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

Originally Posted by rvalreadydang

sorry if posted already

Maliki : three important laws taking place next year

.He said Iraqi Prime Minister Nuri al-Maliki at the conclusion of a meeting of the Council of Ministers today, Thursday, that the new year would witness a three important laws will have a significant impact in the wheel of development is the law of the retirement and investment law and the law of oil.
."The Maliki at the end of the meeting televised today that the three laws task "has been completed and will be out next year." He added : "We will also activate the work of the care of the families of martyrs and the welfare of prisoners who have been arrested and tortured at the time of the former regime, in addition to the commencement of the implementation of the housing project, which soon will be in the first stage of some categories of people." Al-Maliki did not mention those categories, however, said that "the second phase will include all the sons of the Iraqi people through soft loans from the Land Bank of Iraq."

http://64.233.179.104/translate_c?hl...sp%3FID%3D2002

i thought i read where the retirement law was to take effect on the 1st?
and if you read this article, it indicates that the three law 'task' and i assume that means passing/ratifying HAS BEEN COMPLETED. that tells me in this article anyway they are saying the three laws listed above are ready for the stage, let the show begin!!!

Originally Posted by mountaingirl

Iraqi gov''t distributes 22 billion Iraqi dinars to victims of Saddam''s

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

Today 02 Jan 2007

POL-IRAQ-COMPENSATIONS
Iraqi gov't distributes 22 billion Iraqi dinars to victims of Saddam's

regime (with photos) BAGHDAD, Dec 27 (KUNA) -- The Iraqi government on Tuesday distributed 22 billion Iraqi dinars (approximately USD 16.6 million) in compensations to Iraqis who had their properties seized by Iraqi dictator Saddam Hussein's regime.

In a special ceremony held on this occasion, Iraqi Prime Minister Nuri Al-Maliki said that the dictatorship was gone and would never come back to Iraq, asserting that the government was planning to compensate all victims of Saddam's regime.

Iraqi government official Ahmad Al-Barrak said there are 33 resolutions to compensate citizens who lost their properties due to the practices of Saddam's regime, noting that those who received compensations attended a special ceremony held in Baghdad that was patronized by Al-Maliki and major government officials.

Al-Barrak added that citizens expect the government to be just and compensate victims of Saddam's regime, noting that the concerned government authorities are carefully looking into each complaint to verify all documents and give people back their rights.

He noted that the violations of Saddam's regime are major and complicated, and there are thousands of citizens who demand their rights from the government and the government should at least compensate them for their properties if these properties cannot be returned to them.

The compensation ceremony coincides with an Iraqi court announcement to uphold the death sentence against Saddam Hussein, his half brother Barzan Al-Tikriti, and their aide Awwad Al-Bandar.

http://www.kuna.net.kw/Home/Story.a...=en&DSNO=938075
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I wonder with this amount passed out if we will be waiting longer for an rv.:sads:

Answer to your question is NO!!!!!!!!!!!!!
Ok if they gave them the money today (do you think they would of handed out 22 billion dinars, and people would be walking around with it.)
NO they would of had them put it in the bank or giving it to them in some sort of check or card (I would think)
They'll have them open accounts (I would think)
Does our government give us cash (NO) paper money always
If they gave the money(checks) out today(Tuesday) it's only 8:42 in the
morning there right now. January 2nd
The banks aren't supposed to open till January 4th, after EID HOLIDAY
The article we read earlier said something about 3 Jan.
so possible r/v then (ON Jan 3rd) and have people bring in the checks after r/v.
That way they r/v before people come in to cash checks.

There's NO WAY their gonna give out dinars without an r/v first.

That's my opinion!!!!


But don't forget we've read before about them giving them out money and they still haven't done so YET
BUT WHEN THEY DO THE R/V WILL TAKE PLACE FIRST, THEY WON'T GIVE OUT MONEY THEN R/V AFTER PEOPLE CASH IN
SO DON'T GET WORRIED

Originally Posted by Mike5200

Folks do you really think that the man from Warka is telling the truth here? He's certainly NOT going to say January 7th and add to the current wave of speculation going on, and if April 7th is the real reval date He's not going to be liable for revealing that either. See in the rumors thread:25 to 1 by Jan-my post #12, item #3 where the man who worked in the Irish foreign exchange states "If it comes out you will be put in jail for the rest of your life for the leak".IMO they cannot wait this long to reval because of the pressure of the street rate that Knowles has talked about today plus all the news and other issues discussed here the last few days.

the quote was from taha, the isx dude.

sittin here thinkin about it and im wondering if they are going to raise the rate of the dinar and still not allow investors into the isx until april in order to allow locals to get their fingers dipped in heavy before they allow foreign investment to come in, and at that time for an elevated price???

Originally Posted by shotgunsusie

the quote was from taha, the isx dude.

sittin here thinkin about it and im wondering if they are going to raise the rate of the dinar and still not allow investors into the isx until april in order to allow locals to get their fingers dipped in heavy before they allow foreign investment to come in, and at that time for an elevated price???

This is a VERY good point. I definitely read this about 6 months ago. In the statement Iraqi officials were pushing to give Iraqis first shot at the investment opportunities!

Originally Posted by shotgunsusie

the quote was from taha, the isx dude.

sittin here thinkin about it and im wondering if they are going to raise the rate of the dinar and still not allow investors into the isx until april in order to allow locals to get their fingers dipped in heavy before they allow foreign investment to come in, and at that time for an elevated price???

...which I would presume would be GOOD for those who have already jumped on the ISX bandwagon.

The dollar exchange rate stabilized against the Iraqi dinar at the conclusion of the Iraqi Central Bank sessions last Thursday for the past week, recording 1325 dinar, which is the same exchange rate last Wednesday, for the first time in more than two months.

The demand for the dollar recorded a slight fallback, hitting six million and 665 thousand dollars against seven million and 300 thousand dollars last Wednesday.
The purchase orders distributed between five million and 925 thousand dollars in cash and 730 thousand dollars in the form of remittances to abroad; the bank fully covered them at an exchange rate amounted to 1325 dinar.
On their part, the six banks participating in the auction made offers to sell the dollar hit 730 thousand dollars bought by the bank in full at an exchange rate reached 1323 dinar.

The economic and industrial expert, Abdul Razzaq Sadiq Al-Abayachi, described in a statement the stability of the exchange rate as a positive indication that will allow the market to restore its health and mend the damages caused by the daily and frequent drop of the exchange rates which caused transactions to lose credibility.
Al-Abayachi pointed out that the long holiday the auction will have for more than a week because of Eid Al-Adha, will allow much of the smooth circulation, without risks of the decline of the currency, and the settlement of a number of trade deals.

News update

Iraq's Baath party names new leader

Saddam's body was laid to rest early on Sunday [AFP]

The Baath party has issued a statement received by Al Jazeera.net appointing Izzat al-Douri, its deputy secretary-general, as secretary-general, succeeding Saddam Hussein, who was executed on Saturday.

Al-Douri is one of the few former Saddam government officials who are still on the run.

The US has put a $10m bounty on his head. The party, which has been an underground movement since the 2003 invasion of Iraq, has vowed to continue its armed campaign to "liberate Iraq". The statement said Iraq is "under US, UK, and Iranian occupation". (When have they been acknowledged?!)

The statement described the execution of Saddam as a crime and political assassination.

Leadership

Abu Muhammad, a Baath party spokesman, said al-Douri was responsible for steering the party after Saddam's capture in December 2003.

He said: "Comrade Izzat has been leading the party's political and resistance factions since 2003, but it is a matter of protocol and internal regulation to appoint him officially as the party's secretary-general."

Al-Sadr wanted Saddam dead, saying he was
responsible for the death of his father [AFP]
After Saddam's execution, Nuri al-Maliki, the Iraqi prime minister, invited the Baath party to join the political process in the country and open a new chapter.

Muhammad said: "We would like to tell Mr al-Maliki that our only mission is to continue armed struggle until we get him and his ******* [the US] out of our country.

"The martyrdom of President Saddam would be just another boost to our people's resistance against his corrupt rule and foreign occupation."

Blackout

"I have no sympathy for Saddam, but his life is not worth the lives of innocents that die daily in Baghdad"

Saracen, Palestine

Muhammad further accused the Iraqi government and US authorities in Iraq of imposing a media blackout on Iraqis' reaction to the execution of Saddam.

He said: "Media outlets have been focusing on reactions in President Saddam's home town and few other Iraqi Sunni Arab cities, but we would like to say that people all over Iraq have been mourning the death of their legitimate president for two days.

"In al-Shatra in the southern governorate of Dhu Qar, there have been clashes where angry citizens attacked the al-Sadr al-Mahdi Army and killed eight of them and injured dozens."

Muqtada al-Sadr, the Shia leader, and his supporters had called for Saddam's execution. They hold him responsible for the death of al-Sadr's father in a car crash in 1999. Iraqi authorities at the time had denied any involvement in the elder al-Sadr's death.

Jordanians grieve

In another development, Jordan's Baath party said it will organise a symbolic funeral in Amman on Friday.

On Monday, Ahmed al-Najdawi, a spokesman, said the party has been receiving condolences from Jordanian political parties and people for the last two days.

He said: "Politicians and people from all backgrounds have expressed their sorrow for the loss of President Saddam Hussein.

"Today there was sit-in at the trade unions' compound to protest against the crime of assassination committed by the occupation authorities in Iraq. Mrs Raghad, President Saddam's daughter, attended the event."

It was Raghad's first public appearance after the death of her father, and was her first public participation in public political activity since she was offered asylum in Jordan in 2003.

Source: Al Jazeera

Iran to replace dollar with euro
Iran also indicated that it will calculate
its budget revenues in euros

The Iranian central bank is to convert the state's foreign dollar assets into euros and use the euro for foreign transactions.

"The government has ordered the central bank to replace the dollar with the euro to limit the problems of the executive organs in commercial transactions," Gholam Hossein Elham, a government spokesman, said on
Monday.

"We will also employ this change for Iranian assets [in dollars] held abroad."

Elham said that Iran's budget would in future be calculated in euros.

"Until now the budget has been calculated according to revenues in dollars but this calculation will now change," he said.

Oil revenue

The move comes amid pressure from the United States for the UN Security Council to agree sanctions against Iran over its controversial nuclear programme.

The US alleges that Iran is covertly building a nuclear weapon. Iran says that its nuclear programme is purely for civilian use.

Elham implied that the move to the euro would also apply to Iran's oil revenues.

"Foreign income sources and oil revenues will be calculated in euros and we will receive them in euros in order to put an end to our dependence on the dollar," Elham said. (Fear of the US)

Bankers in Iran have said it has become difficult to receive Iranian-held money denominated in dollars from European bank accounts.

They said that this was because of US pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic. (they don't want the US freezing any of their accounts when the time comes)

Originally Posted by Vipor

...which I would presume would be GOOD for those who have already jumped on the ISX bandwagon.

would put us on an 'iraqi' level so to speak.

payment for those who thought wisely enough to invest in their country when they couldnt themselves.

Norwegian oil companies join forces
Reiten, left, and Lund are expected to become chairman and CEO respectively

Statoil, the Norwegian oil company, is to acquire the oil and gas activities of Norsk Hydro, creating the world's largest offshore production group, the two companies announced on Monday.

Both companies' boards as well as the Norwegian government have approved the takeover, which is expected to be completed by the third quarter of 2007.

The merger will create a combined ouput of 1.9 million barrels per day in 2007 and a total of 31,000 employees.

The merged company would be the world's biggest off-shore oil and gas producer, ahead of Anglo-Dutch Shell, Brazil's Petrobras and Britain's BP.

State interest

The new company will be 62.5 percent state-owned, though the state is expected to eventually raise its stake to 67 percent.

"The industry faces an increasingly challenging international landscape. To merge now makes perfect sense," said Jan Reinaas and Jannik Lindbaek, the respective chairmen of Norsk Hydro and Statoil, in a joint statement.

Norsk Hydro's share price jumped 23 per cent to $40.47 on the Norwegian stock exchange following the merger announcement. Statoil shares rose nearly 7 per cent.

Statoil's shareholders will own 67.3 percent of the merged group and Norsk Hydro's shareholders 32.7 percent.

Helge Lund, Statoil’s chief executive officer (CEO), is expected to continue in that post for the new group, with Eivind Reiten, Norsk Hydro's CEO, becoming chairman of the board.

"This is the start of a new era. We are creating a global energy company and strengthening Norway's oil and gas industry," Jens Stoltenberg, Norway’s prime minister, said in a statement.

"The government sees the recommended merger as industrially and strategically well founded," he said.

Strategy

Norway is the world's third largest oil exporter, behind Russia and Saudi Arabia.

But as oil resources deplete on the Norwegian continental shelf, Statoil and Norsk Hydro have turned looked further afield to maintain their independence.

Furthermore, a recent decision by Gazprom, a Russian gas company, to shut out foreign oil companies from the development of the Shtokman gas field in the Barents Sea was a severe blow to the Norwegian companies.

The new entity will be present in close to 40 countries and will have proven oil and gas reserves of 6.3 billion barrels of oil equivalents.

Statoil is based in the western port of Stavanger and employs about 24,000 people in 31 countries.

Norsk Hydro, based on the outskirts of Oslo, employs about 33,000 people in 40 countries. It is the world’s third-largest aluminium producer.

Haven't we seen these guys making deals with the Kurds? Me thinks so.