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

(MENAFN) Due to continuous delays in the issuance of export licenses by the Iraqi ministry of commerce, dates exporters said that the export of Iraqi dates is in danger of losing competitiveness to other dates exporting countries, Iraq Directory reported.

A dates merchant, said that he suffered serious losses after the ministry delayed the issuance of export licenses from October to December. This delay forced importers to turn away from Iraqi dates.

Another merchant referred the current crisis in dates export to the unstable security situation and the government routine. He added that Iraqi traders have to export their dates via Dubai and this adds extra expenses for them to pay. He also said that Iraq has lost very important customers with large markets like Pakistan, India and European markets.

He pointed out that the Iraqi market witnessed a sharp decline in the quantities of domestically produced dates, because of agricultural pest, and the difficulty of providing means to control them permanently.

A researcher said that Iraqi wealth of palm trees has dropped from 30 million trees in 1980 to only 2.7 million currently. He added that Iraq used to export 500 tons of dates annually including 624 types of fine dates.

Originally Posted by kiko

For everybody that missed the post today, here again!

I placed a message on another forum with the question if somebody knew more about the exchange rate in Iraq.

It is mentioned in a television show in Iraq about a month ago that they have the plan to try to increase the exchange rate to 1000:1 and then to remove 3 zeroes.

This is exactly in line with the article about raising the value of the dinar and then raising the 3 zeroes.

That would mean that it will set to a 1:1 level.

We know that there will be no reprint, so it only can be by improving the real exchange rate!

Maybe other have heard or saw something similar!

It was Alhurra-Iraq News!

We must be close!

You seen this Post: http://www.rolclub.com/rumors-predic...tml#post156285 It starting to look like this is exactlly what has been said of the Markets. Just need to wait on the 15th from this post.

MENAFN - Kuwait News Agency (KUNA)) Director General of the international organizations department at the Kuwaiti Ministry of Commerce and Industry, Nafl Al-Dosari, called for the activation of Kuwait's membership in the World Trade Organization (WTO) through cooperation among local official institutions.

Al-Dosari told Kuwait News Agency (KUNA) although it has been a long time since Kuwait has joined the organization which includes 150 member states, it has not taken full advantage of its membership benefits.

Kuwait had easily gained membership in the WTO in comparison to other nations, he added.

Kuwait was asked in 1994 to estimate the tariff's ceiling on all products by 100 percent and 15 percent as stamps' fees in addition to specifying the availability and non-availability of investment opportunities in Kuwait Kuwait gained its membership on January 1st 1995.

The WTO aims at opening markets under the condition that the country provides an appropriate economic environment and upgrades its state departments especially the private sector to become a strong competitor. Al-Dosari said the WTO is currently working on boosting the activities of the free trade zones and this goes along with Kuwait's objective to sign free trade agreements with India, China, Pakistan, EU, Turkey, Singapore, Australia and other countries.

The department is considered a coordinator in observing and implementing the international trade's agreements with the country's institutions and Minister of Commerce and Industry Falah Al-Hajri is the one who heads a committee which is dedicated for such purposes and its members are about 16 which represent different sectors in the country, Al-Dosari said.

Al-Dosari hoped that Kuwait would further benefit from its membership in the WTO which would eventually boost Kuwait's economy and enhance the trade relations between Kuwait and other member states.

Task force helps revitalize Iraq's industries
Sunday, 07 January 2007
By Donna Miles
American Forces Press Service

WASHINGTON — A team of 25 industrial leaders and business analysts is headed to Iraq to join 35 others already there working to get almost 200 idle Iraqi factories up and running.

The industrial revitalization initiative is part of a sweeping plan to get Iraqis back to work, restore their livelihoods and jump-start Iraq’s economic base, Paul Brinkley, deputy undersecretary of defense for business transformation, told Pentagon reporters yesterday.

Brinkley said the effort has another equally important objective: to ensure that Iraqis don’t turn to terrorism simply because they see no other way to feed their families.

Army Lt. Gen. Peter Chiarelli, former commander of Multi-National Corps - Iraq, told reporters in Baghdad last month there’s strong evidence that rampant unemployment is fueling the insurgency. He pointed to the example of a former factory worker who had turned to planting improvised explosive devices for the insurgency so he could feed and care for his family.

Reopening industries and improving job satisfaction among Iraqis would go a long way toward neutralizing the forces giving rise to sectarian violence, Chiarelli told reporters.

“Putting young men and middle-aged men to work would have a tremendous impact on this level of violence we’re seeing in and around Baghdad and also in the other provinces,” he said.

Operating under the auspices of the Task Force for Improved Business and Stability Operations in Iraq, DoD and other U.S. agencies, Iraqi officials and the corporate world are working to reopen 193 industrial operations once owned by the Iraqi government.

These businesses, which have sat idle since Saddam Hussein’s fall in 2003, once employed 10 percent of the Iraqi population, Brinkley said. But their impact on the Iraqi economy was even greater, because private-sector companies provided goods and services to the government-run factories. So when the factories closed their doors, the private companies’ customer bases dried up and they, too, were forced to close.

The U.S. government's economic effort in Iraq initially focused on reconstruction, with an assumption that Iraq’s private sector would eventually take over the idle government-owned businesses, Brinkley explained. But that never happened.

So the Task Force for Improved Business and Stability Operations in Iraq, which was working to improve DoD contracting operations in Iraq, shifted its focus in May to stepping up the process.

“We quickly came to the conclusion that we had a huge near-idle industrial base, that, reengaged, could put a lot of people back to work and restore normalcy to a sizeable amount of the population,” Brinkley said. “So we immediately embarked on turning that industrial base back on.”

Initial plans call for opening the first 10 factories quickly, with the estimated $5 million in start-up costs to be paid by the Iraqi government, he said.

Many of those 10 companies, which provide goods and services ranging from building materials to industrial products to clothing and textiles to drugs and medical supplies, are expected to open within the next six months, Brinkley said.

“Our expectation is that every month in 2007, we should be putting thousands of Iraqis back to work across the country,” he said. “And if we do that, we will create a whole cascading series of beneficial impacts.”

The challenges the task force faces are enough to stump even the most visionary Harvard Business School graduate.

“The work involved is (a) hard, roll-up-your sleeves” effort that requires getting on factory floors with plant mangers to determine what’s needed to get it restarted, Brinkley said. “What are the constraints? Does it have supply? Does it have customers? Are the customers ready to buy things? If they don’t have customers, how can we generate demand for them? Do they have working capital? Are the ministries ready to infuse working capital into the operation? Those are all the things you deal with in business.”

Task force members are rotating into Iraq two weeks out of every month to address these issues and help get the factories running.

“What we are doing is assessing these factories," Brinkley said. "We are bringing in expertise. We are bringing international industry to bear to create demand for these factories.”

But Brinkley emphasized that the goal is for the Iraqi government, not the United States, to fund the effort. “We want this to have an Iraqi face. This is Iraq’s industry,” Brinkley said. “And we want Iraq to be involved in getting it restarted, and they are extremely supportive of this.”

Once the factories are opened, Brinkley said the U.S. military will contract with them as much as possible for goods and services supporting U.S. military operations in Iraq. Most of this business, which amounts to about $4 billion a year, currently goes to companies outside Iraq.

This will enable the United States to continue supporting its deployed troops in a way that reduces the logistical burden but also stimulates economic growth in Iraq, he said.

“We’ve set a collective objective that we would like to see 25 percent of that $4 billion flowing into the Iraqi economy within a year,” he said.

As this effort moves forward, Brinkley acknowledged that newly reopened factories have the potential to become terrorist targets. Task force members, however, are optimistic that newly reemployed local workers will help prevent violence that threatens their livelihoods.

Brinkley noted that even in the most violent areas of Iraq, many of the empty factories went untouched by insurgents and looters alike. In some cases, new equipment, computers and inventory remained in place, a sign, he said, that local leaders protected them against damage or theft because they recognized their value to the community.

“That’s a good story because what we think is chaotic is actually controlled,” he said. “Somebody has made it clear, ‘Don’t touch that factory.’ That’s a good sign. We can get that factory turned back on.”

This initial effort will have “a huge cascading effect” in Iraq, where a single breadwinner supports 13 other people. By comparison, the average U.S. worker supports four people, he said.

Ultimately, Brinkley said economic progress in Iraq will help drive other forms of progress forward. Reopening factories isn’t the full answer, he said, but it is an important part of the overall strategy for success. “It’s a piece of the puzzle,” he said.

When Iraqis have the opportunity to return to their jobs and provide for their families, no longer will terrorism appear to be their only financial option, he said. When this happens, “an insurgent (will) become a zealot, not just someone trying to make a living,” he said.

IA, IP team up for Baghdad ops
Sunday, 07 January 2007
By Spc. Alexis Harrison
2nd BCT, 1st Cav. Div.


The 4th Squadron, 9th Cavalry Regiment's Military Transition Team commander, Maj. Chris Norrie, speaks to an Iraqi police captain during a joint operation in central Baghdad. The operation marked the first time the Iraqi Army teamed up with Iraqi police to conduct a joint operation on Haifa Street in more than 16 months. U.S. Army photo.BAGHDAD – The 4th Squadron, 9th Cavalry Regiment's Military Transition Team has been overseeing operations performed by the 3rd Battalion, 5th Brigade, 6th Iraqi Army Division for more than two months now.

To effectively beef up law enforcement and security in the area, another group of Iraqis stepped up to join into the fight to make Haifa Street a safer place.

On Dec. 28, the Iraqi Army battalion teamed up with police from the Al-Jeafer Police Station in a joint operation to seize high-value targets and show the locals they had a police force they could count on, said Maj. Chris Norrie, the commander of the 4-9 MTT.

U.S. and Iraqi troops and the police targeted an area where intelligence resources reported the wanted men were staying.

The police and Iraqi Soldiers stormed the building and went floor-by-floor looking for their targets. Unfortunately, none were found, but Norrie said finding high-value targets wasn't necessarily what it was all about.

The Barton, Vt. native said that the operation between the Iraqi police and army was the first step in building a relationship that would hopefully lead to future joint operations.

According to Norrie, this was the first time in more than 16 months that the Iraqi Police and Army have worked together in this area.

Originally Posted by neno

You seen this Post: http://www.rolclub.com/rumors-predic...tml#post156285 It starting to look like this is exactlly what has been said of the Markets. Just need to wait on the 15th from this post.

Exactly Neno!

It seems your source knows exactly what's going on!

The statements of your post "we talk further after the 15th" and "it could be happening sooner than june 2007" makes me think that he knows a hell of lot more!

Is there a possibility that you can contact him again, before the 15th?

More and more I got the feeling we are gonna hit that 1:1 level very soon!

I am so damned curious!

Originally Posted by kiko

Exactly Neno!

It seems your source knows exactly what's going on!

The statements of your post "we talk further after the 15th" and "it could be happening sooner than june 2007" makes me think that he knows a hell of lot more!

Is there a possibility that you can contact him again, before the 15th?

More and more I got the feeling we are gonna hit that 1:1 level very soon!

I am so damned curious!

You know if I do I will report. I just don't want to push tomany Buttons before I have Trust. But, I will continue this in that Thread as the time comes.

Hmmm, perhaps two options (just opinion)

Now, just came out in a post of Mike5200, that Hydrocarbon Law is before Parliament within days.

I think that HCL will be passed this week by Parliament. CBI can let the dinar increase this week more to the 1000:1 level.

HCL will be ratified by President and enacted next weekend, together with FIL and ICI and exchange rate could be set to 1:1 level.

Other option:

I asked Mr. K from Warka about electronic trading. He said to me that there were rumors in the market of June 2007 it would be done.

We have read articles that it would be done by april 2007.

Now, we recently have read articles about the head of ISX asking for rapid implementation of the Investment Law, because ISX was ready.

Now, why would the head of the ISX be asking for rapid enacting the Investment Law if they weren't ready?

In my opinion there is a possibility that they are implementing the electronic ISX right now. For these actions, you need time to test etc.
Best is to this during long holidays (like now).

Warka said there was a trading session on the 8th. Now there is no trading session tommorow but on the 10th.

There is a possiblity that they are implementing electronic ISX right now and enacting FIL at the same time.

Next days are really exciting!!

Originally Posted by kiko

For everybody that missed the post today, here again!

I placed a message on another forum with the question if somebody knew more about the exchange rate in Iraq.

It is mentioned in a television show in Iraq about a month ago that they have the plan to try to increase the exchange rate to 1000:1 and then to remove 3 zeroes.

This is exactly in line with the article about raising the value of the dinar and then raising the 3 zeroes.

That would mean that it will set to a 1:1 level.

We know that there will be no reprint, so it only can be by improving the real exchange rate!

Maybe other have heard or saw something similar!

It was Alhurra-Iraq News!

We must be close!

This again is the TV broadcast where the MOF called for 148. Most of know he meant 1.48 USD Plus there is also the mention of lifting zeros and mention of Turkey. But i do not see any mention of 1000:1 perhaps it is a different broadcast. One thing we know for sure the IMF and worldbank will not support a lop and it safe to reason the lifting of zeros is off the exchange rate as is confirmed again this time by a St. Johns Professor

Time for an earthquake Baby!


Translated version of http://www.alsharqiya.com/display.asp?fname=aboutus%5C2006%5C008.txt&storyti tle=


"· Report : Welcome again Dear viewers, Mr. Minister, the subject of recent talk is the value of the Iraqi dinar against the dollar. It seems that the state insists, or preserve the value of the Iraqi dinar 148 against the dollar but this offset by a significant increase in prices, spending and Asaaaralmwad food and fuel prices How can the government help the Iraqi citizens to these increases?
· Zubaidi on this subject : the two split the price and that the financial and talk about the monetary side. Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states.

· Report : say there's a statement to Mr. Jabr deleting 0 of currency? · Zubaidi : I stated that I suggest to my brother, Mr. Governor of the Central Bank which is responsible for monetary policy, Klin to have a delegation with me and Oil Minister and the Governor of the Central Bank met with the International Monetary In one of the meetings proposed to the governor to strengthen the Iraqi dinar is dear and decent Iraq as history, civilization, at least that was the Iraqi dinar equivalent of three dollars and little to equate dollars on the psychological Even when sorrow for one hundred dinars, you assume Bscheholh hundred dollars and not with a corresponding cent dollars today any bearing hundred and fifty thousand dinars, in addition to the strength of the economy and, of course, the governor has another view. Turkey rose six zeroes from its currency and many African States were also subjected Iraq to strong tremors. This aspect God we have great hope that working together, and suggested that the International Monetary Fund to strengthen the Iraqi dinar and we will discuss this subject either side of financial and price increase it is natural that all the things back and take photo, we can not sell oil or gasoline in Iraq three cents, and sold in neighboring countries Fifty cents is medicine be very aware that there smuggling of money for Iraq and its people, and must find a solution could not be found from whatever solutions police and the Customs and security can not, therefore you have to put fiscal policy to reach the price of gasoline, such as neighboring countries, if not more of them. "

Strike : the decision to lift the value of the Iraqi dinar has come as a result of studies value


Source : Zawra

07 / 01 / 07
He said the Finance Minister Baqir Jabr counterpart that the Iraqi dinar is a marked improvement over the current period.
He added that the strike caused fluctuations in the local market due to some rumors that arise for blocking this improvement.
Pointing out that the Iraqi Central Bank's decision to raise the value of the Iraqi dinar against the foreign currencies is a correct decision and the result of studies aimed to raise the value of a reduction in the purchasing power of the Iraqi people before everything else.
He pointed out that the plans of the ministry absorbed all future programs in the budget for this year in order to stimulate the Iraqi economy properly.

On the other hand, Minister of Electricity Karim Wahid said that his ministry would be able to meet the requirements of Iraq from power mid-2009.
He held in a press statement former ministers responsible for the scarcity of energy because of a lack of seriousness in dealing with the deterioration in this vital sector.
His single "that the ministry was suffering from a lack of sufficient sums to the implementation of new projects in addition to the completion of the suspended contracts as well as the lack of spare storage in the ministry.
He pointed out that the real obstacle faced by the ministry at the present time is to provide security and the cooperation of other ministries such as the Interior and Defense to provide protection for the power transmission lines between governorates.

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