a number of them to leave Algeria and Yemen. The sources pointed out that the Iraqi who is, and his Syrian counterpart, Major General Abdel Bassam will finalize an agreement on a number of specific points on security cooperation after the signing of a memorandum of understanding during the visit of the Iraqi minister last week to Damascus and ensure cooperation in the fight against terrorism and the exchange of information.

The Syrian side expressed willingness to conduct joint patrols and cooperation with the Iraqi side to control the border and prevent the infiltration of fighters into Iraq. As suggested by the Iraqi side to provide «» full political support for the political process in Iraq and to the government of Nuri al-Maliki, which happened to the teacher's visit to Baghdad in the last month.

Sotaliraq.com


What is going on!!

Everywhere we read the $41 billion budget and now suddenly the budget rise to $44 billion!

That's $3 billion more, just like that out of nowhere.

Guys, I got the feeling more and more the truth is coming out and it's no coincidence that it happens now.

Iraq has a plan and it will be executed the next weeks!

WWWWEEEEAAAHHHHH!!

Thanks for this post kiko,
With so much good news being published lately I've been wondering how long it would take to see them increase the '07 Budget. This increase, I believe, is a very, very good sign of things to come !!

Like the guy with the thick accent says on the credit card commercial---
"VERY!... VERY!... VERY!... REWARDING! "

ND

Zubaidi said that Iran made a loan by one billion dollars to Iraq

.Finance Minister announced that Iran Bagheralzbidi loan provided by one billion dollars to implement a number of projects in the field of building hospitals, schools and roads, railways and pipelines, and the transfer of power into Iraqi territory.
".He said Zubaidi, who is visiting Tehran in a press statement yesterday, Thursday, "This soft loan and repaid over forty years and includes a ten-year exemption, or less than 1%."
راديو دجلةRadio Tigris

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