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

Pardon moi, if already posted

government committee drafting a new law to resolve the politically charged question of distributing Iraq's oil wealth has made significant progress, the panel's chairman said Saturday.

The distribution of oil revenues, the mainstay of Iraq's economy, is at the heart of some of Iraq's most contentious political issues at present, including the push by Shiite leaders to allow the oil-rich south of Iraq to set up a self-rule region a similar to a Kurdish one in the north.

We have reached important agreements. I cannot put a timeframe on when it will be ready, but we are very keen on achieving that as soon as possible," Deputy Prime Minister Barham Saleh, a Kurd who chairs the committee, said. "We hope that we will reach a comprehensive agreement that will enhance the oil sector and make oil a unifying factor to all Iraqis."


He said, however, that key issues still need to be resolved, including "the administration of the oil sector, deals and contracts."

"We hope to reach an agreement that will please all parties," he said.

Underlining the sensitivities involved, Nechirvan Barzani, the Kurdish region's prime minister, said Thursday that talks he held with the Baghdad government this month failed to produce an agreement on his demands for control of oil resources in the region.

"We demand that the signing of contracts to develop oil fields in Kurdistan should be handled by the Kurdistan region," he said, according to Dow Jones Newswires.

Iraq is believed to producing around 2.2 million barrels of oil a day and exports about 1.5 million, well below prewar levels. Insurgent attacks have frequently targeted oil facilities and pipelines, disrupting exports and disrupting efforts to modernize the industry.

A report by a high profile bipartisan U.S. commission released Wednesday recommended that the U.S. government work with the Iraqis to come up with a clear, legal framework for oil investment as soon as possible. It also suggested that the U.S. military work with Iraqi and private security forces to protect oil facilities.

Also speaking to the AP, Oil Ministry Spokesman Assem Jihad said the government hoped that the new law, which has to be approved by the Cabinet and parliament before it comes into force, was partially designed to encourage foreign investment in the oil sector, whose woes began with the imposition of sweeping U.N. sanctions on Iraq following its 1990 invasion of Kuwait.

A boost in Iraq's oil exports could provide a much desired shot in the arm for the country's ailing economy. The Iraq Study Group report said put inflation in Iraq at around 50 percent and unemployment at between 20 percent to 60 percent.

Iraqi committee makes progress in drafting new oil law | Iraq Updates

Years of sabotage, corruption and neglect have left Iraq's oil industry struggling. Some analysts estimate it needs $20 billion in new investment to get back on track. Jeff Tyler reports.

BRIAN WATT: The Iraq Study Group gave Washington a lot to chew on yesterday. It also made a number of recommendations that relate to business. Primarily, the oil business. Iraq sits on one of the world largest petroleum reserves. So the natural resources are there, but right now the financial resources are not. What would it take to attract foreign businesses and investment in the oil industry? Marketplace's Jeff Tyler reports.

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JEFF TYLER: Security, obviously, is a big obstacle. Companies want to make sure their people and property are safe. But aside from that, businesses are also wary of Iraq because of legal insecurity.

Michael Lynch is president of the consulting firm Strategic Energy and Economic Research.

MICHAEL LYNCH: Investors really need to see a petroleum law implemented and in place so that the Energy Ministry can sign contracts, which they have some confidence will last for at least some period of time.

With viable laws to protect their investments, Lynch says some foreign firms would likely set-up shop.

LYNCH: There are always people willing to accept a degree of risk, especially the smaller companies and the national oil companies, compared to the big international majors.
Those major oil companies would remain on the sidelines, Lynch says, viewing smaller players like canaries in the coal mine.

If the small firms thrive, he says, the giant corporations would follow


Investing in Iraq's oil | Iraq Updates

Just a note: USA ranks 20th out 163 nations for least corrupt,
Australia 9th, UK 11th, Canada 14th, Mexico 70th , Haiti 163rd,
Finland is 1st (Sweden is 6th) sorry

Originally Posted by bigred52

Just a note: USA ranks 20th out 163 nations for least corrupt,
Australia 9th, UK 11th, Canada 14th, Mexico 70th , Haiti 163rd,
SWEDEN 1ST

It is interesting to note that the least corrupt country has the most liberal views on sex!! Finally a solution to corruption, hehehe.

Originally Posted by Socata 850

OZIZOZ

This time of year can be a drain on everyone . . .and I have come to believe that all driving laws are null and void within 1000 feet of a Starbucks . . .atleast here in Loz Angelez. Its been a long time since we had a good road rage shooting on the news, but we are way overdue just by looking at the world circling around me.

I am planning to spend atleast a million dollars on other people before I spend a dime on myself. I have a symbolic debt to repay my parents who brought me into this world and helped me so much along the way . . . Im going to pay off my brother's new house (cause I havent told him about this crazy scheme and Im not planning to) and set up college funds for my nephew and neice. I am going to light up a Hula Girl Cigar Vanilla Macademia Nut Cigar and just simply try to find the parts of me that died out along the way.

Knowing many many folks here, I am not alone in knowing that this will help millions of people here and abroad who havent even been on the rollercoaster with us . . .thats in our nature, to help those who need helping . . .including ourselves. This is a precious gift and awesome responsibilty we will all receive and each of us owes those who have fallen, troops and civilians, and the Iraqis themselves, to live the best life we can in their honor. This gift has been paid for in blood and I will never, EVER, take that for granted. With each new sunrise and sunset I see until I see no more, I will be humble



Ozizoz,

If I may, You can see that you have a good heart and that your best intentions are for the ones you love. Having a great influx of money is an unbelievable thing. Most of us, me included, want to share our good fortune with family and some friends. However, this opportunity will probably not come again in our lifetime. One of the best things that you can do for your family, for the present and into the distant future, is to preserve your capital. Take the money that you would give or spend on family and invest it so that you can continue to give and give and give out of the interest you make on the money. I have not posted this before, but my daughter works for Chase bank. Actually it is JP Morgan, Chase. They have some of the smartest money managers in the country. I have been in the loop on the Chase connection for quite some time. Talk to the local manager of a Chase bank and get him to refer you up the chain to the right people to handle the money. If it takes you all the way to New York, so be it. Believe me, they will be interested in handling your portfolio. For all of us that have not handled alot of money in the past, me included, I know enough that I realize what I don't know. What I do know, is that I want this investment to be a blessing to as many people as possible. I can only do that by letting the principal grow and giving out of the surplus. It will be better for all concerned in the long run. Your legacy can continue into the future for many many generations. As Yule Brenner said in the movie "The Ten Commandments"
"So let it be written, So let it be Done."

I agree with you both. We need to save and invest for our futures and our families futures. As for me and my husband, we realize that this money will have to last us for the rest of our lives, we will only work for ourselves. However, my mom and dad are getting older and I want them to enjoy as much as they can right now. That's what will bring me the greatest joy. So I have purchased dinar to be a great blessing to my family and friends in the "now" of things so that I can experience their joy and also have purchased enough to invest for the futures of those that I love and care about. I have been in the loop with BOA with some great investment ideas and they will be creating my investment portfolio. Miracles and Blessings to all and Happy Dinaring. GO RV!!!

Hello all, nothing new on the DSX linking to the ISX; I'll keep you posted.

V/R

Al from Doha

...and still no word on the 10K in dinars that was supposed to be distributed to every Iraqi family....

Well what do you know.....they finally get it. Read this article and I think they deserve a big RolClub WOOOOOT! for intervening and preventing a delay. Here is my WOOOOOOOOT!

Baghdad-Fatwa

Posted by: saleem on Sunday, December 10, 2006 - 08:34 PM

Baghdad-FatwaShiite cleric issues fatwa prohibiting parliament members from hajj this yearBy Kawthar Abudl-AmirBaghdad, Dec 10,

(VOI) – Shiite cleric Ayatollah Muhammad al-Ya'qoubi issued a fatwa prohibiting members of the Iraqi parliament from performing the annual hajj (pilgrimage) rituals this year to avoid delaying parliamentary sessions, a source from the cleric's office said on Sunday."

The Ayatollah's announcement came during a meeting with members from the Iraqi parliament in his office in the city of Najaf today as pilgrimage of members this year would cause a lack of quorum (half the members +one), which could harm the people's interests," Firas al-Kirbasi, the media coordinator of the Sheikh Ya'qoubi's office, told the independent news agency Voices of Iraq (VOI).Kirbasi explained that the members of parliament who plan to perform the hajj this year are 176, adding "most of them had already performed pilgrimage once or twice."Muslims have to perform pilgrimage, which one of the main five pillars of Islam, at least once in a lifetime.The Iraqi Parliament is composed of 275 members, which means that the number of members planning to make a hajj this year are more than half the legislators, which would consequently delay the sessions due to the incompletion of the legal quorum.Sheikh Ya'qoubi had criticized a one-month parliamentary recess last August for the members' summer vacation, on the grounds that the several issues that have to be debated by the members should not allow them to have an annual vacation.AE

Baghdad-Fatwa :: Aswat al Iraq :: Aswat al Iraq

Originally Posted by smcquiller1

As for me and my husband, we realize that this money will have to last us for the rest of our lives,. GO RV!!!

well you can always make some more investments, and become even richer.

i am sure some oil companies that you can buy stock from will do rather well once they start pumping out of iraq...

Saudi is starting to dry up you know, its gona be cheaper for people to pump oil out of iraq once the security is sorted, which will be good enough after revalue anyway...

why not keep going and become a billionaire?

my target is personally, 100M, which ill have by end of next year, as a worst case scenario, or even sooner if the dong happens b4 then and in total, my firtst real target is 100Billion (for charity use). im going to put 30million USD into dong. do the math on that, and its quite nice, even at a 1c reval (just to be safe!)

i wont give a cent to anyone else until ive reached my personal target, and im spending only 10% of any profits on the way, which includes even investment into my own business, and huge passion, music. this all means i can give a lot more over a 5 year period, do the job properly.

these days, a million dollars wont even buy a decent boat, let alone a chopper or a plane....!

so, play it safe, for sure, but why end the fun.

my crystal ball is just gettin warmed up!!!

Originally Posted by DayDream

Such a nice article showing happiness and pride in the hearts of the Iraqi people!

Iraqis celebrating in the streets the rise of the Olympic team for the semi-final *******

Saturday, 09 December 2006 4:37 PM-BT

Baghdad - (Voices of Iraq)

.Er Aghion went to the streets in large numbers this evening today, Saturday, while others fired shots in the air and celebrate the victory of the Olympic team on the rise and the Uzbekistani team to the semi-finals for the championship of the Asian Games (*******), which was held in Doha.
In Baghdad, fired citizens in different parts of the city of Baghdad rubber bullets in the air to celebrate the victory of the Iraqi team.

Eyewitnesses reported in the areas of freedom and Kazimiya and torch and Ghazaliya and Attivih and hung inspired peace News Agency (Voices of Iraq) Independent that the population of these regions had opened heavy fire in the air immediately after the match Iraq and Uzbekistan, which ended in victory for the Iraqi team two goals against one goal.

The eyewitnesses that the Senate mosques in freedom and Altobji appealed to citizens to refrain from launching shots in order to preserve the lives of their brothers.

In Kirkuk left large numbers of citizens to the streets expressing their joy winning the Olympic Team.

He said one of the residents told (the voices of Iraq), "The Iraqi team win today introduced cheer to the hearts and we celebrate this win in the hope that the pain was still open to dress the wounds of the Iraqis, who suffer from the deterioration of the security situation."

In the city of Hilla, a citizens fire in the air to mark the victory of the Iraqi team to team Uzbekistan Streets were littered with cars.

Eyewitnesses said that the cars are moving columns has been launched Alert machines and left those commemorating the windows shouting I love Iraq.
For his part, a security source in the police command in Babil, who requested anonymity, told (Voices of Iraq) that the detachments of police intensified their presence on the streets to protect the revelers who shoot up in the air, as is prohibited.

The Iraqi Olympic team has advanced to the semi-finals in the Asian Games championship after beating his Uzbek two goals against one goal in the match between the two today in the role of the eight Qatari capital, Doha.
Scored the first goal of the match player Iraqi Karrar Jassim in the ninth minute of the first half, and before the end of the first half two minutes realized Uzbek team tie.

He concluded the original time for the match tie positive and the two teams played two games during which additional resolving the Iraqi team sport result in favor of a goal scored by the player on Mansour Alwan in the third minute of the first extra half to end the game with two goals against one goal for the benefit of Iraq.

This win qualified the Iraqi Olympic team to the semi-finals of the ******* of the Doha expected to meet the winner of the game between China and Iran.

ÑíÇÖÉ - ÇÍÊÝÇáÇÊ :: Aswat al Iraq :: Aswat al Iraq

Cheers!
DayDream

Daydream, I'm here in Doha and have witnessed Middle East Countries in different event...wow!!! I never imagined how exciting this would be; allot different from Atlanta though and cheaper too.


V/R

Al