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

Originally Posted by Onenomad

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

He's not talking about shares, he's talking about direct investment in Iraq. Foreign banks, oil companies, insurance companies do not qualify for the tax break. Other foreign companies/operations will be exempt IF there are Iraqis who own shares in their companies. This will encourage foreign companies to list on the ISX and/or hire Iraqi firms to provide local shareholders.

Jean

Originally Posted by Socata 850

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.

Nice to have you back. I truly enjoy your daily updates. Please keep them coming.

Rocket hits near U.N. chief in Baghdad

An Associated Press reporter who ran outside saw a 3-foot-wide crater about 50 yards from the building where the news conference was in progress in Baghdad's Green Zone, which also houses the U.S. Embassy. Two cars were damaged.
Security officials for Prime Minister Nouri al-Maliki said it was a rocket attack.
Small chips of debris floated down from the ceiling above the U.N. chief after the explosion rattled the building. Ban looked frightened, casting his eyes right and left as he rose after ducking below the podium where he was standing and answering questions.
Al-Maliki said "Nothing's wrong," as one of his security men started to grab the prime minister, and both men resumed their news conference within minutes. They ended the question and answer session shortly thereafter.
The sound of a weapon being fired — which sounded like a rocket launch — could be heard not far from the AP office, which is across the Tigris River east of the Green Zone

Rocket hits near U.N. chief in Baghdad - Yahoo! News

Check out the actual video of the sound of the missle hitting outside.

Iraq Kurdish Government To Publish Details Of 5 Oil Deals Soon Min LONDON -(Dow Jones)- The semi-autonomous Kurdish regional government in northern Iraq plans to publish details of the five existing oil contracts it has with foreign companies soon in a move to boost public confidence in the deals, Kurdish Regional Government Minister of Natural Resources Ashti Hawrami told reporters in London Thursday.

"We will publish the contracts so people can see we have nothing to hide," Hawrami said, adding: "People want to frighten the Iraqi people that their oil will be taken by foreign oil companies. This is simply not the case."
Hawrami said the giant Kirkuk oil field in the north, one of Iraq's biggest reservoirs, will remain under the management of the federal government irrespective of the outcome of the planned referendum this year that will determine whether Kirkuk becomes administered by the Kurdish government.

"The Kirkuk oil will stay with the federal government, as all existing oil fields will, whatever the outcome of the referendum there," Hawrami said.
The final status of Kirkuk has unnerved Turkey and other neighboring countries with their own Kurdish populations. These countries fear that a Kurdish victory in Kirkuk will leave the Kurds economically empowered enough - because of the area's oil wealth - to declare formal independence although the Kurds say this step won't be taken.

Hawrami, who was in London to speak to investors and the press on the status of Iraq's delayed oil law, said the Kurdish and federal government were examining the possibility of building a new pipeline to transport oil from Kirkuk through the relatively safe Kurdish region of Iraq into Turkey.
The existing Kirkuk-to-Turkey pipeline is routinely bombed by insurgents and local thugs, severely curtailing oil flows from the north.

Hawrami said foreign investors may be brought in to finance the pipeline, which regularly exported around 800,000 barrels a day before the U.S.-led invasion in 2003.

The minister, who has been in his position since June, said the Kurdish government was poised to move forward and sign contracts with foreign oil companies even if the federal hydrocarbons law has not become law.

"We will go to our plan B which is to carry on," he said.

The Kurdish government was ready to sign several exploration contracts with foreign firms, he said.

"I have six or seven contracts on my desk waiting to be signed," he said.
Hawrami, however, said he was confident that the federal government and Iraq's different religious groups will be able to achieve an agreement that can be approved by Iraq's parliament in May.

http://www.nasdaq.com/aspxcontent/Ne...ternational.na

Originally Posted by yardbird

What a great find Lunar!!

Thanx....I'm impressed that they're finally starting to show some 'International' progress.

Originally Posted by michael16

Nice find.

Thanx Michael...here's hoping they go International with their currency soon.

It is very interesting to see that over 7 trillion dinars have been purchased by the CBI...but I wonder what percentage of that 7 trillion has been re-cycled back into the economy. I guess we will never know.

Originally Posted by danny51

It is very interesting to see that over 7 trillion dinars have been purchased by the CBI...but I wonder what percentage of that 7 trillion has been re-cycled back into the economy. I guess we will never know.

if you go to the cbi and look at the auction history you can go back over the last 3 years. I am guessing that more is going out then most want to believe. Just my take on things

Thanks Adster
Nice Read

Guys,

For those in the US and Canada and elsewhere it might be an idea to get a group of you together and look to shop around to get the best rate post reval. You will get a much better deal and save money. The banks will negotiate a better rate if you'll have millions and millions to exchange.

Worth thinking about at this stage. Security too, do not leave money around the house once the word gets out about your new found wealth. Fix a safe or pay straight into a bank etc.