Thread: Iraq/Dinar News. before Febuary 2nd 2006

If they can just hang on till Feb.10, they can wait another 30 days as that is the start of another 30 day vacation for the government officials.

Originally Posted by Jetsa

If they can just hang on till Feb.10, they can wait another 30 days as that is the start of another 30 day vacation for the government officials.

No wonder the average iraqi only makes about 300 bucks a year. They only work like 2 days a year.

Davos spurns glitz for new stars
POSTED: 9:16 a.m. EST, January 28, 2007
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DAVOS, Switzerland (AP) -- This year's gathering of the world's rich and powerful at the World Economic Forum produced fresh commitments to revive Israeli-Palestinian peace efforts, a glimmer of hope on liberalizing world trade, determination to combat global warming -- and emotional appeals at Sunday's closing session to help the world's neediest escape poverty.

The five-day political and economic brainstorming session was less glitzy this year -- no stars like Brad Pitt, Angelina Jolie, Sharon Stone or Richard Gere who have stolen the limelight in the past.

Instead, the forum returned to its roots of international problem-solving with 24 world leaders, over 800 top business leaders and dozens of social activists and academics discussing a host of issues from the conflict in Iraq and Iran's nuclear ambitions to the continuing rise of China and India as economic powers.

The new stars of Davos were the young entrepreneurs -- many whose fortunes have been made on the Internet and with new technology -- like YouTube co-founder Chad Hurley who announced that his wildly successful video site will start sharing revenue with its millions of users.

Hurley and Caterina Fake, founder of the Internet photo-sharing site Flikr, shared the stage with Microsoft founder Bill Gates, the world's richest man and now a Davos veteran. Google co-founders Sergey Brin and Larry Page were also hotly pursued for their views on the site's expansion.

The biggest political players at Davos were from the Middle East.

In emotional speeches at the forum, Israeli Foreign Minister Tzipi Livni and Palestinian President Mahmoud Abbas pledged to forge peace. After a meeting on the sidelines, Livni said they explored "any way to push the process," but she suggested the road to peace would be long.

Jordan's King Abdullah II told the forum that the need for progress was urgent because the Palestinian-Israeli standoff was a "firestarter" with vast potential to destabilize the region. "I believe that time is running out" to solve the crisis, he warned.

British Prime Minister Tony Blair backed Iraqi Prime Minister Nouri al-Maliki's government and U.S. President George W. Bush's immediate plans to increase troops there. Iraqi Vice President Adil Abdul-Mahdi said U.S. forces could turn events around -- but many others were highly skeptical.

Blair and U.S. Sen. John McCain, a possible Republican presidential candidate, were both optimistic about global action on climate change -- one of the hottest topics at Davos. McCain said he expects the new Democratic-controlled Congress to take action very soon "on this compelling issue."

On another hot issue, nearly 30 countries met on the sidelines of the forum Saturday to discuss the lack of progress in the World Trade Organization talks. They "expressed a strong wish for a quick resumption" of negotiations -- but stopped short of making improved offers to break a deadlock that has lasted for six months.

Nonetheless, WTO Director-General Pascal Lamy said there was new energy at the meeting and India's Commerce and Industry Minister Kamal Nath declared: "Despite the cold outside in Davos, we have been able to defreeze the talks that were frozen."

There were calls from Blair, musician Bono, South African President Thabo Mbeki and Liberian President Ellen Sirleaf Johnson to governments and companies to keep their promises of aid to Africa -- and redouble their efforts.

While one of the world's biggest problems -- the four-year-old conflict in Sudan's Darfur region -- wasn't on the Davos agenda, Blair and others raised it and said there must be action to end the violence that has claimed some 200,000 lives and forced 2.5 million people from their homes.

At Sunday's closing session which focused on the right of all inhabitants of planet Earth to live a dignified life, Norway's Crown Prince Haakonen spoke of visiting a poor township outside Durban, South Africa, and speaking to a couple who were both HIV positive and had three children and a disabled sister.

The prince, his voice breaking with emotion, said the man told him "`I'm very concerned. I know that my wife and I will not be here for long' -- and then, he looked me in the eye and said, `Please do everything you can to help people like me."'

"I think he said this to each and every one of us," the prince said to the several hundred-strong VIP audience, urging them to make dignity "the basic guiding principle of all actions."

The movers and shakers headed home with different highpoints from Davos.

"It's encouraging that some of the business leaders understand that if they want to go forward with globalization, they have to pay more attention to questions of equity and fairness," said U.S. congressman Barney Frank, a Massachusetts Democrat.

Kamel Lazaar, president and CEO of Saudi Arabia's Swicorp Investment Bank, said "the great thing about Davos is that in a few days you can do meetings that it takes 12 months to do -- and it saves you all the hassle of travel and organizing."

Psychologist and sex therapist Dagmar O'Connor said her sessions on self-esteem were oversubscribed.

"In Davos, psychologically, relationship-wise, same problems as everywhere else in the world -- but they're under more stress," she said.

Copyright 2007 The Associated Press. All rights reserved.
Davos spurns glitz for new stars - CNN.com

Originally Posted by shotgunsusie

of course, as any budget should have the correct value of the corresponding currency for it to be legitimate. now the cabinet are the ones who passed it and it went on to parliament and now they have postponed it until saturday. so it looks as if we get the passing of the budget next saturday and we might very well get a revalue next sunday.

I sure hope that is right. I could use a big fat r/v next week, how about the rest of you?

worf

pipshurricane
Books : dhrgham on Sunday, January 28, 2007 1:57 PM-BT
A slight decrease in the demand for the dollar
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)

Decreased demand for dollar slightly at the beginning of meetings this week in an auction Iraqi Central Bank registered 99 million and 235 thousand dollars compared to 101 million and 510 thousand dollars last Thursday.
The daily bulletin issued by the Central Bank, and received news agency (Voices of Iraq) independent copy of, that the purchase orders were distributed at 14 million and 915 thousand dollars in cash and 84 million and 320 thousand dollars in the form of remittances outside the country, the Bank has full coverage at the exchange rate amounted to 1292 dinars to the dollar, which is the same rate meeting last Thursday.
The bulletin pointed out that the 16 banks that participated in the auction participated offers for the sale of one million dollars bought by the bank in full at the exchange rate reached 1290 dinars.
He said Mr. Sadiq Abdul Razzaq as far as economic and industrial expert told (Voices of Iraq) that the decline today Was declined morally and practically that high compared to the size of the circulation in the auction is stable in high demand that has been achieved due to exchange rate stability witnessed by the auction now or decline Aunkottin point or three and not more.

Translated version of Aswat al Iraq :: Aswat al Iraq

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What is your opinion, doesn't this mean that CBI bought dollars from the banks participating in the auction and not dinars as we have thought, or am I totally wrong?

Here is another piece of news from the same auction, notice the last sentence.

-------

Iraq-Currency
Dollar bids slightly lower, exchange rates stable in Iraqi auction
By Dergham Mohammed Ali
Baghdad, Jan 28, (VOI) – Dollar demand was slightly lower on Sunday, the first trading session this week, reaching $99.235 million compared to nearly $101 million on Thursday in Iraq’s central bank daily auction.
In its daily statement on Sunday the bank said it covered all bids which were $14.915 million in cash and $84.320 million in foreign transfers at an exchange rate of 1,292 dinars per dollar, unchanged from Thursday.
Sixteen banks participated in Sunday’s auction and offered to sell one million dollars which the central bank bought all at 1,290 dinars per dollar rate.

Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq

Iraq :: الشرطة - رواتب - سرقةPolice salaries - theft -
كتب: gazwan2 في يوم الأحد, 28 يناير, 2007 - 05:21 PM BTBooks : gazwan2 on Sunday, January 28, 2007 5:21 PM-BT

سرقة اكثر من 400 مليون دينار من رواتب شرطة صلاح الدينThe theft of more than 400 million dinars from the salaries of police Saladin
من غزوان الجبوريBy Ghazwan al-Jabouri
تكريت - (أصوات العراق)Tikrit - (Voices of Iraq)
قال مصدر في الشرطة العراقية في تكريت اليوم الاحد إن مسلحين مجهولين قطعوا الطريق على قوة من الشرطة كانوا ينقلون رواتب منتسبي الشرطة في ناحية الضلوعية بمحافظة صلاح الدين وسرقوا منهم اكثر من 400 مليون دينار عراقي ،واصابوا اثنين منهم بجروح بالغة.A source in the Iraqi police in Tikrit today, Sunday, armed men blocked the road on the strength of the police were transporting the salaries of employees of the police in terms of Ad Duluiyah in Salah al-Din and robbed them of more than 400 million Iraqi dinars, was killed and two were seriously wounded.
وأضاف المصدر في تصريح لوكالة أنباء (أصوات العراق) المستقلة عصر اليوم ان "مجموعة مسلحة مجهولة اعترضت عند ناحية الاسحاقي ظهر اليوم سيارتين مدنيتين كانتا تنقلان رواتب لمنتسبي مديرية شرطة الضلوعية حيث هاجموا السيارتين وجرحوا اثنين من الضباط المرافقين وسرقوا مبلغا من المال يقدر باكثر من ا400 مليون دينار عراقي."The source added in a statement to the News Agency (Voices of Iraq) Independent afternoon that "unknown armed group intercepted at hand Ishaqi noon today two civilian vehicles were moving salaries to employees of the police administration of Ad Duluiyah, where they attacked the two cars and injured two of the officers escorts and stole a sum of money estimated at more than a 400 million Iraqi dinars."
وأوضح المصدر الذي طلب عدم ذكر إسمه أن "الجريحين مصابان في الرأس وفي حالة حرجة وتم نقلهما الى المستشفى للعلاج."The source, who asked to remain anonymous said that "the wounded have also been afflicted in the head was in critical condition transported to the hospital for treatment."
ولم يورد المصدر تفاصيل اخرى.No mention of the source further details.

Translated version of http://www.aswataliraq.info/?newlang=ara

Originally Posted by Felita

pipshurricane
Books : dhrgham on Sunday, January 28, 2007 1:57 PM-BT
A slight decrease in the demand for the dollar
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)

Decreased demand for dollar slightly at the beginning of meetings this week in an auction Iraqi Central Bank registered 99 million and 235 thousand dollars compared to 101 million and 510 thousand dollars last Thursday.
The daily bulletin issued by the Central Bank, and received news agency (Voices of Iraq) independent copy of, that the purchase orders were distributed at 14 million and 915 thousand dollars in cash and 84 million and 320 thousand dollars in the form of remittances outside the country, the Bank has full coverage at the exchange rate amounted to 1292 dinars to the dollar, which is the same rate meeting last Thursday.
The bulletin pointed out that the 16 banks that participated in the auction participated offers for the sale of one million dollars bought by the bank in full at the exchange rate reached 1290 dinars.
He said Mr. Sadiq Abdul Razzaq as far as economic and industrial expert told (Voices of Iraq) that the decline today Was declined morally and practically that high compared to the size of the circulation in the auction is stable in high demand that has been achieved due to exchange rate stability witnessed by the auction now or decline Aunkottin point or three and not more.

Translated version of Aswat al Iraq :: Aswat al Iraq

------

What is your opinion, doesn't this mean that CBI bought dollars from the banks participating in the auction and not dinars as we have thought, or am I totally wrong?

Here is another piece of news from the same auction, notice the last sentence.

-------

Iraq-Currency
Dollar bids slightly lower, exchange rates stable in Iraqi auction
By Dergham Mohammed Ali
Baghdad, Jan 28, (VOI) – Dollar demand was slightly lower on Sunday, the first trading session this week, reaching $99.235 million compared to nearly $101 million on Thursday in Iraq’s central bank daily auction.
In its daily statement on Sunday the bank said it covered all bids which were $14.915 million in cash and $84.320 million in foreign transfers at an exchange rate of 1,292 dinars per dollar, unchanged from Thursday.
Sixteen banks participated in Sunday’s auction and offered to sell one million dollars which the central bank bought all at 1,290 dinars per dollar rate.

Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq

Announcement No.(851)

D.G. of Foreign Exchange Control

The 851 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/ 1/28 so the results were as follows :

Details Notes
Number of banks 16 -----
Auction price selling dinar / US $ 1292 -----
Auction price buying dinar / US $ 1290 -----
Amount sold at auction price (US $) 99.235.000 -----
Amount purchased at Auction price (US $) 1.000.000
Total offers for buying (US $) 99.235.000 -----
Total offers for selling (US $) 1.000.000 -----


Hi Felita

The CBI bought 99235000 US dollars worth of Dinar and sold back 1000000 worth of dinar to the banks for a net pull of 98235000. It's all good. I believe another top 5 in regards to amounts taken out of circulation.

Originally Posted by worf

Quote:
Originally Posted by shotgunsusie
tis indeed a woOt. it says to me that in the days ahead they are going to raise the rate but there will be no announcement or news about it until after they actually do it.




Sometimes I wonder if the Iraqis are trying to get their name in the Guiness book of world records in the category of stalling and delaying implimentation of laws passed by a soverign nation. How long can they delay implimentation of a law (fil) that they have already passed? Going on 3 months, do I hear 4? How about probably a lot of other bills/laws passed and just sitting there waiting to be implimented? Heck, they couldn't even spend all of the money sitting in their bank accounts that was already approved for reconstruction!!

Now as we approach month 2 out of 12 months in a year, they still haven't passed the "real budget". Of course the news reported they passed the budget last year. We were told it was the largest ever, 41 billion dollars. Then we were told they passed another law that the govt was required to do all of its' spending in dinars. Then we for a short time was told the budget was actually going to be 44 billion dollars. Then we were told they were trying to but haven't been able to pass "the real budget". We've been told that they were on the verge for what 3 weeks now? Then of course their is the hcl law which was supposed to be passed before the end of last year. The the news media said it was passed. Then the Kurds said oh, no it's not!! And now we wait, and wait and wait.

Meanwhile we investors just sit back and wait 'cause its all we can do (and pray). These Iraqis are their own worst enemy. Forget about Al Keida, Iranians, and the insurgency. They don't need 'em. They have themselves as their own worst enemy. LOL SSSSHHHHEEEESSSSSHHHHH!!!! Would they just do their jobs for once? Hey, Mr. Iraqi politiican, look outside your ivory tower for once. Your countryman are dying out there.

worf

Very well stated Mr. Worf!


Cheers!
DayDream

Shahrastani oil imports distributed among all Iraqis

Dr. Hussein Shahrastani Oil Minister completion of the final draft of the oil and put it on the Energy Commission and the Council of Ministers, which received the unanimous approval of the draft by the Committee with certain modifications that have taken place and this draft will be presented to the Cabinet for approval to be sent to the House of Representatives for the passage of legislation after debate it

The minister said : that the law affirms that the resources derived from oil sales will go to fund one centralized and distributed to all Iraqis in the provinces, prefectures and the proportion of the population. The law will restore activity to the National Oil Company, which will be responsible for the development of the fields to increase production and exports and will be the oil industry, however, the basic competencies Iraqi keen to provide expertise for the people. He added : Since enjoyed by Iraq of the potential oil and gas major will be allowed law by offering contracts to oil companies large global after it had been verified Rassantha and accept competition for the development of some fields to the highest payoff for the Iraqis and competition will be open for all and will not consider the nationality of the company and must be companies qualified technology to develop our fields, as soon as possible and have the financial capabilities to invest and verify Iraq's highest economic benefit and we do not have standards for the States involved in the war or existed in Iraq at the time. As for the fields will be produced from the share of the National Oil Company.

He explained Dr. Shahrastani, foundations proved that the law and the development of policies and plans to develop the oil-balanced in all parts of Iraq and now all parties agree, everyone believes that this law a major achievement and a national project that do not now exist differences on the law and not from our brothers in Kurdistan or the other.
The minister pointed out that the law laying down precise and clear of any contract does not achieve the highest benefit of Iraq will not take place and that all contracts entered whether in time of the former regime or in the Kurdistan region will be reviewed in the light of this law and if there was grounds to make adjustments in order to ensure higher returns will be audited and to amend the contracts and there is no contracts are not subject to revision.
And between Shahrastani that extensive discussions of the law settled on the composition of the federal oil and gas under the chairmanship of the Prime Minister or on behalf of the membership of the Ministers of oil, finance and planning, and others who will exercise the powers of contracts is the authority that decides policies, plans and oil contracts assessed and the nature of the fields that will be offered to compete and to consider the contract and approval.

Translated version of http://www.alsabaah.com/

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To examine the files of inflation, debt and foreign investment Baghdad / justice.
التقى نائب رئيس الجمهورية الدكتور عادل عبد المهدي محافظ البنك المركزي الدكتور سنان الشبيبيHe met with Vice-President Dr. Adel Abdel Mahdi, Governor of the Central Bank, Dr. Sinan Shabibi

وتم خلال اللقاء مناقشة العديد من الملفات من اهمها التضخم الحاصل في الاقتصاد العراقي . وملف الديون وقانون الاستثمار الاجنبي الذي سيعرض على مجلس النواب للمصادقة عليه وأكد السيد المحافظ ان اسباب التضخم لاتتعلق بالظاهرة النقدية أساسآ بل بالوضع المالي عمومآ حيث انه هناك ضغط بأنفاق يتعلق بالجانب الامني والجانب الخدمي مع قلة في عرض السلع لذلك ينتج عنه تضخم . فالمطلوب التنسيق بين السياسة المالية والسياسة النقدية . (وعن قانون الاستثمار(نحن نتوقع له فوائد كثيرة أيجابية بالاضافة الى انه احد التدفقات الاساسية للاقتصاد .والاستثمار ليس تدفقا ماليا للبلد بل اداريا وتكنلوجيا بالاضافة يكون مكملا للاستثمار المحلي من اجل زيادة الناتج المحلي .وعن امكانية رفع قيمة الدينار العراقي ... ان ارتفاع قيمة الدينار ترتفع من خلال الاعتماد على ان البلد يستطيع ان يوفر كمية من العملة الاجنبية عن طريق زيادة الصادرات وحجم الصادرات وتقليل الديون بالنتيجة الآقتصاد هو الذي يرفع قيمة الدينار.During the meeting, discussion of many of the files of the most important inflation in the Iraqi economy. File debt and foreign investment law which will be presented to the parliament for approval and the governor stressed that the causes of inflation for اتتعلق phenomenon cash basis, but the financial situation in general terms that there is pressure to spend the security aspect and the service with little in the supply of goods to result in inflation. What is needed is coordination between fiscal policy and monetary policy. (And the Investment Law (We expect him many positive benefits in addition to that one base flows of the economy. The investment flow is not financially, but the country's administrative and Tknlujia addition complement domestic investment in order to increase GDP. As for the possibility of raising the value of the Iraqi dinar. The rise in the value of the dinar will rise by relying on the country could provide a quantity of foreign currency through increased exports, the volume of exports and reduce debt outcome is the economy, which raises the value of the dinar.
http://66.249.93.104/translate_c?hl...2006-04,SUNA:en