The Dinar Daily, Tuesday April 14, 2015
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  1. #1

    The Dinar Daily, Tuesday April 14, 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, Tuesday April 14, 2015

    US dollar USD 1166.000 1164.000
    Euro EUR 1230.363 1229.748
    British pound GBP 1702.127 1701.276
    Canadian dollar CAD 925.250 924.787
    Swiss franc CHF 1182.796 1182.204
    Swedish krona SEK 132.068 132.002
    Norwegian krone NOK 143.936 143.864
    Danish krone DKK 164.675 164.593
    Japanese yen JPY 9.702 9.697
    Special
    Drawing Rights
    SDR 1594.610 1593.813
    Indicative rates - 14.04.2015
    Currency Auctions

    Announcement No. (2929)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 13/04/2015 and the results were as follows:

    DETAILS NOTES
    Number of banks 20
    Number of remittance companies 9
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 165,852,225
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 165,852,225
    Total offers for selling (US$) -----
    Last edited by sczin11; 04-14-2015 at 11:09 AM.

  3. #3

    Re: The Dinar Daily, Tuesday April 14, 2015

    Interior completed a contract to create a unified card and ePassport plant



    BAGHDAD - Iraq Press - April 14: Technical Advisor to the Ministry of the Interior Jawad Ahmed rhetorical team announced on Tuesday that the ministry has completed a contract to set up a unified card and ePassport plant.

    "The Interior Ministry has completed a contract to create a unified card lab and ePassport and that the ministry has formed a special committee to discuss with representatives of the company D & G Germany on completion of the project," pointing out that "the Commission has held several meetings and technical workshops for two years in order to reach the final formula for the establishment of a project National Standard card and electronic passport. "Admiral ended

    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%3D3716598&usg=ALkJrhhhLYk8SkT9JKrUGU4NDC6vZSwT2w


    Last edited by pinkadonai1; 04-14-2015 at 11:40 AM.

  4. #4

    Re: The Dinar Daily, Tuesday April 14, 2015

    House of Representatives held its headed by al-Jubouri, and preparing for the second reading of the law of parties



    The Council of Representatives, on Tuesday, its 28th headed Saleem al-Jubouri and presence of 220 deputies, while suggesting MP vows Fadhli that the meeting will see the continuation of the debate for the second reading of the draft law of parties.

    She Fadhli Radio tow "The House of Representatives held its 28th legislative chapter of the second headed by al-Jubouri, and the presence of 220 deputies," noting that "the meeting includes discussion of the report of the Committee on Culture and Information on the work of the Commission."

    She added that "the agenda of the meeting also includes the first reading of the draft exemption Iraqi and foreign companies implementing investment projects from taxes and fees Law, and the second reading of the bill to cancel the dissolved Revolutionary Command Council Resolution No. 959 of 1978 Act."

    And raised the Presidency of the Council of Representatives, in the April 6, 2015 to the parliament session on Tuesday, with a parliamentary source that the meeting saw the vote on the draft law amending the law of judicial duties.

    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%3D3716657&usg=ALkJrhgFVqDsB5VAroywRxnUjWOWcxXICQ
    Last edited by pinkadonai1; 04-14-2015 at 11:41 AM.

  5. #5

    Re: The Dinar Daily, Tuesday April 14, 2015

    Last edited by pinkadonai1; 04-14-2015 at 11:43 AM.

  6. #6

    Re: The Dinar Daily, Tuesday April 14, 2015

    Because of differences .. Legal Committee emphasizes that the adoption of the Federal Court Act will be long



    Confirmed by the Parliamentary Legal Committee Ibtisam al-Hilali, on Tuesday, that the adoption of the Federal Court Act requires a long time, as explained to highlight paragraphs of the law, which goes by the dispute in Parliament, is a question of law scholars and court number.

    Hilali said in a press statement that 'the House of Representatives managed to the second reading of the draft of the Federal Court Act, and through reading a lot of differences emerged on the paragraphs', stressing that 'the law is passed needs for a long time because of political differences, despite the importance of approval'.

    And showed told Alsumaria News that 'the most prominent points of contention between the political blocs on the law concerning the number of members of the Assembly of Muslim Jurists Court'.

    She Hilali, that 'there who wants to be a number of scholars and four members of the seven judges, and others are demanding that the number of scholars and judges, five of six, while there is another opinion does not want to have the Federal Court jurists'.

    Hilali They pointed out that 'there is a dispute about the least of the Federal Court Act of requesting some separation of the Federal Court for the Judicial Council, and others Araduha to be united with the Council'.

    The Parliamentary Legal Committee revealed on Saturday (21 March 2015), the Federal Court that the draft law in its current form has given authority to the Federal Court is greater than the judiciary, arguing that it violates the Constitution.


    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%3D3716664&usg=ALkJrhjrWwvX0m53SQr-1MDJJ_eKpzO8PQ
    Last edited by pinkadonai1; 04-14-2015 at 11:44 AM.

  7. #7

    Re: The Dinar Daily, Tuesday April 14, 2015


    sczin11- WHAT IS THE KEY TO PROSPERING ECONOMY? WE HAD A LENGTHY DISCUSSION IN CHAT YESTERDAY LATE AFTERNOON...

    TOURISM

    AND LOOK AT THIS AS WELL...

    Dubai International Airport (IATA: DXB, ICAO: OMDB) (Arabic: مطار دبي الدولي‎) is the primary airport serving Dubai,United Arab Emirates, and is theworld's busiest airport by international passenger traffic.[4] It is also the 6th busiest airport in the world by passenger traffic,[5] the 6th busiest cargo airport in world,[6] and the busiest hub for the Airbus A380.[7] In 2014, DXB handled 70.4 million passengers, 2.37 million tonnes of cargo, and registered 357,339 aircraft movements.[8]
    http://en.wikipedia.org/wiki/Dubai_I...tional_Airport

    AND

    HERES SOME MORE...The world's Muslim population is expected to increase by about 35% in the next 20 years, rising from 1.6 billion in 2010 to 2.2 billion by 2030, according to new population projections by the Pew Research Center's Forum on Religion & Public Life.
    *******************************************


    REPOSTED FROM LATE YESTERAY, AS BROUGHT INTO CHAT BY RCOOKIE...CHECK OUT THE LINKS TO THE DOCUMENTS...VERY INTERESTING...FOLLOW THE MONEY, AND THEIR ACTIONS!


    Compliments of Rcookie



    The World Travel & Tourism Council (WTTC) has been investing in economic impact research for over 20 years in order to assess and quantify the
    value of Travel & Tourism’s contribution to GDP and employment. We now produce reports and forecasts of the sector’s impact in 184 countries and 24 geographic and economic regions in the world. Our 10-year forecasts provide unique information and seek to better equip both public and private bodies with empirical evidence for their policy making and investment decisions.

    2013 proved to be another successful year for the Travel & Tourism industry. Our latest annual research, conducted in conjunction with our research partner Oxford Economics, shows Travel & Tourism’s contribution to world GDP grew for the fourth consecutive year in 2013, helped especially by strong demand from international travellers. Visitor exports, the measure of money spent by these international tourists, rose by 3.9% at a global level year on year, to US$1.3trillion, and by over 10% within South East Asia. It is clear that the growth in Travel & Tourism demand from emerging markets continues with pace, as large rising middle- classes, especially from Asia and Latin America, are willing and more able than ever to travel both within and beyond their borders.

    In 2013, Travel & Tourism’s total contribution to the global economy rose to 9.5% of global GDP (US $7 trillion), not only outpacing the wider economy, but also growing faster than other significant sectors such as financial and business services, transport and manufacturing. In total, nearly 266 million jobs were supported by Travel & Tourism in 2013 - 1 in 11 of all jobs in the world. The sustained demand for Travel & Tourism, together with its ability to generate high levels of employment continues to prove the importance and value of the sector as a tool for economic development and job creation.

    The outlook for Travel & Tourism in 2014 is also very positive, with Total Travel & Tourism GDP growth forecast to reach 4.3%. Much of this growth is being driven by higher consumer spending as the recovery from recession gathers pace and is becoming firmly established. Tourists are expected to spend more per trip and stay longer on their holidays in 2014, while long haul travel, especially among the European markets, is also expected to gain a greater share of international tourism demand. Profitability for travel companies should also start to edge up, bringing opportunities for further job creation in the process.
    Travel & Tourism forecasts over the next ten years also look extremely favourable, with predicted growth
    rates of over 4% annually that continue to be higher than growth rates in other sectors. Capitalising on the opportunities for this Travel & Tourism growth will, of course, require destinations and regional authorities, particularly those in emerging markets, to create favourable business climates for investment in the infrastructure and human resource support necessary to facilitate a successful and sustainable tourism sector. At the national level, governments can also do much to implement more open visa regimes and to employ intelligent rather than punitive taxation policies. If the right steps are taken, Travel & Tourism can be a true force for good.
    David Scowsill
    President & CEO WTTC


    http://www.wttc.org/-/media/files/reports/economic%20impact%20research/regional%20reports/middle_east2014.pdf
    Last edited by sczin11; 04-14-2015 at 01:23 PM.

  8. #8

    Re: The Dinar Daily, Tuesday April 14, 2015

    Jaafari calls for Qatar to open its embassy in Baghdad



    BAGHDAD / Obelisk: Jaafari stressed the need to "open the Embassy of the State of Qatar in Baghdad."Foreign Minister Ibrahim al-Jaafari, on Tuesday, the State of Qatar to the need to open its embassy in Baghdad and the resumption of relations between the two countries, pointing to the desire of the Iraqi government to visit the Qatari Prime Minister and Foreign Minister of Qatar to Baghdad.

    Jaafari said in a statement seen by "obelisk" today, Qatari Prime Minister Abdullah bin Nasser bin Khalifa and Foreign Minister Khalid bin Mohamed al-Attiyah, said that "the president who issued two meetings axis was to emphasize the need to resume, and the strengthening of relations between the two countries," he said, adding that "The views were close to a large extent."

    Jaafari stressed the need to "open the Embassy of the State of Qatar in Baghdad," explaining that "Iraq and Qatar, two sisters linked by many participants."

    He pointed to "the desire of the Iraqi government in the Qatari Prime Minister and Foreign Minister's visit to Baghdad."

    Iraq seeks to strengthen its relations with the regional and international environment, especially a running uphill battle against al "Daash", as Prime Minister Haider al-Abadi said in more than one occasion, Iraq is keen to build good-neighborly relations with the surrounding countries, and stressed the need for those countries offering all humanitarian and military support for Iraq types.

    It is said that al-Jaafari arrived, yesterday the first Sunday (April 12, 2015), to the Qatari capital Doha to participate in the work of the Thirteenth United Nations Congress on Crime Prevention and Criminal Justice.


    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%3D3716778&usg=ALkJrhgAAnUhKQbjRNIJan7DtN4My68_TA
    Last edited by pinkadonai1; 04-14-2015 at 11:47 AM.

  9. #9

    Re: The Dinar Daily, Tuesday April 14, 2015

    sczin11- JUST LOOK AT THESE PROJECTIONS...AT 1166 DINAR TO 1 USD...RIGHT?

    Oil: We aim to produce six million barrels by 2018



    BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - a spokesman for the Oil Ministry, Assem Jihad said the plan under which the ministry is working now aims to reach oil production capacity to six million barrels per day by 2018.

    He Jihad's (IMN), that "urged foreign companies to increase production to compensate for the oil revenue shortfall, and production of oil will be reflected on oil exports, and this will impact on revenue," pointing out that "the ministry has mobilized all its efforts to achieve that."

    He explained that "the ministry is seeking to attract international investments in the field of gas, refineries and factories, petrochemical industry," stressing that "the ministry's success in the conclusion of a memorandum of understanding with the Ministry of Industry and with international companies such as Company (Shell) and (Total), is hiring and investment optimization of the oil wealth."

    He continued that "the ministry's plan in cooperation with the oil companies that won licenses tours to achieve the goal of increases in oil production, although the challenges facing the country to get to the production rates of up to four million barrels end of this year."

    The Ministry of Oil has signed a memorandum of understanding with the French company Total investment for the establishment of the largest petrochemical project in southern Iraq, and the establishment of such a project would make Iraq the largest producer of petrochemicals in the Middle East.

    From: Nassar al-Haj, the Open: Laith Mohammed Reza

    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%3D3716714&usg=ALkJrhjuwaq1p83Ru6zIVhT880XxAQl24Q
    Last edited by pinkadonai1; 04-14-2015 at 11:50 AM.

  10. #10

    Re: The Dinar Daily, Tuesday April 14, 2015

    ​sczin11- WHAT IS THE REASON FOR THESE DESIRES/DESIGNS? TOURISM!


    Department of Transportation put designs for 16 railway project linking Iraq to neighboring countries -



    The Ministry of Transport announced placed designs for 16 railway project linking Iraq to neighboring countries.

    The Ministry of Transport said it aims to link Iraq, China and East Asian countries by rail, which was signed between the Iraqi side and Iran, noting that the agreement is of great economic returns, as shown that the cost per kilo per meter of which is from 20-25 million dollars, confirmed that The problem is how to fund these projects, comes this economic cooperation between Iraq and Iran in parallel with the security and political cooperation, which seemed to escalate slowly in front of timid, according to observers Arab initiatives.

    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%3D3716749&usg=ALkJrhg94121eP-074KnPtjwH7orsdFhvQ
    Last edited by pinkadonai1; 04-14-2015 at 11:52 AM.

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