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

The decision to lift the value of the Iraqi dinar has come as a result of studies val
The decision to lift the value of the Iraqi dinar has come as a result of studies value



He said the Finance Minister Baqir Jabr counterpart that the Iraqi dinar is Mlhoudha improvement during 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

http://64.233.179.104/translate_c?h...asp%3FID%3D2819

You may be getting email set up to auto-respond. Try sending another email and see what ya get.

JK

Originally Posted by Seaview

They are definitely working late tonight. I just posted in the rumour section that I also received an email from Mr I at 01:15 am Baghdad time.

Originally Posted by H2O_Lover
well if i had asked for a rate that would be one thing but i asked for an blance in my account. A dinar is a dinar in iraq. I was wanting to see if my intrest had been added as i was going to put it into stock. what i found was odd was this statement

"we are currently finalizing our working procedures "

are they working on something New ?? and to be working at 1:00 am in the morning seems odd. Maybe need to be meeting a dead line ?????

Sotaliraq.com

The extension of basket kerosene

(Voice of Iraq) - 08-01-2007
This issue was sent to a friend

Baghdad-Muhammad Hamid
The Ministry of Oil has decided to extend the distribution of oil products basket until the 15th of this month. A source in the ministry told (time) yesterday that the (ministry decided to extend the Balcabonat oil, which was distributed last year until the middle of this month), adding that the (extension was pending completion of printing Coupons for 2007 by the General Company for the distribution of oil derivatives). Explaining (that quotas will continue according to the available product), noting that the (ministry was seeking to provide the greatest degree of oil derivatives to be distributed to citizens to meet their needs, especially in winter). The Ministry's decision comes after numerous appeals by citizens adopting the ration card alternative to the oil coupons completed by the end of December last.

Iraq could open oil reserves to foreign firms

Sun Jan 7, 11:02 AM ET

LONDON (AFP) -
Iraq is preparing to allow foreign companies to exploit its oil reserves, according to a British newspaper report that cited a draft law expected to come before the Iraqi parliament.
ADVERTISEMENT

The Independent on Sunday report says the US government has been involved in drawing up the law through a consultancy firm.

The early draft, circulated in English to oil companies in July 2006 and leaked to the newspaper, would offer oil companies vastly better terms than the industry norm for investing in the war-torn country.

The production-sharing agreements (PSAs) would allow oil giants to sign 30-year contracts for extracting Iraqi oil.

Under PSAs, the state retains legal ownership of its oil but gives a share of the profits to companies that invest in infrastructure and in operating the wells, pipelines and refineries.

The Independent on Sunday said that under the draft law, oil companies could recoup 60 to 70 percent of revenue until initial costs had been recovered, which compares to around 40 percent usually, the newspaper said.

Following that, oil firms could be allowed to keep up to 20 percent of profits, rather than the more usual 10 percent, the weekly said, citing experts.

Experts said that oil giants would not descend immediately on Iraq, preferring to wait for the country to regain some level of stability, while only small, maverick producers would risk activity there in the short term.

The draft law would allow for the first foreign exploitation of Iraqi oil reserves since the industry was nationalised in 1972.

The introduction of PSAs would also be a first in the Middle East.

Oil accounts for 95 percent of the Iraqi economy, the newspaper said.

Iraq's oil reserves, estimated at 115 billion barrels, are the third largest in the world, behind Saudi Arabia and
Iran, which both tightly control their industries through state-owned companies, it added.

Since the US-led invasion of Iraq in March 2003, Iraqi production has tumbled from 3.5 million barrels per day to two million nowadays.

The United States and its allies have consistently denied accusations that the war in Iraq was fought to secure oil supplies.

I have alot of this mornings posts because I sent them to a friend on vacation..I have been gone for the past 3 hours thinking alot of it would be reposted.. so I see people are saying articles are disappearing or being changed.. so I'll re-post what I have as I thought it was a exciting morning and sorry it was lost.. I may not have the original poster tho.. sorry :)
here goes ..ez :)

Makeya : Maliki offer to resign from office before the result of the pressures exerted against him

Mazen Makeya said the Secretary-General of the Organization advocates that the Prime Minister Nuri al-Maliki presented resign from his post before the result of the pressures exerted against him. The Makeya said in an interview that the pressures began to Maliki since the last meeting in Amman with President George Bush in addition to the repercussions of the execution of former Iraqi president Saddam Hussein and the diversion of film penalty. The Makeya that the new U.S. strategy is aimed to put pressure on Maliki to implement some of the difficult steps, and pointed out that Al-Malki the end of his presidency ahead of schedule for these reasons.

وكالة انباء النجف

sorry if some of these have been re-posted.. :)

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



He said the Finance Minister Baqir Jabr counterpart that the Iraqi dinar is Mlhoudha improvement during 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

وکالة ال�رات العراقية للانباء

properly
________

Originally Posted by CharmedPiper

Sotaliraq.com

The extension of basket kerosene

(Voice of Iraq) - 08-01-2007
This issue was sent to a friend

Baghdad-Muhammad Hamid
The Ministry of Oil has decided to extend the distribution of oil products basket until the 15th of this month. A source in the ministry told (time) yesterday that the (ministry decided to extend the Balcabonat oil, which was distributed last year until the middle of this month), adding that the (extension was pending completion of printing Coupons for 2007 by the General Company for the distribution of oil derivatives). Explaining (that quotas will continue according to the available product), noting that the (ministry was seeking to provide the greatest degree of oil derivatives to be distributed to citizens to meet their needs, especially in winter). The Ministry's decision comes after numerous appeals by citizens adopting the ration card alternative to the oil coupons completed by the end of December last.

???EXTENSION WAS PENDING COMPLETION OF PRINTING COUPONS FOR 2007??? YEAH RIGHT!!! THEY ARE SOOOOO FULL OF COW PATTY ON THAT ONE!!. I FEEL THEY HAVE POSTPONED IT SO THAT COUPON WILL BE WORTH MORE THEN IT WOULD RIGHT NOW IF THEY HANDED IT OUT!!!!!!!!!! THERE ONCE AGAIN IS THAT DATE JAN. 15TH!!
HMMMMMMMMMMMMMMMMM

Iraq's oil reserves to be thrown open to the WestAdd to Clippings
[ 8 Jan, 2007 0232hrs ISTPTI ]
RSS Feeds| SMS NEWS to 8888 for latest updates

LONDON: Iraq's massive oil reserves, the third-largest in the world, are about to be thrown open for large-scale exploitation by Western oil companies under a controversial law to be shortly introduced before the Iraqi parliament.

According to a report in The Independent, the US government has been involved in drawing up the law.

It would give oil companies such as BP, Shell and Exxon 30-year contracts to extract Iraqi crude and allow the first large-scale operation of foreign oil interests in the country since the industry was nationalised in 1972, a media report on Sunday said.

The huge potential prizes for Western firms will give ammunition to critics who say the Iraq war was fought for oil.

They point to statements such as one from vice-president Dick Cheney, who said in 1999, while he was still chief executive of the oil services company Halliburton, that the world would need an additional 50 million barrels of oil a day by 2010.

Originally Posted by stargate-sg13

You may be getting email set up to auto-respond. Try sending another email and see what ya get.

JK

mine was not auto .....first i got the confirmation then a personal note back as he made mention of what i had wrote to him. No need to bother the man as i am sure his job is hard enough with out the likes of me pestering him

This was commented on by some of you... sorry I did not record names :)


Building on the policy of the Ministry of Finance : the exchange rate of the dinar

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

From other forum (also by good members from here):


Quote:
Building on the policy of the Ministry of Finance : the exchange rate of the dinar would arrive at 1260 per dollar
Mohsen Al-Gabri - 06 / 01 / 2007-17:07

According to relevant information markets currency and the Ministry of Finance that the final decision taken by the Ministry of Finance is planning firmly to communicate the value of the Iraqi dinar to 1260 dinars compared to the American dollar,

and the dinar rate of exchange has started improving and steadily since the beginning of the Minister of Finance of its new policy aimed to improve the currency exchange and reducing inflation rates in order to raise the zeros by increasing rents financial staff,

and the Iraqi dinar ranges purely between 1470 and 1480 before three months that began the path towards gradual decline.


Translated version of ..:: æßÇáÉ ÃäÈÜÜÜÜÜÜÜÜÜÜÜÜÜÜÜÇÁ ÈÑÇËÇ ::..

No reprint/No Lop, only way is that they raise to 1260 and then are going to improve the exchange rate big.
Here is also a description of other forum about this sentence.

Quote:

"I spoke to a friend who is a professor at St. John's University in Queens NY regarding the term raising the zero's, he said that what they mean by this is improving the rate in other words if it were to reach lets say 900 iqd=1 usd, then they just raised a zero, if they reach 90 iqd = 1 usd, then they raised 2 zero's and if the rate ever goes to 1 = 1, then they raised 3 zero's,"


It's all looking good.

This week will be very exciting!