The Dinar Daily, Monday January 5, 2015
Page 1 of 8 123 ... LastLast
Results 1 to 10 of 79

Thread: The Dinar Daily, Monday January 5, 2015


    
  1. #1

    The Dinar Daily, Monday January 5, 2015





    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, Monday January 5, 2015


    sczin11- Well, looks like CBI was opened on Sunday, after all...

    Currency Auctions

    Announcement No. (2858)

    The latest daily currency auction was held in the Central Bank of Iraq on the 04-01-2015 The Port on 05-01-2015 results were as follows:


    DETAILS NOTES
    Number of banks 13
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 156,965,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 156,965,000
    Total offers for selling (US$) -----

    Announcement No. (2859)

    The latest daily currency auction was held in the Central Bank of Iraq on the 05-01-2015 results were as follows:


    DETAILS NOTES
    Number of banks 15
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 213,109,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 213,109,000
    Total offers for selling (US$) -----

    Market Rate 1217

    FOR THE RECORD, THE TOP RITE BOX WITH CURRENCY PAIRINGS FOR TODAY, HAS NOT BEEN UPDATED..AS OF 6:45 AM EST

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1415.641 1414.933
    British pound GBP 1819.893 1818.983
    Canadian dollar CAD ----- -----
    Swiss franc CHF 1178.849 1178.260
    Swedish krona SEK 149.263 149.189
    Norwegian krone NOK 156.864 156.785
    Danish krone DKK ----- -----
    Japanese yen JPY ----- -----
    Special
    Drawing Rights
    SDR 1689.312 1688.468
    Indicative rates - 04.01.2015
    Last edited by sczin11; 01-05-2015 at 11:48 AM.

  3. #3

    Re: The Dinar Daily, Monday January 5, 2015

    The federal government plans to resolve the enactment of the oil and gas law


    Khandan
    - The federal government plans to resolve the enactment of the oil and gas law, which sparked sharp differences between Baghdad and Erbil, the governments of oil-producing provinces, taking advantage of the "positive atmosphere" between the political blocs in the House of Representatives, while expecting the oil and energy parliamentary law was passed soon after the demise of the main obstacle to the legislation.

    Saad al-Hadithi spokesman for the Prime Minister, told the "New Morning", "There is an economic technical committee in the Council of Ministers shall review the draft oil and gas law, and make adjustments where necessitated, in addition to the Abadi, commissioned by the Minister of State for Parliamentary Affairs to communicate with Council and urged him to expedite the enactment of important laws. "

    The newborn "The federal government is trying to invest the current positive atmosphere, and address the constraints through enactment of the oil and gas law, which defines the oil wealth investment", pointing out that the law "will end the problems with the Kurdistan region and local governments of the provinces of oil-producing and those that may get in the future, as well as that Adoption of the law from within the document the government program items. "

    For its part, sees the oil and energy parliamentary, to approve oil and gas law for quickly and without problems, needs an agreement between the federal government and the Kurdistan region and the oil-producing provinces.

    And the Chairman of the Committee, the Kurdistan Alliance MP Ares Abdullah, in an interview with "New Morning", "we are waiting for the government to send the draft oil and gas law for the purpose of the legislation, both new draft, or paragraphs are added to one of the drafts of the previous law," stressing "the need to accelerate the completion of the draft law by the government for the purpose of the legislation, because the country is currently undergoing a legal vacuum regarding oil and gas. "

    It is worth noting that the House of Representatives binding approval of the law, and in accordance with Article 122 of the Iraqi Constitution, which stipulates that no law to regulate the country's oil wealth.

    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%3D3390355&usg=ALkJrhiDNSuna1zQGkG_Zr6y_qnE198Yvw

  4. #4

    Re: The Dinar Daily, Monday January 5, 2015

    The government intends to implement projects on credit and borrowing from the International Monetary Fund to bridge the budget deficit



    Prime Minister for Economic Affairs Advisor to the appearance of Mohammed Saleh
    Prime Minister for Economic Affairs Advisor to detect the appearance of Mohammed Saleh said the central government is seeking to issue money orders to government bonds and short-term sold to banks to fill some of the doors of the deficit in the federal budget for 2015, noting that "the possibility of the implementation of the projects according to the system of payment on credit as projects of infrastructure, as well as borrowing from the International Monetary Fund. "

    Saleh also noted in a statement to Radio tow that "the federal government is still betting on oil export capacity, especially that Iraq's oil exports at the moment without ceiling specified in OPEC."
    He said Adviser for Economic Affairs in the Prime Minister that "austerity that gets in the budget in 2015 is the address for the waste of public money that was happening in previous years."

    On the other hand Saleh revealed that "the application of customs tariffs on goods entering Iraq from its ports and transmittance in some provinces the law has no value if it does not apply in the Kurdistan region and become a region of Iraq Kmarkip one, calling on the central government to conclude an agreement with the Kurdistan region requires the consolidation of the customs lists in the country.

    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%3D3390770&usg=ALkJrhjVMJZsVgnKoIPAuwPSVZZ-Qv5lNQ

  5. #5

    Re: The Dinar Daily, Monday January 5, 2015

    Secretariat of the Council of Ministers directed using sophisticated electronic programs to accomplish the government program



    The Secretary-General of the Council of Ministers Hamid Ahmed Khalaf work coordination with the ministries of the government program to accomplish the team using electronic programs to follow up the implementation of the program.

    According to a statement of the Secretariat of the agency {Euphrates News} received a copy of it on "The secretary general, expressed presided over a meeting of the Committee, prepared the General Secretariat of the Council of Ministers of the contract with the expert runs advanced electronic programs supply the work of monitoring the implementation of the government program, calling for the United Nations Development Programme {UNDP} helping to create an electronic programs specialized follow-up mechanism for the implementation of programs and plans. "
    He said the secretary-general, according to the statement, "pledged to independent bodies and the provinces to send their plans during the period of the middle of this month maximum to complete the plans and all the joints of the government departments, praising the efforts of the Committee on the achievements of the collection of ministries plans so quickly."
    The statement said that "the Committee reviewed the position of ministries and plans for the years 2015 - 2018, and discuss the mechanisms used to implement the program with the ministries and departments concerned."
    The prime minister Haider al-Abadi, had confirmed in a congratulatory message to the Iraqis on the occasion of the new year the importance of implementing the government program and commitment Baltoukitat time to implement paragraphs contained therein, and overcome the difficulties in cooperation and harmony and a spirit of teamwork. "

    It is said that the government put a government program was announced by giving them confidence in the House of Representatives included a package of reforms for the advancement of the country, ".anthy

    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%3D3390840&usg=ALkJrhhDWTq8PPI6haFQv_-EDAhVTXticw

  6. #6

    Re: The Dinar Daily, Monday January 5, 2015

    Finance Committee meets to prepare a report on the general budget



    Parliamentary Finance Committee met on Monday to prepare a report on the general budget.
    The committee member said Jabbar al-Abadi told all of Iraq [where] that "the Finance Committee held a meeting today to discuss the budget and the preparation of its report to display in the House of Representatives hearing on Wednesday."

    "The Finance Committee will discuss the spending cuts and re-explain the doors of the budget in detail," he said, adding that "if the discussion of the financial budget for 2015 is complete, the report will be presented in the parliament session on Wednesday."

    He was a member of the Finance Committee Faleh sari told [where] that the committee decided to intercede for the second reading of the financial budget proposal report provides next Wednesday for the Presidency of the Council of Representatives and in light of the Presidency will present the budget for the second reading on the same day or next Saturday at the latest date, noting that "the Commission's report will include discounts on unnecessary expenses for some ministries and modify some of the provisions in the budget, and including in the customs exemptions to public companies that we see will affect the private sector."

    He added that "there amendment with respect to some of the ministries of investment plans in the hot Kalanbar and Salahuddin provinces of Nineveh, which has to be a formula for the entitlements of petro-dollar project as a living and security situation an emergency, and know how to deal with them, you are placed in their own fund or be delayed for years to come, Add to put provisions in the budget is not permissible to buy cars and other assets for government departments. "

    He noted a member of the Finance Committee that "the Committee agreed to put the idea of making the savings of the three presidencies and special grades, not the employees ordinary, and contribute to the national budget support, which means that the amount of such savings is not due if the improved state revenues."

    Referred to the House of Representatives resumes its sessions on Wednesday after the Parliamentary recess and is likely to start the second reading of the budget law.
    The council had completed at its special session, which was held in 25 of the last month, the first reading of the draft budget law and forwarded to the Finance Committee before its lift to the seventh of this month.

    The total budget size of 125 trillion dinars and a deficit of 25 trillion Danar.anthy 2.

    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%3D3390862&usg=ALkJrhhs_prv2dJcnEHsxUfmIdul-XR71A

  7. #7

    Re: The Dinar Daily, Monday January 5, 2015

    Parliamentary Economy: the country is ready to prevent the importation of goods and must be local investor support



    Said a member of the Committee on Economy and Investment parliamentary beautiful Obeidi, said the country is ready to prevent the import of consumer goods, noting that GDP does not fill the need, and that the committee is working on activating the customs controls.

    She said al-Obeidi told all of Iraq [where] he "can not prevent the importation of consumer goods, as the country is not formatted final so there is no alternative."
    "The import and prevent entry of goods into the country, will lead to a siege on the citizen and this is not true, there must be fully equipped to meet the needs of citizens in order to prevent the entry of goods."

    And references to the "Committee for Economy and Investment parliamentary trying to activate customs controls in order to protect domestic production," pointing out that "until now there is no local production meet the needs of the country."

    She said al-Obeidi said: "It needs to be pre-planning and then implementation by creating laboratories, rehabilitation and support for peasant real support, in addition to the local investor support."

    She said the "Committee for the economy trying emphasis on consumer protection and the protection of the investor and the law of the national industry, and transform the public sector to the private and activate the plants that consume operating budget investment and make it by turning to the private sector."
    It is said that Iraq is witnessing great economic decline due to lower oil prices, and other factors, the negative impact on the general budget of the country, and the deterioration of the economic sphere in general.

    The Iraqi government has decided to early December last, the inclusion of all foreign goods imported and produced those of Iraqi companies customs tariff. Ended 2

    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%3D3391063&usg=ALkJrhjZdZoS6tg82a17IeVbHGycO9q7Kw

  8. #8

    Re: The Dinar Daily, Monday January 5, 2015

    Parliament: Wednesday's session dedicated to display the report of the Finance Committee for the general budget



    Announced the decision of the House of Representatives Niazi architecture Ihsanoglu said the parliament session after tomorrow Alaraa will be allocated to view a report of the Finance Committee for the budget bill.

    Ihsanoglu said that "determining the second reading of the draft budget hearing to a date to be later after the presentation of the final detailed report prepared by the Parliamentary Finance Committee on the budget file included proposals and comments to the House of Representatives."

    He said Ihsanoglu said "the Parliamentary Finance Committee will present a report on the budget in Wednesday's session noting that" the parliamentary committee will prepare a later summary of the new point of view of the House of Representatives on the draft general budget. "

    He favored the decision of the House of Representatives "to devote a session Wednesday and onwards to the interventions and proposals of Representatives on the budget file and presented to the Finance Committee in order to prepare the final final conclusion," adding that "hearing the second reading of the draft budget will be after the completion of the preparation of the final report."

    "The House of Representatives will continue to hold its sessions a day until the vote on approving the draft budget."

    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%3D3391074&usg=ALkJrhgrfbAiYOZ8UeMIsghU-avhOdooFw


  9. #9

    Re: The Dinar Daily, Monday January 5, 2015

    ​sczin11- This statement and the words ARE HUGE... Look at the reference to the investment laws...AS AMMENDED...

    Conscious / Chairman of the National Investment Authority: to provide all the facilities and investment guarantees for companies operating in Iraq


    Chairman of the National Investment Commission, Dr. Sami Raouf al-Araji said body said offers all the facilities and

    guarantees enshrined in the Investment Law No. 13 of 2006, as amended,

    for each investment companies

    operating in Iraq and wishing to work in it


    , including the Hanwha company implementing the project Basmajh housing, which is one of the largest strategic projects in Iraq and the region .

    He Araji in a statement received (news agency, media / INA) today during a meeting (Seung Yoon Kim) Prime Group of Companies South ھanwa Korean who has an inspection visit to the housing project Basmajh played one of his group companies implemented to support him for the project and those who support it: happiness rates progress taking place on the ground and fast delivery achieved besides being a brave and challenging a decision by the company to continue to work in Iraq efficiently in spite of the security situation through which the country.

    For his part, President of the new group of companies ھanwa Covenant made ​​by the group itself to the Iraqi people to do everything we can to complete the project within the residential Basmajh timely fashion for him, and it will be represented by an important role in solving the housing crisis in Iraq.

    ھanwa company employees and through working on the project for Saadtھm and Tkadirھm for this visit, Konھa an incentive and support them morally essential, which would redouble efforts to continue to work with all seriousness and commitment.

    This Kim urged his staff to continue achievement which had begun by saying: "I have changed a lot from here stuff compared with the first visit two years ago," stressing that this achievement does not take place without the strong support of the Iraqi of the National Authority for Investment for the success of this large residential project government .

    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%3D3391136&usg=ALkJrhjePFprozl1vwkDVBasXoXIOPTCGA

  10. #10

    Re: The Dinar Daily, Monday January 5, 2015

    Deputy: Baghdad and Erbil on the verge of understanding on oil and gas law



    BAGHDAD / Source News / .. said the Kurdistan Alliance member Mehdi Haj Issa, on Monday, that the governments in Baghdad and Erbil in the process of final understanding on oil and gas law. "

    He said Issa told / Source News / "This is very important for the region of Kurdistan and Baghdad, where the law has been formed special committees to reach an understanding about."

    "The Kurdistan region is making great efforts to pass the Act, which is expected from the political blocs to show positive attitudes about it," explaining that "the law and the reason for the delay in acknowledging a lot of problems between Baghdad and Erbil."

    Issa stressed "the need to put an end to the sharing of wealth through the law, which will be organized in a fair among the components of the Iraqi people."
    Plans Dr. Haider Abadi government resolve enactment of the oil and gas law, which sparked sharp differences between Baghdad and Erbil governments oil-producing provinces, taking advantage of the "positive atmosphere" between the political blocs in the House of Representatives, and expects the Commission on oil and energy parliamentary law was passed soon after the demise of the main obstacle to Thariah.anthy / 19 p

    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%3D3391204&usg=ALkJrhhNdyEb57m0GZWk-7O9JzmGzrjkuA

Posting Permissions

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