The Dinar Daily, Saturday December 13, 2014
Page 1 of 6 123 ... LastLast
Results 1 to 10 of 54

Thread: The Dinar Daily, Saturday December 13, 2014


    
  1. #1

    The Dinar Daily, Saturday December 13, 2014





    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 84 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

    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

    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

    Re: The Dinar Daily, Saturday December 13, 2014

    Iraqi Minister of Finance: adopt a new ground for the development of relations with the Arab and Muslim world
    29 minutes ago | wrote: MENA


    Hoshyar Zebari, the Iraqi foreign minister.
    Imaging: other
    Finance Minister Hoshiyar Zebari said on Saturday that there is new ground between Iraq and the Gulf states to give the new Iraqi government an opportunity to develop Iraq's relations with the Arab and Islamic surroundings.


    Zebari said, in a statement to Channel «Arab event», that the war on al «Daash» cost billions of dollars through armament, and equipment and the salaries of the volunteers and the popular crowd decades in addition to care for the displaced.


    Zebari revealed, he would end the draft budget for 2015 next week, the Council of Ministers, and expected to be approved.


    He said Iraqi Minister of Finance, that the plan adopted in the budget of 2015 is the rationalization of expenditure and reduce costs and bridging the existing deficit, which reached 35 trillion Iraqi dinars, pointing out that the bulk of the budget goes to the military effort and the defensive effort for the country.


    He Zebari, that there is a poor exchange or mismanagement, we audited the first alarm in the security establishment to carry out reforms, and we talked about ghost soldiers that have become a matter of public opinion.


    For the popular crowd, Zebari said he was more than $ 800 million in exchange for the salaries, but that the money did not reach all concerned, where there is a complaint that large numbers of the popular crowd did not receive their salaries.

    http://translate.googleusercontent.c...FXxEQE1COQMBNQ
    Last edited by sczin11; 12-13-2014 at 10:49 AM.

  3. #3

    Re: The Dinar Daily, Saturday December 13, 2014

    Iraqi Currency damaged .. for lack of Almsoal replaced



    Every day the Iraqis problem and it seems that their problems will not end !! Through our follow-up of the currency markets and exchange dealing, especially small denominations, (250 dinars 1000 thousand dinars and 5000) because of damage to its scarcity in the market, and not accepted by the shop owners or Albesttiyat and even citizens themselves and become a problem New, and caused great confusion in the daily transactions for the purchase of food, clothing and pay transportation cost and other business dealings ..ually Although the federal government to replace the coin (10000 thousands of enlightened) and withdrawn from the market and put the new category in the market.
    The problem lies in the non-receipt of small currencies that make up the backbone of the market, especially if Maarafna that banks refuse to Sulaymaniyah receiving damaged currencies and replace it too !! .. It Almsoal them and Maznb citizens ?? Questions we put to a number of citizens.
    Tour cite Sulaymaniyah to know about the damaged and consuming currency problem where Ghuman spoke to site PUKmedia: We suffer a lot of damaged and consuming currencies problem due to be replaced by the Ministry of Finance maturity or the competent authorities and citizens to Aigtna be consuming currency and Ntdolha we are responsible for them, and the same case for us if we were the owners of shops or cake, because the source of a bank to replace it and be (the owner of that currency is the biggest loser)! Especially when there are coins worth over thousands or millions of dinars and various Agaym..okhash that there are hundreds of currencies without numbers or different numbers and if the numbers match there will be no problem, and a lot of citizens to Aatqublon us those currencies and the same case for us ..
    He Ghuman We demand the government Aualbnuk that those currencies replaced by a new currency intervention markets and away from us problems and citizens also because there are a lot of problems got and get between us and our customers because of it and reach them to the extent of police stations and courts because of those currencies, I do not think that there is a difficulty in replacing because it is an official currency and government and banks are Almsoalh follow-up to the damaged ones and replaced with newly printed currency .. and banks should receive us those currencies and Ataatjahlha for various reasons, and we remember the days (filling stations) were received and replaced the damaged Alalamt .. why today refrain from it? ?
    Retirees caught in the trap of salaries (damaged currency) was one of their share of this month, where the trustees banks regardless (pensions) of damaged currency, where they receive every two months this damaged and torn and affixed amounts tape transparent .. which leads them to isolate what at least twenty or thirty thousand dinars from the damaged currency .. and this certainly affects the amount of salary, especially since the salary does not exceed the (300) or (500) thousand dinars, which confirms retired Omar site PUKmedia: that damaged currency has become our problem retirees also have we complain more than once if the salary damaged own currency .. However, the staff Ayaném hurry ..omottagaad last endorses the view of his colleague: I went to the director of the bank and raised the salary front of him and told him professor you accept this .. (my salary is half ripped) .. He answered Ptaala and what you want to do? If you want to clean the currency and that demand is where we come so ..? And retired last says that these damaged currency is the remnants of what comes with the merchants, they give bribes to accountants are replaced come by .. or Eodonh in their bank accounts and as a result they behave us because they do not know that we are powerless !!!!!
    One banker Experts said the site PUKmedia: that paper currencies have an indefinite life and time because the life span of large coins, a five and twenty thousand and ten thousand is 5 years, while the usually small groups in the world to be Coins, and the age of the metal at least 30 years, while we around the small coins to Rgih..olaajos that because it currencies dealing with daily between citizens, and small paper currencies damage quickly because it is a quick trading, a large number, and Duarte's biggest and most powerful dealings in terms of size. And that the problem of small groups of any 250 dinars and 500 dinars, and the category of a thousand dinars, in the event of damage is not replaced, nor the citizens, send them to the central bank because it is small groups which do not harm him so much, and this is what leads to the damaged deducted from the rights of citizens, unfortunately, these small groups mainly affects the poor, because the elements income Mahdod..oan trading in small transactions many times larger transactions ..
    Citizen Rashid taxi driver across the site PUKmedia: face great difficulties in dealing with passengers who Astagronna on the provision of coins of small denominations, metal, especially because it is easily Atsthlk longest-old from paper such as (thousand dinars and 250 Denarau 5000 five dinars) specifically, because of scarcity, and damage to the existing of them, and when they hired us someone and be freight four thousand dinars, for example, and pay me the currency of the category 5 thousand, I am having trouble returned thousand dinars to him, because the availability of small currencies mostly corrupted, not acceptable to the customer is entitled to it, and many times he was forced to give up the amount of full fare, if the customer refused to take a rest in the form of banknotes and semi-damaged, or if I have not been available the rest ..!
    Jafar employer says site PUKmedia: we have generated a new problem we are employers and self-employed and shops because of the damaged currency, because people Aatqubloha we also? Most often those currencies to tear it unfit for circulation and loss Multiply be on us and on banks that receive Currency torn and damaged and dilapidated, and we received a new currency, and I remember the days when the currency (Swiss) was very strong and difficult to damage quickly.
    Banker said the site PUKmedia: Banks in Sulaymaniyah refuses to replace the damaged currency at all and if it agreed to replace it, they put impossible conditions require the owner of those currencies brought out (the official archives conditions and sexual and ration and a certificate of citizenship) is located citizen in big trouble as the method in the previous receipt damaged currencies and replace the new currency and end the problem .. but today there are big problems, and even bank tucked damaged banknotes between the good and the disposal of the citizens through salary or bank withdrawals and other official transactions, people also resort to the same method in many cases refuse people received and converted Atar..ohna to ask the same question of the bear and Almsoal about replacing those damaged Currency new currencies?

    http://translate.googleusercontent.c...4-OkK2Rdihisow

  4. #4

    Re: The Dinar Daily, Saturday December 13, 2014

    Zebari: Cabinet to discuss a revised budget for 2015 on Sunday By Shaimaa Mohammed Two hours ago


    Minister of Finance
    Roudao - Agencies


    Detection and Finance Minister Hoshyar Zebari, that the Council of Ministers will discuss, in its meeting scheduled on Sunday, balancing modified to initiate the financial budget for the year 2015 Act.


    Zebari and expressed the hope that "the government agree to a revised budget for 2015 at a meeting on Sunday."


    Zebari said that "after the rejection of Prime Minister Haider al-Abadi to the original draft budget, the Ministry of Finance reduced spending by about ten billion dollars, but still expected the deficit to about $ 30 billion."


    It is noteworthy that Iraq has canceled two weeks draft budget law before 2015, because of falling oil prices, saying it would reduce spending plans.


    Zebari said "the (deficit originally) exceeds 47 trillion dinars ($ 40 billion), with the presence of all additional expenses. It is then cut back contracts and payments or postpone non-essential projects."


    Iraq, which is a member of the Organization of the Petroleum Exporting Countries producers (OPEC), suffering from a sharp drop in global oil prices and the control of the organization of the Islamic state on the regions in the north and west, which led to the displacement of large numbers of people and the destruction of infrastructure and a significant increase in expenses military.


    The International Monetary Fund said that Iraq's economy is heading for a contraction of 0.5 in 2014, the first contraction in at least ten years, and foreign exchange reserves fell by ten billion dollars so far this year.

    http://translate.googleusercontent.c...pMJpQOKw6LW1qw

  5. #5

    Re: The Dinar Daily, Saturday December 13, 2014


    sczin11- Is this a different time then the above article states?

    Finance Minister: We will finish the draft budget for 2015 next week
    Date: 13/12/2014 11:44
    70 0

    Finance Minister Hoshyar Zebari announced the submission of the draft 2015 budget to the end of next week, the Council of Ministers in order to sign it and submit it to the House of Representatives for approval.

    Zebari said in a televised interview with Al-Arabiya pursued agency / information / that "his ministry will present the draft 2015 budget to the end of next week, the Council of Ministers with a view to approval, which adopted a plan rationalize spending and reduce costs and bridging the existing deficit."
    He added that "the bulk of the budget goes to the military effort and the defensive effort for the country, and this will be repeated in 2015, probably more than 23% of the dedicated to the security and defense budget in 2015".
    He said Zebari that "there is poor drainage or mismanagement in many state institutions, and we would have sounded the alarm in the security establishment to carry out reforms and talked a lot about ghost soldiers and become a matter of public opinion."
    The 2014 budget has seen significant delays even before the whole year has not been approved because of political differences, particularly between the center and the Kurdistan region after region claim to increase its share of the budget and pay the salaries of the Peshmerga. / Ended 25 R.

    http://translate.googleusercontent.c...KOlMzUBer2LczA
    Last edited by sczin11; 12-13-2014 at 12:08 PM.

  6. #6

    Re: The Dinar Daily, Saturday December 13, 2014

    Weights taxes on water, fuel and imports






    BAGHDAD / Obelisk: the parliamentary finance committee suggested, the imposition of taxes on certain public services such as electricity, water, fuel and high customs fees on imports, especially electrical appliances, to reduce the budget deficit in 2015.


    A member of the committee MP Ali Mohammed, said: "The problem about reducing unnecessary expenditure in the budget of the Ministerial Committee is considering the possibility of imposing taxes on some public services and raise the government support them, such as electricity, water and some oil derivatives, as well as the increase of customs duties on some imported items, especially electrical appliances, in order to reduce the fiscal deficit to balance next year. "


    He added: "This measure will be temporary until the resumption of oil prices to rise and fill the budget deficit," likely that "the tax rate will be low so as not to affect the citizens."

    http://translate.googleusercontent.c...tB6lo_5Ussaaew

  7. #7

    Re: The Dinar Daily, Saturday December 13, 2014

    For the first time ... Iraq will resort to the imposition of taxes on mobile phone sales to bridge the budget deficit

    Saturday 13 December 2014 - 12:46Write a comment



    Detection and Finance Minister Hoshyar Zebari, the Iraqi government will resort for the first time to impose taxes on mobile phone sales to bridge the shortfall in the budget in addition to a host of other taxes to cover the deficit.
    Zebari said in an interview with Channel "Arab" that "will present the draft of the end of the budget 2015 next week, the Council of Ministers," likely to "be approved, noting that" the plan followed in the budget is the rationalization of expenditure and reduce costs and bridging the existing deficit, which reached 35 trillion dinars Iraqi "
    Zebari reiterated his assertion that "the bulk of the budget goes to the military effort and the defensive effort for the country.
    The Iraqi government delegation headed by Finance Minister Hoshyar Zebari held in (December 7, 2014), in the Jordanian capital Amman round of annual consultations with the International Monetary Fund aimed to investigate the effect of the war against al "Daash" on the Iraqi economy and discuss the budget 2015 plan in Iraq .

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3323251&usg=ALkJrhjl2C7zzlzSCjIYADczeO230OnlGQ

  8. #8

    Re: The Dinar Daily, Saturday December 13, 2014


    sczin11- You got to love repeat good news!



    Rubaie of Dubai government on future changes and invite you to visit Iraq
    December 13, 2014


    A member of the State of Law Coalition MP Rubaie, Wednesday, for large-scale changes in investment and structuring investment institutions in Iraq Act, to encourage foreign investors to invest in Iraq, calling on investors to visit Iraq and see the security, political and economic reality, and not rely on some of the media, to know the internal situation in Iraq.


    He said al-Rubaie in Hsafa statement obtained "obelisk" a copy of which, after the end of the meeting, which was held in the Emirate of Dubai, that "Iraq is a fertile ground for investment, and can foreign investors to grow their investments for the privileged," noting that "the new government, which recently formed, trying to find a political, security and economic reforms, as well as the fight against corruption through practical mechanisms, including subsidized could be adopted in the amendment of the Investment Act and encourage investors. "


    He called at the same time investors, to "not to believe some foreign media and Arabic, which is trying to undermine Iraq through the distortion of the image transparent," adding that he "submitted a request to the investors, inviting them to visit Iraq, and see the true reality of the size of the possibility of investing in Iraq ".


    On the other hand, "investors promised to consider this request seriously."

    http://translate.googleusercontent.c...3sSYEYJdqoCgFw

  9. #9

    Re: The Dinar Daily, Saturday December 13, 2014

    Integrity Rafidain Bank manager arrested after a robbery billions


    Rafidain Bank of Iraq


    0 Likes
    Font Size:


    Author: Editor: sa Reporter: Number of Views: 74
    13/12/2014 14:14



    Tomorrow Press / Baghdad: security source said on Saturday that the COI arrested Rafidain Bank director following the earlier theft of the bank billions of dinars.

    http://translate.googleusercontent.c...N22tO0pFxjwdPQ

  10. #10

    Re: The Dinar Daily, Saturday December 13, 2014

    Sczin11- Well, looks like it is put off until TUESDAY NOW! The BUDGET

    Cabinet discusses the budget next Tuesday after agreeing to increase oil exports
    Date: 13/12/2014 16:01




    information / special / ..
    Economic Adviser to the Prime Minister announced the appearance of Mohammed Saleh, Saturday, for the budget presentation in the Cabinet meeting to be held next Tuesday after agreeing to increase oil exports to compensate for lower prices.
    Saleh said in a statement to the Agency / information / "There are many points that were disruptive hinder Send a ministerial committee tasked with preparing a budget to the Council of Ministers."
    He added that "the Commission is nearing completion and it is hoped that the budget presented in the next meeting of the Council of Ministers to be transferred later to the parliament for approval."
    Saleh said that "this was offset declining oil prices by agreeing to expand oil exports to the maximum possible energy over the next year and the elimination of many of the unnecessary expenses and social benefits."
    The Cabinet announced earlier for the formation of a ministerial committee to amend the budget and the adoption of low oil prices in order to avoid the preparation of continuous decline, which may cause the budget deficit. "Finished / 25 /

    http://translate.googleusercontent.c...mk3LBZFPQvJZew
    Last edited by sczin11; 12-13-2014 at 01:10 PM.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •