Thread: My Aussie Ceo

Originally Posted by postcon

Didn't someone post a while ago contradicting what the CEO was saying about the dinar price not being listed in the contracts? How come none have picked up on it?

NOW THAT I AM BACK - I WILL BE REPLY TO THE POST!!!!
DON'T WORRY - I HAVE NOT FOGOTTEN IT!!!

Welcome back CK,

Always nice to see the forum get back to abnormal. (g) JOKE......JOKE. LOL As you can see, there are all types of people here with all types of personalities, some dry humor, some a little more outrageous than others, so take it all a little less serious and we can all get along just fine regardless of who posts what. Nice to see you back as you are a welcome breath of positive posting.

Good luck to all, Mike

Welcome back home, MrsCK!

Antje

Welcome back MrsCK. Did you mention that you will be updating your post? Looking forward to it. Things seem to be lining up for Iraq, all laws passed soon and the fact that they will be part of the WTO by the end of Feb. As we all know, part of being in the WTO is that your money must be fully tradeable. Lets see how long Iraq can hold onto the dinar now with this news at the current rate. I would think that there will be much more demand for it now. JMO.

Again...good to have you back Chris.

Originally Posted by postcon

Didn't someone post a while ago contradicting what the CEO was saying about the dinar price not being listed in the contracts? How come none have picked up on it?

Originally Posted by Cdn Scrooge

I saw that too, but the person also stated that they didn't know details of the contracts and didn't want to ask for reasons stated. Perhaps these are more recent contracts than the one the aussie CEO was involved with and possibly (please note I said possibly) these other contracts have a "currency clause" in them whereas the older contracts didn't. I cannot imagine any contracts being signed these days by Iraqi officials without a currency clause if the amount is expressed in dinars due to the simple fact of the CBI's actions. The dinar has changed by 12% (approx) in the last 3 months. And there have been numerous articles stating the infamous 1260 rate and a change to 1000. However, before the CBI started to adjust the rate it was pretty stable for quite a long time and in those days the need for a currency clause was probably considered unnecessary.

And perhaps the aussie's contract was drawn up anticipating a reval (as Mrs CK indicated he had said) which didn't happen and needs to be re-calculated whereas if the newer contracts simply have a currency clause there would be no reason to re-calculate and re-issue the contracts.

Just my thoughts.

Dang I guess I type too slow. lol After I got finished typing this and posting it I see Terry Tate beat me to it.

CDN - I JUST COULDN'T HAVE SAID IT BETTER!!! NOW I COULD NOT FIND THE POST - AND I REALLY DON'T HAVE TIME TO DIG FOR IT - BUT I DON'T KNOW ABOUT OTHER COMPANIES CONTRACT HOW THEY ARE SET UP, ETC. PLUS EACH CONTRACT WILL BE SET UP TO THE WORK THAT IS BEING DONE. A CONTRACT FOR BUILDING A ORANGES MAYBE DIFFERENT THEN APPLES. THE CEO CONTRACTS I CAN SAY IS FOR TELECOMMUNICATION. I CAN ONLY TELL YOU HOW HIS ARE SET UP - NOT ANOTHER COMPANY.

BUT ONE THING THAT WE HAVE TALKED ABOUT HIS CONTRACTS DO STATE HE HAS TO HIRE IRAQI'S. SO HE HAS A CREW OF 12 GOING TO IRAQ. THE REST OF THE EMPLOYEE'S WILL BE HIRED IN IRAQ. ONE THING THAT HAS REALLY BUGGED HIM IS THE WAGES WHICH IS ONE REASON HE IS GLAD HIS CONTRACTS HAVE BEEN DELAYED. HE HAS A BIG HEART AND HATES THAT MOST IRAQI'S GET $7 BUCKS A WEEK.

THANKS AGAIN CDN !!!!!!!!!!!!!!!!!YOU JUST SAVED MY TAIL A LOT OF TYPING

Originally Posted by MrsCK

CDN - I JUST COULDN'T HAVE SAID IT BETTER!!! NOW I COULD NOT FIND THE POST - AND I REALLY DON'T HAVE TIME TO DIG FOR IT - BUT I DON'T KNOW ABOUT OTHER COMPANIES CONTRACT HOW THEY ARE SET UP, ETC. PLUS EACH CONTRACT WILL BE SET UP TO THE WORK THAT IS BEING DONE. A CONTRACT FOR BUILDING A ORANGES MAYBE DIFFERENT THEN APPLES. THE CEO CONTRACTS I CAN SAY IS FOR TELECOMMUNICATION. I CAN ONLY TELL YOU HOW HIS ARE SET UP - NOT ANOTHER COMPANY.

BUT ONE THING THAT WE HAVE TALKED ABOUT HIS CONTRACTS DO STATE HE HAS TO HIRE IRAQI'S. SO HE HAS A CREW OF 12 GOING TO IRAQ. THE REST OF THE EMPLOYEE'S WILL BE HIRED IN IRAQ. ONE THING THAT HAS REALLY BUGGED HIM IS THE WAGES WHICH IS ONE REASON HE IS GLAD HIS CONTRACTS HAVE BEEN DELAYED. HE HAS A BIG HEART AND HATES THAT MOST IRAQI'S GET $7 BUCKS A WEEK.

THANKS AGAIN CDN !!!!!!!!!!!!!!!!!YOU JUST SAVED MY TAIL A LOT OF TYPING

I believe that the FIL has a part that states Iraq will give Tax breaks to companies who have a certain % of Iraqi citizens working for them.

EACH QUOTE IS FROM NEWS IN THE LAST TWO DAYS BY BRINGING THEM TOGETHER WE CAN SEE A BETTER PICTURE OF WHAT IS TO COME.
LETS START WITH THE CBI:
"The Iraqi Central Bank made buying and selling rates for the dollar on Thursday, February 1, 2007 until the end of office hours on Sunday, which falls on February 4, 2007 and pledged to meet the demand for foreign currency without limit and regardless of the quantities required and all its customers."
FOR THIS WEEK AND ANOTHER TIME IN JANUARY CBI PUT THE "BRAKES" THIS LAST TIME AROUND 1290. NOW ALL THE NEWS CLIPS ABOUT THE BUDGET SAY 1260. WHY NOT CONTINUE AUCTIONS DOWN TO 1260?

"In regard to the new policy pursued by the Central Bank of Iraq and to raise the value of the Iraqi dinar through the opening of the auction's daily buying and selling of foreign currencies minister explained that this policy aimed to raise the value of the Iraqi dinar against other currencies, especially the dollar through a fixed exchange rate of exchange and the value of '1260' dinars to the dollar with a financial policy for the Iraqi dinar to normal, pointing out that the House did not approve a plan of implementation so far" NOT BEEN APPROVED??? HMMM IT'S IN THE BUDGET - RV IS IN THAT ONE LITTLE PARAGRAPH IN THE BUDGET.

Arabic side of CBI for thursday:
1. Note that : * the sale price of remittances dinars (1288) / $. Sale price * cash (1301) dinars / $.
2. The quantity sold, the amount of cash (28.540.000) $ and the amount of remittances (57.950.000) dollars.

Newspaper and ENGLISH side THURSDAY of CBI:
The exchange rate was stable at 1292 dinars per dollar from last Thursday but it was lower to 1290 in today's session.
The demand for dollar was slightly lower on Thursday, the last trading session this week, reaching $86.490 million compared to $92.165 million on Wednesday in Iraq’s central bank daily auction.
NOW WHY DOES THE ARABIC SIDE AND THE ENGLISH SIDE DON'T MATCH??? DOES THIS MAYBE SHOW TWO SETS OF BOOKS?? ANY THOUGHTS ON THIS ONE?

Originally Posted by jedi17

Welcome back MrsCK. Did you mention that you will be updating your post? Looking forward to it. Things seem to be lining up for Iraq, all laws passed soon and the fact that they will be part of the WTO by the end of Feb. As we all know, part of being in the WTO is that your money must be fully tradeable. Lets see how long Iraq can hold onto the dinar now with this news at the current rate. I would think that there will be much more demand for it now. JMO.

Again...good to have you back Chris.

With respect, why is it necessary to have a fully tradeable currency? Vietnam is a fully fledged member of the WTO and their currency is in a much worse shape than the Iraqi dinar and is not fully tradeable. Can one of the RC detectives explain this please? (and YES, it is good to have you back MrsCK).

MrsCK
Just thought I would give you an update on the euro/dollar. Todays closing price which on the forex exchange is closed till Sunday PM. was 1.2964.
The 20 Simple Moveing Average(known as SMA) was 1.2960. Thanks for all you do.
Dave

WTO STUDY:
The United States Agency for International Development in cooperation with the Chamber of Commerce and Industry and sponsored by the Iraqi American company Microsoft world today, Thursday, in the Jordanian capital of Amman for the first preparatory conference in 2007, which examines the creation of conditions for Iraq to join the World Trade Organization..... the meeting focused on the issue of investment in Iraq passed by the parliament during the presentation of the Iraqi new investment opportunities and join Iraq WTO member after it holds observer status in the WTO......the conference was held attended by representatives of the Ministry of Trade and Foreign Affairs to the Iraqi companies and foreign investors. OK WE DO KNOW BILL GATES WAS AT THE WORLD ECONOMIC FORUM LAST WEEK SO HE WAS IN THE AREA. 'investment in iraq passed by the parliament" THAT'S THE FIL!!! AND THEY DID PRESENTATION ON IT. THEY HAVE BEEN IN OBSERVER STATUS SINCE FEB. 06

Held by the U.S. Agency for International Development (USAID) in tandem with the Iraqi-U.S. Chamber of Commerce and Industry, under the aegis of Microsoft, the 1st preparatory conference on Iraq's accession to WTO focused on the issue of investment in Iraq, which was approved by the Iraqi parliament. "The meeting reviewed new investment opportunities and Iraq's accession to the WTO as member, not as an observer as is the case now," Greg Howell, Global Development Alliance Advisor USAID/Iraq, told the independent news agency Voices of Iraq (VOI).
Howell said "by the end of February Iraq will attend its first session with the WTO," noting he had met several times with Iraqi officials and ministers concerned, which is part of the USAID's activities."He pointed out that the USAID's objectives through working with the Iraqi government envisage increasing the number of investment companies, creating jobs for unemployed Iraqis, laying the foundations for an investment climate that would benefit the Iraqi government and making it easy for international companies to come to Iraq. BINGO ANOTHER FIL HAS BEEN PASSED. BY THE END OF FEBRUARY WILL ATTEND IT'S FIRST SESSION WITH THE WTO? BINGO I THINK WE NEED TO WATCH THIS MONTH - IRAQ BECOME A FULL MEMBER!! HISTORY HERE AND WE ARE WATCHING. THE ONLY WAY TO LAY THAT FOUNDATION IS HAVE ALL LAWS PASSED AND BUDGET TOO THAT HAS THE RV IN IT

Head of the International Organizations at the Ministry abroad Yeh today, Friday, that Iraq is now holding several Ajtm lighters preliminary meeting of the World Trade Organization during the month of February to discuss the controls traders Yeh prelude to joining it."He added : "From this standpoint, there are procedures and controls imposed a World Trade Organization to belong to it but a for a brief time factor it holds observer status only n in the organization. "He pointed out that "the permanent membership in the Organization T. many of the questions to the Iraqi government inquiring in Ha on some articles in the document have been answered. I DO BELIEVE THEY ARE REALLLLLY DOING A FAST FORWARD TO THE END OF THE MONTH. THE QUESTIONAIRE WENT OUT IN 2006 AND THE WTO IS HAPPY WITH THE ANSWERS SO FAST FORWARD.