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

The 888 daily currency auction was held in the Central Bank of Iraq day Thursday 2007/ 3/ 22 so the results were as follows :

Details Notes
Number of banks 17 -----
Auction price selling dinar / US $ 1277 -----
Auction price buying dinar / US $ 1275 -----
Amount sold at auction price (US $) 72.605.000 -----
Amount purchased at Auction price (US $) 201.000
Total offers for buying (US $) 72.605.000 -----
Total offers for selling (US $)

Iraqi Stock Exchange is preparing to join the International Federation of Stock Exchanges
Source : file Presse-21 / 03 / 2007

It is expected that the market for Iraq securities important developments during the coming period, where it is hoped accession to the International Federation of Stock Exchanges, as well as the updated rules and procedures for the circulation of non-Iraqi Arabs and foreigners, after the government agreed to, and empowered stakeholders preparing special instructions in this regard, as The market continued to take measures to complete the project of electronic transaction and central depository, including means to achieve the level of connectivity with Arab and international stock exchanges and mutual investment guarantee and equity trading.

This was emphasized by the Executive Director of the Iraq market for securities Taha Ahmed Abdul Salam, explaining that participated in the Iraqi Stock Exchange earlier this year in the establishment of the Union of Arab Stock Exchanges across the Iraqi securities, and market accession to the Union of Asian bourses were early last year, and that stage training in the use of the electronic trading system has been completed, and is continually being installed devices and equipment for the direct application of this system and transfer files investors of companies contributing to the deposit, which will help in dealing with everyday problems of the work of the Stock Exchange, and more rapid turnover of shares, as well as to encourage investors training and moving to electronic trading and accept the inclusion of new companies in the market, as well as the expansion of the investment signing of the agreement with the concerned bodies in Cordstan to open the hall to circulate securities, there are electronically connected with the market in Baghdad, Iraq, as well as the study of a similar step for the opening of the circulation in Basra.

And is noteworthy that the Iraq market for securities implemented during 2006 last 93 meetings circulation rate of two per week, during which the circulation of 58 billion shares worth 146 billion dinars.

A meeting promoting the second Iraq International Fair in Gaziantep scheduled for May, was auspiciously held on the day of Nevruz Bayram in Istanbul.

Undaunted by the dismal security and economic situation in Iraq, State Minister for Trade Kürşad Tüzmen spoke enthusiastically of a roadmap involving elements of the private sector and called for cooperation between neighbors. A meeting of over 3,000 Turkish and Iraqi businesses was organized in Gaziantep last year and a huge Middle-East fairground is to take place there on May 23-27 this year. “We will do whatever we can to develop Iraqi-Turkish trade and industry,” said Tüzman. Iraqi Minister of Planning Ali Baban said that Turkey would play a big role in Iraq's reconstruction. Tüzman called for the development of infrastructure.

He said that a second and a third border crossing to Iraq should be opened and that all major southern Turkish cities would be connected to Iraq by a modern highway system. “You will be able to get from Turkey's southern cities to Basra in a single day,” he said.

Minister of Iraq's Water Resources Abdullatif Jamal Rashed stressed that wars during the Baathist period, the economic embargo and the current security situation meant that 90 percent of Iraq's infrastructure needed to be overhauled. He did not include the effects of the last war in Iraq in his summary of the situation.

“Unfortunately Iraq's budget is exclusively reliant on oil,” he said, but hoped that this would change, adding that Iraq hoped to double its current budget of $42 billion. Improvement and services account for one quarter of the budget. He said Turkish products and contractors were admired by Iraqis and urged Turkish business to apply to government tenders allocated through the ministries under the new investment law. Implementing projects on time is a top priority, he said. “Iraq is as transparent as any other society as far as economic and budget spending are concerned. We have created a number of economic watchdogs,” said Rashed, rejecting accusations of corruption. He added that the cheap cost of Iraqi labor and expertise are incentives for investment and that Turkey's proximity to Iraq could overcome the scarcity of building materials there. “Not all parts of Iraq are suffering from the threat of terrorism.”

Tüzmen said that energy is one of the biggest fields of collaboration and urged for the Iraqi Hydrocarbons law, which has been approved by the Cabinet but has not yet been submitted to Parliament, to come out as soon as possible. He stated the importance of a natural gas pipeline between Iraq and Turkey.


© 2005 Dogan Daily News Inc. Turkish Daily News - Mar 22, 2007

Iraq 'nears deal' with insurgents
Thu, Mar 22, 2007

An Iraqi official said today the government was holding talks with some major insurgent groups that might see some join a fight to drive al-Qaeda out of Iraq.

Saad Yousif al-Muttalibi, international affairs director at the National Dialogue and Reconciliation Ministry, said the talks were designed to persuade the groups to halt guerrilla warfare against the government and help defeat al-Qaeda.

"We've already established links and contacts with major insurgent groups," Mr Muttalibi told the BBC. "One of the aims is to join with them into the fight against al-Qaeda. We are almost getting there and to join forces to attack al-Qaeda to get them out of Iraq."

Insurgents draw support from Iraq's Sunni Arab minority, once dominant under Saddam Hussein.

The western Anbar province has been a hotbed for the insurgency, but since last September there has been a mounting power struggle in the area between al-Qaeda, which has non-Iraqi Arabs as its leaders, and fellow Sunnis who oppose the group.

Increasing sectarian violence between Sunnis and Iraq's majority Shia Muslim community has become an additional security concern in the country.

Shia Prime Minister Nuri al-Maliki - who heads a coalition government of Shias, Sunnis and Kurds - has ordered a major crackdown against insurgents and sectarian violence in Baghdad.

President Bush is sending about 26,000 more US troops to Iraq, mainly to back the crackdown in Baghdad.

© 2007 ireland.com

Bahrain calls for stability in Iraq
By ROBERT SMITH
Published: 22nd March 2007

BAHRAIN yesterday called for a more independent Iraqi government and increased efforts to rebuild the war-torn country. The message was delivered during an address by Crown Prince and BDF Commander-in-Chief Shaikh Salman bin Hamad Al Khalifa at the Indian Council of World Affairs, New Delhi.

He stressed the importance of dialogue and diplomacy in ensuring peace.

"It is simply not possible for us to ignore conflict and bloodshed wherever it may be in the world, and especially when it impacts on the lives of our neighbours," said Shaikh Salman.

"In Iraq, we call for greater independence of the Iraqi government and greater support in development of its damaged and fragile infrastructure.

"To see an Arab neighbour dissolve into civil war and suffer from a period of such destruction while the Gulf region as a whole is undergoing growth and development is a tragedy on every level.

"Every day brings with it news of more dead and injured, of the waste of human life and the futility of war.

"We will do all we can to help Iraq establish a stronger government and to bring about stability and peace through dialogue and reconciliation."

Shaikh Salman also urged Iran to avoid plunging the region into an escalating arms race and pledged support to the Palestinian's struggle to achieve statehood.

"We will continue to do all we can to help its (Palestine's) people achieve statehood, while being committed to an equitable solution that recognises the need to find a just and lasting peace," he said.

"Indeed, if the peace process had been alive and well - rather than ailing on its sick bed - we would not have had to witness the recent wave of discontent, disaster and death in Israel, Lebanon and occupied Palestine.

"Here too we call for greater dialogue and diplomacy, for the active engagement of all parties in reaching long-term, effective solutions."

Shaikh Salman made the address during his first official visit to India, where he opened the Bahrain Embassy in New Delhi yesterday.

He said diplomacy was "crucial" to both personal and political well-being and described Bahrainis as "diplomats".

"That is where Bahrain and we as Bahrainis seek to position ourselves - as diplomats," he said.

"It is a role we do not simply assume.

"We believe very strongly in the need to practice what we preach - through our membership of the GCC, the UN and through continued political dialogue with partners in the US, Europe and Asia.

"And we aim to lead by example - as a proud Arab nation and as an active member of the international community."

He added that diplomacy was important both within Bahrain and the wider world.

"The internal parts and the external are parts of the same whole," he said.

"As a nation we have been managing a process of significant internal change through dialogue.

"In 2000 we underwent a process of democratic political reform. We worked to build bridges within our own communities through engagement and dialogue. "That democratic reform process is still underway, but it is one that is taking place successfully and peacefully."


--------------------------------------------------------------------------------

© Gulf Daily News

Originally Posted by Lunar

Iraqi Stock Exchange is preparing to join the International Federation of Stock Exchanges
Source : file Presse-21 / 03 / 2007

It is expected that the market for Iraq securities important developments during the coming period, where it is hoped accession to the International Federation of Stock Exchanges, as well as the updated rules and procedures for the circulation of non-Iraqi Arabs and foreigners, after the government agreed to, and empowered stakeholders preparing special instructions in this regard, as The market continued to take measures to complete the project of electronic transaction and central depository, including means to achieve the level of connectivity with Arab and international stock exchanges and mutual investment guarantee and equity trading.

This was emphasized by the Executive Director of the Iraq market for securities Taha Ahmed Abdul Salam, explaining that participated in the Iraqi Stock Exchange earlier this year in the establishment of the Union of Arab Stock Exchanges across the Iraqi securities, and market accession to the Union of Asian bourses were early last year, and that stage training in the use of the electronic trading system has been completed, and is continually being installed devices and equipment for the direct application of this system and transfer files investors of companies contributing to the deposit, which will help in dealing with everyday problems of the work of the Stock Exchange, and more rapid turnover of shares, as well as to encourage investors training and moving to electronic trading and accept the inclusion of new companies in the market, as well as the expansion of the investment signing of the agreement with the concerned bodies in Cordstan to open the hall to circulate securities, there are electronically connected with the market in Baghdad, Iraq, as well as the study of a similar step for the opening of the circulation in Basra.

And is noteworthy that the Iraq market for securities implemented during 2006 last 93 meetings circulation rate of two per week, during which the circulation of 58 billion shares worth 146 billion dinars.

What a great find Lunar!!

Originally Posted by PAn8tv

Iraq 'nears deal' with insurgents
Thu, Mar 22, 2007

An Iraqi official said today the government was holding talks with some major insurgent groups that might see some join a fight to drive al-Qaeda out of Iraq.

Saad Yousif al-Muttalibi, international affairs director at the National Dialogue and Reconciliation Ministry, said the talks were designed to persuade the groups to halt guerrilla warfare against the government and help defeat al-Qaeda.

"We've already established links and contacts with major insurgent groups," Mr Muttalibi told the BBC. "One of the aims is to join with them into the fight against al-Qaeda. We are almost getting there and to join forces to attack al-Qaeda to get them out of Iraq."

Insurgents draw support from Iraq's Sunni Arab minority, once dominant under Saddam Hussein.

The western Anbar province has been a hotbed for the insurgency, but since last September there has been a mounting power struggle in the area between al-Qaeda, which has non-Iraqi Arabs as its leaders, and fellow Sunnis who oppose the group.

Increasing sectarian violence between Sunnis and Iraq's majority Shia Muslim community has become an additional security concern in the country.

Shia Prime Minister Nuri al-Maliki - who heads a coalition government of Shias, Sunnis and Kurds - has ordered a major crackdown against insurgents and sectarian violence in Baghdad.

President Bush is sending about 26,000 more US troops to Iraq, mainly to back the crackdown in Baghdad.

© 2007 ireland.com

They've finally figured out a way to take care of the al-qaeda! Well hello, I believe WE (ROL) figured this out first. Anyways this is a genious idea! Now let's watch them kick some al-qaeda butt!!

Voices of Iraq : Al-Maliki Ban Ki-Moon (Urgent)

Saleem wrote : On Thursday, March 22, 2007 2:22 PM-BT

Television : Al-Maliki will meet the Secretary General of the United Nations in Baghdad
Baghdad - (Voices of Iraq)
The channel (Iraqi) official today, Thursday, that the Iraqi Prime Minister Nuri al-Maliki met with the Secretary-General of the United Nations (Ban Ki Moon), which reached Baghdad this morning on an official visit not announced in advance.
She added, "This is the first visit by the (Mon) to Baghdad since he assumed office in January last January."
The (Iraqi) indicated that this visit comes within the framework of his tour of the Secretary-General begins tomorrow, Friday, to the countries of the Middle East.
The (Iraqi) quoted earlier today from a source in the Iraqi government news
The imminent arrival of the Secretary General of the United Nations to Baghdad

Version traduite de la page http://www.aswataliraq.info/?newlang=ara

Books : dhrgham on Thursday, March 22, 2007 1:19 PM-BT

Arbvae demand for the dollar purchase auction Central Bank
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
The demand for dollar in the auction the Central Bank of Iraq today, Thursday, at the conclusion of the meetings of the week, recording the volume reached 72 million and 605 thousand dollars compared to 56 million and 899 thousand dollars on Tuesday.
Such purchase orders by 18 million and 255 thousand dollars in cash and 54 million and 350 thousand dollars in the form of remittances outside the country, the Bank has full coverage at the exchange rate stable for the second consecutive week of 1277 dinars, the same rate yesterday.
With advanced banks of the 17 participating in the auction, bids for the sale of 201 thousand dollars bought by the bank in full at the exchange rate of 1275 dinars to the dollar.
He explained to Mr. Yasiri, one dealing with the World News Agency (Voices of Iraq) Independent that the reason for the return of offers of sale is the exchange rate depreciation of the dollar in the local market in a way that makes the process of utilitarian value to speculators, which will encourage the return of offers of sales coming days.


Version traduite de la page http://www.aswataliraq.info/?newlang=ara

Baghdad Abbas Algalbi
.
Sinan Shabibi governor of the Iraqi Central Bank here recently in the media and that the economic tightening monetary policy pursued by the Central Bank currently lest international pressure by the International Monetary Fund, saying that it had come within the framework of monetary reforms in the country.

.
He said in an interview to "Assabah" that the policy of the Central Bank of Iraq adopted as a result of the hard conditions experienced by Alaghtassadaraghi for inflation, which causes uncontrolled Madara significant monetary impact of the economy in the value of money as well as the lack of purchasing power to predict what withdraw negatively on the estimates relating to the budget.
.
He added : The Central Bank aims of this policy is to achieve stabilization in prices using monetary tools (the dinar rate of exchange against foreign currencies and higher interest rates) to reach the reasonable indicators of inflation, which has become a threat to the Iraqi economy and development. linking Shabibi success of this policy stability extent to which the consumer prices through the management of liquidity designed to influence through control of inflation.

.
Shabibi and praised the State's general budget for 2007 in terms of allocations and expenditure and the dimensions of development and investment at the same time warned of the economic imbalances that accompany a spending budget.
(ت
Shabibi this warning is based on the fact that any developmental activity crescendo resulting in higher inflation indices, it negatively affects ultimately conducive to economic development).
.
He called in the same context to the need for a mechanism to monitor the implementation details of the budget, particularly investment, confirming the importance of the commitment that the ceiling ministries financial allocation in the light of budget limitations. In the area of economic reforms called for the activation of other productive sectors and increase their growth rates to become more efficient to meet the demand of the public provided that do not lead to economic imbalance affirming support and encourage the Central Bank of Iraq in the sustainable economic development provided that do not lead to inflationary pressures and adversely affect development.
الاقتصادي.
The Shabibi the need for continued coordination in the implementation of fiscal and monetary policies to achieve economic stability and growth.
Translated version of http://www.alsabaah.com/ air=ar%7Cen&hl=en&ie=UTF8

FROM THE DARK SIDE...IT is big big big......