Thread: Iraq/Dinar News up until March 28th 8PM CT.

Undersecretary of the Ministry of Industry : Iraqi goods would compete with their foreign counterparts
المصدر: المدى Source : long
20 / 03 / 07
Mr. Mohammed Abdullah Al-Ani and Undersecretary of the Ministry of Industry for companies that the product of the Iraqi industry would be a good competitor for goods imported after the restructuring of the ministry and the creation of companies to gradually transformed from the public sector to the private sector and the concept of a new ministry to take a supervisory role when new.

This came during a press statement, adding that the ministry would begin a process of economic transformation from where other countries, pointing out that it has been briefed on the experiences of other countries in the privatization process through visits by for the point to the successes and shortcomings of those States in the privatization of their companies and to prevent the fall in the these errors, which is the Ministry of IT specialists understand the gradual process of economic transformation

He pointed out that the cadre had developed a strategic plan and clear and fixed based on modern thought to restructure the ministry companies, the ministry said was dividing into three categories was the first profitable companies, which included cement and fertilizer companies, pharmaceutical companies, oil companies, the second incorporated close to the point of equality between profit and loss, while The third category of vulnerable companies that do not possess economic feasibility. at the same, undersecretary of the Ministry of Industry said that the ministry has a constant in how to deal with the profit-making companies with the economic feasibility, which would increase in production capability, saying that the companies achieve an increase "productive capacity to the equivalent of 10% annually, stressing that the process of transition from a planned economy to a free must be a process of economic reform and activated through the creation of environment for investment, economic and viable banking and sophisticated expressing his optimism to the success of the country's economy after a gradual process of economic transformation.

Ani added that a large part of the Ministry's companies that represent the public sector will, however stages of the development of the law of investment to the private sector, pointing out that the ministry has contributed greatly develop new investment law, including making it ready to be implemented and that the Ministry of many files full investment, which would reform its companies expressing expressed optimism that the new shift will absorb a large number of employment through the creation of new projects.

In the same context, the agent that many of the companies that had been subordinated to the Military Industrialization Corporation, which had been previously converted formations within the Ministry of Industry and Minerals is one of the profit-making companies, the competition in the market economy has considerable experience can be utilized in developing the potential of the ministry such as Al Zawra, the martyr and challenge.

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Privatization and social impacts
المصدر: المدى Source : long
20 / 03 / 07
Addressing the issue of privatization as a means in the contemporary context of public sector reform and restructuring in the developing countries, yet the role of the state has shifted to the developmental, corrective, which is the process of great complexity, because most of these countries depend on a single (or a limited number of commodities) in exports .. And are thus more vulnerable to external shocks, as it suffers from heavy debts are not commensurate with its economic capabilities, and therefore suffer from chronic and increasing deficit in their budgets or the balance of trade also suffer high rates of inflation, unemployment, in addition to the broad weakness of infrastructure and low efficiency of financial and economic institutions and the low level of income individual.

The main objectives of this correction (ie restructuring the direction of privatization) :
1- redistribution of roles between the public and private sector and the gradual withdrawal of the state from certain economic activities and to pave the way for private initiatives by encouraging private investment.
2-alleviation of the financial burden borne by the general budget support for the result of the loss-making projects and devote their resources to support the sectors of education, scientific research, health, attention to infrastructure and economic installations important strategic outlook.
3- Three-development and revitalization of the financial market.
4- Creating a suitable investment climate and encourage domestic investment to attract foreign capital and local Arab and foreign countries.

The determination of the objective of the privatization program, the cornerstone of its success, because it makes it easy to identify the first projects to privatization than others. In Iraq, the goal set by firing dynamic growth in the economy and create jobs by attracting capital (domestic and foreign) and the use of modern techniques and the development of administrative efficiency, organization and marketing. Then followed the goal of expanding and diversifying the ownership base in order to increase competition by encouraging the private sector to enter into economic areas previously the preserve of the public sector. As for the financial objectives in the forefront of relief from the burdens of the general budget of the continued depletion of the treasury in the form of support for the projects in addition to making public revenue implications of the sale or lease of some projects.

Privatization policies
هناك سياستان رئيسيتان للوصول الى الخصخصة:There are two main access to privatization :
1- spontaneous privatization process : the encouragement of the private sector and support a position to increase its weight in the national economy that does not affect this process to the activities of the public sector, this method relies on the implementation of the State's incentive means of encouraging the private sector with the creation of the economic base of growth and create the appropriate means of investment.
2- privatization structural : a process to reduce the role of the relatively large public sector through the sale of some of its production or service, and this method usually requires a long period of time sufficient to ensure that all government institutions to adjust their investment plans, follow these procedures liquidation proceedings of public institutions, which proves the futility of reform without affecting the Political and social considerations.

Methodsof privatization
:First : The methods involve the partial or total sale of the companies include :
1- One-year subscription offering : the state put up all or part of the company's capital shares for sale to the public through the stock market or the adoption of new assessment of the company to determine the number and share price (that the commercial banks are also marketing Release).
2- proposals for subscription : sell the company's shares or in part to one investor or group of investors, or perhaps sold to another company already in existence or to financial institutions and this has benefits, including :
- The lack of commitment to the dissemination of information on the companies that put publicly traded.
- The small number of shareholders in order to facilitate decision-making.
The disadvantages include the possibility of collusion between bidders or investors, and causes monopolistic situations, especially the most dangerous of the public sector monopoly.
3- owns workers and members of the administration of the share of the company's capital in one of two ways :
Selection : the issuance of the company's shares to the document on behalf of every member of the administration and give it the right to purchase part of the shares of the company's capital later and the rate specified in the document (and usually less than the prices offered shares for subscription).
- Employee participation in the company's capital : the organizational unit competent behalf of the workers (which may be the union) to obtain a long-term loan in order to finance the purchase of part of the shares in the share capital and to be paid interest on the loan from the dividends purchased.
Second : methods do not involve the sale : This is done in three ways :
1- .One-division companies to separate units : the restructuring of companies and the sale of some assets of the appropriate disposal.
2- - bring additional private investment : lure additional investments from the private sector either to rehabilitate the company or to fund new investments.
3- LEASE : They contribute to the company to provide technical skills and competencies and provide operating expenses without abandoning the property.

The negative effects of privatization
انThe most important risks of privatization is in surplus labor, which usually set aside for reasons of political, social, ideological and economic reasons to employ as this will lead to increasing the ranks of the unemployed and is leading to economic problems jeopardize the security of the country at risk and there are proposals to :
1- attempting to impose working on the new owners.
2- to encourage workers to own part of the shares of public enterprises to become the new owners.
3- preparation training program focuses on the transfer of disciplines that demand will rise in the near future and provide credit facilities to assist employees to the creation of small enterprises, or buy some productive assets.
التوصياتRecommendations
1- workers to give the issues a high degree of importance and the removal of the negative effects on the future and continue to work to be involved in the success of the privatization program, taking into account only in the early stages of the projects are small with limited employment.
2- to ensure that accompany privatization processes of transparency and clarity in all its stages.
3- To ensure that the privatization process does not lead to the emergence of a new monopoly positions.
4- emphasis on the principle of equitable opportunities for all applicants for the purchase or lease of projects to be privatized.
5- .Five-set standards for the projects that must remain, however, the State and not to privatize strategic reasons, economic or social.
6- restructuring of some companies to be privatized in order to raise the assessment of its assets.

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Iraqi trade refuse <Raza and tea> non-qualification
المصدر: الزوراء Source : Zawra
21 / 03 / 07
The Iraqi Trade Minister, Abdul Hassan Sudanese farmer, said that his ministry seeks to improve the ration card items distributed through marketing outlets in Baghdad and other governorates.

He added in a press statement that his ministry had taken a range of measures deterrent against contracting firms, including the refusal of large quantities of rice and tea for non-compliance controls and conditions of the approved contract with the ministry, and also checking and testing the quality of all the necessary materials to be supplied through the quality control in the ports and services commercial.

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(How do I get the adds off of my smiley's?!)

Good morning, all. Just reading through threads again, trying to catch up.


If the rate is presently fixed until the 25th or so of this month, do you think (crazy question) that they are strategicly planning on raising it after that, or is this same-ole, same-ole once again? Also, don't know who you are, but whoever posted the explanation that in the event of a lop we would be able to exchange our dinar for the new? I'm confused a little still, but trying to learn.
Tammy

Riyadh: Al-Maliki obstacle to Arab support for Iraq
يتهBarzani welcomed by the Palestinians in Amman Kurdistan National Guard, holding the house and assaulted the Hashemite protection

Cairo Mustafa Amara
Amman Saad Abbas
Baghdad Karim Zair
Riyadh Azzaman

Indications from the political Riyadh yesterday that Arab capitals are convinced that the consensus on the decisions for the benefit of Iraq's security and stability at the top of Riyadh next obstacle facing the government Nuri al-Maliki in Baghdad. At a time Diplomats in Cairo yesterday on the gradual shift in the map of alliances between domestic Iraqi forces after visits Almvajetin of Masoud Barzani to Riyadh, Amman and his meeting with the Saudi monarch, King Abdullah bin Abdul Aziz, Jordanian King Abdullah II.

He said Kurdish political parties in Arbil told (time) refused to reveal his name (the old alliances in Iraq could not be in the interest of the country and used for playing cards from under the table and attempt to calm the situation, especially as hidden) without referring to the alliance between the Kurdish forces and the Shiite coalition.

On the other hand, raided members of the National Guard home of Tariq Hashemi Iraqi Vice President in the area of Al-Mansour in Baghdad and attacked the guards, while not Hashmi in the house, which was inhabited before the war. The raid took place despite the implementation of thousands of American soldiers and Iraqi security plan Baghdad.

While Iraqi Police said they found the 30 bodies were executed owners shot in the head but sources at the Baghdad morgue said they had received 70 bodies. In relation to the Iraqi file is most tense in the approach to the deliberations of the preparations for the summit Riyadh. The Arab diplomat as the importance of the files of Lebanon, Sudan and the Palestinian issue, which will be the subject of research also. Diplomatic sources that Riyadh hosted on Wednesday and Thursday last two meetings of some Iraqi political leaders.

The official Saudi source said that it was important that there be a positive role Arab help Iraqis various categories of access to the stability and the Kingdom of contacts comes in this position.
Arab diplomatic source in Riyadh said that Saudi Arabia wants to know what is going on developments in Iraq from various Iraqi factions.

He expressed his belief that reservation about the Saudi government-Maliki, which hopes the formation of a new government more representative of all groups and sects.

His head Massoud Barzani's Kurdistan region in a press conference in Amman fears of the consequences of the failure of the security of Baghdad. He said that "the success of the plan is still relatively." He added that "there are some political forces and religious missed opportunity of a free, democratic Iraq, warning of the consequences of the failure of the security plan."

He pointed out that his visit to Jordan and Saudi Arabia aims to bolster cooperation as Iraq and the Arab States denied an attempt to circumvent the government or a government-Maliki light.

Barzani also renewed his condemnation of any aggression against Palestinians living in Iraq, said (if the Arab countries refuse to receive the Palestinians will assemble in Kurdistan hospitality and care), and added (no restrictions on the entry of any Iraqi Kurdistan, there are more than 18 thousand Iraqi families displaced from several provinces to the province, there are thousands of doctors, engineers and intellectuals to receive them Territory, and there is no security procedures are subject, only persons unknown subject to the security procedures to ensure that they did not come for terrorist purposes, either persons known they are not subject to such procedures).


Azzaman International Newspaper - Issue 2649 - Date 21/3/2007Azzaman International Newspaper-2649-Issue Date March 21, 2007

21/3/2007Newspaper (Azzaman) - The International 2649-the date March 21, 2007

azzaman

UAE rules out currency revaluation ahead of other GCC countries



The United Arab Emirates (UAE) has ruled out the possibility of revaluing its currency ahead of other Gulf Cooperation Council (GCC) countries, local newspaper Gulf News reported on Sunday.
The continued decline of U.S. dollar, which has fallen 10 percent against euro in 2006, has weakened GCC countries' currencies pegged to it, the report said.
GCC countries will discuss whether to revalue their currencies at the upcoming meeting of central bank governors to be held in April, the UAE Central Bank Governor Sultan Nasser Al Suwaidi said.
"We will not act unilaterally, but if (the governors) come to the conclusion that we should go in this direction or that direction, we will go along," he said.
Al Suwaidi added that his country is waiting for the right time to raise its euro reserves. The UAE holds 3 percent of its reserves in euros, with the rest in dollars, and plans to raise its euro reserves to 10 percent.
GCC countries, which comprise Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE, pegged their currencies to the dollar in 2003 under a plan to unite under a single currency by 2010.

Originally Posted by cooldolphins

(How do I get the adds off of my smiley's?!)

Good morning, all. Just reading through threads again, trying to catch up.


If the rate is presently fixed until the 25th or so of this month, do you think (crazy question) that they are strategicly planning on raising it after that, or is this same-ole, same-ole once again? Also, don't know who you are, but whoever posted the explanation that in the event of a lop we would be able to exchange our dinar for the new? I'm confused a little still, but trying to learn.
Tammy

Quite simply, let's say you bought $1 million Dinar from Chase bank. Then the CBI decides to do a zero lop. You have an avenue to turn in the Dinar you bought from Chase back to Chase in exchange for the new Dinar (or your USD).

With that said, don't worry about being "stuck" with "old Dinar". Since the Big banks have begun trading the Dinar, that is your biggest indicator this currency will stay "as-is" for quite some time.

Hope this helps.

Thank you.

Today is a holiday - the Persian new year. Maybe that's why the CBI did not update. Actually it is : Worldwide Public Holidays and Bank Holidays - March 2007

Also there has been a bombing by the Finance Minister in Baghdad, that may be a reason too...

First : the allocation of the amount estimated (10) million dollars to compensate the families of the city of Tall Afar

The Deputy Chairman of the Committee Ammar Tall Afar in a statement issued from the Information Service of the Ministry of Industry received (all of Iraq) : a copy of the task of compensating the families of the city of Tall Afar lies with the province and the amount estimated (10) million of the principal amount (50) million

Is what was earmarked for the reconstruction of the city. وHe added during extensive meetings held in Tall Afar last week that the remaining amount of (40) million has been distributed to the relevant ministries Reconstruction after deducting a sum that has been estimated (6.6) billion dinars is the price differential between the dollar amount of the allocation of a year ago and release currently, and pointed : that this amount with an additional amount of up to $ 2 million, the department had Red Crescent aid to the residents have a negative impact on the work of the Committee, which approached the Council of Ministers need to make up for these funds, which will contribute to the implementation of the work as planned.

According to the meeting, which was attended by a representative of the province of Nineveh, and the Chairman of the Tall Afar district with a representative of the municipality eliminate emphasis on the need to give priority to the implementation of business to the people and not the assignment of more than a tender to one contractor with an emphasis on the ministries concerned, regardless dues contractors after ascertaining the quality of the work. It is noted that the work of this Committee, which will participate in each of the ministries (health, electricity, education, municipalities, communications, transport, construction and housing) projects will contribute to absorb a large manpower and have positive impacts on the stability of the security situation.


All Iraq - Iyad Aboudi

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First : the Minister of Finance following the return of funds smuggled by the henchmen of the former regime

The Minister of Finance Baqer Jabr Al-Zubaydi said that the Ministry of Finance continues to make efforts to restore Iraq's funds, especially those funds and property stolen (Saddam and men), and smuggled outside the country, and added Zubaidi : The ministry is determined to recover those funds and are followed legal procedures for establishing the rights of the Iraqi state in those funds, and the Minister of Finance :

The Swiss authorities agreed to transfer ownership of the shares of the Swiss company that owns one of deficiencies in Cannes, South of France on behalf of the Iraqi government, which was supervised by the named successor Dulaimi commissioned by the former regime, as named above has frozen funds in Switzerland, according to the resolutions of the Security Council and the ministry following are he talks to those of the funds.

The minister emphasized the importance of personal follow-up and continuing each Iraqi funds whether those that escaped abroad or frozen resolutions of the Security Council, where efforts are being made to release the amount (4) million euros frozen to the French authorities for transfer to the Development Fund for Iraq, and work in coordination with the Iraqi Foreign Ministry.

All Iraq - Iyad Aboudi

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