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

what's this about a time limit on larger notes?

so are we still seeing a light at the end?

Adster,

Sorry we're not Faceman or BA. Just a quiet family of 4 and our surname starts with an "A", that's where our username came from.

Blessings,

a-team

Originally Posted by DLMCFX

Look at both of this!

United States Dollar vs New Iraqi Dinar prices.
http://www.advfn.com/p.php?pid=qkquo...ol=FX%3AUSDIQN

United States Dollar vs Iraq Dinar Spot prices.
http://www.advfn.com/p.php?pid=qkquo...eportbug_desc=

What does this mean?

Originally Posted by aeara

what's this about a time limit on larger notes?

so are we still seeing a light at the end?

Not to worry,

The phase out of larger notes will not impact the value or exchange, and as far as time limits, there will be none, so it is a mute point. This is no different than when US $100,000. notes were phased out, as in not printed or distributed any longer, yet if you are lucky enough to have one, it is worth a minimum of face value, and is backed by gold, so it is the only U.S. note worth more than the paper it is printed on. LOL

Good luck to all, Mike

Originally Posted by kevinsw

Why do I feel like buying more Iraq Dinar?

I just don't want a time limit on when we have to cash out to smaller denominations, I like the big bills.

Welcome to Dinarholics Anonymous, (g)

Not to worry about larger denomination notes, they will be phased out, but not forced to exchange, so hold onto them.

Good luck to all, Mike

Originally Posted by cigarman

This might help a big reval

All eyes look to the Kurdish region and its oil riches
By Carl Mortished, International Business Editor



NORTHEAST of Baghdad, a steady stream of foreign investors is already heading for Arbil to pay tribute at the headquarters of Kurdistan’s regional government (KRG).
They are attracted by the promise of oil in a region relatively free of violence and the KRG is obliging, awarding licences to several exploration groups, including Western Oil Sands, a Canadian company, and DNO, of Norway.



Last month, the Norwegians claimed the discovery of 100 million barrels after testing their first well in an area close to the border with Turkey.

The news created a storm in Baghdad, where resentment is growing at the Kurdish authority’s decision to award licences independently of the Oil Ministry in the Iraqi capital. Hussein al-Shahristani, the Oil Minister, insisted that only his ministry could hand exploration rights, while Sunni opponents of independent-minded Kurds called for amendments to Iraq’s new federal constitution, which gives extensive but sometimes contradictory rights to both regional and federal authorities over the nation’s hydrocarbons.

The KRG rejected the Baghdad interpretation and insisted that regional governments had jurisdiction over undeveloped oilfields.

The DNO discovery has encouraged many who believe that the geological trend that made the massive and ageing Kirkuk oifield extends to the north and east. It would suggest that Iraq’s oil reserves may be much greater than current estimates and it would, in turn, give a huge economic boost to the Kurdish region.

That creates a political challenge for the KRG and a huge headache for the central Government in Baghdad. Few doubt that the ultimate goal of the Kurds is independence from their Sunni and Shia countrymen, but for the time being the KRG is happy to engage in the federal process and take advantage of American financial aid. As the prospect of oil revenues draws nearer, calls for greater independence may increase.

http://business.timesonline.co.uk/ar...270661,00.html

BINGO,

Good find, and this is exactly what I have been saying since my contacts are in Kurdistan, and they are so much farther along than Baghdad that it is hard to believe they are part of Iraq. In fact, if they have their way, they will break away, which would suit me just fine as this is the region I am investing in for this reason.

We all know about the sectarian violence which has been going on since the beginning of time, and this will never change, so to think it will is nieve. Democracy aside, it is no different now than when Saddam was in power, the only difference is that different groups are doing the killing now. Sick as this is to most, this is just normal life among the death, with hardly a hiccup in economy, and this will not change.

The Kurdish region will start the ball rolling ahead of Baghdad, and this is good news for us all as it forces a revalue for Iraq sooner than we had ever imagined a few months ago. With the now disclosed new oil reserves being reported, and this is only scrathing the surface, the Kurdish region will be the model of prosperity for all others to follow, so the sooner the reval is made, the better off all of Iraq will be.

Good luck to all, Mike

Originally Posted by neno

Already have. Most viewed. It is in the pips section at 135,000 + The Iraqi dinar thread is at about 113,000 closing in.

Interesting,

Think we will hit 200,000 by the end of the month? Dinarholics Anonymous here we come. LOL

Good luck to all, Mike

The country must get to grips with security if it is to move forward economically, a senior minister tells our correspondent
HIS workers get kidnapped. His factories and offices are under attack. Yet, Iraq’s Industry Minister, Fawzi Hariri, says he is optimistic about the future.

“If for one minute I felt I was fighting a losing battle, I wouldn’t be here,” Mr Hariri told The Times from his ministry, a week after men dressed in Iraqi security uniforms tried to storm the compound and grab a Sunni official.

The minister, an Assyrian Christian from the Kurdistan Alliance, is betting that Iraq can revive its moribund economy in the next few years. He is pinning his hopes on a foreign investment law that could be passed as soon as September.

The legislation, first proposed under the US occupation by Iraq’s interim governing council in 2003, would allow full foreign ownership in the private sector and investment of up to 45 per cent in state-owned companies.

The Oil Ministry is also hoping to pass a hydrocarbon investment law this year to encourage major energy conglomerates to come to Iraq. Until now, no big energy group has set up shop. Mr Hariri says a major hurdle is convincing Iraqis that they will benefit from direct foreign investment and ownership. “We need to prove that the investment law . . . is good for the country.”

The Industry Ministry counts 65 state-owned companies and 200 factories — in petrochemicals, agriculture, pharmaceuticals, electrical parts, food, textiles and steel.

“If we get the right investment — we’re talking about $1 billion [£545 million] — we can rehabilitate these government factories to produce up to 20 per cent of our GDP,” Mr Hariri predicted.

Once the investment law is approved, Mr Hariri plans to move quickly to set up joint ventures with foreign firms. A long-term goal is to sell off many of Iraq’s publicly owned companies — an idea first proposed in 2003. “We’ll have to go down that road in phases,” he said.

Mr Hariri suggested that the ministry could push for a law authorising the selling off of state industries two or three years after the first joint ventures have been set up and Iraqis have been given the chance to see the benefits of privatisation. He laments the collapse of Iraq’s once lucrative state industries. Today, the country imports products that it can produce on its own, such as fuel and cement. It is a far cry from the times when Iraq exported goods around the Middle East and Asia. But Iraqi industry has withered from years of trade sanctions, governmental neglect and war.

Even where factories are in one piece, they suffer from fuel and electricity shortages. Most factories receive about 20 per cent of their daily power requirements. “We can’t provide jobs on any given day.” Mr Hariri is certain that, once the ministry’s factories are renovated, they will create new jobs.

The ministry and its companies employ 160,000 people, but many of them are paid not to work owing to the industrial sector’s low production. For instance, Iraq’s cement plants currently produce less than 2.5 million tonnes per day, compared with their capacity of 10 million tonnes.

But all of Mr Hariri’s plans are tied to security. On June 22, 34 Shia workers from the Nasr cement factory in Taji, 35 kilometres north of Baghdad, were kidnapped as they left work. Gunmen hijacked the minibuses that were taking the labourers back to their homes in eastern Baghdad. Another 30 workers managed to escape. So far 11 bodies have been recovered from the river Tigris. Now only 60 of the plant’s 1,500 employees are showing up for work.

But Mr Hariri was encouraged by those who survived the ordeal. “I met 20 of those who managed to escape. They expressed a determination to work. We need a break in the security situation. Once we get that break, we will be able to move forward. We won’t look back.”

http://business.timesonline.co.uk/ar...270660,00.html

The other day someone told me they couldn't reval this soon BECAUSE IRAQ DOESN"T EVEN HAVE POWER FOR 24 HOURS YET, AT MOST THEY HAVE POWER FOR 6 To 8 HOURS, EXCEPT BAGDAD. Well, I did some research and even during Sadams days, Bagdad was the only place that had 16 to 24 hrs of power, the rest had 6 to 8 hours. The US has already started building power plants that will supply power to most iraqi's for 18 to 24 hours by the end of the year. So, my response to this guy was do some research!! I still believe that we're close and the oil supply is BIGGER than everyone thought. Look for the Dinar to be at or above Kawait before the GCC takes effect in 2010. Just my thoughts.

Hey guys, looks like their moving fast FINALLY. Read interview.

Industry minister expects investment law within October

http://www.iraqdirectory.com/DisplayNews.aspx?id=1689


PS- I'm still trying to figure out how many investment laws their talking about.