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

////////

Originally Posted by Raditz

Investment Law Early August

Noozz Editorial Jul 4 2006
During a meeting with Saudi investors, Iraq Prime Minister Nuri al-Maliki revealed plans to issue the new Foreign Investment Law early next August, pan Arab daily Asharq al-Awsat reported. Al-Maliki stressed the regime is keen on guaranteeing all rights for foreign investors and said investors will be allowed to transfer funds outside of Iraq in their preferred currency. He added the government will start endorsing the law next Thursday after discussing it at the Ministers’ Council which will in turn transfer it to the State Affairs. According to the Prime Minister the law will protect foreign and local capital and will give foreigners all rights enjoyed by Iraqi nationalsin addition to exempting equipment imported by investors from taxes. The state is keen not to issue another investment law based on confiscation at end of [project] durations by any government that comes to power, he said. As such, investors should not worry about capital invested in the country.

"As such, investors should not worry about capital invested in the country."

I would think that if anything less than an actual RV was going to take place that there would be cause for worry. Iraq can't very well open up to FI at the exchange rate the dinar is at now, the would be owned in no time flat. This looks good to me.

Hi everyone, I just found out about the accident in Valencia. I am watching CNN and haven't seen it yet. I will give a big sigh of relief when I see him post. In the mean time fingers and toes crossed and prayer said. Janet

Originally Posted by Raditz
I found this on cnn; Sanchez said that British and Romanian consular officials had arrived to help in the identification process, but there was no confirmation so far of any foreign nationals dead in the accident.

Im sure he is okay!

Thanks Raditz, That is wonderful. Now we can move forward with ease. I knew this would help by everyone knowing so we could be watching.

Originally Posted by nej

The newspaper said this morning there were no reports of any British people on the train

Good report. See this all is getting better ands better.

Originally Posted by tiffany

I hope you're right Raddie! I was just SICK when I PM'ed Neno. I didn't know if the subway is the 'main' form of transportation in Spain...like in NYC people mostly use the subway or taxi's. Neno didn't think that Adam would be on a Subway so that made me feel better.

And this should make you feel even better Tiff. It was on of the main reason for the posting. To let everyone know. I figured some would know even more about Adam to elemenate them from the accident. I realize how emotional you are when it comes to Adster's and Mike's posting. You should fell very better now. Adam will be greatful and would like it to still peg for us all very soon know. This way when we all do get to be at the peg party, it will have another meaning as well. Ok tiff you feel better.

Originally Posted by flygirl1

If this thing pegs at 1:1 I may go out and streak through my neighborhood! They would probably call the cops! I can't wait! As Bigopie would say Let it Peg! Let it Peg! Let it Peg!

Funny,

Where do you live again? LOL

Happy 4th, Mike

Originally Posted by robmccallum01

I came across the following article. I think it's good news??? Perhaps Mike, Adam(if he's back yet, or anyone else) can dechiper this article for me lol.



I don't recall ever seeing this article posted in here but if it has then I apologize in advance for reposting old news lol. I don't have access to that website where it came from so I couldn't see the 'date' of the article.

Adam, I hope that you and your family made it back home safely or are on your way home safely now!

Cheers all,

Rob

Thanks Rob,

It looks like I can retire now that we have so many astute researchers up to speed posting all the latest news. (g) Seriously, this is a great compilation of what is going on behind the scenes. As I mentioned earlier, everything came together a couple weeks ago, but now it is a time of testing the reactions of all involved to see if any objections arise. It is purely a time of reserve, they have decided to revalue, this we now see, but as we have also seen, the amount of revalue is being tested on public.

No matter what, we now see quite clearly that it WILL happen, and lets face it, this was all we really wanted to hear after all this time and period of debate. It WILL happen, thank God for all of us who have hung in there with this one. (g) We have seen articles mentioning the return of value to post war rates over $3.00 to dinar, so you can see this is a goal of current government. Then we see where concerns are raised that reserves are not yet adequate to support $3.00 plus, but think about it, they are now openly releasing this information to the public and the world to test the reactions. If they see no negative concerns, it will happen sooner or later, and that is what we want to hear.

Remember, we are all in unchartered territory with regards to Iraq and what reserves would be acceptable to the world markets. This is not going to impact the Iraqi citizens as much as it will the international investors and neighboring countries. Prices will be adjusted internally, while those businesses who need to trade with other countries will see the most benefits, along with us of course. (g) Reading all these articles leads us in only one direction, there WILL be a revalue, and SOON. The best I can offer is the same ole same ole, .30 to .40 to start, but having seen no real objections to the talk about $1.00 to dinar, we are starting to see why I recommend hanging onto your dinar for at least a month beyond initial revalue is made, as my contacts are calling for a quick rise which will further demonstrate the stability of dinar, an essential point which we want to all see on an open market basis, not based on peg.

Again, we are all seeing just how unique this situation is and this is why it is now taking a little longer than we had hoped. All the pieces are in place, this we know, and now the final piece is in the open, the fact it is being leaked to press and openly being discussed. This is all good news for everyone, and I have never felt more confident in dinar. It is stable, and has been since 2003, in fact, rising in value on its own even during the worst period of terrorism. This was the first good indicator, and now that we are at the point in time revalue is set, we see no resistance to talk of $1.00 or more. Out of all the articles, the worst was a little concern over being able to back it at these higher rates, but no one was outright critical of potential, and this too was a good sign.

I know it is a holiday for some of us, but I am a dinarholic like all here, and just could not resist taking a look at todays posts. All good news is sure comforting, and with so many pulling articles up now, we truly do have a great bunch of likeminded people here, and this is the best part of all. I can't wait to be celebrate with each and everyone here, even loopster, which I kind of miss. LOL

Happy 4th, Mike

Adoption of electronic trading project in Baghdad Stock Exchange
04/07/2006
Source: Dar Al-Hayat

The Executive Director of Iraqi Stock Exchange Taha Ahmad Abid Al-Salam is optimistic about future of the financial market despite the deteriorating security in Iraq, pointing to positive developments, like registration the Stock Exchange late last year in the European-Asian Union stock, headquartered in Turkey, and as a member in Arab stock Union, headquartered in Kuwait.

He expected that Major Iraqi investors in Arab bourses, especially in Gulf countries, will sell a portion of their investments and invest in Iraqi Stock Exchange market when observing signs of positive change in Iraq. The same is true for the Arab investors, "especially after the issuance of a legislation that enables them to invest", He pointed out that prices of shares on Iraqi Stock Exchange is much lower than other markets, which is the most appropriate investment opportunities for non-Iraqis.

Regarding stock exchange electronic trading, he said that they have plans related to trading, cooperation and openness to the world. He pointed out that a committee from the Board of Market Governors Bourses visited Dubai and Bahrain and submitted a report to the Council about market needs of electronic transactions and deposit center systems. He added that the Swedish company "OMX" was chosen to apply and update these systems for five years starting from the date of application and operation.

And Abid Al-Salam expected that the application of electronic trading will improve performance of stock exchange dramatically and qualitatively. He said : "We are currently holding two sessions a week for two hours each, but with the help of electronic trading we'll have two sessions a day : morning, evening sessions, so ten sessions per week. Then the buyer can buy in morning session and sell in the evening or vice versa. And electronic trading will also enable us to be connected electronically with three banks to enable investors to obtain financial clearance after the sale.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1611

Hey Mike, do you have any juicy gossip or news for us??? I just don't think that I can wait until the end of July LOL. You're still hearing around by end of July aren't you? I thought I read somewhere though that the ISX has until October to open up to the world? If this is the case, then Iraq could take until that time to reval couldn't they? Please don't quote me but I thought that's what I read about October? Can someone verify this for me please?

Well it's off to the sh***y job in retail now lol. To make things worse, my boss offered me an assistant department manager position at the grocery store I work at. I sure hope our dinars peg S**N so I don't have to resort to being a**man for too long . (how many of you actually like their jobs? probably not very many eh?)

Cheers all,

Rob

Thanks Rob,

It looks like I can retire now that we have so many astute researchers up to speed posting all the latest news. (g) Seriously, this is a great compilation of what is going on behind the scenes. As I mentioned earlier, everything came together a couple weeks ago, but now it is a time of testing the reactions of all involved to see if any objections arise. It is purely a time of reserve, they have decided to revalue, this we now see, but as we have also seen, the amount of revalue is being tested on public.

No matter what, we now see quite clearly that it WILL happen, and lets face it, this was all we really wanted to hear after all this time and period of debate. It WILL happen, thank God for all of us who have hung in there with this one. (g) We have seen articles mentioning the return of value to post war rates over $3.00 to dinar, so you can see this is a goal of current government. Then we see where concerns are raised that reserves are not yet adequate to support $3.00 plus, but think about it, they are now openly releasing this information to the public and the world to test the reactions. If they see no negative concerns, it will happen sooner or later, and that is what we want to hear.

Remember, we are all in unchartered territory with regards to Iraq and what reserves would be acceptable to the world markets. This is not going to impact the Iraqi citizens as much as it will the international investors and neighboring countries. Prices will be adjusted internally, while those businesses who need to trade with other countries will see the most benefits, along with us of course. (g) Reading all these articles leads us in only one direction, there WILL be a revalue, and SOON. The best I can offer is the same ole same ole, .30 to .40 to start, but having seen no real objections to the talk about $1.00 to dinar, we are starting to see why I recommend hanging onto your dinar for at least a month beyond initial revalue is made, as my contacts are calling for a quick rise which will further demonstrate the stability of dinar, an essential point which we want to all see on an open market basis, not based on peg.

Again, we are all seeing just how unique this situation is and this is why it is now taking a little longer than we had hoped. All the pieces are in place, this we know, and now the final piece is in the open, the fact it is being leaked to press and openly being discussed. This is all good news for everyone, and I have never felt more confident in dinar. It is stable, and has been since 2003, in fact, rising in value on its own even during the worst period of terrorism. This was the first good indicator, and now that we are at the point in time revalue is set, we see no resistance to talk of $1.00 or more. Out of all the articles, the worst was a little concern over being able to back it at these higher rates, but no one was outright critical of potential, and this too was a good sign.

I know it is a holiday for some of us, but I am a dinarholic like all here, and just could not resist taking a look at todays posts. All good news is sure comforting, and with so many pulling articles up now, we truly do have a great bunch of likeminded people here, and this is the best part of all. I can't wait to be celebrate with each and everyone here, even loopster, which I kind of miss. LOL

Happy 4th, Mike

EXCELLENT Post Mike, thanks!!! You and Adam always somehow make us feel more at ease with this investment. I must say that I cannot wait for it to revel so that we can all embark on our next investment with the Iraqi Investment Club! Thanks all, and Cheers

Rob

Press Release

Tuesday July 4, 2006

MINISTRY OF OIL SUPPLIES IMPORTED FUEL

The Ministry of Oil launches supplying citizens with imported fuel (Octane 92%) at (ID350) per 1 liter since 1st July. An authorized official in MoO said, the ministry specified four major supplying fuel filling stations in Baghdad: Gailany and Hurriya stations at Rasafa side, Seidiya and Mansour stations at Kharkh. Additionally for the same purpose, specifying one station in each province.The official assured that other fuel stations in Baghdad and provinces continue supplying people with the (Supper) fuel according to the official price (ID250) and the (Normal) fuel at (ID165). Moreover, he added that the ministry obliged fuel filling stations to hang signboard clarify the fuel price/per liter for all fuel kinds.

http://www.iraqigovernment.org/index_en_new1.htm