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

Baghdad Bourse welcoming foreign investors
The mediators are studying new measures
Translated by IRAQdirectory.com - [26/03/2007]

50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.

Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.

The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.

The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.

The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.

The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3489

Don't you just see GCC when you read that headline?? I love it when people think ahead...

Iraqi Stock Exchange joining International Federation of Bourses
After its participation in the establishment of the Union of Arab Stock Exchanges
Translated by IRAQdirectory.com - [26/03/2007]


It is expected that Iraqi market for securities will witness important developments during the coming period, when it is hoped that it will join the International Federation of Bourses, as well as completing rules and procedures of circulation for the non-Iraqi, Arabs and foreigners, after the government agreed to that, and authorized the concerned bodies to prepare instructions in this regard. Also, the market continued to take measures to complete the project of electronic transaction and central depository, since it means achieving connectivity with Arab and international stock exchanges and guarantees the continuity of mutual investment and stock circulation.

This was emphasized by the Executive Director of the Iraqi market for securities, Taha Ahmed Abdul Salam, explaining that the Iraqi Stock Exchange has participated earlier this year in the establishment of the Arab Union of Stock Exchanges through the Iraqi Securities Association; also, joining the market to the Union of Asian Bourses was done early last year, and the stage of training on the use of electronic circulation system has been completed, and is continually installing devices and equipment for the direct application of this system and transfer the investors’ files from the participating companies to the deposit center, which will help in dealing with everyday problems of the work in the Stock Exchange and speed up the circulation of shares, as well as encourage investors to train and move to electronic trading and accept the inclusion of new companies in the market; in addition to the expansion of investment through signing agreements with the concerned bodies in Kurdistan to open a hall for securities circulation there, electronically connected with the Iraqi market in Baghdad, as well as studying a similar step for opening of a circulation hall in Basrah.
It is noteworthy that the Iraqi market for securities implemented during 2006 93 circulation sessions at the rate of two sessions per week, during which 58 billion shares were circulated, worth 146 billion dinars.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3490

Do NOT underestimate the importance of stories like this, lest we miss the forest for the trees. People who move about freely, who visit parks with their children, who go out and buy flowers for their homes are less likely to go blow themselves up. (look back to my post a few days ago to get a link to some pictures of Iraqi families at a park...very nice, and normal. An Iraqi person took them and posted them on an expat forum...

Baghdad meets spring with rose colors
Al-Sabah - [26/03/2007]

Baghdad security plan has moved dust out of Baghdad gardens and streets' face , and cuttings trade refreshed again in capital's nurseries which were neglect and desolate after being deserted by Baghdad residents due to fear.

Baghdad residents are known with their love and fondness with colorful adornment plants care. No single house in Baghdad has no flowers and even small houses and apartments have flowers in form of a paint or a hanging a carpet have a flower image.Owners of nurseries say that cuttings have other uses such as medical treatment and make up usages. They say that some cuttings sell with high prices and could reach one million dinars each for some kinds.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3495

Originally Posted by harrisomi

I keep coming back to the idea that a major, or even a minor revaluation of the dinar, would do a tremendous amount to shift the attitude about living or dying. Life is good when there is money in your pocket, a roof over your head, food on your table, and those that you love living securely.

Though it is often thought that a war time economy is a good economy, the real truth is, peace brings greater prosperity than war. Or, in this case, prosperity could bring the peace.

Yes, there will always be that tiny fraction of people, who will always wish to vent some supposed injustice about some imagined offense against someone they think has it better than them, but for the majority of people who wish no more than the real oppoortunity to live in peace, to love their family, to prosper for those they love, and to eventually leave this life thought of well by their community, peace, or living peacefully, is the key to their prosperity, and they know it.

A revalution of the dinar, could settle a lot of issues in a short time, for the greatest majority. One simple step, with great huge impact. Think of it!!

wishing us all success( and especially the Iraqi people)

harrisomi

This is exactly what many of us have believed for a long time and still do. Unfortunaterly Shabibi and the boys haven't opened their eyes to the benefit of this yet. Economics will be the juggernaut that crushes the terrorists.

Some more "forrest" stuff...nothing to do with dinar and everything to do with Iraqi life...thought y'all might be interested....as far as I've seen, the video clips are in English.

March 2007Dear all,

Chat the Planet is pleased announce that our documentary web series about life in Baghdad is live online and currently featured on Salon.com. It tells the stories of three young Iraqis in Baghdad and was shot entirely by Iraqi filmmakers. Our brave Iraqi crew risked their lives to share these stories and now we need your help to make sure the world hears them.
You can help by::: Watching the videos on our blog:: Passing this along to your friends (every click counts):: Favorite and comment on our videos on Youtubehttp://origin.ih.constantcontact.com...=1101592371229 Our Videos

We have a blog at Hometown Baghdad where we feature the videos and where our cast and crew have a tendency to leave comments for other viewers. Please watch the videos here and check back regularly. If you're going to link to us on one of your websites, this is the best site to link to.
http://origin.ih.constantcontact.com...=1101592371229 Pass this along to your friends
Our goal is to have the world hear these stories so please forward this on to everyone you know. This is something that you could do on the fourth anniversary of the war to spread the message of tolerance and understanding.
http://origin.ih.constantcontact.com...=1101592371229 Favorite & Comment on the series on Youtube

Youtube will begin featuring our Hometown Baghdad series this week on both the News & Editorial Category and the Music Category (for Songs of Pain). You can also subscribe to our video podcast on itunes. Check it out, as we update the series with a new release every Monday, Wednesday and Friday. YouTube - Broadcast Yourself. h
http://origin.ih.constantcontact.com...592371229Press & Contacts
To see our press release, go to "HOMETOWN BAGHDAD" TO DEBUT ON SALON.
To get in contact with us, email us at [email protected].

Hometown Baghdad - aliraqi Community

can anybody tell me where i can see a print of the final invesment law

The Iraqi economy needs to be radically reformed speed

To catch up with the evolution of world economies

Baghdad Hassan spring

The specialists economists that growth rates in the revival of the Iraqi economy and the reform should be redoubled in order to accelerate and reduce the intervals of time that separate it from the ranks of the economies of other countries, which witnessed growth rates, which are rising dramatically.
He explained Dr. Ismail Hammadi Ebeid, an economist known that the simple rates of growth taking place in the Iraqi economy are inadequate compared to those taking place in the economies of other countries and to live up to its level Massafha.
And planners say-by-Hammadi into this situation and try to look for ways and quick solutions to activate different sectors of the economy and legislating laws consistent with the stage and circumstances and ensure the achievement of those rates.
If we fail to do so would not constitute a simple growth rates ranging from 3% to 7% of any refunds important to the economy is suffering from a state of stagnation and decline, languishing in the lower grades and all sectors complain of neglect.
The vitality of the world economies are usually measured through the growth rates achieved and this is a sign of vitality and activity Take for example, growth rates achieved by the Chinese economy which is one of the world economies more dynamic and vibrant though it is a state-oil.
We must benefit from the experience of the world in this area, especially those with similar circumstances and the nature of economics with the current circumstances in Iraq and the nature of its economy.
For that to be hiring specialists in this area are assigned in collaboration with the Ministry of Planning developed only for the advancement of various economic sectors in order to activate their performance and remove them from their present situation.
Hammadi reiterated :
We must focus on the sectors as a top priority to the agricultural sector and help him through the required support materials such as fertilizers, seeds, machinery and methods of modern agriculture and the industrial sector are paying attention through the creation of the means to promote national industries, as well as task comes the role of other important sectors, including the private banking and oil, electricity and the services sector, and steps to integrate Tnjsm directions and show the real picture of the Iraqi economy faltering tracks.
He went on to say ..
Therefore, I stress in this area on the need to develop annual plans and the other five and then in order to achieve far-reaching results reflected directly on the situation of the Iraqi economy and should be encouraged investment operations at the local level or the national mean space.
He concluded by saying :
True to the development of economic sectors depends on the improvement of security conditions but we have to take advantage of the conditions of the safe areas and the start of reforms and accurate statistics and Mapping new economic and improve the living situation, we surrender to the principle of non-absorbed as the next great tasks and overcome mean redouble efforts and long-burning stages.

Translated version of http://www.alsabaah.com/paper.php?source=akbar&mlf=interpage&sid=36228

Cheers!
DayDream

Demand for all kind of goods in Northern Kurdistan region is becoming a boom

There is a clear increase of trade of industrial and consumer products that are now beginning to flood into Iraq, and especially the Northern Kurdistan region.

Spokesman for the Iraqi Busines Council, Anwar Rashid said that demand for all kinds of goods is becoming a "boom". We are being contacted by so many business people, including Iraqi expats and international companies wanting to know about agencies and what kind of agencies are available, he said in an interview for BI-ME.

"Right now most people want to go to Northern Iraq," said Rashid, "and the Council has been instrumental in helping all kinds of traders and educational institutions to set up a very good base in the North."

He commented that major global companies like Siemens, Universal, LG as well as smaller companies from India, China or Korea, were moving in to supply all kinds of materials and heavy equipment necessary for the rebuilding of Iraq. The world is open to Iraq now, to the North and the South. Goods are getting in, mainly through the port of Basra and then trucked North, or across the Turkish border into the North. But the current situation means that there are periodic shortages of trucks and delayed cargo, said Rashid.

"From the Turkish border to Sulaimaniya, you would see a line of trucks into thousands, strecthing for 15 kilometres," said Rashid. Although, as a GATT signatory country, and soon to be WTO member, Iraq does not practice the exclusive agency system, important representation deals are being assigned now for all types of goods such as industrial and construction equipment, cars, arms, munitions, IT and security equipment, said Rashid.

He added that Baghdad was the only Province where construction activity is still not possible, due to the violence, and there is not much lifting equipment or cranes going into Baghdad. "The private sector is not yet as active as it should be," said Rashid. "But it is increasing. The plan is to build townships and there is a need for thousands of residential quarters."

Strategy Garden

Iraqi government update on debt negotiations


Following the 6 month extension of the IMF's Standby Agreement with Iraq, it has published the formal documents presented by the Iraqi Minister of Finance and Central Bank Governor outlining their progress and intentions as regards economic policy. The documents, dated February 23, 2007, include this statement on debt: "Negotiations with China are underway, and contacts have been made with key creditor countries from the Gulf region. A number of non-Paris Club bilateral creditors have indicated a desire to securitize their claims. We will facilitate the development of a Special Purpose Vehicle (SPV), in order to encourage the conclusion of bilateral agreements with non-Paris Club creditors, according to the terms and conditions of the Paris Club agreement, and to avoid the emergence of a multiplicity of different securitizations. In this regard, we will keep the Paris Club fully informed. Most of the remaining unresolved private claims (which are only 4 percent of the original claims) are in the process of reconciliation with claims that are being settled as part of the liquidation of the London branch of Rafidain bank."

Jubilee Iraq News

CBE : IMF does not put pressure on monetary policy بغدادBaghdad
نفى.Mahaft denied the Iraqi Central Bank Sinan Shabibi be tight monetary policy, pursued by the "Central", as a result of pressure by the International Monetary Fund, pointed out that the policy falls within the framework of the central monetary reforms currently taking place in Iraq. He explained that the policy of the Central Shabibi adopted as a result of the hard conditions experienced by the Iraqi economy, and concern hyper-inflation, which causes substantial damage to the economy, the monetary impact on the value of the contracts, withdraw negatively on the estimates relating to the budget. ولفت.He pointed out that the policy of "Central" aims to achieve price stability, using monetary tools, the lifting of the dinar rate of exchange against foreign currencies, raising interest rates, which would lead to a reasonable indicators of inflation, which has become a threat to the country's economy and development. Linking Shabibi success of this policy stability extent to which the consumer price through the Department of liquidity. He praised the state balancing of the current year, in terms of allocation and disbursement and the dimensions of development and investment, warned at the same time of economic imbalances that accompany a spending budget. Shabibi called to the need for a mechanism to monitor the implementation of the budget, in particular the investment side of it, pointing out the need for the ministries financial ceiling allotted in the budget. صادIn the area of economic reforms, called Shabibi to activate the productive sectors and increase their growth rates, to meet local market demand, provided that it does not result in an imbalance in the economy
جريدة المواطن العراقية