The Dinar Daily, Friday April 10, 2015
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    The Dinar Daily, Friday April 10, 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


    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 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
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    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″..

    __________________________________________________ ______________


    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


    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.


    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.


    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.

    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,

  2. #2

    Re: The Dinar Daily, Friday April 10, 2015


    Maliki .. countdown to oust him from the leadership of the call

    Former Prime Minister Nuri al-Maliki suffered an embarrassing situation when he was ignored by the leaders and members of his party, not given the opportunity to delivering an address at the central celebration hosted by the invitation 35th anniversary of the execution of the former regime to the party's founder Muhammad Baqir al-Sadr, he left the party hall upset before the end of the celebration.

    Considered informed sources (Elaph) What happened to the owners during the festive party Islamic Dawa confirmation of the existence of differences within the party, adding that the majority of party members have objections to al-Maliki, and pointed out that the party wants to exonerate him of his actions, especially with the presence of more than one file will be raised against him The party apparently seeks to choose a new secretary has an alternative to the owners.

    Displeasure clear He expressed his former Iraqi Prime Minister current deputy prime Republic Nuri al-Maliki displeasure clear and left the room in which organized the central celebration hosted by the Rashid Hotel in central Baghdad Dawa party, and came after he gave Prime Minister Haider al-Abadi his speech, and was supposed to be the al-Maliki to lay down also a word, as Secretary General of the party, but the surprise occurred invitation representative Parliament Speaker Salim al-Jubouri, adviser Salah al-Obeidi, to lay down the floor, then the Maliki departing the hall and on the face of resentment signs, and was President Fuad Masum, and a number of ministers and political figures and Dinh and social were also present.

    Ignore intentional A number of attendees privately for (Elaph) for Andeachehem what happened, explaining that he ignored intentional, and confirmed that al-Maliki was in a very awkward position unenviable especially the celebration hosted by the Dawa Party, who is Nuri al-Maliki's leadership, noting that the leaders of the Dawa Party responsible for ceremonial ignored when al-Maliki did not give him a chance to deliver his speech what prompted him to leave the room and leave before the end of the celebration.

    They added that al-Maliki is ignored in this way, the guys yesterday, it was very awkward, especially as the applause and cheers to Mr. Abadi, the new editor champion also describes his followers, was remarkable.
    New split Said political analyst Dr. Ihsan al-Shammari political science professor, said what happened confirms that the present crisis between Abadi al-Maliki, said: Maliki began to feel that the scenario Ibrahim al-Jaafari (the current foreign minister Party leader previously) applied to him, an indicator of a new split in the Dawa Party, nor Ash_khasaat ruled out of the party.

    He added: Maliki still insist on political presence and weight of a large, and remove him from addressing Iatparvi view the continuation of a scenario remove him .. which can include leadership of the party.
    His party abandoned him For his part, noted writer Ali Ahmed Kadhim, that what happened to ignore it is to be expected, especially as al-Maliki is out of the aspirations of his party, and said: We were and are still dreaming of change for their civil state .. Maliki took for a period of 8 years presidency of the Government of Iraq has been unable to draw the state form appropriate after wasting more than $ 650 billion .. also not able to draw a foreign policy that supported Iraq in building the state, but that many of the crises have become attached to him after the revelation of facts after his departure from the prime minister.

    He added: Dawa Party does not want to be a partner of the owners or the appearance of guns with him or protector him just does not want to link their fate Maliki, so it appeared signs of dissent by this time, and try Maliki that restores control but to no avail because the majority of the members of his party became against him, so it is expected that al-Maliki as secretary of the party will continue in the coming days, especially with the postponement of a conference of the party was supposed to be held during the past days.

    He continued: Maliki was able to be everyone's crisis is not a solution with the Kurdish region and with the year, and could not talk to them, but continued to intersections without recourse to dialogue, in addition to the control of independent bodies and waste 8 budgets without building a single strategic project proud of him personally, at least, and this The whole was clearly evident to members of the Dawa Party, with the rise of Haider al-Abadi and moderation.
    Last edited by pinkadonai1; 04-10-2015 at 10:39 AM.

  3. #3

    Re: The Dinar Daily, Friday April 10, 2015

    Approaches to restructure the Rafidain and Rasheed

    Tomorrow Press / Baghdad: Parliamentary Finance Committee revealed on Friday that it is seeking to restructure the Rafidain and Rasheed and converted to the private sector to upgrade them and their development.

    Said committee member Majda al-Tamimi's "Tomorrow Press", "The restructuring meant separation from the owner and intended here banker separation Rafidain and Rasheed from the Ministry of Finance," pointing out that "this structure where large positive aspects of the two banks and the Iraqi economy."

    "The Committee examined the structure of the two banks with the Central Bank of Iraq during a meeting with him last week, and the Bank expressed its support and support for the project," pointing out that "the restructuring of banks law had existed since the previous session of Parliament and there was involvement of opinion by the World Bank."

    Tamimi explained that "the possibility of the two banks after liberation from the owner to participate competition with private sector banks, whether local or international, and also participates in the profit and loss, it will be known within the financial market."

    Tamimi and expressed "are concerns of delayed project restructuring of banks, because of its effects on the private banking sector, due to the volume of liquidity deposited with the banks."
    Last edited by pinkadonai1; 04-10-2015 at 10:41 AM.

  4. #4

    Re: The Dinar Daily, Friday April 10, 2015

    Mr. Sistani Abadi recommends three points

    Najaf / Center Brief for the Iraqi Media Network(IMN) - all of Prime Minister Haider al-Abadi and Vice President Nuri al-Maliki arrived in the morning to the city of Najaf, where he visited Abadi, the supreme religious authority Ali al-Sistani (long live).

    A reporter Center Brief in Najaf that "Mr. Sistani recommend the Prime Minister during his visit to three points on the security situation in the country."

    He said he recommended supporting the security forces and the popular crowd all possibilities and not to raise the image and pictures of religious men or banners in the liberated areas, demanding that the Iraqi flag is the only flag flying on Iraqi soil.

    He stressed the need to speed up the liberalization of all the cities of Conception terrorist gangs.
    The two sides also discussed the general situation for the displaced

    The correspondent of the (IMN) that Abadi, then went to the shrine of Mr. Shaheed Muhammad Baqir al-Sadr (Jerusalem secret) and it is hoped that he will hold a press conference this afternoon.
    From: Ahmed al-Moussawi, the Open: Sheikh Salem
    Last edited by pinkadonai1; 04-10-2015 at 10:42 AM.

  5. #5

    Re: The Dinar Daily, Friday April 10, 2015

    Kurds and Americans react to Biden’s praise for Iraqi unity

    WASHINGTON DC - By Yerevan Saeed - Kurds and Americans on social media networks reacted quickly to US Vice President Joe Biden’s speech on Thursday, in which he praised Iraqi unity.

    In response, some Kurdish tweeters called Iraqi unity “a joke,” while others blasted Biden for changing the position he adopted in 2006 about dividing Iraq into three autonomous regions.

    “Shia don't want to be ruled by Sunnis, Sunnis don't want to be ruled by Shia, Kurds don't want to be ruled by Arabs. Iraq unity is a joke,” was the online response Biden received from one Kurd.

    “We want what Iraqis want: a united, federal and democratic Iraq that is defined by its own constitution, where power is shared among all Iraqi communities, where a sovereign government exercises command and control over the forces in the field,” Biden said in his remarks at the National Defense University in Washington.

    In 2006 when he was Senator, Biden proposed a bill asking for the creation of three regions in Iraq, divided along ethnic and sectarian lines, as solution for the continued bloodshed in the country. The plan called for three Shiite, Sunni and Kurdish regions.

    But since becoming vice president under Obama, Biden has backtracked from his former position.

    Another twitter user named Andrew Thiel reminded Biden of his 2006 plan: “When Joe Biden said we should split Iraq into 3 countries, sunni, shiite, and kurd, I said it was an idea worth exploring.”

    “How many chances does a failed artificial state need?” Diyar Salih asked in reference to Iraq, which was cobbled together by the British in the early 1920s. “VP, is that what Iraqis want? Pretty sure the Kurds just want Kurdistan. You were right the 1st time.”

    Trust has been growing among Kurds, Shiites and Sunnis since Haider Abadi became Iraqi prime minister last summer, taking over from the wholly discredited and distrusted Nouri al-Maliki.”

    Biden has argued that the Islamic State (ISIS/ISIL) has strengthened Iraqi unity. He said that Kurds, Shiites and Sunnis have realized it is in their best interest to remain together.

    “But the irony -- the irony of all ironies -- is that Iraq was actually -- helped form its government because of ISIL. ISIL, the very outfit that intended to tear Iraq apart and establish a caliphate, it actually united Iraqis,” he added.

    “The Sunnis realized they preferred a united, federal Iraq under a new government to being at the mercy of ISIL or dependent upon the other Sunni states,” Biden said. “The Kurds realized that withdrawing from Iraq was not a viable option, and they did not want a terrorist state on their doorstep. I don’t know how many conversations I had with President Barzani relating to this. And the Shia, they realized they didn’t want to take on ISIL alone or become a vassal of a neighboring state.”
    Last edited by pinkadonai1; 04-10-2015 at 01:45 PM.

  6. #6

    Re: The Dinar Daily, Friday April 10, 2015

    Shiite officer: Fallujah 'surrounded' by Iraqi forces

    ERBIL, Kurdistan Region – By RUDAW - Shiite militias have surrounded Fallujah in Anbar province in preparation for an assault to recapture the ISIS-held city, a militia leader said on Friday.

    “Iraqi joint forces and militias from Hashd al-Shabi [Popular Mobilization Units] have encircled Karma town and Fallujah. They will enter Fallujah in a few hours,” said Juoma Fazea Joumaili, a PMU commander.

    “The reason we have been slow to advances was because of landmines planted by ISIS militants in Karma,” he added.

    Azaal Fahdawi, member of the Anbar provincial council, announced Friday that at least 80 percent of Karma is under the control of Iraqi forces.

    “The rest will be liberated in few days,” he added.

    According to the Anbar council, the Iraqi joint forces began the attack on Wednesday, targeting ISIS elements in Sajariyah town, in the west of Ramadi district in Anbar province.

    “Iraqi security forces, local police, anti-terror forces and at least 10,000 tribal gunmen with air support from the coalition are participating in Anbar province,” Sabah Karhut, council chairman, said earlier this week.

    According to Anbar officials, at least 80 percent of the province was overrun by ISIS militants prior since last year.
    Last edited by pinkadonai1; 04-10-2015 at 01:47 PM.

  7. #7

    Re: The Dinar Daily, Friday April 10, 2015

    Islamic State calls for death of 100 people in Fallujah

    FALLUJAH, Anbar Province – By RÛDAW Islamic group militants have published and announced in mosques the names of at least 100 people inside the Iraqi city of Fallujah to be executed for their lack of cooperation with the extremists, a local official told Rudaw on Friday.

    “They declared the killing of at least 100 local Fallujah figures to be halal [permitted by Islam] because they have not joined Daesh [Arabic acronym for ISIS] militias,” Nouri Aftan, head of a Fallujah citizens' committee, said in a press conference.

    “They have published and told the public the names of 100 figures who are disobeying the group,” he added.

    According to a Shiite military official, Iraqi forces and Shiite militias surrounded Fallujah on Friday in preparation of an assault to recapture the city that has been controlled by the jihadists since last year.

    Earlier this year, ISIS called for the death of at least 190 local tribal leaders in the group’s self-claimed capital of Mosul, Iraq’s second largest city.
    Last edited by pinkadonai1; 04-10-2015 at 01:48 PM.

  8. #8

    Re: The Dinar Daily, Friday April 10, 2015

    Officials: 2 bombings kill 11 people in Iraq

    BAGHDAD — By Associated Press Iraqi officials say two separate bombings have targeted public places in Baghdad and near the Iraqi capital, killing 11 people.

    Police officials say a suicide bomber set off his explosives vest at noon on Friday inside a small restaurant in the town of Mishada, killing six people and wounding 14. Mishada is 30 kilometers (20 miles) north of Baghdad.

    A little bit later, a car bomb blast in the downtown Karrada district in Baghdad killed five people and wounded 12.

    Hospital officials confirmed the casualty figures. All officials spoke on condition of anonymity because they are not authorized to talk to the media.

    Iraq sees near-daily attacks that are often claimed by the Islamic State group, which last year seized much of the country's northern and western region.
    Last edited by pinkadonai1; 04-10-2015 at 01:49 PM.

  9. #9

    Re: The Dinar Daily, Friday April 10, 2015

    Securities expects the number of shares traded for a hundred companies and put a project to diversify the financial tools to deal

    Long-Presse / Baghdad Tipped the Securities Commission on Friday, the high number of companies operating in the (SEC) from 82 currently to a hundred during the current year or next year, and unveiled a bill put forward by the diversification of financial transactions in the market tools in preparation for approval by the government and parliament.

    The head of the Iraq Securities Commission, Abdul Razzaq al-Saadi, said in an interview to the (long-Presse), "The Iraq Stock Exchange (KSE) is promising and can invest in almost real, despite the circumstances in which the country has seen," expected "to increase the number of operating companies in the market, from 82 currently to a hundred end of this year or next year. "

    Saadi said, that "the market traded companies ranging from banks, hotels, factories," noting that "the shares of those companies in the continuous trading will reflect positively on the Iraqi economy."

    The head of Iraq Securities Commission, that "the only trading tool in the Iraq Stock Exchange is currently the stock," and expressed hope that "poses other tools for trading in the market soon."

    Revealed Saadi, about the 'Ask Authority bill before the Council of State to diversify financial instruments to deal in the market, "likely" discussed in the government and parliament later in preparation for approval. "

    The Iraq Stock Exchange confirmed (April 2, 2014) that the trading stock indices rose by 93 percent during March last compared to last Bashbat, while showed that the amounts are also increased from 38 to 62 billion dinars, during the same period, attributed to corporate disclosure contributing to their financial statements.

    And announced the beginning of the current market in 2015, about 227 session held during the past year in 2014, noting that the trading volume reached 901 billion dinars.

  10. #10

    Re: The Dinar Daily, Friday April 10, 2015

    Economic Adviser to the servants, reducing salaries of state employees last thing the government would resort to him

    BAGHDAD / Baghdadi Uz..astbad Economic Adviser to the Prime Minister the appearance of Mohammed Khalaf, Thursday, reducing the salaries of state employees in the coming period due to the fall in oil prices.

    Khalaf said in an interview / Baghdadi News / "The government has taken a number of measures to get rid of financial distress experienced by Iraq because of lower oil prices in world markets, but these steps do not include reducing the salaries of state employees."

    "The financial assets sufficient to meet the state employees' salaries, especially after the sharp rise in the amount of oil exported to abroad."

    It is said that the speaker of parliament Saleem al-Jubouri said during a television interview at the possibility of reducing the salaries of state employees in the event of continued decline in oil prices in world markets. Ended 21 / j

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