The Dinar Daily, Monday November 3, 2014
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  1. #1

    The Dinar Daily, Monday November 3, 2014

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts



    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    [S]ecurity ministers file will be resolved soon and their selection will be exclusively by Abadi
    BAGHDAD / NINA / MP for the state of law coalition, Hisham al-Suhail said that "the issue of the security ministers will be resolved soon through the agreement of the concerned political blocs on the candidates."

    He told the National Iraqi News Agency / NINA / "The situation experienced by the country and the region urgently needs an end to this file and no to delay it too much, because it does not benefit the political process in the country."

    Suhail added that "the Prime Minister is determined to end this file and he has the final word because he has an obvious desire that these two offices should be run by professionals."

    The House of Representatives failed to vote on the candidates submitted by Abadi to the ministries of interior and defense Riad Ghraib, Jaber al-Jabri, respectively, and decided to postpone the vote on the positions until reaching national consensus.

    http://www.ninanews.com/english/News...ar95_VQ=HHEFFL

    * More SLC " double talk " , IMO

    and


    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 94 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country. ARTICLE LINK



  2. #2

    Opinion, Mine!

    sczin11-

    So much confusion, contradictory news articles, speculation, and opinions! Let us remember a few very important pieces of information; Do you remember the news back in May of this year? The CBI announced the release of 500 Billion dinar BONDS! Do you remember what the Very BIG deal was about these bonds, in particular, compared to others issued along this ride?....... SHORT Term 6 (six) month bonds, expiring November 25, 2014! ( my date may be off a very few days)..... Remember, this was at the same time the UN gave June 1 deadlines for certain contracts Iraq needed to finish for THEIR people. Remember there were 8 beneficiaries for these Bond proceeds? Water, sewage, etc.... WELL, these bonds are coming due, folks! How will Iraq cover these bonds? No liquidity, still, looking to borrow money from anywhere, including from Japan, autonomy by the CBI, government in place, renewed relations with neighbors, kuwait, iran, even Saudia Arabia! ISX ready, electronic banking in order, Qi smart visa cards dispersed, e-government, new sattalites launched, internet upgrades, customs offices in place, new embassies opened, world bank offices opened, international banks added and opening, new security featured notes, anti money laundering training in place, transparency in all areas of the government, and on and on! And who said fils ( LD's) are being distributed to their banks?

    IMHO, it is time to raise the value of the Iraqi Dinar!




    FROM OOTW-

    Jaafari meets with the Emir of Kuwait and the Prime Minister and the emphasis on resolving the outstanding issues between the two countries

    Monday 03 November 2014 | 13:00







    Foreign Minister Ibrahim al-Jaafari to continue his visit to Kuwait, where he met with the Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Sabah, the Kuwaiti Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah, the two sides agreed to form a joint committee to prepare the files for their outstanding solutions, and that the signature and the end of the file, as discussed in Iraqi relations - Kuwaiti, and ways of enhancing them to serve the interests of the two neighboring countries

    and stressed Jaafari in Iraq's insistence to continue the relationship with Kuwait, and deepen remarks series, solving the files, the latter memos, noting that Iraq asked the Kuwaiti side to speed up so that the completion of these files and closed, said al-Jaafari said Talking with Kuwaiti Foreign Minister focused on the completion of these files and to assign agents Ministry of Foreign Affairs in both countries to do, and praised al-Jaafari's position Kuwait support for Iraq in Jeddah Conference, Paris, and New York as well as the international community that all stood with Iraq, noting that the Kuwaiti side expressed understanding and rapid response to all the points raised by the Kuwaiti officials on Iraq, and on the joint committees between the two countries Jaafari explained that he was assigned to prepare a joint committee files, and makes them ready for signature


    http://www.alqurtasnews.com/news/596...D9%87%D8%A7/ar


    New trading
    3/11/2014 0:00
    Baghdad thank Fatlawi


    Said Executive Director of the Iraq market for securities: The market opened the first held under the new trading system "X- stream" after obtaining the approval of the Iraqi Central Bank and the Securities Commission. Said Taha Ahmed Abdul Salam, the "morning": that the exchange carried out on Sunday, the sale and purchase contract between the International Finance Corporation (IFC) as a salesman and National Bank of Kuwait as a buyer of the shares of Credit Bank. He added that the number of shares traded amounted to more than eight billion shares worth more than 14 billion dinars at a price of JD seven hundred and sixty fils per share.

    https://translate.google.com/transla...x%3FID%3D80348


    Advisor: Central Law prevents investment cash reserve




    2/11/2014 0:00

    BAGHDAD Mustafa al-Hashemi is the cash reserves of the Central Bank of the most prominent is the independence of the financial institution designed to maintain the market exchange rate of the local currency stability to foreign counterparts, and at a time when the hints is thought that the show's central bank will act in this reserve, matched by official assurances that the cash reserve the central bank is not permitted to be touched at all, as should not have the government lend any reason whatsoever. It consists of strategic reserves of gold, silver, convertible currencies, as well as some currency that can be converted to either a convertible currency or to gold. In this context, explained the academic banking advisor Dr. Essam Mahouelle : In Iraq, a country of oil, part of the oil revenues shall be deposited with the central bank as a reserve Offer no government may ask the central bank to provide them with any amount of this reserve because they (ie the government) has taken its share of oil revenues, as well as taxes and introduced within the general budget of the state. The central bank governor Dr Ali Alak denied earlier in the central bank's intention to invest its reserves of gold and currencies to oppose it with the goals of the reserves and the central bank law. Comes the central banished after transfer from the parliamentary economic committee of the central bank promised that it will invest its assets in foreign currency and gold early next year. He Mahouelle told (morning): The Central Bank maintains has a reserve being the property of the people and for future generations, explaining that the section of these reserves is used as a cover of banknotes issued within the country is a matter of confidence in the national currency, adding that the reserves represent international purchasing power and thus provide an important pillar of the external value of the national currency in the times that shows where a deficit in the balance of payments. He continued at the present time, still the Iraqi dinar suffers from a low rate of exchange against the dollar the currency of international as well as some other currencies. Indicating that the reason is due to international sanctions and the issuance of UN resolution whereby withhold oil revenues from Iraq and deposited in a French bank in New York, Maady to lower the exchange rate of the Iraqi dinar is rapidly and is unprecedented in the history of the world's currencies until he reached the exchange rate of the dollar to 3,500 Iraqi dinars per dollar . He argued that after 2003 canceled the sanctions imposed on Iraq, but the dinar exchange rate against other currencies remained low due to the Chapter VII, who was standing in the way of the dinar against the return to normal. And the central bank to sell the US dollar through the auction to dealers and private banks and through them to the public in order to maintain the stability of the market and prices Abv.ivkr that reserves of hard currency of 74 billion and $ 300 thousand, in addition to the current monetary mass in the market amounting to 40 trillion dinars .

    http://www.alsabaah.iq/ArticleShow.aspx?ID=80282
    OOTW - HOW DO THEY GET A 2015 BUDGET WITH A FLOATING CURRENCY - THIS ARTICLE ABOVE STATES THAT IRAQ IS ONLY PARTIALLY OUT OF CHAPTER VII AS WE'VE SEEN IN OTHER ARTICLES. THEY STILL OWE KUWAIT AND THIS IS WHY THEY'RE STILL PARTIALLY UNDER CHAPTER VII - BASED ON THIS, AND AFTER TALKING WITH BUTI...WE HAVE A COMMON QUESTION; HOW CAN THEY REPAY KUWAIT ON A FREE FLOAT? THEY WOULD HAVE TO MANAGE THE FLOAT VS THE CURRENCY DENOMINATIONS...JUST A THOUGHT...AND WE'RE OPEN FOR COMMENTS. THANK YOU.
    Last edited by OOTW; 11-03-2014 at 08:56 PM.

  3. #3

    The Dinar Daily, Monday November 3, 2014

    Roudao - Erbil


    MP warned National Forces Alliance Abdel Azim Ajman, on Monday, that Iraq testify dire economic situation, in light of the accumulation of debt and stop the investment side.


    He Ajman network Roudao media that "the oil ministers and Planning and Finance admitted during the recent House of Representatives hearing, that Iraq testify dire economic situation due to the debt, which amounted to 85 trillion Iraqi dinars," pointing to "avoid the problematic of these debts in the next budget and how to reduce the deficit attempt Minister" .


    Ejman said that "the main reason for the problem of the budget goes back to the former Prime Minister Nouri al-Maliki, who granted himself the right to withdraw any funds from the Ministry of Finance, was left a bit of a budget in the banks, it is also pulling allocated for the implementation of projects advances Reserve 2012 and 2013, which did not be spent on any projects. "


    He pointed deputy National Forces Alliance that "the investment side in Iraq has completely stopped," adding that "Iraq is steeped money and blood."


    He asked Ejman "What we discuss if there is a large exchange, and a crisis of security with the organization Daash, and crisis displaced, and other matters plunged Iraq into debt?", Noting that "terrorism will remain, and the problem of the displaced have not yet been resolved, they do not remain under the cold, nothing to do with the budget this Due to the problems she spent without roads. "


    On the financial budget for 2015, Ejman said, "Immediately after the ministries to work, there are promises of an action plan for a period of three months starting from the first of September last September, in order to avoid a lot of mistakes that they fell in the budget of 2014, and reduce costs and waste of public money, and these are the promises of Ministers three Hoshyar Zebari, and Adel Abdul-Mahdi, and Salman al-Jumaili, who are ministers of the three most important ministries and sovereign. "

    http://translate.googleusercontent.c...HweVwYSIGpRkHQ

  4. #4

    Re: The Dinar Daily, Monday November 3, 2014

    The financial crisis and the security file nabe Iraqi newspapers concerns of the day



    03-11-2014 10:44 AM
    Free -
    Newspapers highlighted Monday issued today provides the Iraqi military forces in various configurations supported by members of the clans and the popular crowd and the police about the areas controlled by terrorists Daash, the serious financial crisis experienced by Iraq.
    Has newspaper Constitution 'that the Iraqi army forces in various configurations supported by members of the clans and the crowd and the SPLA and the police about the areas controlled by armed extremists determination striking despite fighting difficulties that stand in front of her said, using a new tactic, using modern military plans direct attack and surround areas and cities to the point made militants fleeing the pieces in front of the rapid progress and their collapse, especially after the military changed its strategy from defense to attack. '
    The newspaper 'in recent days, several achievements have been made to turn the page after the rock cliff and progress towards the west and north towards Anbar Baiji, bringing the number of dead and extremist organization to one thousand five hundred in the last month alone.'


    The newspaper quoted a military expert Maj. Gen. Abdul-Karim Khalaf as saying 'that the progress achieved by large security forces and bodes quickly regain control of all areas, and the experience gained days after the last armed forces approaching zero hour to break into Mosul, stressing that «the coming of the Secretary of Defense came at the right time the fact that the military institution in dire need of a professional from the womb to the officer and actually man professional came to be able to clean up the Department of Defense First of corruption and low professionalism to strong security ministry uses modern techniques of military plans such as media and counter-change tactic and presence with the pieces as we saw he was in the rock cliff a few days ago and the base Ein al-Assad the far north of Anbar last Friday and around the capital Baghdad bunker and this is what I miss him already army, accompanied by state and tribal political harmony and social solidarity ».
    The newspaper also published an editorial by editor on behalf of Sheikh stating 'cast factional and regional which have adopted in building the political process a shadow on all aspects of the state their authorities and institutions, without distinction between one and another, and more institution-hit impact is the security establishment in all its formations and the worst of this effect is fragmentation of the security sector, according to regional or provincial '.
    The newspaper 'dealing with the security file is Mojtze and surround each province privacy security has begun differ in terms of the vision set for them from other provinces, which produced the disparity remarkable variation led to the inability to build a comprehensive security organization able to look into one for each of the are responsible for their security and protection. '
    For its part, the new morning newspaper, 'said a Kurdish official Iraqi revealed by the so-called organized Islamic state "Daash" the transfer of about 400 Arab families from the center of the country to the east of the province of Nineveh and resettled in areas belonging to the sons of the Iraqi minorities, with the exception of an officer in the Kurdish security device that The move echoes the policies and methods of the former Iraqi regime in the Arabization of Kurdish areas.
    The newspaper reported the official statement of the spokesman for the Kurdistan Democratic Party in Mosul, happy Mamo Zinni it stressed that "the terrorist organization Daash has transferred about 400 Arab families from the provinces of Anbar and Salahuddin to areas in the east of the city of Mosul
    These families have been resettled in safe areas within Bazwaya hand Bartalah (25 kilometers east of Mosul), which belongs to the citizens of Kurdish Shabak followers of the Shiite sect. "
    And on the financial crisis currently faced by Iraq Zora newspaper of the Iraqi Journalists Syndicate said 'in the House of Representatives is expected to pass overdue budget for the current 2014, hoping to be sent from the government as soon as possible, Congress stressed that Iraq is facing a serious financial crisis will push the country to the brink of bankruptcy because of the treasury empty Central of cash '.
    The newspaper quoted a member of the Legal Committee of the Parliamentary Kurdistan Alliance MP Amin Bakr in saying that Finance Minister Hoshyar Zebari, the House of Representatives, told through hosted a few days ago to indicate the implications of the late arrival of the general budget to the presence of the amount of about two billion dinars in the central treasury of the state. "
    The paper pointed to the assertion that "the country is facing a financial crisis will push to declare a state of bankruptcy in light of the lack of adequate liquidity and falling oil prices and lower export rates due to the security situation."
    Focused on the newspaper as saying: "The government has provided a list of proposals for addressing the central treasury resources related to the reduction of government spending for the last three months of the current year to exceed by about $ 22 billion to be able to overcome the crisis."
    Badr newspaper spokeswoman Manceta Badr Organization and published on its front page under the title / Karbala: Preparation of visitors Ashura outweigh years Alsabakh..ajraouat tight security to thwart attempts targeting visitors of Imam Hussein, peace be upon him /.

    http://translate.googleusercontent.c...oVk8fnZoQJTZXg

  5. #5

    Re: The Dinar Daily, Monday November 3, 2014

    Announcement No. (2807)


    The latest daily currency auction was held in the Central Bank of Iraq on the 03-11-2014 the results were as follows:








    DETAILS NOTES
    Number of banks 17
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 205,334,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 205,334,000
    Total offers for selling (US$)


    Market Rate. 1202

  6. #6

    Re: The Dinar Daily, Monday November 3, 2014

    Arab League Council held an emergency meeting at the level of permanent delegates at the request of the State of Kuwait
    Home < Policy < Arab League Council held an emergency meeting on ...


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    Arab League Council held an emergency meeting at the level of permanent delegates, and at the request of the State of Kuwait «the current president of the Arab summit»; to follow up on the implementation of the decisions of the summit in its twenty-fifth, which was held last March in Kuwait, and evaluate the results of the recent visit of the Arab ministerial delegation headed by First Deputy Chairman of the Council of Ministers and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah to Iraq.


    And the results of the delegation's visit Arab Wazzaa to Iraq recently, Ambassador Aziz Daihani delegate Kuwaiti explained that the Deputy Prime Minister and Foreign Minister and the Secretary General of the League's visit to Baghdad, involved a message of support to the Iraqi government, pointing out that the visit came at an appropriate time and carry an important message in this The time came to implement the decision of the last ministerial meeting last September.


    http://translate.googleusercontent.c...1LpfXS2rKdiM_A

  7. #7

    Re: The Dinar Daily, Monday November 3, 2014

    Economists: falling oil prices will negatively affect Iraq's budget through 2015
    November 3, 2014 11:41Last updated: November 3, 2014 11:41Source: Direct



    And where the Iraqi News Agency reported that the Iraqi economists experts warned of a significant shortfall in the fiscal budget for Iraq through 2015 if it continues to fall in oil prices, especially with the country's dependence on oil rents by more than 90% in the annual financial establishment's balance.


    The oil minister, Adel Abdul-Mahdi said during hosted in the House of Representatives with the Ministers of Finance and Planning last Thursday to "a large hyperbole in spending requires treatment, he did not need Iraq to foreign debt because of his resources equivalent to the budgets of four neighboring Arab countries, but the problem is the fact that unilateral Iraqi economy depends on oil, which imposes on everyone to understand that the issue will continue this path to bankruptcy. "


    She said the agency at Abdul-Mahdi pointed out that "the possibility of the ministry to increase oil production effort of the government and the House of Representatives, especially with the presence of obvious problems the number of licensing rounds, stressing the need for effort with OPEC to face the global oil market situation and lower global growth rates for some oil-importing countries of Iraq."

    http://translate.googleusercontent.c...ytXMziA0BmXHFA

  8. #8

    Re: The Dinar Daily, Monday November 3, 2014

    sczin11- Wow! This is a great piece! Read every word!

    Experts call to activate investment law for the development of the work of the stock market in Iraq
    November 3, 2014 11:46Last updated: November 3, 2014 11:46


    Newspaper long said that economists stressed that the Iraq Stock Exchange is successful, compared with neighboring countries, pointing to the lack influenced by the confused situation experienced by the country, calling at the same time the Iraqi government to activate the investment and granting local and foreign companies an opportunity to engage in financial transactions in the Act Iraq. The economist said contrary goldsmith in an interview for the "long", that "the development witnessed by the Iraq Stock Exchange as a result of the continued movement of cash is considered good when compared to the period of its establishment, which does not exceed ten years."


    He added that "the law of the market does not specify the number of companies participating in the market, but the general situation of the country has identified these companies, which is reflected in the slow evolution despite the presence of financial liquidity sufficient for the Iraqi economy." He explained the jeweler that "the security and economic crisis experienced by the country's limited economic in motion General trading and the stock market, in particular, despite the availability of the right foundations to make the Iraqi market comparable to the global markets in different currencies and securities trading operations. "

    He said the "lack of activation of the investment law and adherence to previous laws which emphasizes the central thrust in the management of the local economy prevented a lot of investors and owners of domestic and foreign companies to participate in the real stock market."


    According to the newspaper, the expert said that "the trend towards economic openness and to give confidence to foreign investors would develop reciprocal movement of the market and give confidence to the citizen to engage and contribute to the stock market activities", stressing the Lebanese Business Council, earlier, that the Iraq Stock Exchange, has "appeal special "for investors, and is a" model "for the markets that are trying to" progress quickly, "noting that the conference which will be held in Dubai currently aims to encourage businessmen to participate in the investment in that market.


    The head of the Lebanese Business Council, Raouf Abu Zaki, in an interview to the "long-Presse", "The Iraq Stock Exchange has become enjoy a private investment attractiveness," noting that "the Council systems by more than two-week conference of Iraqi and Lebanese banks in Beirut, and here is Today involved in regulating other financial conference in Dubai in the United Arab Emirates. "He added Abou Zaki," The conference aims to follow up the situation of the capital markets in the region in general, "returned to" Iraq Stock Exchange is a model for those markets that are trying to progress quickly. " The President of the Lebanese Business Council, that "the conference will give an idea of ​​the money market in Iraq and dealings and how to promote it with the help of partners," noting that "the conference includes a research group to develop the Iraq Stock Exchange and inviting interested and businessmen to participate in the investment in it, as well as discuss the reality of opportunities available investment by contributing to listed companies on his list. "
    http://translate.googleusercontent.c...Z1XY1v9sSl9xYA

  9. #9

    Re: The Dinar Daily, Monday November 3, 2014

    Darraji: Override the probability of the budget deficit will be reviewing oil rounds of investment and activation [audio]
    Monday 0.03 2 October / November 2014 12:21






    [Baghdad-where]




    Deputy called for the National Alliance to promote the state's resources and to find alternatives for the proceeds of oil exports to avoid a deficit in the fiscal budgets.




    Economists warned Iraqis of a significant shortfall in the fiscal budget for Iraq through 2015 if it continues to fall in oil prices, especially with the country's dependence on oil rents by more than 90% in the annual financial establishment's balance.




    The MP said Mohammed al-Darraji told all of Iraq [where] that "the problem of Iraq relies on 90% of its imports of oil and this is a big problem and it was supposed to be Iraq is currently producing 3.4 million barrels per day, and because of the security conditions and the dispute with the Kurdistan region."




    "The production today has become 2.3 million barrels in addition to the drop in world oil prices where the price per barrel of $ 106 when submitting the budget beginning of the year 2014, and now prices around $ 87, and this affects the general budget as well as higher operating budget expenses and there is a great form of this direction. "




    Darraji and saw that "the solution is the first two-pronged Allanaftyh diversify imports such as passing a law of customs tariff or activating taxes and open the door for investment and re-balancing of priorities, which rely on oil as a source of the essential and should invest underground and leave the mental socialism in investment."




    National Alliance MP also called for a "policy review blister Nearly 29% of the budget is spent on oil and the opposite of what exists in the world."




    He stressed Darraji "the need to review the licenses and service contracts and not to work out future tours and instead contracts are with companies decades extractive take them extracted oil companies rights and profits and give the rest of the Iraqi state, as we have to be more open on the subject of investing its oil resources and leave the classic mentality that says you must exchange for oil and development. "




    The oil minister, Adel Abdul-Mahdi said during hosted in the House of Representatives with the Ministers of Finance and Planning last Thursday to "a large hyperbole in spending requires treatment, he did not need Iraq to foreign debt because of his resources equivalent to the budgets of four neighboring Arab countries, but the problem is the fact that unilateral Iraqi economy depends on oil, which imposes on everyone to understand that the issue will continue this path to bankruptcy. "




    He pointed Abdul-Mahdi said that "the possibility of the ministry to increase oil production effort of the government and the House of Representatives, especially with the presence of obvious problems the number of licensing rounds, stressing the need for effort with OPEC to face the global oil market situation and lower global growth rates for some oil-importing countries of Iraq."




    The statistics prepared [where] Based on data from the Ministry of oil that Iraq exported crude oil over the past ten months, more than 751 million barrels Baardat Al73 exceeded 2 billion Dolar.anthy
    http://translate.googleusercontent.c...Vd9vMSCyPX2uRA

  10. #10

    Re: The Dinar Daily, Monday November 3, 2014

    Sulaymaniyah is preparing for the opening of an international exhibition with the participation of 130 foreign companies


    Author: RA
    Editor: HH
    11/03/2014 11:23
    Number of Views: 42


    Long-Presse / Sulaymaniyah
    Announced room Sulaymaniyah trade in Kurdistan region of Iraq, on Monday, the willingness of the province to the opening of the exhibition (DB Aix International), in the 11th of the month this November for a period of four days, and while confirming that 130 foreign companies will participate in the exhibition, pointed out that the objective of The exhibition is to build trade and economic relations between the region and those companies.
    The Chamber of Commerce of Sulaymaniyah member Azad Abdul Qadir during a press conference in Sulaimaniya and attended, (long-Presse), "It is scheduled to open the World Expo (ADP Aix) in Taslojh area city of Sulaimaniya from the 11th until the 14th of the month this November ", noting that" 130 foreign companies will participate in the exhibition. "
    Abdel Kader said that "the opening of the exhibition building his first two goals of trade and economic relations between the KRG and foreign companies and the second goal is to prove that the Kurdistan region in a state of security despite the conditions experienced by the region."
    It is noteworthy that gallery (De NBC) is the fourth annual international exhibition held in Sulaymaniyah to rebuild Iraq's Kurdistan region, organized by the Iraqi Chamber of Commerce and Industry of America.
    http://translate.googleusercontent.c...mbT-WxYuYBr_bA

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