The Dinar Daily, Thursday May 14, 2015
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  1. #1

    The Dinar Daily, Thursday May 14, 2015

    CENTRAL BANK OF IRAQ

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000


    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1299.157 1298.508
    British pound GBP 1804.968 1804.066
    Canadian dollar CAD -------- --------
    Swiss franc CHF 1251.341 1250.716
    Swedish krona SEK 140.995 140.924
    Norwegian krone NOK 154.212 154.135
    Danish krone DKK 174.084 173.997
    Japanese yen JPY 9.737 9.732
    Special
    Drawing Rights
    SDR 1637.752 1636.933

    Indicative rates - (as of) 12.5.2015 (no change as of 14.5.2015)


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2949 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 11/05/2015 and the results were as follows:

    DETAILS NOTES
    Number of banks 18
    Number of remittance companies 1
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 143,644,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 143,644,000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 05-15-2015 at 10:02 AM.



  2. #2

    Re: The Dinar Daily, Thursday May 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
    Last edited by pinkadonai1; 05-15-2015 at 10:03 AM.

  3. #3

    Re: The Dinar Daily, Thursday May 14, 2015

    Barzani: money sent from Baghdad, much less than the benefits of Kurdistan



    Long-Presse / Sulaymaniyah The President of the Kurdistan Regional Government Nechirvan Barzani, on Thursday, that the money sent by the central government, "much less than" the Kurdistan region benefits according to the source of oil, and as pointed out that the money sent to the region has been increased by half the actual receivables, denied the existence of funds to the Kurdistan region in Commercial Bank.

    Said Nechirvan Barzani in a speech during the Regional Council for Oil meeting and gas and financial committees, natural resources and I followed, (range Press), that he "was supposed to send larger amounts us from the central government in Baghdad," noting, "The money sent from Baghdad was less than the maturity Kurdistan region by half. "

    He said Barzani, said that "the Baghdad government deducted from the money sent to the Kurdistan region, in Baghdad, 10% Airport, as it was withholding 50%, then reduced to 25%, then to 10%, under the pretext of the existence of sums of money for us in the Trade Bank of Iraq."

    He said Barzani, that "no money in our Commercial Bank, was confirmed by the Finance Committee and Ahmed Chalabi and Thamer Ghadhban in the minutes of their Rose Nuri Shaways, said that the Kurdistan Regional Government nothing to do with it."

    He said Barzani, that "the agreement with Baghdad are late in January and February and March months in the export of the designated quantity of oil but we exported agreed quantity in the month of April", stressing that "we were able to prepare the infrastructure for the month of April during the 15 days of the transfer and export of oil to the outside."

    The central bank in the Kurdistan region, announced on Monday (May 11, 2015), send the central government the amount of 543 billion Iraqi dinars to Erbil financial allocations for the month of April.
    The Ministry of Finance announced in the Kurdistan region, in the 11th of May 2015, the start of the pay of staff in the region for the month of March last, confirmed receipt of the amount of 488 billion and 700 million dinars from Baghdad, not 543 billion dinars.

    The head of the Kurdistan region Massoud Barzani stressed, in the 11th of May 2015, on the need to send the central government the region's share of the public budget to enable the province to pay his debts, and stressed that the Kurdistan region has the ability to oil export independently if did not receive its share, and as pointed out that the threat from al (Daash) is not over yet.

    He also accused the president of Iraq's Kurdistan Regional Government Nechirvan Barzani, on the tenth of May 2015, the central government "not to abide by the agreement oil site with Erbil in full," and renewed his government's commitment agreement, and as he emphasized that the region will seek to sign a new agreement with the central government if they deal with Kurdistan as buyers of oil, he pointed out that he would discuss with the leaders of the Patriotic Union of Kurdistan (PUK) situation in the region and the relationship with the central government.

    It agreed the Kurdistan Regional Government and the Parliament of the region, in the first of March 2015, to continue efforts to divert the region's share of the budget, and coordination of the formulation of strategic plans to address the financial crisis and the provision of staff salaries, and publish weekly information on the proportion of the production and export of oil, and the processing of all files and the current problems in the Kurdistan region in the legal framework.

    The Ministry of Finance in the government of the Kurdistan region of Iraq announced, in (6 May 2015), the central government has sent the amount of 543 billion dinars for the account of the Kurdistan region, while confirming that the amount transferred is against the oil exported from the region during the month of April.

    The two governments and the central province of Kurdistan agreed in (the second of December 2014), the allocation of part of the federal allocations of Iraqi ground forces to the Peshmerga forces, and delivery of the Kurdistan Regional Government, 250 thousand barrels of oil per day in addition to the export of Iraq 300 thousand barrels per day of Kirkuk oil.

    The agreement also included the granting trillion and 200 billion dinars for the Peshmerga forces and the allocation of a percentage of the budget of the Ministry of Defense them.

    http://www.almadapress.com/ar/news/48482/%D8%A7%D9%84%D8%A8%D8%A7%D8%B1%D8%B2%D8%A7%D9%86%D 9%8A-%D8%A7%D9%84%D8%A3%D9%85%D9%88%D8%A7%D9%84-%D8%A7%D9%84%D9%85%D8%B1%D8%B3%D9%84%D8%A9-%D9%85%D9%86-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-

  4. #4

    Re: The Dinar Daily, Thursday May 14, 2015

    Barzani and Talabani arrive parliament building to discuss Kurdistan Region’s budget

    Shafaq News / The President of Kurdistan Regional Government , Nechirvan Barzani , his deputy Qubad Talabani and a number of cabinet ministers have arrived to Kurdistan parliament
    building on Thursday morning, to meet with the Speaker of the parliament and the blocs affiliated to it to discuss the region’s budget and the economic crisis.

    A media source in Kurdistan Parliament told Shafaq News that a meeting is being held now in the parliament building to discuss the issue of the regional budget , the economic crisis and the recent oil agreement with Baghdad and the outstanding problems between the federal and the regional governments.

    The Iraqi Minister of Oil ,Adel Abdul Mahdi has arrived yesterday evening to Erbil to give explanations about the reason of deducting the region’s budget by the government of Iraqi Prime Minister ,Haider al-Abadi, but according to this media source, he will not participate in this meeting, which sits between the Government and the Parliament of the region.

    The Regional government is facing a severe financial crisis as a result of of Baghdad's lack of commitment to send the region’s share from the Iraqi general budget despite the oil agreement signed by the two parties during the formation of the current Iraqi government, headed by Haidar al-Abbadi as it was agreed for Erbil to export of 550 000 barrels of crude oil per day ; 250 000 barrels of Kurdistan fields and 300 000 barrels of Kirkuk fields for the benefit of the Iraqi Ministry of Oil through SOMO company , compared to Baghdad's commitment to send 17% of the general Iraqi budget to the region, but both parties allege non commitment by the other party to the agreement.

    http://english.shafaaq.com/politics/14348-barzani-and-talabani-arrive-parliament-building-to-discuss-kurdistan-region%E2%80%99s-budget.html

  5. #5

    Re: The Dinar Daily, Thursday May 14, 2015

    Pumping oil through Kurdish pipeline extended to Turkey resumed

    Shafaq News / A source said on Thursday that oil pumping has resumed in Kurdish pipeline that extends to the Turkish port of Ceyhan on the Mediterranean.

    Pumping has stopped on Tuesday for technical reasons, according to what Reuters reported , seen by Shafaq News.

    The Ministry of Natural Resources in Kurdistan Region had said a few days ago that the Government of the Region has exported during April, 0.16 million and 878 thousand and 985 barrels of crude oil in favor of the federal government in Baghdad with an average of 562 thousand barrels per day.

    These figures differ from the figures announced by the federal government earlier this month, noting that the exported quantities through the pipeline to the Kurdish Turkish port of Ceyhan totaled 13.5 million barrels

    Under the agreement between the two sides, Kurdistan is committed to export 550 000 barrels per day from its fields and Kirkuk fields in exchange for Baghdad payment to the region's share of the federal budget, amounting to 17 percent.

    Iraqi Minister of Oil , Adel Abdul-Mahdi arrived yesterday to Erbil to discuss with the Kurds leaders , the problems related to the budget, where the region complain of not receiving its full monthly share from Baghdad.

    http://english.shafaaq.com/business/14357-pumping-oil-through-kurdish-pipeline-extended-to-turkey-resumed.html

  6. #6

    Re: The Dinar Daily, Thursday May 14, 2015


    Abadi describes “Agitators " of Adhamiya incident as "not different from ISIS"
    Thursday, 14 May 2015 14:00

    Shafaq News / The Iraqi Prime Minister , Haider al-Abadi has described on Thursday, the perpetrators of sabotage acts in al- Adhamiya as

    "no different from ISIS terrorist organization".

    Abadi said during his visit this morning to Adhamiya city , Abu Hanifa Mosque and the Fiqh Council of Iraq, to ​​check on the security fully that "troublemakers among Iraqis are not different from ISIS who didn’t tolerate to see the people of Iraq united against terrorism."

    According to the statement, " al-Abadi praised the quick caution and awareness of the security forces , citizens and religious scholars to miss the opportunity on agitators who are not different from ISIS terrorist gangs ".


    http://english.shafaaq.com/politics/...rom-isis.html?

  7. #7
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    Re: The Dinar Daily, Thursday May 14, 2015

    Kurdistan received 450 000 barrels of oil per day to Baghdad



    BAGHDAD / Obelisk: Kurdistan province, was handed over by the government and based on the oil agreement about 450 000 barrels .Detecting the Commission on oil and energy parliamentary member Ibrahim Bahr al-Ulum for the Kurdistan region of Iraq to deliver 450 000 barrels of oil per day to be part of Iraq's oil exports through the SOMO.

    Uloum said a member of the coalition of citizen's statement followed the "Obelisk", the Kurdistan region was handed over by the government and based on the oil agreement about 450 000 barrels of oil based on the agreement called on the government to give the province money according to the quantities exported.

    Bahr al-Ulum expected to witness the beginning of the second half of this year, the completion of all obligations in terms of the region, which have been agreed upon before approving the budget, which ruled the extradition of the region 550 000 barrels per day of crude oil from Kurdistan and Kirkuk fields provided that the Government gives the balancing 17% of the total general budget Iraqi state.

    Relations between the federal government and the Iraqi parliament on the one hand and the Kurdistan Regional Government relative disorders in the relationship because of the statements that launches of officials from both sides about the lack of commitment to the oil agreement.


    https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Falmasalah.com%2Far%2Fnews%2F53103%2 F%25D9%2583%25D8%25B1%25D8%25AF%25D8%25B3%25D8%25A A%25D8%25A7%25D9%2586-%25D8%25AA%25D8%25B3%25D9%2584%25D9%2585--450-%25D8%25A7%25D9%2584%25D9%2581-%25D8%25A8%25D8%25B1%25D9%2585%25D9%258A%25D9%2584-%25D9%2586%25D9%2581%25D8%25B7-%25D9%258A%25D9%2588%25D9%2585&edit-text=&act=url
    Last edited by pinkadonai1; 05-14-2015 at 02:00 PM.

  8. #8
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    Re: The Dinar Daily, Thursday May 14, 2015

    Deputy: Kurdistan produces 800 000 barrels per day



    BAGHDAD / obelisk: KRG continuously sell oil outside the scope of the federal government since 2014. Said the Commission on oil and energy parliamentary member Zahid al-Abadi, Wednesday, that the Kurdistan region is produced from oil, about 800 000 barrels of oil per day, adding that the Kurdistan oil product exports through Ceyhan first two outlets, is a company SOMO, and the other is companies that trade non-Iraqi .

    He said al-Abadi, said in a statement, the center Brief that "the Kurdistan region of continuous sell oil outside the scope of the federal government since 2014, and he has to show good intentions and closes the informal port for export."

    It is said that the Prime Minister of the Kurdistan region Nechirvan Barzani, last Sunday, called on the Iraqi government to sign a new agreement with the Kurdistan, if it is to act as a buyer of oil Kurdistan.

    The oil minister arrived in the federal government, Adel Abdul Mahdi, to the Kurdistan region to discuss the oil agreement between the province and the center.


    https://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Falmasalah.com%2Far%2Fnews%2F53069%2 F%25D9%2586%25D8%25A7%25D8%25A6%25D8%25A8-%25D9%2583%25D8%25B1%25D8%25AF%25D8%25B3%25D8%25AA %25D8%25A7%25D9%2586-%25D9%258A%25D9%2586%25D8%25AA%25D8%25AC-800-%25D8%25A7%25D9%2584%25D9%2581-%25D8%25A8%25D8%25B1%25D9%2585%25D9%258A%25D9%2584-%25D9%258A%25D9%2588%25D9%2585
    Last edited by pinkadonai1; 05-14-2015 at 02:01 PM.

  9. #9

    Re: The Dinar Daily, Thursday May 14, 2015

    Iraqi forces curb sectarian riot as Shiite pilgrims observe major ritual in Baghdad
    English.news.cn 2015-05-14 18:34:52

    BAGHDAD, May 14 (Xinhua) -- Iraqi security forces responded to a sectarian riot overnight at a Sunni district in Baghdad as Shiite pilgrims observed a major ritual at a holy shrine, an Interior Ministry source said Thursday.

    The disturbance occurred late Wednesday when dozens of young men among the pilgrims attacked and set fire to the building of the investment department of the Sunni Endowment office, in Baghdad's northern district of Adhamiyah, the source told Xinhua on condition of anonymity.

    The office is responsible for running Sunni mosques across Iraq.

    Every year, Shiite pilgrims from Iraq and other Muslim countries walk through Baghdad's streets, including the Sunni district of Adhamiyah, heading toward the holy shrine district of Kadhmiyah, to observe the commemoration of the death of Imam Musa al-Kadhim, the 7th of the 12 most sacred Shiite Imams.

    Crowds also set fire to some houses and many cars nearby before security forces intervened and arrested several suspected rioters, the source said, adding that 15 people wounded in the chaos.

    Across the capital, authorities deployed more than 75,000 security members, manning dozens of checkpoints and patrolling the worshippers' routes, with army helicopters hovering overhead.

    A traffic ban was imposed inside and around the district of Kadhmiyah, and troops blocked many roads leading to the main pilgrim routes across the capital, in addition to blocking all entrances to the holy site.

    Only pedestrians were allowed but not before crossing several rings of security checkpoints.

    The office of Prime Minister Haider al-Abadi, who visited Adhamiyah and Kadhmiyah Thursday morning in the wake of the rioting, attributed the overnight chaos to "some infiltrators among the pilgrims" who were agitated by a rumor that terrorists wearing explosive belts attempted to attack the pilgrims.

    http://news.xinhuanet.com/english/20...134239466.htm?

  10. #10
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    Re: The Dinar Daily, Thursday May 14, 2015

    Kurdistan parliament threatens not to adhere to the Convention concluded with Baghdad unless the government provides the province's budget



    Follow-up - and babysit - threatened to President of the Kurdistan Parliament, Mohammed Yusuf, Thursday, non-compliance with the Convention concluded Arbil Kurdistan unless Baghdad provides balance and strengthened citizens.

    Said Mohammed in a joint press conference with the President of the Kurdistan Regional Government Nechirvan Barzani in the parliament building in Irbil that "the Iraqi government is required to abide by the Convention, and in the case of non-commitment to securing the budget and strengthened the people it according to the third paragraph of Article 11 of the Iraqi financial budget law for 2015, it Kurdistan Region has the right to non-compliance with the Convention. "

    Mohammed said that "the visions were consistent (with Nechirvan Barzani) that can not be Peshmerga forces fighting on the battlefield in exchange for cutting salaries, and in the case of non-commitment of the Iraqi government, the Kurdistan Parliament is responsible for providing salaries of the Peshmerga and other legal means."


    https://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Falrayy.com%2F141801.htm
    Last edited by pinkadonai1; 05-14-2015 at 02:18 PM.

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