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

Leave. Proud as its currency move!

While. Popular, both popular in Iraq ...
!! ..While. For children who will live in a better and cleaner world! .
,And build their lives without fear of war,
او!! ..,Or reckless adventure shop for the massacres death free! ...
يحلمنWhile. For young women who have been able now to dream


Ok, not awake enough, and even then probably couldn't figure this one out, but that title was pretty eye catching, LOL
ãæÓæÚÉ ÈáÇÏ ÇáÑÇÝÏíä - - ÃÑÍá .. ÝÎíÑ ãÇ ÚãáÊå ÇáÑÍíá !!

Originally Posted by hightide3016

Hi Neno, I'm sorry. I didn't mean to get everyone excited over nothing. After I read the article the second time, I saw where it said "after the issuance of the law". Guess I'm jumping the gun, I'm expecting things to take off and run. Again I apologize.

This is the "THINK TANK", this is where we figure it out. No Need to apollogies Mate. We are all in this together. Great find tho. It explained the FIL and what it will be able to be use for. I am not no expert, and I apollogies for that.

Rates:

Sunday, December 31, 2006 1261.5 IQD

Monday, January 01, 2007 1260.4 IQD

Tuesday, January 02, 2007 1263.6 IQD


MENAFN - Middle East North Africa . Financial Network Currency Charts,Currency Update,Money Markets,Analysis,Projection

Originally Posted by kiko

I think it is been mistaken with ISX normally trading and the new electronic trading, which I believe would be up and running on 1 april 2007.

I got an e-mail from ISX department from Warka about it.
"The ISX will resume its trading activities on the 8th of January 2007."

Thanks Kiko, I see now that the April 07 dat was for the implemention of the electronic version of the ISX updates to be ready. But still the call of January 8th 2007 is for the resume duty of the ISX after the long Holidays. Is this correct?

Another TV channel shut down for 'inciting sectarianism'

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Baghdad, 02 January 2007 (Reuters)
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The Iraqi government ordered the closure of a popular independent television channel yesterday for inciting sectarianism, two days after the hanging of Saddam Hussain sparked anger among his fellow Sunni Arabs.

Sharkiya is owned by a London-based Iraqi businessman and says it takes an independent editorial line, though many viewers see it as leaning toward a minority Sunni Arab viewpoint.

The channel was still showing programming yesterday, as it broadcasts from Dubai, and it was not immediately clear what impact the government's order would have.

Interior Ministry spokes-man Brigadier Abdul Karim Khalaf said the government had ordered the channel to close indefinitely.

"We have warned them many times not to broadcast any false news that would increase tension in Iraq," Khalaf told Reuters, declining to specify which particular reports were false.

The order comes two days after Saddam's execution. The execution, which was rushed through by Iraq's Shiite-led government at the start of a religious holiday, and video of the hanging that showed Shiite officials taunting Saddam before his death, have raised fears of a backlash.

Asked if the move was prompted by Sharkiya's coverage of the execution, Khalaf said: "In the last three days if you watch their channel you can see they are leading people to violence and increasing the sectarian tension."

An employee of Sharkiya in Baghdad who declined to be identified said the channel had very few staff left in Baghdad and nearly all programming was done from Dubai.

The Interior Ministry had earlier ordered two television stations off the air in November when Saddam was convicted on the grounds they were inciting violence.

One of those channels was controlled by a prominent Sunni Arab politician and the other is based in Saddam's Sunni home region. The government already bans Al Jazeera and forced its main rival, Al Arabiya, to shut its Baghdad bureau for a month in September. Al Jazeera's new English-language service has started reporting from Baghdad recently.

Sharkiya is owned by businessman Sa'ad Al Bazaz, who also owns a widely read daily newspaper, Azzaman.

As with other media, several journalists and employees of Sharkiya have been killed, including one of Iraq's best known satirists, Waleed Hassan.

Originally Posted by neno

Thanks Kiko, I see now that the April 07 dat was for the implemention of the electronic version of the ISX updates to be ready. But still the call of January 8th 2007 is for the resume duty of the ISX after the long Holidays. Is this correct?

Because of Holiday, end year meeting and finalizing its working procedures the ISX is closed and resume trading on the 8th january 2007.

So the 8th will be nice to watch because ISX will resume trading, only on the normal way (as far as we know now).

Originally Posted by kiko

Economic Inflation is the prominent event in 2006

The phenomenon has grown more frightening and threatening to disrupt production sectors
02/01/2007
Source: Translated by IRAQdirectory.com

Iraqi economy experts find that the economic inflation phenomenon, which has begun to increase and had reached a frightening threat to the Iraqi economy, is one of the most prominent events in the country during 2006.

They emphasized in an opinion poll: "When the inflation rates in the countries of the world rise, they will rise to varying fractional, and this will compel the governments to make adjustments and changes in the economic decision, but the phenomenon in Iraq have taken another foreshadowing form, if it is unleashed, it will disrupt all productive sectors".

The economic expert, Dr. Madhar Mohamed Salih, said: "The dangerous phenomenon of inflation experienced by the Iraqi economy is one of the most serious economic phenomena because it is still continuing without finding any radical solutions to eliminate or control it effectively", pointing out that "part of the State policy to eradicate this phenomenon was to raise interest rates and other measures which are considered procedures for controlling and not eliminating it".

He explained: "The things that could be considered high profile events during 2006 is the fruitful movement of the Iraqi government for rescheduling the debt of commercial banks and foreign private sector to the government and quenching them with an international bill equivalent to the conditions of the Paris debt, amounting to 20 billion dollars".

Dr. Mohammed Risan, from the Economic Studies Center, said: "the economic inflation is one of the most prominent economic phenomena experienced by Iraq in 2006. It began to grow from the beginning of the year and continued without taking effective steps to stop or reduce the rate of its growth; which means that the country will live a serious economic crisis if effective steps were not taken to deal with it".

He explained: "The decision of the current Iraqi government to raise the prices of fuel by 125% compared to its prices last year, had a significant effect in raising the prices of foodstuffs, consumer goods and others; which created the appropriate environment for the growth of the phenomenon of economic inflation", pointing out that: "This did not come from the vacuum, but from the pressure imposed on Iraq by the International Bank and the IMF to reduce its debt, in exchange for raising the fuel prices without seeing the negative side, which Iraqis would live as a result of international resolutions that have more negatives than positives".

Dr. Sundus Abd Jassim, professor of international economics at the Faculty of Management and Economics in Baghdad explained: "The dramatic decline in the dollar exchange rate during the latest weeks is a phenomenon which should be taken into consideration because of the economic implications that could be reflected positively on the value of the Iraqi dinar".

She said: "The optimistic predictions for rehabilitating the deteriorating Iraqi economy coincide with starting the work by the budget of 2007; however, those predictions should be backed up by the State to raise the value of the Iraqi dinar versus foreign currency", adding: " the Iraqi government can eradicate the phenomenon of economic inflation through ongoing work to develop plans and programs to reduce the value of foreign currency against the Iraqi dinar".

It is noteworthy that the rate of inflation during the last year ranged between 25 and 30 per cent, while reached up to 77% during the current year.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2867


There is a solution and they know it!

they wrote the solution right in the middle of the statement. lol

Originally Posted by Dinar Cha Ching

What will it take to get these people to do something, anything, for themselves!? It's like they're in La La Land. I've never seen anything like this before!

oh they know but as has been said before several times, 'in their own time'. they want certain things done before they revalue that dinar and by god they are gonna get those done no matter how much sacrifice 'others' go through in the process.

the articles are more or less telling us everything they are doing so until they get all they want done FIRST they arent going to revalue that dinar til the last i is dotted. from the looks of the sunni rantings over there i would suggest they give those grumpies what theyve wanted all along and thats their darn money.

Originally Posted by hightide3016

A Law for Investment in Iraq

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

02 January 2007 (Dar Al-Salam)
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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.

there you have the investment law ISSUED. IMO two of the 3 laws announced and issued. weve always said gotta have that dinar revalued before you enact that investment law, this is the largest indicator that it will revalue before they open business back up to me.

Originally Posted by kiko

OK, I am going crazy.

Lateley I mentioned that I got the feeling that the Iraqi Dinar could be set to the Euro.

I was reading and I found this investors website.
I almost got a hart attack.

Anyone who knows this site or nows if that has been longer there, please let it know.

Here is the part:

"Potential Value increase of a 1 Million Iraqi Dinar holdingIf the value of Iraqi Dinar increases to: The resulting value of your 1,000,000 Dinar would be:
$0.01 $10,000
$0.10 $100,000
$0.20 $200,000
$0.50 $500,000
$1.00/Iraqi Dinar $1,000,000

IT IS NOW CURRENTLY BEING SET AT THE EURO DOLLAR $1.27
IRAQ IS GOING TO BE IN THE STOCK MARKET BY EARLY 2007
THE IRAQ INVESTMENT LAW WAS PASSED ON NOVEMBER 30, 2006 WHICH WILL ENABLE IRAQ TO ALLOW INTERNATIONAL INVESTORS IN"

Link:Investors Hub - strongtower Investments and Momo Runs



My god, this must be a mistake, joke or what or else I am having a hart attack here.

CURRENTLY BEING SET TO THE EURO = $ 1.27, O LET IT BE, LET IT BE!!

please,can someone explain this,I am amazed and excited! Great find! Now we need one of you experts to shed some light on this.
thanks,
Sarah