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

Originally Posted by shotgunsusie

HERES A BIG WET KISS FOR YA FACE!!!!!!!!!!! WOoTTTTT!!!!!!

Damn, I gotta find some great news so I can get one of those from Susie.

Originally Posted by phiberoptik

isnt it already sat there?

just now, 12:07am Baghdad Saturday December 30

Originally Posted by greatstuff

They're holding the price until the 7th (CBI are). We won't know their next move until the 8th (January). Meanwhile, the market is moving on and the rate is down to 1269.72 according to Oanda. Now we have several days to speculate as to what will happen on the 8th!

the article said no change in the rate UNTIL end of businessday on the 7th. now why in the hell would they wait til the end of the business day on a sunday??? BECAUSE THEY ARE INTRODUCING THE NEW RATE ON MONDAY SO THERES A SMALL LAPSE BETWEEN ANNOUNCEMENT AND FOREX OPENING IF ANY AT ALL. very smart business move.

Originally Posted by DinarLady

It's seems so ironic to me that Sadaam's lenching is at the very end of the year and at such a time as this!. ALL the pieces of the puzzle are in place. Strategically, it's the PERFECT time for an RV. Just before the Jan 2 fiscal year begins for Iraq, the FIL AND the HCL supposedly enacted. No real word on the 35k handout other than it appearing they are telling them to wait to cash in. Sadaam's lenching would be the perfect time for the restoration of wealth to the Iraqi people. Thanks to all of you serious investigators for posting your news finds and speculator opinions. YOU ARE APPRECIATED!!!
A HAPPY AND PROSPEROUS NEW YEAR TO ALL!!!

It would be great when that dictator who had committed those things for which the citizens of their own country has found him guilty of can now close their books on that portion of their ordeal. The Iraqi people have spoken, let them do what needs to be done. We, the United States of America and our friendly neighbors should stay out of the way and out of the "lime-light"! Have been to countries that say nice things and land a B-52 with some hot tomatoes on their land and watch them who should have never known what we carry on what aircraft, know to storm the gates and breakdown the fences to get to our aircraft, let alone create the panic that started other folks at getting hurt. Did not hear about this; well there are many things we do not hear or it does not make the news, you do not have to trust me on this, I really do not care as I have experienced these things first hand!

Let the Iraqis handle the "hanging" and the "burying". Let them supply their own rope, etc...We should just watch and stay out of their way; we have had too much hurt just because of the "hate" someone throws at our boys and girls!

By the way, maybe it might appears that the "true" RV "hold-back" could be the ultimate good excuse, that the dictator was holding it back, "artificially"! Now they can blame that on him as well! No matter, that boy is at the end of his rope, so to speak; at the end of an Iraqi Rope!

Originally Posted by D-Day

Read - http://www.iraqdirectory.com/DisplayNews.aspx?id=2844

The Iraqi Presidency Council issued Investment Law No. 13 of 2006, containing provisions for regulation, rights and encouragement for investors, encompassing Iraqis and non-Iraqis, designed for the phases of establishment and operation. The law aims to attract and encourage investment and the transfer of modern technologies to the country; to encourage both the Iraqi private sector and foreign investment in the country; to protect the property rights of investors and their profits, and the expansion of exports and enhancing the competitive edge at home and abroad.

The law covers all branches of investment, production and service activity, except for the extraction and production of oil and gas, banks, and insurance companies. However, it did turn out that the extraction activities for other minerals, in addition to the mineral refining and oil refining sectors, are covered by the law like other branches of industry, investment and other sectors like agriculture and tourism, health, etc.

The law does require the participation of an Iraqi partner with foreign investors, except for the purposes of licensing or enjoying tax exemptions and privileges and facilities. The law also stipulates the establishment of a National Commission for Investment to take up the task of implementing these provisions. It allows regions and governorates, provided they are not ensconced to the region, to form investment commissions in their own areas that enjoy licensing authority and the granting of exemptions and facilities and the management of investment projects there. In order to facilitate the licensing process, the bill authorizes the issuance of establishment approvals (investment licenses) through the establishment of the so-called 'single window' in the region or province.

The investor enjoys, regardless of nationality, all the advantages and facilities, guarantees and exemptions. In housing projects, the investor has the right to acquire the land needed for the project.

The rights, privileges and facilities in the new law include the following:

(1) Enjoying a tax exemption for a period of ten years from the year of operation, with an exemption on import duties for importing the requirements in the establishment phase, and the phases of expansion, development and modernization of equipment and machinery, means of transportation and materials, and the operational phase of the import of raw materials and intermediary and spare parts.
(2) Allowing capital and earnings in and out of the country and the opening accounts in banks inside and outside Iraq.
(3) Circulation in the Iraqi market for securities, bonds, equities, and the setting up investment portfolios.
(4) Rental of the land needed for the project for the period of 50 years; a renewable term. The right to own land also in housing projects.
(5) Facilitating the investor's enjoyment of additional advantages, especially according to the international bilateral agreements between Iraq and its government, or according to multilateral agreements. Including the right of the foreign investor to sell his project in whole or in part.

After nearly half a century of providing tax exemptions and generous assistance to the industry in Iraq, starting from the 1950s, the result was loss-making government projects that could only be resolved by selling them off. Project administrations, enterprises and factories became addicted to State assistance and protection. The projects were powerless to face up to competition, at home and abroad, accompanied by a qualitative and quantitative underdevelopment, and in terms of price, with unsustainable spin-off industries that feed key inputs into these sectors. They failed to catch up with the demands of the market for constant modernization and the fragmentation of demand. This also includes obsolete and marginal factories and declining investment rates from year to year, while the country gradually lost its ability to attract investments, and many bureaucratic complexities, and many of them administrative constraints, which prevent opportunities for progress, repressing the speed of response and wasting time and effort.

To what extent will the new law in this new phase achieve its objectives in attracting investments?

This depends primarily on the availability of advanced infrastructure, which, in turn, includes all the social, political and material factors, and not only the roads and bridges, and electricity and water; but also, the conditions of the parts and components manufacturers and the conditions of secondary, spin-off industries, and the availability of government management skills. Not to mention the tax system and the availability of transparency and the system of macroeconomic management, and the rates of education, training and the country's reserve of the educated, engineers and technicians, and population characteristics.

The availability of an infrastructure of this kind, along with the new investment law, will be a crucial factor in attracting investment.

The extent to which financial and administrative corruption is shrinking or expanding is another factor that attracts or repel investments.

In a Transparency Global (headquartered in Berlin) report, the State of Haiti ranked first among the most corrupt, and Iraq came in third. In his statement before the US Congress on February 8, 2006, former US Secretary of Defense Donald Rumsfeld said: "administrative and financial corruption in Iraq is omnipresent in all aspects of government administration and finance ". Even if this corruption recedes, there will remain a more deeply rooted problem, in the form of concepts, perceptions and attitudes inherited by the bureaucracy and in the government administrative cadres at all levels.

The new law has recommended adopting the so-called 'single window' to receive investment applications to decide on them. These recommendations follow the pattern of development and investment legislation in the developing countries for the purpose of simplifying procedures to save time, effort and money. Will the situation in Iraq become congenial to the establishment of this window? It is noteworthy that the General Directorate for Industrial Development in Baghdad applied this 'window' for more than a year. But what is being done by the aforementioned Directorate is just unifying the entity that receives applications (the formal side). As for the bureaucratic content, it remains the same as it was about 30 years ago or more, without change.

Certainly, Iraq will attract many investments after the issuance of the new law, but will the volume of these investments reach the desired ambition? As is the case in the South-East Asian countries, such as Singapore or Malaysia, for example, this also demands a revolutionization of the same concepts and ways of thinking and dealing with such topics. What is necessary is reliable economic administration that lays the foundations before the structure, and not vice versa, when it comes to handling development and dealing with investments. Only then can the new law achieve its goals and the aspirations of the country.

PAST TENSE BABY!!! WOoT!!!!! ITS BEEN ISSUED!!!!!!

Originally Posted by D-Day

Read - http://www.iraqdirectory.com/DisplayNews.aspx?id=2844

KISS YA FACE TOOOOOOOOOO WOoTTTTTTTTTT!!!!!!!!!!!!!!

Originally Posted by shotgunsusie

PAST TENSE BABY!!! WOoT!!!!! ITS BEEN ISSUED!!!!!!

That was the way I was reading it too. But I will go with your observation "First". There went that Kissing Post Again above.

OSW, you see all this?

Originally Posted by neno

That was the way I was reading it too. But I will go with your observation "First". There went that Kissing Post Again above.

OSW, you see all this?

Funny,

Sure do, and it is about time official announcements were made, now lets hear the one we have all been waiting for. Makes sense that they would at same time Saddam was swinging away in the wind. Have to defuse violence, right? How many are still holding their breath. (g) Crazy ride, that is for sure.

Good luck to all, Mike

The Iraqi Central Bank is expected budget deficit in 2007


Justice/ follow-up to the authorized source at the Central Bank of Iraq, it is expected that there will be a deficit in the budget next year, by the process of pumping dollars into the local market.

To preserve the stability of the dinar exchange rate. The Chief of Statistics and Research appearance Mohamed Saleh, the new budget will exchange allocations to the dollar, pointing out that the rise in the value of the dinar positively impacted by limiting expenditures, to reduce inflationary pressures in the Iraqi economy and reduce costs on prices. He pointed out that 95% of the revenue budget depends on oil revenues, as a basic resource for the country, pointing out that the future will be encouraging the conditions for lifting the value of the dinar against the dollar, but could not determine the rate of exchange to proceed only after the real budget. So, the dinar has risen against the dollar on speculation, "Central", and the sale price of the dollar last Sunday 1352 dinars, compared to 1360 dinars last Thursday. He expected the expert in the "Central" Majed picture, a marked improvement in the rate of the dinar, by the low dollar exchange rate, over the next couple of months. The latest rise in the rate of the Iraqi dinar against the dollar exchange rate in 1995, but the exchange rate stabilized after that between 1400 and 1700 dinars to the dollar. He attributed the "central" reasons for the high rate of the dinar against the dollar, the stability in the sale of one dollar below the rate of real exchange rate. He explained that the picture of inflation suffered by the economy now is price inflation, and not monetary inflation, pointing out that the goal of "Central" is to limit the effects of inflation. The price inflation Vaspaph known, and among lower commodity presentations, and some greedy exploitation of the circumstances through which Iraq, and expected significant improvement in the rate of the dinar, and the drop in prices at this improvement

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ies:

MTC Atheer 3m subscribers


Iraq-based MTC Atheer, a subsidiary of MTC Group, has increased by 200% to 3m the number of its subscribers in the past 11 months, Bahrain Tribune reported.

The company says it is investing $600m in its Iraq operations. The number of mobile users in Iraq is expected to grow from 8m to 14m by 2009, the company said.


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Posted on Friday, December 29