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

Originally Posted by Dinar Cha Ching

I know, that's what makes it even more ridiculous.

Funny,

Don't forget that the majority in Iraq are illiterate, so it makes complete sense that the police would miscalculate explosive power of such a blast. Sad, but true, and we have seen examples of this through out gov. so the police are probably more illiterate than parliament, maybe same level as cabinet. (g)

Good luck to all, Mike

Iraq-Currency

Voices of Iraq / Baghdad
Posted by saleem on Mar 22, 2007 - 02:27 PM
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Iraq-Currency
Higher demand for dollar in daily auction
By Dergham Mohammed Ali
Baghdad, March 22, (VOI) – Demand for the dollar increased in the Iraqi Central Bank’s daily auction on Thursday, reaching $72.605 million compared with $56.899 million on Wednesday.


Iraq-Currency
Higher demand for dollar in daily auction
By Dergham Mohammed Ali
Baghdad, March 22, (VOI) – Demand for the dollar increased in the Iraqi Central Bank’s daily auction on Thursday, reaching $72.605 million compared with $56.899 million on Wednesday.
In its daily statement the bank said it had covered all bids, which included $18.255 million in cash and $54.350 million in foreign transfers, at an exchange rate of 1,277 dinars per dollar, unchanged since yesterday.
Seventeen banks participated in Thursday's auction and offered to sell 201,000 dollars. The Iraqi Central Bank bought the entire amount at 1,275 per Iraqi dinar.
Ali al-Yasseri, a trader at the auction, told VOI "offers to sell dollars were due to the low exchange rate in the local market."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.
SH/TP

IRAQ NEWS
Troops seize chemicals in Baghdad
3 Hour,22 minutes Ago




BAGHDAD: Hundreds of Iraqi and US troops have pushed into troubled areas of western Baghdad, arresting 31 suspects and impounding containers of nitric acid and chlorine, the US military said Thursday.



Around 1,100 US soldiers and 500 Iraqi troops swept into the Mansur district on Wednesday, conducting house to house searches in what the military said was a bid to clear the area of Al-Qaeda and militiamen.

Iraqi forces detained 20 suspects and US troops another 11, while two weapons caches were seized with containers of nitric acid and chlorine, the military said in a statement.

Iraq reconstruction to cost $100bn
Iraq: 3 hours, 31 minutes ago
The cost of rebuilding key Iraqi infrastructure, including power and water plants, following the US led invasion of 2003 and the subsequent insurgency is now estimated at around $100bn according to a senior US army official cited by the Dow Jones newswires. The hike in the cost of materials such as steel and cement has pushed up expenditure as has the need to rebuild sites bombed by insurgents.

Middle_East
U.S. Says It Nabs Iraq Insurgent Leaders
By HAMZA HENDAWI, The Associated Press
Mar 22, 2007 5:02 AM (1 hr ago)
Current rank: # 534 of 24,235

BAGHDAD - The U.S. military said Thursday it had captured the leaders of a Shiite insurgent network responsible for kidnapping and killing five American troops - one of the boldest and most sophisticated attacks on U.S. soldiers in the war in Iraq.


The statement said the arrests took place over the past three days in the cities of Basra and Hillah south of Baghdad. The military said the network was led by Qais Khazali and his brother Laith Khazali. Several other members of the network also were captured.

The network was "directly connected" to the January kidnapping and murder of the Americans in the holy city of Karbala, 50 miles south of Baghdad, the military said.

In the Jan. 20 attack, gunmen speaking English, wearing U.S. military uniforms and carrying American weapons abducted four U.S. soldiers at Karbala's provincial headquarters and later shot them to death. A fifth soldier was killed in the attack.

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.

Nice find.

INTERNATIONAL NEWS
Iraq promises favorable terms to draw foreign investment
3 Hour,58 minutes Ago




ANKARA - Visiting Iraqi Deputy Planning Minister Faik Abdul Rasool said on Wednesday foreign investors in Iraq would be exempted from all taxes and customs for 10 or 15years on the condition that they have Iraqi shareholders.



Rasool made the remarks at the Turkish-Iraqi Business Council meeting in Istanbul, Turkey's largest city, noting that the privilege would be applicable to foreign investors in all sectors except those of oil, banking and insurance, Turkey's semi-official Anatolia news agency reported.

Iraq is open to foreign investors, especially in such fields of infrastructure, Rasool said, noting that the country needs 18billion U.S. dollars for infrastructure for the next 5 years as 1.5 million houses are to be built in the war-torn country.

A National Investment Commission, which is directly connected with the Prime Ministry was newly established to facilitate a rapid and effective decision-making process so that all procedures can be completed within 4-5 days, Rasool said.

Trade relation between Turkey and Iraq still has great room for improvement, as bilateral trade volume dropped from 7 billion dollars in 2004 to 2.8 billion in 2006, the report quoted Turkish-Iraqi Business Council Deputy Chairman Mehmet Habbab as saying.

Originally Posted by PAn8tv

INTERNATIONAL NEWS
Iraq promises favorable terms to draw foreign investment
3 Hour,58 minutes Ago




ANKARA - Visiting Iraqi Deputy Planning Minister Faik Abdul Rasool said on Wednesday foreign investors in Iraq would be exempted from all taxes and customs for 10 or 15years on the condition that they have Iraqi shareholders.



Rasool made the remarks at the Turkish-Iraqi Business Council meeting in Istanbul, Turkey's largest city, noting that the privilege would be applicable to foreign investors in all sectors except those of oil, banking and insurance, Turkey's semi-official Anatolia news agency reported.

Iraq is open to foreign investors, especially in such fields of infrastructure, Rasool said, noting that the country needs 18billion U.S. dollars for infrastructure for the next 5 years as 1.5 million houses are to be built in the war-torn country.

A National Investment Commission, which is directly connected with the Prime Ministry was newly established to facilitate a rapid and effective decision-making process so that all procedures can be completed within 4-5 days, Rasool said.

Trade relation between Turkey and Iraq still has great room for improvement, as bilateral trade volume dropped from 7 billion dollars in 2004 to 2.8 billion in 2006, the report quoted Turkish-Iraqi Business Council Deputy Chairman Mehmet Habbab as saying.

Just to be clear is he saying the tax law will not apply to those foreign investors holding shares in these sectors or is he saying these sectors will not be allowed to be bought by foreign investors?? Thanks for the article

in the light of the mechanisms of foreign investments in the Iraqi Stock Exchange .. انتعاش طموح في سوق الأوراق الماليةAn ambitious recovery in the stock market




حسام الساموكHossam Alsamuk
في اعقاب اعلان هيئة الاوراق المالية اعتماد آليات ضامنة لتداول المستثمرين العرب والاجانب في سوق العراق للاوراق المالية شهدت جلسة يوم امس الاثنين 19 / 3 / 2007 انتعاشاً واضحاً ولافتاً للنظر في اسعار الاسهم المتداولة أثار ارتياح المستثمرين المتطلعين إلى عودة القيمة السوقية لمجمل اسهم الشركات التي انخفضت حسب البيانات الموثقة إلى نسب هائلة وصلت في بعضها إلى 99% من اقيامها المتداولة.Following the announcement of the securities securing the adoption of mechanisms for the circulation of Arab and foreign investors in the Iraq market for securities witnessed a day yesterday, Monday, March 19, 2007 remarkable recovery and remarkable to consider the prices of shares traded effects pleased investors aspirants to the return of the overall market value of shares in companies declined as documented statements to immense proportions reached in some 99% of the Agyamha traded.

ويرى متابعو حركة السوق ان عودة الحياة إلى تداولات البورصة العراقية ستحقق بالضرورة انطلاقة جديدة لهذا المرفق في الساحة الاقتصادية، فيما تتواصل اجراءات استكمال مشروعات على هامش هذه الانطلاقة ومنها اعتماد التداول الالكتروني ومغادرة الآليات البدائية في جلسات التداول، فضلاً عن انهماك اجهزة شتى بالتهيؤ لاستقبال المستجد بالغ الأهمية في نشاط تداولات الأسهم، المتمثل بقدوم استثمارات عربية وعالمية، لتغدو جلسات البورصة العراقية موضع تداولات ومتابعات اسواق العالم المالية واهتمامات الجهات الاستثمارية المختلفة، بما يحقق حضوراً فاعلاً لانماط المعنيين بحركة الاستثمارات في الأسهم.The Follow-Up on the market movement, the return of life to the Iraqi transactions related bourse would necessarily a new start for this facility in the economic arena, with the completion of projects continue action on the sidelines of this event, including the adoption of electronic trading and leave the primitive mechanisms in the deliberative sessions, as well as the absorption of various preparedness to receive a very important role in the emerging activity transactions related shares, of the arrival of Arab and international investments, to become the subject of the Iraqi stock exchange transactions related rebounds and the world's financial markets and the interests of the investment so as to achieve a negative effect on the movement patterns of the equity investment.
وسجل نشاط جلسة أمس الاثنين اقبالاً واضحاً ونشطاً على مختلف القطاعات بشكل خاص الاندفاع الكبير لاقتناء اسهم المصارف، ليسجل مصرف الشرق الاوسط وبغداد ارتفاعاً مشجعاً تجاوز حاجز العشرة بالمئة، فيما تجري استعدادات في اوساط السوق لانبثاق رابطة تجمع المستثمرين العراقيين بغية التعاطي مع مستجدات قدوم الاستثمارات الاجنبية ومتطلبات ترصين قوة السهم العراقي وتعزيز قيمته السوقية.The record activity meeting yesterday, Monday, the demand is clear and active in various sectors, in particular the big rush to buy shares of banks, the Bank recorded the Middle East and Baghdad rose encouraging overcome the barrier of ten%, while preparations are under way in the market for the resurrection link Iraqi investors in order to deal with the developments of foreign investment inflows and the requirements of their importance Force arrow Iraqi and strengthen its market value. في هذه الاثناء يترقب مئات المستثمرين ان يعزز اجراء دخول المستثمرين العرب والاجانب تداولات السوق فعالية البورصة العراقية ويسهم في عودة أكيدة لمرحلة انتعاش سوق الأسهم بما يدعم أداء المشروعات الانتاجية بشتى قطاعاتها..In the meantime, hundreds of investors waiting to promote a entry of Arab and foreign investors acquired the Iraqi Stock Exchange market effectiveness and contribute to the definitive return to the stage of the recovery of the stock market to support the performance of productive projects in various sectors ..

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 $) 201.000 -----



Gooooooooooooood Morning RolClub


"The More They Take, The More We Make"


Hello everyone. I have been away on a short vacation. WENT FISHIN' Caught a boatload of sand bass, some trout, and some small mouth bass. Had a great time, hard to be at work and just trying to catch up on all the news. WE ARE PAST 7 TRILLION DINARS. How LOW can they go. The numbers posted are a culmination of the last four auctions. Hope you all are well. Learned a new catch all phrase while we were down in the VERY RURAL southeast part of Oklahoma. "I'll tell you what!" You have to say that before every bit of information you are going to pass on, or you can just say it as a conversation starter. You have to really drag out the "tell" and the "what" part. Put the whole phrase in a sort of southern redneck drawl and you get the picture. It was fun, a beautiful part of our country.



1. "0" Dinar rate change today, it was 1277, it is now 1277

2. A (net) worth of dinars, IQD - 371,266,041,000 pulled out of circulation from Sunday 3/18/07 to today 3/22/07.

3. 17 banks participating today

4. 107th auction since the beginning of CBI's reval plan

5. 173 days into the CBI's reval plan.

6. 7,146,856,071,000 dinars pulled from circulation !!

7. 256,275,000 Dinars back into circulation today

8. 200 dinar change since Oct 1st (baseline was 1477) 13.540% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1277 so far this week.

10. 3 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1277
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.