The Dinar Daily, Monday March 2, 2015
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  1. #1

    The Dinar Daily, Monday March 2, 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

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    http://articles.latimes.com/1991-03-..._kuwaiti-banks


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,
    Kevin



  2. #2

    Re: The Dinar Daily, Monday March 2, 2015

    US dollar USD 1166.000 1164.000
    Euro EUR 1310.584 1309.929
    British pound GBP 1799.021 1798.122
    Canadian dollar CAD 932.203 931.737
    Swiss franc CHF 1228.921 1228.306
    Swedish krona SEK 139.320 139.251
    Norwegian krone NOK 152.856 152.779
    Danish krone DKK 175.542 175.454
    Japanese yen JPY 9.777 9.772
    Special
    Drawing Rights
    SDR 1641.017 1640.196
    Indicative rates - 02.03.2015

  3. #3

    Re: The Dinar Daily, Monday March 2, 2015


    sczin11= VERY INTERESTING APP FOR IRAQ..KEEP TRACK OF CASES IN COURTS

    Iraqi judiciary is called an application on smartphones



    03/02/2015 12:22:00




    Iraqi judiciary is called an application on smartphones

    The federal judiciary announced the launch of an application on mobile phones and screens, as she noted that the application allows judicial breaking news service, confirmed that it comes within the framework of its efforts to communicate with a broader audience.
    The judge said Abdul Sattar Bayrakdar spokesman for the federal judiciary that "the Media Center for the judiciary launched an application on mobile phones and smart screens."
    Bayraktar said that "This application allows the holders of these devices to enjoy breaking news on the Elimination service as well as it contains doors for investigative journalism and the decisions of the Federal Cassation Court and Supreme Federal Court."
    He said, "Free the application, and everyone can install it by searching the electronic stores (Apple Store and Android) words (federal judiciary)."
    He also confirmed that "the application represents a new and unique experience in the work of state institutions, the media," pointed out that "comes in the context of the pursuit of the judiciary to communicate with the wider media and the public within its strategy."
    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%3D3573412&usg=ALkJrhj1fWka0l5u7K61GsX1gn3KI-fPUg


  4. #4

    Re: The Dinar Daily, Monday March 2, 2015

    Parliamentary Finance hosts the Governor of the Central Bank and looking him Cancel zeros from currency



    [Baghdad-where]Parliamentary Finance Committee discussed on Monday with the central bank governor Ali Mohsen Keywords Cancel zeros from the currency.

    Correspondent agency all of Iraq [where] that "the parliamentary Finance hosted a morning on the Keywords to discuss the issue of the Iraqi dinar and the abolition of zeros from the currency, as well as discuss the charges on the Director-General of the Iraqi Commercial Bank Hamdiya dry."

    The National Alliance MP Yasser al-Hassani called on the government to prevent travel Director-General of the Iraqi Commercial Bank [TPI] [Hamdiya dry "because of the theft of more than two billion dollars have been converted to the Kurdistan region," he Colh.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%3D3573099&usg=ALkJrhix2qULLU07PRhLsdGhncFPxPy_7g
    Last edited by pinkadonai1; 03-02-2015 at 11:44 AM.

  5. #5

    Re: The Dinar Daily, Monday March 2, 2015

    Parliamentary Finance held a meeting with Keywords and dry to discuss the transfer of funds to Kurdistan without collateral



    Alsumaria News / Baghdad Central Bank decides to support banks five trillion dinars and finance the budget six trillion dinars
    Central Bank decides to five banks to support ...

    Parliamentary Finance Committee held on Monday, meeting with the Governor of the Central Bank and the Agency on the Keywords and director of TBI Hamdiya dry to discuss the financial situation and the issue of transfer of funds from the commercial bank to Kurdistan without collateral.

    The parliamentary source said in an interview for " Alsumaria News "that" the parliamentary Finance Committee held today a meeting with the Governor of the Central Bank and the Agency on the Keywords and director of TBI Hamdiya dry. "

    The source, who asked not to be named, said "the meeting comes to discuss the financial situation and the issue of transfer of funds from the commercial bank to Kurdistan without guarantees."

    Revealed the Liberal bloc, Tuesday (February 24, 2015), for the Director General of the Iraqi bank commercial Hamdiya dry lend the central bank in the Kurdistan region, an amount of two billion and a half billion dollars without any guarantees, and showed that the dry sought refuge with her children out of Iraq.

    In addition, dry expressed surprise at the charges against her on central bank lending Kurdistan sum of money, stressing that this speech "is not accurate."

    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%3D3573091&usg=ALkJrhh-e8rrvVuy5a9nOwWSLY4sGG-itA
    Last edited by pinkadonai1; 03-02-2015 at 11:47 AM.

  6. #6

    Re: The Dinar Daily, Monday March 2, 2015

    Iraq's Oil Minister Adel Abdel Mehdi speaks during a news conference in Baghdad March 1, 2015. REUTERS Photo.



    Baghdad and Kurdish regional authorities are making progress to rescue a deal over crude oil exports, Iraq's oil minister said on March 1, after it nearly unravelled due to Kurdish threats to halt shipments in protest over lack of payment.

    Adel Abdel Mehdi said both sides would gain from preserving the December accord, under which the Kurds ship oil from their own territory and the Kirkuk oilfield under Baghdad's control, in return for payments from the national government.

    But Baghdad paid only a fraction of the agreed cash to the Kurdish authorities, arguing that the oil shipped did not nearly match the expected volumes.

    "The agreement with the Kurdish regional government still stands," Oil Minister Adel Abdel Mehdi told a news conference.

    "Everyone achieves substantial benefits from the deal. Today, thanks to the use of the region's (Kurdistan) pipelines, we are able to resume exports from Kirkuk oilfields which were threatened by deterioration due to the halt of production."

    Under the deal, the Kurdish Regional Government (KRG) agreed to export via Turkey 550,000 barrels per day from its own fields and from Kirkuk, through Iraq's state marketing authority SOMO.

    In return, Baghdad pledged to reinstate budget payments to the Kurds, which it had cut early in 2014 as punishment for the region's moves to export oil independently.

    Abdel Mehdi said SOMO was only receiving 300,000 barrels per day at the Turkish terminal of Ceyhan, barely half the agreed volume, but that the amount would increase.

    "By the end of the year we will reach an average of 550,000 barrels per day," he said."There are obstacles, there are problems. All these issues can not be resolved in one go, but in stages. And we are making progress."

    The December agreement was hailed as a breakthrough in helping Iraq increase oil exports at a time when revenues are strained by low global prices and the cost of financing a war against Islamic State militants in the north and west.

    Abdel Mehdi said oil prices were rebounding gradually and he expected to see a barrel of crude sell for $ 64 to $ 65, up from a low of $ 45 in January but still sharply down from highs of $ 115 last June.

    The low oil prices have led to delay in payments of international oil companies, with accumulated dues since 2013 reaching more than $ 20 billion, the minister said.

    He said the state budget had allocated 14 trillion dinars ($ 11.8 billion) partly to cover those payments, and the ministry was working on a $ 12 billion treasury bond to cover the remainder.

    "If we do not provide these payments we might face penalties or a production cut will occur," he said.

    Abdel Mehdi said the ministry was reviewing service contracts with the oil companies, citing "some shortfalls and some obstacles" in the deals, but gave no details.

    He said the review was taking place in agreement with the oil firms, but dismissed reports that Iraq would move to production sharing deals."We are still in the pattern of service contracts and we have not entered in production sharing contracts. This issue is premature," he said.March / 02/2015


    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%3D3573462&usg=ALkJrhiVgx-bwvLHUlfBBJitaPU64u1SMA
    Last edited by pinkadonai1; 03-02-2015 at 11:48 AM.

  7. #7

    Re: The Dinar Daily, Monday March 2, 2015

    Iraq Stock Exchange index stop "ISX37" tested "ISX60"



    Cairo - direct:
    Iraq Stock Exchange announced on Monday that it had suspended index "ISX37" so as to double the representation of companies in the sample for the movement and direction of the market by including accurate.

    The bourse said in a statement posted on its official website, it is currently testing to measure the index "ISX60".

    The stock market has been noted that "ISX60 index" is used to measure the index of the trading system X-stream through calculated in each session of a sample of (60) listed company as of February 9, 2015.

    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%3D3573607&usg=ALkJrhhhyJnSjngHgnGjkqUgRB9fUO18Jw




    Last edited by pinkadonai1; 03-02-2015 at 11:50 AM.

  8. #8

    Re: The Dinar Daily, Monday March 2, 2015

    Repeat from Late Yesterday

    Iraq owes the oil companies billions



    BAGHDAD / Obelisk: Iraqi Oil Minister Adel Abdul-Mahdi said Sunday that his country is the city of twenty billion US dollars to oil companies operating in the country, amid the sharp decline in oil prices, which constitutes the vast majority of the country's resources.

    Abdul-Mahdi said the minister at a press conference "with the financial squeeze that has occurred, there Pena between oil companies and financial benefits."

    "We have paid off in 2014 some dues in 2013, and we went from 2014 to 2015 some dues in 2014, and we have dues in 2015 ... These are all large sums are enormous, exceeding twenty billion dollars."

    The minister stressed that the money should provide the exporters, one of them amounting to 14 trillion Iraqi dinars Ministry's budget (about $ 12 billion), and the second demand the right of the Ministry of the Prime Minister and Finance Minister, "the launch of treasury bonds worth 12 billion dollars."

    He continued, "We started relevant procedures in order to cover the dues companies."

    And operates major oil companies to extract oil from Iraqi fields, especially in the south, including the "Total" French and "Shell" Dutch "and" ExxonMobil "American and" BP "British.

    The minister said that in case "did not provide the amounts, there are penalties you will get and the reduction of production or going to the debt," stressing confidence in to fulfill Iraq's obligations because it "is important for a good relationship between us and companies, in order to continue oil production, not the current level but the required altitude."

    In addition, Abdul-Mahdi predicted the high price of a barrel of oil prices, which have collapsed by more than half over the past year, Iraq liver losses in revenue derived about 90 percent of its oil exports.

    "The esteem in which Tbnaah formerly decline hit bottom, when he was up to $ 44. Now I am starting price (rise) gradually," likely "The oil is sold at 64 and $ 65" per barrel.

    And select the price of a barrel of oil in Iraq's budget for 2015 at $ 56, note that the government has been listed price of $ 60 in the bill sent to the House of Representatives, but the latter price cut due to the continued decline in global prices.

    http://almasalah.com/ar/news/48504/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%85%D8%AF%D9%8A%D9%86-%D9%84%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%81%D8%B7%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D9%85%D9%84%D9%8A%D8%A7


    COMMENT : WHY IS IT THAT INTERNATIONAL INVESTMENT SHOULD FLOCK INTO IRAQ IF OIL COMPANIES ARE OWED BILLIONS ? WHO CAN MAKE MONEY IN IRAQ OR PROTECT THEIR INVESTMENT UNDER THE PRESENT CIRCUMSTANCES ? - chattels

  9. #9

    Re: The Dinar Daily, Monday March 2, 2015

    House of Representatives finish the first reading of the law of the National Guard

    Parliament session (archive)

    Tomorrow Press / Baghdad: the House of Representatives ended the first reading of the law of the National Guard during today's session.

    A parliamentary source for "tomorrow Press", "The Council completed the first reading of the law of the National Guard, and continued its agenda."

    The agenda of Spyker report session agenda, and display of Health and Environment Committee's report and vote on the draft of the Fourth Amendment to the Law street paving Law No. (85) of 1963, consisting of three materials submitted by the Commission services and reconstruction, and vote on the proposal of the First Amendment to the Law of judicial investigators privileges Law No. (80 ) for the year 2012, consisting of four articles submitted by the (Legal Committee, the Finance Committee).

    As well as the first reading of a bill to impose fees on vehicles for the purposes of street maintenance and bridges provided by the Commission services and reconstruction, and the Finance Committee Act, and the second reading of the draft labor law, consisting of 157 items submitted by the (Committee on Labour and Social Affairs, the Committee on civil society organizations, the Legal Committee).


    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%3D3573824&usg=ALkJrhhHTZ8rXIjeEFCOzBidI7aezNEhzw
    Last edited by pinkadonai1; 03-02-2015 at 12:02 PM.

  10. #10

    Re: The Dinar Daily, Monday March 2, 2015

    Parliament News

    Parliament to host Abadi in its Monday session

    Monday, 02 March 2015 12:03

    Baghdad (AIN) –The parliament will host the Prime Minister, Haider al-Abadi, in its session of Monday.


    A parliamentary statement received by AIN cited "The parliament agenda includes voting on some law drafts and the first reading of the National Guards law drafts submitted by the Security and Defense Committee and comprises 22 articles."

    "The parliament will host Abadi to discuss the National Guards law draft," the statement concluded.

    http://www.alliraqnews.com/en/index....y-session.html

    and

    Parliament session starts

    Monday, 02 March 2015 12:40

    Baghdad (AIN) –The parliament session of Monday has started with the participation of the MPs of the National Powers Union.

    The reporter of All Iraq News Agency (AIN) stated "The parliament session headed by the Speaker, Saleem al-Jobouri, and was attended by the MPs of the UNP who boycotted the session before some days protesting assassinating the Chieftain Qasim al-Siwaidan."

    http://www.alliraqnews.com/en/index....on-starts.html

    and

    Parliament held its host Abadi presence of coalition forces

    http://www.almadapress.com/MediaStor...ages/17799.jpg

    The Council of Representatives, on Monday, the 18th of its second legislative term legislative year, the first headed by Salim al-Jubouri, and the presence of 225 deputies, including deputies coalition forces, while the host will see the Prime Minister Haider al-Abadi and vote on bills and the first reading of two bills session. A parliamentary source said in an interview with the (long-Presse), said that "the Iraqi Council of Representatives held at noon today, its 18th of the second legislative term legislative year, the first under the chairmanship of President Salim al-Jubouri, and the presence of 225 deputies, including deputies coalition forces," noting that "the meeting will host Prime Cabinet Haider al-Abadi. " The source, who asked not to be named, said: "the meeting will vote on a draft of the Fourth Amendment to the law of the street paving Law No. (85) of 1963, and vote on the proposal of the First Amendment to the law judicial investigators privileges No. (80) for the year 2012, and the reading of the Health Committee report and the environment around the work of the Commission. " The source continued that "the meeting includes the first reading of the draft law of the National Guard, and the first reading of the draft charging for vehicles for the purpose of maintenance of streets, bridges law."

    He was placed political source revealed, Monday, (March 2, 2015), the powers that the Union will announce the end the boycott of the meetings of the House of Representatives today such as throwing Prime Minister Haider al-Abadi speech in the House of Representatives review the political commitment with Sunni forces, as he emphasized that Abadi for attending scheduled this morning to the House of Representatives to the afternoon without knowing the reasons.

    The Presidency of the Council of Representatives of Iraq lifted, the first on Saturday (February 28, 2015), the 17th session of the second legislative term legislative year, the first to, on Monday, after a delay the display of the Federal Court's decisions about switching the House of Representatives and the second reading of the bill and vote on bills and end reading the first and second of three bills.
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    House of Representatives finish the first reading of the law of the National Guard
    Parliament session (archive)

    Tomorrow Press / Baghdad: the House of Representatives ended the first reading of the law of the National Guard during today's session. A parliamentary source for "tomorrow Press", "The Council completed the first reading of the law of the National Guard, and continued its agenda." The agenda of Spyker report session agenda, and display of Health and Environment Committee's report and vote on the draft of the Fourth Amendment to the Law street paving Law No. (85) of 1963, consisting of three materials submitted by the Commission services and reconstruction, and vote on the proposal of the First Amendment to the Law of judicial investigators privileges Law No. (80 ) for the year 2012, consisting of four articles submitted by the (Legal Committee, the Finance Committee). As well as the first reading of a bill to impose fees on vehicles for the purposes of street maintenance and bridges provided by the Commission services and reconstruction, and the Finance Committee Act, and the second reading of the draft labor law, consisting of 157 items submitted by the (Committee on Labour and Social Affairs, the Committee on civil society organizations, the Legal Committee). Department of Labor announces determine on Tuesday as the date for the disbursement of salaries of workers secured
    http://tinyurl.com/kpnwu5f

    Department of Labor announces determine on Tuesday as the date for the disbursement of salaries of workers secured

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    Last edited by chattels; 03-02-2015 at 06:42 PM.

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