The Dinar Daily, Friday May 22, 2015
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  1. #1

    The Dinar Daily, Friday May 22, 2015


    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1296.359 1295.711
    British pound GBP 1809.749 1808.844
    Canadian dollar CAD 954.799 954.321
    Swiss franc CHF 1241.350 1240.729
    Swedish krona SEK 139.005 138.935
    Norwegian krone NOK 154.374 154.297
    Danish krone DKK 173.778 173.691
    Japanese yen JPY 9.647 9.642
    Drawing Rights
    SDR 1634.172 1633.355

    Indicative rates - (as of) 21.5.2015 (no change as of 22.5.2015)

    Currency Auctions

    Announcement No. (2954 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 20/05/2015 and the results were as follows:

    Number of banks 14
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 145,249,494
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 145,249,494
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 05-23-2015 at 10:15 AM.

  2. #2

    Re: The Dinar Daily, Friday May 22, 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,
    Last edited by pinkadonai1; 05-23-2015 at 10:16 AM.

  3. #3

    Re: The Dinar Daily, Friday May 22, 2015

    Global oil prices touching 66 dollars a barrel amid expectations constantly rising

    Long-Presse / Baghdad Agency announced a global news, Thursday, for the high price of Brent crude oil, to $ 66 a barrel, attributed to the expectations of a decline surplus rate of supply in the market, and the increased intensity of the fighting in Iraq, while the likely global economic expert and oil prices to $ 70 a barrel because of geopolitical conditions.

    The Reuters news agency, in a report I followed (range Press), said that "the report of the US oil equipment, issued on Wednesday, (the twentieth of May 2015), revealed a drop in crude oil storage rates for the third consecutive week," noting that "rates of inventories Reserve reached record levels due to over-processing is concerned Ptozm storage capacity due to lack of processing ".

    According to the agency, that "the price of Brent crude increased by 80 cents, according to stock exchange, on Thursday, to close at $ 65.83 a barrel, after earlier falling at a price of $ 64.83, while US crude oil rose by 69 cents to $ 59.67 a barrel."

    Reuters quoted, for an economist, Christopher Bellew, of Jeffrey Bish Foundation Consulting, as saying that "the price of Brent crude is exposed to incentives to rise as a result of the organization of threats (Daash) suffered by Iraq," likely "continuation of oil prices more to climb because of the geopolitical situation to reach to $ 70 a barrel. "

    The oil prices touched 120 dollars a barrel last summer, before losing almost 60 percent of its value, resulting in a great loss for the producing countries, including Iraq, influenced too much on economic conditions.

    And Brent or Brent, according to the free encyclopedia, is the crude oil used as a standard two-thirds of the world's oil production for the pricing, especially in the European and African markets, and consists Brent oil blend of 15 different fields in the regions of Brent and Tinian (some of them located in the United Kingdom and others in Norway ), which together produce about 500 thousand barrels per day, and is of light oil types because of the specific weight, based on the differences between him and other raw materials, it is generally sold at a higher price of OPEC oil basket about dollars per barrel, and despite the fact that European countries consume most of the production of crude Brent, but sometimes exported to the United States and some African countries.

    Last edited by pinkadonai1; 05-22-2015 at 10:15 AM.

  4. #4

    Re: The Dinar Daily, Friday May 22, 2015

    CoM assigns project of drilling 66 oil wells in oilfield west of Al-Qarnah/2 to Chinese company

    Baghdad (Forat) –The Council of Ministers approved during its session today the recommendations by the Governmental Committee of Economic Affairs by assigning the project of drilling 66 oil wells in the oilfield west of Al-Qarnah/2 to a Chinese company ” /End/

  5. #5

    Re: The Dinar Daily, Friday May 22, 2015

    U.S. supplies Iraq with 2,000 anti-tank weapons

    Baghdad (Forat) -U.S. Defense Department announced it is sending 2,000 anti-tank weapons to Iraq to help Iraqi forces in fighting the Islamic State (IS).

    The weapons will arrive as early as next week, the department spokesman Steve Warren said in a statement, adding that the U.S. is also expediting the delivery of ammunition and other equipment in order to counter IS' increasing reliance on vehicle-borne bombs.

    Over the last 30 days, the U.S. also helped deliver coalition donations of 22 million rounds of small arms ammunition and 12,000 mortar rounds to the Iraqi army, Warren said.

    Since Iraqi Prime Minister Haider al-Abadi's visit to Washington in April, the U.S. has also delivered 250 mine-resistant, ambush-protected (MRAP) vehicles, 2,000 Hellfire missiles, 10,000 sets of body armor and helmets, and millions of rounds of ammunition, including small arms, tank artillery and anti-tank weapons.

    The weapons are for the central government of Iraq to distribute to its army, as well as Kurdish and Sunni fighters, according to Warren.

    The U.S. has insisted that its strategy of bolstering a strong central government in Iraq, rather than sending arms directly to the Kurds and Sunnis, is the best course of action against IS./End/
    Updated: 2015/5/22 14:18

  6. #6
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    Re: The Dinar Daily, Friday May 22, 2015

    Parliamentary Economy: private banks experiencing financial shortage and the government support

    Friday, May 22, 2015

    BAGHDAD / integrity -He said a member of the economic and investment commission in Parliament that the private banks experiencing financial shortage and the government's support.

    And between Ahmed Salim said "there are several doors that can open in front of the Iraqi economy, including investment door, in addition to the modifying Law No. 13 to bring in capital," adding that "what is going through the country is directly linked with the economy and has a negative impact what makes the market In the case of an ongoing recession. "

    He said that "to deal with the market situation at the moment has to be for the government to support private banks amounts of loans from the central bank according to the standards and controls," noting that "most of the banks are suffering a shortage of funds due to lack of money in the market trading properly to the scarcity of the currency and this is reflected in the sector and the private traders in general. "

    He continued sound that "the country is in crisis, security in light of the economic crisis and there are many reforms on the side of the economic sector of Iraq, including opening the doors to global banks and the exchange of bonds by private banks and partners in this aspect and all that enters in the revitalization of the Iraqi economy factors".

    He noted that "the parliamentary committee the economy has a lot of reforms in the Iraqi economy, but it must be the stability of the security situation."

    Iraq plans to request emergency funding of $ 400 million to $ 700 million from the International Monetary Fund, while the government made a decision to issue government bonds worth $ 5 billion, and it continues to negotiate on their own terms.

    And pass the country in a state of fiscal austerity and crisis in the provision of cash called on the government to think about and study to extend the payment of staff salaries period to forty days instead of a month and the imposition of numerous taxes to cover the deficit in Almoisnh.anthy 4

  7. #7
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    Re: The Dinar Daily, Friday May 22, 2015

    World Food Program announces its need for $ 108 million for Iraq

    Friday, May 22, 2015 13:10

    Baghdad / follow-up Baghdadiya News / ... announced the World Food Program of the United Nations, on Friday, on the need for $ 108 million to continue its work in Iraq until next October.

    The Director of the Information Office of the Program Elisabeth Byrs, that "the work program plan are subject to a stop in areas in which it operates if there were no financial contributions in a timely manner."

    Byers added that "the lack of funding to pay the UN to reduce the size of the monthly food rations distributed to displaced families outside the camps while it is almost entirely dependent on aid.

    She said Byers "continued distribution of food aid operations in Anbar province to support the tens of thousands who continue to flee the fierce fighting gray area." Byers pointed out that "about 25 000 people have received emergency food assistance, yesterday, in Habbaniyah, west of Baghdad, while additional supplies are needed enough for about 15 000 displaced people on their way to Amiriya in Fallujah."

    Byers He noted that the program provided in last week's emergency supplies to more than 45 000 people in all parts of the affected areas, especially that most families had fled the violence in Ramadi, without food, water or shelter, but they did not know where to Flee "..
    Byers confirmed that "the situation of these fugitives can be summarized in that they need almost full to all humanitarian assistance requires support from the international community to respond quickly to their plight." It ended 21 / l
    He noted that the number of beneficiaries of food internationalist program since the beginning of the crisis of Ramadi on 10 April this year amounted to more than 208 thousand people have received food parcels in an emergency for a period of only three days.

    The program also carried out on the distribution of people fleeing the conflict in Ramadi in Baghdad, Babil, Karbala and Wasit and Diyala, Erbil and Sulaymaniyah as well as newly displaced people in the eastern province of Anbar.

    According to UN data has provided the World Food Program in the past year, food care for about 8.1 million of displaced persons affected by the conflict across the 18 provinces of Iraq.

  8. #8
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    Re: The Dinar Daily, Friday May 22, 2015

    Araji withdraw from the World Economic Forum Hall after attending Netanyahu

    Friday, May 22, 2015 13:25

    BAGHDAD / Baghdadi News / ... withdrew Deputy Prime Minister Bahaa al-Araji, on Friday, of the World Economic Forum Hall after attending the Israeli Prime Minister.

    He said al-Araji office said in a statement, received / Baghdadi News / copy of it, "Deputy Prime Minister withdrew from the World Economic Forum held in Jordan Hall after attending Israeli Prime Minister Benjamin Netanyahu."

    The office confirmed in a telephone conversation with / Baghdadi News / that "al-Araji is the only one who withdrew from participating in the Forum of the Iraqi delegation." It ended 21 / l

  9. #9
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    Re: The Dinar Daily, Friday May 22, 2015

    High oil prices 2% support of the drop in US stocks and the security situation in Iraq

    Friday, May 22, 2015 10:00

    Baghdad / follow-up Baghdadiya News / ... Oil prices jumped more than 2% on Thursday evening, driving Brent crude to record the largest gains for a day in more than a week after it raised the announcement of a further decline in stocks in the delivery of futures US contracts Center in Cushing optimistic that oversupply recede.

    The oil was also in support of the security situation in Iraq, which raises concerns about the security of crude shipments from the Middle East.
    The dollar fell against major currencies also removes some of the pressure on oil prices. The US currency rebounded for three consecutive sessions of gains to fall against the euro for the first time in a week. And trade sources said, citing a report to Zhinskab company specializing in market data that "US crude stocks at Cushing, Oklahoma, fell about 740 thousand barrels in the period from Friday to Tuesday."

    The report came in the wake of US government data third consecutive weekly decline in oil inventories in the United States show.
    And it ended the Brent crude futures for July trading session high of $ 1.51 or the equivalent of 2.3 percent to settle at 66.54 dollars a barrel.
    And stepped up US crude to $ 1.74, or about 3% to close at $ 60.72 a barrel. The previous time that the Brent contract surged by more than 2% was in May 12. It ended 21 / l

    Analysts said at Commerzbank in a report that despite the declines in US crude inventories over the past three weeks, but they remain high about 20 percent from their levels a year ago, suggesting the likelihood of a downward rebound in prices.

  10. #10
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    Re: The Dinar Daily, Friday May 22, 2015

    Start of the World Economic Forum with the participation of Iraq

    {Baghdad: Euphrates News} kicked off Friday at the Dead Sea, Jordan, the World Economic Forum of Davos} {participation of a number of countries, including Iraq.

    Among the participants Egyptian President Abdel Fattah As the President of Iraqi Kurdistan, Massoud Barzani, Moroccan Abdul Ilah Bin Kiran and Prime Minister, and participate in the activities of Forum more than a thousand of business, politics and the economy, analysts and experts, and discussed the work of the forum that the three-day sessions, economic, development and youth issues in the region .

    This version holds of Forum Title {Find a regional framework for prosperity, peace and cooperation between the public and private sectors}, and trying to attendees of officials and experts to discuss ideas face the development challenges in the region, and to highlight the impact of regional conflicts and its repercussions on growth.

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