Thread: Iraq/Dinar News. 09/05 to 01/14/07

Just posted on Noozz.com | IRAQ -

Kuwait, Iraqi & Kurdistan Cooperate in Developing Oil Fields
Iraqi and Kuwaiti officials plan to secure an agreement of cooperation in the next few months, allowing Kuwait to help Iraq develop its oil fields, according to local media reports...

Originally Posted by Dinar Duchess

What part of the CBI site did you get this from, I cant find it anywhere

Under publications.

Originally Posted by Dinar Duchess

do you know whether you need an account at Halifax and Nat west in order to change the dinars.

I have read in another forum that it is possible that they may tier a reval what are everyones thoughts on that. I have always thought that maybe a low reval would just encourage more speculators, but one thing that concerns me is if they call in say the 25K notes as well. Of course the only people that will affect in a big way is us, unless we can get it to our bank accounts. Personally I would not want to cash in on a low reval, I would want to wait for the next few tiers particularly as half my dinars are 25K notes. I hope this is not the case of course, just my thoughts

I have an account with the Halifax but I don't think you need one to exchange. Once the dinar is revalued more and more places will exchange them so we'll be able to shop around and get the best deal.

Sure in time the 25k notes will be withdrawn, probably over a 6 month period and a tiered r/v is possible but I doubt it. You'll always be able to exchange the bigger notes for smaller notes without cashing them in.

We just need to get this moving asap!, from the CBI article above I don't see a small r/v, just my thoughts......

Originally Posted by CharmedPiper

I found and posted an article yesterday but I keep thinking about something in this article and would like opinion of others.

It has announced the Iraqi Interior Ministry said four people were killed and 15 others were injured Saturday morning when a suicide bomber detonated an explosive charge he was carrying in a bus downtown Baghdad.

The photographer said Agence France Presse at the scene said the passengers, mostly women and children who were returning to their homes after it bought clothes and toys in preparation for the upcoming Eid al-Fitr. And scattered inside bags torn clothes, games at the site of the accident near the wreckage of the bus.

Sotaliraq.com

This is what has me wondering...if they were shopping for the holiday, and assuming they had received their 10,000 "gift" they still would not be able to buy all these items on 10,000 unless it was already revalued...not to mention this occured in Baghdad which is poverty area so the possibility that this was a wealthier Iraqi would be less likely. Just wondering what everyone else's thoughts were.

I agree. Apparently the same type of buying is going on in other parts of Iraq as well. It does make you wonder how this is happening.

Originally Posted by fsndirector

I agree. Apparently the same type of buying is going on in other parts of Iraq as well. It does make you wonder how this is happening.

Do you think everyone has zero dinar unless they receive the 10,000 dinar and a reval. Geez

Originally Posted by Adster

Feeling good folks. Know we had no r/v so far and some will be disappointed but let's look at the facts below (with the exception of Dan's rumour).

Saudi article above, which I believe will lead to debt forgiveness if it's not already been done this weekend.....

Kuwait too as above......

Bush threatening to send his own boys in to kickstart the economy, hhmmm, what could he mean by that........

Oil Law HAS to be passed by end of the year as per IMF's agreement.......

We know the FIL WILL be enacted within a month, (passed back on 10 Oct) so we're looking around the 7/11...........

I know it's rumour and I know Dan is a dinar dealer but there was a mention of lower denoms going into the banks......not 'dissing him' the lower denoms are the key, would love to hear more on this....

We know that the current rate is an artificial rate..........

We know that they're banging out around 2.86MBP at $57 per barrel. This is more at a higher price than when their exchange rate was around $1.60.........

We know the old rate was around $3 per dinar.........

We know the world with the exception of Iran wants success from Iraq.......

We know the US Treasury has billions of dinars...........

What have I missed?! Feel free to add....

We're closer than ever, it has to happen.......

We know we will be rich........

Unless it's been solved and I don't know it, the CBI site / auction mystery from last week

Voices of Iraq : Day-Exchange (achieve) On Sunday, October 22, 2006-11:28 AM BT
Iraqis : market holidays in either recession or facing price hikes
Dargham of Mohamed Ali al-Hamad Zahi
Baghdad - (Voices of Iraq)
..Baghdad markets are not usual in the days of the holidays a few years ago and severely crowded Krnvala of happiness and joy. .Some markets are suffering from stagnation and inertia, the other witness a remarkable increase in prices.
.Thus describes the Iraqis if the market one day before the blessed Eid al-Fitr.
."Says Alhaji Ahmed Amri owner of a fashion News Agency (Voices of Iraq) Independent "that the demand for men's fashion is not up to the holiday, not even close to where the purchase is very weak and the goods are limited to the import of old, not new models."
."He said Taqi Albldawi owner of a clothing other times that work for us is limited because of the security situation which does not exceed (5) hours in the best conditions at the time were more than (15) hours in the last few years. "
."While Mr. Adib yellow wholesaler "that the transportation costs are high because of the risks faced by the drivers of vehicles in addition to the lack of insurance on goods coming which makes imported goods beaten calculated risk others in addition to the recession experienced by the local market and the weak demand by buyers escape d therefore importer of clothing will be limited Balasteradat does not compare to previous years. "
The Albaoui owner of a children's clothing said the sale of the votes of Iraq "in all local goods is a relic of the past year, which was not successful enough in the sale," and added "I will work to liquidate before the season change without buying more at the present time."
."The shoe shops are not the best state of clothing stores, where he Mushtaq Kadhim owner of a shoe "that the average sales to exceed (25) sets of shoes per day at a time when the increase in the quantities sold on the (300) set daily Therefore, we did not Ntsouk cargo new, but we are working to sell the goods accumulated in Mahlatna."
.Hassanein said that Karim was purchased new clothes for the same occasion, but he bought for his children to the joy of Eid Ayhermanm although it is not going to come out of his home as he told us in the feast.
.Others argue that the market is witnessing a remarkable increase, especially in household items, which is the high prices constitutes a burden on the Iraqi family.
.Abu Ali al-Hajj says "Perhaps the rapid deterioration of security in some parts of Iraq, especially the capital Baghdad, which is considered the main shopping center is the direct reason behind the price increases caused by the reluctance of traders to go to these areas and to provide the local market in various materials, which contributed to the high prices.
."He said Mr. Ahmed Mahdi Ekeli (owner of a shop in the market Alcheorgh) "rapid deterioration of security in Iraq and the dangers of the road leading to Amman and Damascus is paid to the Iraqi merchant not to go to the neighboring countries to bring the goods."
."He added Ekeli "There are reasons that can not be overlooked is Matedi certainly result in higher wages for the transportation of the consumer to a double fold increase in the price of fuel considerably, which forced the Iraqi traders to refuel commercial markets, which have become ones due to the fuel crisis sustainable."
.A grant holidays granted by the Iraqi government to citizens and ordered distributed through agents materials Ethaaeeh additional reason for the price increase Moreover, the absence of the role of oversight entirely to the domestic market.
.The Iraqi government had given each individual the amount (10) of thousands of dinars and the ration card donated by the occasion.
."And Ms. Zainab Al-Alami (housewife), "The budget Mairehg some families is the rise in food prices, especially on children's clothing because of the high demand on them."


Looks to me like they got the 10K.

Cheers!
DayDream

http://archive.gulfnews.com/articles/06/10/20/10076065.html


Melbourne: Iraq hopes to complete a first round of contracts for oilfield development by the end of next year, Oil Minister Hussain Al Shahristani told Reuters yesterday.

He said Iraq, which holds the world's third-largest oil reserves, expected to start talks with international companies on oilfield development by the end of this year, once a draft hydrocarbon law was passed by parliament.
"It is difficult really to specify any time for these negotiations, but overall we expect to start discussions by the beginning of 2007 and most of the first round of contracts should be signed during that year," he said.

The draft law is currently before a cabinet energy committee.

"Many oil companies have already told us that they are willing to come and start discussions on possible means of co-operation even before the law is enacted," said Al Shahristani, who is in Australia for talks with ministers.

"We plan to do so after we prepare an oil policy, where we state which fields will be available for development first, and what kind of arrangements Iraq is interested in, defining the kind of contracts and terms that best serve Iraq's national interest."

Al Shahristani said there would be no special considerations for any specific companies, with revenues and economics to be key.

"Balanced regional development will also be considered very important as we want our oil to be a unifying force for the whole country," he said.

Quote:

.The Iraqi government had given each individual the amount (10) of thousands of dinars and the ration card donated by the occasion.


Hard to tell if that means in the past or not. To date, we do not have any other confirmation do we?

Seems if they had distributed the ration card and the check we wouldn't have to scour so hard and try to read between the lines.

But then again, scouring and reading between the lines is our life, LOL.

http://archive.gulfnews.com/business/Investment/10076530.html

Regional magnets for foreign direct investment
By Jasim Ali, Special to Gulf News



The World Investment Report 2006, issued by the World Conference on Trade and Development (UNCTAD), has depicted a rather positive picture of the developing countries at large, notably countries located in the Middle East.

Worldwide inflows of foreign direct investments (FDI) amounted to $916 billion, showing a rise of 29 per cent. The report attributed this phenomenal progress to three main factors, namely strong economic growth, global oil demand and an improved investment environment in the region.

Still, developing economies accounted for a hefty $334 billion or 35 per cent of total FDI inflows. Yet, the Middle East which includes the Gulf Cooperation Countries (GCC), accounted for $35 billion of total FDI inflows last year, thereby showing a growth of 85 per cent.

This is the best result achieved by any regional group. The UAE topped its fellow GCC states in the amount of inward FDI in 2005 by attracting a whopping $12 billion, showing growth of 43 per cent.

The UAE accounted for more than 34 per cent of total FDI to Middle East countries.

Saudi Arabia came second with FDI inflows of $4.6 billion in 2005, up from $1.9 billion in 2004. The extraordinary development reflects implementation of economic reforms ahead of joining the World Trade Organisation (WTO) in late 2005.

Qatar came third with FDI of nearly $1.5 billion. Bahrain occupied the fourth place with more than $1 billion of foreign investments, followed by Oman with $715 million and finally Kuwait with $250 million.

The report ranked the UAE No 15 worldwide on Inward FDI Performance Index in 2005, showing an advance of 10 positions. Not surprisingly, this marked the best result within the GCC. Likewise, Bahrain improved its ranking by 10 positions to occupy 22nd place worldwide.

The enhancement was made possible through steady economic reforms, which saw foreign firms gaining control of power plants and port management.

Qatar (54th), Oman (91st) and Saudi Arabia (110th) had a less convincing performance on the index. Still, Kuwait was ranked 132nd, one of the worst performances in the world amongst 141 nations covered in the rankings. Clearly, Kuwait needs to improve its business environment in order to entice international investors.

Potential forecast

Qatar topped regional countries by clinching the 10th place amongst 141 countries in the world on Inward Potential FDI Index. The index, which dates back to 2004, ranks countries on the basis of their ability to attract fresh investments based on 12 economic and policy variables. Qatar achieved the same outstanding ranking in the earlier report.

The UAE was ranked 27th, thereby losing four positions in a span of one year. Bahrain occupied 30th position. Saudi Arabia lost four rankings and therefore ranked 35th worldwide. Similarly, Kuwait lost two positions, hence ranked 42nd. Finally, Oman lost three positions and therefore ranked 57th, in turn the worst position within the GCC.

The 2006 report focused on FDI from developing and transition economies, noting growing appreciation amongst these countries to invest abroad. Global FDI outflows amounted to $779 billion (figure is different from inward FDI due to collecting and reporting methods of countries).

Services notably telecommunications, financial services and real estate made substantial gains. But the sharpest rise occurred in natural resources, a reflection of firm prices of oil and gas.

The results suggest that other countries are leaping further ahead in amending their business laws and worker productivity in order to attract foreign investments. This reflects growing appreciation of the role of FDI in helping address local economic challenges.

The writer is head of the Economic Research Unit, University of Bahrain.

JUST WAIT TIL IRAQ JUMPS IN THE MIX. PERCENTAGE GROWTH SHOULD INCREASE SIGNIFICANTLY!